I Must be Real Rich

It’s Sunday. Part of my Sunday routine involves filling the wife’s car with gas and buying the newspaper. I do this at the gas station near my house, which is near the greasy spoon where I eat some times. I normally pay at the pump these days. Who carries enough cash to pay for a tank of gas? I go inside to get my paper, while the gas is pumping. I get in line behind one of the waitress who normally brings me breakfast. She and her husband are heading out of town for the weekend. I recognize her husband but I can’t place him and then he and the cashier start talking about where he lives. Then it hits me who he is. He owns a decent size ranch, and oil wells, and gas wells, in short he’s loaded.

His wife brings me my eggs for minimum wage and a buck tip. She is old enough to be my mother. Herein lays a secret of successful people. They are willing to work.

Six years ago they started drilling gas wells on this guys place. At that time his share was $90,000 per month in owner royalties. It has only gone up since they have yet to finish setting up production and spot prices are higher. He’s been producing oil from deep wells since the mid 70’s. He owns tons of real estate. He works his own ranch and sells hay and cattle. His wife works too, as a waitress, in a dive that serves $5 breakfasts and $3.75 specials.

If you had $90,000 a month in passive income would you get up at 4 am to stand on your feet all day for maybe $65 gross, including tips? More importantly would you live like you only made $65 bucks a day? Herein is another secret of successful people, they live on less than what they make.

Just so you know, I’m aware of some of this guys story. He comes from a Wyoming ranching family but he didn’t inherit the ranch his brother did. He had to move here and get a job and start out from nothing. Then he bought a piece of dry ground and started running a few head while working shift work. Then he bought more land and built a bigger herd. He kept it up till the ranch was big enough to support it’s self. His wife worked to bring in extra cash while he was investing every spare cent and hour on the ranch. It paid off.