Tarra Jackson

[[{“value”:”Image source: Getty Images
Some people think millionaires made their money by taking big swings — like launching startups, flipping properties, or gambling on crypto. But the truth is a lot of wealthy people build their fortunes the slow and boring way.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. In 2024, the number of 401(k) millionaires surged by 27%, according to Fidelity Investments. These are ordinary folks who achieved millionaire status by simply working their regular job and investing a portion of each paycheck. Not very risky at all.If you’re looking to build wealth without taking on big risk, here’s how millionaires quietly (but effectively) stack their money.1. Keep cash in a high-yield savings accountWhen it comes to storing cash, high-yield savings accounts (HYSAs) are as risk free as it gets.Not only do HYSAs earn up to 10x more interest than traditional savings accounts, but they’re FDIC insured. This means the money is protected up to $250,000 per account holder, even if the bank goes out of business.Millionaires make sure their cash is safe and working hard for them at all times. If you don’t have an HYSA right now, check out these top high-yield accounts, all FDIC insured and earning up to 4.40% APY.2. Slow, consistent investing habitsMillionaires don’t time the market. They trust a method called dollar-cost averaging (DCA), where you invest a set amount on a regular basis — no matter what the market’s doing.By investing a fixed amount of money every month, you’ll naturally buy more shares when prices dip and fewer when they’re high. Over time, this smooths out your cost and removes the emotion from investing.It’s no wonder 401(k) plans and IRAs are built around this strategy. It encourages steady contributions and helps long-term investors stay the course, even when markets get choppy.3. Invest in index funds and target-date fundsMillionaires love simple, low-cost ways to grow their money. That’s where index funds and target-date funds come in.Index funds track a specific market (like the S&P 500), giving you instant diversification across hundreds (or thousands) of companies.Target-date funds automatically shift from growth to conservative assets as you get older, so they get less risky as you approach retirement age.These funds tend to have low fees and solid long-term returns. From 1926 to early 2025, the S&P 500 has returned an average of about 10% per year. It’s not a get-rich-quick move, but it’s one of the most proven ways to build long-term wealth.Almost all online brokers offer both index funds and target-date funds. They’re usually available inside most retirement plans, too.And there’s no harm in running your investment plans by a professional. This short questionnaire from our partner, SmartAsset, helps match you with up to three fiduciary financial advisors, each legally bound to work in your best interest.4. Diversify income streamsJust like you spread your investments across different baskets, building multiple streams of income diversifies your paychecks. If one income source slows down or disappears, you’ve got others to fall back on.Here are a few ways to start building income on the side:Earn dividends from stocksRent out a room or property for passive real estate incomePick up a side hustleMonetize a hobbyThese might not seem like much at first, but they can scale over time. For example, when I bought a rental property in Texas about 10 years ago, it only brought in a couple hundred bucks a month after expenses. But over time, rent grew, the mortgage stayed fixed, and I got more efficient with management. Now it consistently puts $800 in my pocket every month.The bottom lineYou don’t need to take big risks to build wealth. In fact, a more reliable path to becoming a millionaire is by playing it safe and sticking with boring investments.Risky bets might make headlines. But I’d rather earn a guaranteed 4.00% in a risk-free account than cross my fingers on hitting the next big thing.Want to earn up to 4.40% APY with zero market risk? Open a top high-yield savings account today.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.”}]] [[{“value”:”

Some people think millionaires made their money by taking big swings — like launching startups, flipping properties, or gambling on crypto. But the truth is a lot of wealthy people build their fortunes the slow and boring way.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

In 2024, the number of 401(k) millionaires surged by 27%, according to Fidelity Investments. These are ordinary folks who achieved millionaire status by simply working their regular job and investing a portion of each paycheck. Not very risky at all.

If you’re looking to build wealth without taking on big risk, here’s how millionaires quietly (but effectively) stack their money.

1. Keep cash in a high-yield savings account

When it comes to storing cash, high-yield savings accounts (HYSAs) are as risk free as it gets.

Not only do HYSAs earn up to 10x more interest than traditional savings accounts, but they’re FDIC insured. This means the money is protected up to $250,000 per account holder, even if the bank goes out of business.

Millionaires make sure their cash is safe and working hard for them at all times. If you don’t have an HYSA right now, check out these top high-yield accounts, all FDIC insured and earning up to 4.40% APY.

2. Slow, consistent investing habits

Millionaires don’t time the market. They trust a method called dollar-cost averaging (DCA), where you invest a set amount on a regular basis — no matter what the market’s doing.

By investing a fixed amount of money every month, you’ll naturally buy more shares when prices dip and fewer when they’re high. Over time, this smooths out your cost and removes the emotion from investing.

It’s no wonder 401(k) plans and IRAs are built around this strategy. It encourages steady contributions and helps long-term investors stay the course, even when markets get choppy.

