Who wants to be a millionaire? You do, of course.
Believe it or not, there are nearly 23 million millionaires in America. That’s according to the annual Global Wealth Report published by the Swiss bank Credit Suisse.
Many of these people are simply those who have been smart with their money by finding ways to cut expenses, and then investing those savings to get ahead.
If you’d like to follow their lead, here are some powerful financial strategies you should try. Not all will apply to you, but some will, so make sure to read them all.
1. Get a second set of 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 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.”
2. Don’t put all your eggs in one basket
One of the best ways to protect your savings is having money in different types of investments: ideally, ones that can 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.
One investment that thrives in this scenario: gold.
Keep in mind, though, that not everyone in the gold business is on the up-and-up. Be careful who you deal with.
Preserve Gold is a family-owned company committed to helping investors protect their wealth and retirement with physical precious metals. They offer gold, silver, platinum and palladium coins and bars delivered directly to your home. Plus, enjoy up to $25,000 in complimentary gold and silver, along with waived IRA storage fees for up to 5 years!
They also lead the industry in retirement account rollovers and will help to facilitate a transfer from your current custodian into a precious metals IRA.
Preserve Gold will beat any competitor’s price on gold and silver, and offers fast, free, insured shipping. And once you’re a client, they’ll buy back your metals and charge no fees.
Gold has been hitting record highs. Why not take a look right now?
3. Protect 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.
4. Escape the jaws of 25% interest
Feeling trapped by high-interest debt? It’s time to do something about it.
Imagine this: One streamlined monthly payment instead of a chaotic web of due dates. No more late fees, no more juggling deadlines, just smooth sailing with a single payment at a radically lower rate. Result? A stress-free, debt-free you!
With a credit score of 620 or higher Upgrade will lend you up to $50,000 to pay off high-interest debt, improve your home, make a major purchase or cover unexpected expenses.
And the best part? Two minutes. That’s all it takes to see if you qualify, and it won’t affect your credit score.
Ready to stop juggling debts and paying stupid amounts of interest? Click here right now and see if Upgrade can make your life better and get a bit closer to financial freedom.
5. Have this company pay off your credit card debt
Worrying about debt is probably the worst way you can spend your time, and paying interest and late fees is the worst way you can spend your money.
If you’ve got a problem, the sooner you deal with it, the better.
National Debt Relief is one of the most respected providers of debt relief in the U.S.
They’ve helped more than 500,000 people, are A+ rated by the Better Business Bureau and also are top-rated by Top Consumer Reviews, Top Ten Reviews, ConsumersAdvocate.org and ConsumerAffairs.
You simply fill out a form on the company website, then a debt coach will call you to learn more about your situation. If they can help you, they’ll set you up with an affordable plan that works for you — and give you an estimate of when you can expect to be debt-free. There’s no upfront fee and no obligation to get started.
National Debt Relief can help you with almost any unsecured debt, like credit cards, personal loans, medical bills, repossessions … even some student loan debt. Ready to start a new, happier chapter of your life?
6. Get cash back on every debit card purchase
It’s hard to keep track of all the cash-back offers out there. Let’s see, some credit cards offer cash back on certain purchases – as long as you qualify for the card in the first place. And that card might come with fees, too.
What if you just automatically got cash back every time you used your plain old debit card? That would be super easy, wouldn’t it?
That’s how it is with the Discover® Cashback Debit Checking. You earn 1% cash back on up to $3,000 in debit card purchases every single month. Also, there are no overdraft fees, no monthly account fees, no minimum opening deposit and no minimum balance required.
Another bonus: When you set up direct deposit, you’ll get paid up to two days early.
You can use more than 60,000 ATMs for free. And Discover is just as secure as any brick-and-mortar bank. Your deposits are FDIC-insured up to $250,000.
It’s time to leave your old bank behind and check out a smarter option.
7. Cut your insurance costs by $1,000
One of the best ways to find extra cash for long-term investing is by paying less for what you’re buying now. Example? Car and home insurance.
Insurance companies know you hate shopping for your home and car insurance. That’s why they’re free to raise your rates every year. And that’s exactly what they do, right?
Don’t let them get away with it. Fight back, especially since it’s so quick and easy, you can do it while watching TV. You could easily become $1,000 richer this year simply by finding similar policies at lower prices.
Shop your car insurance costs by clicking here.
Shop your home insurance by clicking here.
8. Don’t pay to fix your car
The cost of car repairs is skyrocketing. One shop told Consumer Reports that a decade ago, their average repair was $1,600. These days, the average bill is $4,000.
If you’re concerned about coming up with thousands of dollars for a repair bill, protect your investment with a CarShield auto warranty.
CarShield provides extended warranty plans of up to 24 months, and allows you to choose from at least six different plans, so you’ll only pay for the coverage you need. They cover cars up to 20 years old and offer flexible month-to-month plans so you’re not locked in for years.
CarShield has a network of thousands of ASE-certified repair shops, and they pay the repair bill. All you cover is the deductible. All their warranties include 24/7 roadside assistance and rental car benefits while your vehicle is being repaired.
ConsumerAffairs calls CarShield “a solid choice” for drivers of any age, and “particularly appealing” for those with older vehicles.
Take a minute right now and get a quote.
9. Get more money without more risk
It’s this simple: If you’ve got savings in a traditional bank savings account, you’re throwing money away.
In just a few minutes, you could move those savings to a financial technology company, like Upgrade, and earn tons more interest with no additional risk.
Upgrade’s FDIC or NCUA-insured Premier Savings account is currently offering 4.69% Annual Percentage Yield (APY)– nearly 12 times the national average . And all you have to do to earn that high rate is maintain a minimum balance of $1,000.
If you move $100,000 from a low-interest account to Upgrade’s Premier Savings, you could earn an extra $5,000 every year. No additional risk, 5 grand more: all financial decisions should be this easy.
If you’re OK with earning basically nothing, go ahead and stick with your big bank. But if you want your money to work as hard for you as you do for it, make a move. Take a few minutes right now and check out Upgrade. You’ll be a little richer for it.
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.
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Try it. You’ll be glad you did!
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