No savings at 30? Do this to catch up!
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If you have no savings at 30, the good news is, you’re actually not as far behind financially as you might think. At the age of 30, most expert recommendations online suggest having one times your annual income saved, which for the average earner is about $50,000. But that is just what is recommended, not what 30 year olds actually have. The actual median net worth of a 30 year old is much less, sitting around $14,000.

If you are in your 30s and have a net worth of $0, don’t worry, it is far from being too late to catch up. You are relatively young, and you still have the majority of your working years ahead of you still. So even if right now you have a few thousand dollars less than the average person your age, you have plenty of time to catch up.

To catch up you need to earn how to budget. Next you need to reduce your expense, so that you can start saving money fast. You also need to learn how to make more money, to further increase your savings. The last step is learning how to invest. I talk about index funds for beginners and how to invest in a Roth IRA. Follow these 4 steps to retire early and achieve financial independence.

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DISCLAIMER: Some of the links on this page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Affiliate commissions help fund videos like this one.

Everything in this video is of my own opinion and could be wrong. I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.