CNBC Make It. I live in Midland, TX. It’s an oil and gas city which can give people an interesting perspective on the economic potential. My email is claw0120@gmail.com if you’re interested in talking.
treesnmoguls my dad is a 401k planner and I used to file paperwork for him in high school. Seeing those loan amortization schedules freaked me the F out as a teenager. 🙅♀️🙅♀️🙅♀️
@@DOPExPIRATE I was being specific because the people in this video are specifically of Mexican ancestry. People don't have to talk about the entire human race when talking about specific ethnicities or nationalities. You're trying to arrive at conclusions that I never made because you're triggered for some reason. Are you jealous of these people?
The key job is having a family that helped set your life up like a bakery that right there helped the rest is easy starting from zero sucks but that’s the beauty you try hard now your future family won’t have to you build a future for your family his grandma is the real hero dam beautiful I wish more ppl would do the same and understand what it takes to make it you might not be the millionaire but your kids will
His in-laws’ willingness to sacrifice their already small apartment to house their family, and their willingness to live in a cramped apartment to save money, speaks volumes.
@@lefthanded5473 he didn't have 1 kid he had 2 with no home and savings... he spends money he doesn't have and takes 401k loans because he has bad credit. People live comfortable on 50,000 in nyc. His priorities are ridiculous... why have an expensive car and no place to live?
nicoleago true that 110k he makes with every thing he spends on will prob come out to 50 or 60k a year after tax money in his kids them self food car payment insurance etc he shouldn’t of had kids before having a house imo.im not having kids unless i have a house to raise them in that’s just me tho.
So happy for Jesus. He used to come to my work, while on his smart-meter job. He's one of the friendliest person ever. Since then we became facebook friends.
So much respect to him for becoming a young father and deciding to drop everything and work hard to support the family, unlike so many other men in that position
i'm lost. he's making a ton of money, has almost no expenses, but he's getting loans from his 401k and has no savings? something is wrong. he's obviously good at making money but i think he needs help with what he does with it
Why? Familia. He probably had to take that money out for Eduardo's daughter's quinceanera, Lupita's cousin's surgery, or a homies' sudden emergency. When somebody is seen as having money, familia gonna call them.
Take a look at 1:18 and you’ll see why. It’s actually pretty bad spending..not sure what the business expense is. He has debt already on his 401k...this needs some fixing for sure. He has good intentions but not the financial education piece
I love that he hugs and kisses his children. This is so rare in the latino community. Men are so cold and don't show love, especially not to their boys. He's a great dad. However DO NOT borrow from your 401k please!!!! "The Graham Stephan show" will probably review this video. Listen to his advice, he's very smart and critiques kindly.
I mentioned that 401k plan just to get his reaction haha! If everything goes too smooth it wouldn't really bother him to the point where he makes a reaction vid lol. Plus it was because Of Graham that I got in touch with Millenial Money in the first pl
Latino men love their children...my father is a brown man from South America and he's the mushiest, sweetest man. Same goes for my brother-in-law...so idk what few Latino men you know but that's a short-sighted response
Wow I can relate to this gentlemen 100% I live in Brooklyn with 2 kids and a sole provider making a bit less than he is and, my parents own a few houses and a family resturant. I know the struggle bro keep it up your young and going the right way.
😑 that’s not struggling when u can rely on a helping hand (mommy and daddy). Ya ducks just made bad decisions in life and are lucky to have someone help.
Simply because it's not mine I do not benefit from it financially or otherwise. Just like the individual in the video who's parents owns a bakery shop and, a house. Just because it's in thr family doesn't not mean individuals of that family benefit from it in anyway. In my situation I'm to myself nobody helps me. Married myself and, graduated and paid college myself. So please before you all make remarks get the full context of the story before making assumptions.
hunchoz hunchoz no one making 70k in NYC can afford a 1700 apartment. 1 that’s barely a 1 bedroom apartment and 2 there’s a lot of extra stuff u need to pay for when u have that apartment which leaves u with nothing. Why be so naive about this city, especially saying why move there when I can’t afford it. What about the people who were born here?
hunchoz hunchoz ....LOOK, you forgot to mention that NYC Sanitation workers have “dual” roles...they typically pick-up curb-side city/residential trash AND handle overall snow removal for the city (during winter months). That’s one of many reasons of high ($90K+) per year salary though.
@hunchoz hunchoz it's such a great page to live thats why there's a mass exodus hahahaha. I swear TH-cam brings out some of the stupidest people on the planet. Congrats on being one of them.
@hunchoz hunchoz go back and read your comment. He said it was a rip off. You defeneded the city. Clearly by definition, you like it. That's cool. People obviously disagree with you otherwise there wouldn't be said exodus. And I make almost 100k and I don't work in a big city. Your argument is INVALD sir.
You should put money into a regular savings account so you’re more liquid . Taking a loan against your 401K will not be a wise choice. Continue saving and cut off some of your expenses and you will have your down payment for a house. Blessings to you and your family!
Hold up - He is making $110k a year, and his supervisor salary is $80k which means the other $30k supposedly comes from Amazon fulfillment. However, he has $2500/month in “business expenses”, which is presumably the cost of the goods he is selling on Amazon. That’s $30k/year which means he is making zero profits from this “side hustle.” He should probably find some other part time job that actually pays him more than it’s costing him.
The $30k is his estimated profit by the end of this year, already having factored in expenses. He's on track to gross $80k in Amazon transactions. Last year he made $20k off of $70k.
I’m confused by this as well - the business expenses were also included in his monthly spending, but that only totals 66k a year. Other than taxes, where’s the rest of the money?
