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Best Financial Advice for Entering Your 30s (Are You Behind?) financial advice

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Best Financial Advice for Entering Your 30s (Are You Behind?)
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46 comments

marlen garcia 28/09/2021 - 4:14 Chiều

Im 30, have 3 kids, don’t have debt other than out home and working hard to get that taken care of. Managing to save but definitely feel like I need to do more than just save. It’s really listening to this.

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Greg Marquardt 28/09/2021 - 4:14 Chiều

Love the show! It’s been the perfect transition from my much needed Dave Ramsey money makeover during some financial turbulence into something that made more sense for someone that doesn’t struggle with self control and wants to know how to set my future self up for success.

My biggest question / concern is… the “Net Worth By Age” metrics are great… they give a good baseline of how I’m doing and where I need to be HOWEVER when you have a pretty fixed income, have trimmed down your cost of living and are saving/investing 30-35% of your income BUT are still behind the power curve a little… what can you do??

It’s very frustrating knowing your maximizing your savings the best you can but still aren’t meeting the benchmarks using the wealth formula.

Thanks for all the content! Love it!

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Michael Eibey 28/09/2021 - 4:14 Chiều

31 years old, married with 168k in my 401k, owe 275k on our house.
Wife has 20k in her roth ira.
Currently maxing out my roth 401k, wife is now maxing out her roth ira.
Debating getting out of the fsa at work and move towards an hsa.

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Eric Munroe 28/09/2021 - 4:14 Chiều

Fairly new to financial advice YouTube channels… But these guys said to stop comparing yourself to others in an earlier video, now literally EVERY video is clickbait (are you behind?@?@) where should you be by age whatever. Real annoying.

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anthony b 28/09/2021 - 4:14 Chiều

Preston takes creatine powder while researching index funds.

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Raul Abarca 28/09/2021 - 4:14 Chiều

I'm 29 turning 30 in a couple months, and I am completely lost. I wasted my 20's by not saving at all. I don't know where to start. I didn't grow up with much so I was never taught how to manage personal finances and whatnot. It sucks. I feel like I'm so far behind. There's so many different people preaching so many different things, I'm confused and have no idea where to start.

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snydyspam 671 28/09/2021 - 4:14 Chiều

Hey, I'm not the only one who did that chemical burn! Great minds have similar circumstances!!!!

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Drew C 28/09/2021 - 4:14 Chiều

Money Guys, I really feel like you side stepped the child care question at the beginning of your discussion. Acknowledge date night is important, and that’s an easy question to answer. Feel like the tougher one to talk though is how much child care costs for working families. Most often more than the mortgage on a home (my case actually). How do you realistically save for the future or think about your budget. Increasing the income statement that much is asking a lot

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Tyler Wise 28/09/2021 - 4:14 Chiều

Not 30 yet but figured since I would be one day might as well try to meet these “requirements” early.

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Stephen Smith 28/09/2021 - 4:14 Chiều

I burned my eye 25 years ago in the exact same way! I can't believe this is still happening. That bottle should not be the same size and shape as saline solution! And before someone points out the visual differences, keep in mind that we cannot see without our contacts.

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Niv Ronnoc 28/09/2021 - 4:14 Chiều

So, why was the formula at 30 not just /10 and the one at 39 not just age*income? Lol

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ConstructoJay 28/09/2021 - 4:14 Chiều

It took me until 34 to learn how to save and invest. I'm way behind, but still working my way to early retirement. 36 now, aiming for 5-10 years.

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Jeff B. 28/09/2021 - 4:14 Chiều

35. Putting in 9% of my salary (since 23) in my government pension, have about 6k in a 457b (contributing 3500 a year now towards it), and 6k in a roth that I opened this year (plan on maxing it out until retirement).

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Will Davids 28/09/2021 - 4:14 Chiều

Like the Batman and Robin(Preston/Bo) duo it works well. This gal is super annoying it’s like listening to your kid sister yapping about young people stuff.

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A W 28/09/2021 - 4:14 Chiều

Me as a 37 year old "I'm in trouble"

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Jordan Bergman 28/09/2021 - 4:14 Chiều

Great advice. I turned 31 this year and have three kids. The messy middle is no joke! Also, I want to thank you guys for your transparency and honesty in a profession that can often be anything but that. I'm a CPA working on adding financial planning to our tax practice. I plan on obtaining my CPA/PFS and eventually CFP once I have accumulated enough experience.

Keep up the fantastic work!

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Dani Izzy 28/09/2021 - 4:14 Chiều

Just turned 30 this year. Definitely still working on my career goals, financial goals, retirement goals and student loans. I wouldnt put having a family before any of those goals. My bf feels the same. We want to be financially free by 40.

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KleissBunny 28/09/2021 - 4:14 Chiều

30 tomorrow. I would like to thank TMGS for getting me on track a few years ago and got me aggressively tracking down some goals. Thanks y'all

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Denys Percheklii 28/09/2021 - 4:14 Chiều

Found this show couple of months ago after turning 30. Active listener now. Thanks for creating such a valuable content. Even though you guys are base in US, all the things you are saying are easily applicable in Poland

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Mickey Pigknuckles 28/09/2021 - 4:14 Chiều

When you say something along the lines of, “Save X times your salary by age Y,” but your salary has increased from $60k to $120k between ages 25 and 30, what are you really aiming for?

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J 28/09/2021 - 4:14 Chiều

I love this content so much. You blokes are awesome.

