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Almost four in 10 (39 per cent) pensioners have retirement regrets, research from Hargreaves Lansdown has found.
The research revealed that the top regret for retired people was failing to put together a plan early enough (15 per cent).
In addition to this, one in 10 said they regretted not boosting contributions early enough, while 1 per cent said they wished they had taken financial advice.
The research also revealed that 3 per cent of pensioners said they wish they had kept a closer eye on their investments, while a further 3 per cent said they had not understood the different retirement options.
“No one wants to reach retirement rueing missed opportunities to boost a pension pot, and yet almost four in 10 of us do,” Hargreaves Lansdown’s head of retirement analysis, Helen Morrissey, said.
“By far the most common regret is not having planned far enough in advance.
“It’s an understandable impulse to put it off when you are struggling in the here and now and retirement seems many years away.
“However, the closer you get to retirement, the less you can do if you find you aren’t on track for the lifestyle you hoped for.
“It’s a similar case with boosting contributions – one in 10 retired people wish they had set aside more for their pensions when they had the chance.”
She noted that a lack of understanding around investments and the different retirement options were also highlighted as areas retirees would revisit if they had the chance.
If you need advice to ensure you get the retirement you want, Wealth of Advice can help. We offer a wide range of impartial advice, always tailored to the individual client’s needs and circumstances. For a free copy of our guide Understanding Your Retirement Options, visit Free Guide: Your Retirement Options Explained | WoA (wealthofadvice.co.uk) Alternatively, contact us for a free, no-obligation consultation. Tel. 0191 384 1008 or email enquiries@wealthofadvice.co.uk
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