If you’ve got $100,000 in savings, congratulations! You’re now in a great position to make that money work harder for you and turn it into lots more. But with all the options out there, figuring out what to do next can be tricky.
We’ve got you covered with a bunch of smart money moves that could pay off big time. From new to tried-and-true, this guide will show you how to grow your nest egg and balance risk and reward. No complicated jargon, just straightforward advice you can actually use.
Not all these tips may work for you, but some definitely will, so be sure to read them all.
1. Get a second set of expert eyes
To properly manage your money, work with a professional — it’s totally worth it. If you’re not doing this, you could be missing out on some serious financial gains.
A Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial advisor. That’s twice as much!
If you’ve got at least $100,000 in investments, check out a free service called SmartAsset. You fill out a short questionnaire and instantly get matched with up to three vetted financial advisors in your area, all legally bound to work in your best interests.
Even if you don’t want help picking investments, an advisor can help lower your tax burden, create a comprehensive financial plan, maximize your Social Security, help with estate planning and making sure you’re on the right track. They can also be there in case one day, you’re not.
Using SmartAsset only takes a few minutes, and in many cases you’ll be offered a free consultation.
Nothing to lose and lots to potentially gain. Take a minute and check it out right now!
Please carefully review the methodologies employed in the Vanguard white paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha.”
2. Don’t put all your eggs in one basket
If a large part of your savings is in the stock market — as it should be — you’re well aware that what goes up can also go down. You can’t control the market, but you can hedge against uncertainty by having other forms of wealth.
One of the best ways to protect your savings is diversification. Keep money in different types of investments, ideally ones that go up when others are going down. For example, stocks tend to do poorly when inflation and interest rates are rising and there’s political turmoil brewing.
But there’s one investment that thrives in this scenario: gold.
Be careful who you deal with, though. Lots of companies in the gold business are pretty shady and won’t hesitate to sell you gold and silver at vastly inflated prices.
Goldco, on the other hand, has an A+ rating from the Better Business Bureau, an AAA rating from Business Consumer Alliance, and 4.8 to 5 stars on Trustpilot, TrustLink, Google reviews and ConsumerAffairs. They offer just about everything, from precious-metal IRAs to gold coins and gold bars.
You’ll even receive up to $10,000 in free silver on qualified purchases. If you’ve ever thought about investing in gold, why not take a look?
3. Leave your family $5 million richer
You’d move mountains for your family, but what if you’re not around? Who’ll keep the household running? That’s where life insurance saves the day. Unless your kids are already off the payroll and you’re rolling in dough, you’ll want coverage.
Enter SBLI (Savings Bank Life Insurance). These folks make getting life insurance easier than ordering pizza. Just a few clicks from your couch, no doctors poking or prodding. Answer some quick health questions, and boom — a personalized quote in under 5 minutes.
With SBLI, you can snag term life insurance worth up to $5 million. Or go for the gusto with trusty whole life. Either way, it might cost you less per month than your daily caffeine fix.
Over 1,000,000 families have trusted SBLI with over $187 billion in coverage since 1907. They’re legit and they’ve got your back.
Why put it off? Protecting your loved ones is kind of a big deal.
Get a free, no-obligation quote from your friends at SBLI right now.
4. Invest in your family and your future now
Here’s hoping your retirement years are active, healthy and vibrant, and that you’re able to function as you always have, right up until the time you shuffle off this mortal coil.
But don’t bet on it. According to the U.S. Department of Health and Human Services, 7 in 10 people who turn 65 today will probably need some kind of long-term care.
“But won’t Medicare take care of all that?” Nope. Medicare doesn’t cover long-term custodial care — and paying for it out of pocket could take a huge chunk of your retirement savings. That, plus inflation, could mean near or total depletion of your nest egg.
Without long-term care insurance, your options aren’t great: running through savings, borrowing money, burdening your family with your care, and possibly losing independence because you can’t live on your own.
One place to find long-term care insurance is GoldenCare. (Unless you live in the four states where GoldenCare doesn’t operate: Alaska, Florida, Hawaii and Washington.)
At least check it out and see if it’s a fit. Because planning now could mean a more secure tomorrow.
5. Own multifamily real estate for only $500
Imagine this: You’re chilling poolside, sipping margaritas, while your real estate investments collect rent like clockwork. Sounds pretty sweet, right? With CalTier, you can own a piece of an income-producing apartment fund for as little as $500!
No need to be a landlord. CalTier handles all the tedious management stuff. You can just sit back and relax. Bonus! Because this is a fund, CalTier lets you spread your investment across multiple properties, minimizing risk. They also offer a 90-day money-back guarantee.*
Not long ago, only investing bigwigs could often get access to prime real estate investments. But now, whether you’re an investing shark or a minnow, CalTier levels the playing field.
Begin building your real estate empire with CalTier today. Got $500? Then check it out right now.
See the offering circular by clicking here.
6. Don’t make it harder on your loved ones
When you’re gone, your problems will be over. But the problems for the ones you leave behind will just be beginning.
Show your loved ones you care by creating a will, a trust or both. It doesn’t take much time and doesn’t cost much money. But it will save a ton of both for your family.
A will is a simple legal document that outlines how you want your assets to be distributed, and you can have one in minutes for $199.
A trust allows you to place conditions on how and when your assets are distributed to your beneficiaries. You can get one of these created for as little as $499.
An hour or two preparing these documents means providing for your family, minimizing potential conflicts, and potentially reducing estate taxes. Do yourself and your family a favor and at least check it out right now.
7. Find your share of $1.65 trillion
Talk about a treasure hunt: there’s nearly $1.65 trillion in orphaned 401(k)s, left behind by people switching jobs.
Maybe some of that money is yours. If so, it’s time to bring it home.
A company called Capitalize is now offering free help to roll your old 401(k)s into an IRA of your choice, giving you more control, more investment choices, and way better organization.
And the best part? It couldn’t be easier.
- Step 1: Tell Capitalize where you’ve worked in the past.
- Step 2: Pick a rollover IRA to transfer the money into. (They help you compare options.)
- Step 3: Sit back and let Capitalize do the rest!
If you’ve left an old 401(k) at a previous employer, either because you forgot it, or because you’re not sure what to do with it, take a few minutes and let Capitalize’s free service make your life a lot easier. Try it right now!
8. Get stock market upside without the downside
Dan and Grace are like lots of couples in their mid-50s: doing their best to save as much as they can for their retirement. They know the stock market offers greater returns over time than many other investments, but they’re also well aware of the risks.
As Will Rogers famously said, “I’m not so much interested in the return on my money as I am in the return of my money.”
One day, while doing some online research, Grace found what turned out to be a perfect solution: an investment that offers some of the upside potential of stocks, but without the downside risk.
It’s called Save Market+: a 3-year investment that offers a guaranteed minimum 3.0% annual return on their principal, but with a stock market “kicker” that could increase their expected returns to up to 8.41%, and could be even higher, according to Save’s website.
In other words, if the market does well, they could earn over 9%. But no matter what, they can’t earn less than 3%. And the minimum investment is only $2,000.
Do what Dan and Grace did and check out Market+. It could be just what you’re looking for.
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