search.noResults

search.searching

note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
Here are some of the biggest regrets that retirees wish they had considered before enjoying their golden years.


They would have saved more money.


It may seem like this would be an obvious factor for planning, but it is also one of the biggest regrets felt by retirees. If you have not saved enough money, all of your plans become difficult. One million dollars in a savings account used to be the benchmark for a comfortable retirement, but experts say that today it may not be enough. While you can enjoy retirement with that kind of money, only you can determine what is or is not enough for you. To financially plan for your individual retirement, experts


say that you should plan for much more in health care costs than what you have spent throughout your entire life, as these costs are likely to increase over your golden years. Some estimates state that healthcare expenses for retirees could extend to around $250,000 or more, even if you have lived a healthy lifestyle. Additionally, you should expect the unexpected when it


comes to any financial pitfalls that may occur. Experts say that financial planning should account for both success as well as financial challenges and failures.


They would have stayed in the workforce longer.


Many of us have grown up thinking that there is a magic age for retirement and once we reach that number, retirement is a rite of passage. But once you leave the workforce it becomes difficult to return. Many who left a career return because they could not afford retirement, only to find that they cannot get their previous salary or benefits package because employers are concerned about their age. Unfortunately, those who stay in the workforce longer can


struggle with just as many disadvantages. Although it is illegal to discriminate according to age, many employees between the ages of 55 and 59 are overlooked for promotions and on-the-job training, regardless of education or experience level. However, keeping a job is not always about financial


planning. Many people decide to stay in the workforce for many reasons beyond saving money. Working longer has been shown to keep the mind sharp and to decrease depression. It also helps you maintain an active social life. When considering retirement, all of these factors should be considered while making the decision.


They would be sure to have a plan for their free time.


Books have been written about those who have lost their identity when they retired. Decades of a career tend to give a person purpose. When the job is no longer part of their life and that identity is gone, one can become lost. Also, as creatures of habit, years of a consistent routine become comfortable. When that routine is lost without a plan to replace it, many retirees actually struggle with feeling a lack of purpose. Social connections have been shown to be the difference between a successful transition and an unfulfilling retirement.


The House & Home Magazine 59


Men especially struggle with this aspect as social connections for guys are often work related. Experts highly encourage taking the time to forge new relationships before retiring. They also encourage finding a new hobby or becoming a volunteer for your favorite charity.


They drew on their social security too early.


Research and study your retirement benefits. From pensions to Medicare, it is important to understand how your financial systems work. Learning when to start using your benefits is crucial. Depending on Social Security straight into retirement could


mean that you miss out on bigger returns if you wait just a few more years. Social Security is meant to be a supplement rather than a main income source, and it was originally designed to cover one-third of your retirement income. Personal savings and a pension were expected to carry you through your golden years. However, since pensions are mostly a thing of the past, financial planning has become more important than ever.


Some people regret not retiring earlier.


While waiting as long as possible can be a benefit, working beyond your ideal age when you are financially able to retire means giving away precious years. While some of us are late in planning our retirement, others have successfully saved and prepared.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100