Not Saving Earlier in Their Career and Not Working with an Advisor
There's a new retiree survey from the Employee Benefit Research Institute. This survey was funded by Edelman Financial Engines. 70% of retirees say that you should invest more and earlier in order to prepare yourself most effectively for retirement. And retirees surveyed in this study who have an advisor are less likely to have financial regret than those who don't have an advisor.
In fact, 90% of those surveyed who have a financial professional helping them felt that the value of that adviser outweighed the cost. So don't focus on gee, advisors are too expensive. If they were truly too expensive, nobody would ever hire an advisor. Clearly, a lot of people find incredible value from what they're paying for what they're getting. You should consider hiring a financial advisor. And Edelman Financial Engines, which funded the research from EBRI, is a place you ought to consider.