BlackRock recently surveyed 17,600 investors across 12 countries in an effort to gather wisdom about investing and retirement. Here’s what retirees said they regretted the most:
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36% said they would have started investing for retirement earlier and contributed sooner to their 401(k) at maximum levels
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32% said they would have spent less
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21% said they would have worked longer
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12% would have sought professional advice1
If you’re still working and saving for retirement, or retired already, it’s important to take note of these four regrets so you can avoid falling into any of these categories. An investment plan can address—and even eliminate—these concerns.
An Investment Plan Can Turn Regret into Opportunity
Here’s how.
For the 36% who said they wished they would’ve started saving earlier, they may be able to make up for lost time by achieving more growth instead. An investment plan will analyze your investment time horizon and comfort with risk, and provide you solutions designed for growth over time. It starts by making informed asset allocation decisions while also hiring quality money managers with best suited to your goals.
For the 32% who said they would have spent less, an investment plan can help them avoid making the same mistake twice. An investment plan can help you monitor your spending in retirement, by taking stock of your retirement income needs and factoring them in to how your portfolio is managed.
For the 21% who would have worked longer, an investment plan can help you find constructive ways to generate income in retirement—without you having to go back to work. From maximizing your social security check to including dividend paying stocks in your portfolio, there are several ways to boost your retirement income. An investment plan can show you different possibilities.
And finally, for the 12% who would have sought professional advice, it’s not too late to do so. You can always seek the help of a financial advisor.
You can get started on your investment plan by answering a few questions here.
WrapManager Can Help You Plan for Retirement
One of our Wealth Managers can build an investment plan for you, answer questions you have about your financial situation and your goals, and help you find solutions to get you where you want to go. We can also recommend money managers we think can help you accomplish your objectives. Give us a call today at 1-800-541-7774 to start the conversation.
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