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4 Steps to Big Wealth

Did you know there’s a simple formula to generate tremendous wealth for yourself over time? There are just four simple steps.

Like most things in life, though, you shouldn’t confuse “simple” with “easy.”

In fact, the four-step formula to gaining tremendous wealth is riddled with landmines that can blow up – or at least dramatically slow down – the wealth-creation process. But if you successfully navigate around those pitfalls, you can nearly be assured that you will build more wealth than you thought possible.

I’ll share the formula momentarily, but let’s first pause for a quick public service announcement.

I am a firm believer in having a reason for wealth. Without a reason, why go through the effort? As I’ve said many times before, building wealth for wealth’s sake is a perfectly ridiculous goal. That approach leads to one thing: disappointment.

No matter how great you think it would be – or how much better you would feel – to have some big sum of money, the dream is always better than reality. Money and wealth are not the basis for a happy life.

And yet, there’s nothing wrong with money and wealth. For some people, they seek wealth for security – not only for themselves but for their family. For others, wealth is means for giving freely to charity. Having a reason for wealth is the key.

Okay, end of the public service announcement.

With that out of the way, what is this simple four-step formula for building wealth?

1. Make money.

2. Spend less than you make.

3. Invest the difference.

4. Repeat for decades.

It’s that simple. If only it were easy.

Take step one for example. Aside from health reasons, nearly all of us have the ability to make money. But making a lot of money – however that’s defined – supercharges the process. Not everyone makes “a lot” of money, though. For those who are working hard but earning little, the wealth-creation process can be stunted before it even starts.

What about the second step? Driving a fat wedge between what you make and what you spend is a terrific way to accumulate big wealth. Living below your means is a superpower. But step two snags would-be-wealth-creators on a regular basis. It doesn’t matter if you are great at step one, making $1 million dollars a year, for example, if you have created a life in step two that requires exactly $1 million in expenses to live comfortably.

Step three is no easier. Investing your savings, if done correctly, compounds your wealth like no other. It can feel like magic. You may even get to a point where your money is making more than you would ever care to spend. But investing involves risk. That means this step can wipe out more wealth quicker than you can imagine. Step three can be hell on your psychology. I would hazard to guess more missteps are made in step three than all the other steps combined.

Finally, when you nail the first three steps, the fourth step becomes a turbocharger for your wealth. In fact, at some point, going back to step one of the formula is no longer necessary. Your wealth just creates more wealth without you having to do anything. When you reach that point, your main contribution becomes sitting back and avoiding an unnecessary interruption of the process.

That’s when you know the formula worked.

There’s nothing complicated about it. Yet, few will follow all four steps consistently. Fortunately, you can still be enormously successful, even if a few mistakes are made along the way.

Building big wealth isn’t for everyone. But if that’s your goal, follow the formula. It works.

Justin Lueger is President of Invisor Financial LLC, a registered investor adviser firm in the State of Kansas. All opinions expressed are his own and should not be viewed as individual advice. He can be reached at

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