I'm glad to finally see someone with kids and he lives in NYC that's a plus. However, I don't believe they only pay $100 per month rent. And no one else is concerned that half his monthly expenses are for his side business? $2k a month? That same amount of money and he could buy his family the house they want. Is that business really making him money? It seems to me he is spending as much as he is making from that side business 🤔
I think including his net earnings would be important here... given he’s getting taxed hard with self employment, NY, and COGS from his side business so that $30k is really more like $5k net lol
Luke i exactly, hes not making no 100k a year... and that “job” he has doesnt seem safe investing your time in especially when your wife doesnt work at ll and brings in no income
Issa Rae's Body Double well most of these vids don’t include side businesses that probably operate with super low margins like amazon FBA. 30k gross sales seems weird to consider as his personal income when his take home would be a fraction of that
This is amazing. Hard work always pays off. After 12 years of working (age 12) 5 years in university Paying 80,000 in tuition, walking out debt free Working day and night in landscaping and as a cook, while also being a full time student. I graduated and became an accountant. Working in Atlanta. Dreams do come true You just have to bet on yourself
@@alexbob5209 You can have a high income in ANY industry. You can be a janitor with a successful janitor business and make high income. You just have to be the best at what you do.
Living crammed in a tiny apartment with in-laws and "hustling" aka struggling to have a decent live as a family, welcome to reality for many people, it sucks
I live in CA, cost of living is high over here. But I wouldn't want to live anywhere else. I'm 45 minutes from ski resorts, 2 hours from Las Vegas, 2 hours from the beaches and a 2hr flight to Cabo. I wouldn't trade that for TX.
dude that car payment is ridiculously high! We make more than double your income with one child and drive a crappy toyota we bought 10 years ago. But he seems like a great father making it work. I enjoyed this more realistic millenial family.
1000 a month for car payments, insurance and gas ... he's extremely irresponsible. In Brooklyn he can take the train and have a down payment in a year.
Yeah but he’s not going to put his kids in that ridiculous situation, with weather the North east gets. 440 for a car payment is not high. Perhaps in middle America, but not with the tax implications in NY, and for a crossover.
@@MaximusTheChosenOne 450 plus 300 for gas and insurance I take the train from my home in the suburbs and because of that my 56000 a year covers a mortgage in an upper class area of queens
I don't know why I hate people that say "I wasn't born with a silver spoon in my mouth so... blah blah blah". Neither was I but I don't go around making it my conversation starter...
Sounds like he's doing retail arbitrage where he resells hot items or products he thinks that will do well. If you find a decent niche on Amazon, you can make good money but the margins are low, fees are high and there are lots of sellers. He is doing very well though. Source - I own an ecommerce business
Basically you have product and then you ship it to amazon. Amazon lists it on their site and then you paid when when amazon sells it. Amazon does all the shipping to the customer part. You just need to find the inventory to ship to amazon. Problem is that it is very cut throat competition and if you aren't good at finding deals then you'll end up losing money.
Jesus you should look into purchasing a home out here in Houston Texas. Out here you could purchase a two story home with a back yard in a nice neighborhood for $200k-$260k the city is great and the people are diverse. Lots of Latinos and ethnicities.
b he would have a large home to raise his kids. Pay zero state taxes. And he’s an adult with kids I’m sure he’ll be fine moving away from Mom and Dad just a couple states away. Probably make more in the Houston area since the city is the oil and gas capital of the world.
Actually I never thought you were going make it no where’ In life Im so proud of you big brother I hope you continue on what you love doing the most you’ve become a role model in my life keep it up bro
can someone explain how the heck that amazon thing works? he buys from staples, but price matches amazon... so how. does he make a profit selling on amazon?
His expenses: $5639 per month x 12 = $67,668 per year. His earnings minus expenses: $110,000 - $67668 = $42,332. Gross profit: $42,332 per year. ( Not including Interest on dept, income tax, and inflation ).
If your making that much money and living in a tiny apt why would you have to take out a loan 🤷♂️ just save.There a penalties for taking out of your 401k
I respect this brother's work ethic; he has a solid plan and it's good to see him making sure it all gets done. I will agree that he probably shouldn't touch his 401(k), but if he does, I feel like he'll end up fine because of his mentality and work ethic.
I would be out of NY so fast. Making 110k and living with his in-laws. I would be in Houston or Dallas TX so fast and find a job making 40-50k a year plus the 30k from his business. 70-80k a year goes a long way in Texas.
110k doesn't seem like much in New York , he looks like he 's living a minimum wage life. I'm afraid to see what a minimum wage life is in New York, probably the the homeless.
Bruh. Not even close he’s saving up like around 30-40 k every year to put down a payment for a house like he said . He only lives in that small apartment to save money like he said
“Leaving a legacy for my family.” This is EXACTLY what I dream of doing. What I’m going to do. Your hard work will pay off. More power to you and your family.💯
Sheyla Gomes Castillo there aren’t fees associated with that. You pay interest but that interest is paid to yourself (not to the 401(k) servicing company)
You only get hit with the 10% penalty if you're under 59 1/2 and take a withdrawal. If you take a 401k loan you're loaning money to yuh yourself and paying back with interest.
@@theshinythings123 I'm not exactly sure of how his fees and penalties will be because it can also vary by company. He should probably discuss his options with HR. However, what I do know is that by taking it out early he is missing out on the compound interest that is supposed to make his money grow for retirement. Also I have heard that in some companies if he leaves his company/gets fired he has to pay back the part of the loan they invested asap. Nevertheless everyone's situation is different and he needs to make his own decisions but 401k/IRAs/Roth are meant to be left alone until retirement to get the best benefit out of them. 🙂
these days it doesn't matter where you live. I am in the midwest too. Small town, population 60k but I freelance worldwide and bring in $180k working from home.
after taxes for that 110k comes out to him making around 71k with his $5600 a month in expenses ,no wonder he’s living with family his priorities is backwards ,he has more luxuries than necessities.
debbie totich that 2500 is a luxury, he should get his living situation in order first then focus on business especially when your bringing in 71k after taxes .
