A random, retired YouTuber did a simple video exploring the top 5 regrets from other retirees he interviewed (all in their 70s). It blew up to almost half a million views (and counting). Let’s see what regrets made the list and, more importantly, explore what proactive steps you can take to avoid having the same regrets when you retire. Important Links: Website: http://www.yourplanningpros.com Call: 844-707-7381 ----more---- Transcript: Speaker 1: A random retired YouTuber did a very simple video explaining the top five regrets from other retirees he interviewed all in their seventies. This week we're going to talk about those regrets here on Plan With The Tax Max and see how they line up with clients that come in to C & Tony. Let's talk about it. Here we go. Hey everybody, thanks for tuning into the podcast. Thanks for hanging out with Tony Morrow and myself as we talk investing, finance, retirement here on Plan With The Tax Man. He has been doing this for many, many years and he's a qualified professional to help you with your retirement situation as a CPA, a CFP, and an EA of 30 plus years in the industry. Again, a great resource for you to reach out to. And Tony, I thought I'd share this with our listeners and stuff out there. We'll put a link to the video for folks who want to check it out. It was a very simple video. Nice guy. Seemed very pleasant, just asking some other retirees. I think he was maybe around 65 or so. These folks were all over their seventies. It's got like a half million plus views of this video to talk about the things they regret now that they're further into retirement. And maybe so we can share some proactive steps because you do this day in and day out of ways to avoid having some of those similar regrets when our folks or our listeners retire. Okay? Tony: Sounds good. Speaker 1: And of course if you haven't checked it out, go check it out folks. Like I said, it's a pretty good video. But number one, and I think this is probably fairly not surprising across the board there, they wish they had retired earlier. Thinking about that, if they're in their seventies, they probably got to where they're like, "Hey, this is pretty great. I wish we would've been able to do this a little bit sooner." And I know more and more people want to retire earlier, but it certainly is a math problem you're going to have to solve for if that's a regret you don't want to have. Tony: And I have watched the gentleman's video and I would encourage everybody to go watch it because it is informative. And almost all of these, I can relate back to my own father, but many clients as well. But really a lot of people, if you don't have this on your mind and you're not planning for it ... And it all comes back to what we always talk about is enlisting the help of your advisor to help you with this. But if you wait too long, generally what people are saying is, I continue to want to work and I thought that I would just push it off and everything's going to be okay. Maybe not financially, and my own father worked too long. He worked till he was 80 years old. And that now all of a sudden stuff starts happening, whether you lose a spouse or your health deteriorates and then you feel like you can't enjoy it like you thought you were going to. And a lot of people have this regret because of that. And a lot of them, I think my father included, didn't really have a plan in place to say, okay, this is the end date I'm going to now start the next chapter of my life. And they wake up one day and they're into their retirement and they can't do what they wanted to do. Speaker 1: And all five of these, you literally can link them together and see how fixing a one or two things could possibly fix all of these or eliminate these regrets. Tony: Exactly. Speaker 1: Wishing you retired earlier, well, A knowing that you've got the funds to do so is going to probably be, I think, paramount there because you don't want to get into retirement too early and then obviously run out of money. That's the number one fear for most people. Number two, Tony was they wish they had spent more when they did first retire. I think to me, this comes right back to that math problem of they got into retirement ... Or like many people do, they get to retirement. Maybe they fudge the math, a little back of the napkin math or whatever, and they're like, "Yeah, we can make this work, but we'll just play it a little close to the chest in retirement," and then they don't wind up maybe doing those things that were on their bucket list early on. Then they realize, hey, we are going to be fine. But now our bodies, to your point a minute ago, won't let us go do the things. I wish we'd have done that sooner. So again, this to me all comes down to having a spending plan and a strategy. Tony: Yes. And we do this with every single retiree that we work with, is come up with a spending plan. We come up with a ...
