Author: Moneywise

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

If you’re planning on putting your feet up by the coast and sipping margaritas in your golden years, make sure you’ve got the funds for it. These days, even a seven-figure net worth may not be enough to pay for the retirement of your dreams.

More than a third of millionaires say it “will take a miracle” to retire securely, according to a survey from Natixis Investment Managers.

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• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

About 58% expect they’ll have to keep working longer, while 36% worry that retirement may not even be an option.

But it’s never too late to get your retirement savings in fighting form with these three steps to catch up on saving and help secure your retirement.

Start by paying down your debt

Before you bolster your retirement savings you’ll want to get any debt cleared.

Paying down your debt can open the door to the lifelong contributions needed to achieve your financial goals and secure your retirement. However, this can take up a lot of time, which can cut into your ceiling of life-time savings.

With home values higher than ever, you can make your home work harder for you by making the most of your equity. The average homeowner sits on roughly $311,000 in equity as of the third quarter of 2024, according to CoreLogic.

Rates on HELOCs and home equity loans are typically lower than APRs on credit cards and personal loans, making it an appealing option for homeowners with substantial equity.

Unlock great low rates in minutes by shopping around. You can compare real loan rates offered by different lenders side-by-side through LendingTree.

Just answer a few simple questions, and LendingTree will match you with up to 5 lenders with low rates today. Terms and Conditions apply.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Find an advisor to get expert financial advice

When it comes to retirement it’s important to remember that you don’t have to do it all on your own. Setting yourself up for your golden years is already nerve-racking enough — especially with rising market uncertainty and recession fears.

One option to help you sleep better is to work with an advisor to maximize your contributions to tax-advantaged accounts such as IRAs and 401(k)s.

For example, a Roth IRA can help you reduce your tax burden during retirement, as withdrawals are tax-free. It can also help you avoid panic selling — especially under volatile economic conditions — as you can only withdraw from a Roth IRA if it has been open for at least five years.

If you’re unsure about where to begin, it might be time to find a financial advisor who can help you make the most of your money.

RothIRA.org is an online platform that connects you with vetted financial advisors suited to your unique needs and eliminates the legwork of shopping around for a suitable adviser.

Most advisor matching services pair you purely based on your net worth and location. But RothIRA.org takes a personalized approach where you also describe your unique needs.

All you have to do is provide some information about yourself and your finances, and you’ll be matched with 2 to 3 FINRA/SEC-registered advisors near you. Once you select one you like you can set you up a free, no-obligation call.

Ramp up and earn passive income

Creating a diversified portfolio with assets that traditionally fare well over economic cycles is a great way to boost your retirement fund.

Real estate is known to yield steady returns while diversifying your portfolio. However, investing in real estate as an asset class has been out of reach for the average investor.

New investing platforms are making it easier than ever to tap into the real estate market.

For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors.

With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

With risk-adjusted internal returns ranging from 12% to 18%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

If you’re not an accredited investor, crowdfunding platforms like Arrived allows you to enter the real estate market for as little as $100.

Arrived offers you access to shares of SEC-qualified investments in rental homes and vacation rentals, curated and vetted for their appreciation and income potential.

Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level. Their flexible investment amounts and simplified process allows accredited and non-accredited investors to take advantage of this inflation-hedging asset class without any extra work on your part.

And then there’s commercial real estate. For years, direct access to the $22.5 trillion commercial real estate sector has been limited to a select group of elite investors — until now.

First National Realty Partners (FNRP) allows accredited investors to diversify their portfolio through grocery-anchored commercial properties, without taking on the responsibilities of being a landlord.

With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

The 39th annual Forbes billionaire list is out, and it’s a jaw-dropper.

The number of billionaires has surged to 3,028, a record for the list. Together, these individuals hold a staggering $16.1 trillion, up $2 trillion from last year.

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• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

The wealthiest are led by Elon Musk, with $342 billion, followed by Mark Zuckerberg at $216 billion, and Jeff Bezos at $215 billion. Rounding out the top 10 are heavyweights like Warren Buffett, Larry Ellison and Bernard Arnault.

In short, the billionaire game is booming. Want in on the action? You might want to take notes from the world’s richest.

‘It’s a great time to be a billionaire’

According to Forbes senior editor Chase Peterson-Withorn, the rise in billionaire wealth isn’t just about tech giants and luxury brands; it’s about how much power these individuals hold.

“It’s a great time to be a billionaire,” Peterson-Withorn recently told NPR’s Morning Edition.

This year, 288 new names have joined the ranks of the world’s billionaires. Among them are celebrities like Bruce Springsteen ($1.2B), Arnold Schwarzenegger ($1.1B), and Jerry Seinfeld ($1.1B).

But not every billionaire had a good year. Over 100 names dropped off the 2024 list, no longer rich enough to make the cut. Some notable exits include Lisa Su, CEO of semiconductor giant AMD, Sara Liu, co-founder of server company Supermicro and Nicholas Puech, heir to the Hermès luxury brand, who says his fortune has disappeared.

