I'm 16 And Make $50,000 A Month!
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- Опубліковано 14 кві 2019
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I’m 50,000 and make $16 a month.
underrated comment hahahaha
You’re crushing it in the immortality game
Your Killin it man
I'm dead 🤣
Hahaha oh boy that’s a good’n
"You show me a pay stub of 50k a month I quit my job right now and work for you"
Proxsea “and he actually quit. And he called his boss with his florescent white teeth”
“Yeah, hey listen, I quit.”
😂
😂😂
😂😂😂
I love these calls “hi Dave I’m 19 and I make $820,000 an hr and I wanted to know if I should buy a used 2008 Toyota Camry with 75k miles”
lol the dude won't just shutup and let dave talk
😂
Dave: Sell the car.
I am done! 😂😂
💀💀
As soon as this kid's dad finds out how much his kid is making, he's going to pop back into his life real quick.
< he's going to pop back into his life real quick.> - Real real quick.
😂😂
He finally found the milk.
Well, let's not assume. I'll admit though, this was some good dark humor!
Hey son I’m back with the milk!
This is the oldest sounding 16 year old on earth.
Sounds 26-27
Conor Court 🤣😂🤣
@Thelondonbadger Poor kid stressing too much
I thought the same thing! My son is 16 and doesn’t sound this old at all!
You'd be surprised with the variety of voices in 16 year olds. I've met some who I could mistake for 12 and some that seem closer to 20.
İf you make 50 k a month, the college needs to go to you.
Ty Sloth so are you a millionaire now
@Ty Sloth mining crypto ?
@Ty Sloth My friend who passed away used to this when it was still legal in my country. He used to make 250usd with a mining rig that cost him arround 3.8k.
Underrated comment
since this recording his profits have dropped. See Alex Becker mention this in detail from around the same time of this.
I would love for Dave to have this kid back on the show for an update. This is fascinating.
I don't care how "traditional" his mother is, once she sees those dollar signs she's going to change her mind about e-commerce. The problem is that she's going to want a slice of it... or ALL of it.
@Doggo The problem is that in this situation I would most likely trust the kid more. Not talking about tax but some parent would take all the money because ``The kid isn`t old enough`` and do something dumb with it
Same with the pastor... will tell him he needs to tithe at least 10% to the church, if not more or the whole thing!
Well, you heavily underestimate "traditional" mothers.
Western people☕️
I don't think so. I really think the whole thing would scare her. She couldn't be convinced it was legitimate entreprenuership.
She would think "Internet=bitcoin=that silk road boy."
"I make 50,000 a month at 16"
-"Where's your father?"
Ah yes this is what I came for
If father knew he's making 50K a month, he'd be HAPPY to act like a father figure!! He'd at least be pretending....
I just feel like this guy was lying, something’s not adding up.
😂🤣😂
stefan molyneaux reference ?
Hey Stefan I make 50k a month at 16...
did your parents spank you?
@@jacob9673 What's not adding up?
The IRS might want to talk to you.
So does the DEA....
@Christopher Laughlin That's exactly the point 😂
Christopher Laughlin It is actually. It’s what they’re for. Don’t get me wrong though, I hate high taxes and see them as an institutionalised form of theft
@Saki Maro As a person with French relatives who run a family business I can understand why! 😂
And Microsoft support
If PayPal finds out he is under 18 they will lock his account.
yeah he needs to figure this out with his mom so he can put it in a high yield saving account/investments, paypal is stupid
yup i had $2000 from selling clothes and they locked it after requiring my SSN (i’m 17) took forever to get it out and to my bank
@@jay-vq5xx did you ever get it out and how ?
Yeah i used to sell shoes using paypal, had about $400 from a sale and they found out i was under 18, took me two months to get it back to my bank
the good news is that they would give him his money back to his bank acc and not just steal it, the bad news is that his mom would find out.
Doesn’t want mom to know. Calls nationally broadcast show to talk about it. 😂
She’s not going to listen 😂😂😂
He could've use another name. That's what I would've done.
@Mister Kazama How would you he hasn't? Just because you weren't as sharp as he was in that age doesn't mean anything.
😂🤣
Let's be real, if she was intent on becoming rich she would have seen it already lol. Unfortunately the paradigm runs rampant through boomers
Hi Dave: I’m 5 years old and I make $18,000 a day. Should I tell my Kindergarten teacher?
ricardo feliz 😂😂😂
Im deeeead🤣🤣🤣🤣
it is very much possible to make $50,000 a month dropshipping + fba just saying...
🤣🤣
ricardo feliz 💀💀💀💀
keeping that amount of money in PayPal seems more risky than telling your mom the truth imo.
he needs to withdraw that cash, paypal WILL lock his account. also the IRS needs to know
Actually PayPal is pretty safe
@@derickwelch8504 paypal is not safe, especially when you're UNDERAGE using a service that is supposed to be 18+. I've already had multiple paypal accounts locked for this reason when i was underage, and lost around 1K obviously not the same amount but it happens.
