9 Purchases That Enable the Upper Middle Class To Get Richer
Written by
Cindy Lamothe
Edited by
Zuri Anderson
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Building wealth isn’t just about earning more — it’s about making the right decisions with the money that’s already there.
“The upper middle class has access to opportunities that go beyond traditional stock market investments, and taking advantage of them can create long-term financial security,” said Andrew Gosselin, certified public accountant (CPA), personal finance expert and senior contributor at Coupon Mister.
Below are the top expert-recommended purchases that enable the upper middle class to get richer.
Real Estate
According to Rose Jimenez, financial specialist and chief financial officer at Culture.org, real estate continues to be a cornerstone for wealth building, whether through purchasing primary residences in appreciating neighborhoods, acquiring rental properties that yield steady income or investing in commercial real estate.
“These assets typically appreciate over time and can add significant value to your wealth portfolio,” Jimenez noted.
Retirement Accounts
Contributing to retirement accounts such as 401(k) plans and IRAs to the maximum allowable limit can significantly impact long-term financial security.
“These accounts benefit from tax advantages that enhance growth potential over time,” said Jimenez.
Investing in Continuous Education
Additionally, Jimenez said investing in your own education or professional development can yield substantial returns by potentially increasing your earning power and keeping you competitive in the job market.
Similarly, setting up educational funds for children or grandchildren can ensure long-term financial stability for future generations.
Real Estate Investment Trusts (REITs)
“Real estate investment trusts (REITs) make it possible to invest in real estate without dealing with tenants, maintenance or property management,” said Gosselin.
They provide exposure to the real estate market while generating income through dividends.
“Unlike owning physical property, they’re liquid, making them easier to buy and sell without the complications of direct ownership,” he added.
Gosselin said they also offer diversification, especially for investors who want real estate in their portfolio but don’t want to handle it themselves.
Farmland Investments
Farmland investments are another way to build wealth, according to Gosselin.
“Farmland tends to hold its value, generates income, and acts as a hedge against inflation. It doesn’t move with the stock market, which makes it a good option for balancing a portfolio.”
He noted that there are investment platforms that make it easier to own a share of agricultural land without needing to buy an entire property.
“The demand for food and agricultural production keeps land valuable, and with long-term leases, investors can collect steady income,” Gosselin continued.
Vacation Properties
Vacation properties that produce rental income can be both a financial asset and a personal retreat. When managed correctly, Gosselin said they generate enough income to cover the mortgage and operating costs while also appreciating over time.
“Short-term rental markets fluctuate, but high-demand areas consistently provide strong returns,” he explained. “Choosing the right location matters, and keeping an eye on occupancy rates and property management fees is critical to ensuring profitability.”
Tax-Advantaged Accounts
According to Gosselin, tax-advantaged accounts are simple but effective. Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) provide tax benefits while helping to cover medical expenses.
“HSAs, in particular, allow funds to grow tax-free if not used immediately, making them a useful tool for long-term financial planning,” said Gosselin. “They’re underutilized by many high earners but offer another way to maximize savings while reducing taxable income.”
Peer-to-Peer Lending
Peer-to-peer lending offers another income stream by lending money directly to individuals or small businesses.
“Instead of parking cash in a low-interest savings account, investors earn returns through interest payments from borrowers,” said Gosselin.
“The risk depends on the creditworthiness of the borrower, but well-diversified lending portfolios can produce solid returns. Some platforms handle the vetting process, making it easier to manage.”
Investing in Startups
“Investing in startups through equity crowdfunding is higher risk but has the potential for high returns,” Gosselin noted. “Early-stage companies need funding, and investors who get in early can see substantial gains if the business succeeds.”
He said spreading investments across multiple startups lowers the risk of any single one failing.
“Startups operate in high-growth industries, and successful exits through acquisitions or IPOs can yield significant gains,” the expert noted.
The Bottom Line
Experts agree that wealth building is about making informed decisions with money. As Gosselin said, “Diversification, risk management and long-term planning all play a role.
“Some investments generate passive income, while others provide tax advantages or long-term appreciation. The best strategy depends on individual financial goals, but taking advantage of the right opportunities makes a difference in financial growth over time.”
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