3. Invest in index funds and target-date funds

Millionaires love simple, low-cost ways to grow their money. That’s where index funds and target-date funds come in.

• Index funds track a specific market (like the S&P 500), giving you instant diversification across hundreds (or thousands) of companies.
• Target-date funds automatically shift from growth to conservative assets as you get older, so they get less risky as you approach retirement age.

These funds tend to have low fees and solid long-term returns. From 1926 to early 2025, the S&P 500 has returned an average of about 10% per year. It’s not a get-rich-quick move, but it’s one of the most proven ways to build long-term wealth.

Almost all online brokers offer both index funds and target-date funds. They’re usually available inside most retirement plans, too.

And there’s no harm in running your investment plans by a professional. This short questionnaire from our partner, SmartAsset, helps match you with up to three fiduciary financial advisors, each legally bound to work in your best interest.

4. Diversify income streams

Just like you spread your investments across different baskets, building multiple streams of income diversifies your paychecks. If one income source slows down or disappears, you’ve got others to fall back on.

Here are a few ways to start building income on the side:

• Earn dividends from stocks
• Rent out a room or property for passive real estate income
• Pick up a side hustle
• Monetize a hobby

These might not seem like much at first, but they can scale over time. For example, when I bought a rental property in Texas about 10 years ago, it only brought in a couple hundred bucks a month after expenses. But over time, rent grew, the mortgage stayed fixed, and I got more efficient with management. Now it consistently puts $800 in my pocket every month.

The bottom line

You don’t need to take big risks to build wealth. In fact, a more reliable path to becoming a millionaire is by playing it safe and sticking with boring investments.

Risky bets might make headlines. But I’d rather earn a guaranteed 4.00% in a risk-free account than cross my fingers on hitting the next big thing.

Want to earn up to 4.40% APY with zero market risk? Open a top high-yield savings account today.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”Image source: Getty Images
You spent decades working hard and building wealth. But one wrong move in your estate plan could quietly undo a lifetime of smart decisions.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. It’s a mistake that’s shockingly common among affluent families. It doesn’t make headlines, but it does trigger massive tax bills — and it’s costing heirs millions every year.The worst part is that most people don’t even realize they’re doing it.If you’re serious about preserving your wealth, this is the one inheritance trap you need to avoid.The silent killer of wealth transfers: Mismanaging capital gainsLet’s start with the culprit. The biggest inheritance mistake wealthy families make is transferring appreciated assets — like stocks, real estate, or business interests — too early.When you gift these assets while you’re still alive, the cost basis for the gifted assets remains the same. That means they could owe massive capital gains taxes when they sell. But if those same assets are passed down after death, they typically qualify for a step-up in basis, resetting the value to the fair market price at the time of your passing and wiping out most or all of the capital gains tax burden.In other words: Gifting early might feel generous, but it could leave your heirs with a huge tax bill they never saw coming.A nearly half a million dollar lessonImagine you bought a vacation property decades ago for $250,000. Today, it’s worth $2.5 million. If you gift it now, you’re giving your loved ones that $250,000 basis. When they sell it, they could owe taxes on $2.25 million in gains — potentially a nearly $500,000 hit.But if they inherit the property after your death, they get a step-up in basis to $2.5 million. If they sell it soon after, the tax liability could be close to zero.That’s the difference between passing on an opportunity and passing on a burden. With our partner, SmartAsset, you can get matched with up to three fiduciary advisors so you can get professional advice.Why this mistake keeps happeningAffluent families often want to help their children now, not later. Others might assume gifting while they’re alive simplifies the estate or avoids probate. Some people are simply unaware of the step-up rule or don’t realize how significantly it can reduce tax obligations.And in some cases, families are acting on outdated advice or relying on informal, DIY estate planning that doesn’t reflect current tax law or their asset mix.Other expensive mistakes to watch forThis mistake doesn’t exist in a vacuum. It’s often paired with others, including:Outdated wills or trusts that don’t reflect your current wealth or family structure.Unequal distributions that create resentment or even lawsuits.Uncoordinated assets, like forgetting to update beneficiaries on retirement accounts or insurance policies.Failing to plan for state-level inheritance or estate taxes, which vary widely across the U.S.If you haven’t reviewed your estate plan in the last few years — especially with the sunsetting of key tax provisions likely in 2026 — now is the time. Oftentimes people don’t know what they don’t know and professional help is necessary. This no-cost quiz from our partner, SmartAsset, makes it easier to find a fiduciary financial advisor.How to protect more of your moneyProtecting your wealth starts with proactive planning. That means:Working with an estate attorney and CPA to create or update a tax-efficient plan.Remembering that under gift tax rules the IRS allows you to give away up to $19,000 in 2025 in money or property to as many people as you like.Avoiding premature gifting of appreciated assets, unless it’s part of a larger strategic approach.Considering revocable trusts, which can streamline asset transfers and protect privacy.Communicating with your heirs about your wishes and how to prepare for their responsibilities.These steps aren’t just about saving money. They’re about passing on confidence, clarity, and continuity.Don’t let a technicality drain your life’s workThe best estate plans don’t just transfer money — they preserve it. And they do it in a way that minimizes friction, maximizes impact, and honors the values you worked so hard to build.Talk to a trusted advisor. Revisit your estate plan. The right conversation today could save your family a fortune tomorrow.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