How to invest like a billionaire

You don’t need unlimited wealth to invest like a billionaire. The ultra-wealthy use strategy, smart decisions and balancing risk and reward to get ahead. Here’s how you can do the same.

Diversify across asset classes

Ultra-high-net individuals spread their wealth across everything from stocks and real estate to private equity and bonds; in other words, diversifying is key. This reduces risk while increasing the chances for steady, long-term growth. For regular investors, diversifying with exchange-traded funds (ETFs) or mutual funds covering domestic and international markets is a good start. And don’t forget bonds for stability during market ups and downs.

If you’re not sure whether your portfolio is diversified enough to weather rocky times in the markets, it’s worth it to connect with a financial advisor who can help you see the bigger picture. Investing like a billionaire means bringing in expert advice to help you grow your wealth. With Advisor.com, you can find a vetted financial advisor in minutes.

Just answer a few quick questions about yourself and your finances and the platform will match you with an experienced financial advisor best suited to help you develop a plan to achieve your homeownership or retirement goals.

You can view their profile, read past client reviews, and schedule an initial consultation for free with no obligation to hire.

Consider real estate investing

Real estate is another billionaire favorite. While they may invest in expensive commercial or luxury residential properties, you can get in the game for as little as $100 with Arrived.

Arrived’s easy-to-use platform offers SEC-qualified investments such as rental homes and vacation rentals that can up your investing game.

They’re backed by list-topping billionaire Jeff Bezos, and as of April 2025, have paid out more than $12 million in dividends to 740,000+ registered investors.

Arrived’s flexible investment amounts and simplified process allows accredited and non-accredited investors to take advantage of this inflation-hedging asset class without taking on any responsibilities as a landlord.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Keep a long-term mindset

The super wealthy don’t chase trends — they think decades ahead. Want to build wealth? Max out contributions to retirement accounts like 401(k)s and IRAs. These tax-advantaged accounts let your money compound over time.

You may feel that you don’t have the funds to make investing a regular habit, but you don’t always have to put away large sums to move forward with your financial goals. Ten dollars a week could make a difference — if you’re smart about what you do with your spare change.

When you make a purchase on your credit or debit card, Acorns automatically rounds up the price to the nearest dollar and places the excess — the coins that would wind up in your pocket if you were paying cash — into a smart investment portfolio.

Let’s say you purchase a doughnut for $2.30. Before you’re done licking the sugar off your fingers, Acorns will round the amount to $3.00 and invest the 70-cent difference for you. Look at this math: $2.50 worth of daily round-ups add up to $900 per year — and that’s before your savings earn money in the market.

Plus, if you sign up now, you can get a $20 bonus investment.

Manage your risk

While billionaires love high returns, they’re pros at managing risk, and you can do the same by building an emergency fund. Having liquid cash in your account ensures you’re not forced to sell investments during a market slump. A simple buffer can keep you secure while you wait for the market to bounce back.

You can create this buffer with a Wealthfront cash account. Designed for those seeking a reliable and safe high-yield savings plan, this account gives you full access to your money at all times, including fast (and free) transfers to internal Wealthfront investing accounts, as well as external accounts. That’s the kind of liquidity and optionality billionaires would approve of.

You can also check out Moneywise’s top picks for Best High-Yield Savings Accounts of 2025 to compare your options and start building your cash reserve.

Leverage AI-powered investing tools

Wealthy investors leverage technology by using AI-powered predictions, algorithmic trading and cutting-edge tools to stay ahead. You don’t need billions to tap into this power. Robo-advisors can help automate your portfolio management based on your goals to help you make smarter investment decisions.

Invest in alternative assets

Many high-net-worth individuals invest in alternative assets such as commodities and fine art to round out their portfolios. Commodities like gold and silver can be hedges against inflation and market volatility. And while not highly liquid, collectibles, artwork or vintage cars can offer diversification and the potential for substantial returns.

You might consider investing directly in precious metals through a gold IRA with the help of Thor Metals.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases.

Investing like a billionaire isn’t about having a billion-dollar portfolio. It’s about following the basics, diversifying across asset classes and thinking long-term. Leverage technology, manage your risks and stay patient. Whether it’s real estate, stocks or commodities, billionaire strategies can help set you on the path to financial success. Of course, always consult a financial advisor and do the proper research before you dive into any new investment.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

Buying and owning a house is often considered a significant financial investment and a milestone in personal wealth building. However, economist Peter Schiff believes that this notion is simply not true.

During a recent appearance on the Iced Coffee Hour podcast, hosted by Graham Stephan and Jack Selby, Schiff was asked about the common belief that, for many, a house represents their primary means of saving.

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• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

Schiff, who runs Euro Pacific Capital, strongly disagrees with this perspective.

“A house depletes your savings. It’s a money pit,” he said. “It’s crazy the amount of money that a house costs you.”

Proponents of homeownership often argue that property values appreciate over time. For example, the average sales price of new houses sold in March 2025 was $497,700, compared to  $492,700 in February, according to the U.S. Census Bureau.

But not everyone is convinced that this trend tells the whole story.