$1600 is super cheap for an apartment in NY. You can barely get a room for that amount. In a nice area in Brooklyn (i.e. Brooklyn Heights, Williamsburg, etc.) , you will easily pay $3400+ for a one bedroom apartment.
Jenny Li the in-laws must have been living there for decades or have a good relationship with the landlord who is not raising it ridiculously. Appears to be Sunset Park. 1600 indeed is a phenomenal price for 4 bedrooms. You can barely get 1 bedroom/2 bedrooms for that price anymore
Jesus Campos mind sharing your insta? I cant believe how much we have in common. We’re about the same age, close to same salary, both our moms make cakes for a living/business, Mexican, and we didn’t have a dad around lol...thanks for inspiring I will look into the amazon side hustle. I’ve seen some TH-cam videos on it but never thought actual people make money off it
For those curios of why his amazon selling business was not disclosed transparently because when a business is working you don’t give out its secrets. The gurus selling you courses making millions but are gladly selling you courses on how they make “millions” are full of shit. No great entrepreneur shares their secrets.
Making 110k and struggling it's not adding up. No daycare, rent is 400 car note 400. Only put 300 towards 401k. I can't see how his monthly expenses is 5600
@@itsgoingtobeok-justbreathe4808 if anyone is going to take that approach for business at least save more money for yourself first before allocating that much per month for business. Maybe I missed it if he has 6 months emergency fund. At 110k its no way he shouldn't have one. Not to mention he carries the kids for his income tax so he gets a nice return.
I don't understand the business model for selling on Amazon. So he buys from wholesale stores stuff that he sees are selling online for a higher price?
@@faywhite7886 I mean sometimes you waste more money on gas driving around for the cheapest price. You could be saving money by just buying the one that saves you the travel costs.
Normalizing people of color building wealth has been so empowering for me. Many people of color had parents that struggled to survive. I’m a black woman with college educated parents, and we lived paycheck to paycheck. Videos like this give me hope in my future endeavors to financial freedom and literacy. TH-cam has played a pivotal role in my financial education and videos like this make financial independence seem attainable.
Wow. Seriously impressive!! I have so much respect for him and his family. I can't help but look at myself ...same age, BS Degree, on track to med school , +10K in debt, BARELY secured a full time job, savings non existent. no complaints here but hey for a young dad he's definitely surpassed a lot of youth who've tried to earn financial success the "traditional" way
DrMovies I know right !!! There’s this Somali guy in Columbus who went to same high school. He is 26 years old and he makes over half million dollars a year. The best part is that he used to live a refugee camp in Kenya and he is first generation Somali-American immigrant
I'm sorry if this comes off the wrong way but it's really disappointing to see so many hard working 1st gen Latinos kneecap themselves by failing to use family planning/birth control.
To raise a family in NY and live comfortably you’ve gotta be pulling in like 250k. And when I say comfortable we’re talking a reasonable sized home/apartment, a vacation a year w/the family, ability to eat out every now and then, saving for retirement, saving for other life goals and be credit card debt free. This is if you’re the sole breadwinner of the household. Hopefully your partner is in a position to contribute This guy is doing what he has to do. He should be living a much higher quality of life imo for making 110k/year. Think about the majority of people in NY who don’t make that. Much respect to Jesus
His management job which pays great is only to support his family. He is more emotionally invested in his side hustle. I can see him doing well in real estate.
Dude leave NYC and move to the middle of the country. Your money will got alot further and you can invest easier. Your a hustler. You'll make your families life alot easier.
How is he price matching FROM Amazon to sell it back and turning a profit?? While paying taxes, shipping, AND space to store it all? He's gotta be barely making a profit off that because he spends just over 30k a year on business expenses. That means if this was filmed this month hes LOSING money off it. Plus, how much time does he take going to Staples for this while working overtime at his actual job? Appreciate a side hustle but this ain't it
Not only that, he isn't really making a profit. It says he made 30k but he's also wearing a coat showing it is colder when the video is filmed. Unless this is Jan-march of 2019, he's spent 20-27k on products and only made 30...for 10+ months of work. Not a good business model at all
What’s your budget breakdown? Share your story with us for a chance to be featured in a future installment. cnb.cx/32TYZ2K
CNBC Make It. I live in Midland, TX. It’s an oil and gas city which can give people an interesting perspective on the economic potential. My email is claw0120@gmail.com if you’re interested in talking.
claudia moran how much u make
Darius Tan This year I made about 120k Gross with my job as an Electronics Technician.
claudia moran that is pretty good
@@claudiamoran7745 can you help me secure a Job(any) there please🙏🙏🙏
It will really mean a lot to me.Am from Kenya.🙏
110k a year at 24 young Latino and a dad . Bro, I respect your hustle 🙌🏾🙌🏾🙌🏾🙌🏾🙌🏾. Your doing well
Christian Aviles get graham on the phone ☎️
Imagine how much he could dave if he was single and no kids lol
luisd8818 I don’t think he would have hustled as hard as he is.
No he doesn’t. He’s broke. His net worth is soo negative 👎🏻
Nice humble story
Finally, a parent! I have two kids as well and have been waiting for this kind of millennial money!!
I love you father. Jk in all seriousness thank you for providing me knowledge 💯💯❤️
Seriously a lot of millenials have kids.. about time they do one with parents 😉
Thank you Kevin! Would love to see your reaction to this 😄
Meet Kevin we need Kevin millennial money ASAP
And I’m waiting to meet Kevin!
about time we have a hispanic family with realistic lifestyle!! representing the American life with real problems and realistic approach to life
They have done other Hispanics.
