Hindsight may not be a perfect science, but many retirees agree that if they had the chance to do their retirement planning all over again, they would do a lot differently.
The 2023 10X Retirement Reality Report reveals that 71% of respondents are partially or strongly of the view that they will need to continue earning a living after their formal retirement date.
In fact, 49% of all female respondents to the survey indicated that they do not have a retirement plan, compared with 43% of men, and it goes without saying that many retirees today have investment regrets.
From our experience in retirement planning, these are the top factors that retirees regret most about their journeys.
Not seeking professional advice earlier
The most basic mistake that many retirees attest to is not having sought professional advice earlier.
Many retirees assumed that the contributions to their workplace retirement fund were sufficient to secure a comfortable retirement and, as such, didn't feel that professional advice was necessary.
Some retirees admit to feeling embarrassed that they hadn't saved enough and didn't feel that an advisor could do much to help them.
Old-school insurance retirement annuities lacked transparency and penalized investors heavily for termination or early cancellation, and many retirees avoided using these vehicles to fund for their retirement.
この記事は The Citizen の November 01, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The Citizen の November 01, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Breaking down the auction world
The South African Institute of Auctioneers (SAIA) has unveiled a groundbreaking new resource aimed at making auctions more accessible and less intimidating for everyone.
Breaking down the auction world
The South African Institute of Auctioneers (SAIA) has unveiled a groundbreaking new resource aimed at making auctions more accessible and less intimidating for everyone.
Discover hidden gems
'NOVEMBER ART': SOME OF MOST INTRIGUING WORKS ON OFFER
Race-by-race guide to Sha Tin meeting
Luke Middlebrook's early tips and race previews for Sunday's racemeeting at Sha Tin in Hong Kong
Nahaash to bolster Costa's run
Michael Costa, the top trainer in the Emirates this season, has dominated Jebel Ali's first two meetings, saddling seven winners at the Dubai track.
Roberts hopes to See It Again
IMPROVEMENT: TRAINER FEELS HIS CHARGE HAS COME ON MARKEDLY WITH GELDING
BOWLING BLITZ
JANSEN: TALL PROTEAS SEAMER RIPS INTO SRI LANKA
Nabi bemoans Chiefs finishing
Kaizer Chiefs head coach Nasreddine Nabi has reiterated that his side are nowhere near the level they are aiming for, after they beat Richards Bay 2-1 in the Betway Premiership on Wednesday.
Iga accepts doping ban
Paris French Open champion Iga Swiatek escaped with a onemonth suspension for a positive doping test after convincing the International Tennis Integrity Agency that it had not been intentional, the ITIA announced yesterday.
Proteas must work on bowling
After slipping in another defeat to England, all-rounder Chloe Tryon admitted the Proteas women's team were not good enough with the ball in the second T20 International in Benoni on Wednesday night.