Three in Four Retirees Admit to Major Savings Regrets

Seventy-six percent of American retirees wish they had started saving earlier, while 71% express regret over the total amount set aside for their later years. A new TIAA Institute study reveals that these financial anxieties are often compounded by a lack of preparation for unexpected life transitions and health costs.

Money Talk·July 22, 2026·reads: 978

Three in Four Retirees Admit to Major Savings Regrets

The report highlights a widening disconnect between retirement expectations and the financial reality of those who have already left the workforce. Beyond basic savings, 49% of retirees now regret underestimating the long-term cost of healthcare, while an equal number point to a failure to prepare for career disruptions, job losses, or caregiving responsibilities. Over half of the survey respondents reported leaving the workforce for more than a year due to these unforeseen events.

Surya Kolluri, head of the TIAA Institute, notes that current workforce habits dictate the quality of future retirement. The data suggests a clear path to mitigation: individuals who consult with certified financial professionals report significantly lower levels of remorse. Specifically, only 26% of those who worked with an advisor regretted their handling of life events, compared to 43% of those who navigated the transition without expert guidance.

To bridge these gaps, the Institute urges employers to treat financial wellness as a core benefit rather than a peripheral perk. Recommendations include implementing automatic contribution increases, providing clear education on guaranteed lifetime income options like annuities, and offering more flexible, phased retirement paths. By integrating these tools into the workplace, firms can help employees build the necessary resilience to withstand the complex, often unpredictable nature of long-term financial planning.