“People think, ‘Oh, the house appreciates’ — not always,” Schiff cautioned. “It’s inflation that’s doing it. All that’s happening is your land is keeping pace — but houses don’t.”

This raises an important point. If inflation is the main driver, is owning physical property the only way to benefit from rising real estate values?

Not necessarily.

Here are a few other ways to invest in real estate without the burden of a mortgage, maintenance or timing the market.

From $500,000 to $1 million?

If you bought a house years ago and sold it today, chances are you will receive more than the purchase price.

However, Schiff cautions that these sales often have significant caveats.

“Even if somebody tells you, ‘Oh, here’s this house that I sold for $1 million and I bought it, whatever, 10, 20 years ago for $500,000,’” he said. “If you think about all the money they put into that house over that period of time, they may not have made any money.”

He explained that houses can require significant upgrades, which can be costly.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

For investors who want exposure to the real estate market without the headaches of ownership, maintenance and costly upgrades, the U.S. home equity market offers opportunity.

This $36 trillion market has historically been the exclusive playground of large institutions.

But Homeshares is changing the game by allowing accredited investors to gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

The fund focuses on homes with substantial equity, utilizing Home Equity Agreements (HEAs) to help homeowners access liquidity without incurring debt or additional interest payments.

This approach provides a hands-off way to invest in high-quality residential properties with the added benefit of diversification across regional markets. Minimum investments start at $25,000.

With risk-adjusted target returns ranging from 14% to 17%, the U.S. Home Equity Fund could unlock lucrative real estate opportunities, offering accredited investors a low-maintenance alternative to traditional property ownership.

Buying vs renting

The choice between buying and renting a home hinges on factors like your finances, lifestyle, local market trends and interest rates. While home ownership is a personal decision, Schiff believes one option often makes more sense.

“It depends on your circumstances and where the home is located,” Schiff said. “But for a lot of people — and this has been the case for a long time — renting is a better option.”

His advice? Save the money you’d spend on homeownership and invest it instead.

Schiff also points to government policies that have skewed the housing market, such as tax breaks for mortgage interest that aren’t available to renters. Add a sharp rise in interest rates — from about 3% three years ago to nearly 7% today — and the case for buying can become weaker for many.

Beyond the purchase price, homeownership comes with hidden costs like maintenance, upgrades, insurance and property taxes.

But you can still benefit from rising real estate values and generate income — without being a landlord.

One option is tapping into this market by investing in shares of real estate through Arrived.

Backed by world-class investors including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, potentially earning passive income without the headaches of being a landlord.

How it works is simple: Browse through their selection of vetted properties, each picked for their potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100, potentially earning quarterly dividends.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

For many people, the only way to afford a home is to finance it with a mortgage and pay off that loan over time.

During the first quarter of 2025, the median U.S. home sale price was $503,800, according to Federal Reserve Economic Data. Given that median annual wages were just $61,984 during the last quarter of 2024, it’s easy to see why the typical working American can barely afford a down payment on a home today, let alone the entire cost in one fell swoop.

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• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

But uber-wealthy folks are in a different position. Those with billions of dollars to their name can buy a home outright rather than take out a loan.

Yet celebrities like Mark Zuckerberg, Elon Musk and Jay-Z have all made headlines for taking out multimillion-dollar mortgages — not out of necessity but to reap a couple of key benefits.

It allows for better cash flow

Someone who’s a billionaire a couple or several times over may not have to worry so much about cash flow. But borrowing for a home allows them to hang onto their cash for other purposes, rather than tying their money up in an illiquid investment.

Take Hollywood’s it couple, Jay-Z and Beyonce, with an estimated combined net worth of roughly $3.2 billion, for instance. But back in 2017, when their net worth was $1.6 billion, the power couple took out a $52 million loan to buy a hillside estate in Los Angeles., worth $88 million, according to a report published by the L.A. Times.

"Depending on how their portfolio looks — what they’ve invested in — I think there could be a huge benefit to Beyoncé and Jay-Z. It gives them flexibility, and they could pay the mortgage off anytime," Robert Cohan, managing director at Carlyle Financial, said in an interview with Business Insider.

You can still land an affordable mortgage rate even if you don’t fall in the category of America’s elite 1%. The key is to not accept the first offer on the table — and to shop around and get quotes from at least two-three lenders.

According to a study conducted by LendingTree, 45% of homebuyers who received more than one quote got a lower rate than their initial one .

Mortgage Research Center can help you shop around for rates from vetted lenders near you.

All you need to do is enter some basic information about yourself, such as property type and zip code in which it is located, total cost, desired down payment, and your annual income and credit score.

Mortgage Research Center then matches you with lenders best suited to your needs. You can then set up a free, no-obligation consultation to further assess whether they’re the right fit for you.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Free up more money to invest

If you purchased a house in the last couple of years at a fixed rate, chances are you might be able to refinance it at a lower rate right now.

Mark Zuckerberg, the world’s second richest man (according to the Forbes Real Time Billionaires list) did the same.

Back in 2012, when Zuckerberg was #40 on the list with an estimated $15.6 billion net worth, he refinanced his home in Palo Alto, California, with a 30-year adjustable rate mortgage at 1.05%.

