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Retirement is no time for regrets. Your golden years should be spent reminiscing about a life well-lived — not a life full of what ifs.
Unfortunately, plenty of Americans look back on their retirement with lingering regrets. A My Retired Life YouTube video shared some of these reflections, gathered from the host’s conversations with folks in their 70s and 80s (1).
Their responses are surprising, and maybe a little sad — but hopefully, their wisdom can help you avoid the same traps.
By learning from their mistakes now, you can plan for a more fulfilling retirement ahead.
Many retirees regret not retiring earlier, while they were in good health and with greater energy.
As one YouTube commenter put it, “Nobody ever looks back on their life and says, ‘I wish I spent more time at the office.’”
A 2024 report from the Transamerica Center for Retirement Studies found that 64% of those surveyed didn’t retire when they had planned to (2). All told, 58% had retired earlier than intended, and only 6% retired later.
While an earlier retirement might sound good in theory, only one in five of those retirees did so because they were financially prepared. Most early retirees were forced to do so, rather than pursuing it out of choice.
One way to retire sooner and to be on solid footing when you do is to make sure you’re consistently contributing to your retirement accounts.
Read More: Approaching retirement with no savings? Don’t panic, you’re not alone. Here are 6 easy ways you can catch up (and fast)
When it comes to building your nest egg, focus on consistency. After all, it’s more about giving your money time in the market rather than trying to time the market.
You can make investing effortless and a seamless part of your financial routine by downloading the Acorns app and linking it to your bank account.
Acorns automatically rounds up the total cost of your purchases on debit and credit cards, then invests the remainder in a diversified portfolio of ETFs. That morning coffee for $3.25? It’s now a 75-cent investment in your future.
Even better, Acorns can tailor your smart portfolio to your risk tolerance. You can also set up recurring monthly contributions to boost your savings power once you’re comfortable with daily round-ups.
If you sign up now with a recurring deposit, you can get a $20 bonus investment to start your savings with a bang.
You could also consider investing in a wide range of asset classes, so that your retirement fund isn’t dependent on any single stock or market.
Gold is often viewed as a hedge against stock market volatility. By tapping into gold, you can also help protect your portfolio against inflation — which erodes the value of your money over time.
By opening a gold IRA with the help of Goldco, you can better protect your nest egg. Goldco gives you access to gold and other precious metals in their physical forms, while also providing the significant tax advantages of an IRA.
With a minimum purchase of $10,000, Goldco offers free shipping and access to a library of retirement resources. Plus, the company will match up to 10% of qualified purchases in free silver.
If you’re curious whether this is the right investment to diversify your portfolio, you can download your free gold and silver information guide today. Just keep in mind that gold is usually best used as one part of a well diversified portfolio to help preserve your wealth.
What comes first in retirement, saving or spending? According to some 70- and 80-year-olds, they regretted not spending more money during their early retirement years — especially on experiences like travel, hobbies and family activities.
But sadly, not everyone has the opportunity to spend retirement money out of the gate and on their own terms.
According to the Board of Governors of the Federal Reserve System, 37% of Americans don’t have enough cash to cover a $400 emergency expense (3). So, while tapping into your retirement funds sooner might sound like a good idea in theory, make sure you’re not putting yourself at risk for any unforeseen expenses that could pop up along the way.
If you’re unsure whether you’re ready to retire, and how much money to spend once you do, it might be a good time to connect with a financial advisor through Advisor.com.
This online platform connects you with vetted financial advisors suited to helping you develop a plan for your new wealth.
Just answer a few quick questions about yourself and your finances, and the platform will match you with an experienced financial professional. You can view their profile, read past client reviews, and schedule an initial consultation for free with no obligation to hire.
Making a plan with an advisor is one thing. But sticking to it can be a challenge if you don’t have a handle on where all of your money goes.
A quick daily check-in of your accounts can show you exactly where your money is going.
An app like Rocket Money can easily flag recurring subscriptions, upcoming bills and unusual charges by pulling in transactions from all your linked accounts.
This can help you cut unnecessary costs, and then you can manually redirect savings straight into your retirement fund. No spreadsheets, no guesswork, no stress. Small habits like this can make a big difference over time.
Rocket Money’s intuitive app offers a variety of free and premium tools. Free features include subscription tracking, bill reminders and budgeting basics, while premium features — like automated savings, net worth tracking, customizable dashboards, and more — make it easier to stay on top of your retirement contributions and overall financial goals.
Retirees often lament not prioritizing their health earlier in life, as bad diets and sedentary lifestyles have a way of catching up to us as we age.
In the My Retired Life video, the host says, “You know, instead of having dessert every night, I might do it once a week just as a treat,” adding that he’s going to really take in their wisdom, even when it comes to sweet treats.
According to the Johns Hopkins Bloomberg School of Public Health, more than 85% of America’s older adults who rely solely on Medicare have chronic health conditions (4).
According to the U.S. Centers for Disease Control and Prevention, most chronic diseases are caused by smoking, poor nutrition, physical inactivity and excessive alcohol use (5). That suggests many illnesses could be prevented through healthier daily habits.
As you approach your golden years, finding affordable ways to stay healthy can feel overwhelming.
You might want to consider joining an organization like AARP, which offers benefits related to healthcare, including dental and vision plans, as well as long-term care insurance.
As one of the most trusted organizations for older Americans, AARP not only offers money-saving perks, but they can also help you make informed financial and health decisions.
AARP members get access to guides that can help you make the most of Social Security, choose the right Medicare plan, and uncover other government benefits — potentially saving you thousands of dollars.
Sign up with AARP today and get 25% off your first year.
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
My Retired Life (1); Transamerica Center for Retirement Studies (2); Board of Governors of the Federal Reserve System (3); Johns Hopkins Bloomberg School of Public Health (4); U.S. Centers for Disease Control and Prevention (5)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.