We all have financial aspirations, and one way to work towards them is by establishing goals. As without setting a goal, one will not be able to set a path towards achievement. If you are in your 30's and whether you are earning well or not, you need to set a financial goal and strive towards acquiring it. And by this age, you are most likely earning a high salary and working towards your future, and you may also be dealing with some life changes. Securing your finances becomes very important during this age. Here are some financial set of goals that you should be working towards in your thirties. Although, you may need some guidance from a Financial Planner Draper UT, who will help achieve your set goals.
Max Out Your Retirement Contribution- One of the most important things that you should focus on is maxing out your retirement contributions. It is an important goal that you should be striving towards in your thirties. Financial planners are of the view that ideally, 15% of your income should go towards your retirement savings.
Make Sure That You Are Debt Free- If you have any debts, try to get out of them, whether it is a credit card, student loans, or others. Make sure that you are living debt-free, which means that you should not owe any money. A mortgage is the only exception, other than that, make sure that you do not have any debt.
Ensure That You Are Living Within Your Means- Living within your means implies spending what you have today and not what you will have tomorrow or what you think that you can afford. Expert financial planners suggest operating like you're on a cash system even if you use a credit card, so you do not end up purchasing what you can't afford.
Strive To Maintain A Good Credit- Having good credit will let you borrow at a lower interest rate, so focus on maintaining good credit. It will enable you to acquire a mortgage at a lower interest rate, which will save you a good amount of money in the long run. You can also use your credit and enjoy the benefit of the reward program.
Emergency Fund- Life is uncertain, and a lot can happen or change. Therefore, you need an emergency fund that should be able to cover your fixed expenses for at least six months. Like we've seen in the present pandemic, we should be prepared for any uncertainties and changes that can happen.
Get The Help Of A Financial Planner- A professional financial planner can help you with all these areas in your life and will work with you to establish specific financial goals for you and your family. They will also guide and help you until you reach your financial set goal. With their assistance, you can see your financial dream come true. 483
Also, focus on cutting down on your unnecessary expenses and then gradually work towards reaching your financial goal. Having a Certified Financial Planner Draper UT on your side will be beneficial.
