4 Money Mistakes the Super Wealthy Never Make
By Marina Benitez
Here’s the best part — you can use this knowledge, too.
Have you ever wondered why some people seem to effortlessly build wealth while the rest of us are just trying to keep up? It’s easy to think that rich people have some secret formula we don’t, but the truth is often simpler than that.
Sure, having plenty of money comes with advantages, but here’s the thing: The super wealthy have knowledge and experience/ They know exactly which financial pitfalls to avoid.
So take a page out of their book — see which money mistakes the super wealthy never make:
Mistake 1: Not Protecting Your Portfolio With Precious Metals
If the past few years have shown us anything, it’s that disruptions to the market can come out of nowhere. Between the pandemic, supply-chain issues and bear markets, a lot of people’s retirement savings felt the impact.
The wealthy are well aware of this. That’s why they’re always looking for ways to protect their portfolio from the unpredictable. For a lot of people, investing in precious metals is a way to diversify and protect their investments.
One way to do this is with a precious metals IRA through a company like American Hartford Gold. Precious metals often outperform other investments in a volatile market, and their value tends to rise with inflation, making them an effective hedge during uncertain economic times.
Opening a gold or silver IRA is easy, and you can roll over funds from existing retirement accounts. Or you can buy gold and silver directly from American Hartford Gold’s collection.
Worried you may need to sell your precious metals in the future? American Hartford Gold offers buyback commitment and will purchase your assets back from you at the highest price. Plus, American Hartford Gold has an A+ rating with the Better Business Bureau.
Want to diversify and safeguard your investments by adding gold and silver to your portfolio? It’s easy to get started here and get your free guide.
Mistake 2: Not Using a Financial Advisor. You Can Get Matched With One for Free
The super wealthy didn’t get that way by mistake. They’re smart: They know how valuable it is to get an expert’s help with their money. The professionals simply know things we don’t.
But for the rest of us, getting a financial advisor sounds expensive and tedious. That’s why we like a company called Unbiased. They’ll match you with a financial advisor in your area — for free.
No two people have the same financial situation, which is why Unbiased matches you with the best financial advisor for your specific situation, so you get an expert in the areas you need.
There’s no obligation to hire the advisor, and Unbiased screens every advisor to make sure you’re only getting matched with the best experts.
Want to get a customized financial plan? Just start here to get matched with a financial advisor for free.
Mistake 3: Not Earning Passive Real Estate Income (You Can Start With Just $1K)
Investing in real estate has always been a way the wealthy earn passive income. There’s just one problem. We can’t all afford to just go out and buy a rental property.
Luckily, a company called Arrived lets you invest in rental homes and vacation properties with a minimum investment of just $1,000. The best part? You don’t even have to be a landlord. Arrived handles all the nitty-gritty work.
The process is simple. Just sign up, then browse the available properties, like a single-family rental home in Charlotte, or a vacation rental in the Catskill Mountains. You decide how much you want to invest, then watch for property appreciation and quarterly rental income payments.
More than 540,000 people have already invested with Arrived, and it’s already paid out $3.5 million in dividends to its investors. Depending on the property and terms of the investment, investing in single-family and vacation-rental properties has historically yielded between 6% and 15% returns.
Want to start earning passive rental income? Click here to get started earning passive real estate income.
Mistake 4: Not Getting $340/Year in Cash Back on Gas and Other Things You Already Buy
Ever notice how so many rich people watch every penny like a hawk? They’ll be the first to remind you about a coupon or a rebate offer. It seems strange, but that attention to detail is a big part of why they’re successful in the first place. It’s something any of us can do by using a free cash-back app like Upside.
Upside pays you cash back when you fill up at the pump and buy other things you already need, like groceries and even meals at restaurants — frequent users earn an average of $340 per year.
Once you download and install the free app, just browse its more than 50,000 participating grocery stores, restaurants and best of all, gas stations, to find a cash-back offer near you. These are always changing, but we’ve seen up to 24 cents back per gallon.
Claim the offer you want and buy your items with your usual debit or credit card. After, check in with Upside to verify your purchase. Upside will verify your purchase and then add the cash back to your Upside account (this can take up three business days). Then you can cash out directly to your bank account, or via PayPal or gift card.
Upside pays its users $1 million each week, and the app has a 4.7 star rating from more than 250,000 reviews. Just download the free app to see how much cash back you can earn on gas, food and other things you already have to buy.
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