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5 Things Not to Do in Your 30’s

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5 Things Not to Do in Your 30’s



Clarence Thompson is owner and founder of Capital Connoisseur Group, LLC, a financial education and consulting company.  Capital Connoisseur Group specializes in financial management including Savings/ Budgeting, Mutual Funds (401(k), IRA), Stock market investing, Estates/ Wills, Insurance (Life and Health), Real Estate financing with over 10 years of financial services experience. Now he is looking to share his expertise advise with you!




For some strange reason I couldn’t wait to get out of my 20s and into my 30’s, not because I was ready to say I was “30 and over” but simply because I just KNEW my financial situation would be so much better after working and being out of college for a few years.  Your 20’s is when you are pulling the long hours to make a name for yourself to be considered a hard worker whether self-employed or working for the ideal Fortune 500 company.  However, your 30’s is when life gets real and you are actually faced with some of your toughest financial decisions and obstacles.   The decisions you make in your 30’s will be very indicative of how well you will be living in your retirement years!  I made a few mistakes along the way, which have allowed me to be able to give you 5 mistakes your SHOULDN’T make and must avoid to have financial freedom.


Avoiding the “F” Bomb


You happen to find the love of your life and you are ready to commit to that person, however LOVE gets in the way of wanting to bring about the uncomfortable word of FINANCES!  The average cost of a US wedding is $30, 000.  Being in love seems so simple until the Finances become an issue.  Combining your life with someone can be a very costly partnership.  Start to have the conversation with your significant other early and often.  I am a firm believer of Prenuptial Agreements.  They aren’t just for the wealthy.  They are for those who have acquired assets before holy matrimony that could be affected if a divorce were to ever occur.


Ignoring Debt


The reason most Americans acquire bad credit and debt is because they avoid dealing with their financial obligations.  Statistics show a record 40 million Americans have student loan debt.  Student Loan debt is like a salvaged marriage.  You know it’s over but you just can’t get away from it.  It’s easy to ignore a person but not debt.  The 6 month grace period goes by fast.  Don’t allow your good credit to be compromised by simply not paying your minimum balance no matter how painful it is.  The government is actually one of the most forgiving debtors you will ever owe so be sure to communicate and negotiate as much as possible so that your good credit is not tarnished.


Avoiding Retirement Savings


Time starts to fly once you hit your 30’s if you haven’t noticed yet.  Start putting 10% or more into your 401(K) or another tax deferred investment vehicle like a Roth IRA.  Once you start making the automatic deposits consistently you won’t even realize it’s gone.


Using Property as Primary Investment


Listen… I tell many if not all my clients’ home ownership is not meant to be used as your primary investment vehicle.  If you haven’t noticed or heard most people are now upside down as it relates to their mortgage versus home value.  Things just ain’t the same anymore!!  Cash is way more valuable to have available as opposed to collateral on a home.  Look both ways before you cross the home ownership street.  Don’t spend what you are approved for and don’t buy if you are not willing to be committed to that home for at least 7-10 years.


Not Having a Living Will


Who wants to think about their Will at 30?  I know it sound’s obsolete, however in your 30’s is when you begin to acquire assets and possessions that need to be protected.  You need to have certain designations in place that your assets are given and provided to who you would want them to be.  Also, please make sure you have a responsible Power of Attorney.  This is the person who will ensure that everything in your will be executed the way you set forth.  As you acquire more possessions your Will needs to be updated.


If you have a financial question, please send an email to INFO@CapitalConnoisseur.com

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