How do the rich get richer? They use tried and true methods passed down over generations, and usually kept among themselves.
But every now and then, the beans get spilled.
Here are some money secrets the rich take advantage of, and now, you can too. The best part? Most of these ideas you can check out in about the time it takes to read them.
1. Get a second opinion
The rich know there comes a time in life when it makes sense to get a second opinion.
You should know that, too.
Maybe you’ve been great at growing and managing your savings without help. But the more you have, the more attention your savings require and the more you lose by screwing up.
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 professional.
This is why most millionaires rely on pros to make them richer. Obviously, there are no guarantees a professional will do better than you. But getting a second opinion from a pro certainly can’t hurt.
Even if you don’t need help picking investments, they can help you create a plan, maximize your Social Security, protect your assets and offer you peace of mind by ensuring you’re on the right track.
They can also be there in case one day you’re not.
These days, there are no-cost online services that make it easier than ever to find vetted financial advisers in your area. For example, SmartAsset. You fill out a short questionnaire and are instantly matched with up to three local fiduciary financial advisers, all legally bound to work in your best interests.
The process only takes a few minutes, and in many cases you’ll be offered a free consultation.
Nothing to lose, lots to potentially gain. If you have $100,000 or more in savings, Take a minute and check it out right now.
Please carefully review the methodologies employed in the Vanguard white paper, “Putting a Value on your Value: Quantifying Vanguard Advisor’s Alpha.”
2. Safeguard your assets with gold
If you’ve got part of your savings in stocks or mutual funds — and you should — you’re well aware that what goes up can also go down; sometimes by a lot.
You can’t control the stock market or the world economy. But you can protect against uncertainty by having other forms of wealth.
One of the oldest and most common ways to diversify is with gold. It’s been used for thousands of years to protect against everything from inflation to currency devaluation to political risk.
Don’t go overboard; even millionaires typically only put about 10% of their long-term savings into the King Midas metal.
Also keep in mind that not everyone in the gold business is on the up-and-up. Be careful whom you deal with.
Goldco is one company to consider. They offer just about everything, from precious metal IRAs to direct purchases of precious metal coins and bars.
Goldco has been around for more than a decade and has been recommended by celebrities like actor Chuck Norris and even former presidential candidate Ron Paul.
They have an A+ BBB Rating, AAA Rating from Business Consumers Alliance and 4.8 to 5 stars on Trustpilot, Trustlink, Google Reviews and Consumer Affairs.
You’ll even receive up to $10,000 in free silver on qualified purchases.
Maybe gold is right for you; maybe it isn’t. But if you’ve ever wondered, why not take a quick look? Click here right now and get your free information kit.
3. Plan now for medical costs Medicare won’t cover
The rich don’t take chances with their health.
Neither should you.
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.
Plan now for a secure tomorrow. Get your fast, free quote today.
4. Don’t let home repairs drain your savings
Home repairs aren’t cheap. Whether it’s a leaky roof or a broken appliance, your home can quickly become a nightmare and cost you hundreds or even thousands of dollars to fix.
But you don’t have to worry. Luckily, with a company called America’s 1st Choice Home Club, you can safeguard yourself against giant repair bills. From home appliances to electrical, plumbing, heating and cooling systems, it can all be protected.
Plus, their in-house service team is available 24/7 to help and ensure a hassle-free repair process if anything goes wrong. You can even choose your own technician, or they can send you one from their nationwide network if you don’t have someone in mind.
All over America, homeowners are choosing AFC Home Club for the savings, service and peace of mind that it delivers.
Stop worrying about household breakdowns, and get a free quote in 30 seconds.
5. Protect yourself and your loved ones
There’s nothing you wouldn’t do for your family, right? No matter what.
Not everybody needs life insurance. If your kids are grown, and you have nice, fat bank account, there’s really no need.
But if your family would have a hard time getting along without you, life insurance is definitely something you should look into. Just don’t pay too much for it by buying the wrong kind, or buying from a commissioned salesperson.
The right kind of life insurance for most people is term, and the right place to buy it is a company called Haven Life Insurance. They work with Mass Mutual, one of the country’s oldest insurers.
A $250,000, 20-year Haven Term policy starts at just $14.99/mo. That’s less than many people pay for coffee.
Two birds with one stone: You take care of your family at the lowest possible price, and you achieve peace of mind in the process.
If you’re under age 60, why not at least check it out? You can do it in less than a minute, and they don’t ask for your personal info. Click here right now for a quick, free quote from Haven Life.
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