Years ago I remember reading Robert T. Kiyosaki’s book, “The Cash Flow Quandrant”.
It was a useful and interesting book. My takeaway was simple and, I believe, fundamental concept core to the book’s message.
Most people take their income and spend it almost entirely on expenses. That is, they spend it on things that have little or no value within a short time after purchase. Call these “depreciating assets”. Their money is gone.
There is a clever minority, which put much of their income into things that get worth more over time (capital gain) or produce an income.
Example of depreciating assets = Cars, excess clothing, trendy new tech.
Example of appreciating assets = House and land, truck used for small part-time business, stocks, savings accounts and other investments.
Minimalists by nature, avoid accumulating stuff (another word for depreciating capital assets) so they need to find something to do with their excess income. Besides supporting causes they believe in, they will typically invest their money. Which grows. Which, in time, can make them financially rich. Very rich.
The kicker is that, by nature of being minimalist, they have likely already accumulated the things that truly make them rich, which isn’t money. That’s just a bonus.