I Make $220K A Year - And I Live With My Parents
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- Опубліковано 29 тра 2024
- Sal Khan, 31, moved from California to Texas to live with his parents during the 2020 pandemic. They insisted on not charging him rent. He saw this as an opportunity to build a stronger relationship with his parents, save money, and potentially purchase some properties for his future. Now, almost four years later, he has been able to save over $200,000 and has a real estate portfolio consisting of four properties across the U.S.
This is an installment of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.
Produced and Edited by: Raffi Paul
Senior Managing Producer: Eric M. Clark
Senior Production Manager: Kathryn Mavrikakis
Camera: Erick Mauck
Animator: Gene Kim, Mithra Krishnan
Reporter: Jennifer Liu
Additional Footage: Sal Khan, Arrived, TXA Investments, Getty Images
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Living On $220K A Year - And Rooming With My Parents
There is nothing wrong with living one's parents. As far as the environment is very healthy.
only in america is it frowned upon living with parents. i’m asian and many asian countries don’t have this stigma. many asian families in america also don’t have this stigma.
There's plenty wrong. But some folks dont like being independent having their own.
For me it's a blessing that my mother lives with me
Is that what your AI girlfriend told you?
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years
He's smart. No wife, no kids. Saves money by living with his parents. When he's ready to move out, he'll have tons of money to work with.
Right, except with me I own a big house and I live alone there. No wife and no kids too. The mortgage is already paid off 😊🏠
@@marcopolo3109show me the ways
are you really happy? 🥲@@marcopolo3109
yeah that's the point he's saving so he can get there. and probably own a big house in a great city too. You should know then that people have to save to get there right?@olo3109
@@marcopolo3109 He has the option to buy a big house in cash when all is said and done. No need to pay interest or property taxes so he's actually winning.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@Bennett-Hudson That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@Bennett-Hudson I will give this a look, thanks a bunch for sharing.
Be careful with online transactions. Lot of scammers out there who wipes all the money out of your account in the name of bank and professionals. Please watch “ online retiree scam” videos. There are tons. Stay safe
@@chigoziejoshua3479Don't look up scammers, they take advantage of you .
I honestly expected a bunch of negative crybaby comments here but I'm positively surprised at the comments. Good job y'all and good on this guy for killing it in life
Yes ma’am
No he is not. He has nice income but is living with parents and renting home to his sister. It is a very parasitic relationship with a lot of issues ahead. Making 8k yearly on 4 rentals is nothing… His budget is also stupid - so much money on eating out and still living with parents. He is a big kid, nothing more.
This is great. A lot of other cultures do this as well. We also forget that our parents are getting older, so our time with them are limited.
I've witnessed multiple friends lose their parents in their mid-twenties. Don't take them for granted.
"This is great" Dude is a clown. He's a manchild who can't be independent and needs his parents. Won't move out until he has $2M, and still wants his parents with him. He's fat, and takes that girl out on dates but doesn't get laid lmao
Dude is a joke. He's a manchild who can't be independent and needs his parents. Won't move out until he has $2M, and still wants his parents with him. He's fat, and takes that girl out on dates but doesn't get any play lmao
You can still have your own sht though
It's certainly a cultural norm. In many Caribbean cultures, it's considered acceptable for adult children to live with their parents as long as they're contributing and assisting with caring for elderly family members. Finding oneself in this situation, with supportive family while also building wealth, is truly remarkable. Awesome.
Yep. I’m 38, a lawyer and I live with my Jamaican mom. I make good money and I enjoy having her company
Very true, Trinidadians also do this, We stay with our families until we are ready financially
@@jmill232323 Big up Jamaica!
Stop this crap. In Jamaica this ain’t so. If we making great money then our parents would want us to stay but it’s also expected that we should leave and find our own person
As a Guyanese 🇬🇾 2nd generation American, I agree. This is how we live!
