{"id":114538,"date":"2025-11-02T20:28:43","date_gmt":"2025-11-02T20:28:43","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/114538\/"},"modified":"2025-11-02T20:28:43","modified_gmt":"2025-11-02T20:28:43","slug":"6-money-hacks-of-the-super-rich-that-you-can-try-too","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/114538\/","title":{"rendered":"6 Money Hacks of the Super Rich That You Can Try, Too"},"content":{"rendered":"\n

Just because you don\u2019t have access to millions of dollars doesn\u2019t mean you can\u2019t take advantage of the same money hacks the super rich do. There are plenty of strategies out there that can work for you, even if you earn an average salary<\/a>.<\/p>\n

Trending Now: Multi-Millionaire Says Timing the Market is Impossible \u2013 Here\u2019s What You Should Do Instead<\/a><\/p>\n

For You: 6 Subtly Genius Moves All Wealthy People Make With Their Money<\/a><\/p>\n

Check out these six money hacks of the wealthy<\/a> can help you out, too.<\/p>\n

Abid Salahi, finance expert and co-founder of FinlyWealth, said working with clients across different wealth brackets has revealed accessible financial strategies for all.<\/p>\n

\u201cBank bonus<\/a> harvesting mirrors how wealthy individuals maximize idle cash,\u201d he explained. \u201cMoving $5,000 between banks offering new account bonuses can earn $1,000 to 2,000 annually. Major banks like Chase and Citi regularly offer $200 to $500 bonuses for new accounts with minimal holding periods.\u201d<\/p>\n

Up Next: 10 Genius Things Warren Buffett Says To Do With Your Money<\/a><\/p>\n

According to Salahi, credit card reward stacking copies wealthy families\u2019 points maximization.<\/p>\n

\u201cCombining a 2% cash-back card for regular spending with targeted 5% category cards can generate $1,200 or more yearly on $30,000 spend,\u201d Salahi said. \u201cStrategic sign-up bonus timing adds another $1,000 to 1,500 annually.\u201d<\/p>\n

\u201cAs a certified public accountant, I\u2019ve helped numerous high-net-worth individuals streamline their financial strategies,\u201d said Nischay Rawal, certified public accountant (CPA) and founder of NR Tax & Consulting. \u201cOne notable hack is tax-loss harvesting.\u201d<\/p>\n

He said this involves selling underperforming investments<\/a> at a loss to offset capital gains taxes.\u00a0\u201cIt\u2019s a technique often used by the affluent, but anyone with a diversified portfolio can benefit from it, especially during volatile market periods.\u201d<\/p>\n

Salahi agrees that tax-loss harvesting isn\u2019t just for the rich.<\/p>\n

\u201cWhen index funds drop, selling and buying similar funds (like switching from S&P 500 to Total Market) locks in tax losses while maintaining market exposure,\u201d he said. \u201cThis strategy can offset $3,000 in ordinary income yearly.\u201d<\/p>\n

\u201cProperty tax appeals work at all price points,\u201d Salahi explained.\u00a0\u201cFiling an appeal with comparable sales data can reduce assessments by 5-15%. On a $300,000 home with 2% tax rate, this saves $300-900 annually \u2014 the same technique wealthy homeowners use on luxury properties.\u201d<\/p>\n

This is one of those hacks where it doesn\u2019t hurt to try, as the worst that can happen is you lose the appeal and are back where you started. However, the best that can happen is you win and it leads to major tax savings.<\/p>\n

Another strategy, according to Rawal, is utilizing retirement accounts for tax efficiency.<\/p>\n

\u201cHigh earners often max out contributions<\/a> to 401(k) plans and IRAs, taking advantage of any employer matching to build wealth while reducing taxable income,\u201d he said.<\/p>\n

He advises clients, regardless of their wealth level, to fully leverage their retirement accounts.\u00a0\u201cAs this not only secures their future but also provides immediate tax benefits,\u201d Rawal added.<\/p>\n

Zero-based budgeting<\/a> helps maximize savings like wealthy families do, Salahi added.\u00a0\u201cAssigning every dollar a job and reviewing subscriptions monthly typically finds $200-400 in monthly savings,\u201d he said.<\/p>\n

Salahi said this mirrors family office expense auditing at a smaller scale.<\/p>\n

More From GOBankingRates<\/p>\n

This article originally appeared on GOBankingRates.com<\/a>: 6 Money Hacks of the Super Rich That You Can Try, Too<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Just because you don\u2019t have access to millions of dollars doesn\u2019t mean you can\u2019t take advantage of the…\n","protected":false},"author":2,"featured_media":114539,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[81591,138,81596,246,81592,81595,111,139,81594,69,244,245,81593],"class_list":{"0":"post-114538","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-abid-salahi","9":"tag-business","10":"tag-certified-public-accountant","11":"tag-finance","12":"tag-financial-strategies","13":"tag-money-hacks","14":"tag-new-zealand","15":"tag-newzealand","16":"tag-nischay-rawal","17":"tag-nz","18":"tag-personal-finance","19":"tag-personalfinance","20":"tag-wealthy-families"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/114538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=114538"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/114538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/114539"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=114538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=114538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=114538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}