14 things retirees wish they’d done differently

Stayed realistic about retirement spending

Many people rely on the 70 per cent replacement rule, meaning you’ll need to have about 70 per cent of your pre-retirement income in retirement. Certain expenses might go away in retirement, such as not having a mortgage to pay or children to subsidize.

For some people, however, they could end up spending more because they have more leisure time, so you must think about your personal financial goals.