It’s said that hindsight is 20/20—an adage that seems to ring particularly true when it comes to preparing for retirement. This compilation of retirees’ top financial regrets and fears is meant to help you better understand how the decisions you make regarding retirement could have ripple effects and how informed choices may result in more secure golden years.
of retirees regret not saving enough for retirement.1
non-retirees have a source of guaranteed income in their retirement portfolios.2
Of adults who currently don't have enough money to live comfortably, 36% believe the same will be true for them in the future.3
Some retirees opting for partial retirement and collecting Social Security benefits prior to age 66 were required to
over the federal salary earnings cap.4
of eligible employees don’t participate in their employer-sponsored 401(k) plan, thereby failing to take advantage of their employer match.5
Retirees often underestimated — and didn’t save enough to cover — health care expenses.6
COUPLES CURRENTLY NEED AT LEAST
SINGLE MEN NEED AT LEAST
SINGLE WOMEN NEED AT LEAST
Many seniors need to work longer. The number of workers 65 and older has tripled in the last 30 years, and the number of those 75 and older has almost quadrupled.7
Nearly one in five married couples and nearly half of single retirees
Working with your financial advisor to develop an investment strategy that addresses current challenges and future needs may help you avoid the retirement pitfalls that can lead to regret. Schedule some time to discuss next steps with your advisor today!