Hello everyone! I wanted to share a blog article about three ways that I have not yet truly discussed (except for one) for what products I am currently using to help increase wealth. These three products I use every single day and believe YOU could truly benefit from using their application/product.
As we all know, if there is any way to help increase your wealth, income or financial position – I am all over it. In addition, I rarely write articles about products, but when I REALLY feel like there is a benefit to everyone and anyone – I have to share! Ready to make money and increase your wealth?!
Now, before we dive in – anytime you are in search of what products the Dividend Diplomats use – don’t hesitate to jump over to the Financial Freedom products page. We share there the applications we use and investing platforms we trade on – such as Fidelity for Bert and Ally for Lanny.
However, there are THREE applications that I (Lanny) have been SO excited about here in 2021. These 3 applications I have used in 2021 have made, saved and created money for me.
1.) SoFI Money Application
You better believe it! I have been a HUGE user and believer in SoFi – the modern, personal, innovative Fintech company and application!
Sign-Up Rewards they offer:
- $10 just to sign up for the APP! – Literally, not even adding funds or using the application, you can receive $10 just for signing up/registering on the app!
- $50 sign up bonus for Investing within the App! – Yes, you receive a $50 bonus for adding $1,000 to the Investing application, by using this link. That’s the equivalent of 5% right away on your money. PLUS, as you’ll see below, trading is free and you have the ability to trade partial shares, crypto currency and the like.
- $10 to trade $10 in Crypto – Yes, within the Investing side of the application, they will give you $10 on your first $10 cryptocurrency trade.
- 4% Cash Back on their Credit Card – For signing up, you can start with 4% cash back on their credit card; if you are within the app, you can earn 3% for the first year, as well.
I will say, just for signing up for platforms – I have earned over $120 in registration perks. That’s not even including the additional kickbacks they provide you, that I’ll share below. SoFi’s platform is very unique. Why is that? Well…
SoFi’s application has the ability to keep you in their web of services – such as: Money (earn now 1.00% APY), Investing seamlessly within the app (Free trades, fractional shares, cryptocurrency), external account management, read investing articles, manage your credit card (3% current promo and 4% cash back promo using the link above) and even your credit score.
Here are a few quick, but important reasons on how I’ve not only added wealth/money but also why I thoroughly enjoy using their products!
1.) SoFi Rewards Point System: SoFi rewards you points that you can redeem for money or investing, which 1 point = $0.01, respectively. You can earn points for performing simple tasks such as: Sign in 7 days in a row = 10 points. Read articles 3x per week = 1 point for each article. Have recurring deposits into investing or in your money account – 50 points.
You can set an automated feature each week or month to redeem your points to investing or savings. You can also redeem manually at any time.
I have earned already 1,184 points for using services over the last few weeks, see my screen shots below:
2.) SoFi’s app is intuitive and SIMPLE to use. This is by far the best finance app I have used to manage money, investing, etc.. You are able to receive a direct deposit 2 days early, you can investing with the touch of the screen – either buying a # of shares or a simple $ amount worth. There is a web they create for you – so everything relates – I am tracking my property and mortgage loan – which are not on SoFi through the app, as they pull in data from your bank and from online on the valuation of the home. SoFi has been a great way to track and build wealth.
Here is a screen shot of my personal home page. I’ve started to add more to my accounts here but they have a great “relay” feature (which earns you more points, the more external accounts you connect) that allows you to see other external accounts. Therefore, this app tracks everything from your net worth, credit score, investing, etc..
3.) SoFi Investing – Yet another simple and easy way to invest. You can buy whole shares or fractional shares, at no cost. You can therefore – buy $5 or $500, without having to have enough for a full share. Essentially, they took this page out of Robinhood’s (HOOD) book. In addition, they offer rewards for recurring deposits into their investing app – always a plus, which again – you can in turn use for more investing or saving. Here’s a breakdown of their “Stock Bits” Feature.
There you have it – don’t hesitate to ask any questions on the SoFi app – I am here to help! I have thoroughly loved and enjoyed their offerings and modern tech platform! However, let’s move onto the 2nd product.
2.) Blockfi to Earn up to 8%! AND…Yotta Savings
Blockfi – Earn up to 8%
You could say this is FOUR applications, but I had to discuss BlockFi – an application for Cryptocurrency, but also allows you to have an Interest Account, that can earn you up to 8% right now on your money in their stablecoins (i.e. a coin anchored/pegged to a currency – such as the US Dollar).
I have over $7,000+ into Gemini USD (GUSD), pegged to the US Dollar on this crypto application. I do this, as it’s, in my opinion, the lowest risk way to save and invest in what they call stablecoins. Here is a snapshot of my BlockFi interest account for my GUSD holding that earns me 8%, accruing daily!
