Give yourself a “No-Regrets” Retirement

Experienced financial advisors are familiar with the principles of investor psychology. Among them, the “Regret Theory” addresses the emotional reaction clients experience after making what they perceive is an error of judgment.

There are two kinds of investor regret:

1. The regret you feel when you believe you’ve made the wrong move, such as buying too high or having to sell too low.
2. The regret of making no move at all.

Fear of regret can be a powerful – and positive – force in your decision-making process, especially when it comes to retirement planning.

Here’s a list of the 13 biggest regrets people have about retirement.

A 2010 survey found that 51% of retirees wished they had focused more on their life goals when it came to retirement planning. Think about that for a minute. More than half of Americans in retirement have regrets… and not necessarily about money.

“Retirement activist” Robert Laura explains it like this:

“Retirement isn’t just about the money. No one on their death bed says, ‘Bring me my bank statements! Let me hold my mortgage one more time!”