Abstract
Retirement income is a three-legged stool. Sounds strange, but it is an apt metaphor that will help you remember the three crucial pillars of retirement support: (1) Social Security; (2) the increasingly rare pension; and (3) personal savings and investments. For academics, two of the legs are the same: (1) Social Security; and (2) personal savings and investments. But we substitute TIAA–CREF for the pension leg. Three-legged stools do not stand up well if one leg is shorter than the others. If all are of different length, it becomes a most unstable stool. Some may ridicule this metaphor with respect to retirement income, but others swear by it.
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© 2012 Springer Science+Business Media, LLC
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Francisco, R.A. (2012). Retirement Income. In: Finance for Academics. SpringerBriefs in Finance. Springer, Boston, MA. https://doi.org/10.1007/978-1-4614-3244-9_8
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DOI: https://doi.org/10.1007/978-1-4614-3244-9_8
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