No. 1 financial regret of older Americans

Not saving for retirement early enough18%Not saving enough for emergency expenses13%Taking on too much student loan debt9%Taking on too much credit card debt9%Not saving enough for your children’s education8%Buying a bigger house than you could afford3%.

Other financial regrets that Americans have include not having enough saved for emergencies (13%) and taking on too much student loan debt. Indeed, fully 62% of Americans have no emergency savings, according to a survey released last year by Bankrate.com; experts recommend that you have at least three months of living expenses in savings for emergencies. Furthermore, the amount of debt that students graduate with has risen rapidly: In 1993, it was less than $10,000 per student, in 2012, it was nearly $30,000, according to the Institute for College Access & Success.

Their biggest regret: not saving for retirement early enough (nearly one in five Americans put this in the No. 1 spot). What’s more, among those 65 and up, 27% said this was the biggest regret, compared with 17% of those aged 30 to 49.

Source: http://finance.yahoo.com/news/no-1-financial-regret-older-092331528.html 

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