what will it look like in 5 years or 50 years. Nobody really knows anymore. Normally we first view retirement planning as a three-legged stool consisting of 1. Social Security benefits; 2. Company retirement plan (defined benefit or defined contribution); 3. Accumulated cash savings (in the form of cash, life insurance cash value, IRA’s, etc).

I would like for you all to begin this discussion by researching the difference between a defined benefit pension plan and a defined contribution pension plan. The difference between these two type retirement plans is triggering much debate among everyone these days. Which organizations are using what type of plan? Is one less expensive than the other to offer employees? This beginning discussion will lead into discussions of Social Security, Roth versus Traditional IRA’s and numerous other retirement topics. Enjoy and please participate–this topic is very important for all of you even at your current age (regardless of what that is).

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