While rates probably won’t go down to that level any time soon, the Federal Reserve’s rate cuts over the past few months have already had a noticeable impact. Median mortgage rates are currently hovering around 6.76% — down from 8% in October last year.

With the Fed slated to lower the benchmark rates further in the upcoming months, it might be a good idea to start looking at your options.

Ideally, you can land a lower rate by shopping around. According to a study from LendingTree, 56% of homebuyers shopped around when they refinanced their mortgage. What’s more, 81% of those who chose to refinance, came away with a lower rate than what they started with.

Mortgage Research Center is also a beneficial tool if you are looking to refinance your current mortgage.

The process is the same — you need to enter some information about yourself and your current mortgage, and Mortgage Research Center will match you with vetted lenders offering competitive rates.

More ways to invest in real estate

Buying additional properties to yield rental or investment income can be inconvenient, even for accredited investors. Not only do you have to worry about timely maintenance and property taxes, but you also have to deal with the hassles of being a landlord if you are thinking about renting it out.

This is where First National Realty Partners (FNRP) comes in. With a minimum investment of $50,000, accredited investors can own a stake in grocery-anchored institutional-grade commercial real estate without having to do any of the legwork.

FNRP’s team of experts manages the entire life cycle of the investment — from due diligence of properties to acquisition and tenant management.  The firm typically leases its properties to national brands selling essential goods, like Walmart, Whole Foods, and Kroger.

FNRP also pays out any positive cash flows as dividends quarterly, helping you generate passive income without worrying about property and tenant management.

For those looking for affordable investment options, new investing platforms are making it easier than ever to tap into the real estate market.

For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors.

With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

With risk-adjusted internal returns ranging from 12% to 18%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

If you’re not an accredited investor, crowdfunding platforms like Arrived allows you to enter the real estate market for as little as $100.

Arrived offers you access to shares of SEC-qualified investments in rental homes and vacation rentals, curated and vetted for their appreciation and income potential.

Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level. Their flexible investment amounts and simplified process allows accredited and non-accredited investors to take advantage of this inflation-hedging asset class without any extra work on your part.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

Car dealers aren’t always known for prioritizing your budget — and the lengths some will go to to separate you from your hard-earned money are greater than you might think.

Most car shoppers have never heard of the four-square method, although it’s often used to convince you to make a big financial commitment without the full picture.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

Here’s how it works, along with some tips on how to avoid falling into a car dealer’s trap.

How the four-square method works

The four-square method refers to the dealer making four squares on a piece of paper. The squares contain the following figures:

• The value of your trade-in
• Your down payment
• The price of the vehicle you’re buying
• The monthly payment for your new car

Writing this info down might seem innocent, but dealers often cross numbers out and write them all over the sheet, causing you to lose track of what’s happening.

Dealers sometimes try to obscure the car’s total costs when using this method. Instead, their goal is to get you focused on the amount of your monthly payment. They want to convince you the vehicle is in your budget if you can manage the monthly costs — no matter how many months it takes.

Unfortunately, dealers aim to lock you into long-term car loans to make that price appear lower. But what it does is increase the total cost of the car, leaving you in debt for longer. You also pay more in interest over time, which is never good considering you also have to account for the ongoing cost of car insurance.

Of course, the total cost is nowhere to be found on the squares.

Insurance costs are an important factor to consider. Due to new tariffs on imported cars and auto parts from Canada and Mexico, your premium could increase by an average of 8% by the end of 2025, according to a study by Insurify — going from $2,313 a year up to $2,502.

Whether you’re in the market for a car or not, you can always benefit from doing a little comparison shopping on your policy. This used to take hours of research, but not anymore with free services like OfficialCarInsurance.

OfficialCarInsurance helps you instantly sort through the best policies from car insurance providers in your area, including trusted names like Progressive, GEICO, and Allstate. With rates as low as $29 per month, you can find coverage that suits your needs and potentially saves you hundreds of dollars per year.

To get started, fill in some basic information and OfficialCarInsurance will provide a list of the top insurers in your area.

The more you find savings for other car costs, the more money you can put toward your monthly car payments to pay off your loan faster.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Avoid falling for a car dealer’s strategy

Fortunately, you can avoid being fooled by the 4-square method — or any other methods dealers use to squeeze every dollar out of you. Here’s what you can do to ensure you pay a fair price.

Do your research before you go

An informed customer is less likely to be swindled, so doing your own research can help you stick to a budget that makes sense for you. The Kelley Blue Book and AutoTrader can be a good way to find out the going rate for a car so you’ll know how much you can expect to pay.

Get preapproved for a car loan independently

You don’t have to borrow from the dealer when buying a car. While they sometimes offer great incentives, the rates are often comparable to car loans from private lenders.

If you pass up dealer financing, they have fewer chances to tack on hidden costs or trick you into a low payment over an extended loan term.

Take the time to shop around, compare rates and find out what you can afford with a reasonable loan term. That way you can leverage your pre-approval at the dealership and see if they can offer a lower rate.

