Jun 26, 2023
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Grace Groner worked as a secretary for medical device giant Abbott Laboratories for 43 years. She lived in a tiny one-bedroom cottage, didn’t own a car and bought her clothes at rummage sales.
So when she passed away in 2010 at the age of 100 and left her estate to her alma mater, Lake Forest College in Illinois, the story made headlines.
While Groner was working at Abbott in 1935, she decided to purchase three shares of the company. At the time, they were trading at around $60 each, for a total investment of $180 — a fair amount of money back then, but far from an extravagant investment.
She held on to those shares. When the stock split, she didn’t sell them. When the company paid dividends, she used the cash to buy more shares of Abbott.
Fast forward decades later and that small $180 investment had grown to more than $7 million.
Groner’s simple but powerful investing strategy allowed her to earn passive income over a long period of time.
There are a number of alternative investment options with long-term growth potential that can help you build your wealth for the long haul, too. Here are three worth considering.
Dividend stocks
Like Groner, you can choose to invest in dividend stocks as a means to build your wealth and you only need as little as $1 to start.
With Acorns, you can make investing in dividend stocks an everyday habit.
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 into a smart investment portfolio. This way, even the most essential spending translates to money saved for the future.
Acorns Invest accounts reinvest dividends by default, so that even the money you earn can start earning money. Open an Acorns account now and you'll get a $20 bonus investment..
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Commercial real estate
Commercial real estate is known to produce a steady cash flow and diversify your portfolio, but it’s an asset class that has historically been reserved for elite investors.
Fortunately, First National Realty Partners (FNRP) — a private equity firm — makes commercial real estate accessible to everyday investors through its online platform.
FNRP gives you access to institutional-quality, grocery-anchored commercial real estate investments, and you don’t have to scope out the deals for yourself — FNRP’s team of experts manage every step of the investment process.
Because FNRP’s investments are anchored by major grocery stores, they remain steady even when the economy is volatile.
All you have to do to get started is fill in some information about yourself, your income and investment goals and you can start growing your wealth.
Gold
You don’t have to be an upper-crust connoisseur to reap the inflation-hedging benefits of investing in precious metals.
Rosland Capital can help you safeguard your nest egg by rolling over your retirement account into a gold IRA.. This lets you combine the tax advantages of an IRA with the inflation-hedging properties of gold.
While inflation is increasing everyone’s expenses, precious metals won’t be affected — so a Gold IRA might be the best thing to preserve your wealth.
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