10 Ways To Build Wealth Fast

Wealth-building is a process that generally takes time. Although the idea of becoming an overnight millionaire is appealing for many, especially for those working on savings plans and retirement accounts, the only real way to get rich overnight is an inheritance or a lottery win.

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Ironically, the best way to build wealth “fast” is to chart out a prudent path toward long-term gains. The quicker you can start saving and investing, the faster your money will compound, which is the true magic behind growing wealth over time.

Here are 10 ways you can grow your net worth, achieve your financial goals and put some extra money in your savings account as rapidly as possible without taking on undue risk.

The S&P 500 index doesn’t guarantee profits, but it’s proven itself time and time again to be a tremendous generator of long-term wealth. In fact, most investors are surprised to learn that the “risky” stock market has never lost money over any 20-year rolling period.

And yet, the long-term average return of the S&P 500 is north of 10%. This means the S&P 500 index has a tremendous risk/reward profile over the long run. Even legendary investor Warren Buffett, the “Oracle of Omaha” himself, has directed his trustee to keep 90% of his money in an S&P 500 index fund after he passes.

Dividend-paying stocks may seem like a slow and boring way to build wealth, but they are one of the best ways to tap into a solid and growing source of income

The so-called “Dividend Aristocrats” are large, well-known companies in the S&P 500 index, like Coca-Cola and McDonald’s, that have raised their dividends for at least 25 years in a row. This means that those who bought these companies 25 years ago are earning huge effective yields on their original investment amount.

Combined with the potential for capital gains, the Dividend Aristocrats can be a great way to build wealth. As of early 2025, the highest-paying dividend stock is Walgreens Boots Alliance Inc. (WBA) with a yield of 10.7%.

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One of the key ways to build wealth fast — and over the long term — is to earn passive income. And one of the best ways to generate passive income is to own one (or several) rental properties.

With a well-managed rental property, you’ll receive a steady stream of income every month, with little additional effort required on your part. While you’ll have to find tenants to move in and will have to deal with occasional maintenance issues, your income will essentially be on autopilot.