The problem for many is not about living with your parents. It’s about living with your parents and you have no plan, not trying your best, and living off of your parents. So many parents allow this and have 40-50 year old children at home with no hard lessons learned.
This guy is not that at all.
And why should that be a bad thing? Literally this system of people being in a rat race to just work their entire lives is f'd up
Why should anyone have to have a hard lesson ? This is the norm for many other countries. You think that way because you had to go through a hard life and that’s what you were taught
In my view he’s the richest guy on earth not because he is earning 200k in a year but living with his parents & having a strong bond with them which is priceless. If you’ve a mother treat her with good care. You’ll know her value when you see her empty chair.
At 31 and making 220k. Your parents lives with you. But they just take care of the house and expenses.
Doing the same in my mid-30s. Saved $150k in 3 years and just came back from a 3-week vacation to Asia. No shame at all and I enjoy the company of my parents since I didn't spend a lot of time with them when I was always away in the military.
May I ask, what do you do? & any tips for me ?
Every family has that one person who will break the family financial struggle, I hope you become the one😊
Last year, I was working full time, budgeting groceries, unable to afford date nights, and missing time with my kids. Now I learned how to make money online. Now am a SAHM, homeschooling, and making profits every week.
This video got me hooked, and now I’m determined to become a billionaire in just two years! 💪💰
That's great! I'm motivated too! How can we achieve this challenge?
No specific one really, because there are lots of investment plans and strategies littered all over the internet today, for instance, investments like real estates,gold, drop shipping crypto currency and lots more
I've heard alot about crypto currency investments and how effective it can grow your income! Any recommendations on a guide?
More and more folks now live with their parents but this has always been a cultural thing for the Asian community as well. Great story, thanks for putting yourself out there!
Balancing lifestyle choices, savings, and investments becomes crucial to ensure long-term financial security.
Absolutely, managing a $200,000 income requires strategic financial planning. High living costs, unexpected expenses, and lifestyle inflation can easily erode your wealth. It's essential to create a budget that aligns with your financial goals.
Considering inflation too
Having navigated living on an average income, I can attest to the importance of financial planning. While it provides a comfortable lifestyle, unexpected expenses can arise.
Sounds like a valuable and resource person
i just googled the man you mentioned, I am quite impressed with his credentials, will get in touch because I need all the help I can get, and consequently schedule a phone call. Thanks.
The best part about Sal Khan is he shares his success with his family. This video could’ve shown him alone but he chose to introduce his entire family and friends… wishing you all the best in your life journey ❤
Well explained. Thank you for bringing up this video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject ..... Thanks to Georgina Lucas the lady you recommended.....
I always wanted to trade for a long time but the volatility price has been confusing.
That is true my dear, Investment is the best idea presently and without it, human struggles are worthless.
No doubt!! I never knew Georgina Lucas had gone viral. I decided to back up my assets and property with her when we met at a conference in New Jersey for the first time.
Interesting! But I'm new to this, please how can I get to her guidelines?
SHE'S MOSTLY ON TELEGRAMS WITH THE BELOW NAME
I’m behind on everything financially and this video shows up on my feed.
Time to move in with your parents
It gets me every time!
@@pouroverfinance ok fine, someone either cover me up with dirt or fly me to Arizona
My dad would rob me blind if I made this kind of money living at home 😅
Right. All families ain't created equal sadly! 😆
Sad but true smh
That part 😂
100% Me as well. Grew up with emotionally and physically parents and I was out the moment I was making ~ $1000 per month.
and how would he do that if you didn't give him the money lol
I am 23 and live with my dad. yes cost of living as a lot to do with it these days but, American Culture Criticizes you for living with your parents. live is short, enjoy your time with them. thats how I look at it. especially if you have a great relationship with your parents. cherish the moments.
