36% of millionaires say it’ll ‘take a miracle’ to retire amid rising costs and a shaky market — how to get on the right track even if you don’t have $1 million in the bank

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.

Invest in real estate without the headache of being a landlord

Imagine owning a portfolio of thousands of well-managed single family rentals or a collection of cutting-edge industrial warehouses. You can now gain access to a $1B portfolio of income-producing real estate assets designed to deliver long-term growth from the comforts of your couch.

The best part? You don’t have to be a millionaire and can start investing in minutes.

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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.

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.

With a minimum portfolio size of $50,000, this service is best for clients who already have a nest egg built and would like to try to grow their wealth with a variety of different investments. All you have to do is set up a consultation with a Vanguard advisor, and they will help you set a tailored plan and stick to it.

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.

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.

Another way to diversify your portfolio is through alternative assets like art, which has a low correlation with stocks and bonds.

But it’s not without drawbacks: fine art is an illiquid, high-risk asset whose value can be influenced by shifting tastes, trends and the art world's inner circle. It also requires proper storage, insurance and care — adding to the cost and complexity.

Investing in art was traditionally a privilege reserved for the ultra-wealthy.

Now, that’s changed with Masterworks — a platform for investing in shares of blue-chip artwork by renowned artists, including Pablo Picasso, Jean-Michel Basquiat and Banksy. They charge a 1.5% annual management fee and receive 20% of the profit when a painting sells.

The platform is easy to use , and there have been 23 successful exits to date that have distributed roughly $61 million back to investors. See important Regulation A disclosures at Masterworks.com/cd