Teame love I think this is the first family I’ve seen on the show- families are boring regardless of race most people ^ won’t relate to this^
They’ve done Hispanics... he’s just the only one that continues the minority’s stereotype of never moving out
House rental and life fee and 1 family 3 people according to the average everyone's income calculation. Not cheap not easy
When are they gonna feature Atlanta, "the Black Mecca?"
He’s gonna go FARRRR in life. Only 24...that’s very impressive. Well spoken young man who has real responsibilities. At 24 all I did was play 2k lol
Lol I'm 23 and unemployed, but I have been thinking about going to college and learning to drive though
agreed. I think I've squandered too much time, well it's never too late to play catch up.
I'm 23 and never had a job lol
I was in the Army (deployed to Iraq)
Banjo K how tf u make it to 23 without a job?
DON'T take out a 401K loan, DON'T!! Stay in that apartment as long as you can stand it.
treesnmoguls my dad is a 401k planner and I used to file paperwork for him in high school. Seeing those loan amortization schedules freaked me the F out as a teenager. 🙅♀️🙅♀️🙅♀️
Tell that to my family member 😂 they are on loan #8
You can take loan just be smart about it
treesnmoguls to buy a home you can do a 401k withdraw that doesn’t need to be repaid.
treesnmoguls he pays it all back
This guy is a real one
No matter what others do to try and stop or sabotage them, REAL Mexicans never give up and always find a way. Respect.
✊🏾🇲🇽💪🏽
Why only Mexicans ? Every race on planet earth has bums and hard workers.
@@DOPExPIRATE
When did I say only?
@@John_Q you said REAL Mexicans you should of said Genuine Human's you was being specific
@@DOPExPIRATE
I was being specific because the people in this video are specifically of Mexican ancestry. People don't have to talk about the entire human race when talking about specific ethnicities or nationalities.
You're trying to arrive at conclusions that I never made because you're triggered for some reason. Are you jealous of these people?
The KEY job is SIDE HUSTLE!
SONNY da CUSE Facts !!!!!
Mando !
The key job is having a family that helped set your life up like a bakery that right there helped the rest is easy starting from zero sucks but that’s the beauty you try hard now your future family won’t have to you build a future for your family his grandma is the real hero dam beautiful I wish more ppl would do the same and understand what it takes to make it you might not be the millionaire but your kids will
Yes ! I sell stuff teddy bears aside from my real job , I make 125 a year
Gaelle Kercy yes 125k a year. There is money to be made in the teddy bear industry.
His in-laws’ willingness to sacrifice their already small apartment to house their family, and their willingness to live in a cramped apartment to save money, speaks volumes.
That's the latino culture. Traditionally is common to have a multigenerational home. It benefits all the family.
Love seeing Latinos and Latinas on here being successful 🙌🏼💯
Yessss me too. We need to see more of this !
He's not successful he is wasting 1000 a month on car crap and has no savings its embarrassing actually I make 56000 and bought a place in queens.
nicoleago 110k at 24. I would say that's successful. Shouldn't of had kids yet though. He'd be much richer.
@@lefthanded5473 he didn't have 1 kid he had 2 with no home and savings... he spends money he doesn't have and takes 401k loans because he has bad credit. People live comfortable on 50,000 in nyc. His priorities are ridiculous... why have an expensive car and no place to live?
nicoleago true that 110k he makes with every thing he spends on will prob come out to 50 or 60k a year after tax money in his kids them self food car payment insurance etc he shouldn’t of had kids before having a house imo.im not having kids unless i have a house to raise them in that’s just me tho.
he is doing an amazing job!
He’s broke he’s making terrible financial decisions why buy a car when you don’t even have a place to live 🤣
@@user-vm4he3gk3c a car is something necessary. he is trying his best
So happy for Jesus. He used to come to my work, while on his smart-meter job. He's one of the friendliest person ever. Since then we became facebook friends.
Khurram!! I remember those 711 days my friend!
So much respect to him for becoming a young father and deciding to drop everything and work hard to support the family, unlike so many other men in that position
I agree, but you are more of a responsible adult by not having kids before you are set your self, then have kids and a family
@@blixx87 True, abstination is more respectable
Better to have kids when u got the money
Wow-what a hard worker. The American dream right there!
Thank you! Means so much to me.
@@jesuscampos1186 very impressive man... Keep it up!
@@jesuscampos1186 awesome story.. don't give up bro..💯 you will own a house 😊
Please leave your 401k in place, you will regret touching it
Can i ask why?
reason i ask is i was thinking about taking out a loan on my 401k.
Only if you live long enough to use it.
No regrets if desperately needed to feed your family.
@@oukn6293 don't expect to live past 55?
@@ANonyMouse627 Well with the way things are these days even 60 is lucky.
i'm lost. he's making a ton of money, has almost no expenses, but he's getting loans from his 401k and has no savings? something is wrong. he's obviously good at making money but i think he needs help with what he does with it
EXACTLY!!
Why? Familia. He probably had to take that money out for Eduardo's daughter's quinceanera, Lupita's cousin's surgery, or a homies' sudden emergency. When somebody is seen as having money, familia gonna call them.
Take a look at 1:18 and you’ll see why. It’s actually pretty bad spending..not sure what the business expense is. He has debt already on his 401k...this needs some fixing for sure. He has good intentions but not the financial education piece
@@PrettynCleanASMR exactly
@@PrettynCleanASMR business expense is for his amazon side hustle job
I love that he hugs and kisses his children. This is so rare in the latino community. Men are so cold and don't show love, especially not to their boys. He's a great dad. However DO NOT borrow from your 401k please!!!! "The Graham Stephan show" will probably review this video. Listen to his advice, he's very smart and critiques kindly.
