5 Financial Tasks to Tackle in Your 30s

Things change once you leave your 20s behind. In your 30s, marriage figures more prominently. There’s kids or future kids. And of course, you’re in your income-earning, wealth-building years so you start to plan for retirement.

These major themes in your 30s set up 5 financial tasks to tackle.

1. Make sure you’re taking care of your family in the event the worst happens.
   1. Put life and disability insurance coverage in place
   2. Collect your estate documents
   3. Update your beneficiaries
2. Financially prepare to have kids or get on track if you already have them.
   1. Plan for the costs of a baby
   2. Start saving for college
   3. Teach your kids basic money handling and saving tips
3. Have a plan in place to pay off debt.
   1. Pay off high-interest debt first
   2. Reconsider whether to pay off low-interest debt (or invest)
4. Boost your retirement plan.
   1. Increase your retirement savings any time your income or lifestyle changes.
   2. Make sure your investments are low-cost and diversified.
5. Live a little and give back
   1. Put your resources toward the things that matter most to you. If your savings are on track, then have some fun with what is left over.
   2. Now is the perfect time to start giving to charity, if you haven’t already. Find a cause you believe in and support it.

Hopefully, you’re steadier in your career and earning more in your 30s than you did in your 20s. Now is the time to plan carefully for the future and make wise lifestyle choices.
Many retirees suggest that choices made in their 30s defined their entire retirement lifestyle. You have your life in your hands!

-Leighton Lindstrom-