The mission is to get rich right? Changes are that you didn’t come from a wealthy family, since you found your way here. So, if you are in your thirties, and wealth must come from you, here are 7 brutal truths you have to wake up to if you are serious about getting rich.
There is unlimited information out there, varying between financial fairy tales and clear steps your can implement directly. Building substantial wealth starting in your thirties is absolutely possible, but the path is narrower, steeper and far less forgiving. Responsibilities pile up, your salary curve flattens, and your energy levels are depleting.
But I got you.
No one gets left behind. There is too much money floating around in this world for you to be broke. BUT! Your have move to with intent, know what to do and convince other to share a piece of their money with you.
1. You can’t save your way to wealth anymore
Time is no longer on your side, so you must increase your income. Compounding interest still works, but you need much higher savings rates now. In your 20s, saving 10–15% and letting compound interest do most of the work was realistic. After 30, you’re realistically halfway (or more) to traditional retirement age. To catch up or build serious wealth, many people need to save 25–50% of their after-tax income. Probably even more.
The math is unforgiving: a smaller starting principal + shorter runway = you must push much harder on the savings throttle.
No amount of extreme frugality or heroic savings rates can overcome a average income when you are in your thirties. Let’s say you somehow manage to save up to $500 per month as of your 30th birthday. Let’s assume and annual percentage yield (APY) of 5% for arguments sake. Simple math shows the following amount when you hit the age of 65: $602.449.
That’s a decent amount right?
But!! The APY has to hold over the course over 35 years. Then, I don’t know what $500 per month means to you right now. I, however, certainly cannot manage to save $500 each month at this stage in my life. And, if you account for inflation, your purchasing power will drop. The only comforting thing is that, if I only need $45.000 per year to live off of, I can do so for 13 year when I’m 65. But only if everything stays the same. But we all know, life never stays the same. That is certain.
So simple math shows you can’t save enough to reach +$1M.
Savings discipline does matter, but it’s a multiplier, not an engine to scale. The numbers simply don’t scale high enough with a modest earning. And without a dramatically higher income, aggressive saving only buys you a bit more comfortable version of middle-class retirement, not real wealth. If you aren’t on a clear path to career acceleration, don’t have a side hustle, equity or business ownership wealth stays out of reach.
When time runs out, it’s imperative to make a conscious decision to build wealth and move with purpose.
2. Lifestyle creep is the silent killer of building real wealth
Lifestyle creep at this age is real silent killer. I’m guilty of it too! Every promotion or raise disappears into a bigger house, a nicer car, and it is definitely spent on extended vacations or more expensive holidays.
The problem is that these upgrades are seen as societal milestones. Insane amounts of money is spent on wedding parties, a ‘forever home’ or what have you as other so called adult achievements like fancy diners and fine dining. It destroys your path to wealth and leaves your with a big phat check and financial obligation for quite some time.
Even if you can afford such things on paper, it quietly sabotages your net worth growth for 10 – 15 years. You sacrificing your future self for your present ego and social circle. But this is what happens if you don’t have a financial plan. When income rises, most people upgrade everything at once: a bigger house, a premium car, elaborate vacations and a lot of dinners.
If you want to build wealth starting in your thirties, you must invest your incremental income to produce returns. And if you truly are serious, you even shrink your spending and consumption habits when your earnings jump. You have to give up the good to get to great.
3. “Safe” 7–10% market returns are too slow this late in the game
Starting serious investing at 35 with $40k saved and adding $18k/year at an 8% real return leaves you with roughly $1.1–1.3 million by 65. That’s respectable middle-class security — but hardly wealthy in tomorrow’s dollars, especially in expensive cities.The people who reach multimillionaire status almost always combine high income, high savings rates (40–70%+), and some form of outsized return: business ownership, real-estate leverage, startup equity that hits, or concentrated bets that paid off. Passive indexing alone is usually not enough fuel after 30.
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