It sounds like an unlikely story: a self-made millionaire gets rich from an average salary. In this day and age, how is this possible? Sometimes, it all comes down to being savvy with money — and major hustle.
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GOBankingRates spoke with Daniel Meursing, CEO and founder of Premier Staff, a luxury event staffing agency that’s worked with everyone from Ferrari to the Oscars, to discuss the steps he took to achieve his millionaire status.
“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.”
Read on to learn the steps he took to get there.
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Live (Way) Below Your Means
“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.
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.”
He continued, “‘But Daniel,’ I hear you say, ‘that sounds miserable!’ And sure, there were moments when I questioned my sanity. Like the time I found myself dumpster diving for a slightly used office chair instead of buying a new one. But every dollar I saved was a dollar invested in my future.”
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Invest Like Your Life Depends on It
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.
“But I didn’t stop there. I researched individual stocks, studied market trends, and even dabbled in real estate. Remember that rust bucket of a car? Well, I used the money I saved from not having a car payment to buy my first rental property.”
However, Meursing equally noted it wasn’t all smooth sailing.
“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.”
Side Hustle Like It’s Your Main Hustle
While working as a loan officer, Meursing also moonlighted as a server at high-end events to establish another income stream.
“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.”
When Opportunity Knocks, Kick Down the Door
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.”
He added that every extra dollar went back into the business or into investments.
“It was like playing a real-life game of Monopoly, where every property I landed on, I bought.”
Never Stop Learning (or Earning)
The journey to millionaire status isn’t a sprint, it’s a marathon — and Meursing said the finish line keeps moving.
“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.”
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This article originally appeared on GOBankingRates.com: I’m a Self-Made Millionaire: 6 Steps I Took To Become Rich on an Average Salary