300k in a paypal account is a very bad idea, especially underage like above. I also used to use paypal for my earnings from the internet (long story) and I have seen many people around me doing a similar thing have their paypal accounts locked for many months because paypal will think the transactions are suspicious.
The Strapped Coconut Should be split between a Roth IRA and SoFi Money account
The 16-year-old kid is the one who should have a show. Everyone would like to learn how he made $300k in 8 months.
That is why he has called in
I hope this kid calls back at 18 and give us an update
I doubt he’s made anymore money
@@aaronharman5431 I mean people still do it and earn up to 10k-20k
Broke
@@aaronharman5431 hes definitely making money still
@Mister Kazama dropshipping is dead.
I'm 6, making 500k/hr
and my Mom doesn't know...
MrPipesarecalling lol
MrPipesarecalling I was just born and I am making 3 million
well don't laugh... a lot of them are making a lot of money not on youtube but on Twitch. They're getting paid by being personalities playing videogames and literally their peers donate $1..$5....$20 etc
I'm 6 months old and I make 700k a month investing in Gerber and Huggies and Willie Nillie Car seats.
I am a fetus and i am making 100k per year
Pastor is going to ask for his 10% lol
Jam R0ck 😂😂😂😂😂🤣🤣🤣🤣
😂😂😂😂😂😂😂
He really needs to be worrying about the IRS finding out.
Hahahaaaa
An then ask for more
I think Dave handled it perfectly. This kid is brilliant in internet sales. E-commerce is sustainable and is projected massive growth for the next 30 years. College is a luxury here. Not a necessity. His Mom is not on his level with business and finances. And he needs a mediator that can explain it to her on her level. I also, agree with Dave that having more skill sets learned in case it dies one day is a smart back up plan. Well handled phone call.
*Father magically shows back up*
"Hello SON I've missed you, daddy is home now!"
I found the milk! It was in the back
@@AJGori34 🤣💀
I’m sorry for not being home. Let’s go play catch together. Oh about your business, how much are you making.
Come to poppa
Just like Waterboy
This kid figured out how to make $50,000 a month on the internet... college won't teach him that, so don't go to college.
He would be like Rondney Dangerfield in Back to School telling his instructor everything he's leaving out in his lecture in building a virtual store
Absolutely right!!
I got more out of high school than I did one of the highest ranked schools in the country. College and how much it costs today is suuuuuch a problem.
This sounds like something that someone who didn't go to college would say, like Dave said it's not about going to college to make income it's about the valuable lessons and knowledge that can be obtained through college. Sounds like a bunch of junk but it is an incredible life experience that shouldn't be discouraged.
@@Sl0thOfficial right, most people don't try to keep a 4.0 in school, they think they just need that piece of paper when they graduate then they're dissappointed
Some parents really have no idea how they can crush their kids
You're right.
Very Very True.
My parents destroyed my education up till highschool. I ignored them in college and made it. Any time they would talk to me about school, I went mute, didn't even tell them why I was doing that. Should have done the same with other aspects. I can't imagine what I would have done without that damage. All in the name of helping me too... so sad.
Tony what were they saying that would bring you down?
I agree
He’s going to get a great “education” when the IRS comes knocking at his door looking for their cut of his money. 🤣🤣🤣
Yeah as a single he doesn't have many deductions he can qualify for...
Best comment I've read
I really respect Dave, his financial advice is spot on..however the absolute WORST advice is to tell your pastor that you are a 16 year old with 300K that no one else knows you have.
The WORST
True that, but Dave is giving example of someone who can communicate and mediate between 16 years old kid and mommy. Now the video is 3 or 4 years old. I wonder if Dave can do a follow up with him. It would be interested to know.
Pastor would disappear to Thailand in a heartbeat.
Money left in PayPal is not FDIC insured. Better move that money.
In Europe it is at least, Paypal is a bank there.
its b never trust it, boom. freeze
@@poabeaving man, this kid is lucky. Doing 50k a month and trusting that much to be on PayPal is mental. If i were him, I'd move that money to a virtual bank account. I'm going the exact same thing as he's doing and doing double the numbers he's doing per month. However, PayPal is known to rip a second hole in your rear end and hold all your money
PayPal stores its money inside banks, so I think it is indirectly insured. For someone to lose their PayPal balance, the banks that hold PayPal's deposits would have to go under.
@@gregheffley2 PayPal used to be known for very shady practice, like freezing a person's entire account. Only to receive it 180 days later.
Secretly a millionaire lol, this kid just called to flex
tadm123 how is he a millionaire? He has 300k. Believe it or not 300k does not equal 1mil
FerdDoesWeirdThingsInLife will be a millionaire in 2 years, if he keeps this up...
