5 Simple Steps to Turn Loss into Profit and Defeat Inflation
Are you tired of losing money every day without even realizing it? It’s time to take control of your finances and turn that loss into profit! With these 5 simple steps, you can beat inflation and grow your wealth for a better future. From high-yield savings to real estate investment, this guide will show you how to make your money work for you.
- Step 1: Open a High Yield Savings Account Open a High Yield Savings Account! This is the simplest step of all the steps. If you’re earning 0.05% on your savings account you are being robbed! With inflation eating away at your dollar every second your saving is becoming worthless every day! High Yield savings can earn you X20 times more than an average bank in interest per year! One of my favorite banks is Ally bank!
- Step 2: Open a Roth IRA Open a Roth IRA investing in a Roth IRA is a simple way to grow your wealth for retirement. Anything your investments gain is tax-free! If you’re looking to open one fidelity has some great options!
- Step 3: Open a Traditional Brokerage Account Once you max out your Roth IRA for the year and want to gain even more open a traditional brokerage account! This way you can invest more cash into your portfolio and grow your wealth even faster! Fidelity Go is a great option for both an IRA and traditional investing for a great hands-off approach!
- Step 4: Diversify into Real Estate Diversify into real estate After you fund your investment accounts you can add a different buffer to your account with real estate! I created a simple pie here to allow you to invest in real estate simple and efficiently!
- Step 5: Peer-to-Peer Lending The last step you want to take is to reach into the world of peer-to-peer lending. This will give you the best diversification so if the market has slight drops you will still constantly earn interest from these!
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