Over 35 and Broke: Here Are 16 Decisions You Could Have Made A Decade Ago to Be Rich Today

35 and broke

Reaching your mid-thirties and evaluating your financial health can be a moment of introspection. Reflecting on the past, there are key decisions that could have significantly improved your financial standing today. From career choices to investment strategies, this article uncovers 16 potential paths you could have taken a decade ago to pave your way toward wealth. While it’s easy to dwell on what might have been, these insights can still guide your future financial journey.

1. Embrace Financial Literacy Early On

Financial Literacy

A decade ago, investing time in understanding personal finance, investments, and savings strategies could have been transformative. Financial literacy empowers you to make informed decisions, avoid common pitfalls, and capitalize on opportunities. It’s about understanding the value of money and how to make it work for you.

2. Skip College

Skip College

While college can lead to high-paying jobs, it’s not the only path to success. A decade ago, exploring vocational training, apprenticeships, or starting a business could have been an alternative path. This decision could have saved you from significant student loan debt and provided practical skills or business experience that is highly valued in many industries.

3. Chose the Right Major in College

choosing the right major

If college was your chosen path, selecting the right major could have been crucial. A decade ago, majors in technology, healthcare, or business were predicting promising futures. Choosing a field with high demand and growth potential could have set you up for a lucrative career, significantly impacting your financial success.

4. Invest in Stocks Early

invest in stock early

Early investment in the stock market could have been a gateway to financial growth. A decade ago, small but consistent investments, coupled with the power of compound interest and market growth, could have resulted in a considerable financial portfolio by now.

5. Maximize Retirement Contributions

Retirement Plan Contributions

Enhancing your retirement contributions a decade ago, especially in accounts with employer matching, could have significantly grown your retirement savings. This step is crucial for long-term financial security, allowing you to benefit from compound interest and tax advantages.

6. Save and Invest Your Tax Refund

Tax Refund

Rather than spending your tax refunds, saving or investing them could have compounded over time. A decade ago, putting these funds into high-yield accounts or investment opportunities could have contributed substantially to your wealth.

7. Live Below Your Means

Living below your means

Living a modest lifestyle and saving the excess could have accelerated your path to wealth. A decade ago, avoiding unnecessary expenses and prioritizing savings over luxury could have allowed you to accumulate wealth more rapidly.

8. Avoid High-Interest Debt

high interest debt

Dodging high-interest debts like credit card balances was crucial. A decade ago, paying off these debts quickly or avoiding them altogether could have saved you from the high cost of compounding interest, leaving more funds available for investment.

9. Negotiated a Higher Salary

Salary Negotiation

Negotiating a higher salary or better benefits a decade ago could have significantly boosted your earnings over time. Higher earnings mean more potential for saving and investing, leading to increased wealth.

10. Invest in Real Estate

real estate investment

Real estate can be a lucrative investment. A decade ago, investing in property, either for rental income or long-term appreciation, could have provided a steady source of passive income and capital gains. Even those that bought homes in the last decade have seen exponential growth in home equity. This has allow many of them to become millionaires based on home ownership alone.

11. Develop a Strong Network

strong network

Cultivating a robust professional network could have opened doors to new opportunities. A decade ago, connecting with mentors and industry leaders might have led to better job offers, investment advice, or business partnerships. This type of networking is what made crypto millionaires, real estate tycoons, and startup hubs possible. It’s about tapping into a community of like-minded individuals and leveraging their knowledge and experience for mutual growth.

12. Continuously Upgrade Skills

upgrade your skills

Keeping your skills relevant and up-to-date is key in a rapidly evolving job market. A decade ago, investing in further education or training could have led to better job prospects and higher earning potential.

13. Went To Work For A Start Up

start up

Joining a startup a decade ago could have been a high-risk, high-reward move. Startups often offer stock options or equity as part of compensation. If the company had succeeded, those shares could have turned into significant wealth.

14. Create Multiple Income Streams

Multiple Income Streams

Diversifying your income sources reduces reliance on a single paycheck. A decade ago, generating income from different sources, such as rental properties, investments, or a side business, could have provided financial security and opportunities for wealth accumulation.

15. Set Clear Financial Goals

financial goals

Having specific financial goals is crucial. A decade ago, setting and diligently working towards these objectives could have provided the motivation and direction necessary for accumulating wealth.

16. Chose The Right Spouse


The impact of your spouse on your financial well-being can be significant. A decade ago, choosing a partner who shares your financial goals and values could have played a crucial role in your journey towards wealth. A like-minded spouse not only contributes to household income but also aligns on savings, investments, and spending habits.

Together, you could have built a strong financial foundation, leveraged dual incomes for investments, and made strategic decisions that propel you both towards financial success. Remember, in finances as in life, teamwork can make the dream work.

Harnessing Lessons from the Past for a Brighter Future

Brighter Future

Reflecting on these 16 strategies offers more than just a walk down memory lane; it provides invaluable lessons for your current and future financial journey. While the past cannot be changed, understanding the potential paths you could have taken sheds light on opportunities still within your reach. The journey to financial success is ongoing, and it’s never too late to adopt new strategies, learn from past experiences, and make informed decisions that can positively impact your future.

Tamila McDonald
Tamila McDonald

Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.


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