3 Things 11-10-25

 Thing One

The 5 Biggest Investment Regrets Retirees 

Retirement is the time when financial decisions made years earlier come into sharper focus. Many retirees look back and wish they’d done things differently. Here are five of the most mentioned regrets from a recent article on Marketwatch.com.

1. Not saving enough - early and consistently

According to a MarketWatch survey, nearly 60 % of retirees said they regretted not saving more for retirement. Another version found 76% said they wished they’d saved more consistently.Lesson: The power of compounding and starting early can’t be overstated. Even modest regular contributions beat sporadic large ones later.

2. Skipping or under-funding key protections (insurance, long-term care, emergencies)

The survey also found around 40% of respondents regretted not buying long-term-care insurance or similar safety nets.Lesson: Unexpected costs—healthcare, care assistance, major home repairs—can derail retirement plans. Having a buffer and proper protection matters.

3. Poor investment or withdrawal decisions out of fear or regret-aversion

One retiree talks about how “regret aversion” led him to hold onto a big winner stock far too long (ADBE) instead of locking in gains, and on the flip side to sit out an opportunity (crypto) because he feared being “too early”.Lesson: Both overly cautious and overly reactive behavior can hurt. Having a disciplined strategy, re-balancing, and making decisions based on plan (not just emotion) helps.

4. Lack of financial knowledge or professional help

Another common regret: “I wish I understood money better” or “I wish I had engaged a trusted advisor earlier.”Lesson: Complexity grows as you near or enter retirement (taxes, portfolio draw-down, sequence of returns risk). Getting guidance helps reduce regret.

5. Under-planning for lifestyle and non-financial risks

Many retirees overlook planning for how they’ll spend their time, stay engaged, maintain health and mobility, not just for the dollars.Lesson: Retirement isn’t just “stop working”. It’s a whole new chapter. Financial security + life purpose + flexibility = fewer “I should have…” moments.

 Thing Two

A Primer On Bond and Equity Yield Curves 

In the world of investing, yield curves are powerful tools for understanding market expectations. They tell a story about where investors think the economy—and returns—are headed.

The Bond Yield Curve

The bond yield curve shows the relationship between bond yields (interest rates) and their maturities, from short-term to long-term. Normally, it slopes upward—meaning investors demand higher yields for locking up their money longer. When the curve flattens or inverts (short-term rates rise above long-term ones), it’s often viewed as a warning sign that growth may slow or that a recession could be on the horizon. Because of this, economists and portfolio managers watch the yield curve closely as a gauge of both economic outlook and central bank policy.

The Equity Yield Curve

The equity yield curve applies a similar concept to the stock market. Instead of interest rates, it looks at earnings yields (earnings divided by price) and how they might evolve over time. A steep equity yield curve suggests investors expect stronger future growth and returns. A flat or inverted curve signals lower expected returns—often when valuations are high and optimism is already priced in. Together, these two curves offer a snapshot of market sentiment. The bond yield curve reflects the outlook for economic growth and inflation, while the equity yield curve captures expectations for corporate profits and investor risk appetite. Understanding both helps investors make better-informed decisions about balancing risk, reward, and timing in their portfolios. Today, the S&P 500 earnings yield (earnings ÷ index price) is around 3.3% and the 10-year U.S. Treasury yield is around 4.4%. Historically, the S&P 500 yield has been in the 5-6% range.

From an investment allocation perspective, all this means we either assume higher growth ahead for stocks to justify price or consider whether bonds/bond-like assets (like high yielding slower growing stocks) may be relatively more attractive.  Both assumptions come with risks. 

Thing Three

Just A Thought

“Success is getting what you want. Happiness is wanting what you get.” — Dale Carnegie