What 1,000 Retirees Regret About Waiting For $1 Million

What one thousand retirees regret about waiting for one million dollars In today's video, we're going to reveal the biggest regret shared by over one thousand retirees, and how it all comes down to one simple truth: They never stopped to run the numbers. Many retirees delay their freedom by chasing a one million dollars retirement goal, a number that felt safe, but turned out to be arbitrary. When we sat down with them, did the math, and looked at their real situation, one thing became clear. They could have retired earlier. They didn't need more money. They simply needed a plan. Over the years, we've helped people break free from the one million dollars myth by walking through their numbers line by line. And what we found shocked even us. People were sacrificing years of good health, time with their families, and meaningful life experiences, all because they were chasing a number that wasn't even necessary. So today, we're going to walk you through what we've learned from those conversations and show you how to determine whether you already have enough to retire confidently without waiting another year. So let's get into it. Let's start with the myth itself. Somewhere along the line, one million became the magic number, the golden ticket to retirement security. But is it really? According to Fidelity, only about twelve percent of Americans actually retire with one million dollars saved. And yet, thousands retire each year with far less. And they're doing just fine. In twenty twenty three, Vanguard reported the median four zero one ks balance for those over sixty five was just two hundred and thirty two thousand. That's not even a quarter of a million dollars. Yet, these retirees made it work. We started running the numbers with real people, and here's what we found out. Let's say you need four thousand a month in retirement, forty eight thousand a year. If Social Security covers twenty five hundred a month or thirty thousand a year, you only need to pull roughly eighteen thousand dollars annually from your savings. Over twenty five years, that's four hundred and fifty thousand, not a million. The media doesn't tell you this. Financial rules of thumb don't consider where you live, what you spend, or whether you have other income. Retirement is not one size fits all, and when we've helped people realize that, they often found out they could have retired years earlier. After running the numbers, most people said the same thing. I wish I'd done this sooner. Because while they waited to accumulate one million dollars their health was quietly slipping away. Healthline and CDC data report that the average American develops their first chronic condition around age sixty seven. By the time many retirees hit their target, their bodies weren't up for the adventures that they had planned for. In fact, studies from Health Affairs and Harvard show people who retire at sixty two get an average of seven more healthy years than those who wait until age sixty eight. That's two thousand five hundred and fifty five days of better energy, more freedom, and stronger relationships. We ran the numbers with Dave, who delayed his retirement until age sixty eight. He earned an extra two hundred and forty thousand dollars but lost years in his prime. His wife, Sally, developed Parkinson's, and the trip to Italy they saved for? Gone. When we looked at his health timeline against his finances, he realized too late that his wealth came at the cost of wellness. What if he retired at sixty two with less money but more life ahead of him? Run of the numbers didn't just reveal financial clarity, it brought emotional clarity. A twenty twenty two Transamerica Center for Retirement Study survey found fifty eight percent of retirees regret not spending more time with their family during their health issues. And that regret doesn't go away, it deepens. We sat down with a client who delayed retirement for five years, hoping to earn an extra two hundred thousand dollars towards their retirement. But in that time, his granddaughter went from a toddler to a preteen in the window to bond with her closed. He told us, I never ran the numbers. I just assumed I needed more. Before he met with us, another client told us he had been planning a fishing trip with his father for years, but he wanted to postpone retirement for one more bonus cycle so he could reach a specific number in his retirement portfolio. Sadly, his dad ended up passing away just before they could go on that trip. And when we looked at his finances, he broke down. He could have actually retired two years earlier. He just didn't know. These are the regrets that never show up in a spreadsheet. But when we run the numbers and look at what's really at stake, they hit the hardest. And that's the kind of the twist the people who reach a million dollars often still don't feel secure. Take Mike. He retired with one point one million dollars He thought he was golden. But when we sat down and ran the numbers, we uncovered a problem. Mike lives in California. His monthly expenses were about seven thousand dollars per month. He had two thousand two hundred dollars a month from Social Security, meaning he was drawing four thousand eight hundred dollars a month from his savings around fifty seven thousand dollars a year. Do the math one point one million dollars divided by fifty seven thousand dollars equals about nineteen years. But that's before inflation, market drops, or unexpected expenses. At that pace, and the way his assets were allocated, his money would have been gone by the age of seventy eight. We helped Mike restructure his plan through our three sixty five Retirement Planning Framework, resulting in more guaranteed income, lower early withdrawals, and a flexible spending strategy. He told us, I realize now I didn't need more money. I just needed a plan. That's the lesson we've seen over and over again. One of the biggest surprises from running the numbers, how often people give up chasing just a bit more money. Let's say you work three extra years to earn an additional hundred and fifty thousand. On paper, that sounds like a win. But when we map that against lost experiences, missed time, lost vitality, stalled passions, it often wasn't worth it. In fact, one client told us, I worked those three years to feel safer, but those were the exact years I wanted to write my book and travel with my partner. Now I'm too tired to even start. Think about it. Working three years nets you an extra one hundred and fifty thousand dollars But what if that delay caused you to miss thirty six months of your best and healthiest years? All those mornings of sleeping in, taking hikes, visiting grandkids gone. When people see the trade off in time versus money, the regret hits hard. They realize that what they will lose is freedom, fulfillment, purpose that isn't something they can buy back later. Running the numbers also opened retirees' eyes to something else, how their choices affected their families. We met people who worked into their 70s thinking they were doing it for the family. One client broke down, and when we showed him how he could have afforded to retire three years earlier. He missed his grandson's early childhood. Memories and experiences he can't get back. We also ran the numbers with couples who didn't realize the stress of work and long hours was damaging their marriage. Time together was constantly postponed. When they saw that retirement had been an option all along, it changed everything. Not just for them, but for their entire family dynamic. So how do you know if you're really ready? You need to run the numbers. That's what we did with Mark and Linder. They had six hundred and eighty thousand dollars saved, a modest pension, Social Security of three thousand two hundred dollars per month, Their lifestyle costs five thousand dollars per month. We plugged everything in their expenses, the guaranteed income, inflation adjustments, market scenarios. What we found? They didn't need a million dollars. They had enough. We showed them how to safely withdraw what they needed and still preserve their long term security. They retired at sixty three, and they haven't looked back. Here's how you can do the same. List your monthly retirement expenses. Add up all your guaranteed income, Social Security, pension, any annuities. Subtract the expenses from income to find your shortfall. Multiply the annual shortfall by the years you'll need to fund, and then factor in growth. And then adjust based on location, health, and lifestyle goals. You might already be closer than you think. Don't wait for an arbitrary milestone. Do the math, run your numbers, and if you need help, fill out the questionnaire in the description. We'll send you a personalized video walking through your retirement plan. We'll see you in the next video.