By Riki Unrau

So you’re in your 30s. You’ve crossed that fine line between reckless youth and responsible adulthood. Maybe you spent your 30th birthday sitting in a closet with a bottle of wine questioning when it was you became an adult. I certainly didn’t do that… Anyway, regardless of how you ushered in the day it is time to turn your efforts into building that wealth and saving for those rainy days.

Here are some ideas on how you can get started.

Retirement is not that far away

True, it may be about 30 more years until you retire but, now that you have an idea of how quickly time passes, you shouldn’t be too surprised to see it fly. Hopefully you are making more than you did in your 20s, which is why now is the time to start saving if you haven’t already. Depending on your financial situation, opening either an RRSP or a TFSA is an excellent way to begin. You can contribute however much you’d like each month. A great rule of thumb is that 15% of your paycheque should go into savings. If you do this, you’ll be laughing when it comes time to retire to the good life.

Choose your financial planner

Financial Planners are excellent tools that are available to help you get on track and motivate you to stay there. They can advise you what kinds of investment approaches will be most beneficial to you and they will help to make sure you and your family are covered in the event of unfortunate circumstances. The right Financial Planner will be your lifetime partner so make sure you meet with a few so that you can find your ideal fit.

Focus on those debts

Almost everyone has it but not enough people prioritize paying it off. Don’t get me wrong, utilizing credit is paramount for maintaining a good credit history. But carrying those large balances and paying minimum payments each month can quickly sink your finances. Be careful not to allow credit cards to support your lifestyle. It always feels better to spend your own money rather than money that you will have to pay back. If budgeting is your issue then your Financial Planner can help get you on track.

Make a will and get life insurance

You still may feel invincible and that is okay but the fact of the matter is that you are not. You also may have more lives to be responsible for now that you’re more mature so the best thing you can do for those loved ones is to have a will and make sure you have life insurance. A will can simplify a very difficult process and make it easier on the loved ones you leave behind. While life insurance can provide them with the financial support they might desperately need especially if you are the main breadwinner.

Getting older is simply a part of life. How well you plan for that life is up to you but there are many tools at your disposal to help you prepare. You have many years to look forward to so why not try to make them as enjoyable and stress free as you can?

– Riki Unrau is a Mortgage Broker with Invis Williams and Associates, located at 828C Baker Street, Cranbrook, BC V1C 1A2 – 250-919-6402. For more try: www.facebook.com/rikiunraumortgages

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