My primary duty is taking care of my parents. I got a place & had them move in with me during the pandemic to make sure they stay healthy & alive (as seniors are the most vulnerable). Today, I live with my dog 10 minutes drive from them & see them 4-5 days a week to get their needs- groceries etc. Especially in today’s world where we tend to be alone a lot with technology, it’s especially important to take care of each other. ❤
I met Sal in 2015 in Ohio State’s entrepreneurship club. I knew very quickly after meeting him that he’d be very successful - he’s always been disciplined, driven, and had a plan. Loved seeing this big life update. Sal, if you’re reading this, I’m proud of you my man! Keep going!
Why are all of these Millennial Money's pushing real estate investments. Not everyone wants to be a landlord or own multiple properties. There's a disappropriate amount of content about real estate. Where's the person making 6 figures without real estate or has no interest in real estate investments
Because it’s a good investment
They like to show people with businesses but if you watch the videos on retiring early, it's people with a bunch of stocks.
Real estate is a far more common investment. That’s why. Most people don’t want to run or own a business. Rather they treat real estate and/or stock as their “business”. It sounds like you need to learn more about investing so that you know how to approach these videos
It just so happens that they have real estate. There's nothing more to it.
Reality of where wealth is I guess. Half of all wealth is in property.
lol I make $50k a year in Hawaii and live with my Mom. The family home is mortgage free with just property taxes and bills which we share. I am able to be debt free and accumulate a lot of savings and live a very stress free life!
Parents don’t live forever dude.
@@back2the80s I know that but by then I would be very rich from my savings to sustain myself. Also my Mother had me when she was 19 so the age gap isn’t that wide compared to some of my peers with much older parents.
@@back2the80sand why don't you think his mom should let him inherit that home? That's something valid, after all with today's economy I would take that over anything!!!
@@Ignaciombr that’s exactly what my Mother told me. Currently I have enough savings for a good down payment for my own place but my income is barely sufficient to meet the minimum mortgage. My mother told me why am I even considering buying my own place when I’m going to inherit one of the family homes that she owns anyway. Me and my sister will have our own homes when it’s time to inherit but to be honest that’s not really on my mind, I value her life and spending time with her while she is living and that to me is priceless. When it does come time to inherit however, I may sell the home and just buy a smaller place for myself. It should be enough money to take care of myself without worrying about a job.
@@jon6309 idk why you'd buy another home if the one she's letting you inherit is big enough but I guess to each their own!
I'm happy to see the perspective of an adult living at home (by choice); as mentioned, there is a cultural aspect to this. As someone with a different cultural background, one that emphasizes hyper independence, it is great to see a different perspective. Secondly, I think it's great that he is able to rent one of his homes to his sister, it seems like it is a mutually beneficial relationship. That being said, am I the only one that is getting tired of this dystopia of homes as a commodity/part of the portfolio? I think too many of us are told to "invest" in real estate, but given the housing crisis, NIMBY, and inflated housing prices, its just so hard to be ethically invested in real estate given our current climate. I'm not saying to not do it, and I'm not even faulting folks that choose to, the incentives are there. There is just something that feels wildly inappropriate about our current system.
PREACH! Stay true to the people who brought you in this world not Realtors and stingy professionals looking for a come up!
I think he shouldn't be renting that property to his sister. He should be lending it, after all why would his sister need to be paying for his rent.
Literally everywhere else on earth outside of america most people dont move out until they get married. Living aat home deep into your 30s is the norm in Europe, carribean, africa, asia etc. Maybe it's time we start bringing that back as a norm here especiallyd during these rough economic times
It's not the norm in "Africa". I am "African" and would never live with my parents/sisters. It is just weird and I do not know any of my friends who do that. In fact, in my country, we are independent as early as primary school with students only living with their parents in the holidays ("vacations").
@@travelvideoz That's not true at all lol
But those people are socialists and dont have freedom per half of america
@@travelvideozAre you a white African from South Africa or Namibia? Because that’s the ONLY ones I can see that happening to. ALL the North African & Subsaharan Africans I’ve ever known live with their parents or their parents live with them
Could explain the epidemic of loneliness that Americans seem to complain about.
