Retirement is something that we’re told to prepare for early in life. But let’s be honest, it’s not something we all have on our minds daily. From choosing when to start saving, how to save, and even planning on where you want to retire, it’s hard to make a decision that’s going to impact you later in life. A recent survey asked 500 current retirees about retirement preparedness. Here are some of their biggest regrets:
Not Saving Earlier
52.8% of people said they started saving for retirement too late. This, impacting women more than men as 58% of women said they delayed saving efforts, causing 41% to be unable to spend as freely as they would like. On the other end of the spectrum, 2.4% said they started saving too early.
Not Saving Enough
24% of people say they regret the amount of money they saved. This factors into retirement lifestyles, with many saying they are traveling less than they want to, have a smaller social life, and are concerned that they won’t be able to live comfortably for the rest of their retirement.
Retirement Age
22% of people regret the age that they retired. 1 in 4 women regret the age they retired, with more than half saying they retired earlier than they wanted to.
You can find more on the survey and other retirement concerns here.