Challenges such as soaring inflation and housing costs have many 30-somethings with increasing salaries wondering how to start building wealth.
In a recent interview with CNN Underscored, Burke Koonce, investment strategist at Trust Company of the South, shared practical advice for investors in their 30s. The article “6 Strategies for Building Wealth in Your 30s” highlights the importance of debt management, maximizing retirement savings, and strategic investing for personal and career growth.
Drawing on the principles from Peter Lynch’s book, One Up On Wall Street, Burke advocates for the “buy what you know” approach, explaining the benefits of investing in familiar, well-known companies such as McDonald’s, Nike and Apple. He points out that recognizing and understanding what you use on a daily basis is a valuable first step in identifying potential investments you can make. Burke further adds that when you can make the investment process fun, you may find that you enjoy managing personal finances.
