The Best Financial Advice for Women in Their 30s

Barron's - December 9, 2020

Your 30s: Time to Purchase Property

It may seem like a huge leap, but it will set you up well for the rest of your life.

Carla Harris, Vice Chairman, Global Wealth Management, Morgan Stanley

When I was 28, my mother made the suggestion that I buy some land that members of the older generation in my family were selling. They were in their 70s and were tired of paying taxes on it. “What would I do with it?” I thought. There’s not a house on it, nothing else on it. And it would have taken just about all I had been able to save at that point. I was working at Morgan Stanley, and I couldn’t imagine wiping out my bank account to buy something that was utterly illiquid, not seeing it as something that would appreciate.

The property changed hands a couple of times and eventually sold at multiples of what I would have paid. That was a big ah-ha moment for me. It led me to understand that to build wealth, I had to take money out of the bank account and invest it. For young people, property is a good way to start. That’s one of the reasons they are often advised early on to buy a house or an apartment. It’s one way they can begin acquiring wealth.

My advice to people in their 30s is to start thinking about investments seriously. If you can’t buy a house or an apartment where you live, buy land anywhere.

The property my mother recommended and I should have bought was in Florida and I was in New York City. Even though she didn’t know a whole lot about wealth or investing, my mother was smart enough to know that land was a foundation for wealth building. —As told to Nancy F. Smith

Copyright 2020 Dow Jones & Company, Inc. All Rights Reserved.

The information in this communication or any information within the Asset Strategy Advisors, LLC domain, and or any attachments to any AdvisorStream communication is strictly confidential and intended solely for the attention and use of the named recipient(s). If you are not the intended recipient, or person responsible for delivering this e-mail to the intended recipient, please immediately notify AdvisorStream at and destroy all copies of this e-mail. Any distribution, use or copying of this e-mail or the information it contains by other than an intended recipient is unauthorized. This information must not be disclosed to any person without the permission of AdvisorStream LTD. Please be aware that internet communications are subject to the risk of data corruption and other transmission errors. For information of extraordinary sensitivity, we recommend that our clients use an encrypted method when they communicate with us.

  • LinkedIn Social Icon
  • Facebook Social Icon
  • Twitter Social Icon
  • YouTube Social  Icon

To view a copy of our Customer Relationship Summary (CRS), please Click Here

Advisory services offered through Asset Strategy Advisors, LLC. (ASA), Securities offered through Concorde Investment Services, LLC (CIS), member FINRA/SIPC, Insurance offered through Asset Strategy Financial Group, Inc. (ASFG). ASFG and ASA are independent of CIS. To access Concorde’s Form Customer Relationship Summary (CRS), please click here.

Asset Strategy does not offer legal or tax advice. Please consult the appropriate professional regarding your individual circumstances.

There is no guarantee investment plans will meet its objectives.

This site is published for residents of the United States only. Representatives may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed until appropriate registration is obtained or exemption from registration is determined. Not all of services referenced on this site are available in every state and through every advisor listed. For additional information, please contact Asset Strategy at 

© 2021 Asset Strategy, LLC 

 Privacy & Use Policies  |  Broker Check  | Tax & Legal Discloure