Jakarta \u2014 Insufficient savings for retirement has emerged as the\nlargest financial regret among Americans. This finding comes from a\nBankrate survey of 2,078 respondents in the United States, with\nparticipants identifying inadequate retirement saving as their primary\nfinancial regret.<\/p>\n
\u201cRegret over not saving enough for retirement appears every year, and\nthe numbers grow larger with age,\u201d said Stephen Kates, financial analyst\nat Bankrate, citing CNBC.com on Sunday, 1 March 2026.<\/p>\n
Notably, 43% of respondents admitted they had taken no action to\naddress their financial regrets over the past year.<\/p>\n
When asked what could most improve their financial circumstances,\nAmericans cited cheaper necessities, better employment opportunities,\nlower rental rates, and a recovery in the stock market.<\/p>\n
These conditions align substantially with Indonesia\u2019s situation. Data\nfrom the Financial Services Authority (OJK) shows that only 76.3% of\nIndonesia\u2019s population holds bank accounts in formal financial\ninstitutions. Meanwhile, approximately 29 million workers are registered\nas pension fund participants.<\/p>\n
If you currently lack adequate emergency and retirement savings,\nthree financial experts have offered advice on improving your financial\nsituation.<\/p>\n
\u201cStarting late is better than never starting,\u201d said Jake Martin, a\nfinancial adviser from Ohio.<\/p>\n
Addressing Financial Regret<\/p>\n
Several American financial experts have provided strategies equally\nrelevant for Indonesian society:<\/p>\n
1. Extinguish \u2018financial fires\u2019 first<\/strong><\/p>\n Prioritise paying off high-interest debt such as credit cards or\ninformal loans (pinjol). Accumulating interest can consume savings\ncapacity. Another approach to increase savings room is to cut fixed\nexpenses\u2014a strategy that Ashton Lawrence, a financial planner from South\nCarolina, describes as controlling what can be controlled.<\/p>\n \u201cIdentify where money for non-essential spending (discretionary\nspending) leaks away, whether through dining out, excessive streaming\nservices, forgotten app subscriptions, delivery services, impulse\npurchases, or an increasingly expensive lifestyle. Every pound you don\u2019t\nspend is money you can allocate to something more worthwhile,\u201d she\nsaid.<\/p>\n 2. Build emergency funds covering 3-6 months of living\nexpenses<\/strong><\/p>\n Emergency funds prevent you from returning to debt when unexpected\nsituations occur, such as job loss or sudden medical expenses. Prepare\nemergency reserves based on 3-6 months of living costs.<\/p>\n Emergency funds are also crucial in reducing dependence on\nhigh-interest debt when unforeseen circumstances arise.<\/p>\n 3. Increase retirement savings<\/strong><\/p>\n After addressing the above two matters, build retirement funds for\nlater life. \u201cWhilst most people target saving 5% to 10% of their income,\nsomeone trying to catch up should seek ways to increase their savings\nportion to 20% to 30%, particularly if they start serious saving in\ntheir 40s,\u201d Martin said.<\/p>\n In certain circumstances, you may also need to consider delaying\nretirement age if you require more time to save.<\/p>\n \u201cThe exact amount you need to save will vary depending on a number of\nfactors, including your age and the lifestyle you desire in retirement,\u201d\nhe concluded.<\/p>",
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