6 surprisingly easy ways to become a millionaire
The easiest way to be a millionaire is to be born into money. Since most of us haven’t had that luxury, we have to make a living – and our own millions.
Impossible ? This is not the case.
The average person has a good chance of winning that mythical million, or several mythical millions. It’s actually quite simple.
First, observe proven financial practices, such as “never spend more than you earn” and “invest regularly and wisely”.
Then combine these old-school tactics with modern financial marvels, such as online financial advice and split investing.
Just because you weren’t born rich doesn’t mean you’ll never be rich. Get your millions the old-fashioned way: by combining hard work with smart choices. The following strategies can help you.
1. Invest in iconic paintings by Banksy, Warhol and Basquiat
Investing in the fine arts was once the preserve of the wealthy. Today, a company called Masterworks enables ordinary people to be part of the global art market.
For as little as $20 per share (“slice”) plus fees, you can own a piece of a prime work of art. It’s like how you can own a piece of Apple or Amazon: by buying an amount you can afford.
Like stocks, art will not necessarily rise in value and stay there; past performance does not imply future results. Yet when it appreciates, the returns can be surprising. Here are some examples from a November 2021 auction in New York:
- Still life by Claude Monet: Bought for $6.7 million in the late 1990s, sold for $50.8 million
- Mobile by Alexander Calder: Bought for $1 million in the early 2000s, sold for $16.9 million
- Portrait of a child by Tamara de Lempicka: Bought for $2.9 million in 2009, sold for $7.8 million
Want to buy a slice of art history and get closer to your first million? Request your invitation to join now.
2. Refinance and save thousands of dollars a year
The more you invest, the faster you could reach millionaire status. Wouldn’t it be great if you could put thousands of extra dollars each year toward your financial goal? The extra money and compound interest would definitely speed up your progress.
Where could you find a few extra thousand a year? You live there: A home mortgage refinance could save you up to $3,000 a year in interest.
Sounds like a lot of work? Don’t worry: A digital lender called Better has streamlined the entire online application process, so you can get pre-approved in just three minutes and close up to 10 days faster than average. Plus, there are no commissions or lender fees, and they even offer 24/7 support to make sure everything runs smoothly.
Imagine sending thousands more a year to your own financial dreams, rather than to your current lender’s pocket. Get your new personalized rate and see how much you can save.
3. Add $1.7 million by hiring an advisor
Let’s face it: most of us are not financial experts. And it shows.
A recent study by Vanguard indicates that on average, a self-directed investment of $500,000 will grow to $1.69 million in 25 years. Not bad huh ?
Except that the same money, in the custody of an advisor, would turn into $3.4 million. That’s 50% and $1.7 million more!
If you’re going alone, at least consider talking to a pro. Fortunately, finding the right one for you has never been easier.
A free matching service called SmartAsset can match you with an advisor who can grow your money both smarter and Stronger. You complete a short questionnaire and are instantly connected to up to three local fiduciary financial advisors, all legally bound to work in your best interests.
Of course, there’s no guarantee that a professional will do better than you, but with so much at stake, it would be crazy not to at least check it out. The process only takes a few minutes, and in many cases, you’ll be immediately connected with an expert for a free retirement consultation.
Want to bridge the gap between “getting by” and “getting paid”? Find your advisor match today.
4. Create wealth with real estate
People will always need a place to live, which can make real estate a pretty solid choice to invest in. But maybe you think that’s beyond your reach since you don’t have a few hundred thousand dollars lying around.
How about $10? Could you swing $10? That’s all you need to get started with a real estate investment platform called Fundrise.
Just as you can get part of a business through stocks, you can buy commercial real estate with Fundrise. Real estate investing can not only increase your net worth, but it also helps diversify it – and diversification is another smart money move for all would-be millionaires.
House prices (even small condominiums) have gone crazy in recent years. Again, although past performance is not a guarantee, the average Fundrise participant has seen their investment grow by 25% in three years and over 50% in five years.
If you’re ready to join over 170,000 active real estate investors with over $124 million in net dividends, enter your email address to get started.
5. Crush your debt with this company
As they say, the poor pay interest and the rich earn it. If you have consumer debt, every dollar you pay in interest is a dollar that cannot be invested to become a millionaire.
Don’t keep throwing good money after bad. Get help from the professionals at Freedom Financial Network.
A free initial consultation will determine what is best for your particular situation, such as a balance consolidation loan or a debt management program. Freedom Financial also offers free credit counseling, which can reduce your current financial stress while helping you develop stronger financial habits for the future.
Some people land in the hole because of bad financial decisions, sometimes based on a lack of financial education. Others find themselves in debt due to circumstances beyond their control: illness, unemployment, divorce.
How you got there doesn’t matter. What matters is how quickly you can get out. Let Freedom Financial help you settle your debt today.
6. Invest smarter with this robo-advisor
Again: investing is the key to creating wealth. But maybe you’re too busy to meet with an investment advisor, or wondering if you can afford to invest (and pay for investment advice).
No problem. An app called Public supports you. You can start with as little as $1 – and you won’t pay a penny in fees.
The public offers “split investments,” meaning small slices of companies, funds, or crypto assets. The app, which the creators call a “social investment platform,” offers thousands of stocks and exchange-traded funds (ETFs).
When you sign up, you tell the app your investment experience and set your investment goals. Nine out of 10 public users invest primarily for the long term, according to the company.
It costs you nothing to join Public, and as mentioned, there are no fees (although it is possible to tip a transaction). Got a dollar and a dream? Download the app now.
Bonus: Be smarter with your money in just five minutes
You get it. It’s time to put money aside, to save more, to put your finances in order.
But you also understand that it is not always easy. If there was one easy thing to do, every day, to move the needle, to get ahead of the game, you would do it, right?
Well, here it is: Take five minutes every day and check out the totally free Money Talks newsletter. Over a million Americans have done so, and they said they saved an average of $991.20 each by viewing our news and tips.
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