Over a third (36 per cent) of UK adults cite not saving consistently from a young age as their biggest financial regret, according to independent research conducted on behalf of Handelsbanken Wealth & Asset Management.
This sentiment is widespread across age groups, with 35 per cent of 18-34-year-olds, 42 per cent of 35-54-year-olds, and 33 per cent of those over 55 selecting it as their top regret. Women feel this regret more acutely than men, with 40 per cent versus 32 per cent. Following closely, not starting a pension early ranks as the second biggest regret for 24 per cent of respondents. This is followed by incurring too much debt (19 per cent), missing the chance to get on the property ladder (13 per cent), and missing out on high-interest savings accounts (13 per cent).
Interestingly, a quarter of respondents reported no financial regrets at all, with this figure rising to 39 per cent for those aged 60 and above, suggesting greater financial security with age. Conversely, getting on the property ladder stands out as the most significant financial accomplishment across all age groups, with 35 per cent of individuals naming it their biggest achievement. Other major accomplishments include paying off debts.
Alasdair Wild, Area Manager at Handelsbanken Wealth & Asset Management, commented, “While younger generations may shy away from thinking long-term, building a solid, tailored financial roadmap at an early age can provide a real sense of security and purpose, helping individuals progress further on their journey to achieving their financial goals.”
