1. The Most Common Regrets in Retirement
Nearly 8 out of 10 retirees say they wish they had saved more. Sixty-three percent regret not having a detailed financial plan. And 54% say they never planned properly for inflation. Healthcare is another pain point—many underestimate medical expenses or skip supplemental policies like Medigap, only to regret it later. Social Security is also a frequent misstep. Claiming early can permanently reduce your monthly benefit by 25–30%. And 40% of retirees regret entering retirement with high-interest debt like credit cards and car loans, which erode fixed incomes.

2. Financial Planning: The Cure for Regret
Regret often comes from not planning. That’s why calculating your net worth, tracking your cash flow, and projecting your monthly needs is so critical. Joe and Big Al stress maximizing 401(k) contributions—especially the catch-up option if you’re over 50—and diversifying your savings buckets. Relying only on tax-deferred accounts can backfire in retirement. And don’t ignore inflation: $50,000 in annual expenses today may cost $90,000 in 20 years.

3. Social Security: Timing Is Everything
Most people claim Social Security at 64, but delaying until age 70 can increase your benefit by 8% annually after full retirement age. That can mean a 70% higher check compared to claiming at 62. Waiting may not be ideal for everyone, but building Social Security into your broader strategy—alongside your other income sources—can help you avoid lifelong regrets.

4. Don’t Rush Into Housing Changes
Selling your house or moving away from your social network might sound smart financially—but it often leads to regret. Retirees have shared that leaving too quickly led to isolation and logistical headaches. Joe and Big Al suggest “test-driving” new locations with short-term rentals before making big decisions. Compatibility with your lifestyle matters more than property values.

5. The Role of Passive Income
Many retirees wish they had built more passive income streams—dividends, real estate, bond ladders, and synthetic dividends through ETFs or mutual funds. These assets create reliable income without the need to withdraw principal. But diversification still matters. Chasing yield can increase risk or tax liability. A balanced portfolio helps smooth the ride.

6. The Debt Problem
Debt is a major regret—especially credit card balances, auto loans, and even student debt. Joe and Big Al recommend organizing all debts and creating a payoff strategy like the snowball or avalanche method. It’s not just about entering retirement debt-free—it’s about managing the debt you have with a clear plan and low stress.

7. What Retirees Say About Their Lifestyle
Some retirees wish they had spent more on experiences and less on things. Others found that retirement left them bored or struggling to find purpose. The transition from work to retirement is harder than most expect. Even spending more time with your spouse can create new tension after decades of work-life separation. Be intentional about filling your days with meaning, not just leisure.

8. Health and Longevity: The New Retirement Frontier
As Mickey Mantle once said, “If I knew I was going to live this long, I’d have taken better care of myself.” That line hits hard in retirement. Today’s retirees are more health-conscious, and it pays off. A healthy lifestyle doesn’t just reduce costs—it boosts energy and longevity. Make exercise, nutrition, and mental well-being part of your retirement plan.

9. The Retirement Curveball: Early Exits
Over half of retirees leave work earlier than planned—due to health issues, caregiving needs, or workplace dissatisfaction. And for 1 in 5, the emotional adjustment is tougher than expected. That’s why financial freedom alone isn’t enough. You need purpose, connection, and routine to thrive.

Final Thoughts
Regret doesn’t have to be part of your retirement story. Learn from those who’ve been there—build a strategy that includes flexibility, health planning, social connection, and real income. With the right plan, retirement can be everything you dreamed—minus the “should haves.”

Intended for educational purposes only. Opinions expressed are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Neither the information presented, nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Consult your financial professional before making any investment decisions. Opinions expressed are subject to change without notice.

IMPORTANT DISCLOSURES:

• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC. A Registered Investment Advisor.

• Pure Financial Advisors, LLC. does not offer tax or legal advice. Consult with a tax advisor or attorney regarding specific situations.

• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

The post Top Retirement Regrets and How to Avoid Them Before It’s Too Late appeared first on ROI TV.

Joe Anderson and Al Calpine emphasized the importance of intentional retirement planning to avoid sabotaging decades of savings. They encouraged having realistic expectations about retirement, accounting for market fluctuations, and making informed decisions. They also raised awareness of elder fraud, citing 88,000 victims over age 60 who lost $3.1 billion in 2022—an 84% increase from the previous year. Planning for lifestyle and purpose, not just finances, is essential for a happy retirement. Despite 55% of people expecting to work past 65, only 19% actually do, showing the gap between expectations and reality.

Financial Missteps and Buyer’s Remorse

Common financial missteps include buying RVs, dream homes, or boats without thorough research, often leading to buyer’s remorse. Joe and Alan advised visiting destinations multiple times and in different seasons before making major purchases. They also warned about overestimating investment returns, underestimating inflation, and overlooking medical expenses, which can all disrupt retirement plans.

Inflation and Investment Strategies

Inflation erodes purchasing power over time—$100 in 2000 equals about $180 today. Coffee prices have risen from $0.25 in 1970 to over $3 today, illustrating the need for investment strategies that outpace inflation. Joe and Al recommend maintaining a diversified portfolio that includes equities to grow wealth over time. They discussed sequence-of-return risk, which occurs when retirees withdraw funds during market downturns, and encouraged mitigating this with a diversified and flexible withdrawal strategy.

Required Minimum Distributions (RMDs)

Understanding RMD rules is critical. Depending on birth year, RMDs start at age 72, 73, or 75. RMDs must be taken separately from each 401(k) but can be aggregated for IRAs. Mistakes can lead to double taxation or higher tax brackets. Early planning, especially for large account balances, allows retirees to explore tax-saving strategies like Roth conversions.

