Retired factory worker, Paul Navon, recently gave away two $1M gifts to local colleges in his community. Navon never made more than $11/hour, never won the lottery nor received any type of inheritance. How on an annual salary that is less than half the average annual income in the US did he accomplish this?

Most importantly, he had a plan and he stuck to it. He purchased rental properties over the years and lived on that income while he invested all of his net salary each year. He rarely ever withdrew any of his investments and always reinvested the dividends.

Yes, he was very frugal and had income from rental properties, but most of the rest of us make much more than he ever did and could end up with the same results if we do as many personal finance gurus recommend – get a plan and stick to it. Automate the plan to make it even easier (e.g. use direct deposit, deduct for 401k, online auto bill pay to invest and save money before you can spend it). Making good decisions on the big things in life (home, cars, etc.) will take you a long way financially without having to pinch every penny.