1. Retirement Planning For 30-Somethings: Introduction
  2. Retirement Planning For 30-Somethings: Check Your Progress
  3. Retirement Planning For 30-Somethings: Enhance Your Budget
  4. Retirement Planning For 30-Somethings: Increasing Your Savings Rate
  5. Retirement Planning For 30-Somethings: Reducing Savings
  6. Retirement Planning For 30-Somethings: Managing Life Changes
  7. Retirement Planning For 30-Somethings: Managing Your Credit Score
  8. Retirement Planning For 30-Somethings: Managing Your Investments
  9. Retirement Planning For 30-Somethings: Avoiding Withdrawals
  10. Retirement Planning For 30-Somethings: Deposits And Loans
  11. Retirement Planning For 30-Somethings: Retirement Resources
  12. Retirement Planning For 30-Somethings: Conclusion

At this stage, you should already have a budget in place. If you don't, one should be designed to help ensure efficient management of your income and expenses. If you do have a budget in place, consider enhancing it to accommodate your changing financial profile. The following are some recommendations:

  • Revise or develop your balance sheet so as to clearly identify your assets, debts and other liabilities, and your net worth. This will also help you to determine how much you have saved for retirement, whether your emergency fund is sufficient and if you are overextended in debt.
  • Meet with your interested parties and individuals who contribute to the decision-making processes that affect your finances, and discuss your financial goals and objectives. These interested parties include your spouse, individuals who might help to cover expenses, and your financial advisor.
  • Determine when and how your revised budget will be implemented. Creating a budget is only helpful if it is implemented.
It may be necessary to revisit and reevaluate your new budget, so as to determine the impact of any changes that were made. If the new budget is not working effectively, improvements can be made. A revision of your budget can also help to identity opportunities for adding more to your retirement nest egg, and an opportunity to increase the efficiency with which you allocate and spend your disposable income.


Retirement Planning For 30-Somethings: Increasing Your Savings Rate
Related Articles
  1. Trading

    Top 5 Budgeting Questions Answered

    You don't need a degree to understand your money, begin saving and pay down debt.
  2. Personal Finance

    How to Create a Budget You Can Actually Stick With

    Following these five steps can help you create a budget that you can stick with.
  3. Personal Finance

    How to Create a Budget You Can Stick With

    Following a budget can be difficult. But it’s usually the difference between living a stressful retirement versus the retirement of your dreams.
  4. Personal Finance

    This Is the Year to Start Budgeting

    Whether your issue is credit card debt, student loans (or the fact that Social Security isn't rising next year), it's time to learn how to build a budget.
  5. Personal Finance

    4 Easy Techniques for Budgeting Money

    Budgeting money is critical for everyone, but to be successful at creating and sticking to a plan, it’s helpful to have some tricks up your sleeve.
  6. Personal Finance

    6 Reasons Why You NEED A Budget

    By now, you're probably sick of hearing the b word. Too bad. This is just of those financial lessons that cannot be preached enough.
  7. Personal Finance

    5 Ways To Make Budgeting Fun

    These easy tips can help make financial planning a breeze.
Frequently Asked Questions
  1. When are Beneficiaries of a Will Notified?

    Learn when the beneficiaries of a will must be notified, and understand how this requirement varies depending on whether ...
  2. Why Does Larry Page Pay Himself a $1 Salary?

    Google co-founder Larry Page continues to take an annual salary of only $1 as chief executive officer.
  3. What is Common Stock and Preferred Stock?

    Learn about the differences between common and preferred shares. Explore situations where preferred shares have more favorable ...
  4. Can CareCredit be Used for Family Members?

    Learn more about the available options that CareCredit offers to pay for out-of-pocket medical procedures with little to ...
Trading Center