I mentioned that 401k plan just to get his reaction haha! If everything goes too smooth it wouldn't really bother him to the point where he makes a reaction vid lol. Plus it was because Of Graham that I got in touch with Millenial Money in the first pl
Really quickly, I am not latino, but there are plenty of men who are loving to their children. Might not be in public, but the man is not a rarity.
Latino men love their children...my father is a brown man from South America and he's the mushiest, sweetest man. Same goes for my brother-in-law...so idk what few Latino men you know but that's a short-sighted response
Jesus Campos how did you reach out to them?
Really? You believe all that to be true?
This is the new middle class Murica. Hustle is the struggle.
boom suga 80k used to be a good salary, but the rich jacked all the prices up, including housing to squeeze middle income folks
Mexican has always been the hustle Mexico 🇲🇽 you got it from the West Cost 🥰
America was born hustling. It is part of the american work ethic.
Candice Martinez as a fellow Mexican. Wth are you talking about? You’re not making any sense
Eddie Acosta you are not getting the fu point
Wow I can relate to this gentlemen 100% I live in Brooklyn with 2 kids and a sole provider making a bit less than he is and, my parents own a few houses and a family resturant. I know the struggle bro keep it up your young and going the right way.
He is not struggling lmaooooo ......apparently
😑 that’s not struggling when u can rely on a helping hand (mommy and daddy). Ya ducks just made bad decisions in life and are lucky to have someone help.
Your parents owned a few houses and a restaurant?? How were you struggling?
Simply because it's not mine I do not benefit from it financially or otherwise. Just like the individual in the video who's parents owns a bakery shop and, a house. Just because it's in thr family doesn't not mean individuals of that family benefit from it in anyway. In my situation I'm to myself nobody helps me. Married myself and, graduated and paid college myself. So please before you all make remarks get the full context of the story before making assumptions.
@@samalmas4588 sorry bro
What an amazing father and an adorable baby! I am older than he is but I never see myself as a parent! I commend him! Parenting is not easy!
NY is a rip off, lol, this man is making $110k a year and living in the hood with his inlaws😣😣. I could never!
He is 24 he is saving for a house. If you can save money for a few years why not?
hunchoz hunchoz no one making 70k in NYC can afford a 1700 apartment. 1 that’s barely a 1 bedroom apartment and 2 there’s a lot of extra stuff u need to pay for when u have that apartment which leaves u with nothing. Why be so naive about this city, especially saying why move there when I can’t afford it. What about the people who were born here?
hunchoz hunchoz ....LOOK, you forgot to mention that NYC Sanitation workers have “dual” roles...they typically pick-up curb-side city/residential trash AND handle overall snow removal for the city (during winter months). That’s one of many reasons of high ($90K+) per year salary though.
@hunchoz hunchoz it's such a great page to live thats why there's a mass exodus hahahaha.
I swear TH-cam brings out some of the stupidest people on the planet.
Congrats on being one of them.
@hunchoz hunchoz go back and read your comment.
He said it was a rip off. You defeneded the city.
Clearly by definition, you like it. That's cool.
People obviously disagree with you otherwise there wouldn't be said exodus.
And I make almost 100k and I don't work in a big city.
Your argument is INVALD sir.
You should put money into a regular savings account so you’re more liquid . Taking a loan against your 401K will not be a wise choice. Continue saving and cut off some of your expenses and you will have your down payment for a house. Blessings to you and your family!
Selina L bless me too, Ms!
He should get rid of that car too!
@sigmaloveandmine Right! No reason why they can't get a reliable used car instead of something brand new.
@@Essays4College exactly
Matter of fact he don't need the car if u living in Brooklyn no point
Hold up - He is making $110k a year, and his supervisor salary is $80k which means the other $30k supposedly comes from Amazon fulfillment. However, he has $2500/month in “business expenses”, which is presumably the cost of the goods he is selling on Amazon. That’s $30k/year which means he is making zero profits from this “side hustle.” He should probably find some other part time job that actually pays him more than it’s costing him.
The $30k is his estimated profit by the end of this year, already having factored in expenses. He's on track to gross $80k in Amazon transactions. Last year he made $20k off of $70k.
@@veelastname interesting
I’m confused by this as well - the business expenses were also included in his monthly spending, but that only totals 66k a year. Other than taxes, where’s the rest of the money?
I'm glad to finally see someone with kids and he lives in NYC that's a plus. However, I don't believe they only pay $100 per month rent. And no one else is concerned that half his monthly expenses are for his side business? $2k a month? That same amount of money and he could buy his family the house they want. Is that business really making him money? It seems to me he is spending as much as he is making from that side business 🤔
it says he made $30k from his side business but spends $24k. So he makes $6k profit. Not worth it.
@@beet4416 I was thinking the same thing.
The full rent is $1600 for a 4 bdrm. He pays $400 sharing an apt with his in laws.
Appreciate seeing a Latino brother hustling. 🙏🏽
It’s so amazing to see Hispanics making it like this guy. We rarely get to see this in the media growing up here. Blessings!!
I think including his net earnings would be important here... given he’s getting taxed hard with self employment, NY, and COGS from his side business so that $30k is really more like $5k net lol
Luke i exactly, hes not making no 100k a year... and that “job” he has doesnt seem safe investing your time in especially when your wife doesnt work at ll and brings in no income
They don’t include net earnings for any video. They even stated his annual salary before net so..
