Current and future investments
Current investments are the stocks, bonds, and mutual funds you own right now. They represent the investments you already purchased with past savings contributions, like the investments in your IRA or 401(k) account. Obviously, if you already own many investments from past savings, you have a better start on retirement.
Tax-deferred savings are the money you expect to save each year in tax-deferred plans. The more you save, the more investments you will likely have to draw from in retirement.
Taxable savings are the money you expect to save each year in taxable plans. The more you save, the more investments you will have available to sell to cover future expenses.