Culture wise. Born in the Caribbean, taking care of those who took care of you is always important. No kids, no wife. He's doing the right thing. Good for him and his family
Yep yep… this is how we Caribbean folk do
🇬🇾 🇯🇲 🇭🇹 🇹🇹 🇧🇧 🇧🇸 🇻🇮 🇸🇷 🇩🇲
🇵🇷 🇩🇴 🇨🇺
@@chuckscott-cy7iq I don't. Where I live in the current has no bearing on what things I learned growing up.
He should get a wife though. I am jamican but even though we take care of the parents women some how end up taking care of everything and working and the kids but the dads never ( some not ALL) do everything for the kids like knowing their grades, homework, talking to teachers.
Wow this is so refreshing! Definitely one of my favorite episodes so far. So often parents kick kids out too soon before they are financially stable. He’s making really smart moves. 👏🏽
This man is smart. I'm sure if many people can move back home to save money and buy a house. Many people shame others for living at home but to keep it a buck, rent is expensive and it's only getting more expensive and unaffordable. So if someone can save $200K in 3 years by living at home, so they can actually buy their first house, why not do that?
I will forever appreciate this channel, although the agency model you focus on is different, the principals are still the same. a month ago I started investing into the s&p 500. My portfolio is a little over $68k, but it's a start. I can't even legally get a job, so I'm doing decent.
I will love to be your friend dear as well as sharing some i dears which you're benefiting.
Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert.
Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I'm very happy I'm profitable now.
Hey how good are your earnings I will like to get some insights into trading thank you.
I can relate to all you said becaus am facing similar thing right now.
Congratulations I wish you more success
My parents supported me throughout my 20s and into my 30s. Now, I support them for life. It's a cultural norm in India and Pakistan, and I have an Italian friend with a similar arrangement.
Drawbacks include less freedom for fun activities like clubbing and the constant scrutiny of others. You might feel like you missed out on the carefree nature of your 20s and casual relationships.
However, there are advantages too. You mature faster than your peers, enjoying your 30s more fully. Personally, I've had the opportunity to travel to Japan, Mallorca, Thailand, and Dubai this year. Additionally, owning multiple properties and being successful as a man has made it easier for me to date and find a life partner.
There is no way he should be carrying any debt living with his parents and making that amount of money.
Why buy so many properties? Pay off school loans first.
Agreed, boosting his retirement savings should be a higher priority too.
With the 200,000 saved allegedly he should pay off his 19,000 debt.
Wait he makes 220k and gives his mom just 200 dollars a month? Does he pay utility bills or foot the bill for groceries?
He said he paid for medical expenses. If his parents are working aren't they covered by insurance so what hospital bills is he talking about? And don't senior citizens in the US get covered under medicare? I don't know, just asking
Maybe they can afford it. I have a high earning daughter still living at home and all we expect is for her to pick up the odd grocery bill.
I understood the $200 to be a gift not a contribution to the household income. Of course, I may be mistaken. I am assuming that he gives them money for expenses. Medical expenses in the U.S. are not completely covered by insurance no matter what your age is.
Exactly! That’s what I was thinking to myself.
Dude, do you know expensive deductibles and medication are? My mom's medication is $500 a month and her last month doctor appointment was $350 even after insurance.
He didn’t get to build his empire and assets to what it is by wasting it on unnecessary expenditures like mom 😅
He’s still spending 6k a month . They live with him not the other way around . He’s the man
It's nice to see people value family as much as he does, and it's cute he found a partner that values family just as much. He's so much better off than I am but also why hasn't he paid off his student loans after 8 years of earning as much as he does? He still has 19k left but has already paid 22k over 8 years when the original loan was 22k. At this rate it'd take him another 6.5 years to pay it off.
Maybe he got a super awesome interest rate? If he's investing in stocks and only paying 3% on his student loans it could make sense.
He’s only making minimum payments. Unless it’s a really low rate, the principal is not gonna budge. He should definitely increase his payments and knock that out asap.
