30 July 2011

What should you do when you are in your 30s?

1. Buy a house for own living.

It is a need for you to start a family. However, try not to over burden yourself as you always need to set aside an emergency fund here to counter for difficulty. My suggestion to you is that, try to only use 20% or less for the housing loan. If not, then rent the extra space to your good tenants. After you have a house, then you will have more energy to work harder.

2. Buy insurance including medical insurance.

You will never know what will happen in your daily life. Hence. It is advised that to set about 5-10% of your income to purchase the protection to your family after you setup a family. Please get a good financial advisor to assist you on this.

3. Start investing.

It is never too late to start investing for your kids education or for your retirement funds. You will know the difference of investing versus savings after 30 years later. Try not to mix up investment with gambling as you won't make an easy gain from gambling itself. Get an investment advisor to advice you on this.

4. Estate planning.

It is always advised to plan for your family on this, as it will reduce your family risk to inherit fortune from you. Get a good lawyer to help you on assist.

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