I’m a Self-Made Millionaire: These Are the Top 4 Strategies I Use To Safeguard My Wealth
Written by
Laura Bogart
Edited by
Kristen Mae
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Stuck in poverty and confronting homelessness, Jesse Frimpong realized that nobody was coming to save him; he was responsible for getting himself out of his situation. His interest in e-commerce proved to be his ticket out. He established a wildly successful Shopify business and became CEO of Prestige Automation. Now a seven-figure earner, he entered a new phase in his personal and financial growth — learning to safeguard his hard-earned wealth.
As a student of finance and an entrepreneur, Frimpong relied on several tried-and-true strategies to help him protect his earnings. By putting his money into key accounts and applying some commonsense money management strategies, he’s shielded his earnings and even helped them grow for the future.
Using a High-Yield Savings Account
Frimpong doesn’t just store his money anywhere. He chooses a high-yield savings account for its liquidity, security, and ability to earn interest on his deposits. As a business owner, he wants to be able to easily access his cash.
“I always tell people that cash is oxygen for your business and personal life,” he said. “You need a safe place where money grows a little while still being accessible.”
Leaning on Retirement and Investment Accounts
When thinking about how to best protect his money, Frimpong focuses on the strategic advantages of retirement and investment accounts.
“Retirement accounts like IRAs and 401(k)s are powerful because of the tax advantages,” he said. “Investment accounts allow you to actively build wealth in ways that outpace inflation, which is critical if you want financial security.”
Diversification as Wealth Protection
Remember that old saying about putting all your eggs into one basket? Yeah, if the basket falls, those eggs will break. It’s certainly not what Frimpong wants to see for his own sizable nest egg, so he’s adopted a diversified investing strategy with a mix of brokerage accounts, real estate, and alternative investments.
“One of the biggest mistakes I see people make is putting all their money into one thing, whether it’s stocks, crypto, or even their business,” he said. “Diversification is protection.”
To insulate his wealth from the ups and downs that can come with investing, he’s built a carefully calibrated portfolio with investments of varying risk profiles intended to balance each other out. With real estate, he’s seen steady cash flow and appreciation. Through brokerage accounts, he’s gotten access to equities, index funds, and other vehicles that can compound over decades. Alternative investments like digital assets and private ventures give him the potential for high returns.
A Layered Approach for Long-Term Security
Frimpong hustled hard to make his first seven figures. But he wasn’t only focused on earning that initial million dollars; he also wanted to ensure that it would last long-term. “The goal is not just making money, but keeping it,” he said.
To keep his money safe — and keep the momentum of growing it — he sees all his strategies as part of a broader, blended approach that gives him a sense of security. His high-yield savings and retirement accounts provide a solid financial foundation, tax advantages, and steady growth. Real estate investments deliver reliable cash flow, brokerage accounts offer long-term compounding, and alternative investments present upside potential. When one sector is down, the others give him that protective balance.
“This layered approach minimizes my downside and gives me peace of mind that no single event can wipe me out,” he said. “Ultimately, diversification is how you protect your family and future while still growing your wealth aggressively.”
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