@Erudite_one yeah if I were him I would've paid that off since forever ago
Wow, this guy is literally living my life about 17 years ago. I was also living at home at 30 and had 4 rentals.
I got married the following year and moved out and my rentals weren’t positive cash flowing. But, I was looking to build up equity as my 4 rentals were worth just over $2M back then with about $1M in equity.
He’s well on his way.
One thing that Asian Americans in general do so well is leverage group economics by staying home longer (helps to have an in-tact, loving family unit also.). So much needless suffering happens when people get tossed out into the world with no support or real leverage (most lean on credit card debt and end up screwing themselves long term). This should be normalized more. I'm back home and this guy is me. Difference is I don't have properties and am preserving capital for other opportunities.
@@truthtelleranonfacts
@@truthtelleranon I think it's more of an immigrant mentality than anything else. If you're merely trying to survive, you dispense with luxuries like early independence.
Good stuff, get to work. I had built and run businesses for 8 years by age 30. The rentals were my backup plan.
@@MichaelChengSanJose Thing is, most multi-generation Americans need to dispense with those same luxuries.
And thank you for the encouragement. Back to work
🤩Thank goodness you brought this up! I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,,
Do you have an idea of any good advisor i can work with or have as a partners, that’s trust worthy ?
That would be LISA WINTERS FINANCIALS
Building a good investment portfolio is more complex so l would recommend you seek support. This way you can get strategies designed to address your unique long/short-term goals and financial dreams..
Her good reputation already speaks for her $
110k last month
I'm new at this, please how can I reach her?
Moving out at 18 is how ppl start living from pay cheque to pay cheque. Indians figured it out long back!
I went to highschool with this guy. Living with parents is a norm in our culture and glad he's using it to save when many of us millennials struggle to.
Making $230k+ a year is extremely unrealistic for most people in the world and this is not helpful or accurate
Seems like an intelligent, respectable guy. He is working hard, saving & investing. Looks like his family, especially his parents, is a real priority for him and this is a nice thing. Many Americans, who have been here for several generations, have lost that understanding of the honor and responsibility it is to care for parents. Best of luck to him!
What a sweet spot to be in ❤
ahh nice one bro, looking after your parents, saving money, property portfolio and earning a great living, you're winning ❤
As a landlord myself, the whole “renting to my sister” seems like a big risk. If she gets into financial issues and can’t pay rent, then what? Evict your sister and nephews? Have your parents guilt trip her into paying rent? If your parents refuse to comply then I guess he’s got the added leverage or threatening to kick out the parents if they don’t 😅.
I’m gen Z and I wish I could live with my parents! They live in the middle of nowhere though and I had to move to where the new grad jobs were. Rent is so expensive! 😅
Same. I'm from a podunk place. All my high school friends moved to get good jobs. Moving before you've got a good savings costs you for a LONG time. :(
@@BearingMySeoulhow are you doing
@@crishnaholmes7730 Honestly, God has supplied all my needs and then some. Once I got serious about trying to keep in a budget and looking for ways to increase my income and save more, I began to encounter opportunitites here and there. I'm a praying person and even while donating to various charities and ministries I should be able to retire comfortably (and possibly early).
That said there were some LEAN years in there. I've nearly always lived with roommates. Even now, I have a family member living with me and contributing rent. I only began to take "vacations" in my late 30s but I made it! And to do so on a single income is no small feat. #blessed
Eventually, you're OF thirst-trappin' will pay off.
Awesome story, I just bought my first home in Houston that I intend to turn into a rental property. Very inspirational.
I'm Hawaiian and Samoan and my culture you take care of your elders and Kupuna. In fact my grandma lives with my mom. She has lived with two different uncles before as well. It's about of taking care of people as they age. I love that. Parents won't be around forever but while here the family benefits and kids grow up with grandparents. Awesome job Sal amazing.
