I’ve advised a lot of millionaires.
In fact, during my 7-year Wealth Management career, I advised:
- Self-made millionaires
- Decamillionaires (worth $10M+)
- Ultra-high net worth millionaires (worth $30M+)
The crazy part?
Every one of these millionaires had the same trait that made them wealthy:
They ALWAYS find opportunities to multiply their wealth.
Whether they buy:
- Stocks
- Crypto
- Real estate
They NEVER let their money sit idle.
Now, if you’re wondering:
What are the best ways to multiply your wealth?
Then you’ll love the rest of this article.
Here are the 9 best ways to multiply your wealth:
1. AI Startups
- Potential Return: 1% to 20%+
- Risk Level: High
- Minimum Investment: $10
- Best Platform: Fundrise Innovation Fund
Do you want to be an early investor in the AI revolution?
Investing in AI startups before they go public could give you significant returns.
AI startups can also provide:
- Diversification
- Positive societal impact
- Long-term growth potential
The best part?
You don’t need $100,000s to start investing in AI startups.
With the Fundrise Innovation Fund, you can start investing in less than 5 minutes and with as little as $10.
(Most venture capital funds have a $200,000+ minimum).
The Innovation Fund invests in some of the world’s best tech companies.
Including those leading the AI revolution, before they go public.
2. Rental Homes
- Potential Return: 7% to 13%+
- Risk Level: Medium
- Minimum Investment: $100
- Best Platform: Arrived
Did you know 90% of all millionaires become so through owning real estate?
Millionaires invest in real estate because it provides several benefits.
Some of those benefits include:
- Tax advantages
- Protection against inflation
- Passive income generation
- Profits from property appreciation
The best part?
Investing in rental homes is quick and easy nowadays.
With platforms like Arrived, you can effortlessly invest in rental homes and start earning passive income.
Plus you don’t have any of the hassle of managing the properties or tenants.
The downside?
The Arrived properties sell out within a matter of days – if not hours.
So consider getting notified via email when new properties become available.
3. Fine Art
- Potential Return: 8% to 30%+
- Risk Level: Medium
- Minimum Investment: $20 increments
- Best Resource: Masterworks
What do Jeff Bezos, Oprah Winfrey, and the average millionaire have in common?
They all invest in fine art.
Fine art can give you:
- High returns
- Low volatility
- Protection against inflation
In fact, the art market has outperformed the S&P 500 by 165% in the past 25 years.
Now, I know what you’re thinking:
“I don’t have $30M to drop on a Picasso painting.”
Well here comes the good part:
You don’t need to be ultra-wealthy to invest in fine art anymore.
Even the average Joe can now buy shares in fine art thanks to fractional share investing.
So how do you start investing?
The easiest way to invest in fine art is through platforms like Masterworks.
Masterworks allows investors to buy shares of paintings worth over $30 million in $20 increments.
If you want to invest in an asset that is not tied to the stock market, then investing in rare art could be a good idea.
4. Farmland
- Potential Return: 10%+
- Risk Level: Low to medium
- Minimum Investment: $15,000
- Best Platform: FarmTogether
Farmland is one of the best assets to own.
In fact, farmland has outperformed most major assets for over 30 years.
If you invested $10,000 into farmland in 1991, your investment would be worth over $215,000+.
Not only that, but farmland’s average annual return is comparable to that of stocks.
Farmland investments have:
- Low fees
- Low volatility
- Passive income generation
And it gets better:
Farmland appreciation and income have tripled since 2000.
Why?
Because of a growing population and a shrinking land supply across the US.
So how exactly do you invest in farmland?
Investing in farmland is straightforward with platforms like FarmTogether.
With FarmTogether, you can effortlessly invest in farmland and start earning passive income.
FarmTogether is one of the leading farmland investment platforms with over 1.8k clients and $189M in AUM.
Plus you don’t have any of the hassle of managing the farms.
But remember that farmland is illiquid and a long-term investment.
5. Bitcoin
- Potential Return: 0% to 50%+
- Risk Level: High
- Minimum Investment: $1
- Best Platform: Kraken
Bitcoin is one of the best-performing assets of the decade.
In fact, Bitcoin had a 156% return in 2023 and a 57% return so far this year.
And it gets better:
There are over 88,200 crypto millionaires worldwide with the majority holding Bitcoin.
Bitcoin can provide:
- Transparency
- Diversification
- Decentralization
- Significant returns
But beware:
Bitcoin is extremely volatile and there is no guarantee that it will continue to appreciate.
So only invest as much as you are comfortable losing.
You can start your Bitcoin journey with just $10 on platforms like Kraken.
Kraken is one of the largest and oldest Bitcoin exchanges in the world.
