As financial advisers, we spend most of our time helping clients look forward. But some of the most valuable insights we’ve ever encountered and incorporated into the advice we give come from older people looking back.

In recent years, we’ve made a point of asking our septuagenarian and octogenarian clients what they wish they had done differently with their money. Their answers, presented here in composite form, are honest, sometimes emotional and often strikingly similar (names have been changed for privacy). If you’re in your 40s or 50s and are just now getting serious about your financial life, these reflections could save you years of stress and regret. They also contain useful nuggets of wisdom for younger investors.

Harold, 83, a retired business owner, spoke plainly: “I always th

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