Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Monday, April 7, 2014

Six Common Retirement Regrets

RetirementFinancial advisors were asked to comment on the biggest retirement regrets of their clients. A common mistake mentioned is a person expecting their standard of living during retirement to be equal to that of when they were working. Among the many answers given, the following are the big six:

  1. Not saving more during peak earning years
  2. Living off of credit and accruing debt instead of saving
  3. Retiring early, resulting in less savings and a longer period of retirement
  4. Taking money out of IRA and 401(k) accounts early in life
  5. Counting on Social Security for support
  6. Not planning for unexpected healthcare needs

See Rodney Brooks, Retirement Living: Biggest Retirement Regrets, USA Today, Mar. 11, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/04/six-common-retirement-regrets.html

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