Who wouldn't be 'making it' living at home making $220k. C'mon
Right. Lets find the folks making it with on a quarter of that with kids and rent.
The key is that they get along. As long as the relationship is healthy with boundaries, it is great to be living in multi generation household. It benefits everyone in the relationship.
He makes all this money and pays the minimum on his student loans... Just pay it off..
I came to the comments to say the same thing!
not sure what his interest rate is on his loan, but if its under 4% interest, there's no reason to pay it all off because you have high yield savings accounts paying you 4 - 5% interest to hold your cash there; for me i have 2.5% interest rate, only like $5300 left on student loans, i can pay it off in one go, but why? I rather have my existing money make me that 1.5% - 2% difference and pay off my loan in a 20 year period for that fixed interest rate
That's the reason @@michaelhuang3767
@@michaelhuang3767 I don't think you understand how student loans work.
do the math before saying i don't understand@@anaroman1499
my biggest takeaway is I'm surprised he has a girlfriend [and she's BEAUTIFUL]. Dude's got it all. good for him!
What a blessing it is to take care of your parents. Great job!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to take risks. Saving is great but taking risks puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to larysa Caba, my portolio is doing really great and im proud of the decisions i made last year.
I feel one Of the greatest challenges that we first timers face in the ma rket is that we end up losing all we have,making it difficult to find ourselves back to our feet. My biggest advice is to always seek the services of a professional just like I did when I ventured into it for the first time. Big thanks to Larysa Caba. I now make huge profits by weekly through her services while still learning to stand on my own.
I think she trades for everyone I meet. I met her twice at a meeting in Germany and after her lectures from Ella I had to personally ask her to be my financial advisor. she is definitely good.
It's amazing that you got to know her. she has been a blessing to me and my family.
I just looked up her name online. she is licensed with credible certificates and has an amazing track record. Thank you for the message.
How do I know more?
I hate that there’s a stigma to this. This is SMART! Way to go Sal, you’re doing amazing!
I think it’s smart so I laugh at anyone against it. And some people only seem to care about how much one can accomplish and become independent early on, I think those people need to work on empathy.
Great job; the only criticism I'd have (but not knowing the entire situation maybe there's a good reason for it) -- why does he still have college debt? That 19k left from the 22k (from 2016!) is a waste of interest, unless the rate is so low it's somehow worth it? He could knock that out quickly and be done with it and still be able to invest in more real estate. He's far ahead of most (including me), so his decisions are great lessons in managing wealth, but seems odd to hang on to that particular debt. (And I did think about the college loan forgiveness, but that wasn't an idea back when he graduated, and I thought there were income caps, which he far exceeds--being able to still make $220k/yr in TX is massive since the CoL is lower than CA.) BTW, mentioning the Costco fee is a bit digging, isn't it? It's $60/yr, relatively cheap (it's been that for decades!) compared to the savings from buying at Costco.
He seems like he genuinely care for his parents and he picked a partner who has the same values ❤
Thanks for sharing your situation and this video! I am like you in a similar situation, and thankful for it. You're a great role model! Cheers!
It is really an honor taking care of your parents. It’s in the African culture as well. I loved living with mine and didn’t move out until I got married. I’m always looking for a way for them to move in with me still lol I love keeping an eye on them and they that’s the way to do it. This guys story is so relatable to many.
This is the way it should be !
They take care of you when you are young and you take care of them!
The smart survive! No matter where you go on this planet, the smart ones who do the right things will always survive...especially in America. In America, there are so many opportunities but you have to seize the opportunity and plan your life wisely around it. Too many people follow the "not so smart" lifestyle and end up in big debts, work 40 years, suffer physical illnesses, and be abandoned and lonely in old ages by their own adult kids who will by the way repeat the same dumb lifestyle that will cost them everywhere they look. Family sharing a house is the biggest cost-cutting one can make. And the rest of your income is ALL savings and Investments. Imagine a life with only a meager expense.