Look at total costs

Dealers use the four-square method to present so many numbers that you won’t notice they aren’t disclosing the total costs. The problem is that not understanding the actual price you’re paying can lead to bad choices.

If you have already been taken in by the four-square method, it’s not too late to lower your costs so you can make your car payments more affordable, allowing you to pay-off high-interest debt faster.

Credible makes it easy to streamline your debt payments so you aren’t juggling paying off multiple lenders at different rates. Its online marketplace of vetted lenders provides personal loan offers based on your needs, allowing you to pay off your car loan more efficiently at a fixed rate.

Consolidating your debt with a personal loan from Credible can be the first step towards more financial freedom and getting out from under that damaging debt.

When buying a car, don’t let the dealer drive your decision making — and don’t let them confuse you. Go in with a clear budget and an understanding of what the car should cost. If the dealer doesn’t align with your financing needs, find a lender that does.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

Although he hit the jackpot with a massive $255 million contract in 2023, Philadelphia Eagles quarterback Jalen Hurts still lives like a humble college student. He rents an apartment in Cherry Hill, New Jersey, for just $2,000 a month, according to a report from The Sun.

“I didn’t buy a house or anything like that when I got drafted because it was just me,” the superstar told GQ in a 2021 interview. "I didn’t need this big place just for myself. I just got myself a little apartment. You know, something smooth that’ll last me for the time being."

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Hurts’ intentional choice to rent a bachelor pad rather than splurge on a luxury penthouse or sprawling mansion is a standout example of financial discipline and living within one’s means.

Here’s how a similar approach could help you chart a path to financial freedom.

Needs-based budgeting

Given that each NFL season lasts for just 18 weeks, athletes like Hurts don’t necessarily need to purchase property near their workplace. His deliberate decision to rent is an example of needs-based budgeting.

According to the University of Pennsylvania, this budgeting technique focuses on securing essential spending needs first before moving onto saving, investing and indulging in luxuries.

Financial experts usually recommend spending no more than 30% of your gross income on housing and no more than 15% for car payments. Applying these limits while making purchase decisions could help you live within your means.

With Monarch Money, you can track your spending down to the last penny — allowing you to budget more efficiently.

The app syncs all your accounts and categorizes your transactions automatically, and its net worth tracker displays all your assets and liabilities at one glance. This way, you can get a snapshot of your finances in one place, so you know where your money is and where it’s going all the time.

You can get a two-week free trial and up to 50% off for the first year when you sign up.

With your needs secured, you can turn your attention to saving and investing to achieve financial freedom as rapidly as possible.

You can save while you spend by investing spare change from everyday purchases with Acorns. All you have to do is link your bank account and credit cards, and Acorns will round up every purchase you make to the nearest dollar and invest the excess in a diversified portfolio of ETFs.

For instance, when you buy a coffee for $4.55, Acorns will automatically round up the transaction to $5, and deposit the 45-cent difference into a smart investment portfolio. Just $2.50 worth of daily round ups can add up to over $900 a year — and that’s before it earns money in the market.

Sign up today and get a $20 bonus investment.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Long-term investing

Although Hurts rents during the football season, he’s an active real estate investor off-season.

He purchased a $215,000 home in his hometown of Humble, Texas, for his father before purchasing another property for his mother in Houston, according to the NY Post. The MVP also owns a $6 million 6,000-square-foot residence in Texas along with the unit next door which cost another $2.68 million.

While he’s still at the top of his game, this extensive real estate portfolio could serve as a long-term financial safety net for the superstar athlete should he ever need it. Investing in real estate also offers diversification benefits, allowing investors to somewhat hedge their portfolios against market downturns.

New investing platforms are making it easier than ever to tap into the real estate market.

For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors.

With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

With risk-adjusted internal returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

If you’re not an accredited investor, crowdfunding platforms like Arrived allow you to enter the real estate market for as little as $100.

Arrived offers you access to shares of SEC-qualified investments in rental homes and vacation rentals, curated and vetted for their appreciation and income potential.

Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level. Their flexible investment amounts and simplified process allows accredited and non-accredited investors to take advantage of this inflation-hedging asset class without any extra work on your part.

Other ways to invest

Setting aside a portion of your income for investing in stocks and bonds can help you secure your financial future. In fact, stock market investments have historically proved to be more lucrative than real estate — the S&P 500 index has returned roughly 10% per year on average, outperforming the residential real estate sector’s 4%-8% gains.

Legendary investor Warren Buffett is also a fan of low-cost index funds, saying they make “the most sense practically all of the time.”

Wealthfront is a robo-advisory platform that allows investors to automatically invest in personalized portfolios of index funds and ETFs.

You can also customize your portfolio further by investing in individual stocks. Wealthfront uses modern portfolio theory to automate asset allocation — rebalancing your portfolio and diversifying your deposits in a tax-efficient manner.

Plus, Wealthfront doesn’t charge fees or commissions on individual trades, but rather a flat 0.25% management fee every year. You can get started with just $1.

If you’re looking for ways to diversify your portfolio outside of the stock market, you might consider investing directly in precious metals.

