Rich people know about money.
They know how to make their money grow. They know how to make their money work as hard as they do.
Rich people never have to wonder where the heck all their money’s going. They just seem to know this stuff somehow.
What do they know that we don’t?
Here are some good places to start. They won’t all work for you, but some will. So be sure and check them all out.
1. Rich people invest in real estate
Real estate has long been a path to wealth. But you need to be wealthy to get started, right?
Wrong. For as little as $10, Fundrise can get you started. Fundrise lets you buy into real estate properties the same way stocks let you buy into companies.
In effect, you’re a landlord without having to run background checks or serve eviction notices. While it’s not a guarantee of future results, Fundrise investors have earned an average of 25% within three years; if they held on for five years, the increase was more than 50%.
People are always going to need a place to live – and recent rent jumps make real estate investing more profitable.
Take two minutes and check it out.
Note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on moneytalksnews.com. All opinions are our own.
2. Rich people get a second set of eyes
How do the rich grow their money? By working with a professional, that’s how.
One 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 adviser. 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 advisers in your area, all legally bound to work in your best interests.
Even if you don’t want help picking investments, an adviser can help lower your tax burden, create a comprehensive financial plan for you, maximize your Social Security, and serve as a second pair of eyes to make sure you’re on the right track.
Using SmartAsset only takes a few minutes, and in many cases you’ll be offered a free consultation.
Please carefully review the methodologies employed in the Vanguard white paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha.”
3. Rich people hedge their bets
Investors with significant portions of their savings in the stock market know that what goes up can also go down. While we can’t control the market, many investors have hedged against uncertainty through diversification.
Gold has tended to perform well when stocks struggle, especially during inflation, rising interest rates, and political turmoil.
Augusta Precious Metals stands out in the gold business. Football legend Joe Montana endorses Augusta as the “best overall gold IRA company” and is its ambassador.
They boast an A+ rating from the Better Business Bureau, the 2024 Best Gold IRA Company designation from Money, the highest rating from TrustLink and a 5/5 rating from Consumer Affairs.
Getting started with Augusta Precious Metals is effortless:
- Request their free guide
- Book a complimentary call
- Open a self-directed IRA
- Fund your account (minimum $50,000) via transfer or rollover
- Select your preferred metals with incredible customer support
- Augusta handles purchase and secure storage
With Augusta, customers aren’t just diversifying – they’re securing peace of mind. They offer
everything from precious-metal IRAs to gold coins and bars. Plus, precious metals held in a pre-tax IRA will appreciate tax-deferred until you make qualified withdrawals.
Augusta not only offers a price guarantee on all coins, but you may qualify for up to 10 years of fees paid on your custodial and storage services, reimbursed with premium coins added to your
account.
If you ever thought about adding gold to your portfolio, why not take a look right now?
4. Rich people don’t overpay for things
If you’re like most Americans, you’re probably paying too much for car insurance. But shopping around for a better deal is such a hassle.
Well, it used to be.
Now you can just check out Provide Insurance, the largest online marketplace for insurance in the U.S. Provide Insurance lets you compare quotes from more than 175 different carriers in minutes.
All you have to do is answer a few questions about yourself and your driving history. Then Provide will show you the best options for your needs and budget.
You could save up to $610 a year on car insurance by using Provide Insurance. That’s money you could use for other things, like investing, saving or paying off debt.
Don’t let your current insurer overcharge you. Try Provide Insurance today and see how much you can save on car insurance.
5. Rich people leave a legacy
A tale of life insurance.. Meet Aaron and Amy, a two-income couple raising a couple of kids.
One day it occurred to Amy: Our lives are great, but what if something happens to either or both of us? They need both of their incomes just to stay afloat, much less achieve their financial goals, not the least of which is putting the kids through college.
Aaron and Amy started reading up on life insurance and discovered a solution that blew them away: a 2-million-dollar life insurance policies start as low as $2/day*. That’s less than what they pay for their fancy boutique lattes.
Amy and Aaron now sleep a lot easier, knowing that, if worse comes to worst, the family may not have to stress over bills, mortgages, or living expenses.
*This is a fictional anecdote. Ethos is an insurance provider seeking to help individuals over the age of 35 secure their future.
Get a Quick, Free Quote Right Now
6. Rich people plan ahead
Here’s hoping that your retirement years are active, healthy and vibrant and that you’re able to function as you always have, right up to 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.
Think you can’t get long-term care (LTC) insurance after age 40? Think again. GoldenCare writes LTC coverage for most people. (Unless they live in the four states where GoldenCare doesn’t operate: Alaska, Florida, Hawaii and Washington.)
“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 LTC 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.
It’s impossible to say whether your current health will stay good. That’s why investigating long-term care insurance is so important: It protects you and your family.
It’s at least worth checking out, right?
Get Your Fast, Free Quote Today
7. Rich people use this secret source for discounts
Are you over 18? Then you’re eligible to save hundreds every year simply by joining AARP.
“What?” You say, “I thought AARP was for old, retired people.”
As it turns out, you don’t have to be 50 to join AARP. And members get discounts on hundreds of things, like:
- Up to $200 per person off flights
- Up to 30% off rental cars
- Up to 15% off restaurants
- Up to 20% off hotels
You’ll also save on eyeglasses, prescriptions, meal deliveries and lots more. And that’s not all. AARP offers a Fraud Watch Network, job listings, retirement planning tools, games, and tons of information, programs and resources.
Anyone trying to save money can’t afford not to join AARP, especially since the cost is as low as $12 per year with auto-renewal. You’ll likely recoup the cost in the first week.
They even give you a free gift to sign up!
Bonus: Get free, expert advice on everything money-related
What’s free and gives you tips to spend less, make more and avoid rip-offs? The Money Talks Newsletter. Every day we provide free tips and tricks that will make you richer. And it doesn’t cost a dime.
Our more than one million subscribers report saving an average of $941 with our simple, direct advice.
Click here to sign up. It only takes two seconds. And if you don’t like it, it only takes two seconds to unsubscribe. Don’t worry about spam: We never share your email address.
Try it. You’ll be glad you did!
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