Top 5 Retirement Regrets of 70-80 Year Olds: Avoid These Mistakes!

Updated: 11/09/2024

Have you ever wondered what older retirees regret the most? I was curious too, so I spoke with several retirees in their 70s and 80s to find out their retirement regrets. It turns out that many of them share the same five regrets, and unfortunately, by the time they realize it, it’s too late to change.

In this post and accompanying video, I’ll go over the Top 5 Regrets from Retirees Aged 70 to 80, so you can avoid these common pitfalls and make the most of your retirement.

Regret #1: They Wish They Had Retired Sooner

The most common regret I heard was the wish to have retired earlier. Many retirees expressed a desire for more time to enjoy their passions and explore new experiences while they were still physically capable.

This answer didn’t come as a shock, and it reinforces why we’re so passionate about encouraging early retirement. More time in retirement means more opportunities to do the things you love while you’re still energetic and healthy.

That’s why it’s important not to listen to gurus like Suze Orman, who says you need to $10M to retire.

Regret #2: They Regret Not Traveling Enough

Another major regret was not traveling more. This makes a lot of sense when you think about it. As we age, it becomes harder to travel—our bodies don’t move as easily, and the demands of traveling can become more challenging.

This is a big reason why my wife Daravy and I make it a point to travel for several months every year while we’re still in good shape. We know that it’ll be harder to do once we’re older, so we’re taking advantage of our mobility while we can.

Regret #3: They Wish They Had Spent More in Their Early Retirement

One surprising regret was that retirees wished they had spent more money earlier in their retirement. Initially, this might sound counterintuitive, but as they explained, it made sense.

As they got older, they realized they were holding onto money they didn’t need, at a time when they couldn’t enjoy it as much due to declining health or energy levels. Many felt they had missed out on experiences they could have enjoyed earlier when they were more active.

Regret #4: They Wish They Had Picked Up New Hobbies

A fourth regret was not taking the time to pick up more hobbies. Whether it was gardening, fishing, or creative activities like woodworking or quilting, many retirees felt they spent too much time in front of the TV, rather than exploring new interests.

In our case, even though we’re still far from our 70s, Dary and I have taken up a new hobby—creating YouTube videos. And if you’ve ever thought about doing something similar, we highly recommend giving it a shot!

Regret #5: They Regret Not Prioritizing Their Health Sooner

Finally, a big regret was not focusing on their health earlier in life. This one really resonated with me, as health has always been our top priority. Dary and I make a point of eating well and staying active, regularly going to the gym four or five times a week.

At the end of the day, it doesn’t matter how much money you’ve saved if you’re not healthy enough to enjoy it. Chronic pain or illness can severely limit your ability to fully experience retirement, no matter how well you’ve planned financially.

Conclusion

In the end, learning from the regrets of others can help you avoid making the same mistakes in your own retirement journey. Prioritize what matters—your time, health, and experiences—so you can enjoy a fulfilling and regret-free retirement. It’s never too early to start planning for the future you deserve.

What about you? Are there any regrets you think you might have in retirement? Let me know in the comments below!