From Aspiring to Achieving Mass Affluence: Strategies to Make the Leap

Because unspent money carries over from year to year, HSAs can help buffer you against future medical expenses — and help you manage medical expenses in retirement.

Diversify Beyond Retirement Accounts

Tax-advantaged retirement plans are powerful tools for growing wealth. But maybe you want to access some of the money before you retire. Or perhaps you're maxing out your tax-advantaged accounts and still have money to invest. Or perhaps you just want to add real estate that you own and manage into the mix.

Here are X ways to you can grow your hard-earned cash outside of tax-advantaged retirement plans.

• Brokerage accounts: These offer you the flexibility to invest in stocks, ETFs, mutual funds and even tax-efficient index funds. These taxable accounts provide access to a wide range of investment opportunities and liquidity for both short- and long-term goals.6 Work with a financial planner to decide which funds you should be holding within a tax-advantaged account and which will have the least impact on your taxes if held outside of such an account.
• Real estate: Rental properties can generate consistent cash flow, benefit from price appreciation and offer tax advantages such as depreciation deductions. Real estate can also be held within self-directed IRAs7 or LLCs for further tax and liability benefits.
• Annuities: Once your IRAs — and any 401(k)s, HSAs, and SEPs — are maxed, annuities can provide you with tax-deferred growth. While you pay for them with post-tax dollars — and pay tax on the gains when you withdraw — your money grows tax-free until you withdraw it. Just ensure fees and terms align with long-term plans.
• U.S. Treasuries: Adding U.S. Treasuries — whether T-Bills, T-Notes, T-Bonds, or TIPS — offers you highly secure, government-backed exposure that’s exempt from state and local taxes, enhancing your portfolio’s stability and income profile. You can buy Treasuries directly through Treasury Direct, banks, or brokers, and hold them even within self-directed IRAs or Solo 401(k)s to fortify your diversification strategy.

Build Your Advisory Team

Part of shifting your mindset includes recognizing when it’s time to bring in professional guidance. You may have hesitated in the past— unsure where to begin, concerned about the cost, or unsure whether your assets justified the expense. Whatever the reason, acknowledging that you don’t have to go it alone is a key step toward building long-term wealth.

Professional financial help is particularly crucial once you've achieved a certain level of savings — especially if you're now poised to save a lot more every year. Enlisting professional guidance early in this process can help you accelerate growth, reduce costly mistakes, and grow and maintain your affluence. 

Here's who you should consider having on your team and why — and how to find the right fit for your needs.

Certified Financial Planner

A financial planner is a professional who helps you manage your money, plan for long-term goals, and make informed decisions about investing, saving and retirement. You don’t need to be ultra-wealthy to benefit from one — in fact, working with a planner early in your journey can help you build wealth more effectively and avoid costly mistakes.

While Certified Financial Planners® (CFPs) are the most recognized, other titles like Chartered Financial Analyst (CFA) or Investment Advisor Representative (IAR) also indicate specialized expertise that you may need to reach your goals.8 Do your research to choose the right type.

Some banks offer planning services to clients who hold a certain balance across their accounts, so it’s worth asking what’s available through your financial institution.

Look for a fiduciary — someone legally obligated to put your financial interests ahead of their own — and ask how they’re paid: hourly, flat fee, or based on assets under management. Start by checking credentialed directories like the CFP Board9 or NAPFA10 to find a planner whose approach and pricing structure match your needs.

And once you identify a potential planner, be sure to ask yourself: Does this financial advisor understand — and believe in — my wealth goals? And will they help me meet them? If the answer is no, keep looking until you find someone who does. Not every planner is a good fit for every client.

Certified Public Accountant (CPA)

If someone in your family is self-employed or runs a small business, it's likely you're already working with a CPA. But if you're self-employed and still doing your own taxes, you could be missing valuable deductions or making costly filing errors. A CPA can help you stay compliant, reduce your tax liability and ensure you're building a solid financial foundation for both your business and your personal wealth goals.

If, on the other hand, you're simply working a traditional day job and paid on a W-2, you may have been opting to DIY your taxes to "save money." But as your income grows and your financial life becomes more complex — with investments, multiple accounts, or side income — it can pay to bring in a CPA. A good CPA can help you identify tax planning opportunities, ensure your filings are accurate, and advise you on how to structure your finances as your wealth increases.

A certified public accountant (CPA) is indispensable when tax complexity increases and during life transitions like starting a business, receiving an inheritance, or nearing retirement. Having a strong, ongoing relationship with a CPA you trust will help you navigate increasingly complex situations when they arise.

To find the right CPA, start by identifying your specific needs — like tax planning, investment guidance, or business support—and check credentials through the AICPA’s directory.11

Look for someone with experience serving clients like you, and don’t hesitate to ask about fees, communication style, and whether they offer proactive advice year-round.

Having the right experts on your team helps ensure that your financial plan stays on track and can adapt to evolving circumstances. It also enables you make smarter decisions — and protect your hard-earned wealth at every stage of your financial life.