5 Simple Steps To Grow Your Wealth
I constantly see people not realizing they are losing money every day! They go on with their lives drinking the same coffee going to the same stores and not realizing that every day that dollar in their hand is worthless than it was yesterday. I got sick of people missing out on a few simple steps that they could take to turn this loss into fortune so I created this simple 5 step course to turn a loss into simple profit!
- Open a High Yield Savings Account! This is the simplest step of all the steps. If your 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!
- 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 looking to open one fidelity have some great options!
- 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 given 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!
- 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!
- The last step you want to take is to reach into the world of peer-to-peer lending this will give your the best diversification so if the market has slight drops you will still constantly earn interest from these!
If you follow all of these steps above you will be well on your way to defeating inflation and even setting yourself up for a nice retirement in the end!