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Onto Your 30s

Onto Your 30s

Ah, now you are thirty, it should be getting easier.  You are established in your career, you have picked up some wisdom and appreciate,  beyond the academic theories of the University, how businesses in the real world operate.  (Not that clean or efficiently as we all thought in our 20s, but they do work.)

You are making decent money, having progressed in your career, but you are realizing that the clock seems to run a little faster as we age.  Therefore the children’s education, a decision to move out of the starter home and your retirement maybe more concerning.  Couple this with some of the uncertainties of the American economy and you may be feeling overwhelmed.

  • How much do I need for retirement?
  • Should we sell this starter home and move to our dream home?
  • Do I really need a will?
  • How much will the kids’ education really cost?  That much!!!!!
  • How am I supposed to save for retirement or the kids’ education when we don’t have any free cash?

Yes, you think it should get easier, but the load just seems to be increasing.  Now it is absolutely crucial to have tight control over the family’s financial situation. 

Goals for thirty somethings:

  • Continue to maintain sterling credit reports and scores
  • Strive to save 10% of gross income every year
  • Maximize employer contributions to retirement plans
  • Invest for growth in long term investments, such as retirement plans
  • Carry adequate insurance on life, home, health, auto, disability
  • Update the estate plans for yourself and your parents


  • Continue or start immediately to track your family’s cash flow.  The cash flow is the lifeblood of the family’s financial health.  You can use this to diagnose your family’s financial position.  Not knowing this, not analyzing this, results in poor financial decisions.
  • Write or update those wills!  Your family situation has changed drastically in the last decade, most likely your documents are not in alignment with your current situation.
  • Review your life insurance coverage, again, this may not be adequate given the changes in your life in the last ten years.
  • Review your disability insurance coverage.  What’s that? You don’t have disability insurance!  Statistically, a person age 35 is three times more likely to be disabled for extended periods(more than 90 days) than to die before age 65!  Disability insurance is often overlooked by individuals.
  • Start performing annual financial reviews to monitor and adjust the financial health of your family.

You have progressed in your career, you have learned some management skills about people, projects, processes.  I am simply encouraging you to transplant some of these professional skills into the management of your personal financial affairs. Again, my drumbeat: no one else will do this for you, take the initiative and control your finances, don’t let your financial life be dictated by the paycheck cycle.