For most individuals, your 30s is when your career starts to take off. Your 30s is a great time to start investing if you have not started investing already. If you are just starting on your investment path, there are areas where you should start investing first.

1. Contribute to Your 401(k)

If your company offers a 401(k) plan, make sure that you are signed up for your company's 401(k) plan.

Next, find out if your company matches your contributions. For example, many companies will match what you contribute up to a certain percentage of your income. If your company matches your contributions up to 5% of your income, you should be investing at least 5% of your income into your 401(k). Failing to invest up to the company's match limit is literally reducing your own salary.

After you make sure that you are maxing out the company match limit, make sure that you are reaching the annual contribution limit for your 401(k) with the amount that you are putting into your 401(k). If you are not reaching your max annual limit, start slowly increasing the money you are putting away.

Contributing to your company's 401(k) will also reduce your taxable income and thus tax liability.

2. Start an IRA

Second, you should open up an IRA. An IRA is a retirement account that you fund with after-tax money. Since the money you invest in your IRA has already been taxed, any money that you make from your IRA is not taxed when you tap into your retirement. You can only contribute $5,500 to an IRA in your 30s. It makes sense to invest in an IRA because the money you make will not be taxed during your retirement years.

3. Open a Standard Brokerage Account

Third, you don't have to invest all of your money into a retirement account. Retirement account money cannot be accessed until you retire without incurring early withdrawal penalties. Money that you earn from a standard brokerage account can be accessed before your 60s.  

4. Build Up a Savings Account

If you have not already, you need to build up a savings account. It is great to have money invested for your future, but it is also important to have access to money that you can use right now. That is why a savings account is so important. A savings account is money that you can access right now. Your savings account, ideally, should contain enough money to support you for a year. That way, if you ever lose your job or have to take time off work, you have some room to work with.

If you didn't start saving in your 20s, don't wait another decade to start savings. Invest in your company's 401(k) plan and make sure that you are meeting your 401(k) limit. Start an IRA for a source of tax-free money in your retirement years. Open up a standard brokerage account to make money that you can access over the next few decades and always make sure that you have a healthy savings account you can fall back on. 

For more information, contact your preferred financial planner.

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