Issa Rae's Body Double well most of these vids don’t include side businesses that probably operate with super low margins like amazon FBA. 30k gross sales seems weird to consider as his personal income when his take home would be a fraction of that
it's tough in new york even for Jesus
don't touch that 401k
"We started to hold hands, best feeling ever!" :]
This is amazing.
Hard work always pays off.
After 12 years of working (age 12)
5 years in university
Paying 80,000 in tuition, walking out debt free
Working day and night in landscaping and as a cook, while also being a full time student.
I graduated and became an accountant.
Working in Atlanta.
Dreams do come true
You just have to bet on yourself
Que honda cuhhh?? ATL gang🤘 puro tackuache cuuuhh
What's your annual salary?
Becoming an accountant was your dream?
LOL
@@JohnLee-fr6pi if income is high. Then it was a good decision
@@alexbob5209 You can have a high income in ANY industry. You can be a janitor with a successful janitor business and make high income. You just have to be the best at what you do.
Living crammed in a tiny apartment with in-laws and "hustling" aka struggling to have a decent live as a family, welcome to reality for many people, it sucks
Nah he ain't struggling lol
This. I would hardly call this making it. If he didn’t have a kid he’d be living in better conditions.
He's 24 and making more than diuble the national average
God bless this dude for being a family man
Im 25, live in Texas and bought a house off 30k a year. Imagine if I made 110k a year, the possibilities would be endless 😂
That's what I said! I'm next door in Louisiana and with 30k salary I'd be a king.
I live in CA, cost of living is high over here. But I wouldn't want to live anywhere else. I'm 45 minutes from ski resorts, 2 hours from Las Vegas, 2 hours from the beaches and a 2hr flight to Cabo. I wouldn't trade that for TX.
@@roxanardh How is flying for 2 hours instead of 3 to cabo relevant lol also dallas is closer to europe
Woooooo a parent!!!
Hey we still haven't forgot your story bro lol
Max Million what u mean my guy? Lol
@@VerStarr I'm speaking of the recent episode of Millenial Money where they featured you and your story. It was good and we still remember it.
Max Million ppreciate it man! This guy right here though is killin it
dude that car payment is ridiculously high! We make more than double your income with one child and drive a crappy toyota we bought 10 years ago.
But he seems like a great father making it work. I enjoyed this more realistic millenial family.
1000 a month for car payments, insurance and gas ... he's extremely irresponsible. In Brooklyn he can take the train and have a down payment in a year.
Yeah but he’s not going to put his kids in that ridiculous situation, with weather the North east gets. 440 for a car payment is not high. Perhaps in middle America, but not with the tax implications in NY, and for a crossover.
@@MaximusTheChosenOne 450 plus 300 for gas and insurance I take the train from my home in the suburbs and because of that my 56000 a year covers a mortgage in an upper class area of queens
I was thinking the same thing. Wait until you move to CT to get that car.
His budgeting is great! What a fantastic father!
I respect this man 100% he's trying hard so he will be blessed with alot in life.
For being such a young man, he’s really ahead of the game ♥️
110 k in New York is like making 50k in the Midwest
J Mich he’s 24 and successful stop raining on his parade boomer
@xSteamPunk facts
I don't know why I hate people that say "I wasn't born with a silver spoon in my mouth so... blah blah blah".
Neither was I but I don't go around making it my conversation starter...
I want further explanation on the amazon side hustle. Watched it a couple times and still don’t get the gist of what it is exactly
Look up Amazon FBA
Sounds like he's doing retail arbitrage where he resells hot items or products he thinks that will do well. If you find a decent niche on Amazon, you can make good money but the margins are low, fees are high and there are lots of sellers. He is doing very well though.
Source - I own an ecommerce business
Basically you have product and then you ship it to amazon. Amazon lists it on their site and then you paid when when amazon sells it. Amazon does all the shipping to the customer part. You just need to find the inventory to ship to amazon. Problem is that it is very cut throat competition and if you aren't good at finding deals then you'll end up losing money.
Nice job overall but I’d recommend buying amazon fba supplies on eBay instead of staples. It’s a lot cheaper then
Jesus you should look into purchasing a home out here in Houston Texas. Out here you could purchase a two story home with a back yard in a nice neighborhood for $200k-$260k the city is great and the people are diverse. Lots of Latinos and ethnicities.
b he would have a large home to raise his kids. Pay zero state taxes. And he’s an adult with kids I’m sure he’ll be fine moving away from Mom and Dad just a couple states away. Probably make more in the Houston area since the city is the oil and gas capital of the world.
Tell Marge Simpson to get a job first she’s slowing up the process.
Actually I never thought you were going make it no where’ In life Im so proud of you big brother I hope you continue on what you love doing the most you’ve become a role model in my life keep it up bro
Awww thanks bro I love you!!
Nice!
@@jesuscampos1186 good stuff
can someone explain how the heck that amazon thing works? he buys from staples, but price matches amazon... so how. does he make a profit selling on amazon?
His expenses: $5639 per month x 12 = $67,668 per year.
His earnings minus expenses: $110,000 - $67668 = $42,332.
Gross profit: $42,332 per year.
( Not including Interest on dept, income tax, and inflation ).
That's an amazing amount to save
@@jdlc903 $42,332 that is;
$3527.66 per month.
$881.91 per week.
$176.38 per day.
If your making that much money and living in a tiny apt why would you have to take out a loan 🤷♂️ just save.There a penalties for taking out of your 401k
Good for you man! Love it! Good to see other millennial parents too sharing their financials.
I respect this brother's work ethic; he has a solid plan and it's good to see him making sure it all gets done. I will agree that he probably shouldn't touch his 401(k), but if he does, I feel like he'll end up fine because of his mentality and work ethic.
