Financial Planning Pyramid

Variations of this graph are found in every financial planning course. 

It is worthless. 

Mostly because it's common sense. 

Also, it does not relate well to large groups of investors. For example, parents and grandparents often play (or can play) a huge role in emergency funding, and even such "things" as insurance.

This quickly drawn diagram is much more important: 

Far left and far right columns: items listed in relative importance with regard to financial independence by age 57.

For example, "then" -- your great-grandparents, pensions and social security were most important.

For your parents and you -- the "now" -- pensions and social security are least important.