If you’re looking to figure out how to respec stats, you’re out of luck. There is absolutely no way to respec stat points in Torchlight 2.
Whether you can respec skill points is another matter, but not that much of one: you can only respec the last three skill points you spent. Any of the previous points you’ve spent are permanent.
Taking the above into account, it’s imperative than you plan your characters out before you create them.
(Note that my screenshots were taken on PC, sorry for any UI confusion!)
How to Respec Your Last Three Skill Points
There are NPCs in any main hub that allow you to respec your last three points, the first skill respec NPC available is Thaymor, and he is available near the start of the game.
Use a Waypoint to make your way back to the Etherian Enclave, the modest hub where you surely spend too much time stuffing things into storage.
Thaymor can be found right next to the Waypoint in the Etherian Enclave, and will offer to respec your last three skill points.
Further respec NPCs are denoted by the circular arrow icon shown below. This one, Zyll, is in Zeryphesh.
Respeccing is initially free or cheap, but the cost increases with higher tier skills later in the game. It’s something to keep in mind, though you should have enough money throughout to cover the costs.
And with that, you know all you really need to know about respeccing in Torchlight 2. It’s still disappointing after all these years that there’s no stat respec and the ability to respec skills is underwhelming, but despite these facts, TL2 is still a worthy ARPG.