Ages 30-39

Your 30s Financial Planning Checklist

Your 30s are about building wealth while managing major life milestones. From buying a home to starting a family, these financial priorities help you grow assets and protect what matters most.

Peak
Earning Years Begin
15%+
Save for Retirement
529
College Savings Plan
20x
Income Life Insurance
View Complete Checklist

Your Complete Financial Checklist

Navigate major life milestones while building lasting wealth in your 30s

1. Plan for Homeownership

Buying a home is often the biggest financial decision of your 30s. Plan carefully to avoid becoming house-poor while building long-term equity.

Action Steps:

  • Save 20% down payment to avoid PMI (typically $40K-$100K)
  • Keep housing costs under 28% of gross income (28/36 rule)
  • Get pre-approved and compare mortgage rates from 3+ lenders
  • Budget for maintenance (1-2% of home value annually)

2. Get Adequate Life Insurance

With a family depending on your income, life insurance isn't optional—it's essential. Term life insurance is affordable and provides crucial protection.

Action Steps:

  • Get 10-20x your annual income in term life coverage
  • Choose 20-30 year term to cover until kids are independent
  • Both spouses should have coverage (stay-at-home parents too!)
  • Add disability insurance to protect income if you can't work

3. Start College Savings (529 Plans)

College costs rise 6% annually. Starting early with a 529 plan gives you 15-18 years of tax-free growth to help your kids graduate debt-free.

Action Steps:

  • Open a 529 plan (tax-free growth for education expenses)
  • Start with $100-300/month per child (grows to $40K-$100K)
  • Choose age-based portfolios that auto-adjust risk over time
  • Remember: Retirement first, then college (kids can get loans, you can't)

4. Maximize Retirement Contributions

Your 30s are prime wealth-building years. Every dollar you save now has 30+ years to compound. Aim to save 15-20% of your income for retirement.

Action Steps:

  • Max out 401(k) match, then max Roth IRA ($7,000/year)
  • Increase contributions 1% each year (aim for 15-20% total)
  • Diversify with 80-90% stocks while you have time to recover from dips
  • Rebalance portfolio annually to maintain target allocation

5. Create Essential Estate Planning Documents

With young children, estate planning becomes critical. Designate guardians, create a will, and establish powers of attorney to protect your family.

Action Steps:

  • Draft a will and name guardians for minor children
  • Establish healthcare power of attorney and living will
  • Update beneficiaries on all accounts (401k, IRA, life insurance)
  • Consider revocable living trust if estate exceeds $1M

6. Boost Your Career and Income

Your 30s are peak years for career advancement. Strategic moves now can double or triple your lifetime earnings potential.

Action Steps:

  • Negotiate salary aggressively (women: close that pay gap!)
  • Develop high-income skills through certifications or advanced degrees
  • Build professional network (80% of jobs come from connections)
  • Consider side hustles or passive income streams

7. Aggressively Pay Down High-Interest Debt

Carrying credit card debt in your 30s is wealth sabotage. Eliminate high-interest debt before it derails your financial goals.

Action Steps:

  • Pay off all credit cards (20%+ interest is killing your wealth)
  • Consider refinancing student loans if rate is above 5%
  • Avoid new car loans—buy 2-3 year old vehicles with cash if possible
  • Keep total debt payments (except mortgage) under 20% of income

8. Track Net Worth and Set Wealth Goals

Your net worth should grow substantially in your 30s. Track it quarterly and aim to reach 2-3x your annual income by age 40.

Action Steps:

  • Calculate net worth quarterly (assets minus debts)
  • Target net worth: 1x salary by 30, 2x by 35, 3x by 40
  • Review and optimize investment fees (every 0.5% matters over 30 years)
  • Meet with financial advisor annually to stay on track

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