Your future planning starts when you start dreaming about an exciting future full of resources and comforts. Do you know that only dreaming is not sufficient for making your future well planned? Ask yourself, how much should I have in savings at 30?

For that, you need to work on your savings so that you can store enough money in your retirement account. This will allow you to spend as you want even when you are not working in your old age.

If you are looking for a savings guide that can enlighten you on how much you need to save at 30 then you are at the right place. So, without delay let’s start planning.

Is It OK To Have No Savings At 30?

Let’s start this guide with the most basic question. Do you really need to save at 30? That can sound strange because at this age you are still young. You may also feel like there is a lot on your plate.

So at first, it might seem blah but when you think about it in detail. It is then you will realize that savings are much needed. Why? Because this is the age when you are young and can save as much as you want. You can plan your future according to how much you need to save for a safe retirement.

This offers one more benefit in that the earlier you start the less you need to worry about your retirement. When you start saving at an early age the burden on upcoming years reduces and you can follow a pattern in your savings.

Now you can see clearly that if you haven’t started saving at your age of 30 then after some years you need to worry about your retirement and at that time you don’t have much time to start saving.

Therefore, you need to utilize your time when it comes to savings.

How Much Has the Average 30 Years Old Saved?

Assuming that in your 20s, not because of your expenditure but because of your low salary level you can’t save much, start saving at your age of 30 is a good option. If because of low salary you can’t save more then you should fix a goal that you need to complete before 30.

So, when you reach 30 you would like to start working towards your milestones of saving. According to a 2019 study by the Federal Reserve, on average a 30-year-old has saved $13,000 in retirement and savings accounts. On average by 30 years old, you can save up to $45, 000 which is not hard if a proper strategy is followed.

This saving assumption is based on the average salary level that a US resident can earn. This can change from individual to individual and organization to organization. But if you are close to it then you can rest assured you have saved enough for your retirement, but you don’t need to stop here.

Continue with more milestones and set more goals that you need to achieve in your 35, 40, or 50.

Tips To Save More Money at Age 30

Now if impressed by the benefits of savings at 30 and want to start your savings at the earliest below are some of the tips that are worth trying.

1.      Prioritize Your Emergency Savings fund

The emergency savings fund is very important. This generally holds an amount equal to three to six months of expenses from the financial security perspective. This fund even becomes more crucial when at your 30 because of buying a house and family planning.

2.      Contribute To Both A 401(k) And A Roth IRA

If you are secured under the 401(k) in which your employer offers a retirement plan with matching contributions, then you need to make sure that you are contributing at least enough annually to get the full company 401(k) match.

Even if in the starting years you are not contributing much then you can catch up in later years. You can also contribute to the IRA which is Individual Retirement Account. By contributing to both accounts you are ensuring double security for your future.

3.      Treat Paying Off High–Interest Debt as An Investment

One of the major dilemmas one faces is whether to invest for the future or repay debts. Both have their own significance and both are important to savings at 30. To check which option would be more beneficial compare both.

Check what you are paying as in interest on your debt and what you can expect to earn by investing. By comparing both you can clearly see what will be good for you.

4.      Save For Your Retirement Before Your Kids’ Education

Generally, every parent wants to secure their kid’s future first. But when it comes to mindful retirement planning you need to think about it without being sentimental.

There are many ways in which your kids can fund their education without your financial support. You need to secure your retirement funds first as you have limited options here. And once your retirement investing plan is on track you can save for your kid’s education too.

5.      Save More as You Earn More

Make your investment plan grow as your salary increases. In your 20s it might be possible that you are not getting much pay and your investment rate is low.

But as soon as you are getting pay raises don’t forget to increase your investment rate and save more. Here it becomes important to make a balance between your salary, expenses, and savings for retirement investment plans.

How Much Should I Have Saved for Retirement By 30?

As soon as your career gets started and you are getting the income you need to start saving for your retirement. Although in your 20s you have to pay your student loans and there are so many expenses to do with comparatively low income, saving is a daunting task.

But don’t forget it is the time when you can make your future better, you have to start saving now or never. Start with signing up for 401(k) in your 20s and set milestones for your 30, 40, or 50 which you can achieve.

You can also make a pattern for your investment at age 30. It should be one-fold to your annual income and as your age increases the investment will also increase three folds in 40, and fourfold in 50. This can adjust in accordance with your salary, expenses, and investment plan.

But what you need to do is to get started with your savings as early as you can so that it’s never late for your tension-free retirement.

Key Takeaways

There can be a plethora of tips on how to save at age 30 or how to choose the perfect retirement investment plan or how to make your future safe and secure. But what you need to keep in mind is that the key to a secure future is to work on your lifestyle. This is a core value of the CentShifter.

Age 30 is the time when you have many dreams, passions to follow, and expenses to make. Please don’t make your retirement investment plan secondary. First, secure your retirement funds and then you can do whatever you want to do without having the tension of your future.


1.      How much in my 401k should I have at 30?

As per the recommendations of the experts in the field, at 30 an individual should have saved an amount equal to the annual salary. For example, if your annual salary is $40, 000 at 30 then you have to save this amount in 401k.

2.      How many savings should I have at 30?

There is a formula by which you can determine how much you need to save according to your age. Save in proportion to your age, such as if you are at age 30 then you should save at least 30% of your total annual income.

3.      What should net worth be at 30?

Your net worth at 30 can consist of savings and investments. At this age, your goal should be a net worth amount equal to half of the salary in the retirement account.