9 Super-Simple Ways to Build Wealth in 2022 – Money Talks News
To paraphrase William Shakespeare, some people are born wealthy and others achieve wealth. If you weren’t lucky enough to be in the first group, then it’s time to get going on your self-made fortune.
Think that can’t happen? You’re wrong. Pathways to wealth are everywhere. Why shouldn’t you take them?
Some of these smart choices will save you money upfront. Next, use that money to make more money through strategies like fractional investing and online wealth management.
Want to put yourself on the road to riches? These tactics can help.
1. Stop worrying about expensive household breakdowns
For most of us, our home is our most valuable asset. We put a lot of money down to buy it and pay a lot of money each month to keep it. Sometimes we’re stretched pretty thin financially, so when things break down it can be tough to cover the fixes.
The heating/cooling system grinds to a halt. A major appliance gives up the ghost. And why are the lights flickering — could it be the electrical panel?
What you need is a full-time maintenance person.
The next best thing? A home warranty from America’s 1st Choice Home Club. You can choose from among several coverage plans that cover issues with appliances, plumbing, heating, electrical systems and more. You can use your own technician or let America’s 1st Choice send someone over.
A breakdown happens in the middle of the night? Doesn’t matter. The in-house service team is available 24/7.
All this starting for as little as $390 a year.
Homeownership is great. But when things go wrong — and they will! — we can no longer call the landlord. We are the landlord, and we might go into debt just to keep things running smoothly.
Stop worrying about household breakdowns, and the high costs that come with them. Get a free quote in 30 seconds.
2. Add $1.7 million extra to your retirement
A recent Vanguard study indicated that a self-managed $500,000 investment would grow into $1.69 million in 25 years, on average. Sounds pretty good, huh?
However, with professional help, that same $500,000 would have turned into $3.4 million. In other words, a quality financial adviser could double your retirement nest egg!
At least talk to a pro, especially when finding one is free and easy. SmartAsset is a free service that will match you with a qualified money manager who can help you put your money where it will do you the most good.
Bank interest rates don’t beat inflation, so the value of your savings erodes over time. Stocks and other investments have historically beaten …….