@@ferddoesweirdthingsinlife1040 2 more years whatever he's doing will be a mil with 300k now if true🤔
Charles Thomas still not a millionaire
@@ferddoesweirdthingsinlife1040 true
Alright, he’s 18 now. He needs to call Dave back and spill the beans
Says he's 16 sounds like he's 40
ikr🤣😂
Yah stress can be one dam thing
nah he sounds like he's 37
Stress
The caller might be trolling but 16-20 year old dropshippers pulling in at least $20K from ecom is a real thing.
His deceiving his Mom for a reason...She'll take all his money and tell their relatives of the goldmine they have. HIs rent is just about to go way up. Better to move out NOW.
rob's garage Deceiving the IRS is going to be a bigger problem for him.
I told my mom I made 400% in crypto one time and she told everyone. :/ only trust yourself
Wise.
PayPal will send 1099 to him and irs
@@TheNuclearBolton You probably know this now and also learned the hard way, but you cannot trust a women with secrets or anything else.
If he can make 20-50k a month for a year, hes pretty much set for life if he invests it right.
😂u expect to live off 240,000-600,000 for the rest of your life ?
@@PrimeHandlez reading is a very important skill my friend. "If he invests it right" that's the important part you missed but i don't even expect you to know what an investment is .....
Khoa Do ig bro not enough tho
@@PrimeHandlez ok explain it then cause saying without facts or explanation is useless
50k a month for a year and invests just half of that in real estate or something, stock market etc. Definitely set
That’s an amazing achievement. His mother should support his decision to be an entrepreneur. Incredible!
"Ecommerce won't exist in 20 years" Tell that to Jeff Bezos...
Lol he’s behind the times
That's not what he's saying. The arbitrage nonsense is what will go away.
@@552mustang At the volume he is doing possibly, but remember Amazon just started with a goal of just selling books, but look how its evolved.
No he said dropshipping won't.
@@raysdecre5320 when you’re profiting 50k a month you’re more than likely not dropshipping
He will get his "education" when PayPal locks his $300K account.
Why will PayPal lock it? Because of the tax bracket?
They can’t keep his cash and news flash these young kids are making six and even seven figures. Look at the kid Ryan. Under ten worth millions from youtube
Nichole Diaz bruh you realize that kid Ryan’s money goes to his parents right?
Tee Bee it’s his age that is the issue.
yea youtube needs to adapt the laws young actors have in place. but still he makes a lot of cash
Haha, he talks to his pastor and it will be like "God needs your money."
10%
Those churches are fake and don't teach what the REAL bible asks for.
I pay my tithe. Has nothing to do with God needing my money. I give God 10, He blesses the 90.
Airwolf39 you give your imaginary friend 10 percent? Lol.
@@PreachPiranha The Bible describes God as a "good father". Its difficult for some to understand what that feels like when they are not raised with a good fatherly figure in the home.
Investments are a way of providing funds for the generation of future income or profits. Investing allows individuals to put money aside while they go about their daily business, let the funds work for them, and earn income for their work in the future. It is important to invest wisely, make informed decisions and carefully weigh the risks and potential rewards associated with each investment opportunity.
Sherman Williams Trading is the best you can ever think of, I have made fantastic profits every month since I started investing with him.
My net worth is currently $278k and I continue to make more profits not to mention the business ideals it offers and helps you grow your business.
I received a recommendation for Sherman Williams Trading and am trying it out, even though I was skeptical at first. But I started with $4,000 as a beginner and won $28,600!
I daresay he was a rare strategic genius.
Sir, the world needs many people like you.
Investing is a stepping stone to success, especially under the guidance of professionals. Is Sherman Williams Trading that good? ? >
I wonder how many of these calls are prank calls
All of them. lol
Yeah man, i sense bs in this, theres either something missing, or hes lying
@@jdensaucer6553 drugs
wow u guys are dense
I am not born yet, but I make about $100k per......day!
😆😆😆
That's on my bucket list
He’s not lying
@@RashaadRahh-EL-BEY true, making $100k per day if very possible, I'm 14 and somehow managed to make $43k in February so I know the potential, I'm aiming for $1 million in sales by the end of the year
Harry Edwards dafuq are u guys selling...
This “16 year old kid” sounds like he’s 25-30 lol
It's fake
He doesn't imo and im 15
Fake
True also you have to be 18 to own a PayPal, eBay or Shopify
@@Axtrosity and you can't put a different age on the internet! Just how is this possible!!
Dave Ramsey's insights have been a game-changer for me! His practical approach to financial management has empowered me to take control of my money and work towards a debt-free life. The Total Money Makeover is my go-to guide, and I appreciate how he breaks down complex concepts into easy-to-follow steps.
