An elderly man lost all $126,000 of life savings because he left it in a bag on top of his car, the Daily Mail reports.

The 68-year-old man didn't trust banks, and didn't think his home was totally safe, so he stashed his money inside a blue drawstring bag and kept it in his car instead. From the Daily Mail:

[H]is dreams of a comfortable retirement were dashed when he set off for his part-time decorating job early, with the money still on his car roof.

The man from Southend, Essex, was in tears as he told how he'd saved £2,000 a year all his working life to ensure he could support himself in his retirement.

'My car is never more than 10ft away from me when I am work so I can keep an eye on it. That morning I went to work at about 6.20am and didn't realise I had lost it until noon. I went home and checked my bedroom in case I had left it there. Then I realised I must have put it on the roof of my car.

The man had actually hidden his savings under his bed for many years, but when his guard dog died, he decided to move the money.

Sadly, because no crime has been committed, the police can only treat the incident as lost property, so the pensioner doesn't hold much hope for its return, especially after he and his grandson found empty bags that looked like those in which he'd put some of his wads of notes.

The man said he was gutted, and had worked all his life and had "never been on benefits or asked anyone else for a penny."

Republished with permission from BusinessInsider.com. Authored by Katya Wachtel. Photo via Shutterstock.