Richard S is a master licensed air conditioning contractor. It is not easy to obtain a master A/C license. Most master A/C licensees are wealthy.
He had all the business of maintaining all the rental properties. Our company pays immediately after each job. Once he told me he had to give up a lucrative business with Pizza Hut, which he repairs all their air conditioning equipment of the local locations. He said Pizza Hut pays well but they pay 60 days after the work is completed. He said monthly business expenditure is about $15,000. That means he was always struggling to stay afloat at least around $30,000 due to the 60 days lead time for payment. He tried getting loans against his future pay but the interest always eats up his profit.
An example: Even though Richard has a very profitable business overall, he was not able to live below what he makes. He has been living up to every penny he makes.