3 Financial Regrets This Boomer Shares About Their 60s — And How To Avoid Them
Written by
Cindy Lamothe
Edited by
Zuri Anderson
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Hitting your 60s is often seen as the golden era — retirement is either around the corner or already here, the kids are grown, and ideally, decades of hard work are finally paying off.
But this stage of life can also come with a fair share of “if only I had…” financial realizations. From missed savings opportunities to unexpected expenses, the lessons that surface around this time can be both sobering and eye-opening.
The upside? Those lessons don’t have to be learned the hard way. By paying attention to the most common financial regrets that tend to surface in your 60s, it’s possible to sidestep costly missteps and set yourself up for a more secure, stress-free future.
Think of it as a roadmap to help you plan smarter while there’s still time to make a difference.
So, what are the most common financial regrets people face in their 60s — and more importantly, how can you avoid them? Here are the biggest takeaways, along with practical tips to help you make better money moves today.
Not Earning More When Younger
“My biggest regret is not earning more when I was younger,” Diane Darling, speaker and consultant, and author of “The Networking Survival Guide and Networking for Career Success.”
“When you’re over 50, it is all but impossible to get a job. It’s wise to earn the most money when you can,” Darling said.
By the time you reach your 50s and beyond, the job market can be less forgiving, and starting over or climbing the ladder is far more difficult.
That’s why it’s so important to maximize your income potential while you can. Negotiating salaries, pursuing promotions or even picking up side hustles in your prime earning years can make a significant difference to your long-term financial security.
Failing To Set Up a Robust Emergency Fund
Additionally, Darling suggested that people save at least six months of sufficient funds to live without a job.
“That way, if you are ever asked to compromise your ethics and/or you find yourself out of work, you don’t take a job in a panic,” she added.
Building a strong safety net is another key step in avoiding future financial regrets.
Having at least six months of living expenses set aside provides breathing room if life throws an unexpected curveball — whether that’s a layoff, a sudden health issue or a career shift you didn’t see coming.
With that cushion, there’s less pressure to make quick decisions that might not be in your best long-term interest.
Neglecting Financial Literacy
According to the Pew Research Center, roughly only half of Americans are knowledgeable about personal finances.
“I’ve been homeless and bounced back. Later had to file bankruptcy due to medical expenses,” said Darling. “Life without money — or financial knowledge — is rough.”
The bottom line? Neglecting financial literacy can have lasting consequences, sometimes leading to situations that are incredibly difficult to recover from.
Without a solid understanding of how money works — from budgeting and credit to debt management and investing — it’s easy to make decisions that leave you vulnerable when life’s challenges arise. Medical bills, job loss or unexpected expenses can spiral into crises if there’s no foundation of financial knowledge to lean on.
In the end, the more you understand about personal finance, the more equipped you are to make choices that safeguard your future, no matter what life throws your way.
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