The 7 Biggest Money Secrets Most Rich People Won’t Tell You
You know what they say about secrets. They’re no fun.
And when it comes to the super rich, trust us — they’ve got plenty of secrets. And why would they reveal the keys to their success with you, anyway? The more for them, the better, right?
Well, the cat’s out of the bag. These are the biggest money secrets the elite don’t want you to know:
1. Invest in Real Estate Without the Volatility — You Only Need $500
You’re not the only one who daydreams about making money in your sleep. Investing in real estate is one of the best ways to earn passive income. The only problem? You need to have lots of money.
Well, you used to…
With a company called Connect Invest, you can get your foot in the door for just $500, investing in what are called short notes. And, if you make your first investment before December 31st, you can earn a $20 bonus.
Basically, you’re buying the debt that wealthy developers take on to fund their real estate projects — and they have to pay you back, with up to 9% (annualized rate) in interest… while you sleep.
With Connect Invest, you’ll invest for terms of 6, 12, or 24 months, during which you’ll receive monthly fixed-interest payments between 7.5% and 9% (annualized rate). You could earn a legit passive income with those rates — and it’s way higher than what you’d earn with your savings account!
Connect Invest carefully vets each real estate project and borrower. And don’t worry, all loans are backed by real estate collateral. In the rare event of a default, Connect Invest’s sister company will foreclose on the property with the investors’ approval and sell it to recover your investment.
It’s super easy to set up your free account and start investing. To earn your $20 bonus, select “Penny Hoarder” as a referral source and apply promo code “PH20.”
2. Cancel Your Car Insurance
You might not even realize it, but your car insurance company is probably overcharging you. In fact, they’re kind of counting on you not noticing. Luckily, this problem is easy to fix.
Don’t waste your time browsing insurance sites for a better deal. A company called Insurify shows you all your options at once — people who do this save up to $996 per year.
If you tell them a bit about yourself and your vehicle, they’ll send you personalized quotes so you can compare them and find the best one for you.
Tired of overpaying for car insurance? It takes just five minutes to compare your options with Insurify and see how much you could save on car insurance.
3. Get Paid up to $360/Year With This Free Debit Card
Wouldn’t it be nice if you got special treatment wherever you went? You can actually get rewards wherever you shop, using this free debit card from Discover.
You’ll earn 1% cash back on every single purchase you make using your Discover® Cashback Debit account, on up to $3,000 monthly.* There’s no impact on your credit score for signing up and no minimum balance requirements ever.
Need groceries? Tap your card for cash back. You can also get paid sooner with Early Pay direct deposit, protect against overdrafts and access to over 60,000 ATMs without fees. You can handle all of your banking needs through the app and connect a virtual wallet like Apple Pay to amplify your rewards. And on top of all that, checking-account deposits are FDIC-insured up to the maximum amount allowed by law.
Does your bank do all that? If not, open a free Discover checking account to get special treatment from a bank that will actually put money back into your account.
*See website for details.
4. This App Can Help you Build Wealth – Even if You’re Broke
You already have a job, so investing your money shouldn’t feel like working overtime. And why’s there so much jargon? And hidden fees? And minimum deposits?
It’s almost like they don’t want non-rich people to invest with them.
A company called Moby can help you build wealth through the stock market without requiring a $10k investment or using industry jargon to discourage people who work for a living.
Here’s the rundown: You can potentially earn 12% on whatever you invest with Moby. And a subscription to their plain-language insights and recommendations only costs about $8 a month.
Whether you want to learn the market or just grow your money, a Moby subscription arms you with as much or as little information as you want:
- Morning newsletter and end-of-day report
- The Flagship podcast and audio/video reports
- Market reports
- Online courses to learn more about trading
- Hedge fund tracker
- And much more
This could be the money-making opportunity you’ve been looking for. So, jumpstart your investing journey with a Moby account and start growing your money for $8 and change per month.
5. Make Up for Lost Time and Leave Your Family $250K+
We never seem to have enough savings or investments. But there’s one particular way to make up for that shortfall: life insurance.
