Why Most Recent Retirees Regret How They Saved

The First Years of Retirement Are Proving Harder Than Expected

The shift from collecting a paycheck to living off a lifetime of savings is one of the most consequential financial transitions a person ever makes. A study from the Nationwide Retirement Institute suggests that, for many, the reality of that transition is landing harder than the plan promised. According to the firm’s eleventh annual Advisor Authority study, more than half of Americans who retired within the past five years say they regret how they saved.

The numbers are direct. Twenty-eight percent of recent retirees wish they had begun saving earlier, and 13% wish they had contributed more each year. Those regrets are not abstract. They are tied to the day-to-day arithmetic of retirement: only 40% of recent retirees say they are on track with the budget and decumulation plan they set before leaving the workforce, while 21% report having to spend more conservatively than they expected.

Perhaps the most telling figure: only one in five recent retirees have avoided tapping their retirement savings by relying solely on guaranteed income from a pension or Social Security. The clear majority are drawing down the self-funded nest egg they built over a working lifetime, in an environment that has been anything but calm.

Why Volatility Hits New Retirees Hardest

There is a reason the first few years of retirement carry outsized weight. When a portfolio takes losses early in the withdrawal phase, those losses are locked in by the withdrawals themselves — a dynamic financial professionals call sequence-of-returns risk. A market downturn in year two of retirement does far more lasting damage than the same downturn would in year two of a career.

The Nationwide data shows recent retirees feeling that pressure acutely. Half made at least some changes to their portfolio in response to market turbulence, compared with a third of those who retired more than five years ago. And 36% said they are more likely to move part of their portfolio toward guaranteed-income strategies given the events of the past year.

Recent Retirees vs. Longer-Term Retirees

Source: Nationwide Retirement Institute, 11th annual Advisor Authority study (Harris Poll, 2026).

Inflation Is the Quiet Force Behind the Regret

Behind the survey’s headline figures sits a macro backdrop that makes any fixed pool of savings feel smaller each month. U.S. consumer prices rose 3.8% in the year through April 2026, the highest annual reading in nearly three years, driven largely by an energy shock tied to conflict in the Middle East. A panel of forecasters polled by the Federal Reserve Bank of Philadelphia projected inflation could climb toward 6% in the second quarter.

For a retiree drawing a fixed amount from savings, that is the heart of the problem. A dollar set aside for a 25- or 30-year retirement has to keep its purchasing power across decades, and inflation at these levels chips away at it relentlessly. This is precisely the environment in which investors have historically turned toward hard assets.

Gold & Silver: One-Year Move Through June 2026

Approximate 12-month change in spot price through early June 2026. Sources: CNBC, Fortune, JM Bullion.

The market backdrop has been striking. Gold set 53 record highs in 2025 and traded near $4,514 per ounce in early June 2026, up roughly 35% over the prior 12 months. Silver climbed even more sharply, gaining well over 100% across the same span to trade near $74 per ounce. Central bank buying has been a steady engine underneath those moves, with official institutions adding to reserves month after month.

Where Gold and Silver Fit for Retirement Savers

No single asset solves retirement on its own, and precious metals are no exception. What gold and silver offer is something most retirement portfolios are thin on: a tangible store of value that sits outside the banking and equity systems and has, over long stretches of history, held purchasing power when paper currency weakened. That quality is exactly what feels scarce to a retiree watching inflation outpace a fixed withdrawal.

A self-directed precious metals IRA lets investors hold physical gold and silver inside the same tax-advantaged structure as a traditional or Roth IRA. The metals are stored in an approved depository, and the account follows the familiar contribution and rollover rules. For savers who already have a 401(k) or IRA and want a portion of it anchored in something tangible, a rollover into a precious metals IRA is a well-established path.

The Nationwide study’s core lesson is that the savers who fare best are the ones who revisit the plan rather than set it and forget it. Adding an allocation to physical metals is one way to do that revisiting — a deliberate step toward a portfolio built to weather inflation and volatility rather than simply hope they pass.

Frequently Asked Questions

Why do so many recent retirees regret how they saved?

The 2026 Nationwide Advisor Authority study found 55% of recent retirees have regrets, most commonly wishing they had started saving earlier (28%) or contributed more each year (13%). Persistent inflation and early market volatility have made those gaps more visible once savings became the sole source of income.

How can gold and silver help protect retirement savings?

Gold and silver are tangible assets that have historically held their purchasing power during periods of inflation and currency weakness. Because they tend to behave differently from stocks and bonds, a measured allocation can add diversification to a retirement portfolio that is otherwise concentrated in paper assets.

What is a precious metals IRA?

A precious metals IRA, sometimes called a Gold IRA, is a self-directed individual retirement account that holds physical gold, silver, or other approved metals in an IRS-approved depository. It carries the same tax advantages as a conventional IRA and can be funded through a rollover from an existing 401(k) or IRA.

Is it too late to adjust my plan if I’m already retired?

No. Financial professionals in the Nationwide study emphasized that reviewing a budget, exploring additional income sources, and reassessing how savings are allocated can be done at any stage. Speaking with a specialist about whether physical metals fit your situation is a practical first step.

How much of a portfolio do investors typically hold in metals?

Allocations vary by individual goals and risk tolerance, and the right figure depends on your full financial picture. A GoldenCrest specialist can walk through how a precious metals allocation might complement the rest of your retirement savings.

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