Building wealth: strategies for when you’re in your 30s


This guide outlines several tactics and side hustle strategies you can use in your 30s for building wealth and adding to your income streams.

As a woman in your 30s, you may think that time is running out on building wealth and being financially secure if you aren’t a millionaire by now. This antiquated way of thinking is no longer the case.

Many people are starting to build wealth now that they feel more financially secure in their 30s. It’s not uncommon to see people starting or increasing their retirement contributions, working a side hustle, or making long-term wealth-building investments.

Strategies for building wealth in your 30s

Read on to learn about the ways people in their 30s are able to start building wealth and look ahead to a brighter financial future.

Start Contributing or Increase Your Contributions to Your 401k

One of the simplest ways for building wealth in your 30s is to start a 401k retirement plan or increase your contributions if you already have one. Many employers offer 401k matching. If this is the case, be sure to contribute at least what your employer matches.

If you don’t already have a 401k, you should get one. A 401k retirement plan helps you save money and build wealth over time in order to retire at a certain age. Most employer plans allow you to contribute money pre-tax as to not put too much of a strain on your finances.

Find a side hustle for building wealth

Starting a side hustle is a great way for building wealth in your 30s. This is especially true if you are creating a side hustle in order to save everything you make from it. Side jobs can range from selling handmade items to delivering food and groceries from local stores.

Side jobs are quite common and the idea of having one has been around for decades, centuries maybe. There are tons of websites and apps that serve as a way to make extra money doing odd jobs or selling items. Let’s find out about some of the more popular sites to earn a few extra dollars.

Become an eBay Seller

eBay is one of the oldest and most popular sites on the internet today. What started as a Ty Beanie Baby reselling platform, eBay today is the go-to place for anything you could possibly want to purchase from private sellers.

Setting up an eBay account is easy. Just create an account, connect a bank account, and start selling! Top sellers on the site can make hundreds of thousands of dollars by being active on the site and providing quality items.

Drive for Uber or Lyft

In 2009 an idea for a different kind of taxi was pitched; a car service to hire personal drivers that could come on-demand with the tap of a button. Uber was launched in 2011 and experienced a meteoric rise to success.

With Uber and Lyft, individuals can volunteer their time and vehicle to take riders to destinations and earn money in exchange. In just 10 short years both Uber and Lyft have come to dominate the taxi market and their drivers can earn hundreds of dollars per day providing rides.

The process for getting hired at these companies is a little more intense than others, due to the safety obligations they require. If you’re looking to drive for Uber or Lyft follow these steps:

  • Apply online or through their app
  • Have a valid driver’s license
  • Submit proof of identification
  • Submit proof of vehicle insurance
  • Pass both a criminal and driving background check

After passing the various background checks required to work for Uber or Lyft, it is time to start thinking about the initial costs involved with becoming an Uber or Lyft driver. To tackle this, many people utilize a personal loan for Uber drivers as a way to get started as a driver and begin earning money. These loans will help you to cover the start-up costs involved, any upgrades necessary to your current vehicle or cover any vehicle maintenance or repairs needed.

Avoid Accumulating Unnecessary Debt

One of the most obvious ways of building wealth in your 30s is to avoid debt. By avoiding debt, you can put all your extra money into savings and investments. If you can pay for your purchase with cash instead of a credit card, use cash and save yourself interest on your items.

Investment strategies for building wealth

Look into Buying a House

While avoiding debt can help in building wealth, mortgage debt can help build wealth. Though it seems counterintuitive, purchasing a house comes with more advantages than disadvantages.

For starters, a house will almost always increase in value. This means that if you purchase a home for $100,000 today, in six months it could be worth $110,000. In terms of investing, this would be an excellent return rate.

Buying a home for personal use is not a quick cash grab. This is a great long-term investment that could realize great profits. Because it is a long-term investment, buy the house you love instead of the one you hope to make money on.

Invest in Real Estate

If you’re not looking to purchase a home for personal use, you may find that investing in real estate can lead to huge payouts and faster than average wealth building. Flipping houses by buying low and selling high can lead to big wins when building a financial portfolio.

Real estate investing, like other high-risk investments, can turn sour. Be sure to investigate all aspects of the real estate deal before you sign any agreement. Speak with real estate professionals to help guide your investing journey.

Art Investing

Investing in high-quality fine art is another path to building wealth. Art, unlike other investments, is insulated by inflation. Because of this, it is a great way to not only build wealth but to preserve wealth as well.

Like real estate, art is meant to be a long-term investment. Buying and selling immediately probably won’t land very large margins but holding on to a piece for a long period could realize huge returns down the road.

Investing in art is also relatively easy. By going to a local or online art auction, you can control the price that you want to spend on a piece. This keeps surprise costs down to almost zero.

Start a side business

If working for someone else doesn’t seem appealing, starting your own business is the best way to build wealth and earn financial freedom. Not only are you working for yourself, but you can also choose what to do with the profits that are realized.

In the United States, starting a business is easier than almost anywhere else in the world. In order to start your own business in the U.S. you only need to complete these steps:

  • Decide which type of business you will have
  • Get an EIN (or social security number)
  • Get a bank account
  • Sell items
  • Pay taxes

That’s it! As long as your company is registered, following all local and federal laws governing the type of business, and your company is paying taxes you can have a legal business in the United States.

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best. We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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