🙏🏼🙏🏼🙏🏼
I would be out of NY so fast. Making 110k and living with his in-laws. I would be in Houston or Dallas TX so fast and find a job making 40-50k a year plus the 30k from his business. 70-80k a year goes a long way in Texas.
Parenting at he’s age not easy but he’s doing it, well done bru.
Elias Mendoza
Parenting at ANY age is not easy
Byte Size Budget exactly
Not a single soul:
Graham Stephan: Looks like CNBC dropped another episode of
MILLENIAL.
MONEY.
I can't wait for Graham's reaction 🤑
@@nihilisticbarbie not the reaction we want. millennial money is only going to feature smart millennials like this dude now
110k doesn't seem like much in New York , he looks like he 's living a minimum wage life. I'm afraid to see what a minimum wage life is in New York, probably the the homeless.
Bruh. Not even close he’s saving up like around 30-40 k every year to put down a payment for a house like he said . He only lives in that small apartment to save money like he said
Minimum wage life in nyc is the projects but you dress nice and drive a benz or bmw
He makes alot of money but makes alot off bad financial decisions.
“Leaving a legacy for my family.” This is EXACTLY what I dream of doing. What I’m going to do. Your hard work will pay off. More power to you and your family.💯
Oh no please do not take a loan out of your 401k the fees might hurt you. But overall you're doing great at your age.
Sheyla Gomes Castillo there aren’t fees associated with that. You pay interest but that interest is paid to yourself (not to the 401(k) servicing company)
You only get hit with the 10% penalty if you're under 59 1/2 and take a withdrawal. If you take a 401k loan you're loaning money to yuh yourself and paying back with interest.
You have no idea what you are talking about...
I think you can take a loan out of your 401k without penalty, but you have to pay the whole thing back to yourself within the 401k.
@@theshinythings123 I'm not exactly sure of how his fees and penalties will be because it can also vary by company. He should probably discuss his options with HR. However, what I do know is that by taking it out early he is missing out on the compound interest that is supposed to make his money grow for retirement. Also I have heard that in some companies if he leaves his company/gets fired he has to pay back the part of the loan they invested asap. Nevertheless everyone's situation is different and he needs to make his own decisions but 401k/IRAs/Roth are meant to be left alone until retirement to get the best benefit out of them. 🙂
Lol? So he spend $2500 a month from buiness expensive and he only make 30K last year from business?
The numbers don’t add up…
24 YR OLD YOUNG LATINO IN BROOKLYN, RESPECT!💪💪💪
Can you guys do a broke person from the Midwest... no Chicago lol they don’t count
misstonietemple get graham on the phone ☎️
misstonietemple lmao Chicago don’t count 🤣
I’m from KCMO the middle of the map it’s a struggle this way frfr 🤦🏽♂️
MontanaDamierPrince I’m from Stl but I live in kc lol I know
these days it doesn't matter where you live. I am in the midwest too. Small town, population 60k but I freelance worldwide and bring in $180k working from home.
after taxes for that 110k comes out to him making around 71k with his $5600 a month in expenses ,no wonder he’s living with family his priorities is backwards ,he has more luxuries than necessities.
2500 of which he counts as business expenses
debbie totich that 2500 is a luxury, he should get his living situation in order first then focus on business especially when your bringing in 71k after taxes .
I feel like a failure every time I watch one of these videos but I can't stop I'm addicted!
my man showing the Hispanic drive to succeed.
Luigi human... drive to succeed.
Anyone know how to get into the amazon business re-selling items?
Amazon FBA
Crazy the bakery around the corner from my apartment
That apartment in NY $1600 dang it doesn't even look that big
$1600 is super cheap for an apartment in NY. You can barely get a room for that amount. In a nice area in Brooklyn (i.e. Brooklyn Heights, Williamsburg, etc.) , you will easily pay $3400+ for a one bedroom apartment.
They have probably been there for 20 years or more
I’m really curious where he found the 4bedroom apt for only $1600 in Brooklyn!
Jenny Li the in-laws must have been living there for decades or have a good relationship with the landlord who is not raising it ridiculously. Appears to be Sunset Park. 1600 indeed is a phenomenal price for 4 bedrooms. You can barely get 1 bedroom/2 bedrooms for that price anymore
Malika I couldn’t agree more that’s the price for a 1br!
@@itsgoingtobeok-justbreathe4808 yea its surprising they showed that on TV. B/C DOB will be at that address next week.
Latinos are by far the hardest working people 💯
Must be in your world. I’m surrounded by smart & hard working people of different ethnicities.
Why does latin American have so muvh poverty
@Gaelle Kercy you guys are such ethno chauvinists,talking about your racial and ethnic identity so much.its strange
Alex Rivers very hard working, but go see more of the world.
Screw college I would have jump straight to into the Baker business
I make 98k a year i live in queens. It’s not enough
Mary Mary all your money goes to rent/tolls etc. I pay around $240 a month in tolls alone . New York is very expensive
Move out. Come to Charlotte NC!
21 working a dead end job and going to school. This guy is inspiring. If he can do it maybe I can too
I would like to see an update video on when this guy moves out and gets his own home!! keep it up brotha!
Will do my man!
@@jesuscampos1186 The next Millennial Mortgage! it'll happen man! godspeed
Jesus Campos mind sharing your insta? I cant believe how much we have in common. We’re about the same age, close to same salary, both our moms make cakes for a living/business, Mexican, and we didn’t have a dad around lol...thanks for inspiring I will look into the amazon side hustle. I’ve seen some TH-cam videos on it but never thought actual people make money off it
@Its_chuy__
And oh mah god..... I didn't have my dad around either 🤣
Proud of this man!!! In Texas he’d be a god. 110k is phenomenal.
good luck to him and his family. this was inspiring.
