Your Paycheck Is a Trap: How a ‘Boring’ Business Can Set You Free

Codie Sanchez shares 5 insights from Main Street Millionaire: How to Make Extraordinary Wealth Buying Ordinary Businesses.

Are you earning a steady paycheck? Well, good for you. And how's your investment strategy? Putting away a percentage of your income into a diversified retirement portfolio? Well then, you're doing everything you're supposed to do, and no one can fault you for that. With any luck you'll be comfortable in your later years, and that's nothing to sneeze at.

But do you ever dream of more? I mean, you only get one shot at this life, right? And while holding down a steady job and making responsible choices is no small feat, what if those same choices are keeping you from achieving true financial freedom? What if the key to building wealth and independence is simpler than you think—but also far outside your comfort zone?

In her book Main Street Millionaire: How to Make Extraordinary Wealth Buying Ordinary Businesses, Codie Sanchez—investor, entrepreneur, and founder of Contrarian Thinking—offers a bold but achievable solution: own a business, or better yet, multiple businesses. Codie’s journey from finance exec to owner of “boring” but profitable small businesses (think laundromats and HVAC companies) proves that true wealth isn’t about flashy startups or speculative investments. It’s about the basics. Scroll down to hear her share her key insights:

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The 5 Key Insights:

1. Your salary will never set you free.

2. The secret to wealth is in boring businesses.

3. Buying is better than building.

4. You don’t need a lot of money to buy a business.

5. Small businesses need new owners.

Hear Codie share her unconventional path to wealth: