The Bucket Strategy® is both simple and complex: while the structure on the outside is easy, the inner workings can vary wildly from person to person, depending on several factors. No wonder, then, that many people (journalists included) have some incorrect ideas about what the strategy is.

A few assumptions are that it’s only about cash and stocks, it’s static, and it only provides a steady income. But if you have a properly designed strategy, you’ll find that these ideas are completely wrong.

In this week's episode of Managing Your Financial Future, podcast host Johnny Dean and Rick "The Professor" Plum, CFP® talk about what people get wrong about the Bucket Strategy® and why it’s so important to know not just how it works, but why it’s set up the way it is.