6 Things Retirees Wish They Had Done Differently
Learn from the mistakes of others.
This story originally appeared on NewRetirement.
Many retirees complete their last day of work only to find that they can’t afford to live comfortably. Looking back, they point to clear planning steps they could have taken that would have made a dramatic impact on being prepared for retirement.
Here are several ways today’s retirees say they would have planned differently, and what you can do while there is still time.
1. Save More
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According to an annual study by the Transamerica Center for Retirement Studies, a full 78% of retirees wish they would have saved more. Retirees who were less confident about their financial situations say not saving was a major regret.
29 Early Retirement Tips, Strategies, Tricks and Hacks
These tips and tricks could have you out of the workforce quicker than you think.
This story originally appeared on NewRetirement.
Early retirement is a dream for many Americans, but one that few are sure they’ll be able to reach. In fact, the Boston College Center for Retirement Research has found that the average retirement age has actually risen to 65.7 for college-educated men and 62.8 for college-educated women (while remaining at around 62 for high school graduates).
So, is the secret to early retirement tip to skip college and retire by 62? Mmmm … no. (There are quite a few dynamics contributing to those different average retirement ages mainly forced retirement because of the difficulty of the work and they don’t reflect whether the retirees are actually prepared for a secure future or not.)