Twenty years from now, you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.”
Mark Twain was on to something, but following your dreams in retirement, whether grandiose or simple, probably requires some astute financial planning. Certainly it’s an issue worth considering in mapping out your retirement.
We have a particular liking for a MarketWatch.com section titled The RetireMentors because of its diversity of insights, analyses and opinions related to seemingly all areas of retirement. Jack Tatar, author and current CEO of GEM Research Solutions, views “retirement in a more holistic manner and feels that finance is only one aspect of retirement. The need to evaluate the health, wellness, attitude and level of involvement of a retiree are also vital aspects for retirees to achieve a safe and thriving retirement.” Tatar had an excellent piece recently that included reflections on what he “found to be the 5 biggest regrets of retirees based upon what I’ve learned from retirees when considering the larger view of their later years. They are:
- “I wish that I had saved more money.
- “I wish that I had been more knowledgeable about money and/or had a trusted financial adviser to work with.
- “I wish that I had taken better care of my health.
- “I wish that I had gotten involved in the things that I really love sooner in life.
- “I wish that I had spoken sooner with my children about the needs and desires for my later life.”