You spent decades working hard and building wealth. But one wrong move in your estate plan could quietly undo a lifetime of smart decisions.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

It’s a mistake that’s shockingly common among affluent families. It doesn’t make headlines, but it does trigger massive tax bills — and it’s costing heirs millions every year.

The worst part is that most people don’t even realize they’re doing it.

If you’re serious about preserving your wealth, this is the one inheritance trap you need to avoid.

The silent killer of wealth transfers: Mismanaging capital gains

Let’s start with the culprit. The biggest inheritance mistake wealthy families make is transferring appreciated assets — like stocks, real estate, or business interests — too early.

When you gift these assets while you’re still alive, the cost basis for the gifted assets remains the same. That means they could owe massive capital gains taxes when they sell. But if those same assets are passed down after death, they typically qualify for a step-up in basis, resetting the value to the fair market price at the time of your passing and wiping out most or all of the capital gains tax burden.

In other words: Gifting early might feel generous, but it could leave your heirs with a huge tax bill they never saw coming.

A nearly half a million dollar lesson

Imagine you bought a vacation property decades ago for $250,000. Today, it’s worth $2.5 million. If you gift it now, you’re giving your loved ones that $250,000 basis. When they sell it, they could owe taxes on $2.25 million in gains — potentially a nearly $500,000 hit.

But if they inherit the property after your death, they get a step-up in basis to $2.5 million. If they sell it soon after, the tax liability could be close to zero.

That’s the difference between passing on an opportunity and passing on a burden. With our partner, SmartAsset, you can get matched with up to three fiduciary advisors so you can get professional advice.

Why this mistake keeps happening

Affluent families often want to help their children now, not later. Others might assume gifting while they’re alive simplifies the estate or avoids probate. Some people are simply unaware of the step-up rule or don’t realize how significantly it can reduce tax obligations.

And in some cases, families are acting on outdated advice or relying on informal, DIY estate planning that doesn’t reflect current tax law or their asset mix.

Other expensive mistakes to watch for

This mistake doesn’t exist in a vacuum. It’s often paired with others, including:

• Outdated wills or trusts that don’t reflect your current wealth or family structure.
• Unequal distributions that create resentment or even lawsuits.
• Uncoordinated assets, like forgetting to update beneficiaries on retirement accounts or insurance policies.
• Failing to plan for state-level inheritance or estate taxes, which vary widely across the U.S.

If you haven’t reviewed your estate plan in the last few years — especially with the sunsetting of key tax provisions likely in 2026 — now is the time. Oftentimes people don’t know what they don’t know and professional help is necessary. This no-cost quiz from our partner, SmartAsset, makes it easier to find a fiduciary financial advisor.

How to protect more of your money

Protecting your wealth starts with proactive planning. That means:

• Working with an estate attorney and CPA to create or update a tax-efficient plan.
• Remembering that under gift tax rules the IRS allows you to give away up to $19,000 in 2025 in money or property to as many people as you like.
• Avoiding premature gifting of appreciated assets, unless it’s part of a larger strategic approach.
• Considering revocable trusts, which can streamline asset transfers and protect privacy.
• Communicating with your heirs about your wishes and how to prepare for their responsibilities.

These steps aren’t just about saving money. They’re about passing on confidence, clarity, and continuity.

Don’t let a technicality drain your life’s work

The best estate plans don’t just transfer money — they preserve it. And they do it in a way that minimizes friction, maximizes impact, and honors the values you worked so hard to build.