Unless one of the family members itself is a crook, hum logon ko in deshon mein koi problem nahi hogi. Hum parents ke saath rahenge, and sab theek hoga.
Im proud of you. Your a good man and son. Also smart.
In Asian culture, it is normal to live with your parents in your 20s and 30s.
I think living with parents can be a good option. He is using the savings and help from his parents to built up the networth and built wealth for his family. The stigma that living with your parents is bad comes probably from kids that can not support themselves and mooch of their parents way into adulthood. This is not the case for this man and they have a good relationship so good for them👍
Sal, you are set for life. Good call on saving money and living with family. Great work.
I'm favoured, $500K every week! I can now give back to the locals in my communitv and also support God's work and the church.God bless America
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some professional advice.
Thanks to Mrs Deborah Davis.
YES!!! That's exactly her name (Deborah Davis) so many people have recommended highly about her and am just starting with her 😊 from Brisbane Australia🇦🇺
I'm surprised that this name is being mentioned here, I stumbled upon one of her clients testimony on CNBC news last week.
Lol, it isn't really about saving money. At some point, you want independence, and you learn how to budget. Being at your parents' house carries a certain amount of obligations inherently.
No privacy for one. His parents want to come with him when he moves out.
Bro is chubby Chamath with a good heart and not pure evil
I’m by no means a financial expert but curious why he is only paying the min on a 19k student loan? Why not pay it off?
He can easily pay it all of with that kind of bread
Simple math. money market pays him 5% The article said his rate is 4%. Make 5% to pay 4%. Maybe Biden will forgive it as well.
@@UnknownUnknown-tu3bestop waiting on Biden
Guys non of this is the answers, the reason he pays the minimum and hasn't paid it off is because it's the first and oldest credit line on his credit which helps his credit file, if he pays it off it will drop his credit score and length of credit history in return affecting his interest rate on future financed properties
Great mindset, love it.
Congratulations to him! I love that he’s honoring his family like this.
Im Bangladeshi-American, i did the same. After 6 years of living with my parents after college from age 23 to 29, i was able to pay the downpayment for my 2-family home during the worst of the pandemic at 2.5% interest rate. Lowest my attorney saw at the time. Alhamdulilah. And its kind of like house hacking if your parents help pitch in for the mortgage, and on top of that, i dont ever need to hire daycare when my wife and i work.
This guy is killing it!
This is why I love South Asian culture and Asian culture in general
PREACH! Stay true to the people who brought you in this world not Realtors and stingy professionals looking for a come up!
Wow how hard it must have been for him to be in Pakistan without his family. Great story about how he’s grown into who he is now
He must be extremely disciplined
He’s 31 (earning 220k I assume he hasn’t been earning that since graduation and it’s slowly built up) and has 4 properties with putting down payments of 90k plus each
Then he has over 250k invested/saved.
After taxes his 220 is around 160k not including insurance, pension and household bills etc
Good on him!!!!
Love it.
Bro is winning.
For the majority of human history, extended families lived together.
Good for him! Wishing him much continued success and happiness! 😊👏🏾👏🏾😃👍🏽
Beautiful!!
This guy is basically me. He's exposing my secret to getting rich lol. I'm not buying real estate currently, though.
I don't even make half of what this gentleman makes, but back in 2020 I was blessed to be able to buy some acreage, build a home for myself and then build a little detached ADU/MIL for my aging parents, after years and y-e-a-r-s of saving. 😅 It was one of my proudest life accomplishments to be able to surprise them with it. And it's so incredibly nice to have them on the property with me now. I think multigenerational living is not only smart, but it's the future!
What a nice & smart guy! Much respect to him 😊
He must have a emotionally healthy set of parents. I can't wait to leave😂
Back in the day, people truly loved and took care of their parents...❤ You don't see that too much anymore...😢
Only in the western culture is it looked down on to live with your parents. Usually most will live on their own after 18. That's reasonable if you are trying to escape a bad family situation but most people end up spending thousands of dollars on rent when they can live at home and save up. I'm 23, earn over $100k and year and already own a triplex simply because I was smart with my money. I didn't go on vacations after I finished school like most people do and I saved every dollar from my paychecks by living at home. With how expensive it is to live now, more peole need to do this.
