Top 13 'Lost-Decade-Reclaiming' Saving Tips to try for Catching Up on Retirement in Your 30s - Goh Ling Yong
Ah, your twenties. A whirlwind of first jobs, figuring out who you are, chasing experiences, and maybe making a few… questionable financial decisions along the way. It’s a decade of growth, exploration, and often, not a lot of retirement saving. You blink, and suddenly you’re in your thirties, looking at your savings account and feeling a creeping sense of panic. Welcome to the "I'm behind on retirement" club. The good news? Membership isn't permanent.
This feeling is incredibly common. Life happens. Student loans, career changes, starting a family, or simply prioritising travel and experiences can leave your retirement fund looking a little lean. We call this the "lost decade," but I want to reframe that. It wasn't lost; it was lived. Now, in your 30s, you have a powerful combination that your 20-year-old self lacked: a higher potential income, more wisdom, and a clear, motivating goal. The next ten years can be your "found decade," a period of intense, focused progress that will more than make up for lost time.
Catching up on retirement in your 30s isn't about shame or regret. It’s about strategy, discipline, and making smart, deliberate choices. You still have a 25-30 year runway before retirement, which is plenty of time for the magic of compounding to work its wonders. The key is to start now and be aggressive. Here are 13 practical, 'lost-decade-reclaiming' saving tips to get you firmly on the path to a comfortable future.
1. Acknowledge the Past, But Aggressively Focus on the Future
Before you can move forward, you need to make peace with where you are. It’s easy to get stuck in a loop of "if onlys"—if only I'd started investing earlier, if only I hadn't bought that car. This kind of thinking is a trap. It breeds inaction and despair, which are the enemies of financial progress.
Your first step is a mental one: forgive your younger self. They were doing the best they could with the knowledge they had. Today, you have more knowledge and a different set of priorities. Acknowledge the gap between where you are and where you want to be, not as a failure, but as a starting line. Frame it as a challenge you are equipped to conquer, not a hole you'll never escape.
Action Tip: Write down your target retirement number on a sticky note and place it somewhere you see it daily, like your monitor or bathroom mirror. Every time you see it, it's not a reminder of how far you have to go, but a confirmation of the direction you are now heading.
2. Get Brutally Honest With Your Numbers
You cannot map a journey without knowing your exact starting coordinates. It's time to put everything on the table—the good, the bad, and the ugly. This means calculating your net worth (assets minus liabilities), tracking every single dollar of your spending for a month, and listing all your debts with their corresponding interest rates.
This process can be uncomfortable, even shocking. You might discover you’re spending hundreds on subscriptions you forgot about or that the interest on your credit card debt is negating your investment gains. But this clarity is non-negotiable. It’s the diagnostic tool that will reveal exactly where your money is going and where the biggest opportunities for change lie.
Action Tip: Use a budgeting app like YNAB (You Need A Budget) or a simple spreadsheet. For 30 days, track everything. The goal isn't to judge, but to gather data. This data will be the foundation for your entire catch-up plan.
3. Define Your "Why" and Your "When"
"I need to save for retirement" is a vague and uninspiring goal. It’s like saying "I want to get in shape." What does that actually look like? To stay motivated during the tough months, you need a crystal-clear vision of the future you're working towards.
Get specific. What does your ideal retirement look like? Is it travelling the world, spending time with grandkids, starting a passion business, or simply enjoying a life free from financial stress in a paid-off home? What's the target age you want this to happen? 60? 55? Put a date on it. Then, use a retirement calculator to estimate how much you'll need to make that vision a reality. This tangible number turns a fuzzy concept into a concrete mission.
Action Tip: Create a "Retirement Vision Board" on Pinterest or in a notebook. Find images that represent your ideal retirement lifestyle. This visual reminder of your "why" will be a powerful motivator when you're tempted to splurge on something that doesn't align with your long-term goals.
4. Automate Your Savings and Investments Aggressively
Willpower is a finite resource. Don't rely on it. The single most effective way to catch up is to take yourself out of the equation. This means automating every part of your financial life so that your goals are being met before you even have a chance to spend the money.
Set up automatic transfers that move money on payday. The classic "pay yourself first" model needs to be put on steroids. Don't just save what's left over; decide on an aggressive savings percentage (aim for 20-30% of your income if possible) and have it automatically moved to a separate high-yield savings or investment account. This creates "manufactured scarcity" in your checking account, forcing you to live on the remainder.
