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Conversationalist
Posts: 10
Registered: ‎08-22-2010

Re: What Would You Have Done Differently?

Message 31 of 58 (3,474 Views)

I'm happy with 99 percent of the decisions I made early in life to help assure a good retirement and  just prior to and at the beginning of retirement. I don't regret the following few "missteps." None of them have seriously impacted us, but given the chance for a do-over I would correct these "should have"s:

1. Should have waited till 70 to take Social Security instead of taking it at full retirement age of 66. I'd be looking at a 32 percent boost very shortly.

2. Should have bought more coverage when I got long-term care insurance three years ago. Now, it would be prohibitively expensive.

3. Should have taken advantage of one of several stock market meltdowns to convert all or part of my IRA to a Roth.

4. Should have sacrificed a few more dollars from my pension to provide a 100 percent survivor benefit for my wife instead of the required minimum of 50 percent.

5. Should have hung in for two more years at work to qualify for retiree health benefits. I'm old enough for Medicare and our supplemental policy is reasonable cost. It's the low-cost dental, vision and drug coverage that I miss.

Info Seeker
Posts: 1
Registered: ‎11-29-2009

Re: What Would You Have Done Differently?

Message 32 of 58 (3,477 Views)

I would have saved the money I made, for six years working as a contractor, after I retired from my govvernment job.  But, in order to do that and live off my annuity, I would have to have no children that needed my financial help.  I would loved to have invested in Certificate of Deposits that I continued to earn interest on once they matured.  Oh well.

Gold Conversationalist
Posts: 70
Registered: ‎06-08-2013

Re: What Would You Have Done Differently?

Message 33 of 58 (3,486 Views)

I probably would have taken a civil service job with a greater opportunity for benefits and pension.

Info Seeker
Posts: 2
Registered: ‎03-12-2014

Re: What Would You Have Done Differently?

Message 34 of 58 (3,499 Views)

I would have built myself a career-one that I could add layers of learning year after year. becoming empowered by the knowing I could take care of myself regardless of my marital statis.  I became dependent on my husband to support me--something i deeply regret.  Somehow I lost my self suffiency mode and switched over to the good, little housewife.  I took steps backward instead of going forward with my life.  He never insisited I take on this role--I just did.  Somehow I told myself it was expected!!!!!  Mom said "you follow your husband and support him" so I did.

 

So now at 65, I meditate on not sitting in self pity and do the postitive things I am able to do-but, boy oh boy, if only....................

Conversationalist
Posts: 9
Registered: ‎05-23-2011

Re: What Would You Have Done Differently?

Message 35 of 58 (3,501 Views)

I took early retirement from my job to handle some domestic issues and then worked part time for the same employer- unfortunately it did not count or add to my retirement. I'm not sure that I could have done anything different, but if I had been able to work a couple more years it would have made a tremendous difference in my monthly check. The other area that bears looking at is the fact that we have taken in many troubled friends and family members and the cost of providing for those people came out of our monthly living expenses-that money could have gone into a 401K, but I don't know if we would have slept well at night knowing that we failed to help someone who needed us. I guess the bottom line is that we made our bed and I guess we are reasonably happy with it.

Info Seeker
Posts: 1
Registered: ‎01-06-2009

Re: What Would You Have Done Differently?

Message 36 of 58 (3,514 Views)

I would have worked full time until I was at least 70 years of age and then continued on a reduced schedule until 75 years of age. 65 is too young to retire unless you have a business of your own that you can be involved in or you have a large investment portfolio in excess of $1M (if you are single)  so you can travel and be involved with things without the concern of outliving your investments.

Super Social Butterfly
Posts: 589
Registered: ‎07-23-2010

Re: What Would You Have Done Differently?

Message 37 of 58 (3,520 Views)

No I would not have done anything differently.  I am happily retired and secure.

Conversationalist
Posts: 5
Registered: ‎01-28-2013

Re: What Would You Have Done Differently?

Message 38 of 58 (3,529 Views)

I did use my 401K to save our home and after two years still lost it.  We got laid off at 62 and no one wanted to hire us anymore so we took earlier retirement from the USA and Florida, which has worked out fine.

Valued Social Butterfly
Posts: 17,915
Registered: ‎08-22-2008

Re: What Would You Have Done Differently?

Message 39 of 58 (3,600 Views)

I would have accepted the intra-departmental transfer offered to me back after Divestiture; worked until I was 67 to build that house I had planned.  Created the security system I had laid out and now be enjoying the benefits of my own business.

Info Seeker
Posts: 1
Registered: ‎11-17-2011

Re: What Would You Have Done Differently?

Message 40 of 58 (3,605 Views)
I agree that hindsight is 20/20. Find a good financial advisor. Join an investment club and get your feet wet learning about the benefits and downside to investing. I think reading about investing with books from the library or curling up with a cup of coffee at the Barnes and Noble will pay big dividends. Start small and grow your investments. Take responsibility....which is hard to do when the markets take the unforeseen nosedive! But...I am the commander of my ship and take the ups and the downs with dark chocolate!