He is a very smart man. Their culture it is very similar to our Mexican culture. Our parents took a good care of us growing up, now it is time for us to take of them.
I know way to many people struggling moved out the crib at the 18 just because “im an adult now” let that sink in.
This is the dream right here.220k/yr...18333/month.....$5964....$12369....free discretionary cash just waiting to be deployed....amazing numbers
hes rich
I hope people are realizing that what's the magical bullet here is "tech sales", not per say he's living with his parents even though that's a great decision still. It's one of the rare few jobs out there that you can get a job in that doesn't require experience at all since most companies train you, they pay very generous starting salaries ranging from $75k to $95k OTE with roughly half of that being a base salary on where to the company is located rather than where you are located, and you can work remotely. It's not for everyone but I'll just say the potential to retire in less than 5 years is there for the taking.
I’m seriously considering it. I am a teacher currently.
This. 1000% Also the fact that he owns real estate investment properies is also a factor in him "making it". If he was working retail or a low paying job, like a lot of young people, it would be a very different story most likely.
You’re going to be glad you spent the time with your parents since you get along with them. They’re not always going to be there later in life. Plus, they’re free baby sitters for your future kids!
Living in Houston I'm sure he is stackin! Majorly.
I’m from Houston and live in Atlanta now. Everything has grown in price in both cities, but living with his parents to stack is smart. I wouldn’t want to do it for too long but it’s definitely a smart move to build.
In the Middle East & Asia you live with you parents and your wife. Did is not new. They kept their traditions, good for them. That is why both of those group have the highest wealth per family in the US.
Now show me a white guy who does this 😂
Dave Ramsey would be outraged
Living with parents is regular culture in ASIA (Bangladesh). Our parents live with us even when we are married, and have childrens. This is essentials for family values pass through the generations.
Pay your student loans. You make enough money not to expect the government to forgive them.
It's not expecting the government to forgive them. The man understands money and throwing 19k into a student loan pit like that makes no sense when he is currently trying to arbitrage and buy another property. The only reason to pay off that loan early is for emotional purposes.
Finally, someone who understands it! Seems like student loan debt is emotionally too much for Americans, many comments online reflect that they prioritize paying it off early in their financial planning
@@elkinhuertas2137 The guy is currently breaking even on all of this properties except the one he's renting to his sister. The interest rate on his loans is not zero and the value of his real estate is at a near term peak while having investment risk for holding those real estate properties. On top of that he has to manage properties across multiple states and pay their accountant to figure out all of the differences in taxes across states. In this situation it's better to simplify your debt situation than continuing to double down on real estate purchases.
@elkinjuertas2137, he owes that money. He borrowed it and should pay it back. It was not his. It was a loan. He should not be dragging his feet to pay back. I don't understand the mentality of you people. The government needs to clamp down on people who owe student loans and behave the way he does. Stop trying to rob taxpayers you thieves.
I think we all should consider what it really means. For the environment, to build generational wealth, and for childcare. Whish my parents weren't as old and could have helped with my child, even my in laws live so far.
Since I want to live longer then 100 years old, hope my child doesn't leave too soon😢
These family is very blessed ❤
We as Americans need to stop pushing our views and other cultures. United States is one of the few countries that have land a casual culture to push their adult children out of the house. I believe it’s up to the parents to make the determination if they want their adult child to remain with them. It’s a benefit because it allows the adult child to save money. It’s a benefit because the adult child can Assist his or her parents at any time. As long as the relationship is healthy, and the parents are happy with the adult child, it is a delight for everyone.
Real estate is a massive headache. I have 3 rental properties and is not fun. Stick to the stockmarket and easier ways