Money expert reveals three simple lifestyle changes that will help ANYONE amass a $1 million fortune - no matter how low their salary

A financial advice expert has shared his advice for how anyone can amass enough money to become a millionaire by retirement - no matter how much they are currently earning.

Ramit Sethi, 41, gives financial advice on his YouTube channel, where he boasts nearly 500,000 subscribers.

In a new post, he shared three strategies that could help someone 'become a millionaire' on a 'low salary,' describing three 'levers' that you can 'pull and push to wealth': including time (or 'how long you invest for'), 'how much you invest' and 'investment returns.' 

At the core of the first three recommendations was taking advantage of 'time' given the principle of compound interest in investment accounts.

Ramit Sethi, 41, gives financial advice on his YouTube channel, where he boasts nearly 500,000 subscribers.

For instance, on a $50,000 salary, putting aside 15 per cent for 30 years, which is $7,500 annually, would add up to $743,849 assuming a seven per cent return and low 0.1% fee.

Doing that for just four additional years, 34 years in all, would nudge the total up to $1,006,939.

'The real gains come at the end, not at the beginning,' Ramit emphasized.

'The lesson here: Don't put off investing.

'In fact, every single day you are not investing aggressively you are losing a tremendous amount of money because time and compounding are on your side.'

As for the second lever, it's 'how much you invest' on regular intervals, the more frequent the better. 

'If you invest $425 a month, or basically $14 a day, starting at the age of 25, you will easily be a millionaire by the time you're 65,' he pointed out. 

He also suggested increasing the investment rate by one per cent every year; so, year one would see five per cent of one's income invested, the next year would see six per cent, and so forth.

He also stressed, 'because it's a percentage,' as you make more money, you will also invest more money.

'It's a beautiful rule to have in your financial life.' 

He also recommended keeping housing and car expenses low, 'so you can invest more.'

A second income stream from a spouse would also help push this 'lever' further - as would taking most of the pay increase from any pay raise and investing it rather than spending the extra cash, he added.

With that, based on the assumption that one's salary will get higher in one's thirties and forties, people should get in the 'habit' of stashing their money in investment accounts in their twenties.

He stressed that people have three 'levers' in their control when it comes to investing: time, amount of money over time, and investment returns

For the third and final lever, Ramit stressed 'investment returns.'

He went on to explain that the 'real return' on market investments since the introduction of the Standard & Poor's index in 1957 is roughly eight per cent on average, taking inflation into account. 

'There is one thing that will alter your and that's paying fees,' he continued, such as when you pay a financial advisor one per cent annually of your returns.

Ramit instead recommended paying a flat fee or an hourly rate - but 'never a percentage' to a financial advisor. 

When managing your own investments, 'look for low management fees or expense ratios and you'll be in a pretty good place,' said Ramit. 

Numerically, a 'good management fee' is 0.2% or lower.

After going over the 'three levers,' Ramit continued on to illustrate a point that will 'make or break your financial journey.'

That factor is, essentially, what the math doesn't show.

'Money is deeply emotional,' he admitted.

'We learn about homey from our parents. We hear phrases in our head that they said 30 years ago, "We can't afford it."

'Even when people start to make more money, they often still play small.

'Now it's okay that money is emotional.  But I want you to understand your attitude and behavior towards money.

'A lot of times people are frustrated that they don't make a lot of money - or they make a lot of money, they can't figure out where it's going,' he went on.

Ramit admitted there are 'lots of reasons' that people still come up short when it comes to finding money to invest for one's long-term future.

'We are often taught that in order to get rich, we've got to have 30 screens with all these ratios running down the screen and we need to pick stocks.

'That's just not real investing. That's day trading, that's gambling. 

'Investing is boring. It's not entertainment. You want to be entertained? Get a dog,' he emphasized.

'Real investing is like watching paint dry. That's why when I realized I had a million dollars, or even more than that... I didn't feel it here,' he said, touching his heart.

'But I did feel it here when I was able to be super generous. When I was able to buy something I truly love. When I was able to take a trip with my loved ones and experience a moment of awe.

'That's when a million dollars has meaning.'