How to Manage Your Money In Your 20s, 30s, and 40s

Here are practical tips to help you for 3 decades

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How to Manage Your Money In Your 20s, 30s, and 40s

In Your 40s

Make retirement savings your main goal. In this decade, even though your kids are nearing college age, Hunt warns against prioritizing saving for their education over your retirement goals. 

Adjust college savings. Now’s the time to check tuition costs and make sure your savings are on track for your children’s college. You may need to adjust those savings or have a conversation with your kids about how much you can afford to help and which schools are realistic for them to attend, she says.

Invest in an index fund portfolio. If you have savings beyond what you need to cover emergencies, Hunt recommends you aggressively build an index fund portfolio at a company like Vanguard or Fidelity. She says your best bet is to set up an automatic purchase plan that steadily adds more shares to your account, and then forget about it. 

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Article printed from InvestorPlace Media, http://investorplace.com/2014/03/best-way-manage-money-20s-30s-40s/.

©2014 InvestorPlace Media, LLC

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