Additional Coverage:
- Meet the oversavers: Older Americans who have plenty for retirement but wish they’d worked less and vacationed more (newsbreak.com)
Some Americans regret over-saving for retirement, missing out on experiences with loved ones while they were working.
Financial planners advise balancing savings with enjoying life to avoid these regrets.
Joshua Winston, a retiree who oversaved, regrets working long hours and missing out on trips and family time.
Ruth Mills, who is nearing retirement, wishes she had worked less and enjoyed more experiences with friends and family.
Ryan Viktorin, a financial consultant, identifies three types of “oversavers”: those affected by unforeseen events, those anxious about future costs, and those who fear retirement.
Kirk, a retired attorney, realized he oversaved and missed opportunities to travel and share experiences with his family.
Experts suggest creating a financial plan that includes both retirement savings and spending for enjoyable experiences.