You are at a crucial juncture in your life when you are in your thirties. Many people have by now settled in their careers and they have even started to save a little money for their retirement. On the other hand, there are also many individuals who are still finding their feat. They are either not well settled in their chosen careers or still paying the installments of their student loans. Finally, there are few who cannot manage their finances, having taken a mortgage loan and finding it difficult to repay it every month.

One thing running common with all individuals in their 30s is the fact that they still have a lot of time on their side. Though this time is much less than what people in their 20s have to plan and do about their future, they can still make moves that can have far reaching consequences for their financial future. It is a fact that a high percentage of men and women squander money and time in their 20s as they are still acclimatizing with their adulthood. In this age, most people are not able to realize the folly of not doing something concrete for their financial future. Men and women are enjoying their youth and the earning potential and they do not have the time to pause and think about a time in future when they will be infirm and also lose the health and capacity to earn high income.

Different people are facing different circumstances in their lives in their 30s. Some are married and also have one or more kids while some are still unmarried and enjoying bachelor parties. Some individuals are able to have a property against their name by now and some are really lucky to be earning a high income to give their loved ones a very good life and all the facilities that money can buy. This article does not intend to focus upon these different circumstances. Instead it intends to draw the attention of all those in their thirties to take a look at their financial plans and make moves that ensure enough money to face the future, especially the life after retirement.

  1. Resist the temptation to live a royal life

It is natural and understandable for someone in his thirties to give up on his frugal ways that were the hallmark of his student life. After spending the last decade on cheap clothes and fast food, it is the impulse of most individuals to buy expensive items for personal use and for the use of the family members. People also start to think in terms of buying a bigger and better house and a bigger and better car. However, it is prudent to delay the pleasures of life for as long as you can in your thirties, at least till the time you have the kind of income to afford the riches of life. Do not add to your liabilities now. Rather, you should save your money to enjoy in your later years. Buying a property in your name only creates a liability for you as you are required to make payments every month for many numbers of years. It is not an asset to earn income for you in the form of rentals. It is far better to start investing in a scheme to increase your money.

  1. Save as much as you can

Thirties is a time in life when people have lesser liabilities than they have when their kids are grown up and ready to join college for higher education. This means thirties is a time when an individual can save a good percentage of his monthly income to invest it in a lucrative scheme. If you are not careful, you could spend all your income now when your responsibilities are not too many. Just recall the time when the installment of your student loan was hanging like the proverbial Damocles sword over your neck. Why not make the most of this fruitful time and save money for your future?

  1. Start to keep track of your spending

Many people do not know where their money is going as they do not make a budget and spend according to it. This is really a shame as it is one of the prerequisites of sound financial planning to know the head on which you are spending money every month. If you keep tab of every dollar that you spend, you will know how much money is being spent on unnecessary things and habits like eating out and drinking. If you can control your spending according to a budget, you will find that it has become much easier to save money every month for investment in a mutual fund or some other investment scheme. Going out and eating out are two habits that are pretty expensive and they can set you back by a solid amount of money every month.

  1. Make a steady advance in career

If you spent the large part of your 20s trying to add feather in your cap, now is the time to make the most of your skills. Apply the skills you have learnt to add to your income so as to be able to not only enjoy life but also to save some money for your future. You may have a settled career, but always be on the lookout for a jump or a switch to another job or business that can fetch a higher income for you and your family. This is the phase in your life when you are at the peak of your physical and mental health. So make the most of your brain and body and try to increase your earnings in your thirties.

  1. Take a look at your retirement savings plan

Most people take their life after retirement lightly when they are in their thirties. This is because they are in the prime of their health and earning ability and never imagine themselves as weak and without money. But you are dependent upon your savings after retirement as the regular source of income dries up after retirement. The manner in which prices of commodities are increasing with each passing year and the exponential rise in healthcare services bills, you need to rethink your strategy for your future savings. Although 401k is a rock solid retirement plan, you must think of more innovative investment schemes that yield higher returns so as to be able to multiply your money.

Preparing for your financial future is the key to your actions during your 30s. Managing your income in the right way is the only way you can maximize your savings for your retirement. If you cannot think past your 401k or Roth, it is better to hire the services of a financial advisor. These professionals help in drawing your financial plans for future based upon your future goals and priorities. They are also better aware of all the investment schemes and tools. They can help you in having a portfolio that achieves a higher growth rate for your money without increasing the risk factor. A little payment to your financial advisor can go a long way in ensuring a better future after retirement.