I came here to learn about how he made this money, not about telling his mother about it.
Exactly
"I have all my profits stored in a Paypal account" I flinched
Yeah why didnt Dave tell him he should learn about investing?
Leaving your money on PayPal is ridiculously risky
@Michael 'Phantom Foul' Jordan why put it in bank ac with intrest rate and paypal is not safe u can lose your ac easily
imagine getting limited ...
@@mcbakebreadjr5180 LOCKED lol hes cappin
You need to be 18 to have a PayPal account. Take that money out rn before they take it from you
Yeah bro he’s playing a stupid game keeping it in his PayPal considering u have to be 18 to use it they will take that money
For sure! I had a paypal buying phones and flipping them for huge profit margins, and had about 2000 in a month stored in my paypal. I took the money and put it in my bank account and got another $300 and got a message from paypal telling me I need to provide an ID and I couldn’t prove I was 18 because I was 14 and they kept it lol. Eventually I did get it back once I turned 18 though
Umm nah had a PayPal account at 14 to pay for MMORP games memberships
Rocky So Social I can guarantee you have to be 18 bro the policy is still in place. Maybe just to receive money though I’m not 100% sure but I used my birthday but in the year 1981 to make my account lol cause I was only like 14 when I made mine as well but now I’m 18
@@bobfeczko6828 I can see it's a rule right now so sure you're right. It hasn't always been this way or at least we took advantage of a loophole, I remember it was a hassle but I had my very first bank account connected to it as soon as I turned 16.. which for sure means I never lied about my age to get it and my parents have never had anything to do with it so couldn't have helped me.
For context and anti-fraud purposes here in the UK tranasctions with the bank usually verify correct, name age address and DOB of the Paypal against the service or Paypal
This poor kid is going to lose everything once PayPal bans his account. 2-5% dispute rate and they terminate it and take all your money, happened to me.
First of all, That is illegal for them to seize the money. Hold for investigation... Sure, but not permanently seize. Second... Just because it happened to you and you didn't have the knowledge to regain access to your assets does not mean what you said is true.
@@PhrostyGaming Hey Michael, I don’t know what your deal is but this feels like an attack on me, you’re also wrong.
PayPl has the right to seize his money, they’re a private company and their claim is for violation of user agreement which they state is a “damage”.
PayPal also blocks you from contacting their support so it’s impossible to email, phone, or dispute PayPal’s actions on your account, once they seize your funds you can’t get a hold of them.
@@johnnyapplesmith Bank's are also private entities that are entrusted to store your assets just as PayPal is. All I am saying, is that if this happened to you, contact a lawyer to sort it out. A bank does not have the right to permanently seize your assets unless ordered to do so by a court, therefore, neither does PayPal. You sound like a child who got his allowance taken away. Obviously you have no clue what you are talking about.
@@PhrostyGaming Again, what’s with the personal attacks? It sounds like you work for PayPal or something, is that it Michael, you work for GayPal?
I know what I’m talking about. PayPal is not a bank and doesn’t have to follow the same laws, they withdrew all my money into their own account, you even acknowledge that what they did was wrong because you told me to contact an attorney, but then your next sentence was an attack telling me I don’t know what I’m talking about.
Look chief, I had about 3.5K sales, 2.8% dispute rate, and I won about 95% of my disputes. One Muslim scammer charged back 22 times from their bank, something that neither the merchant or PayPal has control over. I reported the buyer to PayPal, they ended up banning my account for “risk”. They are an evil company.
I’m not paying for an attorney who won’t accomplish anything, PayPal has the best lawyers and like I said before, they own your money and can take it for themselves. I don’t think you know what you’re talking about, until you do, my advise is don’t comment.
@@johnnyapplesmith How old are you kid? I’ve ran many successful and unsuccessful online businesses since 1999 using PayPal as my main payment processor, I’m pretty sure I’ve dealt with these situations many times and can confidently say that you are wrong. Based on your revenue figures, you sound pretty new to this type of business and may need to seek legal assistance to sort it out.
As for the “personal attacks”, although they may have been made with bad taste, they were not inflammatory. Just goes to show how immature you are I suppose.
She sounds like the type of mom that is extremely overly protective and old fashioned but when proven wrong wants some of that cash. "I raised you give me 50% until you move out."
@KASHMAER 😂 Definitely not
This guy needs to be on Graham Stephan show.
Yes - Graham features people making money on the internet this way often. And yes, many other people are out there making money this way...
He also needs to watch Graham Stephan's videos because Graham would cringe after hearing that he's letting all of that money sit in a Paypal account instead of putting it into a high-yield savings account.
I think he would break the glass of $.20 iced coffee from clenching it so hard
Yeeeess
@@StephJ0seph In America you need to be 18 to open up an account. Hence the mom issue.
