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Diversify your portfolio

While you might not have the same resources as investing legends like Warren Buffett or Bill Gates, your wealth status doesn’t have to stop you from building a diversified portfolio and increasing your financial standing.

But how should you diversify? There’s a way to build your portfolio without having to worry about making trades or choosing assets yourself.

Wealthfront has an automated investing platform that can help you grow your money in a way that aligns with your appetite for risk and long-term investing goals.

By answering a few questions, Wealthfront helps you determine your risk tolerance and optimal asset allocation. It then crafts a diversified portfolio, spanning from a range of ETFs – from stocks and bonds to real estate.

By signing up now, Wealthfront offers an extra $50 to help kickstart your investing journey.

If you are a few more rungs up the ladder toward the top 1% and you’ve achieved the title of accredited investor, you may want to consider commercial real estate as part of your expanded portfolio.

Commercial real estate has long been touted as a wise investment for adding stability to your portfolio, outperforming the S&P 500 over a 25-year period.

Private equity firm First National Realty Partners (FNRP), which specializes in grocery-anchored retail with historically strong return potential, allows accredited individual investors to access institutional-quality commercial real estate investments — without the leg work of finding deals yourself.

FNRP has developed relationships with the nation’s largest essential-needs brands, including Kroger, Walmart and Whole Foods, and provides insights into the best properties both on and off-market.

Their secure online platform makes investing in commercial real estate convenient and simple. You can engage with experts, explore available deals and easily make an allocation, all in one personalized portal.

Kiss Your Credit Card Debt Goodbye

Millions of Americans are struggling to crawl out of debt in the face of record-high interest rates. A personal loan offers lower interest rates and fixed payments, making it a smart choice to consolidate high-interest credit card debt. It helps save money, simplifies payments, and accelerates debt payoff. Credible is a free online service that shows you the best lending options to pay off your credit card debt fast — and save a ton in interest.

Explore better rates

Put your savings to work

If you think of savings as a seed, the best thing you can do to help them grow is to find some solid soil to plant them in.

This means using a savings vehicle with a high interest rate like a certificate of deposit (CD) or a high-yield savings account.

CDs pay a fixed interest rate for a set term. The interest rates are usually higher than savings accounts, but if you withdraw your CD funds before the term ends, you'll be charged a penalty fee.

With CD Valet – an online CD marketplace – users can shop and compare top certificate of deposit rates from various banks and credit unions nationwide.

Their extensive database shows the most competitive rates without bias, with daily rate updates and earnings calculators which give consumers an array of free tools to help them find the right CD to meet their savings goals. It’s a solid set-it-and-forget-it approach to growing your savings for your long-term wealth goals.

If you want to build your savings but have them be more accessible than they are in a CD, you can opt for a high interest cash account — like the Wealthfront Cash Account — to keep working your way to top 1% status.

Wealthfront’s cash account offers 5.00% APY — that’s 10x the national average — making it a great place to grow your savings.

You can fund your cash account with as little as $1 and start maximizing your money today.

As far as high-yield savings accounts, check out our list of the Best High Yield Savings Accounts of 2024 to find some great savings options that can also earn you more than the national average of 0.45% APY.

Work with a professional

Sometimes, accepting that you need help is the first step to getting a hold on your finances — especially if you’re aiming to reach the top 1%.

Zoe Financial will connect you with vetted financial advisers who can help you achieve your financial goals.

All you have to do is share some brief details and in a few minutes you’ll be matched with registered financial advisers.

You can then view their profiles, which showcase their experience. And you can even book an initial consultation with them on the spot, 100% free of charge — with no obligation to hire.

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Moneywise Moneywise Editorial Team

The Moneywise Editorial Team is a group of passionate financial experts, seasoned journalists, and content creators who are deeply committed to providing unbiased, relevant, and accurate financial information. With years of combined industry experience, our team is dedicated to maintaining the highest journalistic standards and delivering informative and engaging content. From personal finance and investing to retirement planning and business finance, we cover a broad range of topics to suit the financial needs of our diverse readership. You can trust the Moneywise Editorial Team to empower you with the knowledge and tools necessary to make wise financial decisions.

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.