This is another one that’s confused me due to inconsistancies in the answers.
I have two scenarious here:
A couple are saving for their son’s university education. The fees will end when they are in retirement. Is this two stage or three stage? Work - Retirement or Work - Retirement paying fees - Retirement paying no fees. Some have the first and others the second. I would have thought any substancial outflow should be factored into the time horizon.
A lady has received a good package due $750k (3 years salary) due to a takeover and wants to travel a bit before finding new work. SHe is confident she can find new work at a higher salary but wants to travel. Is this two or three stage? Work-Retirement. Travel-Work-Retirement? I said the later but apparently it’s wrong.
Cheers for any help.