It also provides low fees, multiple funding options, and high-security standards.
Just remember to always do your research before you invest.
6. High Yield Savings Account
- Potential Return: 5%
- Risk Level: Low
- Minimum Investment: $1
- Best Platform: Raisin
High yield savings accounts (aka HYSAs) are one of the easiest ways to start earning passive income.
HYSAs can provide:
- Liquidity
- Passive income
- Low (or no) fees
How do you open a HYSA?
Here’s how:
- Go to Raisin (I use Raisin myself)
- Select one of the available savings accounts
- Open your savings account
- Stash 3 to 6 months’ worth of living expenses in your savings account
The best part about this strategy?
Not only do you get:
- Zero fees
- FDIC insurance
- 24/7 access to your funds
- Availability in 30+ countries
But with the current interest rates, you can also get over 5% APY.
A 5% rate on $10,000 of cash would earn you $500.
For doing absolutely NOTHING.
Talk about making your money work for you!
7. Stocks
- Potential Return: 10%+
- Risk Level: Medium to High
- Minimum Investment: $1
- Best Platform: Robinhood
The majority of millionaires invest in stocks.
Why?
Stocks have historically shown a lot of potential for appreciation in value.
Stocks can provide you with:
- Capital appreciation
- Dividend income
- Liquidity
The best part?
Anyone can invest in stocks with platforms like Robinhood.
But remember, stocks can be volatile.
So always do your research before you invest.
Pro tip: If you don’t know what stocks to pick, consider joining Seeking Alpha.
Seeking Alpha uses cutting-edge AI technology to pinpoint top-rated stocks.
I personally use Seeking Alpha for all of my investment research.
Remember:
Always do your research before you invest.
8. Peer-to-Peer Lending
- Potential Return: 10%+
- Risk Level: Medium to High
- Minimum Investment: $10
- Best Platform: Groundfloor
Ever wanted to be a bank?
Now you can with peer-to-peer lending.
Peer-to-peer lending (aka P2P) connects lenders (you) with borrowers.
P2P lending can give you significant returns by allowing you to lend directly to borrowers.
In fact, P2P lending offers:
- Diversification
- Passive Income
- Compounded growth
The best part?
With platforms like Groundfloor, you can start earning passive income with just $10.
And it gets better:
Groundfloor has average returns of 10% and they state that within 6 to 9 months, most loans are repaid.
Keep in mind, you are lending money to people who normally can’t qualify for traditional financing loans.
So make sure you do your research before you invest.
9. Invest in Yourself
- Potential Return: Unlimited
- Risk Level: Low
- Minimum Investment: $0
- Best Resources: Books, courses, podcasts
You should always invest in yourself.
Why?
Because when you invest in yourself, you earn the highest ROI.
Knowledge is power.
And power means money.
In fact, a general rule of thumb is to invest about 3% of your gross income back into yourself.
When you invest money and time in yourself, you are guaranteeing your future success.
You just have to start.
How do you invest in yourself?
There are many ways to invest in yourself.
Here are the best methods:
- Read books
- Take courses
- Exercise daily
- Listen to podcasts
The best investment you can make is in yourself.
If you’re ready to invest in yourself, consider enrolling in my Income Multiplier Course.
In this course, I’ll show you my proven 4-stage process to help you build multiple income streams that can earn you over $10,000 per month.
How to Multiply Your Wealth Quicker
Multiplying your wealth through investing is one piece of the puzzle.
Here are 9 more strategies you can use to speed up the process:
- Change your mentality – Getting rich starts with your mindset. To change your reality, start by changing your mentality.
- Track your money – Tracking your money is essential to build wealth. Use tools like You Need A Budget to track your money.
- Pay off bad debt – Bad debt robs you of your freedom and makes it impossible to build wealth. Pay it off ASAP.
- Create an emergency fund – Save 3 to 6 months’ worth of your basic monthly living expenses in an emergency fund. It will save you from taking on high-interest debt to cover any unexpected expenses.
- Build multiple income streams – If you rely on ONE income source, you’re one step away from being broke.
- Automate your finances – Automation simplifies your life. Set your bill pay to auto-pay. Set your investment contributions to a recurring schedule.
- Increase your income – Ask for a raise. Switch companies. Start a side hustle. Build a business.
- Save & invest more – The more you save & invest, the faster your wealth will build.
- Invest in yourself – Read books. Take courses. Exercise daily. The highest return on your investment will be when you invest in yourself.
Closing Thoughts
Multiplying your wealth is one of the most powerful wealth hacks.
If you want to get rich, never let your money sit idle.
And always remember to do your research before you invest.
Your bank account will thank you later.