Not his fault he is leaps and bounds above everyone around him. People fear, reject, and disapprove things they dont understand.
👍
Right!
Or nobody cares about this kid...
Ben Simmons fu ck you kid
Quốc Phạm thanks man
I’m not sure how true this is. First, having 300k in a PayPal account while 16 is unrealistic. Im sure paypal would ask for some identification at that point. Second 300k in 8 months with no marketing/ advertising knowledge is absurd
As a drop shipper myself, trust me drop-shipping is going to be here for a long long time. He said 2-5 years but this is a growing and booming industry, there is a high demand for people's personal needs, gifts, beauty, and baby products. Shopping online will never go away, that kid will be good for the rest of his life guaranteed.
Where to find more info about dropshipping business?
@@megabeyondUA-cam bro
I'm wondering how this is even legal.
@@janetslater129 why would it not be legal?
how do u get into that
Since he didn't tell his mom, I'm assuming he hasn't paid taxes. That's scarier than the method he makes his money.
He hasn't been doing it long enough to pay taxes on it. Now when 2021 rolls around, ehhh.
@@FameeGFX Pretty sure he said he has been doing it for 8 months and this video was posted in April 2019, which would mean he had an earned income in 2018 which he probably didn't pay the taxes on.
@@TheQuickyouknow You right. I didn't even pay any attention to the post date. That is scary then.
Shopify has a built in feature that deals with taxes on sales for you
@@joshscheitler7741 really???!
Your PASTOR!?
Seriously? Dude get a independent, experianced financial advisor. Make a plan. Tell your mother when you are 18.
Dont keep all your money on PayPal, diversify risk.
I really hope this kid sees this. Its very rare to have a preacher that isn't a complete poor at the very best. He needs professional advice. Get one of Dave Ramsay's recommended financial advisors and go from there.
Because he is a minor isn't his mother not only liable for his taxes but any lawsuits arising from product issues? She needs to know now. He may owe half that money to the government.
Good advice, if this was real. There's almost 0 chance hes making that much drop shipping onto ebay. No margin to be had: pay for your store, pay for the dropshipping app, pay for the item, resell at a near loss on ebay. even if some small miracle occurred: the product he chooses will run out of steamnvery quickly. You're right tho, the 50k this guy probably actually grossed in 9months ; he should probably go to a financial advisor.
@@mccarthykane3960 exactly why he needs a legit financial advisor
@@mattyp3119 Actually shopify only costs around $80 a month. The products cost about 25% of what the dropshipper sells them at, and then they spend about another 25% of the price on ads (usually facebook ads). About 50% profit margin total. Depends on the ads though. Many people teach dropshipping online and make six figures a month gross. Ebay arbitrage is a totally different thing and is probably a very small portion of his income.
Me: *googling what e-commerce is while listening to him explaining it*
Right
🤣🤣🤣🤣
Exactly 😂
It’s always funny watching dave hit the button when he’s done listening to them to mute them😂 then he keeps talking for another minute or two
Dudes be calling this show lying for no reason man 😂
Not a lie bro I’ve been doing e-commerce for about a year now and I have had 18k days.
@@masonbandurske3010 Where can I learn more about this?
@@masonbandurske3010 how
@@masonbandurske3010 How
Gumbo Jambalaya just look it up there are courses online to show you how
And here i am sitting Jobless with my Engineering Degree .
Your fault.
You being jobless is not the problem. The problem is you sitting while being jobless.
Starcade 85 talk radio mate what are you talking about
I got job offers of 100$ per month, only Sundays off. Should i join ? Or stay home?
Dave Ramsey fans are the best.
as soon as i heard “all of my profits are in paypal” i cringed
what's with paypal?
@@woibacawoi they can hold your funds for 180 days for any particular reason without you being able to do anything with it, so if his funds get locked he won’t be able to touch his money for 6 months, and since the paypal acc is in his name and he’s under 18, when he tries to take out his money their gonna realize he’s not legal age and hold his funds
@@H8RofShotguns well that's rough
@@H8RofShotguns Yeah happened to me with my ecom business, they froze my paypal acc, got it back later though.
He's probably selling a "program" on how to start a drop shipping business where you tell other people to start a program to show people how to start a drop shipping business. That or he's keyed into something Amazon doesn't or won't sell.
Hope he is reporting this to the IRS, because PayPal will at the end of the year. Going to be a real wake-up call for him to see how much he owes in taxes on $300k+ net income.
You can’t even have a paypal legally until you’re 18 unless you have a parent be the primary account holder. I remember I had mine locked because they found out I wasn’t 18, had to wait like a year with 1000 bucks sitting in the account lol.
@Imran A yes, all income is taxed no matter what your age is
@@jamalnasir5648 I'm 16, so if I worked a retail job I would have to pay taxes at the end of the year? Or my parents do it for me?