None of us like to think about what happens to your family if you pass, but this is a smart way to free them from a burden – and give you peace of mind.
With NerdWallet, you can get multiple life insurance quotes all in one place and find a plan that’s probably far more affordable than you think.
You can choose whole life plans if you want to do it once, forget about it and have coverage for the rest of your life. Or you can pick from term life plans to get even lower rates with coverage that can last a few decades.*
Is it finally time to get covered? It’s easy to get life insurance quotes from NerdWallet to see just how affordable a good policy could be for you.
6. Get 4.50% APY and a $30 Bonus With This High-Yield Cash Account
It’s hard not to cringe when you see a bank statement full of fees. And let’s be real: When every dollar matters, why are we paying to keep money in our accounts in the first place?
It’s time for something better.
With Wealthfront, you can forget those annoying bank fees and earn a whopping 4.50% APY through partner banks on your cash — about 10x the national average savings rate. Enjoy unlimited transfers, same-day withdrawals, zero account fees, and no minimum balance requirements to earn 4.50% APY¹. You can use Wealthfront with your favorite payment apps like Apple Pay, Venmo, and Google Pay.
They’ll also give you access to a customizable investment portal so you can start building wealth while focusing on your short- and long-term goals.
Wealthfront isn’t quite a bank, but it works with several FDIC-insured partner banks to give you the convenience and flexibility you expect, minus the sneaky fees and account requirements. The best part? You can get started with Wealthfront with only a $1 opening deposit or snag a $30 bonus² when you deposit $500 or more (terms and conditions apply).³
Join Wealthfront today and make your money work for you— not your bank.
7. Protect Your Household from System & Appliance Breakdowns — and Save BIG!
It’s possible your fridge or HVAC system could turn on you at any moment, and there’s nothing your homeowner’s insurance would do to protect you.
Besides, would you really want to wait on insurance to get around to begrudgingly sending out help?
Choice Home Warranty’s plans deliver rapid response times for household repairs. Service is available 24 hours a day via their app, website, or phone.
A small monthly fee protects your washer, dryer, HVAC system, stove, fridge, and more—things your insurance company won’t.
And not to keep bashing your awesome homeowner’s insurance, but these home warranty plans cost way less and could save you much more money than insurance.
Choice Home Warranty has protected more than 2 million homes from having to cancel plans or lean on credit cards. With a network of over 25,000 insured technicians, help is never far away.
Learn how you can get a Free Quote. Just take this 30-second quiz to learn how much coverage you need to protect your finances from appliance repairs.
¹Based on the national average interest rate for savings accounts as posted on FDIC.gov, as of July 15, 2024.
²Client must maintain $500 by the 30 day mark. See website for details.
³Checking features for the Cash Account are subject to identity verification by
Green Dot Bank, Member FDIC. Cash account is offered by Wealthfront Brokerage LLC (“Wealthfront Brokerage”;), a Member of FINRA/SIPC. Wealthfront Brokerage is not a bank. We convey funds to partner banks who accept and maintain deposits, provide the interest rate, and provide FDIC insurance. The APY rate listed is as of 09/19/2024 and is subject to change at any time. Fees and Eligibility requirements may apply to certain checking features, please see the Deposit Account Agreement for details. Limits, fees, and exclusions apply. All investing involves risk, including the possible loss of money you invest.
Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google, Android and Google Play are trademarks of Google Inc., registered in the U.S. and other countries.
Please note, Real-Time Payments (RTP) transfers may be limited by destination institutions, daily transaction caps, and by participating entities such as Wells Fargo and the RTP® Network. New Cash Account deposits are subject to a 2-4 day holding period before becoming available for transfer. Wealthfront doesn’t charge for transfers, but receiving institutions may impose an RTP fee.
The Penny Hoarder receives compensation when a reader clicks on the referral link that redirects them to Wealthfront, which creates a conflict of interest. The Penny Hoarder’s opinions in this article are their own and are not tied directly to such compensation. The Penny Hoarder and Wealthfront Brokerage, LLC are not associated with one another and have no formal relationship outside of this arrangement.
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