Jeff Bezos’ Siblings Turned $10K Into $1B: 3 Secrets to Successful Wealth Creation
Sometimes having a sibling with a brilliant business mind can pay off very well. Sometimes those gains come with significant risk.
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Just ask Jeff Bezos’ siblings. Mark and Christina took risks by each investing $10,000 in the early days of Amazon. According to Moneywise, Jeff made it clear to his siblings that their investments came with significant risks. It’s obviously an investment that has paid off well — it’s estimated the value of the siblings’ shares would have cleared the billion-dollar mark by now.
If you want to build wealth without a risky entrepreneurial investment or playing the stock market, there are a few options to consider. While you may not get as rich as Bezos’ siblings, you’ll set yourself up for a lifetime of increased wealth generation.
Invest in Real Estate
You may have considered investing in real estate to build wealth. After all, it is widely considered an inflation-resistant way to grow wealth. It’s also quite a popular choice when people are asked about ways to make some serious money. According to CNBC, real estate was the most popular response in a survey of tactics to grow wealth.
Let’s be clear — investing in real estate comes with its own risks and may require a great deal of work to purchase properties and then take care of them. But there are platforms to help make it easier, including Arrived, which is backed by Jeff Bezos.
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Consider Your Business Options
If you have a knack for business, there are some other options that you may not have considered to build wealth. Whether you invest in a small business or start your own, Yahoo! Finance listed both options among top ways to become rich without putting your money in stocks.
Look at Your Retirement Accounts
Here’s an option that many workers overlook in building wealth. According to Yahoo! Finance, “If you have an independent retirement account (IRA) and maximize your contributions, it’s possible to build substantial wealth.” The same is true if you have something like a 401(k).
If you’re open to it, consider exploring some nontraditional options when it comes to an IRA. For example, according to Moneywise, one option is investing in precious metals within an IRA. Doing so can come with tax benefits and help you avoid the ups and downs of the stock market.
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This article originally appeared on GOBankingRates.com: Jeff Bezos’ Siblings Turned $10K Into $1B: 3 Secrets to Successful Wealth Creation