@@newchangeunlisted_viewer5594 If you are 16 and working part time and make less than $15k for the year, you will not owe any taxes and will get a nice tax return in fact when you or your parents file the following year.
Norwegian Blue shopify has a built in feature where you automatically pay taxes at a sale
Becomes a millionaire
*mom still wants education*
Thelondonbadger yep
Thelondonbadger Society in general is brainwashing many we were all taught to follow rules...go to school..get married like it’s a must then get a job
@@klopcodez Thank you! Self education is best especially for self made people like this kid. Folks really don't understand the times we are living in....
How ironic that it's easier than ever to educate yourself and make money without debt, yet we have almost every child going into college and immediately accruing tons of debt without a proper education.
bruh, just do the easiest one then. lol.
This is amazing to me, it's really inspiring being a 16 year old myself and hearing stories of what other teens have accomplished. The only thing I'm wondering is how he was able to make that much on his own, at least when it comes to the policies that some of the websites have that he mentioned. Not that I don't believe what he's saying, but Shopify I know requires a SSN at some point and I wouldn't be surprised if PayPal did too. Especially with that balance and the many transfers I'm sure were made. Interesting story though I hope the boy is doing well now.
well he's doing it entirely illegally because ssn is underage. What he's doing is really dangerous. Any time, those funds can be revoked and PayPal can sue him
@@uncertifiedlinguist8396 interesting it is illegal🤔?
@uncertified linguist then why wpuld he call this show for all these people to see? It's because it was a prank call. It's very unlikely that he was actually a 16 year old making twice as much as a doctor. He's not even old enough to develop these kinds of skills. I would be really impressed if it was real tho.
@@uncertifiedlinguist8396
Really it's not legal?
Tell me fast how i can do what he did hurry up bro 😀
@@joshuaallen9501There’s really no skill. Ever seen a tiktok video with 20m views for absolutely no reason? It’s dumb luck and persistence mostly.
The IRS: Write that down, Write that down and write that down. Make sure to get his address too. 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Facts
Dave: Don't take financial advice from poor people.
Also Dave: Go talk to your pastor.
Because if you go to church, you want to trust your pastor.
The pastor is for spiritual advice.
The pastor will say he have been a sinner and must give every money he have earned to the church so God and Jesus will forgive him.
KeNost82 definitely not true
@@KeNost82 That practice has long been against church teachings.
Pretty sure this guy doesn't pay taxes.
PayPal reports income to IRS. He probably pays. Hed be stupid not to because the IRS already knows about it.
Shouldn't have to
He has only been doing this for about 8 months, that's not even 1 fiscal year. He doesn't have to pay taxes yet, no one would.
@@stevieescobar9466 are you dumb. Look at the tax code. He definitely has to pay taxes
He doesn’t
Awesome! great advice Dave, love listening to you and your advise.
Bad advice
@@baruchevenezra7279 Why is that bad advice?
This is a stepping stone for him to parlay this into the next thing ,Dave idea of college is good idea too ,at 16 mama needs to know !
If I’m making $50/month, I’m telling no one.
Tell me your secrets
Especially Dave
@@tuleachor387 I figured out a way to make good money online at 16 but it’s was more of a exploit than anything
@@thtboiz9443 oh ok
Yea cuz $50 a month is kinda embarrassing
I can not imagine having a problem with your child starting a business that makes 50k a month.
Its called greedy parents
Right lol
Until your parents rob you.
Or it’s not legal; or not paying taxes.
The problem is it’s figured out a way loads of cash but he knows nothing life experience about money does it know what he has only time will do that when that time comes hopefully will have $50 left
Four years ago, I would love to know how he’s doing now.
Dave needed to bring up taxes for this situation. The kid is about to turn 17, he doesn't understand annual taxes and if this kid gets caught not paying (probably a large chunk of) it, things could go bad.
Oh, and Dave saying, "there's nothing wrong keeping it in a paypal account" was a bit crazy. He has a paypal account at 16 without an adult attached to it, meaning paypal could freeze it all.
Hes 16 and has 300k in his account I think he prolly knows
@@dougsmith3821 He's 16. he probably doesn't know
yea I remember looking up careers and how much they each made a month, when deciding mine. I thought the pay seemed incredible....I wasn't factoring in taxes.
I’d be nervous about having that much money in a paypal account. As established as it is, still scary to have six figures at their mercy.
yep payapal are gangsters .They can freeze your account for any reason and good luck trying to get the money off then
Thinking its fake, you need to be 18 to have a paypal account, if you have received/sent more than 10000$ you need to verify your account so I can't believe this in any way. And you need a credit card to start a dropshipping /shopify store so I call bs
@@geldofs he can have a joint account with his mother, and open the PayPal account that way, and since his business is on the internet, really no need to transfer back to that bank account. Can even apply for a PayPal credit card, he also stated his mother is not tech savvy
@@SoFLaZ06 true
@@geldofs you dont need to be 18 to have a paypal acc, you dont even need to be w8 to setup your tax info for it. He is prob telling the truth. I do online business as well.
