I couldn't disagree more with this. From experience I can talk about building wealth, and I will not give you concrete data about quantities because you will have no way to check if I am telling the truth but according to my experience building wealth is a simple process, following a boring plan as follows:

1) Control income and expenses.
2) Spend less than you earn.
3) If you have consumer debt, get rid of it as fast as you can. And never get into consumer debt again.
4) Increase your income and get different sources of income.
5) Invest, invest, invest.

This is in line with the two most comprehensive studies on millionaires that have been done to date: The Millionaire Next Door and Everyday Millionaires.