Ever wonder how a millionaire becomes a millionaire? Well, some are born that way - how does it taste to have a silver spoon? Others have been lucky. But many got to that 7-figure mark by working hard and making smart financial decisions.
If you’re looking for this type of financial advice, you probably already know how to make your dreams come true. Whether it’s buying your first home, getting a big promotion, or optimizing your 401(k), you know what it feels like to set a financial goal and achieve it. Becoming a millionaire does not differ from those other goals. You can approach it the same way: just take it step by step and make smart decisions.
To make your path to a million dollars easier, we’ll share with you some simple lessons from the millionaires who came before you.
1. Earn passive income by investing in real estate
Imagine getting a check in the mail every few months for simply keeping a little money in an account. Sounds incredible, right?
With Fundrise, an investment of as little as $10 can start earning your passive income through quarterly distributions. You’ll be able to invest in the best real estate deals without having to worry about the hassles of being a landlord.
It takes less than a minute to create an account using your email address and password, and you don’t have to invest a dime until you’re sure the service is right for you. Be sure to confirm your account by clicking on the link in the email they send you.
There is risk involved in investing. Fundrise has paid distributions every quarter since at least the second quarter of 2016, but your payment is never guaranteed.
For the service, you will pay an annual asset management fee of 0.85% and an annual investment advisory fee of 0.15%.
2. Cancel your auto insurance
We have some bad news. You could waste $500 a year on second-rate, overpriced auto insurance. And you should probably cancel your current insurance now, because there’s something much better out there.
This new tool from Finance buzz can tell you if you’re paying too much for car insurance with just a few clicks. On average, we find about $500 in savings per year for drivers. And once you try it, you’ll never have to search for affordable insurance again because we find you the lowest rates that other companies can’t match.
Oh, and it’s free too. And come on - you can’t tell us you don’t want to save up to $500. To find out if you’re losing up to $500 or more a year, just enter your zip code here, answer a few questions, and see if you’re paying too much. It takes less than 2 minutes.
3. Don’t overpay when you shop online
Online shopping has its advantages. It’s very convenient, but it can be time-consuming to find the best deals. Instead of searching for discount codes (which don’t always work!) and opening tons of browser tabs to compare prices, you can try Capital One Shopping.
Capital One Shopping allows you to save money effortlessly. Just add the browser extension and, when you check out, it searches the Internet for discount codes to help you save money. And before you check out at your favorite stores like Amazon, Target and many others, Capital One Shopping will inform you via a pop-up if the item you’re buying is available for less elsewhere.
Capital One Shopping is free and doesn’t show your ads. Add it today and stop overpaying!
4. Invest in art that has outperformed the S&P by over 180%.
History has shown that art is one of the best investments of all time. In fact, over the past two decades, art has outperformed the S&P by over 180% between 2000 and 2018.
But while the wealthiest people are reaping huge profits, ordinary people are being left behind. Masterworks is an exclusive platform that allows investors of all types to add art to their portfolios with just a few clicks.
It allows you to buy individual shares of famous works by artists such as Warhol, Banksy and Basquiat, like shares in a company. You get paid when the painting sells, or you can trade your shares with other members in their secondary market.
While Masterworks requires a minimum account of $5,000 to get started, you can build a healthy portfolio of masterpieces with the help of their art experts.
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5. Access up to 17.5% of your home’s value without additional debt
Taking money out of your home can help you pay off debt or fund renovations. But depending on how you do it, you can also take on more debt and increase your monthly payments or interest.
Unison is a new way to free up money in your home without taking on more debt. You can get cash from the current value of your home by working with Unison, which receives a share of your home’s potential appreciation in the future. And there’s no additional debt.
Enter your address here and see if your home qualifies. They’ll tell you the estimated maximum amount you can access, usually up to 17.5% of your home’s value. If your application is accepted, you can get funds in as little as three days, after you sign the offer letter and closing package1.
6. Prepare for market volatility by diversifying your gold investments
Stock market volatility can be financially damaging, especially as you approach retirement. You could move your investments to a savings account, but have you seen the interest rates lately? Another option to consider - diversify with gold.
We inversely correlated the value of gold to the stock market and the dollar. When one goes down, the other usually goes up. If you want to protect your retirement funds, diversified investments can help you withstand market fluctuations.
