If you could go back to the beginning of your career and begin planning for retirement again, would you do anything differently? Would you start saving at age 20? Choose different investments?
A recent survey asked affluent seniors who retired in 2003 or earlier to describe what they wish they had done differently, both before and after the financial crisis began. Not surprisingly, the retirees between ages 55 and 75 with at least $500,000 in investable assets had more financial regrets after the market downturn. The retirees wish they had:
Taken fewer risks with investing 9 percent 17 percent
Invested in principal protection or income guarantee products 9 percent 12 percent
Spent less in retirement 6 percent 11 percent
Invested less in company stock 6 percent 9 percent
Source: MFS Investment Management
Tell us, if you could go back and plan your retirement over again, what would you do differently?