First things first: I don’t believe in “get rich quick” schemes. In my entire career as a financial professional, I’ve never seen it happen—not sustainably, at least. The truth is, wealth takes time, effort, and discipline. That’s why I want to share a proven 10-year blueprint to building wealth. If you follow these steps, you’ll be amazed at the difference a decade can make.
1. Live on 70% (or less) of your income
If you can live on less, that’s even better! But this step isn’t just about cutting costs; it’s about earning more. Your ability to generate income is the single most important factor in your wealth-building journey.
How do you increase your income? Serve others. Find a need and fill it. Every business and employee exists to solve problems for someone. Get better at putting the needs of others ahead of your own, and your income will grow.
And if you notice specific needs at your workplace, in your industry, or in the world that require additional skills, licenses, or certifications to address, invest the time to acquire them. Doing the hard work now will pay dividends over the next 10 years.
2. Earn more interest than you pay
We’ve all heard the advice: “Get out of debt!” While that’s sound wisdom, the ultimate goal is simpler—make sure you’re earning more interest than you’re paying.
Avoid consumer debt like credit cards and car loans. High-interest debt is a wealth-killer. Instead, consistently save and invest your money in ways that earn you interest or returns. Even something as simple as a high-yield savings account can give you a head start. The principle is simple: When you’re earning, not paying, interest, your money works for you instead of against you.
3. Consistently invest in simple things
Let me say this loud and clear: It’s not about the latest cryptocurrency, tech startup, or that secret stock your uncle swears by. Those “get rich quick” ideas might sound exciting, but they rarely work out.
What works is consistency. Month after month, year after year, invest in proven, assets like low-cost index funds or diversified mutual funds. The S&P 500, for example, has delivered positive returns in virtually every 10-year period in history.
Is it glamorous? No. Will it make your friends jealous? Probably not. But it works. If you live on 70% of your income, avoid high-interest debt, and consistently deposit money into these tried-and-true investments, you will build significant wealth over the next decade.
4. Bonus Step: Buy a home as soon as you can afford it
Now, these first three steps are more than enough to get you on the path to wealth. But if you’re ready for some rocket fuel for your financial future, this bonus step is a game-changer: Buy a home as soon as you can afford it.
Here’s why:
Home values tend to increase significantly over a 10-year period. Look at Arizona, for example. Home prices over the last decade have skyrocketed, and the trend holds true for almost any 10-year stretch.
Homeownership creates a massive gap in net worth. Statistically, homeowners’ net worth is far higher than that of renters.
Don’t stress about timing the market. Rates and prices will always fluctuate. But this isn’t about getting rich quick; it’s about building wealth over the next 10 years. The sooner you can buy a home, the sooner it can start working for you as an asset.
The Bottom Line
Building wealth isn’t complicated, but it does take commitment. Live on 70% of your income, avoid consumer debt, invest consistently in boring (but proven) assets, and buy a home when you’re able. Stick to this blueprint for the next decade, and I promise you’ll be in a far better financial position than you ever imagined.
No shortcuts. No gimmicks. Just a proven, practical plan that works. Are you ready to get started?
