A self-sufficient individual investor reveals three adjustments to consider this year for growing your wealth

How Erik Smolinski Achieved Financial Independence

• Erik Smolinski has accumulated a net worth in the millions through nearly 20 years of investing.
• As a professional trader, he outlines three practical strategies for anyone aiming to grow their wealth in 2026.
• His advice centers on increasing savings, anticipating future trends, and boosting income.

Erik Smolinski began his investment journey early, thanks to encouragement from a high school teacher who suggested he invest his earnings from part-time jobs in the stock market. He started young and has remained committed ever since.

Now in his early thirties, Smolinski—a Marine Corps veteran and full-time trader—considers himself financially free, with a verified seven-figure net worth, according to Business Insider’s review of his trading account records.

He maintains that building wealth doesn’t require complex tactics—just a strong understanding of a few essential principles.

Here are the three key actions Smolinski recommends for anyone looking to increase their wealth this year:

1. Increase Your Savings by 10%

Smolinski believes that accumulating wealth begins with retaining more of your income.

He told Business Insider, “Aim to save an extra 10% each month. That’s a great initial target for most people.”

He points out that even minor adjustments to your spending habits can have a significant impact over time.

For instance, he suggests, “If you’re subscribed to both Netflix and Disney Plus, consider canceling one and putting the savings into your investment account.” He adds, “The more you’re willing to postpone gratification now, the less you’ll need to do so in the future.”

2. Anticipate the Future

Smolinski encourages investors to regularly reflect on this question: How do you envision the world in the next three to five years?

He describes himself as someone who favors growth and innovation, believing that people and companies will continue to advance and create more value.

He then considers which sectors or industries are likely to benefit most from these changes and adjusts his investment portfolio accordingly.

“Make sure your investments align with your expectations for the next few years,” he advises, noting that he is personally optimistic about artificial intelligence.

3. Focus on Growing Your Income

While saving is crucial, Smolinski stresses that increasing your earnings is equally important, especially in the early stages of wealth building.

He recommends asking yourself, “What steps can I take to earn more money?” and making this a priority until you are close to reaching your financial objectives.

With a higher income, you have more opportunities to save and invest, which can accelerate your path to financial independence.

Additional Tips for Boosting Your Earnings

Smolinski suggests two main ways to raise your income: seek a promotion or pay increase at your current job, or launch a side business.

The more proactive you are about saving and increasing your income, the sooner you’ll achieve financial freedom. That’s when, as Smolinski puts it, “you get to start enjoying the things that truly matter to you.”

At that point, you can devote your resources—time, energy, and money—to what you genuinely value.