1. Invest in something other than your retirement-savings plan
Many experts recommend using investment vehicles in addition to your employer’s retirement plan to ensure that you’ll have enough to fund your golden years.
If you’re maxing out your 401(k) plan, consider contributing money to a Roth IRA or traditional IRA, research low-cost index funds — which Warren Buffett recommends— and look into the online-investment platforms known as “robo-advisers.”
Of course, you’ll want to make sure that your general finances are in order before you invest. But if you have a sound emergency fund, have prepared for future expenses, and are debt-free, then the quicker you put your money to work and jump start its growth, the better.
2. Invest in yourself
The wealthiest, most successful people are constantly exercising their brains and looking for ways to continue learning long after college or any formal education is over.
Self-educate by enrolling in a course, attending a work-related conference, or investing in books. On a similar note, invest in your health — consider pursuing an appealing form of exercise, or anything else that will better your health and strengthen your mind.
3. Contribute at least 10% of your income to a retirement account
You should already be contributing to your employer’s 401(k) retirement account, and your 30s are a time to increase that contribution.
Many experts recommend putting aside at least 10% of your income. That may not be possible when you’re first starting out your career, but it’s a good goal to have by 40.
To work your way up to 10% of more, get in the habit of upping your contribution on a consistent basis — either every six months, at the end of each year, or whenever you get a pay raise.