By Marc Goodin
Becoming Rich is simple at any salary with discipline and consistency.
Whenever I want to buy something over $100 (A fishing pole, a car, a pair of shoes, or RV etc.) I save double that amount. And then I bought the item I invested the same amount of money. The key was I had to save the amount needed for the purchase after I decided I wanted something. In other words, I could not use previous savings.
Early on the only exception was our home mortgage. Now even home our cottages are paid in full when purchased – no more interest money to the bank. This game plan helped me save about 25% of my paycheck each year. And it is amazing how many times I saved the money and decided I did not need or want the item.
Rich is not wealthy.
Being rich for, most of us, means earning $150,000 to $200,000 a year. You are living a comfortable life and working at paying off all your debt before you retire.
Wealthy, for most of us, means an investment income (not W2 income) at least double the rich investment income above and zero personal debt.
I became rich via my 50-hour-a-week job, and a side job of buying, repairing, and renting old homes and duplexes. My side job took about 8 hours a week. And as noted t above the key was to save, save, save & invest.
I became wealthy from self-storage.
I said I would never retire from the engineering business I loved. But at age 50 my self-storage income was nearing double my engineering/side income and growing. I could not help myself and retired. I worked about 4 hours a week watching over all my investments. Being wealthy is having the money and time to enjoy it.
I have to point out that some of us need something other than to relax, play, and hang out 24/7. We enjoy building/running a business and it's part of our DNA. We may do it for the rest of our lives. After 5 years of retirement, I needed more. And that’s when Storage Authority franchise was born!
Do you want to have a 15-minute call to learn how Storage Authority helps improve the systems, sales, marketing, and profits at your existing facility? If you are building from the ground up let's also review how we help you find land and get your facility designed, approved, and built. Please send me an email or call me – no appointment is needed:
marc@StorageAuthorityFranchise.com or 860-830-6764
Get more information on Storage Authority Franchise at www.storageauthorityfranchise.com/opportunity3
Marc Goodin is the President of Storage Authority Franchising. www.StorageAuthorityFranchise.com He owns 3 self-storages he designed, built, and manages. He has been helping others in the self-storage industry for over 25 years. He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answer your franchising, development, marketing, sales, and operations questions. His best-selling self-storage books are available on Amazon.