Take These 5 Steps To Become Rich on a Mediocre Salary
If every time you gaze out the window all you can dream of is dollar signs, it might be time to take a few realistic steps out of fantasy land to make your wish of becoming rich come true. It turns out you don’t even need a six‑figure income, startup equity or a crypto miracle to build real wealth from what started as a mediocre salary.
Daniel Meursing, CEO and founder of Premier Staff, a luxury event staffing agency that's worked with everyone from Ferrari to the Oscars, discusses the steps he took to achieve his millionaire status.
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"Ever wondered how someone goes from eating $5 ramen dinners to rubbing elbows with Hollywood's elite? Buckle up, because I'm about to take you on a wild ride through my journey from average Joe to self-made millionaire." Meursing said. "But don't let the glitz and glamour fool you -- my path to success was paved with instant noodles and a whole lot of hustle."
Here are five realistic steps to become rich on an average salary, especially in 2026, where high costs make smart systems more important than ever.
Step 1: Live Far, Far Below Your Means
In order to start a gradual shift in the right direction, you need to lock your lifestyle expenses far below what your paycheck will cover. This is non-negotiable, and if you think of your raises as tools not treats, your expenses will feel like they’re getting smaller.
"Picture this: It's 2019, and I'm hunched over a laptop in a tiny apartment, fueled by instant noodles and big dreams. With just $4,000 in my pocket (less than the cost of one Louis Vuitton handbag at the events we now staff), I launched Premier Staff," Meursing said.
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Just a few years before founding Premier Staff, he was a loan officer at EZ Fundings Home Loans, making a decent but decidedly average salary. "But here's the kicker -- it wasn't about how much I made, it was about how I used it."
He explained that the first step in his journey to millionaire status was embracing frugality like it was going out of style.
"I lived in a shoebox apartment, drove a car that was more rust than metal, and became a connoisseur of the dollar menu. Was it glamorous? About as glamorous as a pair of socks at a black-tie event. But it allowed me to save over 50% of my income."
Step 2: Invest Like Your Retirement Depends on It
Hint, hint, it does. You don’t need to be a finance expert to build wealth, you just need to be consistent. Slow, boring investing wins because time does most of the work, not brilliance, and according to Meursing, investing is where the true magic really happens.
He said, "I treated my savings like they were the last lifeboat on the Titanic -- precious and not to be wasted. I dove headfirst into learning about investing, treating it like a second job."
At first, he started with index funds, maxing out his 401(k) and IRA as to not leave any future money on the table.
"But I didn't stop there. I researched individual stocks, studied market trends, and even dabbled in real estate…I made mistakes. Like the time I invested in a 'can't miss' tech startup that turned out to be about as successful as a screen door on a submarine. But I learned from each setback, adjusting my strategy and pressing forward."
Step 3: Make Side Hustling Your Main Hustle
You don’t get rich by skipping coffee. You get rich by managing the expenses that dominate your budget, and padding your income. While working as a loan officer, Meursing also moonlighted as a server at high-end events to bring in some more cash.
"This not only padded my savings account but also gave me the idea for Premier Staff. I saw a gap in the market for luxury event staffing and decided to fill it."
He added, "But here's the real secret sauce -- I didn't quit my day job right away. For months, I worked 9-5 as a loan officer, 6-10 building Premier Staff, and whatever hours were left planning my financial future. Sleep became a luxury I couldn't afford -- kind of like those Gucci shoes I now help serve champagne around."
Step 4: Let Opportunity in When It Knocks
Most people stay broke because their definition of rich keeps moving. Don’t focus so much on the future that you ignore chances being presented now. Meursing explained that the real turning point came when he landed his first big client.
"It was a small fashion event on Rodeo Drive -- not exactly the Met Gala, but to me, it felt like I'd hit the jackpot. I poured every ounce of energy into making it a success, treating it like I was staffing the Oscars -- little did I know that would come later."
He said that one event led to referrals, which led to bigger events.
"Before I knew it, Premier Staff was the go-to agency for luxury events in LA. We've staffed parties for Will Smith's family, kept things classy at Emmy Awards after-parties and even helped Justin Bieber celebrate a birthday. But here's the thing -- even as the business grew, I kept living like I was on that loan officer's salary."
Step 5: Never Stop Learning About Earning
Don’t worry when the goal posts move because every step you take away from your mediocre salary to becoming a millioniare isn’t at a sprint, it's with intention. So, even though Meursing says the finish line keeps moving, you know in which direction you are going, and how to get there.
"I'm constantly learning, adapting, and looking for new opportunities. Whether it's exploring new markets -- we're eyeing the security staffing industry -- or finding more efficient ways to run the business, I never rest on my laurels." he said.
"I still remember the day my net worth ticked over into seven figures. I was sitting in my office -- a real one this time, not a corner of my studio apartment -- looking over the books. There it was in black and white -- I was officially a millionaire. Did I pop champagne and buy a sports car? Nope. I celebrated with a slightly fancier pack of ramen and got back to work."
Cindy Lamothe contributed to the reporting for this article.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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