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide i that includes details on how to get up to $10,000 in free silver on qualifying purchases.

Speak to a professional

Whether you’re just embarking on your investment journey or have already built a sizable portfolio, speaking to a financial advisor can help you understand if you’re on the right track.

Especially now – with the markets reacting to President Trump’s tariffs – you might want to connect with an expert for advice on how to hedge your portfolio.

Finding a financial advisor that suits your specific needs and financial goals is simple with Vanguard.

Vanguard’s hybrid advisory system combines advice from professional advisers and automated portfolio management to make sure your investments are working to achieve your financial goals.

All you have to do is fill out a brief questionnaire about your financial goals, and Vanguard’s advisers will help you set a tailored plan, and stick to it.

Once you’re set, you can sit back as Vanguard’s advisors manage your portfolio. Because they’re fiduciaries, they don’t earn commissions, so you can trust that the advice you’re getting is unbiased.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

In the wake of President Donald Trump’s reciprocal tariff announcements markets have see-sawed as investors try to find their footing — but depending on your investment perspective this might not be a bad thing.

For instance, legendary investor Warren Buffett is on record saying he’s fond of bear Markets.

“I love it when the things we buy go down. I get euphoric — you know the stocks are down today and I’m buying more of something I was buying yesterday — I’m buying it cheaper,” he said during an October 2014 interview with Fortune Magazine.

This advice could be as valid today as it was then.

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• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

In the first quarter of 2025, both the S&P 500 index and the Nasdaq Composite recorded their highest losses since 2022, breaking a five-quarter winning streak. During this time the CBOE (VIX) — often referred to as Wall Street’s “fear gauge” —  experienced one of its largest leaps at a 33.97 point increase on April 8, based on confusion surrounding U.S. reciprocal tariff policy. This was the largest jump the CBOE has seen in the last year.

Buffett’s approach offers a different way to view those unsettling red numbers in your brokerage account. He likened it to grocery shopping — where finding items at a reduced price is a win. Yet, when it comes to stocks, some investors don’t apply the same bargain-hunting mindset.

“They think that the stock knows more than they do, so that when the stock goes down, they say the stock is telling them something … they take it as kind of a referendum on themselves, me versus the stock: ‘If it ever gets back to what I paid, I’m going to sell it,’” he observed.

But for Buffett, a drop in stock prices signals the chance to get more for his money.

The only question you need to ask

Buffett’s long-term investing approach has resonated with many. He recommends investors avoid short-term market noise and buy low-cost index funds instead, regardless of broader market conditions.

“If you’re worried about corrections, you shouldn’t own stocks,” Buffett said during an interview with The Street in 2015. “The point is to buy something you like at a price you like, and then hold it for 20 years. You should not look at it day-to-day.”

Consistently investing in a low-cost index fund can compound your wealth over time, thanks to dollar-cost averaging. For instance, if you routinely invest $20 every week for 20 years, you’ll end up with just over $51,300, assuming an annual compound interest rate of 8%.

You can turn spare change from everyday purchases into an investment in your future with Acorns.

Here’s how it works — after linking your debit and credit card with Acorns, the app will automatically round up all expenses to the nearest dollar and set aside the difference. Once your savings hit $5, they are automatically invested in a smart investment portfolio.

You can get a $20 bonus investment when you sign up with Acorns today.

Build your empire

Buffett believes that today’s investors have more flexibility than ever to potentially build their empire through stock investing.

But he also cautioned that this can be a double-edged sword. While it allows investors to make swift moves, it can also lead to hasty decisions.

“It’s a huge advantage which people turn into a disadvantage,” Buffett said, adding that making investments based solely on stock price movements is misguided.

“There is nothing about the price action of the stock that tells you whether you should keep owning [it].”

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Buffett believes that holding onto a stock should depend on what your expectations are for the company’s future performance, not how much it’s worth now.

This can be complicated to assess, especially amid rapid-fire economic policy changes. But Moby’s jargon-free market research can help you out.

Moby is run by a team of former hedge fund analysts, and their track record speaks for itself.

The platform’s stock picks have outperformed the S&P 500 index by 11.95% on average over the past four years. That’s on top of the index’s 10% annualized gains during this period. In fact, over 75 stock recommendations from Moby delivered returns greater than 100%.

With Moby Premium, you can access high-quality research in easy-to-understand reports from Wall Street veterans. Sign up today and become a smarter investor within minutes.

Diversify your portfolio

Historically, bear market conditions don’t last forever — even if they can drag during a deep recession. But short-term fluctuations are worrisome, especially if most of your wealth is concentrated in the stock market.

To protect yourself from market chaos, consider diversifying a portion of your portfolio into alternative assets that traditionally withstand the test of time.

Assets like real estate can sometimes offer much-needed relief.

New investing platforms are making it easier than ever to tap into the real estate market.

For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors.

With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

With risk-adjusted internal returns ranging from 12% to 18%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

Gold — often considered a safe haven asset — can also be a diversifier. The precious metal can add value to your portfolio, with prices climbing past $3,000 per ounce this year.

