• 50% of Retirees Believe Cash Is the Best Inflation Hedge
• 58% of Retirees Left Work Earlier Than Planned
• Two Thirds of Older Americans Regret Not Taking Care of Their Health Earlier
• Body Weight and Knee Health
• 7 Amazing Things That Happen When You Walk Every Day
• 15 Major Benefits of Walking
• The Wealth Ladder by Nick Magguilli

Seventy-six percent. That’s how many retirees said they regret not saving more money, according to a recent study.

I’ve worked closely with hundreds of retirees and analyzed survey responses from thousands more, and I’ve noticed an interesting and compelling pattern: their deepest regrets have nothing to do with financial shortfalls.

Instead, their regrets revolve around critical aspects of retirement that impact their sense of purpose, independence, and fulfillment—yet many fail to consider them until it’s too late.

I can’t stop thinking about this quote from former President Richard Nixon, introduced to me in Nick Maggiuli’s new book, The Wealth Ladder, which says:

“To me, the unhappiest people of the world are those in the international watering places like the south coast of France, and Newport, and Palm Springs, and Palm Beach. Going to parties every night. Playing golf every afternoon, then bridge. Drinking too much, talking too much, thinking too little. Retired. No Purpose. While I know there are those who would totally disagree with this and say, ‘Gee, if I could just be a millionaire, that would be the most wonderful thing. If I could just not have to work every day. If I could just be out fishing or hunting or playing golf or traveling, that would be the most wonderful life in the world.’ Those people don’t know life. Because what makes life mean something is purpose. A goal. The battle. The struggle. Even if you don’t win it.”

Nixon emphasizes an important truth: that financial freedom alone doesn’t guarantee happiness.

And while the three retirement regrets I’m going to share with you today might seem purely financial, hopefully, you’ll see how they directly influence your ability to find purpose, maintain independence, and experience genuine satisfaction in retirement.

3 Overlooked Threats to a Fulfilling Retirement

Regret #1 – Ignoring Inflation

Nearly every retiree cites inflation as a top concern, yet very few address it properly.

In fact, according to a recent study from the Center for Retirement Research at Boston College, almost 50% of retirees consider cash as the best protection from inflation.

Inflation is largely misunderstood and can quietly erode your financial independence in retirement.

It also doesn’t feel dangerous when it’s hovering around 2-3%.

But retirees don’t spend like working adults—they pour money into housing, healthcare, and groceries. These categories often surge faster than average prices.

The Rule of 72 helps to illustrate why inflation can be so damaging. At 3% inflation, your money’s purchasing power is cut in half after 24 years. At 6%, it takes just 12 years.

A 2023 Kiplinger study found that retirees are spending 40% more on healthcare premiums than they had anticipated. This is further supported by the Society of Actuaries (SOA), which warns that healthcare costs, historically, have outpaced general inflation, highlighting this financial risk for retirees.

Here’s where it gets worse. Retirees relying on pensions without Cost of Living Adjustments get hit even harder. Their monthly checks buy less every year.

Retirees who lived through the 1970s and 80s saw an extreme version of this when fixed pensions lost over 50% of their purchasing power over a 10-year period.

Social Security provides cost-of-living adjustments each year, but the adjustments often lag behind actual price jumps.

For example, in 2022, the social security increase was 5.9%, while prices rose 8-9% over the prior 12 months.

So, how do you combat inflation and plan properly?

Well, the first step is knowing your real risk. And you can determine this by running your retirement projections through an inflation-adjusted withdrawal calculator.

The difference between a 2% and 4% inflation assumption could mean cutting your retirement short by years or outliving your savings.

Keep in mind that most calculators default to historical inflation averages, so you might consider overriding them with higher percentages to stress test your plan and prepare for above-average price increases, especially as it relates to medical expenses.

Once you quantify the risk of inflation in your plan, consider a combination of investment, income, and spending strategies to adapt to changing economic conditions.

For example, allocate a healthy percentage of your nest egg to global stocks, which have historically outpaced inflation over the long term. Include Treasury Inflation Protected Securities (or TIPS) in your bond allocation. And stay away from exotic solutions like Gold, which has proven to be a terrible inflation hedge over long time periods.

If you plan to buy or maintain annuities in retirement, ensure they have cost-of-living adjustment riders, so you don’t end up like those pension owners in the 70s.

Lastly, consider a dynamic withdrawal strategy, which adjusts your withdrawal rate based on market performance and inflation to help ensure you don’t outlive your money.

Proactively addressing inflation safeguards your financial independence, empowering you to pursue purposeful activities in retirement rather than worry about daily costs.

Regret #2 – Failing to Plan for (Forced) Early Retirement

“I’ll work until 67” sounds reasonable—until life intervenes.

According to the 2024 Transamerica Retirement Study, 58% of retirees left work earlier than planned.

Health problems forced 46% out. Layoffs and job changes pushed another 43% into retirement.

