5 Things People Regret at the End of Retirement
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- Опубліковано 10 чер 2024
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Retirement marks a pivotal chapter in our lives, offering a chance to reshape our future and embark on new adventures. However, it can also be a time for introspection, prompting us to reflect on the path we've chosen and the life we aspire to live in this next chapter.
In this episode, we delve into the top 5 regrets people commonly express at the end of their retirement (and life). By understanding these regrets, we can proactively make choices that lead to a fulfilling and purposeful retirement journey.
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ABOUT ME
I’ve always been passionate about personal finance, investing, real estate, and helping people find the freedom to live their life with purpose. But when my dad died in 2015, I tried to help my Mom find an advisor to sort out her finances. Instead of a helping hand, I found an industry of financial advisors dominated by glorified salespeople working on commission - pushing products that were not in my mother’s best interest. Or advisors with minimums that shut-out all but the ultra wealthy. Disappointed with the options, I took matters into my own hands and launched Foundry Financial, a wealth management firm with transparent pricing that specializes in helping provide clarity around money - so you have the confidence to make smart decisions.My goal is to help a million people retire without worry!
📅 THE BASICS OF RETIREMENT PLANNING
Retirement planning has several steps, with the end goal of having enough money to quit working and do whatever you want. Our goal is to help people master retirement and retire without worry.
Step 1: Know when to start retirement planning. When should you start retirement planning? The earlier you start planning, the more time your money has to grow. That said, it’s never too late to start retirement planning. Even if you haven’t so much as considered retirement, don’t feel like your ship has sailed. Every dollar you can save now will be much appreciated later. Strategically investing could mean you won't be playing catch-up for long.
Step 2: Figure out how much money you need to retire, The amount of money you need to retire is a function of your current income and expenses, and how you think those expenses will change in retirement.
Step 3: Prioritize your financial goals. Retirement is probably not your only savings goal. Lots of people have financial goals they feel are more pressing, such as paying down credit card or student loan debt or building up an emergency fund.Generally, you should aim to save for retirement at the same time you're building your emergency fund - especially if you have an employer retirement plan that matches any portion of your contributions.
Step 4: Choose the best retirement plan for youA cornerstone of retirement planning is determining not only how much to save, but also asset allocation. It can make a massive difference in your retirement plan.
Step 5: Select your retirement investments. Retirement accounts provide access to a range of investments, including stocks, bonds and mutual funds. Determining the right mix of investments depends on how long you have until you need the money and how comfortable you are with risk. It’s often helpful to talk with an adviser to discover the right mix of stocks and bonds.
❣ SPONSORED No, this video was not sponsored.
⚠️ "DISCLAIMER:⚠️This is not financial or investment advice. This Channel is meant for EDUCATIONAL AND ENTERTAINMENT PURPOSE only. None of this is meant to be construed as investment advice, it's for entertainment purposes only. #retirementplanning #retirement #passiveincome
Do you feel I missed any regrets?
Thank you Kevin. This video sparked some insight for me about some changes I need to make. I'm 66 and close to retirement. Happiness is a choice.
Thanks, Ken!
This is great content and a very helpful topic.
Thanks, Rhonda!
I know a few elderly persons who keep saying they regret spending too much and eating too much, drinking too much, and not saving money. Yet, they still keep eating too much, buying ridiculous stuff. Elderly people are not wise. Most of them behave like small children. Paying attention to what they say and complain about is not a good life planning.
I think the same can be said for all of us. Just because actions don’t change, doesn’t mean the regret isn’t real.
I have no regrets/ I Did my way….🥳
My uncle retired a couple years before pandemic the number one regret was actually retiring.
Very interesting. I’ve heard similar things, especially if they don’t know what they’re retiring to.
I want my partner to do more traveling!
make him get a side hustle
👌🏿👌🏿👌🏿
If you fall off a cliff when you are 74 you wish you never went out that night. You are now crippled and can not do much and you are in pain 24 hours a day and the doctors can do nothing
Old folks regrets. Sometimes misguided.
Say more.
1% Bitcoin allocation will be a regret! Excellent video!
Ha! Thanks, William. You’ve got to be feeling good after the recent run.
Do you mean: Regret ONLY putting 1% into Bitcoin?
Your 5 regrets are unfortunately too short-sighted! They only focus on this life, which is just a test and a transition to an eternal life, which only a few have prepared for! I know you're a CFP, so that's not your specialty per say, but you and your audience should know that that's far more important than this short life of ours. Thank you!
So, what are your plans for your “eternal” life? You won’t need food or water or shelter or have to work… Is there just one season (summer?). You won’t need a lot of clothes then. Fashion will be meaningless (hooray). What age will you be in your next life? Hopefully not senile or suffering from dementia. Are your friends and family going to be with you always? Every moment? Won’t that be fun. Will you have to get your hair cut? So how will you occupy your abundance of time there? Will you have absolutely nothing to do for all eternity? How is that life going to be more important than the life you’re living now? Cheers and best wishes.
@@gwarlow Great questions; although a better question would be "what have I prepared for the day of judgement and the afterlife?" As for all those worldly questions, no one really knows the answers except that we won't feel boredom, sadness, or sickness! We'll ALWAYS feel happy, fulfilled, and content and God knows best.
Funny how everyone has an opinion on what you should do when retired..I worked hard for 53yrs and have no regrets on what I did. It wasn’t all peachy with 4 kids and a wife that went crazy after 33yrs. In the end I survived and flourish.