The recipe boils down to three powerhouse principles:

1. Skyrocket your income.

2. Slash your spending.

3. Supercharge your money’s output.

Let’s break these down with actionable tactics to turbocharge your financial ascent.

1. Supercharge Your Income

If you’re racing the clock, cranking up your earnings is your best bet. Too many underestimate how doable it is to double their income—yes, even if you’re already a high earner like a surgeon pulling 60-hour weeks. It’s not a cakewalk, but it’s within reach. The foundation? Combine top-tier education with a high-paying skill or profession. More income means more ammo for saving and investing.

Boost Your Clinical Paycheck

In any medical field, income swings can dwarf the gaps between specialties. The 2024 Medscape Compensation Survey pegs pediatricians at $260,000 and orthopedists at $558,000 on average—yet I’ve met outliers in both camps doubling those numbers. Their playbook includes:

• Owning the practice to capture bigger profits.

• Overseeing other providers (doctors or mid-levels) to multiply revenue.

• Logging extra hours to ramp up production.

• Specializing in lucrative procedures or patient types.

• Curating a premium payer mix (think private insurance over Medicaid).

• Negotiating like a shark with insurers and employers.

These moves take grit, but they can transform your take-home pay.

Launch a Bold Venture

Entrepreneurship is a wild card with massive potential. When COVID shook up incomes, countless doctors pivoted to side hustles, passive income ideas, or full-on businesses. There’s no universal formula—every trailblazer carves their own path—but when it clicks, it’s a rocket boost to financial freedom. My wife and I cut nearly a decade off our timeline by founding The White Coat Investor. For Wealthy Brainiacs with an entrepreneurial itch, this could be your shortcut.

Merge Investing with a Hustle

Franchisees and real estate moguls love flaunting returns that crush passive investments, often forgetting to mention the elbow grease involved. That’s okay—view it as a second job layered onto an investment. The extra cash flow speeds you toward your goals, whether you’re flipping houses or running a small operation. Just don’t kid yourself about the “passive” label.

2. Slash Your Spending

Cutting costs lacks glamour, but it’s a Wealthy Brainiac-approved powerhouse move. It’s risk-free, requires no extra hustle, and frees up capital for wealth-building. Here’s your toolkit:

• Save early and often. A dollar stashed in your 20s or 30s balloons eight times by your 50s via compounding.

• Lock down fixed expenses. Modest housing and car costs let you adapt fast when life gets rocky.

• Dodge wealth drains. Oversized homes or flashy rides derail your progress—prioritize the big stuff.

• Live frugally, splurge wisely. Spend on what lights you up, but if cash isn’t an option (except for a house), pass. For homes, aim for 20% down and a 15-year mortgage.

• Partner smartly. Marry someone who syncs on money, kids, faith, and intimacy—and stick it out. Divorce torches wealth.

• Master credit cards. Use them for ease, not debt. High interest or repeat fees? Cut them loose.

Spending less works double duty: you invest more today, and you need less tomorrow to maintain your vibe. Pair this with juiced-up earnings, and you’re cooking with gas—check Mr. Money Mustache’s FIRE chart for proof.

3. Make Your Money Hustle

Your savings are your wealth-building co-pilot. In a capitalist world, capital can outpace your own labor—if you wield it right. First, get savvy: devour books like Personal Finance for Dummies, The Bogleheads’ Guide to Investing, and Why Smart People Make Big Money Mistakes. Then live these Wealthy Brainiac principles:

• Grab market gains. Default to index funds with a set allocation.

• Shrink tax bills. Max out 401(k)s, IRAs, and know the tax code basics.

• Slash fees. Low-cost investments keep your gains intact.

• Crunch the numbers. Master compound interest, time value, and risk/return. Excel’s FV and XIRR are your allies.

• Streamline. Automate bills and investments; trim accounts.

• Shift focus over time. Early savings rate rules; returns grow critical near and post-retirement, thanks to sequence risk.

• Map it out. A written plan keeps you sharp—DIY it, take a course, or hire a fee-only pro.

Now, let’s get tactical with ways to crank your money’s engine. These aren’t freebies—they’re accelerators for the impatient.

Skip the Advisor Tax

Ditching advisory fees can save years. Picture two doctors, each saving $50,000 yearly, targeting $2.5 million, earning 5% after inflation. One pays a 1% fee; the other goes DIY. The fee-payer hits the goal in 28 years; the self-manager, 25.7—a 2.3-year edge. Competence is your leverage here.

Embrace Calculated Risks

A gutsier portfolio can lift returns. Vanguard’s 1926-2018 data shows:

• 100% stocks: 10.1%

• 80/20 stocks/bonds: 9.4%

• 60/40: 8.6%

• 40/60: 7.7%

Bump from 60/40 to 80/20 (3% inflation), saving $50,000 annually, and you reach $2.5 million in 23.1 years versus 24.5—a 1.4-year win. Catch? Volatility. Panic-selling in a dip could backfire. Riskier picks like small-cap stocks or real estate can amplify this, but don’t bank on history repeating.

Wield Leverage Wisely

Borrowing turbocharges gains—and flops. Buy a property cash and it doubles? You 2x your money. With 20% down, it’s 6x (minus loan costs). A 20% drop? Cash loses 20%; leverage wipes you out. Near retirement, cap debt at 15-33% of assets (e.g., $300,000-$667,000 on $2 million), per Value of Debt. Overstretch, and you’re toast.

Trim the Legacy

Most unintentionally leave heaps to heirs—real estate, home equity, or 4% withdrawals often grow nest eggs. To exit sooner, spend smarter:

• Grab a Single Premium Immediate Annuity (SPIA) for steady income, zero inheritance.

• Burn savings early, delaying Social Security to 70.

• Unlock home equity by downsizing or reverse mortgaging.

• Tap life insurance cash value.

It’s your dough—choose your finish line.

Flex Your Spending

Adaptable retirement costs shrink your target. If variable expenses rule, you can weather market dips and spend past 4%, retiring earlier with less saved.

Skip the Dice Roll

Some bet big on lotteries or crypto-heavy portfolios (think 50% Bitcoin). It might hit, but it’s a long shot. Wealthy Brainiacs stick to the surer path.

4. Safeguard Your Wins

Building wealth is half the battle—holding it is the rest. Insure against disasters (life, disability, property), self-insure minor hits with a cash buffer, and stay healthy to dodge medical bills. Later, consider SPIAs or long-term care insurance. Avoid insurance-investment mashups like whole life—they’re sales traps. Hire experts to educate, not just execute, and vet advice with impartial eyes.