{"id":25936,"date":"2026-02-25T02:03:46","date_gmt":"2026-02-25T02:03:46","guid":{"rendered":"https:\/\/finderica.com\/?p=25936"},"modified":"2026-02-25T02:03:46","modified_gmt":"2026-02-25T02:03:46","slug":"building-wealth-6-strategies-from-real-cfps","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=25936","title":{"rendered":"Building Wealth: 6 Strategies from Real CFPs"},"content":{"rendered":"
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The investing information provided on this page is for educational purposes only. SS, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.<\/span><\/span><\/p>\n

Say you\u2019re a high earner, specifically a HENRY. You\u2019re doing everything that common financial guidance tells you to do. You have an emergency fund in a high-yield savings account. You have at least three to six months of living expenses in there, because layoffs are real. <\/span><\/div>\n

You\u2019re contributing enough to your 401(k) to get your employer match. Maybe you\u2019re even maxing out your 401(k). <\/span><\/p>\n

You don\u2019t have high-interest debt, or you\u2019re working on a strategy to pay it off. <\/span><\/p>\n

What\u2019s next? <\/span><\/p>\n

Wouldn’t we all like to know? I’ve worked at SS for almost six years and I don’t have the answer. But I talked to some certified financial planners and found some ideas. <\/span><\/p>\n

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1. Think beyond the 401(k)<\/h2>\n<\/div>\n
If you have more money available to invest, you can do a backdoor Roth IRA and contribute $7,500 in 2026 if you\u2019re under age 50, says Jovan Johnson, a certified financial planner and certified public accountant at Piece of Wealth Planning in Atlanta. You can contribute $8,600 if you\u2019re 50-plus.<\/span><\/div>\n
If you have a side business, you can look into opening up a solo 401(k) that you can contribute to as the employer, he says.<\/span><\/div>\n

\u201cYou can max out two retirement plans at the same time,\u201d he says. \u201cYou can stash a lot.\u201d<\/span><\/p>\n

\u201cSometimes people will come to me and they say, \u2018Well, I have all these student loans. Should I just put all of my money towards the student loans and not put any money into savings or investments or retirement?\u2019\u201d says Adrienne Davis, a Bowie, Maryland-based CFP for Zenith Wealth Partners. <\/span><\/p>\n

\u201cAnd that’s when I say, \u2018Absolutely not.\u2019 We want to make sure that we are still preparing for the future.\u201d<\/span><\/p>\n

Lazetta Rainey Braxton, a CFP based in New Haven, Connecticut, says prepping for the future means diversifying your investment vehicles.
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<\/span>\u201cI really really want all of my HENRYs to have a taxable brokerage account,\u201d says Braxton, founder of The Real Wealth Coterie.<\/span><\/span><\/span><\/p>\n

The goal of a brokerage account is to let your money grow, Braxton says. Your emergency fund is your first line of defense if you need cash. But a brokerage account is there if you need it to start a business, buy a house or retire early, for example. <\/span><\/div>\n

Investing in the stock market through a brokerage account is something too many people shy away from, Johnson says. Social media influencers have made it seem like getting rich can be fast and easy, he says. But securing the big bag is usually a long game.<\/span><\/p>\n

\u201cThe majority of the wealth has been built through generations,\u201d he says. \u201cIt takes time.\u201d <\/span><\/p>\n

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3. Consider stacking your income <\/h2>\n<\/div>\n
Johnson says a lot of his HENRY clients stack their income doing consulting work on the side. Some invest in REITs. He encourages clients to consider buying a franchise to get another income stream flowing. <\/span><\/div>\n
Real estate is another popular income stacking method. Some HENRYs buy houses and become landlords. Some buy houses and flip them for profit. Some buy homes and turn them into vacation rentals. <\/span><\/div>\n

\u201cIf you want to have property, that\u2019s a good way to pass on wealth,\u201d says Naima Bush, a Northern Virginia-based CFP and chartered financial consultant for Fruitful Advisory. <\/span><\/p>\n

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4. Watch that lifestyle \u2026 creep, creep, creep <\/h2>\n<\/div>\n

Say you get a raise or bonus. You\u2019re eyeing a new luxury car. Do you want the $1,500-a-month car note that goes with it? That\u2019s money that could be invested, Davis says.<\/span><\/p>\n

Even small things bought regularly can add up. You might love that $45 Fenty Beauty body butter, Bush says. But do you really need<\/span> it?
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<\/span>\u201cIt\u2019s OK to have the Trader Joe\u2019s or the lower-cost brand,\u201d she says. <\/span><\/span><\/span><\/p>\n

A financial advisor can help you find ways to treat yourself within reason, she says. For example, Bush is a Beyonce fan. If her client wants to go see the queen on tour, she doesn\u2019t say no. They\u2019ll work together on a spending plan to make sure the ticket money is ready.
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<\/span>Johnson is also a fan of enjoying your dollars. When you get that bonus, pay yourself a percentage, 10% for example, he says. Then put the rest toward wealth building or paying down debt.<\/span><\/span><\/span><\/div>\n

\u201cThe easiest way to avoid lifestyle creep is to allow a little bit of lifestyle to creep,\u201d he says. <\/span><\/p>\n

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5. Set boundaries and find balance<\/h2>\n<\/div>\n

Most of the CFPs I talked to, like me, didn\u2019t learn much about money growing up. <\/span><\/p>\n

And many HENRYs are first-generation wealth builders, Bush says. <\/span><\/p>\n

That can come with pressure to provide for family members.<\/span><\/p>\n

If helping relatives is important to you, most of the CFPs advocate setting boundaries. You can allot a certain amount for giving, Davis says, and when it\u2019s gone, it\u2019s gone.<\/span><\/p>\n

Johnson says boundaries can seem easy to set, but hard to maintain. <\/span><\/p>\n

\u201cLets be honest, we\u2019re all human,\u201d he says. \u201cEven for me, I don\u2019t see a situation where I say, \u2018I\u2019m going to put myself first,\u2019 and not help my mom.\u201d<\/span><\/p>\n

Braxton says some of her high-earning clients live frugally to balance long-term care for aging parents. You just have to be honest with yourself and your advisor about how you want to live and spend your money.<\/span><\/p>\n

\u201cWhat are the non-negotiables?\u201d she says. \u201cWhat would hurt your heart if you weren\u2019t able to do it?\u201d<\/span><\/p>\n

A part of wealth building that\u2019s too often forgotten is estate planning, Braxton says. At minimum you need a will and designated beneficiaries on all your assets, she says. <\/span><\/div>\n

Beyond that, she says, your heirs should know enough about money to maintain what you\u2019ve built. <\/span><\/p>\n

Johnson says he\u2019s seen people inherit a life insurance lump sum, and within a year, it\u2019s spent.
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<\/span>\u201cAll the wealth can be gone really quickly if the knowledge isn\u2019t passed down with the money,\u201d Johnson says.<\/span><\/span><\/span><\/p>\n

Both Braxton and Johnson tell parents to start early teaching kids about credit, debt, spending, saving and investing. <\/span><\/p>\n

Braxton opened a 529 account when her now 20-year-old daughter was born. As her daughter grew, so did the diversity of her accounts. <\/span><\/div>\n

That\u2019s what she wants for more children, she says.<\/span><\/p>\n

\u201cI want them to have a savings account, checking account. I want them to have \u2014 when they start working \u2014 a Roth IRA account,” she says. \u201cI want them to have a brokerage account. I want them to have them all.\u201d<\/span><\/div>\n
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