A Smart Investing Plan for 30-Somethings

You’re in your 30s, which means your finances are starting to get serious. You may have larger expenses than ever before, such as a new home, a new car and possibly a new bundle of joy. Hopefully your salary has also grown along with your responsibilities. If you haven’t gotten your finances in order, now’s the time to buckle down. Here’s how to plan and invest for what may lie ahead, courtesy of U.S. News Smarter Investor bloggers.

Consider your interests, hobbies and travel dreams as you envision your retirement, writes Jacob Gold, financial advisor and president of Jacob Gold & Associates Inc. “Once you’ve thought about how you want to spend your time in retirement, it’s important to make a plan on how to accomplish these goals. Put something down on paper and take advantage of planning resources available through your employer or retirement plan provider,” he writes.

Once you have a plan, make your savings automatic, Gold advises. “Allocate a certain percentage or dollar amount of your salary to be automatically taken out of your paycheck or checking account and invested in a retirement savings account. This makes the process painless and easy,” he writes. “You adjust to your new budget, and have the assurance that you are taking care of your retirement readiness.” Here’s how to test your 401(k) IQ.