The Bucket Approach to Financial Planning - Part 1 Liquid

What is the bucket approach to financial planning?

The three-bucket approach is very simple and is meant to set the foundation for your retirement income plan. Liquid, Income, and Growth are the three buckets, used as a funnel for your total assets.

Starting with your liquid assets, determine what is needed to cover daily living, lifestyle, and emergency expenses. Regardless of what happens in the stock market, the funds are sitting in the bank with no market risk. The goal is not a rate of return, but rather to keep the money safe.

Ask yourself, do you have a known or planned purchase or expense in the next 3-5 years? That really should determine how the money should be invested (not current events, such as an election year) because the growth bucket will do what it is supposed to do over a 5+ year timeframe.

Listen to part 1 of The Bucket Approach to Financial Planning for more!


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