Those looking to incorporate precious metals into their retirement strategy can benefit from modern investment solutions, like those offered by companies like American Hartford Gold.

American Hartford Gold is a leading precious metals dealer – allowing you to invest directly in gold or silver.

With secure storage, expert guidance, and customizable investment plans, American Hartford Gold helps investors diversify their portfolios while protecting against inflation. Gold IRAs provide a tangible safeguard for retirement savings, combining financial security with significant tax advantages, making them an appealing choice for long-term wealth preservation.

Alternative assets like art could also be valuable additions to your portfolio. Art has historically been negatively correlated with stocks — meaning they go up in value during a market downturn.

For decades, blue chip art was only accessible to the ultra-wealthy. In 2024, elite investors allocated as much as 25% of their total portfolios to art collections. But Masterworks is changing that. You can invest in fractional shares of works from artists like Banksy, Picasso, and Basquiat.

From their 23 exits so far, Masterworks investors have realized representative annualized net returns like +17.6%, +17.8%, and +21.5% among assets held longer than a year.

Get priority access and start investing in fine art within minutes.

• See important Regulation A disclosures at Masterworks.com/cd

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

Anyone who lived through the Great Recession remembers the tremendous economic turmoil that took place.

While the economy has since recovered, many people became wary of financial institutions. Some even choose to hold their cash outside the system entirely.

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• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

This isn’t surprising. There were two bank failures in 2024, and recent tariff-driven recession fears might pave the way for more in the years to come.

"Banks are a reflection of the economy — if the economy worsens, their results will follow," said Stephen Biggar, director of financial institutions at Argus Research.

But, keeping your money out of banks or investments, you could miss out on significant growth. Holding cash reserves means you’re likely losing money every year due to inflation.

How to deposit a large sum of money

You can deposit large sums of cash, but banks must report amounts over $10,000 and may ask about the source of funds.

There’s no issue — as long as your money is legitimate . Just avoid breaking up deposits to dodge reporting, as that’s illegal. Notify your bank ahead of time, and remember FDIC insurance covers up to $250,000 per account category.

Holding onto cash can mean missing out on opportunities for growth. By exploring secure, high-yield savings options and investing platforms, you can maximize your money’s potential and put it to work for your future.

If you’re looking for a dependable way to grow your savings without taking on significant risk, a certificate of deposit (CD) could be a good choice. With SavingsAccounts.com, you can compare rates and features of CDs offered by different banks and financial institutions — all in one place.

With the Federal Reserve lowering benchmark rates, locking in your funds with a high-interest CD can help you boost your savings.

You can compare real-time data on CD offers and get personalized recommendations here.

For those who want to explore additional high-yield savings opportunities, this list of the best high-yield savings accounts of 2025 by Moneywise highlights some of the best accounts available today.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Making moves

While banks may have lost consumer trust during the Great Recession, avoiding the financial system entirely can be a missed opportunity. For instance, $100,000 invested in an S&P 500 index fund in 2009 could have grown to $850,000 by 2024, assuming dividends were reinvested.

While it’s natural to feel cautious about investing, the truth is that long-term, steady investment strategies often yield the best results.

If you’re unsure where to start or want professional advice, Advisor.com connects you with vetted financial advisors who can help you create a tailored plan.

From budgeting to retirement planning, Advisor.com provides a comprehensive approach to financial wellness. Whether you’re looking for a one-time strategy session or ongoing support, their platform makes it easy to find the right fit for your needs.

After answering a few simple questions about your financial goals, you’ll be matched with an advisor and can book a free consultation to explore your options.

Invest for retirement

Planning for retirement requires careful consideration of both stability and growth. Whether you’re diversifying with precious metals or automating investments, there are options to suit every approach.

Gold has long been hailed as one of the best investments for retirement, acting as a hedge against inflation and economic fluctuations. The yellow metal’s performance speaks for itself — gold prices have risen by about 84% over the last five years.

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold.

Priority Gold is an industry leader in precious metals, offering physical delivery of gold and silver. Plus, they have an A+ rating from the Better Business Bureau and a 5-star rating from Trust Link.

If you’d like to convert an existing IRA into a gold IRA, Priority Gold offers 100% free rollover, as well as free shipping, and free storage for up to five years. Qualifying purchases will also receive up to $10,000 in free silver.

To learn more, download their free 2025 gold investor bundle to see if a gold IRA is the right investment for you.

If you prefer a hands-off approach to saving, Acorns makes it easy to grow your retirement fund with minimal effort.

With Acorns, you can invest your spare change into diversified ETF portfolios, ensuring steady progress toward your goals. When you make a purchase on your debit or credit card, Acorns rounds up the price to the nearest dollar and deposits the excess into a smart investment portfolio developed by experts.

You can also customize how you save. With an Acorns Silver plan, you get access to Acorns Later, a retirement investment account with a 1% IRA match on new contributions.

You can also opt for Acorns Gold, which offers a 3% IRA match on new contributions and the ability to customize your portfolio by selecting your own stocks.

