Life would be a lot simpler if someone just Venmo’d us $1 million, but realistically that’s not going to happen. (Besides, Venmo won’t process transfers that big.)
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Even if becoming a millionaire is unlikely, you can still manage your finances like one. No, we’re not going to walk you through buying hundreds of Apple shares or picking out the ideal yacht.
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These are straightforward financial moves any ordinary person can make today. Each tip can nudge you nearer to achieving your major objectives.
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Take a look:
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1. Start Investing in Gold (Even If You’re Not Wealthy)
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The ultra-wealthy already understand gold’s appeal — which is why many include it in their portfolios. It’s not only valuable but has traditionally acted as a safe hedge against inflation and market turbulence. Gold has even gained value during uncertain periods.
Good news: You don’t need to be extremely rich to buy gold. A firm called Lear Capital can guide you through the whole process from beginning to end. They’ll even send you a complimentary gold investment kit.
Lear has been working in precious metals for over 25 years and has executed $3 billion in transactions for more than 93,000 clients. Plus, they offer a 24-hour risk-free window to review your purchase before finalizing. A Lear specialist will call to walk you through each step. Minimum investments start at $15,000.
To get started, visit Lear Capital’s website to request your free gold investment kit.
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2. You Can Lower Your Car Insurance Costs
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Did you know you could trim a significant chunk from your bill simply by switching car insurance providers?
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It’s true — rates are historically low, and you might be paying far more than necessary for the same coverage. You just need to search for better deals.
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But don’t waste time calling around to different insurers. Use a site called EverQuote to compare all your choices at once.
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EverQuote is the biggest online insurance marketplace in the U.S., so it pulls top offers from more than 175 carriers and presents them to you.
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Spend a few minutes answering questions about yourself and your driving history. EverQuote will then provide recommended car insurance options. In just a short time, you could save as much as $610 per year.
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3. You Can Replace Your Credit Card Debt Payment
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Each month you make payments on credit card debt, but it barely seems to shrink. Blame the steep interest rates — sometimes reaching 24% or more. It can feel impossible to make progress.
MoneyLion could help you find loan offers that reduce your interest rate by up to 70% as soon as tomorrow.
Here’s how it works: MoneyLion can connect you with new loan options at much lower interest rates — possibly as low as 5.20% APR*. That’s roughly 70%* less than the typical credit card APR. This is how you can finally start moving forward.
You can use the new loan to pay off all your existing credit card balances, leaving you with one (cheaper) monthly payment that helps you get out of debt faster.
If your credit score is at least 620, you may qualify for up to $100,000 with no collateral required. Terms can extend up to 144 months.
Worried you might not qualify? Take two minutes to check online and see if you could slash your credit card interest by 70%.
*Depends on creditworthiness. Average credit card APR was 24.72% as of 8/14/23, per Forbes Advisor’s weekly credit card rates report.
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4. Build a $20,000 Retirement Pot
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Imagine buying a single share of Amazon for $18 when it first IPO’d. Today that share would be worth well over $20,000 — despite the market’s ups and downs.
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Here’s the secret millionaires use: the earlier you begin investing, the better your chances. And we found a company that’ll give you free stock to kick things off.
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An investing app called Robinhood will grant you up to $200 in free stock from firms like Visa, Microsoft and GE simply for downloading the app and opening a free account.
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Robinhood is free and user-friendly, which is why over 10 million people use it — from market enthusiasts hoping to beat the averages to casual savers aiming to tuck away a little for the long term.
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