BANK ON LIVING

Adam Stewart of Compound Wealth reveals the four retirement regrets he sees time and time again.

PHOTO DEBORAH DE GRAAF

I’ve spent years sitting across the table from Kiwis planning their retirement, and one thing I’ve noticed is that the regrets tend to sound the same.

The first is waiting too long to stop. People work hard and do everything ‘right’, then retire late, only to find their health or energy has already slipped away. I think of my own father here. He passed in his early sixties, and was a hard worker by choice, but there were trips he talked about and never took. I’ve learned through others that retirement’s a window that’s worth protecting.

The second regret is not spending enough early enough. I read Die With Zero by Bill Perkins this year and it put words to something I already believed, which is that most of us are too cautious during the years we’re healthiest and most capable of enjoying what we’ve built. I’ve watched people leave money behind and a bucket list unfinished. To be clear, spending well doesn’t mean ending up with nothing. It means bringing some of that spending forward into the years in which you can enjoy it most.

Third is not tracking progress early enough. This one usually surfaces as anxiety. People ask, “Have I done enough?” and “Can I actually stop?” Without visibility over where you stand, you either over-save and miss out on living now, or under-save and carry that stress for years. The clients who feel calmest are the ones who defined early what a meaningful life actually looks like to them, then built a plan toward it for the years leading into retirement.

The fourth regret is leaning on KiwiSaver alone. Kiwisaver’s a solid tool, but it’s not a full strategy, because you can’t touch it before age 65 unless you’re buying a first home. Investing outside KiwiSaver gives you flexibility. You can access income earlier if you want it, and decisions are made on your terms, rather than your Kiwisaver scheme’s.

Here in the Mount, I meet plenty of people who’ve done the sensible thing their whole lives. The biggest regret I see among them is a missed life. If you’re able to retire part-time, take the trip and spend a little more while you’re well. Security matters, but a life well lived alongside it matters more. COMPOUNDWEALTH.CO.NZ