Multimillionaire Kevin O’Leary advises the path to success is consistent saving and boring investing, not hustle culture. He stresses the power of small, frequent savings and index fund investing. O’Leary learned this lesson from his mother’s successful portfolio strategy of safe, consistent investing in large-cap mutual funds.

O’Leary suggests saving 15% of every paycheck and investing in a plain vanilla index fund to potentially grow wealth to 10 times your income. By saving $9,400 a year and investing in an index fund with a 9% return, you could accumulate about $620,000 in over two decades, following a simple, consistent approach.

To avoid derailing long-term financial plans, it is crucial to combat complacency and crisis. Setting up automated contributions can help maintain consistent savings habits, while having an emergency fund separate from your investment portfolio can prepare you for unexpected expenses or job losses. These structural solutions can improve wealth creation over time.

Read more at Yahoo Finance: Kevin O’Leary reveals the powerful payday tactic his mom used to build wealth. Make 10x your income without more work