Secrets of Successful Retirees

Don’t take our word for it.  Take theirs.

For the fifth consecutive year, Consumer Reports National Research Center polled over 20,000 readers to ask them what what they did right and wrong in preparing for retirement.  

Boy, did they get an earful.

We’re not surprised by the results.  In fact, they are right in line with our own observations working with real people day after day in our practice.  In truth, we’re gratified to hear that over 20,000 highly educated, proactive and financially-aware consumers echo what we’ve been telling clients for years.

The Right Way

Here is what readers say were some of the most important steps they took to get it “right” in retirement:

  • “Lived modestly and did not spend beyond my means.”
  • “Maximized my 401(k) contributions while working.”
  • “Started planning at an early age.”

The Wrong Way

And here is what readers say they did “wrong”:

  • “Underestimating expenses”
  • “Investing too conservatively” 
  • “Not diversifying enough”

The conclusion? “While none of us can control the economy, you can take steps to increase the odds of a successful retirement on whatever timetable you choose,” says Consumer Reports. 

We’ve observed that our clients who are most successful in retirement plan ahead, seek help when needed, are mindful of their resources and spending, and approach the future with a spirit of flexibility and optimism.  Baby boomers may spend almost as much time not working in retirement as they did working  to prepare for retirement.  Small wonder, then, that a successful retirement requires a fair amount of planning and skill.   

Want more information about the Consumer Reports survey?  See the March 2012 Consumer Reports Money Adviser or check out Consumer Reports online  for a summary of the survey results.

About Mari Adam

Mari Adam, Certified Financial Planner™ has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

2 Responses to Secrets of Successful Retirees

  1. Ron Schaper March 7, 2012 at 9:17 pm #

    Hi Mari,

    After following your email link to your website (I was reading the retirement article), it occured to me that I could send you the YouTube link to the TV clip that channel 10 did on “Retire in Style.” The reporter that did the story had sent it to me to do whatever I wanted with it. I uploaded it to YouTube as Endurance-Retire in Style
    Perhaps you would want to link it to your website.



    • Mari Adam March 14, 2012 at 11:44 pm #

      Thanks, Ron! That would be great! I thought it was a great story and the video of you, the boat, and that beautiful blue water could not have made sailing look more appealing! Mari

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