3:54 Dave, let the kid talk! I'm taking notes over here!
IK ME TOO
AdversaryOne omm
Drop Shipping and Shopify, Amazon FBA. Do some research, you'll find everything from there
AdversaryOne 🤣🤣🤣
For real!
Dave Ramsey hearing about teenager making $50k per month: Go to college!
Also Dave hearing about $300k college debt: Goodness! Stop living lavishly!
he don't promote universities
Omg don’t keep it in a PayPal account that’s dangerous at 16 I lost my account because I was under 18
@@account5223 Pretty sure you don't have to disclose your age when you sign up but if at any time Paypal gets suspicious they'll ask for your ID and then it's all over.
He should buy a better phone.
Bad investment and a waste of money
This is the richest man in the history of man kind listen to mansa
Mansa Musa still making more money than you.
Mansa Musa is the richest man in the world, According to rich people history.
Sounds like he is talking from the international space station 🤣
Really wanted him to let the kid keep talking about how he was making that kind of money.
McCarthy Kane called dropshipping, I’d just look it up. Basically you make a website and put products on it. These products are made in China and you are just the middle man. You sell the product and ship it directly to them from china
Jack Russell is wrong he is using coupons etc to sell items he does not have on hand, he makes a small profit each item that sells on eBay or amazon etc (this is against their policy and he will probably be banned shortly) basically he gets an item uses coupons and other rebates and ships it from the store to the buyer
@@jvceruss Thanks. I know what dropshipping is, I was hoping to hear about his products, appreciate your input though.
Jace is correct it's the reason while companies like Alibaba are so valuable these days. Its relatively easy and low cost to start but difficult to make 50k a month
Kamel Purnell Difficult to make $10k a year.
I have 40% of my portfolio in TSLA, 30% in AAPL, 20% in AMZN and 10% in NASDAQ.. From March I've been able to make $370,000 from an investment of $180,000... While I'm a huge fan of stock picking, I have made a few rather modest investments in individual companies...I use a financial advisor/broker who handles my portfolio...I'll never stop buying TSLA stocks
@Hill Landry good for you, what investing apps do U use and what would u recommend I’m beginning
@@d.a3474 well so far no investing apps too techy techy for me..i use an F.A from harvard Mrs Koss. Lucy Maria Koss (look her up) goodluck!
hmm..high end investors seem to looks forward to market fluctuations to make huge gains that's why they use brokers and If you ask me i think they're responsible for jinxing the market
'I will never stop buying an X company' is a dangerous game. How many well known companies in the 1990s no longer exist now? Many. 85% of companies that were trading in the S&P 500 in 1960s no longer were trading by the 1990s
These titles just get more ridiculous and unbelievable.
It’s very, very sad to me that he feels like he can’t tell his own mother what he’s doing.
NurturingTalents Good be. That’s also sad.
Probably make him donate it to jesus
Theres a reason he's not telling her
His mom would probably make him give 90 percent.
Sad? thats the way of parenting.
strict and closed minded parents probably
Dave overtalks him cause he doesnt want him leaking the tea in public lol
AHA!🤔
Sure seems like it. Just when this little kid is about to keep rambling with useful info Dave has to steal the picture to keep it all about him, he knows its not about actually trying to help people financially
@@1m2a3t4t5 facts
This is what i hate with dave he just want u to save and, what if you aint making but so much. Now he has someone that actually has the plug and he blocks us from getting the info, topical.
Nah that's not it. Drop Shipping is straight forward.
Hopefully he's paying taxes, those 1099s are being reported to IRS in those amounts. If he loses the Amazon or Ebay account his entire world is going to change....
16 year olds pay tax? I’m 17 and don’t have to pay any tax whatsoever until I’m 18...
@@Jem_Apple Everyone pays taxes, age doesn't keep you from taxes, look at your paycheck, there should be deductions. You might not make enough money to owe at the end of the year. But if you were making $50K a month, Uncle sam still wants his cut, he isn't going to say "Well you're only 17, so you get a free pass"
I just want to meet Jake, or at least have a conversation with him out of respect and to learn something. This is very motivating and intriguing.
"Are you in a good church?" A statement you would not hear in the UK.
All the stories have been told
Of kings and days of old,
But there's no england now.
England? where 99% of Christians don't go to church, and those that do go are mostly elderly and foreigners, a country where churches are sold and converted to private residence at alarming rate. Beyond sad!
Maybe that's why you've gone from a global empire to a bunch of islanders yelling at each other about brexit.
