The Life That Got Away
By Ric Edelman
Regret is a terrible feeling to have — but that’s the fate of more than half of all retirees.
Such is the result of a survey of affluent retirees, conducted by Bank of America. A full 51% said that given the chance to start over in planning for retirement, they would focus more on their life goals. Specifically, 38% said they would spend more time determining how they wanted to live in their retirement years; 13% would base their retirement income needs on their ideal lifestyle, not just survival; and 23% wished they had started working with a financial advisor earlier in life — suggesting that they now realize they failed to achieve financial success on their own.
It’s too late for those retirees to improve their fates — but it’s not too late for you. The question is, will you do anything about it, or will you do nothing and one day harbor the same feelings of regret as those retirees?
The choice is yours.