Top Retirement Regrets Revealed by Current Retirees - How You Can Learn and Avoid Them

Top Retirement Regrets Revealed by Current Retirees

Take a lesson from those who might steer you in a better direction. Most of us have things in life we regret, whether it was the perm we got during high school or the college major that didn't end up doing us much good. But while it's one thing to make mistakes early in life, it's another thing to fall victim to major blunders in the course of retirement planning.

1. Not increasing savings

Many current retirees wish they'd boosted their savings before wrapping up their careers. And if your nest egg could use a lift, you may want to make that a priority in the years leading up to your workforce exit. Social Security benefits may be subject to cuts, so adequate savings are crucial.

2. Not prioritizing good health

Many current retirees regret not taking better care of their health in the years leading up to retirement. Neglecting health could result in costly medical bills during retirement, emphasizing the need for annual check-ups and healthy habits.

3. Not reducing expenses

Even with savings, cutting expenses may become necessary in retirement. Start reducing expenses early to ease financial pressures later on. Addressing spending habits pre-retirement can benefit your nest egg.

It's pretty difficult to go through life without any regrets at all. But these three, in particular, have the potential to hurt your retirement. Now that they're on your radar, you can hopefully take steps to avoid them.