In Your 30s

CONCENTRATE ON YOUR CAREER. If you're going to shoot for the big bucks, start doing it now. Want your own business? Set it up right away. You'll build more equity and then have something to sell in 20 years.

IF YOU'RE GOING TO HAVE A FAMILY, THERE'S NO TIME LIKE THE PRESENT. You'll spend $500,000 on each child before they turn 25, so you'll want to be sure to have them off your payroll when you are ready to retire.

SET GOALS. Calculate monthly savings amounts for each individual goal, such as college tuition for the kids and your rainy-day account.

STASH YOUR CASH. Direct as much money as possible into retirement accounts for the tax benefits, and continue to beef up your escape fund.

INSURANCE RX. Take advantage of a high-deductible plan if one is available. This is an excellent way to cut insurance premiums, gain tax breaks, and build a health-care fund for your retirement.

By Lauren Young

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