5 Must-Have Money Accounts Before Turning 40

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1. A Retirement Account

If you’re in your 30s and don’t have one yet, now’s the time to fix that.

Your future self will thank you for every dollar that compounds quietly in the background.

Here’s why it’s non-negotiable:

• Tax advantages, so more of your money stays invested instead of going to taxes.
  
• Employer matches, which are basically free money if you contribute.
  
• Automatic growth, because compounding rewards patience, not timing.
  

👉 Here's How You'll Do It: Open a 401(k) through your job or a Roth IRA if you’re self-employed, then automate deposits monthly.

Make It Easy: Try Boldin to calculate how much you need to save each month to hit your future goals.

2. A 1-Year Emergency Fund

Life loves surprises. broken appliances, layoffs, and car repairs. and an emergency fund keeps those from turning into disasters.

Having 12 months of expenses covered buys you peace of mind and freedom to make smart choices.

Here’s why it matters more than you think:

• Protects your investments, so you’re not cashing out early.
  
• Reduces stress, because you always have a safety net.
  
• Gives control, letting you handle setbacks without panic.
  

👉 Here's How You'll Do It: Save a little each week until you hit 12 months of basic expenses. Consistency is the secret.

Make It Easy: Use a Betterment Cash Reserve Account to earn solid interest while keeping your money accessible.

3. A “Fun Money” Account

Yes, you’re allowed to have fun. without guilt or financial chaos.

A “fun money” account keeps your budget balanced between saving for tomorrow and enjoying life today.

Here’s why it’s a game-changer:

• Prevents burnout, because you still get to enjoy what you earn.
  
• Keeps budgets intact, separating wants from needs.
  
• Builds discipline, teaching you how to spend intentionally.
  

👉 Here's How You'll Do It: Open a separate checking account just for guilt-free spending on hobbies, food, or travel.

Make It Easy: Keep a prepaid debit card linked to this account so you never overspend beyond your fun budget.

4. A Health Savings Account

Think of an HSA as a supercharged medical savings account. with tax perks.

It’s one of the few accounts that lets you save, invest, and spend tax-free for healthcare needs.

Here’s why it’s worth every penny:

• Triple tax advantage, saving you money going in, growing, and coming out.
  
• Long-term benefits, since unused funds roll over every year.
  
• Healthcare safety net, covering costs that insurance misses.
  

👉 Here's How You'll Do It: If you have a high-deductible health plan, open an HSA and contribute monthly for future medical expenses.

Make It Easy: Open a Lively HSA account to manage and invest your healthcare savings easily.

5. A Separate Account For Your Small Business

If you’ve got a side hustle or business, mixing personal and business money is a recipe for chaos.

A separate account keeps everything clean, organized, and tax-ready.

Here’s why it’s essential:

• Simplifies taxes, so you’re not scrambling at year-end.
  
• Tracks profits clearly, showing what’s working in your business.
  
• Builds credibility, especially if you ever expand or seek funding.
  

👉 Here's How You'll Do It: Open a business checking account under your business name and run every expense and payment through it.

Make It Easy: Try KeeperTax to automatically track business expenses and deductions without the paperwork headache.

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