Why Thinking About Wealth Building In Your 30s and 40s Makes Sense

Article Summary

• Retirement can feel like a long way off when you are in your 30s and 40s.
• Planning for the future during your 30s and 40s makes sense, in part because it is during these decades that big financial decisions are often made.
• As salaries increase and purchases are made, many women understand that wealth building takes intentional practice.

Why Thinking About Wealth Building In Your 30s and 40s Makes Sense

The average age for retirement in the U.S., according to data, is when someone reaches their mid-60s. That age skews slightly older for men and slightly younger for women. To someone in their 30s, and even in their 40s, that can sound like a lifetime away. 

Sometimes, that perceived gulf of time can create a false sense of comfort. 

Our 30s and 40s are just as wild as our 20s, but in different ways. Women in their 30s and 40s are managing more, finding that time is more of a premium, and learning that expenses begin to add up even as their salaries continue to increase.

Financial planning for your 30s and 40s often includes salary negotiations, large purchases like homes or vehicles, budgeting around childcare costs and purchases made with disposable income. Many of these financial decisions can have long-term impacts. 

If a woman decides to leave the workforce to oversee childcare or if a couple decides to purchase a home and take on a mortgage, those decisions now factor into their greater financial picture immediately and for years to come. Financial planning, whether we recognize it or not, is part of our everyday decision making, even if it is done informally. 

Many women in their 30s and 40s realize that even with an increasing income, wealth is not necessarily a given. Building wealth takes intention, and many women feel more confident about their financial future when they work with an experienced financial advisor to establish forward-thinking habits.

Financial Habits For Long-Term Wealth

Wealth is an individualized concept. It looks different from person to person. Planning for a specific vision is also unique. 

For some women, wealth looks like the freedom to travel and explore. For others, it is linked to passive income and real estate ownership. Some women have a desire to pay down debt, or purchase a business or shore up retirement accounts. Regardless of the vision, achieving wealth takes time. 

It is common for many women to begin thinking about their financial futures in their 30s and 40s. Many women begin their wealth-building journey at this stage of life, if they did not start down that path in their 20s. It makes sense, too.

It is in your 30s and 40s when you finally begin to experience more financial independence, when salaries improve and when many women begin to embrace more professional confidence. In fact, the average age of a successful entrepreneur is 42, an endeavor that no doubt takes considerable financial planning.

Many women have found that looking ahead during their 30s and 40s gives the financial decisions they make more time to take hold. It is also true that many women feel more comfortable making those decisions with the guidance of a professional financial advisor. We understand that desire at Svvy®, a company founded by women for women that matches women with female-vetted financial advisors. 

By “female-vetted financial advisors,” we mean Svvy’s network of financial advisors specifically understands the choices and challenges women encounter throughout their lives, both professionally and personally. They also understand how those factor into financial planning. 

If you are ready to start building wealth in your 30s or 40s, try our financial advisor matching quiz. It is available for free on our website and it allows women to connect with advisors who best align with their goals and their priorities.

To get connected with a financial expert who can help you plan for retirement, even if it feels like it is decades into the future, get matched with a Svvy® expert today. 

Disclosure: This content is provided for general educational purposes only and does not constitute individualized investment, legal, or tax advice. Svvy® acts solely as a solicitor and connects and matches individuals with independent third-party financial professionals through a quiz-based matching process on the Svvy® Network. Matching is based on information provided through Svvy’s platform and does not constitute any advice. Any advice, recommendations, and services are provided only by the independent professional you choose to engage.