Gold Alliance is a reputable precious metals dealer specializing in precious metals IRAs. They make it easy for you to transfer funds from your current retirement account (such as a 401(k) or IRA) to a precious metals IRA, tax and penalty free.
Gold Alliance offers a free Gold Information Kit to help you better understand why gold and silver can be a smart choice to diversify your portfolio, and how the process works.
7. Pay off your debts of $10,000 or more
If you have a lot of debt, you may feel stressed (and almost impossible) to get out of it. The problem is that the longer you delay tackling it, the harder it becomes. If you don’t take control of your debt early on, it can add undue stress to your life for years. What if there was a way to get rid of debt once and for all?
National debt relief could help. If you have more than $10,000 in debt from credit cards, medical bills, collections, or personal loans, their representatives may help you merge your debts into one low monthly payment.
Best of all? There are no fees until your debt is resolved, and you could be debt-free in 24 to 48 months. To get started, just answer a few simple questions. It only takes 30 seconds to see if you qualify!
8. See how much money you can get back from this account.
We hate to tell you this, really. But if you’re not using the Aspiration debit card, you’re losing extra money on every purchase you make. But don’t worry... it’s easy to fix.
There’s a debit card from a company called Aspiration that gives you up to 10% cash back every time you swipe your card. Like when you...
Buy clothes? Yep... Cash back.
Go to the pharmacy? Hm. Reimbursement.
Shopping for the week? Yes, cash back!
It’s so easy. Who doesn’t want some extra cash? To see how much you can earn, just enter your email address and link your bank account3. By the way, Aspiration is free, military-grade security protects your money, and your deposits won’t fund fossil fuels.
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9. Eliminate your tax debt
Every year, the IRS forgives millions in unpaid taxes. If you owe more than $10,000 in taxes or have over three years of unpaid taxes, you may also be eligible for forgiveness. You may reduce the amount you owe or eliminate your tax debt completely.
Tax Defense Network can help you reduce or eliminate your tax debt for good. This company is highly respected in the industry, has an A+ rating from the BBB, and has been recognized for its ethical standards for tax debt.
To find out if you qualify for relief, click here and sign up for a free consultation. Through their unique process and direct hearing with the IRS, they can help you resolve your tax debt that you may not have known about. And without the high costs of other tax relief providers.
10. Ditch your mortgage lender
Yes, we said it. If you want to save a lot of money next month - $100, $200 or $500 - get rid of your current mortgage now.
Our new tool will help you compare mortgage offers and rates and could help you simplify refinancing your loan. That means you could lower your interest rate, lower your monthly mortgage payments and even build equity in your home faster... all to save money and free up space in your budget.
You may even take advantage of a cash-out refinance to realize significant savings. The money could help you eliminate your high-interest debt for good. Or you could take advantage of that potentially lucrative investment opportunity you now have the money for. The possibilities are endless, but you’d be crazy not to see how much you can get just by refinancing.
11. Pay no interest until April 2023
Imagine enjoying 15 billing cycles with 0% interest on a balance transfer or large purchase. You could transform your financial situation with this industry-leading low-interest card, the Bank of America® Customized Cash Rewards credit card.
If you want to get rid of your high-interest credit card debt, this is one of the best debt relief cards available. Transfer your high-interest debt to this card with a 0% APR for 15 billing cycles (on balance transfers made within the first 60 days) on balance transfers ($10 transfer fee or 3%, whichever is greater). Your payments can go directly to paying off your balance without incurring a pile of extra fees. This could save you hundreds of dollars in interest!
But it’s not just balance transfers. Cardholders also enjoy a generous 0% APR for 15 billing cycles on purchases. After the introductory period for purchases and balance transfers, the APR is 13.99% to 23.99% (variable).
Plus, new cardholders can enjoy a onetime cash bonus - earn a $200 bonus of online cash rewards after spending $1,000 within the first 90 days of account opening. Use your card only for essential purchases at the gas station or grocery store, and you can easily meet the spending requirement.
Add to that the fact that this card offers 3% cash back in the category of your choice; 2% cash back at grocery stores and wholesale clubs (on the first $2,500 spent each quarter in the 2% and 3% categories combined); and 1% cash back on all other purchases, and you’ve got one of the best cash back cards on the market - tailored to the way you spend!
And the best part? There’s no annual fee.
