In Your 30s
Fully fund your 401k and a Roth IRA. Now that your career’s on course, Hunt advises funding your retirement accounts to the maximum. Set up automatic deposits so you don’t have to think about it.
Buy a home. Since you’ve been saving through your 20s, you should be able to use some of that money for a solid down payment. However, Hunt recommends that you don’t buy the house you can afford, and instead she suggests purchasing a home about half that price. Then pay it down as quickly as possible, with a goal of owning it outright.
Don’t succumb to consumer debt. Your 30s are typically the time when you’re having children and settling into a home, which can mean a lot of spending and racking up debt. Beware of lifestyle creep, and stay focused on keeping your debts down.
Set a goal for college savings. If you want to contribute to your children’s college education, Hunt recommends beginning to save as soon as they’re born. She says a state-sponsored 529 plan is usually the best way to go.