Everyone wants to get rich fast. And yeah, it can happen. Some people sell a startup at the perfect moment, make a once-in-a-lifetime trade, or even hit the lottery. But let’s be real – most of that comes down to luck.

You know what’s almost guaranteed? Getting rich slow. And here’s the crazy part: that’s exactly how most wealthy people do it. They follow a simple but powerful formula: earn, invest, and let time do the heavy lifting.

The goal isn’t to look rich. Forget yachts, designer watches, and blowing money to impress people. True wealth is about something much simpler: not having to worry about money.

And the best part? Anyone can do this – if they’re willing to play the long game. Or as Charlie Munger famously put it: "The big money is not in the buying and the selling but in the waiting."

The younger you are - the more it matters

If you’re in your 20s or early 30s, this is especially relevant for you. Why? Because your biggest advantage isn’t money – it’s time.

It’s much easier to save and take smart risks before things like a mortgage, kids, or other major responsibilities start stacking up. But even if you’re in your 40s, 50s, or beyond, the same principles apply. The earlier you start, the easier it gets.

Compound interest is either your best friend or your worst enemy. The sooner you get it working for you instead of against you, the less effort it takes to build real wealth.

So let’s break down exactly how to get rich slow.

1. Get a job. Yes, really.

There’s a lot of noise online about quitting your 9-to-5 to become an entrepreneur, but here’s the truth: you need income first.

A job isn’t just a paycheck – it’s a launchpad. It teaches you how to manage money, develop skills, and build a network. Even if you dream of working for yourself (which I highly recommend), starting with a stable income makes everything easier.

Key takeaway: Your job is your first investor. Treat it as a stepping stone, not a life sentence.

2. Invest 50% of your income

If you’re young and don’t have major expenses, saving and investing 50% of your income can set you up for life. But let’s be honest - that’s not always doable.

The key is to be as aggressive as you reasonably can. Take advantage of your flexibility before mortgages, kids, and other obligations kick in. And no matter what, never let your savings rate drop below 10%.

Where should you invest?

Keep it simple. Set up automatic investments into:

  • Index funds (S&P 500, world funds, etc.)
  • Entire-sector ETFs (technology, healthcare, energy, etc.)
  • Real estate (directly or via REITs)

Don’t try to time the market. Just be in the market.

Key takeaway: Save as much as you realistically can, but don’t stress. Just never go below 10%.

3. Be frugal – without being cheap

Frugality doesn’t mean depriving yourself. It just means spending intentionally.

Many people who look rich are drowning in debt. Meanwhile, genuinely wealthy people focus on:

  • Buying high-quality things that last
  • Avoiding lifestyle inflation
  • Prioritizing investments over status symbols

Key takeaway: Spend on things that genuinely add value to your life. Ignore the rest.

4. Follow the 3-hobby rule

You should always have three hobbies:

  1. One that keeps you creative (writing, music, coding, art)
  2. One that keeps you in shape (gym, running, hiking, sports)
  3. One that makes you money (side hustle, investing, business)

That last one? It might just turn into your full-time income one day.

Key takeaway: Hobbies aren’t just for fun – they can be your biggest wealth-building tool.

5. Life insurance is not just for death

Most people think of life insurance as something that only matters when you die. But smart people know it can be way more than that.

With the right policy, you can:

  • Borrow against it while it keeps growing
  • Access tax-free money later in life
  • Use it as a safety net while keeping investments intact

It’s not death insurance – it’s life insurance.

Key takeaway: Life insurance isn’t just about protection – it’s a financial tool.

Great catch! I’ll add the Buy, Borrow, Die strategy as section #6 in both the blog post and the newsletter. Here’s the updated version:

6. borrow against your assets, don't sell them

Keeping on the theme as the life insurance, the truly rich don’t sell their assets - they borrow against them. Here’s why:

  • Loans aren’t taxable
  • Your assets keep growing
  • You never trigger capital gains taxes

This method, also known as "Buy, Borrow, Die", gives rich people cash to live on while their investments keep growing. Then, when they pass away, their heirs inherit everything with a step-up in cost basis - meaning the original capital gains tax bill disappears.

Key takeaway: Never sell appreciating assets. Borrow, invest, and repeat.

7. Get a skill you can always monetize

This might be the most important advice here.

I don’t consider myself rich, but I never worry about money. Why? Because I’ve followed many of these principles (some of which I wish I had learned earlier), and I have a skill that people pay for.

No matter what happens in the economy, you'll always have options if you have a valuable skill. Learn to code, market, write, sell, or analyze data – something that businesses and people need.

Key takeaway: Your best investment is in yourself.

8. Learn the difference between good debt and bad debt

Not all debt is bad. There’s good debt and bad debt:

  • Good debt: Anything that grows in value (real estate, business loans, skills that increase income).
  • Bad debt: High-interest consumer debt (credit cards, car loans for luxury vehicles, financing gadgets you don’t need).

Key takeaway: Debt is a tool. Use it wisely.

Final thought: Play the long game

The path to wealth is simple, but it’s not easy. It takes patience, discipline, and a long-term mindset.

The best part? Anyone can do this.

Start early, stay consistent, and remember:

"The big money is not in the buying and the selling but in the waiting."
– Charlie Munger

So why not start today?