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W. Logan Caldwell 28/09/2021 - 4:14 Chiều

Turned 30 in March. Married with 3 kids. Completely debt free including home and cars. I'm excited to tackle this decade!

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Joanna Dion 28/09/2021 - 4:14 Chiều

Love the conversation about how to compare 401K plans! Those are also great guidelines as you consider multiple job offers. I would add: compare the employer contribution vesting schedule, especially if you work in a very tumultuous industry or you think your best bet for advancement is changing employers every few years.

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Lisandra Saumel Diaz 28/09/2021 - 4:14 Chiều

Love when Reeve joins Bo. Great advice

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butfirstcoffee 28/09/2021 - 4:14 Chiều

So relatable!! After having my first kid this year, I’m like, yep, yep, ✔️, that’s me

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Coolio 28/09/2021 - 4:14 Chiều

Napa, CA Housing Prices Crater 17% YOY As Sustained Crushing Housing Losses Blanket California

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Senior Housing Analyst 28/09/2021 - 4:14 Chiều

Best advice? Don't saddle yourself with a rapidly depreciating asset like a house.

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Matthew Ryan 28/09/2021 - 4:14 Chiều

1:55 Dont try to be busy because busy will find you
5:03 Things you think are a big deal aren't – but you won't realise it at the time 6:50 Big deal 1, 7:44 Big deal 2, 8:35 Big deal 3
10:45 Put in the hard work early. It will pay off 14:05 the numbers
17:00 Shazam
Q&A
19:39 Childcare costs
25:00 Planning family and not returning to work full-time
28:44 Buying and financing a new car
32:48 Do rich people get access to investments that other people don't
37:35 Best way to pay yourself from a small business
43:42 How much to put in each bucket
50:05 Reactions to Vanguard report
56:00 Buying a house and going back to school
1:01:55 Career change and pay cut – how to deal with the fear
1:09:14 Which 401k account to max out with multiple employers
1:14:00 Planning on lower income in retirement; should all extra savings now go into Roth or something else

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Mike 28/09/2021 - 4:14 Chiều

A almost sure way to having some degree of success in your 30s is to not settle down with a family and large mortgage payment. Focus on your career while everyone else is focusing on growing a family. I plan on having a kid in my 30s and her name will be Porsche…. Bonus points if you can actually find a female who shares the same goals.

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Instructions Unclear 28/09/2021 - 4:14 Chiều

Am 30. Make 90k only have 60k saved. Going to get a job that makes 60k so I am on track with guidelines!

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Greg FI 28/09/2021 - 4:14 Chiều

At 29, according to the formula, my net worth should be about 94K. It's currently about 150K. Woo! I've been watching for the past 4 years or so. LOVE THE SHOW!

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Applauseify 28/09/2021 - 4:14 Chiều

i m 35. i m behind with no 401k. but saving grace no debt or only 4k that can be paid off..no home . have my own car. no land/property or any other assets. currently trying to build up emergency savings. once it is done will move to 401k and creating financial goals

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Ankit Singh 28/09/2021 - 4:14 Chiều

Can anyone point me to where I can buy the wooden stand in the background they use for subscriber count? Not sure what the product category is.

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Hitesh Dhimmar 28/09/2021 - 4:14 Chiều

Dear Money Guy show team. Where can I submit question about my finances.

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Ben K 28/09/2021 - 4:14 Chiều

Oh man, ran the numbers, right on track!

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Cam Cook 28/09/2021 - 4:14 Chiều

Shoutout to the 1991 kids

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Yomahira Ash 28/09/2021 - 4:14 Chiều

Would love to see an episode on what your retirement/savings should look like if you have a spouse that is not working. I’m a stay-at-home mom but do plan to return to work when the kids are old enough to go to school. However right now we’re a one income household

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Jack Jia 28/09/2021 - 4:14 Chiều

what is that number in the back?

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Martin Thomsen 28/09/2021 - 4:14 Chiều

The 1x your income is that before or after tax? and does this include 401K´s Personal savings etc?

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Bryan Rathman 28/09/2021 - 4:14 Chiều

I would love to leave accounting and go into personal finance. I feel I could teach personal finance all day long I would. There would be the initial drop income though which has scared me from doing this.

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Personal Finance With Sid 28/09/2021 - 4:14 Chiều

Turned 31 this year. Thanks so much guys for the content! Always enjoy your videos.

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Zyth 28/09/2021 - 4:14 Chiều

In the year i turned 31 i bought my first home with my girlfriend, got engaged, got a kid, got a new job, reserved our next apartment, lost my hair, lost my soul.

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Qaashuntae Wright 28/09/2021 - 4:14 Chiều

I contribute to my TSP, but I do not get employer match; however, my entire TSP is in a Roth IRA. I have maxed it out and have the left over $100 going to another Roth IRA account. I'm I allowed to have two different Roth accounts if one is a TSP and I adhere to limited.
I plan to increase gross income saving to 30%, once I pay my new car off at the 12 month mark (march).

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Austin Gonzalez 28/09/2021 - 4:14 Chiều

How are you supposed to know what is worth pouring your time into v. the things that don't matter. In this show it's recognized that the things you think are important don't always end up being so, but if we pour ourselves into the things we think are important… Then how are we supposed to know?

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Dave W 28/09/2021 - 4:14 Chiều

I’ve done the cleaner solution also – used my sisters solution when I ran out of my saline, so it soaked my lenses overnight in that stuff!! OUCH!!!!!!!!

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Kimble Hopkins 28/09/2021 - 4:14 Chiều

I turning 31 this year. Selling my first house and starting fresh. Thank you for this!

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