For some people, the thought of turning 30 can be terrifying. Who wants to let go of the magic of their 20s, find their first silver strand or wake up to the sound of their biological clock ticking louder than ever… especially if they still haven’t figured their life out?


Thankfully, many people who’ve crossed over to their 30s report that their earlier fears were completely unfounded. Instead, they’ve embraced this coming-of-age and the many milestone moments they’ve encountered along the way. The “roaring 30s” bring an excitement of their own. And hey, silver is a cool hair colour even among some of our favourite idols (BTS’s Jimin rocked it for the band’s Map of the Soul:7 album)!


So, if you’re in your late 20s, get ready for an exciting ride. Here are six milestones to look forward to in your 30s…

Milestone #1: Standing on your own feet


You adore your parents for trying to support you even when you’re already earning your own keep. But is their gesture of love getting in the way of your financial independence? If you haven’t already weaned yourself off their bank account in your 20s, your 30s is a good time to do it. Now that you have a stable income, you can start to pay for your own meals, phone bills, and airfare when you take family trips. The next time your mum buys you underwear or your dad pays for fresh tyres while looking after your car, gently tell them that you love them, but you’ll manage on your own in future. Break those chains of dependence once and for all and declare yourself self-sufficient. 



Milestone #2: Paid-up “youth debts”

This is one of the biggest milestones you’ll want to hit. Whether you’ve got S$8,000 or S$80,000 to clear on your student loan and credit card charges, set a goal to minimise and pay off those debts. Eliminating them can be as easy as simplifying your life: you could cut down on fancy meals, use public transport over cars and cabs to save more, or take up side gigs like giving tuition or pet-sitting for extra income. When you don’t have to carry loans and the damages of your youthful spending follies into your 30s, it’ll be easier to conquer other goals as you enter your 30s, like getting married or buying your own home.



Milestone #3: Increasing credit score


Good financial habits in your 20s, like paying your student loan and credit card bills on time, and not taking on more financing than you need, sets you up for an improved credit score in your 30s. A credit score is like your financial health report card with details on your loans and credit card payment history as well as your credit card balance. Financial institutions scrutinise it when considering whether to grant your application for a S$500,000 home loan, for instance. Even if you’re not buying a home just yet, a high credit score could mean perks like access to the best reward credit cards, which in turn can reap huge cost savings. Credit reports are issued by a credit bureau to financial institutions when they make enquiries about you. You can also ask the bureaus for a copy of this.


These are the approved credit bureaus in Singapore:

For banks and financial firms   

For licensed money lending



Milestone #4: Improving net worth

Your net worth is the difference between the total value of your assets (home, car, retirement savings, investments, and so on) and the total value of your liabilities (car loan, mortgage, debts and so on). At some point in your 30s and with sensible financial practices, this figure will go from a negative number to a positive one. And it’ll grow quickly as your salary increases during your early career years and the debts you took in your 20s are cleared. Take it a step further and aim to increase your net worth by 30% of your annual income each year, for instance. One way to do this is by making extra loan repayments each month rather than just paying the minimum amount, but check your loan terms first to ensure you won’t face prepayment penalties. 



Milestone #5: Retirement plan in motion

Your new-found mastery in deflecting impulse buys and a sharper focus on long-range goals would likely mean you’ll have a solid retirement savings plan in motion – one that’ll help big-dreaming millennials like you realise your aspirations for the future. Your retirement plan might include supplementing the savings in your CPF Special Account with a portfolio of investments, side income from delivering parcels in your free time, and/or a retirement savings policy you bought through an insurer. This assurance of knowing you can retire comfortably comes with a bonus: you’ll better sleep at nights in the years leading up to retirement, which means fewer wrinkles! 



Milestone #6: Protected against severe disability costs


As soon as you hit your 30th birthday, you’ll be enrolled into CareShield Life. It’s almost like your big, official welcome into “Club 30s”. CareShield Life is a national long-term care insurance scheme that provides monthly cash payouts for disability starting at S$624 in 2022. The severe disability payouts are for life, as long you’re unable to perform at least three out of the six Activities of Daily Living (Walking or Moving Around, Dressing, Washing, Feeding, Transferring, Toileting). If you were to become disabled due to an accident or serious illness in your 30s or later, disability payouts from CareShield Life will be crucial for helping to cover everything from therapy to daily living expenses. For higher disability payouts, you can enhance your coverage with a CareShield Life supplement from private insurers.


There you have it: six financial milestones you can look forward to achieving in your 30s. With these 30s milestones conquered, you’ll feel like you’ve really adulted, and it’ll show as you take on life with greater confidence. 





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