Seventy-six percent of respondents to consumer financial services company Bankrate’s May Financial Security Index survey said they have financial regrets, and not saving for retirement early enough was the most commonly cited financial regret.
The regret was stronger as participants got older.
Baby boomers (turning 55 to 73 this year) with financial regrets were most likely to cite not starting early enough to save for retirement as their top regret (33%), followed by 23% of the Silent Generation (aged 74 or more years) and 22% of Generation X (aged 39 to 54).
Percentages of survey respondents reporting no financial regrets generally increased with age, too, however. Thirty-seven percent of Silent Generation member respondents, 22% of baby boomers and 11% of Gen X said they had no financial regrets. Eighteen percent of Millennials said they had financial regrets, however.