Social Security Claiming Strategies

Claiming Social Security too early can reduce benefits permanently. Waiting until full retirement age (typically 67) or age 70 increases monthly payouts. Attendees were advised to consider their health, assets, and spousal needs when deciding when to claim. The gap between retiring at 62 and qualifying for Medicare at 65 was highlighted, as private insurance costs during this period can be significant.

Long-Term Care and Medical Expenses

Long-term care is expensive, with nursing home rooms averaging $10,000 per month. In high-cost areas like California and New York, it’s even more. Joe and Alan recommended ensuring enough capital is available to cover such costs, even without long-term care insurance. Planning for the financial needs of a surviving spouse is also crucial.

Estate Planning

Estate planning is often neglected, with half of Americans dying without a will or trust. This can result in assets going through probate and distribution being determined by state law. Joe and Al advised creating key documents: wills, trusts, durable powers of attorney, and healthcare directives. Ensuring beneficiary forms are up to date is also vital.

Retirement Lifestyle and Communication

Retirement isn’t just about money—it’s about how you spend your time. Unrealistic expectations, like spending every moment with a spouse, can cause friction. Jim from Solana Beach shared that having too much unstructured time led to challenges in his marriage. Joe and Alan encouraged developing hobbies, volunteering, or part-time work and having open discussions with partners to align retirement expectations.

Legacy and Investment Decisions

Kristen from Tacoma asked whether retirees should exit the stock market once they have enough money. Joe and Al explained that the answer depends on whether assets are intended for personal use or as a legacy for heirs. If the goal is to grow a legacy, staying invested makes sense. If not, capital preservation may be more appropriate. They advised aligning investment strategies with long-term goals, risk tolerance, and retirement objectives.

Intended for educational purposes only. Opinions expressed are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Neither the information presented, nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Consult your financial professional before making any investment decisions. Opinions expressed are subject to change without notice.

IMPORTANT DISCLOSURES:

• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC. A Registered Investment Advisor.

• Pure Financial Advisors, LLC. does not offer tax or legal advice. Consult with a tax advisor or attorney regarding specific situations.

• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

The post Avoid These Retirement Mistakes appeared first on ROI TV.

So how can you close the gap? The first step is understanding how much you’ll need.

Calculate Your Retirement Shortfall

Joe Anderson and Alan Copeland walk viewers through a practical formula: subtract your fixed income (such as Social Security or a pension) from your desired annual spending. Multiply that shortfall by 25—or divide it by 4%—to determine the total savings needed. For example, if you need $75,000 per year and expect $50,000 from Social Security, you’ll need $625,000 saved to cover the difference.

Don’t let that number intimidate you. Even starting at age 40 with zero savings, you can get there by saving consistently and investing wisely. Saving $10,000 annually with a 6% return could hit your target by age 66.

Supercharge Your Savings

If you feel behind, you’re not alone—but there are ways to boost your efforts. Aim to save at least 15%–20% of your income. If you’re starting late, you may need to hit closer to 26% of gross income to replace 80% of your earnings in retirement.

Here are a few tactical tips:

• Max out your employer match.
• Set aside 50% of any bonuses.
• Automate your savings increases with every raise.
• Pay yourself first before spending on anything else.

Get Smart About Social Security

Timing your Social Security claim is one of the biggest levers you can pull. While you can start at age 62, doing so means locking in a permanent 30% reduction. Waiting until age 70, on the other hand, boosts your benefit by 8% per year past full retirement age—maximizing your lifetime income.

Joe and Alan also highlighted Social Security’s diminishing role as your income grows. For someone earning $15,000 annually, benefits may replace 80% of income. For those earning $150,000, the replacement rate drops to just 30%. In other words, the more you make, the less you can rely on Social Security alone.

Minimize Taxes in Retirement

Don’t underestimate the impact of taxes on your retirement income. Required minimum distributions (RMDs) from traditional accounts, plus the loss of common deductions in retirement, can push you into a higher tax bracket than you expected.

Alan emphasized the importance of tax diversification. Spreading your savings across tax-deferred (like traditional IRAs), taxable brokerage accounts, and tax-free Roth IRAs gives you more flexibility—and more control—over your tax bill.

Consider Roth Contributions and Conversions

Roth IRAs provide powerful benefits: tax-free growth and withdrawals. For 2025, you can contribute $7,000—or $8,000 if you’re over 50. And even if you can’t contribute directly, you can consider Roth conversions. Moving money from a traditional IRA to a Roth IRA means paying taxes now but avoiding potentially higher taxes later.

This strategy can be especially effective in the years between retirement and RMD age, when your taxable income is lower.

Define Your Retirement Vision

It’s not just about the numbers. Joe and Alan encourage writing down your retirement goals—when you want to retire, how much you plan to spend, and whether you plan to relocate or downsize. Studies show that those who write down their goals are far more likely to achieve them.

A good retirement plan includes:

• Savings benchmarks
• Social Security strategy
• Investment allocation
• Contingency planning for health care or unexpected expenses

Use the Right Tools

To help you get started, Your Money Your Wealth offers a free Retirement Readiness Guide. It’s packed with worksheets and step-by-step instructions to calculate how much you need, how to save, and how to draw income efficiently.

Whether you’re decades from retirement or staring it down in the next few years, planning now can ensure you retire with financial confidence.

Intended for educational purposes only. Opinions expressed are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Neither the information presented, nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Consult your financial professional before making any investment decisions. Opinions expressed are subject to change without notice.

IMPORTANT DISCLOSURES:

• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC. A Registered Investment Advisor.

• Pure Financial Advisors, LLC. does not offer tax or legal advice. Consult with a tax advisor or attorney regarding specific situations.

• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

The post How to Catch Up on Retirement: Saving Smarter, Spending Wisely, and Planning Strategically appeared first on ROI TV.