It sounds like an unlikely story: a homemade millionaire getting rich from the average salary. How is this possible in this era? Sometimes it all comes down to shrewd money-and busyness.
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Gobankingrates spoke with Daniel Meursing, CEO and founder of Premier Suffer, a luxury event staffing agency that works with everyone from Ferrari to Oscars to discuss the steps he took to reach his millionaire status.
“Everything ever wondered if anyone went from having a $5 ramen dinner to rubbing their elbows with Hollywood elites?” Mursin said. “But don’t let glitz and glamour fool you – my path to success is paved with momentary noodles and a lot of hustle and bustle.” ”
Keep reading to learn about his steps to get there.
“Picture: It was in 2019, when I bent over my laptop in a small apartment, driven by instant noodles and big dreams. I had only $4,000 in my pocket (less than a Louis Vuitton handbag for our current event staff), and I launched the Premier Premier staff,” Meursing said.
In the first few years of his founding of a senior employee, he was a loan officer at EZ Fundings Home Loans, earning a decent but absolutely average salary. “But it’s the kicker – it’s about how much I make, but about how I use it.”
He explained that the first step in his journey to millionaire is to embrace frugality, just like outdated fashion.
“I live in a shoebox apartment, driving a car that's more rusty than metal, and become a connoisseur of the dollar menu. It's as charming as a pair of socks at a black tie event. But it allows me to save over 50% of my income.”
He continued, “But Daniel, ‘I hear you say, ‘It sounds painful!’ Of course, sometimes I ask about my sanity, like I find the trash bin dive slightly second-hand office chairs instead of buying new ones.
View: The number one way Americans become millionaires is boring – and easy to do
According to Meursing, investing is where real magic really happens.
“I treat my savings as if they were the last lifeboat of the Titanic – precious rather than wasted. I first learn to invest and see it as a second job,” he said.
At first, he started with index funds, maximizing his 401(k) and IRA.
“But I didn't park there. I looked at individual stocks, looked at market trends, and even got into real estate. Remember the rusty bucket of that car? Well, I used the money I paid for my first rental properties that I never paid for.”
But, again, it is not all smooth sailing.
“I made a mistake. Just like the time I invested in the 'Cosse'Cosse' tech startup, it turned out to be as successful as the screen door on the submarine. But I learned from every setback, adjusted my strategy and moved forward.”
While working as a loan officer, Meursing was also illuminated by moonlight as a server in high-end activities to establish another source of income.
“This not only provided a filler for my savings account, but also gave me the idea of serving the Prime Minister. I saw a gap in staffing for luxury events in the market and decided to fill it.”
He added: “But it's the real secret sauce – I didn't quit my daily job right away. For months, I worked as a loan officer as a 9-5, 6-10 construction prime minister staff, planning my financial future for the rest of the time. Sleep became a luxury I couldn't afford, like those like Gucci shoes, like those Gucci shoes, I can now serve champagne.”
Meursing explained that the real turning point was when he landed his first big client.
“It's a small fashion event on Rodeo Drive – not exactly Met Gala, but to me it feels like I've played the jackpot. I poured every ounce of energy to make it successful, like I was equipting the Oscars with people – I barely knew that would come out later.”
He said an event led to recommendations, which led to even bigger events.
“Unknown to me, the Prime Minister’s staff is the go-to agent for luxury events in Los Angeles. We have provided parties for Will Smith’s family, kept the elegant party at the Emmy Awards ceremony, and even helped Justin Bieber celebrate his birthday. But as the business grew, I have been living, like me, I have been living like this loan officer.”
He added that every dollar added can only return to business or invest.
“It’s like in real life of monopoly, I landed here every property I bought.”
The journey of millionaire status is not a sprint, but a marathon – Messing said the finish line has been moving.
“I’ve been learning, adapting and looking for new opportunities. Whether it’s exploring new markets – we’re focusing on the security staffing industry – or finding a more efficient way to run a business, I’m never going to have a break from Laurel,” he said.
“I still remember my net worth outlining seven numbers. I sat in the office – this time a real person, not a corner of my studio apartment – looking at the book. It was black and white. I was a million-dollar. Did I pop champagne and bought a sports car? No, I celebrated a bunch of slightly caring Raman and later on the job.”
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This article originally appeared on gobankingrates.com: I'm a homemade millionaire: 6 steps I took to be rich for the average salary
