Bernard Salt: get rich slow. Su­san Kurosawa: hasta la vista.

The Weekend Australian - Life - - FOOD & WINE - BERNARD SALT saltb@theaus­tralian.com.au

I have a cun­ning plan to get rich. Can’t say too much. Don’t want to give away my in­tel­lec­tual prop­erty. Oh all right, if you in­sist, but you must prom­ise not to say a word.

You know how spruik­ers push get-rich-quick schemes? Well I’m go­ing to join their ranks. I’d be a good spruiker. Com­fort­able in front of an au­di­ence. Per­son­able. Self-con­fi­dent. I’ll make a killing.

But my spruik­ing would be dif­fer­ent from other spruik­ing. Whereas other spruik­ers want you to get rich quick, my plan is to spruik how to get rich slowly.

I’d even write a book: Bernard Salt’s Se­crets to Slow Wealth. I’d do the talk shows. I’d cre­ate a pop­u­lar move­ment where get­ting rich slow is all the go.

Here’s how you do it. Get a job and, when you get paid, put some money aside. That’s right: do not spend all money earned. Spend a lot but not ev­ery­thing. Are you with me?

I know this is a con­fronting idea so let me take you through this slowly. Let’s say you earn $100. Al­lo­cate $90 to liv­ing and put $10 into an ac­count that is never touched. I call this do-not-touch money “sav­ings”. No, it’s not money to spend later. No, it’s not money for spe­cial oc­ca­sions such as your birth­day or to cheer you up be­cause you’re feel­ing sad or to spend on a hol­i­day be­cause, well, you only live once.

Con­tinue this process week af­ter week, year af­ter year, and you will find that like magic th­ese sav­ings grow. Then, af­ter you buy a house, pay ex­tra off the mort­gage ev­ery week.

What do you mean, where does the “ex­tra money” come from? It comes from liv­ing ex­penses; cut down else­where to make ad­di­tional pay­ments. How clever is that!

Wait. Here’s the good bit. While pay­ing down the mort­gage and rais­ing a fam­ily and con­tin­u­ing to put even more sav­ings aside to build a buf­fer in case some­thing bad hap­pens, you also — you are go­ing to love this — put even more money into su­per­an­nu­a­tion.

Isn’t this bril­liant? You can see why I’m so ex­cited. No one has thought of this be­fore, which is why I am so con­fi­dent about my ca­reer spruik­ing the se­crets to slow wealth.

Now I know what you’re think­ing. You’re think­ing: get­ting rich slow can’t be that sim­ple, can it? Oh yes it can my friends, oh yes it can. (See, I sound like a spruiker al­ready.) But you’re also kinda right. There is a catch. Here’s the se­cret to my slow wealth pro­gram … shhh. Come close. Closer! I’m go­ing to whis­per. This is just be­tween you and me.

When oth­ers are flit­ting here and flit­ting there; when oth­ers are go­ing out to din­ner and wear­ing nice clothes and look­ing oh-so-smart, here’s what you do. You do … noth­ing. You don’t give into temp­ta­tion. You stick at your job and con­tinue with your sav­ings plan. Post­pone grat­i­fi­ca­tion and make sac­ri­fices now so as to garner an even greater re­ward later.

I’m sorry, what was that? You don’t do sac­ri­fice? Oh, I see, well that is a bit of a prob­lem be­cause that’s cen­tral to the whole slow-wealth phi­los­o­phy.

No wor­ries, I’m sure there are plenty of peo­ple out there who do in­deed do sac­ri­fice and who will pos­i­tively lap up my spruiker spiel of sac­ri­fice to­day for re­ward to­mor­row.

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