"Do you go to a good mosque?"
UK wont be a country in 50 years
He needs to tell his mom so that she cannot claim him on her taxes. He is making too much. He needs to get his taxes in order first. He needs to hire a tax professional.
He’s still a dependent, he better tell his mom before tax season or the irs is gonna have a field day.
Wait is that a thing?
as long as he don't spend it he can always pay his back taxes later
This guy just said that e commerce isn’t gonna be a thing in 20 years🤦♂️🤦♂️🤦♂️
Pastor will be his best friend and will want him to tithe 10%.. for a church with 30 people...blessed!!
Dave is saying that most likely no one with business acumen is going to that church. The young man knows this. So this is a tough one. Praying for him!
TheTread123 he’s a troll
@@alicronaldohitman I doubt it because I ran a successful dropshipping business in 2009 at 10k a week. That is gross amount, not profit. As of today I still work from home, but do not make that much.
I know it’s possible but this sounds a little fishy.
@@MisterUrbanWorld please invest in monthly dividend paying REITs. The cash flow would be like having a second job that you don't actually have to go to.
Lol coming out of the closet as a rich person😅😂👍🔥🔥
😂
Victor Reyes 😂😂😂 Good 1!
lol
🤭. Yeah well coming out of the closet is a term used for practically every truth telling session these days.
In a way its easier to make more money with no dissenting voices by keeping it a secret.
I wish Dave would have let him continue explaining what he does to make that much money. Someone explain how this works. Is it hard or time consuming? A teenager is doing this, why aren’t we?
im tryna take notes and dave steady talking 😂😂
If he were my son, I'd be sooooo proud of him - keep up the good work Jake
I want to adopt him and I’m 30
A big part of growing up is realizing your parents may not give you good advice. If your parents are broke, they can’t teach you about money. If you’re parents are unhealthy, they can’t teach you about fitness. Etc.. it’s difficult to admit, but young people need to realize this early.
There's enough holes in this story to drive a line of trucks through.
You're not kidding. The amount of capital this "16 year old" (cough cough) would have to put up to start this business would be astronomical. Total BS call but I think this guy just blindsided Dave. It's too bad that he didn't have somebody with him who knew about FBA's. They could have probed this kid into admitting he was lying.
D a i l y w e b E a R n . c o m helped me finance my farming business in Cleveland usa
Probably should tell him to make sure he is paying his taxes..
10 years in the millitary and I just saved up 50K
firstname lastname weak
MoparJon they weren’t flexing they were just comparing it to the fact that this kid made 50k in a month and they made that in 10 years, idiot
@krispy kreme excellent post
Jeez. I'm so glad I didn't join the military.
CamdenBloke no balls
My first thought was, how’s he gonna file taxes without his mom knowing?
IRS sniffing him down
No collusion, just ask the big man in the White House. He definitely knows...
He doesn’t have to file out taxes. The profit he’s making goes into his PayPal which means he’s not getting payed by checks. So the IRS doesn’t even know he’s making this type of money and it’s 100% legal because it’s like me going up to you and selling you a pair of sunglasses
@@sammysantana4585 They know, trust me. And they will wait about 5-7 years before knocking on your door with a huge fine.
Gabe Mabry @ I been make 10k- 25k a month for about 2 years now doing the same thing he’s doing. I thought the same thing that I would have to pay taxes but u don’t
I love the advice he gives, but not everyone is in a church or in faith at all. This kid is great!
I really wanna believe this kid just because of how well spoken he is. I wish him the best and hope he can figure this out.
I'm surprised that Dave didn't tell him to take that money out of his Paypal account ASAP and put it into a high-yield savings account.
He's 16, so can't open a bank account without the authorising signature of his mother.
@Alden Buyer before covid there were some 2-3% yield savings accounts but right now the highest I can find are about 1.5%. Eventually the rates will go back up
@@henrymarocchi7844 2-3% is still garbage, that just catches up with inflation. If you don't need the asap liquidity throw some money in investments.
because that's not a Dave Ramsay thing to say. That's a Graham Elliot thing to say.
But he did tell him to pay off his doll house before making any big financial decisions
Smart guy never let a woman know what’s in your back account even if it’s your own mother lol 😂
😂😂
😫😫😫😫😂😂😂😂
Facts
Fr
Never let no one know but u that's rule 1
Why do I feel like this kid is trolling him lol
I don't think Dave Ramsey really grasp the power of online dropshipping business. People make $200k+a month doing this!
But it isn't that sustainable. The competition is getting harder and harder. Plus 50 percent of customers are taken by 1 company (amazon). What happens if another company goes big, or Amazon continues to grow? Will he only have access to 20 percent of customers?
@@dontreadmychanneldescripti7104 well I mean at his age he can just move on?
oh wow....I'm really in the wrong business
do you actually believe that?