10 Things People Would Do With $100,000 to Accumulate Wealth

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While browsing my favorite internet forum, I discovered an intriguing question. Someone asked, “If you have a 100K today, what would you do to accumulate wealth?” Here are the top-voted responses. 

#1  Investor Education

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Image Credit: IgorVetushko /Depositphotos.com

“I would read Millionaire Teacher, take the Vanguard risk assessment and buy and hold an asset allocation Electronic fund transfer (ETF) matching your risk tolerance and time horizon,” one person commented. 

“Books like Millionaire Teacher (Hallam) and Reboot Your Portfolio (Bortolotti) contain nearly everything one needs to know,” another person responded. 

Related Article: Can You Spot A Wealthy Person In Your Circle? 10 Subtle Signs

#2  Start a Business or Personal Project

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Image Credit: IgorVetushko /Depositphotos.com

“I would look into starting a business or a personal project that generates income. But, for a long time, I have always focused on how to invest the after-tax income I have to generate the best gains.”

“Once I realized that my income could be grown through personal projects or income-generating ideas. It allowed me to see that looking into increasing your income is a part of accumulating wealth if you don’t have decent capital to play with,” one person said.

Related Article: Is Your Net Worth Below the Nation’s Average for Americans?

#3  Registered Retirement Savings Plan


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“RRSP contributions become more valuable as you move to higher tax brackets, so if you expect your income to increase in the future, max out your Tax-Free Savings Account first (TFSA). You can also save for your downpayment in the TFSA since you can withdraw at any time without losing the contribution room,” suggested one. 

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#4  Find a Like-Minded Partner

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Image Credit: DGLimages /Depositphotos.com

“Settle down with a partner with the same financial goals and motivation as you. Many other suggestions are good, but this one is a real drag. If you’re with someone you have to support or, even worse, is racking up a bunch of bad consumer debt, you can very quickly undo all of your efforts,” one person suggested.

#5  Start / Diversify Your Portfolio

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“The answer for most people is a portfolio of low-cost stock and bond index funds (ETFs) alongside investor education and discipline.”

“The secret isn’t really in learning about the products (e.g., VGRO) but in understanding how they work in the context of the markets and developing the inner peace to leave the thing alone while it grows your wealth,” another shared.

#6  Passive Income Businesses

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Image Credit: ArturVerkhovetskiy /Depositphotos.com

“Buy ten street hotdogs or food carts and hire part-timers to staff them 24/7 at high foot traffic zones. Get passive income for life. Resell carts/ business when retire,” one person suggested. “Buy ten laundromats. Get passive income for life. Resell washing machines/ business when retire,” another added.

#7  Guaranteed Investment Contract

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Image Credit: mitchdhutchinson /Depositphotos.com

“If you have nothing to invest in, do a six-month to one-year Guaranteed Investment Contract (GIC) in your TFSA. It’s better than nothing,” said one person. “I just put $50k in a GIC. While I figure out what to do with the rest of my inheritance. 4.5% doesn’t beat inflation, but I don’t know what else to do now. All debt is gone,” said another person.

#8  Tax-Free Savings Account

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“My priority would be maxing out the TFSA,” one person said. “Your Tax-free savings account (TFSA) should be renamed a tax-free investing account. I forget where on Reddit, but a few years back, someone completely broke down what a TFSA is. If I knew what to invest in, I’d be a wealthy man,” someone replied.

#9  Purchase a Home

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Image Credit: AndrewLozovyi /Depositphotos.com

“A few years ago, I saved up 100k. I used it as a downpayment on a townhouse in Guelph to use as my primary residence. Property value has increased since, and I have a stable shelter. No regrets. Try looking at what financial goals will add to your quality of life instead of trying to max out the return on investment,” another user said. 

#10  High Dividend Stocks

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Image Credit: Gesrey /Depositphotos.com

Finally, someone shared, “High dividend stocks. Max out TFSA and RRSP afterward. High dividend stocks will net 8% to 9% per year, paid out monthly, so you can keep reinvesting, aka compounding interest.”

What do you think? Did Reddit get this right, or is something significant missing from the list? Also, check out these subtle signs of a wealthy person

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Pri Kingston

Ash & Pri are the Founders of AshandPri.com and have spent the last decade building their way towards financial freedom and a lifetime of memories. Having successfully achieved their early retirement goal in under 10 years, they look forward to sharing their financial sense with like-minded people. Read more about Ash & Pri in the 'About Us' section.