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Below are the top expert-recommended purchases thatenable the upper middle class to get richer.
These assets typically appreciate over time and can add significant value to your wealth portfolio, Jimenez noted.
These accounts benefit from tax advantages that enhance growth potential over time, said Jimenez.
Similarly, setting up educational funds forchildren or grandchildrencan ensure long-term financial stability for future generations.
They provide exposure to thereal estate marketwhile generating income through dividends.
Farmland Investments
Farmland investments are another way to build wealth, according to Gosselin.
Farmland tends to hold its value, generates income, and acts as a hedge against inflation.
It doesnt move with the stock market, which makes it a good option for balancing a portfolio.
Short-term rental markets fluctuate, but high-demand areas consistently provide strong returns, he explained.
Tax-Advantaged Accounts
According to Gosselin, tax-advantaged accounts are simple but effective.
Theyre underutilized by many high earners but offer another way to maximize savings while reducing taxable income.
Peer-to-Peer Lending
Peer-to-peer lending offers another income stream by lending money directly to individuals or small businesses.
The risk depends on the creditworthiness of the borrower, but well-diversified lending portfolios can produce solid returns.
Some platforms handle the vetting process, making it easier to manage.
Early-stage companies need funding, and investors who get in early can see substantial gains if the business succeeds.
He said spreading investments across multiple startups lowers the risk of any single one failing.
Startups operate in high-growth industries, and successful exits throughacquisitions or IPOscan yield significant gains, the expert noted.
The Bottom Line
Experts agree that wealth building is about making informed decisions with money.
As Gosselin said, Diversification, risk management and long-term planning all play a role.
Some investments generate passive income, while others provide tax advantages or long-term appreciation.
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