Mos i bëni këto 5 gabime me paratë në të 30-at

Mos i bëni këto 5 gabime me paratë në të 30-at

By Anne Lester/ As a former executive at JPMorgan Asset Management, I saw many paths to retirement and the crucial steps—or missteps—people made at each stage of their investment journey.

Here are the top six financial mistakes I've seen people make in their 30s and why you should avoid them:

1. You don't have an emergency fund

Having an emergency fund is key to avoiding debt later in life, when retirement goals should be front and center.

Ideally, this account should cover three to six months of living expenses so you can get through any unexpected events, such as job loss.

2. Being uninsured

Many people don't like paying for insurance because it means paying for something they hope to never use.

But the consequences of being uninsured are so great that they can wipe you out financially. A medical emergency or accident at work, for example, can change your financial trajectory.

3. Making minimum payments for high-interest debt

The sooner you pay off your debts, the more money you'll have to put toward other financial goals that become increasingly important as you move into your 30s.

4. You don't save for retirement

When you're in your 30s, retirement can seem a long way off. But every penny you save for retirement now will have an additional 10 to 20 years to accumulate savings.

5. Save for your children before you save for yourself

After becoming a parent, it's natural to want to put your children's needs before your own. But saving for your children's education before you save for your retirement is a big mistake.

There are many ways to pay for education, such as scholarships and choosing less expensive schools.