Americans are retiring sooner than they expect, and most retirees wish they had done a better job saving.
Those are the conclusions of a new report from TIAA Institute, a research arm of the retirement services provider.
The findings are probably related, TIAA leaders say. Workers who retire early have less time to save, and their savings must cover a longer retirement.
Roughly three-quarters of retirees surveyed said they regret not saving earlier in their lives. Nearly three-quarters said they wished they had saved more.
“People are expressing regret,” said Surya Kolluri, head of TIAA Institute. “That’s a powerful emotion. We can take that emotion and apply it to people who have not left the workforce.”
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