For those curios of why his amazon selling business was not disclosed transparently because when a business is working you don’t give out its secrets.
The gurus selling you courses making millions but are gladly selling you courses on how they make “millions” are full of shit. No great entrepreneur shares their secrets.
He's doing very well! All power to him.
Making 110k and struggling it's not adding up. No daycare, rent is 400 car note 400. Only put 300 towards 401k. I can't see how his monthly expenses is 5600
He did say his wife is a stay at home wife so they don’t have daycare expenses and he spends money on that amazon business too.
@@itsgoingtobeok-justbreathe4808 if anyone is going to take that approach for business at least save more money for yourself first before allocating that much per month for business. Maybe I missed it if he has 6 months emergency fund. At 110k its no way he shouldn't have one. Not to mention he carries the kids for his income tax so he gets a nice return.
Brascoe Johnson and he’s talking about borrowing from his 401k I don’t get it either 110k a year goes a long way in the Midwest
Brascoe Johnson he don’t make 110. That’s why. I am living off of 62k in queens with a son at 24. He’s bullshitting
NYC taxes
he’d be living fine if he was down south or Maryland, ( not baltimore) the cost of living in Maryland isn’t that bad.
He should just do what everyone does and move down here to Texas
Finally a proper dude and not one of these stay at home millennial astronaut coworking out of green and eco friendly we-work.
I don't understand the business model for selling on Amazon. So he buys from wholesale stores stuff that he sees are selling online for a higher price?
Correct
pretty much or things that are on clearance. Find it cheap and look it up on Amazon see if there is money to be made, and send it in and they sell it.
You would.be surprised how many people don't shop for the cheapest price.
@@faywhite7886 I mean sometimes you waste more money on gas driving around for the cheapest price. You could be saving money by just buying the one that saves you the travel costs.
NYC, one of the few places in America you can make 110K a year and still not reach middle class
Props to this guy. He has a good head on his shoulders. Super motivated and entrepreneurial
Normalizing people of color building wealth has been so empowering for me. Many people of color had parents that struggled to survive. I’m a black woman with college educated parents, and we lived paycheck to paycheck. Videos like this give me hope in my future endeavors to financial freedom and literacy. TH-cam has played a pivotal role in my financial education and videos like this make financial independence seem attainable.
Wow. Seriously impressive!! I have so much respect for him and his family. I can't help but look at myself ...same age, BS Degree, on track to med school , +10K in debt, BARELY secured a full time job, savings non existent. no complaints here but hey for a young dad he's definitely surpassed a lot of youth who've tried to earn financial success the "traditional" way
Thank you Alexis. Means so much to me! Exactly my perspective.
@@jesuscampos1186 Of course :) Best of wishes!! and good luck with the house
When are the okay boomer series starting?
Financial Shinanigans boomers don’t want to be interviewed after stealing all that money from future generations and wrecking the planet
Sure thing Millie
I actually DMed a producer from CNBC and upper management prob won’t be down LOL
@@MihadAlzayat oop
There's an entire country outside of NYC and LA....show some diversity in location
Feel like there's a new NYC budget breakdown every month haha.
There's multiple videos from the DC area and a Detroit & Illinois video. What are you talking about?
DrMovies I know right !!! There’s this Somali guy in Columbus who went to same high school. He is 26 years old and he makes over half million dollars a year. The best part is that he used to live a refugee camp in Kenya and he is first generation Somali-American immigrant
This is the only story on the show that resonated with me so far. Loved this episode in particular.
I'm sorry if this comes off the wrong way but it's really disappointing to see so many hard working 1st gen Latinos kneecap themselves by failing to use family planning/birth control.
To raise a family in NY and live comfortably you’ve gotta be pulling in like 250k. And when I say comfortable we’re talking a reasonable sized home/apartment, a vacation a year w/the family, ability to eat out every now and then, saving for retirement, saving for other life goals and be credit card debt free. This is if you’re the sole breadwinner of the household. Hopefully your partner is in a position to contribute
This guy is doing what he has to do. He should be living a much higher quality of life imo for making 110k/year. Think about the majority of people in NY who don’t make that. Much respect to Jesus
If he was single and he didn’t have kids....he wouldn’t have to worry about a lot of spending And living in a small place...
Kids at 18..wow! you people have surely lost it..
Spanish
His management job which pays great is only to support his family. He is more emotionally invested in his side hustle. I can see him doing well in real estate.
Dude leave NYC and move to the middle of the country. Your money will got alot further and you can invest easier. Your a hustler. You'll make your families life alot easier.
I cant even make 70k with my civil engineer degree
i feel your pain
How is he price matching FROM Amazon to sell it back and turning a profit?? While paying taxes, shipping, AND space to store it all? He's gotta be barely making a profit off that because he spends just over 30k a year on business expenses. That means if this was filmed this month hes LOSING money off it. Plus, how much time does he take going to Staples for this while working overtime at his actual job? Appreciate a side hustle but this ain't it
Who wants some Coronas 🍺? 😼
0:17
buddy not doing amazon the right way, he working to hard
How so? I'm interested.
Not only that, he isn't really making a profit. It says he made 30k but he's also wearing a coat showing it is colder when the video is filmed. Unless this is Jan-march of 2019, he's spent 20-27k on products and only made 30...for 10+ months of work. Not a good business model at all
He will be a millionaire by the time he’s 30
EricForLife lol that’s not promised
only if he moves out of nyc
Al Gibani if he moves out he’ll be making much less
He'd have even more money if he was single and no kids
luisd8818 bro stop saying that. It’s really not all that simple.
@@RosteeveBellier lol it was a half true joke