Action Tip: Create a "waterfall" of automatic transfers.
- Paycheck hits your primary checking account.
- The next day, a fixed amount automatically transfers to your Central Provident Fund (CPF) Special Account for a voluntary contribution.
- Another transfer goes to your Supplementary Retirement Scheme (SRS) account.
- Another goes to your brokerage account for your index fund investments.
- What's left is what you have for the month.
5. Conduct a "Lifestyle Audit," Not Just a Budget
A budget tells you where your money went. A lifestyle audit asks why it went there. In your 30s, you likely have lifestyle habits that were formed in your 20s when retirement felt a million years away. It's time to put every recurring expense on trial.
Go through your bank statements line by line. For each subscription (streaming services, gym memberships, software), ask: "Does this truly add value to my life right now and align with my goal of catching up?" Be ruthless. The same goes for daily habits like gourmet coffee, food delivery services, and frequent online shopping. It's not about deprivation; it's about conscious spending. Could you get the same result for less?
Action Tip: Implement the "30-Day Rule" for any non-essential purchase over $100. If you want something, put it on a list. If you still want it and can justify it 30 days later, then consider buying it. More often than not, the impulse will fade, and you'll have saved that money instead.
6. Create a "Side Hustle Fund"
The fastest way to accelerate your savings is to increase your income. In your 30s, you have valuable skills and experience. Monetize them. This could be freelancing in your field, consulting, tutoring, or turning a hobby into a small business.
The crucial part of this strategy is to psychologically and financially wall off this income. Do not let it merge with your regular salary. Open a separate bank account where all side hustle income is deposited. This entire account has one purpose: to be transferred directly into your retirement investment accounts. This prevents lifestyle inflation and turns your extra effort directly into fuel for your future.
Action Tip: Identify one skill you have that people would pay for. Spend five hours a week on it. Even an extra $500 a month, invested directly, can add hundreds of thousands to your retirement nest egg over 25-30 years thanks to compounding.
7. Max Out Your Tax-Advantaged Retirement Accounts
This is the low-hanging fruit of retirement planning, and it's your absolute first priority. These accounts are designed by the government to help you save, offering significant tax breaks that you can't get anywhere else. In Singapore, this means your CPF and SRS accounts.
Your CPF Special Account (SA) already has a fantastic base interest rate. Making voluntary contributions here not only boosts your retirement savings in a very safe instrument but also gives you tax relief. Similarly, contributions to your SRS account reduce your taxable income for the year, meaning you pay less tax now while saving for the future. Maxing these out should be your goal before you even think about investing in a regular brokerage account.
Action Tip: Calculate the maximum you can contribute to your CPF SA and SRS for the year. Divide that number by the number of remaining months and set up an automatic transfer for that amount. Treat it as a non-negotiable bill.
8. Embrace a Higher-Risk, Higher-Reward Strategy (Wisely)
Time is the single greatest asset an investor has. At 30, you have decades before you'll need to touch this money. This means you can afford to take on more risk for the potential of higher returns, as you have plenty of time to recover from market downturns.
This does not mean gambling on speculative stocks. It means having a portfolio heavily weighted towards equities, such as broad-market index funds or ETFs (Exchange-Traded Funds). A simple, effective strategy is to invest in a low-cost, globally diversified ETF. While bonds and safer assets have their place, in your 30s, they can be a drag on the growth you desperately need to catch up.
Action Tip: Consider a simple "three-fund portfolio" strategy consisting of a local stock market index fund, an international stock market index fund, and a smaller allocation to a bond fund. As you age, you can gradually increase your bond allocation. For now, keep your stock allocation high (80-90%).
9. Invest in Your "Human Capital"
Your ability to earn an income is your biggest financial asset, by far. The most significant jump in your savings rate won't come from cutting lattes; it will come from a substantial salary increase. In your 30s, you should be strategically investing in yourself to maximize your career trajectory and earning potential.
This could mean getting a professional certification, taking a course in a high-demand skill like data analytics or digital marketing, or attending industry networking events. It also means actively managing your career: knowing your market value, negotiating raises confidently, and being willing to switch jobs for a significant pay bump. A 20% salary increase has a much bigger impact than a 20% budget cut.
