On Instagram, in my monthly investing class, and in 1:1 coaching sessions, I constantly hear, “But Amanda, I’m in my 30s, it’s too late to build wealth. I’m just going to have to work until I die.”

This is one of the biggest myths we have when it comes to building wealth. 

If you’re in your 30s (or 40s or 50s even!) and reading this thinking “Yep, it’s too late for me. I’ll just ride the struggle bus into the Great Beyond,” give up that line of thinking right now. 

You can build wealth in your 30s.

You can build wealth in your 30s on any salary.

You can build the wealth necessary to retire. 

5 ways to BUILD wealth in your 30s

Let’s dive into the ways to build wealth in your 30s. 

These strategies are practical for this stage of life whether you’ve been saving for years or if you’re just starting out.

1) Spend Less Than You Make

It might sound obvious, but spend less than you make. Don’t throw things on credit cards if you can’t pay them or spend every penny that you make. You need to save some of that money for future you! Try saving at least 20% of your salary — the more you can save, the better obvi, but that’s a good goal to start.

2) Have a Budget

Have an actual budget that you actually follow. 

I’m serious.

Your budget doesn’t have to be this grandiose, complicated plan.

You do not have to neurotically track every dollar, but you must have an idea of what’s coming in and going out.

Can you imagine a business not having a budget? A free-for-all where everyone spent whatever? 😳 Don’t run your life like that either!

3) Have an Emergency Fund

An emergency fund is key - this should be in a savings account and not invested. You do not want to have to go into debt for an emergency. Talk about compounded stress!

Everyone’s emergency fund will be a little different. Depending on your life circumstances including things like: do other people depend on your income, if you lost your job tomorrow would it take you a long time to find another one with comparable compensation, do you have a lot of debt, will factor into just how much you should save in your emergency fund.

Anywhere from 3-9 months’ worth of expenses is a good rule of thumb.

4) Invest as Often and as Much as You Can

The thing we don’t get back is time. Have your money work for you by investing as much as you can on a regular basis.

Automate it so you don’t forget about it! 

Don’t have a lot of money? Invest a little or just as much as you can. Even if you think it’s pointless to invest the $5 your Nana sent you in your birthday card, do it! That little 5 dollar bill will be 50 dollars before you know it! You can get started investing in just 5 easy steps.

5) Minimize Fees and Taxes

This is an often overlooked one, but utilize the tax advantaged accounts that exist!

Understand the tax advantages of Roth IRA, 401k, HSA, etc. 

The government is giving you a break on taxes, so make sure you take advantage! 

Also make sure to invest in things with LOW fees. Anything under .25% is ideal! Having high fees can also eat into your wealth.

Does Salary Matter for Growing Wealth?

Let's address the elephant in the room: salary. 

While having a high income can certainly be helpful and accelerate your wealth-building journey, it's not the sole determining factor. 

The truth is, unless we become like Jeff Bezos-level billionaires, there’ll never be enough money. 

What truly matters is how you manage and invest your money. Someone who earns $60,000 and spends $40,000 is better off than someone who earns $200,000 and spends $195,000.

So, whether you're earning a modest income or bringing home the big bucks, living below your means, saving for the future, understanding the power of compound interest, and paying lower fees and taxes over time can all help you build wealth in your 30s and beyond. 

Wrapping Up

Remember, building wealth takes time and persistence. It’s never too late to lay a solid foundation for financial growth and pave the way to financial independence.

Your 30s can be a transformative decade for your financial future. Stay focused, celebrate milestones along the way, and never lose sight of your long-term goals.

The cool thing is, once these steps become a habit, in your 40s, 50s, and even 60s, your money will just keep growing!

If you’re convinced it’s not too late to start investing but don’t know where to start, join my free investing class party! I’ll share my own financial journey, simplify some complex investing concepts, and show you exactly how to invest in an index fund with just $1.