Middle-aged Britons cite poor financial management as biggest lifetime regret

40-somethings across the UK cite not saving enough money as one of their biggest lifetime regrets, according to a new study conducted by high-street bank, Nationwide.

A poll of 2,000 men and women aged between 40 and 49 revealed that nearly a third of middle-aged Britons regretted not taking financial management seriously in their younger years.

Two fifths told the poll that they feared their pension would fall short of their needs when it came to retirement – and a large number cited inadequate budgeting, poor future planning and careless financial management as serious regrets.

Andrew Baddeley-Chappell, Nationwide’s head of savings policy, said: “At a time when we could be considered in our prime, our research suggests that some Brits are finding their 40s quite tough.

“Their message to the younger generations would be to spend more time looking after your finances and your fitness – avoid that squeezed middle in both senses.”

Despite financial concerns, 13 per cent of 40-somethings told the poll that they had paid off their mortgage.

However, the study highlights the importance of maintaining strong financial health and planning effectively for the future – whether that be in business, or at home.