7 Regrets Retirees Express About Their Past Choices

A significant majority of retirees (78%) express regret for not saving enough, with delayed retirement planning being a common mistake.

1. Insufficient Savings

Retirees also lament not maximizing their 401(k) plans, enrolling late, & failing to save the maximum allowed amount, emphasizing on proactive financial planning for retirement.

2. Missed Opportunities

3. Written Plan :  A Neglected Opportunity

Only 18% of retirees have a written plan, despite its potential benefits. Creating a written plan, that can alleviate concerns & uncover opportunities.

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4. Ensure Financial Preparedness for Health Care Expenses

A significant concern is the affordability of health care expenses in retirement, limited savings & confidence levels among respondents.

5. Planning for maintaining lifestyle 

Plan for enjoyment by considering anticipated expenses and income, as many pre-retirees fail to create a budget to adjust spendings to sustain desired lifestyle.

6. Expand personal finance knowledge

Only 66% of retirees express a desire for greater financial planning expertise, encompassing areas such as investing, budgeting, debt management, and taxation.

7. Plan and Protect Money From Taxes

Safeguard your retirement savings from taxes through strategic planning, including considerations like potential taxation on cashed-out 401(k) funds 

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