Darcy Bergen Shares Five Practical Money Moves To Make In Your Thirties To Set You Up For Retirement

Darcy Bergen

December 7, 2020

Darcy Bergen’s Tips For Steps Professionals In Their Thirties Can Take To Maximize The Likelihood Of A Happy Retirement

When you’re in your thirties, it can be tough to think about retirement, but it’s vital that you do so, according to finance expert Darcy Bergen. Check out Darcy Bergen’s five top money moves to make in your thirties to help you prepare for your golden years, even though they may seem far away. 

1. Pay off credit cards ASAP. Credit card debt* can eat away at funds you could be investing in your retirement. Darcy Bergen recommends knowing your financial personality and deciding what style of debt management makes the most sense for you. While it may be more lucrative to pay off credit cards with the highest balances first, it can be more motivating to pay off the lowest balances first. Getting rid of credit card debt quickly is a smart way to boost the amount of money you can contribute to your retirement account, according to Darcy Bergen. 
2. Consider life insurance. Life insurance isn’t a necessity for everyone, but if you are the main wage earner in your household, it may make sense for your family. Protecting your family with life insurance** can help you to still have money for your retirement if your sole breadwinner passes away unexpectedly, according to Darcy Bergen. 
3. Strategize – then take a risk. Your thirties are a key time to take risks in your career, and Darcy Bergen recommends strategizing first. Whether this means starting a side business, leveraging your experience for a promotion***, or getting the education you need to move ahead, taking strategic risks now can pay off hugely when it’s time for retirement, says Darcy Bergen. 
4. Darcy Bergen recommends using matching retirement contributions**** to your advantage. This one is simple: Darcy Bergen recommends maximizing your retirement contributions to the point that your company will match. Doing so is “free money”, and giving less than the maximum is throwing away money that could be yours. If you aren’t already taking advantage of your company’s matching retirement funds option, reach out to human resources as soon as possible to change your contribution. 
5. Don’t forget about 401k plans. Many people in their twenties forget about 401k plans when they leave a job. In today’s fast paced economic climate, people are changing jobs and careers more than ever before, and it’s key to ensure that your retirement money follows you as you move around. Whether you choose to roll your old 401k into your new company’s 401k program, or you choose to roll your 401k into an IRA, be sure that you don’t just leave the money sitting with your old company.