If you survived your twenties with money in the bank, congratulations! You are well on your way to financial success. For many people, the thirties is a time that they begin to climb the ladder of success in their careers…which can mean that their incomes rise as well. While it may be tempting to “up” your lifestyle to match your new income, think about your long-term goals. Do you want to live debt free? Do you want to retire at an early age? Even if you didn’t put much money aside in your twenties, you still have plenty of time in your thirties – but not for too much longer. So start investing now to plan for the future. Freedom Debt Relief reviews its favorite ways that thirty-somethings can invest.

  1. Contribute to a 401K

If you put this off in your twenties, now is the time to start. Many employers match up to a certain percentage and you should take advantage of this. It is free money that you get every year, and over time it could add up significantly. Also, contribute as much as you can each year – the maximum amount allowed annually is $18,000. The amount you choose will be withdrawn from your paycheck (pre-tax) so you won’t even miss it.

Freedom Debt Relief reviews of various 401K savings plans show that a person who earns $50,000 and starts contributing to their 401K at age 30 could potentially save over $1 million by the age of 67 when they contribute 10 percent of their earnings and receive another three percent from their employer each year.

  1.  Open a Roth IRA

Another favorite investment strategy that came out of the Freedom Debt Relief reviews is the idea of supplementing your 401K with a Roth IRA. The benefit of a Roth IRA is that money that goes into it go in after taxes, so you don’t have to pay tax on the money when you retire. Plus, your money grows tax-free. You will have to pay taxes on your 401K when you withdraw funds, so the Roth IRA provides you with a little “tax diversification”.

Right now, you can contribute up to $5,500 in your Roth IRA annually. If you start putting money in your Roth IRA at age 30 and earn an average rate of six percent annually, you will have around $740,000 in tax-free money by the time you reach the age of 67.

  1. Don’t Be Afraid to Take a Few Risks

When you are close to reaching the age of retirement, you must be careful with how much of your money is tied up in risky investments because you may not have the time left to recoup losses from a down market. However, when you are young and retirement is way down the road, you can afford to invest in more risky investments that could lead to bigger returns. Freedom Debt Relief reviews show that thirty-somethings could increase the chance of higher returns on their long-term savings by investing 70 to 80 percent of it in stocks and stock mutual funds.

So, if your stomach can handle the ups and downs of the market, go for a few riskier investments. Remember, this is a long-term strategy and over time, your chance of a higher return could become a reality.

  1. Remember Your Other Savings Goals

While long-term savings and retirement are important and should be a top priority, as you go through life, there will be other goals – a down payment on a house, college for your kids, or even a well-deserved vacation. You can save and invest for these goals as well.

However, since retirement savings comes first, will you have enough money to invest in your other goals? If you find yourself coming up short, look for some ways to redirect your money. Pay off your vehicle and keep driving it rather than trading it in for a new model (and a new monthly bill).  Eliminate your old student loan debt from college, or pay off your credit cards and put that money towards your other investment goals.

If you are struggling to meet these monthly payments, consider working with a debt resolution company. Freedom Debt Relief reviews have shown that many people are now living debt-free and happy after tackling their burdensome credit card debt. Freedom Debt Relief has enrolled over 400,000 customers and resolved more than $7 billion in debt, and we could help you too. Contact us online to learn more.