You: So what’s the real secret? I’m not talking about what you publicly advocate. How about sharing what you and all the other experts are really doing when no one else is watching? C’mon Michael—let me in on the real deal.


You: I’m a loyal reader of your blog, I read your book, I’ve seen you live – maybe all three.

Thank you.

You: So tell me.

Won’t do it. Still, you could probably find 100 other ways to get the answer you want to hear from other books, blogs, magazines, and “free” seminars. But despite the hype, none can possibly deliver on the typical premise of guaranteed quick wealth.

You: That would guaranteed quick wealth easily and with no risk.

Of course.

You: But why not? Why can’t I achieve quick easy wealth with no risk?

Because finance doesn’t work that way (exception: heirs of multi-million dollar trusts.) But there is some good news.

You: Finally.

I do believe there is one “guaranteed” way to become wealthy. But it takes much longer than the four-hour workweek during which many people suddenly believe all necessary tasks can be accomplished.

You: I’d be happy to work more than four hours each week to become wealthy.

My way isn’t measured in hours or weeks. It’s long-term.

You: Months?


You: Argh. Years?

Not really. More like decades. Look, I know it isn’t sexy and my position ensures I’ll never land on any magazine covers, but it is total candor.

You: So what’s your way to become wealthy?

It’s a simple two-step process. Here’s the lengthy details of my two-step program:

  1. Spend less than you make.
  2. Repeat step 1.

You: That’s it?

That’s it. Do it for a just a few weeks and you’ll find your net worth increasing. Do it for many years and you’ll find yourself becoming wealthy.

You: Why will that ridiculously simple approach work?

Because every time you spend less than you make, the extra money allows you to either pay off some existing debt or increase your assets. Either one of these maneuvers increases your net worth. Over time, the impact is dramatic.
Furthermore, as you gain control over your financial life, getting the mail becomes enjoyable.

You: Why?

You see your credit card statement balances decrease. You also see your bank and brokerage account balances increase. This combination makes you healthier, both financially and emotionally.

You: What else?

Be skeptical of aggressive salespeople, guaranteed investments, and other “sure things.” Just focus on standard investment approaches and legitimate financial planning techniques. Remember the best and most important step is the first step.

You: Right. Start saving today.

You’re getting the hang of this.

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