I meet a lot of people over the age of 55 – the time when people are looking forward to retirement. Invariably I ask them one question – what are your regrets in life..and the answer (financially speaking) is very interesting…
1. I wish I had done my own business: So many people feel that they should have done something on their own is not funny!! However 99% of those I meet would have failed in their business. Most of them got paid because they had a contract. Yes some of them got sacked – but luckily they found a job elsewhere so there were no financial regrets.
2. I wish I had stood up straighter: Many of the PSU bank employees felt that they could have taken a tougher stand when their bosses asked them to do something wrong, but UNIVERSALLY, all of them lacked guts and choose convenience over conscience.
3. I wish I had started saving/ investing for retirement earlier!
4. I wish I had hobbies – and wish I had developed it in my late 40s instead of now wondering what to do.
5. Wish I had approached retirement more scientifically – with a plan, strategy, etc.
6. Most of them had enough money to retire -but were largely rudderless socially.
7. Regrets about not knowing what to do in the kitchen! many of them could not make a cup of tea.
8. Stupidly paying very high taxes without realizing how taxes can be deferred. Banker Chartered accountants too!!
9. Having a life 100% concentrated on children and their lives.
10. Not having a nice big social circle – of people younger and older than them. Loneliness kills.
there could be more…but this is a start…
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