Want a Happier Retirement? Try These Two Easy Habits

Core Insights - Retirement planning has become more complex due to increased life expectancy, reduced pensions, and rising healthcare costs [1] - The top two retirement regrets among Americans are insufficient savings and not starting to save early enough, which negatively affect emotional health and life satisfaction [2][8] - Retirees who regret their financial preparation are three times more likely to report low emotional well-being compared to those who do not [3] Saving Strategies - Starting to save earlier is crucial; Guardian's data indicates that two in five workers and one in five retirees regret their financial preparation [4] - Compounding interest significantly benefits those who invest over long periods; for example, a 25-year-old investing $200 monthly at a 6% annual return could accumulate about $400,000 by age 65, compared to only $93,000 if starting at age 45 [5] - Many retirees leave the workforce earlier than planned, with 70% doing so due to unforeseen circumstances, emphasizing the need for early savings [6] Current Sentiment - The Federal Reserve's report shows that only 35% of non-retired adults feel their retirement savings are on track, indicating a widespread sense of being behind in savings [7] - The importance of saving more than feels comfortable today is highlighted, as it can significantly impact the quality of retirement life [8]