How to build wealth at any age

March 08, 2024

No matter your age, there are important financial decisions to make. This guide to key money moves for each decade can help you lay a solid foundation toward long-term financial security.

How to build wealth in your 20s

Lay the financial groundwork.

Establish your financial independence


Set a course for your financial future


What insurance you need in your 20s

  • Making sure you’re covered by insurance is an important part of your financial foundation.
  • The first step is to learn about the different types, from health insurance to disability insurance.


Boost your financial well-being

  • Start your journey toward financial health by setting goals, tracking your spending and assessing the assets you already have.
  • Here’s a 30-day checklist to start building these habits.


How to build wealth in your 30s

Plan for a bright financial future.

Set your personal financial goals

  • Do you have dreams you’d like to accomplish? It’s time to form a financial plan.
  • You may want to buy a house, start a family or business, or pay down debt.
  • A budget can help you keep track of all your financial goals.


Continue to save for retirement


Protect yourself and loved ones


How to build wealth in your 40s

Ways to grow your money.

Explore your options when you’re earning more

  • Your 40s are your prime earning years, and that comes with financial options, from paying down debt to charitable giving to bolstering your emergency savings.
  • Life events happen—supporting children or parents, divorce, marrying again—so check in with your financial plan as your life evolves.


Expand your retirement savings


Protect your #1 financial asset: you


How to build wealth in your 50s

Get serious about retirement planning.

Make the most of your empty nester lifestyle

  • Are your children out of the home? Encourage their financial independence.
  • Meanwhile, cut down on your own expenses, reconsider taking on debt, and save when you can.


Envision your retirement needs


Consider your long-term care needs

  • Your premiums will be at their lowest now, so consider purchasing long-term care insurance to help with future medical or personal needs.


Picture the legacy you want to leave


How to build wealth in your 60s

Make key financial decisions.

Prepare to make the leap to retirement


Apply for Medicare

  • For most people, Medicare eligibility starts three months before turning 65 and ends three months after turning 65. You’ll have the option to buy supplemental coverage, as well as coverage for prescription drugs.


Re-evaluate your insurance portfolio


Talk with family about estate planning

  • Your estate plan spells out the legacy you’ll leave loved ones, so get them involved in the conversation.
  • Discuss topics like who should be beneficiaries for certain assets or who will take on a family business.


When it comes to managing your finances, you don’t have to go it alone. Learn how our integrated approach to financial planning can help you work toward the life you want.

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Start of disclosure content

Investment and insurance products and services including annuities are:
Not a deposit • Not FDIC insured • May lose value • Not bank guaranteed • Not insured by any federal government agency.

U.S. Wealth Management – U.S. Bank is a marketing logo for U.S. Bank.

The information provided represents the opinion of U.S. Bank. This is not intended to be a forecast of future events or guarantee of future results.

U.S. Bank and its representatives do not provide tax or legal advice. Your tax and financial situation is unique. You should consult your tax and/or legal advisor for advice and information concerning your particular situation.

U.S. Bank does not offer insurance products but may refer you to an affiliated or third party insurance provider.