Action Tip: Identify one skill that would make you significantly more valuable in your industry. Dedicate the next six months to developing it. Update your resume and LinkedIn profile to reflect this new skill and start testing your market value.
10. Strategically Annihilate High-Interest Debt
High-interest debt, like credit card balances or personal loans, is a retirement-killer. The double-digit interest rates you're paying are working against you, actively cancelling out any investment gains you might be making. Paying off a credit card with an 18% interest rate is the equivalent of getting a guaranteed 18% return on your money. You can't beat that anywhere.
Before you get aggressive with investing outside of your tax-advantaged accounts, you must have a plan to destroy this debt. Two popular methods are the "Avalanche" (paying off the highest-interest debt first, which is mathematically optimal) and the "Snowball" (paying off the smallest balance first for a psychological win). Either way, make extra payments and be relentless until it's gone.
Action Tip: List all your debts from highest interest rate to lowest. Direct all your extra cash flow (after your retirement account contributions) to the debt at the top of the list while making minimum payments on the others. Once it's paid off, roll that entire payment amount onto the next debt on the list.
11. Leverage "Found Money" for Maximum Impact
Throughout the year, you'll likely receive sums of money you don't count on in your monthly budget. This "found money" includes work bonuses, tax refunds, cash gifts, or even a small inheritance. The temptation is to see this as "fun money" and spend it on a vacation or a gadget.
To reclaim your lost decade, you must change this mindset. Every dollar of found money is an opportunity to buy back your time in the future. Create a rule for yourself: 100% of all windfalls go directly towards your catch-up goal. It could go to paying down debt or straight into your investment account. This discipline can supercharge your progress in a single transaction.
Action Tip: Before the money even hits your account, decide where it will go. If you know a bonus is coming in March, have the brokerage account details ready. The moment it lands, transfer it out before you have a chance to think of other ways to use it.
12. The "One-Year-Older, One-Percent-Richer" Rule
Trying to go from saving 5% of your income to 25% overnight is a recipe for burnout and failure. A more sustainable approach is to make incremental, automated increases over time. This is where the "One-Percent-Richer" rule comes in.
The rule is simple: Every year, on your birthday or when you get a salary increase, bump up your automated savings/investment percentage by at least 1%. If you're saving 15% this year, you'll save 16% next year, and 17% the year after. This small change is barely noticeable in your monthly budget, but over a decade, it dramatically increases your savings rate without any painful, drastic cuts.
Action Tip: Set a calendar reminder for your next salary review or birthday. The title should be: "Increase automatic investment transfer by 1%." It's a small, easy action that pays massive dividends over time.
13. Find Your Financial Accountability Partner (or Professional)
The journey to catching up can feel lonely and overwhelming. It's easy to lose motivation or second-guess your strategy. The solution is to bring in accountability. This could be a spouse or a trusted, financially-savvy friend with whom you can share your goals and check in on your progress.
For a supercharged plan, consider working with a professional. A good financial advisor can help you create a personalized roadmap, optimize your investments, and provide objective advice when you're feeling emotional about the market. This isn't a sign of weakness; it's a sign of commitment. Just as an athlete hires a coach to perform at their best, you can hire a professional to optimize your financial life. This is where the expertise of a professional like Goh Ling Yong can be invaluable in creating a clear, actionable plan tailored to your specific situation.
Action Tip: Schedule a "money date" once a month with your partner or accountability buddy. Review your progress, celebrate your wins (no matter how small), and troubleshoot any challenges. This dedicated time keeps your goals top of mind and reinforces your commitment.
Your "Found Decade" Starts Now
Waking up in your 30s and realizing you need to get serious about retirement can be daunting, but it is far from a hopeless situation. You have the income, the wisdom, and the most critical ingredient: time. By implementing these aggressive, strategic tips, you can turn the next ten years into a powerful period of wealth creation that will set the stage for the rest of your life.
Don't let analysis paralysis stop you. The key is to start. Pick just one or two of these tips and implement them this week. Automate that first transfer. Tally up your debts. Calculate your net worth. Every single step forward, no matter how small it feels, is a victory. You didn't "lose" a decade; you just built a different kind of foundation. Now, it's time to build your financial fortress on top of it.
What's the one tip you're going to start with today? Share your first step in the comments below—declaring your intention is a powerful way to begin
About the Author
Goh Ling Yong is a content creator and digital strategist sharing insights across various topics. Connect and follow for more content:
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