3 savvy strategies advisors recommend stealing from the rich — are you secretly robbing yourself of your fortune and future?

There are close to 24 million millionaires in the U.S., according to the UBS Global Wealth Report 2026. A millionaire is defined as having a net worth — your total assets minus your total debts — of a million dollars or more.

Becoming a millionaire isn’t out of reach. But carrying high-interest debt, falling prey to lifestyle creep and not fully understanding your tax liabilities could be holding you back from achieving this financial milestone. Here are three savvy strategies you can steal from the rich — so you don’t risk your fortune and future.

1. Live within your means

Most millionaires don’t live in sprawling mansions, drive flashy cars or live a lavish lifestyle. Indeed, many live a rather frugal lifestyle.

The National Study of Millionaires by Ramsey Solutions found that 94% of millionaires live on less than they make and nearly three-quarters have never carried a credit card balance.

As your income grows, it’s tempting to spend more — a phenomenon known as lifestyle creep. So, for example, maybe you start buying premium brands instead of store-brand groceries. You start dining out more, or you trade in your vehicle for a more expensive model.

“One financial strategy that anyone can model, regardless of income, is being intentional about spending and avoiding lifestyle creep,” Nate Hobson, vice-president of sales for the Advisor Network at Mutual of Omaha, told Moneywise.

“Many people think financial freedom comes from making more money, but in reality, your spending typically rises right alongside your income if your habits don’t change.”

Lifestyle creep is real, Hobson said, and most long-term financial success comes from small day-to-day decisions — not large, one-time moments.

“I always tell people there are really only two ways to save more money: make more income or spend less money. That’s why in the early stages of getting your finances on track, I encourage people to spend below their means,” he said.

“Once you’ve met some financial goals, you can start spending at your means, which leaves very little room to overspend.”

Faron Daugs, founder and CEO of Harrison Wallace Financial Group, told CNBC Select that his wealthiest clients reduce and eliminate their debt. “If you want to build wealth, you cannot waste money on paying interest on consumer credit, such as credit cards and even car loans,” he said.

Follow this advice by paying off your credit card balance in full each month (only spend what you can pay off). And, if you’re already carrying a large balance, prioritize paying down high-interest debt through the snowball or avalanche method.

2. Invest and diversify

Most millionaires don’t keep all their eggs in one basket. Instead, they diversify, spreading their wealth among different types of investments, from stocks, bonds and cash equivalents to real estate, private equity, precious metals and other alternative assets.

But diversification also means diversifying among industries and geographies.

John Grace, a registered representative with LPL Financial, told Moneywise that “there’s always a bull market somewhere.”

For example, while 29% of Americans watch baseball, 93% of India’s 1.5 billion-and-growing population are crazy about cricket, he told Moneywise.

He points to the Blackstone Private Equity Strategies Fund (NYSE: BX), which has seen an average annual return of around 19% since its inception in 2024. The fund includes a $1.8 billion cricket franchise: the Royal Challengers Bengaluru team, part of the Indian Premier League.

Grace says the 2023 to 2027 media rights cycle “is the most valuable sports league in the world by per-match value, second only to the NFL.”

Future outlook: “Cricket is officially slated to return to the global stage as an Olympic sport at the 2028 Summer Games in Los Angeles, which should further boost its mainstream visibility at home,” he said. “Didn’t soccer blow up on this side of the pond? Cricket is next.”

Along with diversification comes patience.

In The National Study of Millionaires, not a single millionaire said single-stock investing was a major factor in reaching their net worth. The secret? It’s much more boring than that: three out of four (75%) millionaires attributed their financial success to regular, consistent investing over a long period of time.

A general rule of thumb is to save 20% of your monthly income and put it toward savings, retirement and investments (depending on your goals). If you don’t have an emergency fund — enough to cover at least three to six months of expenses — a portion of that 20% should go toward building one.

If you set up automatic transfers from your paycheck or checking account into an investment account, then you can “set it and forget it.” If you have irregular income, try to set aside 20% of each check when it comes in.

3. Understand tax rules

We all have to pay income tax, but the wealthy use smart strategies to reduce their taxable income — such as choosing tax-efficient investment options, leveraging charitable donations for tax deductions or using tax-loss harvesting to offset gains.

For example, contributing to tax-advantaged accounts like 401(k) plans, individual retirement accounts (IRAs) and 529 college savings plans can provide tax deductions and/or tax-free growth (depending on the account type).

And contributions to Roth IRAs are made with after-tax dollars, so you can make tax-free withdrawals on your contributions at any time and tax-free withdrawals on your investment gains once you reach age 59 ½ (so long as your account has been open for five years).