Sign up now and you can get a $20 bonus investment.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

With over 30 years of fielding listener calls and cultivating a devoted audience, Dave Ramsey has become one of the rare experts truly in tune with the nation’s financial heartbeat. His company’s surveys and reports deliver unique insights into how Americans earn, save and spend their money.

Ramsey’s 2023 "Today’s Retirement Crisis" study based on a 2016 survey highlights a surprising statistic — 42% of Americans are not currently saving for the future. This is also reflected in the Fed’s 2022 Survey of Consumer Finances, which shows that only 54.4% of families had retirement accounts.

"Even among savers, few are setting aside enough to afford a truly secure retirement. In fact, only one-in-10 Americans save 15% or more of their income — the amount industry experts recommend individuals set aside in order to build adequate savings — for retirement," according to the Ramsey Solutions study.

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• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

This “alarming” information could indicate that many people are facing dire retirement prospects.

“Instead of packing their bags for their dream vacations in their 60s and 70s, millions of Americans will be packing their lunch for another day at the office,” Ramsey’s team wrote in a March 2025 update on average retirement savings in the United States.

Nearly 60% of retired Americans say Social Security is a “major source” of their retirement income, according to Gallup. These benefits typically replace just 40% of pre-retirement income. What’s more, the estimated average monthly Social Security retirement benefit for Jan. 2025 was $1,976, which translates to an annual income of $23,712 — much less than what a comfortable retirement would usually require.

Here are the three steps you can take to start stitching together a safety net that can protect your golden years.

1. Create a saving benchmark

The first step for anyone looking to retire with a comfortable nest egg is to set a benchmark for minimum monthly savings to help secure your future.

As of Feb. 2025, the U.S. personal savings rate was just 4.6%, according to the Federal Reserve. This is the ratio of personal savings to disposable personal income, and it is simply too low to fund a robust retirement. Ramsey recommends setting the benchmark significantly higher at 15% of gross income. This also assumes you already have an emergency fund and you’re out of debt.

For example, a person earning $100,000 a year who manages to save 15% of their income and invests it in an asset that delivers 10% returns annually could accumulate roughly $1.5 million within 25 years. This means it’s possible to retire as a millionaire even if you start saving and investing in your early 40s.

When the market shifts, investors of all stripes look for reliable and safe savings vehicles to cushion their nest egg. Wealthfront’s cash account is designed for those savers. With full access to your money at all times, Wealthfront offers fast and free transfers to Wealthfront investing accounts as well as external accounts.

You can also check out Moneywise’s top picks for the Best High-Yield Savings Accounts of 2025 to find more options to compare, and start building out your cash reserve more efficiently.

If you feel like you can’t set aside enough of your income to invest each month, you can still make your purchases productive with Acorns.

Acorns is an automated investing and saving platform that simplifies the process of setting aside extra funds.

By signing up and linking your bank account, Acorns automatically rounds up the price of each of your purchases to the nearest dollar and deposits the difference into a smart investment portfolio, allowing you to grow your wealth without even thinking about it.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

2. Max out tax-advantaged accounts

Reducing your tax liability could be just as important as maxing out your savings rate. Every penny saved in taxes is another penny that can be used to invest and compound your wealth over time.

For most people, the best way to mitigate taxes is to utilize tax-advantaged accounts like 401(k)s and Roth IRAs.

Unfortunately, many Americans neglect these accounts. In 2023, the average defined contribution plan balance was $134,128 while the median balance was just $35,286, according to Vanguard. Those aged 65 and over had an average balance of $272,588 and a median balance of only $88,488.

None of these balances are enough to fund a secure retirement. But raising your contributions and maxing out these accounts can help you get ahead of your peers.

Those looking to incorporate precious metals into their retirement strategy can benefit from modern investment solutions, like those offered by companies like American Hartford Gold.

American Hartford Gold is a leading precious metals dealer – allowing you to invest directly in gold or silver.

With secure storage, expert guidance, and customizable investment plans, American Hartford Gold helps investors diversify their portfolios while protecting against inflation. Gold IRAs provide a tangible safeguard for retirement savings, combining financial security with significant tax advantages, making them an appealing choice for long-term wealth preservation.

3. Go beyond the bare minimum

Saving 15% of your gross income and maximizing your tax-advantaged accounts are the bare minimum for a comfortable retirement, according to Ramsey. However, if you’re looking to retire sooner, want a better lifestyle in retirement or simply waited too long to get started you may need to go beyond this minimum threshold.

Consider adding sources of passive income, such as rental property, to augment your annual earnings. For example, Arrived allows you to invest in shares of rental homes and vacation rentals without taking on the responsibilities of property management or homeownership.

With Arrived, you can browse a curated selection of homes, each vetted for their appreciation and income potential. Once you find a property you like, you can choose the number of shares you want to buy and start investing in real estate with just $100.

Finally, it can’t hurt to cover your bases by regularly re-negotiating your salary, or looking for a lateral career change that can earn you more.

Regardless of your current financial situation, there are usually a few ways to make improvements and boost your chances of a successful retirement —- from investing to budgeting best practices.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.