The dream of retiring at 67 collides with reality, because the median retirement age is just 62.

And every unplanned year earlier requires an extra $100,000 in savings to compensate. Yet almost no one prepares for this scenario.

Without a plan in place, retirees could be forced to downsize, reduce spending, or return to the workforce.

Social Security claims jump early as a result of forced early retirement, too, locking in reduced payments for life. A retiree’s projected $3,000 monthly check at 65 could be reduced by up to $800 per month at age 62 at age 62—a six-figure lifetime loss in income.

Perhaps most importantly, forced early retirement doesn’t just disrupt your financial plan; it disrupts your sense of purpose. Sudden retirement can lead to feelings of lost identity and purpose if you’re financially unprepared, pushing you into decisions driven by necessity rather than choice.

To address this risk, stress-test your plan right now: assume your job ends tomorrow, income shuts off, and you’re staring at a 30-40-year retirement.

Would your plan survive? If not, what adjustments could you make if this scenario became a reality? Could you cut discretionary expenses? Relocate to a lower-cost city? Pick up part-time work?

Health insurance costs often hit hardest.

Early forced retirement before Medicare at 65 requires finding a private policy that satisfies your medical needs.

It’s not uncommon for these policies to run $12,000 per year, per person, a dramatic increase if previously covered by an employer plan.

As you stress-test your plan and run forced retirement scenarios, be sure to factor in this potential cost.

On the topic of health, the fact that 46% of people are forced into retirement due to health issues highlights the importance of disability insurance.

And, according to Transamerica’s study, only 28% have disability coverage in place.

If that’s you, begin evaluating potential options. And if you have a policy, now would be the time to review it and confirm you’re properly insured.

Lastly, consider building a forced retirement fund—a retirement war chest that’s three layers deep.

First, 18 months of living expenses in cash. Next, 18 months’ worth in short-term treasuries. Finally, two more years in intermediate-term treasury bonds.

This 5-year war chest buys time to find part-time work or adjust spending without liquidating stocks during downturns.

The majority of retirees surveyed believed they’d have more time to save and prepare, only to find their plans shattered by circumstances beyond their control.

Taking action now can help safeguard your sense of autonomy and purpose if life happens to deviate from your original retirement timeline.

Regret #3 – Not Prioritizing Health Earlier

You can rebuild a retirement portfolio, but reversing a major health issue at 65 isn’t guaranteed.

Perhaps this isn’t terribly surprising, but according to a recent study, 81% of retirees admit their health could be better, 73% fear their bodies will limit their retirement dreams, and 46% enter retirement with no health goals whatsoever.

The financial consequences of poor health are staggering. In fact, Fidelity estimates that a typical 65-year-old couple can expect to spend approximately $330,000 on healthcare expenses in retirement.

Poor health can lead to multiples of that amount, something many retirees aren’t considering.

The hidden cost of poor health is activity loss. For example, the cost of knee surgery may be minimal, assuming you have good insurance, but the real damage is the two years of mobility lost during recovery.

In other words, poor health doesn’t just stress your financial plan— it also restricts your ability to pursue meaningful goals and enjoy the stage of life you worked so hard to save for.

Remember, small changes compound. Losing 10 pounds reduces knee pressure by up to 40 pounds with each step.

30 minutes of moderate exercise five times per week can lower the risk of cardiovascular disease by 30%

10,000 steps per day can reduce blood pressure by 2-4 points.

The best time to plant a tree was 20 years ago; the second-best time is today. The same is true for your health. The earlier you start taking action, the greater the impact. Waiting only narrows your options and increases the cost.

Health is more than another expense; it’s the foundation that determines whether retirement savings fund purposeful activities or medical bills.

And, unfortunately, you can’t outsave bad health, which is why the most secure retirement plan isn’t about accumulating more money.

Bottom Line

Each regret we’ve discussed today—ignoring inflation, forced early retirement, and neglecting health—reinforces Nixon’s powerful insight: retirement without purpose feels empty, regardless of how much money one has.

And all these regrets stem from one common oversight: assuming life will unfold exactly as expected.

Surprisingly, only 19% of retirees have a written financial plan. Don’t become part of this statistic.

This week, choose one simple yet meaningful step: examine your inflation risks, prepare strategies for unexpected early retirement, or commit to improving your daily health habits.

Taking small, deliberate actions now can prevent significant regrets in the future.

Retirement isn’t about achieving perfection—it’s about adapting successfully to life’s uncertainties. The intentional choices you make today will build a future of financial stability, independence, and lasting fulfillment.

Start small, but most importantly, start today.

If you’d like professional help crafting a comprehensive, purpose-driven approach to retirement, consider reaching out to my team by following the link in the episode description right there in your podcast app.

You can also email me directly at podcast at youstaywealthy dot com if you have any questions or just want to say hi.

Thank you for listening, and once again, to view the research and articles supporting today’s episode, just head over to youstaywealthy.com/247.