“What Are Senior Citizens’ Biggest Financial Regrets From Their Twenties?”

“What Are Senior Citizens’ Biggest Financial Regrets From Their Twenties?,” by Mike Brown, LendEDU

“In our latest survey of 1,000 senior citizens, LendEDU sought to uncover how older Americans are faring financially and if they made the right decisions throughout life to live comfortably in their later years. … Here were a few key takeaways from the study:

  • 55% of senior citizens said they have not saved enough for retirement, 18% were not sure if they had enough saved, and 27% felt as if they did
  • 21% of older Americans, the plurality, indicated that their biggest financial regret from their twenties was not saving enough for retirement
  • 69% of respondents stated that Social Security benefits are a critical part of their financial strategy while 47% said the same regarding life insurance”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Generally people don’t regret failing to plan, save or insure for long-term care until they need it and end up on Medicaid.

What Are Senior Citizens’ Biggest Financial Regrets From Their Twenties?

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