3 Essential Steps for Women in Their 30s to Achieve Millionaire Status

If you're a woman in your 30s and want to be a millionaire before the man sitting next to you, then you need to do the following three things today.

1. Control Your Finances

Do not let your partner control your finances. 80% of you will die widowed, and 50% of you will experience divorce. You need to have direct access to every one of these accounts. If you wait until it’s too late, I promise it will be a messy process.

If you’re having trouble crafting the right language, say, “Hey, it's super important that I understand what’s going on with our expenses and income so I can make good financial choices moving forward.”

2. Contribute to an HSA

If you have access to an HSA (Health Savings Account), make sure you’re putting $25 to $50 a month into that account. You can deduct contributions, choose investments, and have your money grow tax-deferred. As long as those distributions are spent on qualifying medical expenses, they are tax-free. This is one of the single greatest financial accounts you can have.

3. Consider Life Insurance

If you have any dependents or anyone who relies on your income, you need to consider life insurance. Disclaimer: I do not sell life insurance, but if you have dependents, it’s wise to think about what would happen if they suddenly lost access to your income. You can obtain relatively cheap term life insurance that will cover worst-case scenarios.

Conclusion

Now you have a three-step action plan. Just remember that every day you wait is a day that you waste. Take charge of your financial future today!

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