9 Ways to Increase Your Wealth at Any Age

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The truth is, most of us aren’t born wealthy. Even so, it’s also true that even if we didn’t inherit millions of dollars, we might still take a couple of steps to build our wealth.

There are way more many options out there than before. Now, we can easily get price comparisons in a second, because of the Internet, and the money we’ll save by doing that automatically goes into our savings account.

If you’re also looking to diversify your portfolio, there are so many creative and safe ways to invest! And the best part is…you can try them whether you’re just starting out in life or getting closer to retirement. Here’s what you need to know:

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Diversify your wealth with gold

Did you know that putting all your money in only one place, whether it’s stocks, bonds, crypto, or whatever, is definitely a recipe for LOSING your wealth? You’re not building anything.

When it comes to building wealth, you need to focus on diversity, because THAT’s the key to financial security. For example, gold is a very important ingredient for modern electronics, which is basically in the top 5 secure industries.

Silver, too, so why wouldn’t you consider this incredible tip? Paper currency is extremely regulated by law, and there’s always the possibility of more money getting printed without any true backing.

However, ever since humans discovered how to turn shiny rocks into extremely valuable commodities, these precious metals are the common language of worldwide value.

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Protect your home from unexpected costly repairs

Home repairs sure cost a lot. Whether we’re talking about a leaky roof or just a broken appliance, your home might rapidly become a nightmare and cost you thousands of dollars to fix.

However, there are many companies in America that will surely help you safeguard yourself from giant repair bills. From the tiniest home appliances to electrical, plumbing, heating, and cooling systems, everything can be protected.

These services also have in-house service teams that are usually available 24/7, to help and guide you through a hassle-free repair process if anything doesn’t go according to the plan. You might even choose your own technician, or you can ask for their opinion if you don’t know anyone.

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Save $500 a year on your car insurance

I think we can all agree on the fact that auto insurance is very important. But do you know what isn’t? Paying way too much for coverage. However, you can always google more about different comparison sites, which will help you get the best deal in just a couple of minutes.

On these websites, you simply answer a couple of questions about yourself (the questions are subject-related), but also your driving record, and then you let their search engines do their “charm”.

You’ll get to compare prices from over 80 insurance providers, choosing the top deals. By doing this, you can save up to as much as $500 a year. Also, these websites are totally free to use, and they won’t require more than a couple of minutes, once you know how to navigate them.

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Protect your retirement savings

Pensions aren’t all that common these days, and nobody can actually live comfortably on Social Security payments alone. When it comes to retirement planning, you have to figure it out on your own.

If you don’t know where to start, consider using a free financial adviser matching tool. By using this tool, you’ll get matched in just a couple of minutes with the most relevant local fiduciaries, but also with financial advisers who will put your best interests first.

If you just got yourself a starter job and you’re not making too much, maybe you could try befriending the idea of compound interest. The fiduciary will definitely help you create the ideal budget that will allow you to contribute on your own terms but will also point out the best investment options.

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Make sure you don’t waste too much money on car breakdowns

When it comes to Americans, we are ALL trying to hang on to our cars as long as possible. In fact, the average U.S. vehicle is 12.1 years old. The problem with this “national habit” so to speak is that most of the big-ticket auto repairs usually occur after the warranty expired. So driving your car until the wheels start falling off equals no car payment and more money for you to invest.

On the other hand, paying out thousands of dollars in car repairs every single year equals LESS money for you to invest. That’s when you need to consider looking for GOOD coverage for future repairs.

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Pay off $30,000 in credit card debt quickly

It’s ain’t easy to build wealth when you’re forced to pay double-digit interest. It gets even worse: between 2018 and 2020, Americans had to fork over around $120 billion a year in credit card interest and fees.

If you finally want to start EARNING interest, then you should start with two of the most important solutions: debt consolidation, and debt relief.

With debt consolidation, you have combined everything you still owe into a single, fixed-rate loan. If your case requires debt relief, then you need to contact a financial consultant that will firmly negotiate with your creditors to reduce a bit from what you owe.

No matter what you decide upon, you will end up with a serious financial assessment and a personalized plan, and soon you’ll be able to get back on track.

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Don’t overpay when you’re shopping online

We all consume. A LOT, in fact. So when it comes to spending money, we need to find brand new ways to stop overspending on different stuff we don’t even need.

Have you ever tried using a free browser tool that will help you find discounted prices from over 30,000 retailers? Usually, these browsers do way more than simply compare the numbers.

They also search for all kinds of online coupon codes and calculate shopping costs and membership pricing when deciding what are the best deals for you.

Of course, we should also mention the rewards! Generally with these browser tools, when purchasing anything through their platform, there are various rewards that you can get, in the form of gift cards.

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Earn monthly income with real estate

Real estate is a good old path to wealth. But isn’t it a bit tricky, given the fact that you need to BE WEALTHY in order to get started? Well, not anymore.

Now, you can buy bits of real estate properties for as little as $10, just the way stockholders buy pieces of companies. Usually, investors who tried this earned a 25% increase in only three years.

If they held the investment for five years, the increase was over 50%. Basically, you can be a landlord without having to do any of the usual things, like running background checks or even serving eviction notices.

People will always need a place to live, and only recently rent jumps made real estate investing SO profitable!

Try investing in artworks collected by the ultra-rich

When it comes to investing in art, you don’t really need millions of dollars to invest. You can buy artwork through a company that does just that.

There are many companies out there that are committed to bringing everyday people into the profitable world of art investing. You can buy a “slice” of Picasso, Monet, or even Banksy, for as little as $20!

If you enjoyed reading this article, you might also want to try: 8 Legit Ways To Get Free Money From The Government

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