How to Make $300K and Still Be Broke:
- Jan 5, 2025
- 1 min read
By Marc Goodin CEO of Storage Authority www.StorageAuthorityFranchise.com
$300,000 income
Take-home pay after taxes: $230K (if you are lucky & have real estate tax deductions)
Monthly expenses:
Mortgage: $7K
Car payments: $2K
Student loans: $3K
Private school: $4K
Food/dining: $2K
Shopping: $2K
Travel: $1K
Monthly Total = $21/month = 252,000/year
Leftover: -$22,000.
But what does everyone else see?
• A $1.3M home
• A BMW and a Mercedes
• A high-earning job
• Kids at "elite" schools
.• Instagram photos galore.• Luxury vacations.
So many high earners are one missed paycheck from disaster.
Always remember: The most stable wealth is built quietly.
Self Storage, allows you to keep your current career and build your wealth quietly.
Send me an email for reading material to help you understand self-storage Development, Operations, and Sales & Marketing Storage Authority. Marc@StorageAuthority.com Don’t forget to check out our FAQ’s & Blog on our website for great information. www.storageauthorityfranchise.com
Cheers,
Marc
Ps don’t forget to sign up for our 1 hour webinar on the 12 keys to building a successful self-storage Jan 9, 2025, 10 am – 11am. Register here: https://us02web.zoom.us/meeting/register/tZIkceuspj0pGNe9dIy9sCkIhuR8bHeRXw3u#/registration
Pss If you want a 1 page summary of each of the 12 keys to self-storage success email me with “12 Keys” in the subject line. Marc@storageauthority.com
GLB to OBJ really highlights how a big salary can disappear quickly with taxes and lifestyle choices. The point about only taking home $230K after taxes on a $300K income is a stark reminder. It makes you think twice about those Instagram-worthy vacations.
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