Talk to a trusted advisor. Revisit your estate plan. The right conversation today could save your family a fortune tomorrow.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”How much interest did your bank pay you last year?Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. If the answer’s under $10…you might be using the wrong account setup.The truth is, most people are leaving easy money on the table just because they haven’t organized their bank accounts in a smart way. I used to be one of them. Now, my wife and I use a four-account system that keeps our spending, saving, and investing super clean.And we earned $798 in interest last year. Here’s our setup.How our four-bank-account system worksHere are the bank accounts we use and how we divide our money between them:Two checking accounts: Wifey and I each have a personal checking account at big banks (Bank of America and Chase) where our paychecks get deposited. It’s how we pay for groceries, bills, and everything in between. We try to keep minimal balances in these, because they earn almost zero interest.A high-yield savings account (HYSA): This is where our long-term savings and emergency funds are stashed. HYSAs earn way more interest than regular savings accounts. We use an online bank that pays nearly 10 times the national average. It’s our biggest earner as far as interest goes.A money market account: This account is tied to our brokerage with Fidelity. We used to do a lot of real estate investing and stored money here for short periods. Money market accounts also earn a high yield, so they’re great for parking cash. These days we don’t keep much here, but it’s really handy to move funds in and out of our investment accounts easily.Here’s how our money flows:First, paychecks land in our personal checking accounts.We have set up monthly auto-transfers that send savings directly to our high-yield savings and brokerage.All of our spending goes on credit cards (paid in full monthly), with payments pulled from checking.It’s simple, earns us interest, and keeps every dollar working.Why you need at least one high-yield savings accountIf you’ve got savings sitting in a basic checking account earning 0.01% interest, you’re missing out on easy money.A high-yield savings account (HYSA) pays significantly more and is FDIC insured for security. Today’s top HYSAs are paying up to 4.40% APY. That means $10,000 could earn $440 in a year, compared to just $1 in a traditional account.This is how my wife and I earned $798 in interest last year. We parked our $20,000 emergency fund in an online HYSA and watched the interest roll in month after month.Not using an HYSA right now? It’s time to put your dollars to work — Compare all the top high-yield accounts today, and start earning that interest!How many bank accounts do you actually need?There’s no “right” number of bank accounts. What matters more is how you use them, and where you keep your money.At a minimum, I recommend having one checking and one high-yield savings account. The checking is for day-to-day activity and managing cash flow, and the HYSA is for building up your savings and earning solid interest.From there, you can layer in more accounts as your financial goals grow. For example, more savings accounts for individual goals, sinking funds, or investing accounts for retirement savings.There’s no one-size-fits-all rule. But there is one rule I follow religiously: always put idle cash to work.Want your money to work harder? Open a high-yield savings account and start earning up to 4.40% APY today.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Bank of America is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America and JPMorgan Chase. The Motley Fool recommends Barclays Plc. The Motley Fool has a disclosure policy.”}]] [[{“value”:”

How much interest did your bank pay you last year?

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

If the answer’s under $10…you might be using the wrong account setup.

The truth is, most people are leaving easy money on the table just because they haven’t organized their bank accounts in a smart way. I used to be one of them. Now, my wife and I use a four-account system that keeps our spending, saving, and investing super clean.

And we earned $798 in interest last year. Here’s our setup.

How our four-bank-account system works

Here are the bank accounts we use and how we divide our money between them:

• Two checking accounts: Wifey and I each have a personal checking account at big banks (Bank of America and Chase) where our paychecks get deposited. It’s how we pay for groceries, bills, and everything in between. We try to keep minimal balances in these, because they earn almost zero interest.
• A high-yield savings account (HYSA): This is where our long-term savings and emergency funds are stashed. HYSAs earn way more interest than regular savings accounts. We use an online bank that pays nearly 10 times the national average. It’s our biggest earner as far as interest goes.
• A money market account: This account is tied to our brokerage with Fidelity. We used to do a lot of real estate investing and stored money here for short periods. Money market accounts also earn a high yield, so they’re great for parking cash. These days we don’t keep much here, but it’s really handy to move funds in and out of our investment accounts easily.

Here’s how our money flows:

• First, paychecks land in our personal checking accounts.
• We have set up monthly auto-transfers that send savings directly to our high-yield savings and brokerage.
• All of our spending goes on credit cards (paid in full monthly), with payments pulled from checking.

It’s simple, earns us interest, and keeps every dollar working.

Why you need at least one high-yield savings account

If you’ve got savings sitting in a basic checking account earning 0.01% interest, you’re missing out on easy money.

A high-yield savings account (HYSA) pays significantly more and is FDIC insured for security. Today’s top HYSAs are paying up to 4.40% APY. That means $10,000 could earn $440 in a year, compared to just $1 in a traditional account.

This is how my wife and I earned $798 in interest last year. We parked our $20,000 emergency fund in an online HYSA and watched the interest roll in month after month.

How many bank accounts do you actually need?

There’s no “right” number of bank accounts. What matters more is how you use them, and where you keep your money.

At a minimum, I recommend having one checking and one high-yield savings account. The checking is for day-to-day activity and managing cash flow, and the HYSA is for building up your savings and earning solid interest.

From there, you can layer in more accounts as your financial goals grow. For example, more savings accounts for individual goals, sinking funds, or investing accounts for retirement savings.

There’s no one-size-fits-all rule. But there is one rule I follow religiously: always put idle cash to work.

Want your money to work harder? Open a high-yield savings account and start earning up to 4.40% APY today.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Bank of America is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America and JPMorgan Chase. The Motley Fool recommends Barclays Plc. The Motley Fool has a disclosure policy.

“}]] Read More