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Kenny P. is one such person.
The 55-year-old TV producer recently started planning his retirement and he feels behind.
That means I was leaving free money on the table every single year.
Some of the funds I chose had fees as high as 1.5% per year.
That might not sound like much, but over time, it really adds up.
He regrets that now.
Plus, I missed out on years of potential growth on that money.
More often than not, I ended up losing money or missing out on gains.
If I had just stayed invested in a diversified portfolio, Id likely have a lot more saved now.
I wasnt saving enough and wasnt making thebest investment choicesfor my goals, he shared.
Once I sat down and calculated how much Id actually need, I realized I was way behind.
If I had done this earlier, I could have adjustedmy savings rate.
You live, you learn!
While I did pay it back, that money wasnt in my account growing during that time.
I just assumed Medicare would cover everything, he said.
Now that Ive looked into it, I realize I should have been saving extra forpotential medical expenses.
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