10 Amazing Ways to Build Wealth at Any AgeReading Time: 6 minutes
You don’t need to be born rich to build wealth.
In fact, most of us aren’t even born with a silver spoon in our mouths—we have to work hard for everything we get.
But that doesn’t mean we can’t still build wealth. We just have more options today than we did when our parents were young. For example, it used to be harder than it is now to find good prices on anything online. But thanks to the Internet, you can get those same comparisons in a flash—and the money saved can go toward wealth-building.
If you want to diversify your portfolio (or just get started), there are plenty of creative (and safe) ways to invest. That’s true even if you’re just starting or nearing retirement!
Use the following tools to build your wealth at any age.
1. Diversify your wealth with gold
The time is NOW to start investing in your future.
What does that mean? It means putting all your money in one place—and not letting it go anywhere else. Sure, you might want to put some of it in a savings account so you can use it for emergencies and unexpected expenses. But not all of it.
That’s where Goldco comes in: We’re the only precious metals company personally recommended by Fox News personality Sean Hannity, who says “Goldco is the one I trust.”
We also earned an A+ rating from the Better Business Bureau and an AAA rating from the Business Consumers Alliance. Satisfied customers on Trustpilot, Google Reviews, Trustlink, and ConsumerAffairs.com give us 5-star ratings. So what are you waiting for? Let’s get started today!
2. Protect your home from unexpected costly repairs
When it comes to home repairs, there are a lot of ways to get it done. But if you’re like us, you want to make sure that the job is done right—and as quickly as possible. That’s why we think having your house maintained by AFC Home Club is a great idea! We’ve been offering this service for 8 years now, and we’re still going strong.
First of all, we offer full-service protection for your home’s appliances, wiring, heating and cooling systems, electrical outlets, and more. This means that if something breaks or goes wrong in your home, our team can fix it for you—and do it fast! And second all: our service is 100% guaranteed. If anything goes wrong after we’ve started working on your system or before we finish the job (which can sometimes take less than 24 hours), then we’ll come back and fix it again free of charge.
3. Save $500 a year on car insurance
If you’ve been stuck with a high rate for auto insurance, there’s hope. You can save money by using QuoteWizard to compare rates from more than 80 providers and choose the best deal for your situation.
QuoteWizard is one of the largest online marketplaces for insurance in the United States. You simply answer some questions about yourself and your driving record, and QuoteWizard will compare prices from more than 80 insurance providers and send you the top deals. According to QuoteWizard, you’ll save up to $500 a year. Plus, it’s free to use, and it just takes two minutes to get your new rate.
Imagine what you could do with an extra $500 every year in your budget. Emergency fund? Extra payment against your mortgage? Retirement planning? It’s your call. Point is, those are dollars that are now working for you instead of for someone else.
4. Protect and secure your retirement savings
Saving for retirement is the most important financial goal you’ll ever have. But it’s easy to feel like you’re alone in your quest: Most people just don’t know where to start, and there’s no money-management expert out there waiting to help you create a workable plan.
Not anymore. SmartAsset is here to help you get started saving for retirement, and we think we can help even the most reluctant of savers get on track with their plans.
SmartAsset’s free financial adviser matching tool can help you find a trio of local fiduciaries or financial advisers who are legally required to put your best interests first. It’s quick and simple, just fill out some information about yourself and your goals, and then sit back while we do the rest!
If you’re not making much money in your starter job, that doesn’t matter as much as you think—because compound interest is your friend. The fiduciary will help you create a workable budget that lets you contribute as much as you can (while still having a life!) and will point out the best investment options for long-term growth.
And if getting started saving isn’t enough motivation for now? Well then maybe this will be: Getting a late start saving.
5. Don’t waste thousands on car breakdowns
It’s no secret that car repairs are expensive. If you don’t want to pay all that money, look into a vehicle service contract from Endurance.
The average U.S. vehicle is now 12.1 years old, which means that most of the big-ticket auto repairs happen long after the warranty has expired. Driving your car until the wheels fall off = no car payment, and more money to invest. Paying out thousands in car repairs every year = less money to invest. Fortunately, you can get great coverage for repairs with Endurance.
Endurance sells vehicle service contracts, which are similar to auto warranties. They’ll cover your ride up until it’s 20 years old with up to eight more years without a car payment—which is pretty great given that the average new car loan is over $710 a month! You can choose among six different plans; all of them include 24/7 roadside assistance and a rental car allowance as well as a free year’s worth of the Elite Benefits program (which has features like key fob replacement and complete tire coverage).
6. Pay off $30,000 in credit card debt fast
There’s a lot to be said for having a handle on your finances. But when you’re paying double-digit interest, it can be tough to build wealth.
Between 2018 and 2020, U.S. residents forked over about $120 billion annually in credit card interest and fees—that’s right: more than $20 billion every year!
Want to start earning interest, rather than paying it? Freedom Financial Network can show you the way.
Two common solutions are debt consolidation and debt relief. With consolidation, Freedom Financial combines what you owe into a single, fixed-rate loan. If your situation calls for debt relief, Freedom Financial will negotiate with your creditors to reduce what you owe. No matter which option you choose, you’ll get a thorough financial assessment and be able to get back on track financially. You’ll pay less interest overall and be able to get back on track financially.
7. Don’t overpay when you shop online
Need to get something? We all do. But we don’t need to spend more than we have to!
Capital One Shopping is a free browser tool that helps you find discounted prices on thousands of products at more than 30,000 retailers.
It doesn’t just compare the basic numbers, though. It also searches for online coupon codes and considers things like shipping costs and membership pricing when determining the top deals available for you.
Did we mention the rewards? Every time you buy through Capital One Shopping at partner retailers, you earn rewards that can be redeemed for gift cards. Talk about stretching a dollar!
8. Earn monthly income with real estate
Real estate has long been a path to wealth, but you’ve probably read that you need to be wealthy to get started. But that’s not true! For as little as $10, Fundrise can get you started on that path to potential riches—just like a stockholder buys pieces of a company.
On average, Fundrise investors earned a 25% increase within three years; if they held on for five years, that increase was more than 50%. In effect, you’re a landlord without having to do things like run background checks or serve eviction notices.
People are always going to need a place to live—and recent rent jumps make real estate investing much more profitable. Apartment prices went up almost 18% in 2021, according to data from Harvard’s Joint Center for Housing Studies.
9. Invest in famous artworks collected by the ultra-rich
The International Art World is a mysterious and intimidating place. You hear about it all the time, but you don’t really know what it’s like.
Well, we’ve got good news for you: Masterworks is here to help. Masterworks is an investment firm that brings everyday people into the exciting and potentially profitable world of art investing, right there with rich folks like Oprah Winfrey and Bill Gates. For as little as $20, you can buy a “slice” of a blue-chip artwork by well-known artists such as Picasso, Monet and Banksy.
Masterworks hold these pieces for three to seven years. If you decide to get out sooner, it’s possible to sell your slices on a secondary market—but stay with us here: Masterworks outperforms the S&P 500—returning 14% over the past 15 years. Not that you’re limited to 14%. These works can balloon in value! For example, a painting by neo-Expressionist Jean-Michel Basquiat that sold for $20900 in the 1980s went for $110487.
10. Join 1+ million Americans banking $1,000 extra every year
Do you know any other way to invest an extra $1,000 every year without having to work overtime?
You’re not alone.
It’s called the Money Talks Newsletter, and it’s free. Our more than one million subscribers report saving an average of $991.20 each year thanks to our news and advice.
The Money Talks Newsletter takes up maybe five minutes of your day. Our tips are designed to make you smarter and wealthier, not to bore you to tears.
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