The BlockFi application took seconds and I was earning 8% in no time. The interest is reinvested on the 1st business day of the month. This has been a great slick application and has been a fairly low risk way to earn a WHOPPING 8%! If you are interested in earning 8%, definitely sign up here for BlockFi <– you can receive up to $250 in Bitcoin if you do sign up, as well! An easy to way to increase wealth in 2021 and 2022!
Next on the list… Yotta Bank baby!
Yotta Savings
This one will be fairly straight forward. Yotta Savings is a SUPER-Fun and could be a SUPER-HIGH Yield way to earn money on your idle cash/savings! For every $25 you deposit into Yotta Savings, which is FDIC insured up to $250K, you receive one “ticket” for the lottery, up to $10,000. Each $150 on deposit after $10,000 receives you an additional ticket. The question you may have is – what are these lottery tickets?
First, the Yotta Savings is a 0.20% savings platform, as a base. However, these lottery tickets allow you to earn MORE on top of your savings. Each ticket has 7 numbers that you can select or that the platform can auto select. Each night a new number is drawn. Based on what you match on your ticket throughout the week, can bring you different prizes – even a Tesla for Pete’s sake:
So hypothetically, if you had $10,000 saved, you can have 400 tickets each and every week, as they replenish each week based on how much you have on deposit. I’ve personally had a few $10 matches so far, which is 3 gold balls and 1 red-Yotta (Sunday night) ball. Here is how I’ve performed through August 2021:
Keep in mind, Ally earns you only 0.50%, so I am earning almost 4x that amount for my emergency cash. That is pretty much why I am using this account, to keep it liquid with zero risk. We are saving money for a down payment and this has helped “juice” the interest earned on this idle cash.
In addition – they have fun ways to earn even more tickets each week, such as:
a. Referral Program – They have different tiers of referral level at Yotta based on how many you refer:
Bronze: 0-2 Referrals – You receive 100 bonus tickets for each referral
Silver: 3-5 Referrals – You receive 300 Bonus tickets for reaching this level PLUS 150 tickets for each referral
Gold: 6-9 Referrals – You receive 600 Bonus tickets on Yotta for reaching this level PLUS 200 tickets for each referral AND 5% extra tickets each week!
Platinum: 10+ Referrals – You receive 1,000 Bonus tickets on Yotta for reaching this level PLUS 250 tickets for reach referral AND 10% extra tickets each week!
b. Direct Deposit – 20% bonus tickets on your first direct deposit; 5% bonus tickets on subsequent deposits; if you have the Yotta Debit Card – you’ll also have 2x better chance of a free purchase when using your Yotta Debit Card
c. Yotta Debit Card – 10% tickets back for every $10 you spend. Spend $2,000 in 4 months, you receive 1,000 bonus tickets. Lastly – you have a chance of Yotta covering one of your expenses!
In total, I have easily been earning well over 1.50% while using my Yotta Savings Account. Definitely sign up if you are interested in earning more on your savings AND have fun with the lottery ticket game!
3.) Fundrise
There was NO QUESTION I had to bring Fundrise into the mix here!
If you haven’t seen my recent Q2-2021 Fundrise Investment Update article – definitely check that out here.
I have been using Fundrise since February/March 2019, almost 2.5 years. Why do I continue to invest $200 per month with Fundrise and have contributed an extra $4,000 this year on top of my monthly contributions alone? The Skinny:
1.) Consistent Returns: We are expected to return over 11% this year with Fundrise. They have always produced a positive year, regardless of what’s happening. In addition, their returns DO NOT correlate with the EQUITY REIT index, which is exactly why I love Fundrise.
2.) Diversification: Fundrise provides a level of diversification by owning true real estate and not being publicly traded on the stock market. This allows your overall net worth to have lower risk, as the eggs are not all in one or two baskets (cash, stocks/equity).
3.) Transparency: Fundrise consistently provides updates at and on each & every transaction. This could be a new real estate they acquire or a new update on a construction project that is now a stabilized 400-unit apartment complex. There is not a day that goes by where I don’t see some form of transparent update from Fundrise.
Here is a snip of my overall investment return for investing into real estate on the Fundrise platform:
Like what you see? Then definitely check out the Fundrise website and see our reviews linked at the Freedom Products page, as well. I typically perform a review or an update on Fundrise 2-4 times per year and would strongly recommend!
Conclusion on Financial Products to Generate Wealth
There we have it, folks! Three products I have been HEAVILY using in 2021 that has easily created more wealth for my wife & I this year. As you know, again, I would never endorse a product I do not use but I have given these applications/platforms of SoFi, Yotta and Fundrise plenty of time to really know that I will be using them for the long-term. I strongly recommend each and everyone of them, hopefully one of them suits you own on your financial freedom journey!
Let me know which financial products you already do use. Are you already investing on Fundrise? Caught in the financial freedom web with SoFi or earning more on Yotta? Share your feedback below!
Lastly, thank you for stopping by, as always. Here to help YOU on your financial journey!
-Lanny