From Avoiding Risk To Racking Up Debt, People In Their Mid-30s Open Up About Their Financial Mistakes And Regrets. 'Time Really Is Money'

Financial Regrets in Mid-30s - Many individuals in their mid-30s express significant financial regrets, particularly regarding missed investment opportunities and poor financial decisions related to relationships [1] Retirement Savings - A prevalent regret is not saving for retirement early enough, with many individuals admitting to cashing out their 401(k)s during job changes or contributing insufficient amounts in their 20s [2] - Comments reveal that some started saving late, with one individual starting at age 34 and wishing they had contributed earlier to benefit from compounding [2] Investment Risks - A common theme is the regret of playing it too safe, with many individuals avoiding investments due to fear and opting for low-return savings accounts, resulting in missed opportunities for significant gains [3] Debt Management - Credit card debt and unnecessary loans are frequently cited as major regrets, with individuals acknowledging the detrimental impact of such debt on their financial health [4] - One individual mentioned spending $70,000 on a recording studio before COVID-19, leading to financial loss and missed homeownership opportunities [4] Relationship Decisions - Poor relationship choices, such as marrying the wrong person or co-signing financial decisions, have led to significant financial setbacks for many individuals [5] - Regrets include incurring debt for weddings and honeymoons, followed by divorce and continued financial obligations [5] Lifestyle Inflation - Many individuals regret lifestyle inflation, characterized by excessive spending on material goods to impress others, which ultimately restricts financial flexibility [6] - Comments reflect a realization that such spending habits, while seemingly acceptable at the time, can lead to long-term financial constraints [6]