fizkes / Getty Images/iStockphoto
Commitment to Our Readers
At GOBankingRates, our editorial team is dedicated to providing unbiased reviews and information. We rely on data-driven methodologies to evaluate financial products and services, ensuring that our reviews and ratings remain independent of advertisers. Discover more about our editorial guidelines and review methodologies.
20 Years
Helping You Live Richer
Trusted by
Millions of Readers
Many people dream of an annual income of $400,000, but those who reach that milestone often alter their spending habits significantly. Fares Ksebati, a young entrepreneur, exemplifies how anyone, regardless of income, can accumulate wealth through disciplined financial choices.
A Swim Coach Makes Waves with Innovative App
Ksebati, a passionate swimmer since childhood, utilized his coaching experience to develop MySwimPro, an app launched in 2015. This innovative platform provides premium coaching, subscriptions, and exclusive swim retreats worldwide. Within a year, the app won Apple’s App of the Year award in the Watch category, with downloads soaring to over 1,000 daily by 2019.
The pandemic in 2020 posed significant challenges, as Ksebati’s business suffered due to pool closures. However, he pivoted to create live-stream workouts for swimmers, successfully recovering his subscriber base and even boosting it by 50%. By March 2025, MySwimPro had amassed over 15,000 active paying subscribers.
A CEO Embraces Modesty in an Expensive City
In 2024, MySwimPro generated gross revenues of $2.5 million, allowing Ksebati to secure a base salary of $240,000, with potential bonuses raising his total income to $400,000 by 2025. Despite earning in a luxurious city like Dubai, where he purchased an apartment for approximately $354,000, Ksebati kept his living expenses in check, demonstrating that sound financial management can lead to wealth regardless of income level.
Mastering the Art of Budgeting and Financial Discipline
Ksebati understood the pitfalls of lifestyle inflation and intentionally maintained a conservative approach to spending. For instance, after purchasing his apartment, his monthly housing costs decreased from a range of $2,700-$4,000 to a manageable $1,750 mortgage.
The National Association of Realtors highlights that the average U.S. mortgage payment is around $2,120, showcasing Ksebati’s ability to borrow less and therefore spend less, which is a smart financial strategy applicable to anyone.
Frugality as the Foundation of Wealth Building
His strict adherence to a frugal lifestyle has translated into a savings-focused budget strategy, allowing him to prioritize wealth accumulation while allowing only occasional splurges. Despite his high income, Ksebati’s expenditures are remarkably similar to those of an average earner, except for his significant investments.
Ksebati has managed to amass $870,000 in investment accounts and maintains a $14,000 savings buffer, demonstrating that responsible spending and diligent saving are universal strategies for building wealth over time.
In conclusion, Fares Ksebati’s story emphasizes that financial discipline, strategic budgeting, and a commitment to living below one’s means are essential components for anyone seeking to build wealth, regardless of their starting income. By prioritizing savings and smart investments, anyone can set the stage for financial success.
