Biggest Financial Regret

One of the great things about two of my previous financial jobs was that I got to talk to a lot of work-a-day people about their money.  I was always fascinated to hear about their stories and opinions on money.  Their opinions would range widely.  Some people thought taxes should be lower, others thought they should be higher.  Some people thought money was unimportant, and others thought it was the most important thing they could concentrate on.  Some thought they should juggle their credit card balances from zero interest introductory rate card to zero interest introductory rate card, while others avoided credit cards like the plague.  Despite all these differences, I heard one thing over and over:

“I wish I had saved more when I was younger.”

I would have a client sitting in an office, looking down at a financial plan that would meet the majority of their retirement goals while moderating their risk exposure.  They would take a look at the projections, and speak quietly, almost as much to themselves as to me.  They would say:

“I wish I had saved more when I was younger.”

It really didn’t matter how much they made or how much they had saved, it was different for every person, but they’d say the same thing.  Then they would tell me different stories of their lives.

So, avoid the biggest money regret, save money while you’re young.

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