What Retirees Wish They Had Done Differently

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I retired in January 2008. My wife and I, working with a trusted retirement/money manager, thought we did it all right i.e. Federal retirement with good health care benefit, well-diversified 401K portfolio with maximized matching, retired to a relatively inexpensive place, and were in the middle of construction of our retirement dream log home when everything crashed. Down the tubes went what was planned to have given us a mortgage free retirement. My mistake. Not withdrawing my 401K from the market when my gut told me to do it. I let my money manager talk me into keeping it too long. Now I am trying to let it rebuild, but at the expense of paying a monthly mortgage I wasn't planning on. My advice. Don't let your money mangager, who has a vested interest in keeping your money in the market, control what you think you should do. We will probably be OK, but my wife will probably work longer than planned and we won't be doing the traveling we planned to do.

John of LA 7:37PM February 01, 2010

With Social Security, a very small pension, and even the battered down interest rate on savings I think my wife and I can achieve 50,000 in annual income after tax. With no debt I think we could live on that as we have no debt. And we should be able to as that is probably more than the average family with 3 children has to live on and they no doubt have home and car payments.
No money for exotic vacations but that is not really o much appeal to us anyway.

Jake of OH 12:13AM January 27, 2010

I'm sorry but most of these folks where the big spenders of the 90' and 2000's. Now they have buyers remorse? Too funny. Big point buy what you need and not what y9ou want! Also that 3500 sq foot house did you really need that ? Buy big live big. Don't worry this will all happen again in about 10 years if that. The American publis has a short memory. Also have you gone to the store lately. Have you seen any of those 50inch TV's get smaller? No. Remeber the cars did get smaller back in the 70's but they got big again and they are now getting smaller again. Pick a date when you think they will get big again. Too funny. Here's an investment tip, also save more than you spend and you will be good to go.
Remeber a penney saved is a peeny earned. BF
Even GOD loves savers just read the Bible!

Joker of DC 1:04PM January 18, 2010

If one gets the "right" advice he can set up his retirement very nicely.
I just read a book that gives all the right answers-
Dr. Eva Mor in her new book-"Making the Golden Years Golden" devoted a chapter that explain in simple terms what one should and shouldn't do and a precise plan to gain interest for life.
more info, on the author and the book-
www.goldenyearsgolden.com

Gabi of NY 7:27AM January 18, 2010