Are you in your 30s? It's time to take a look at your retirement plan

The video discusses the importance of retirement planning in your 30s, highlighting the need to balance short-term financial goals with long-term savings. It emphasizes automating savings and investments, such as 401Ks and IRAs, and suggests considering a Roth IRA for additional savings. The video also covers investment strategies, recommending a more aggressive approach in your 30s to make your money work for you. It provides guidelines for savings, stressing the importance of starting where you can and increasing contributions over time. Finally, it encourages viewers to stay focused on their financial goals and offers additional resources for further learning.

What is a common financial challenge people face in their 30s?

• Starting a new hobby

• Retirement planning

• Buying a home

• Traveling the world

Which of the following is a recommended strategy to stay on track with retirement savings?

• Ignoring financial goals

• Investing in high-risk stocks

• Automating bills and savings

• Taking out a large loan

What type of retirement account is suggested for additional savings if you have extra income?

• Savings account

• Checking account

• Roth IRA

• Traditional IRA

What is the purpose of a target date fund?

• To focus solely on stocks

• To provide immediate returns

• To automatically adjust asset allocation

• To increase risk as you age

What is the rule of thumb for savings by the age of 30?

• Have twice your salary saved

• Have no savings

• Have half your salary saved

• Have your annual salary saved