Living Together On $200K A Year In San Francisco | Millennial Money
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- เผยแพร่เมื่อ 10 ก.ค. 2019
- Rachel Shinto and Scott Johnston earn a combined income of $200,000 in San Francisco. Here's how they split finances as a couple, save for the future and live comfortably in an expensive city.
Read more about Rachel and Scott’s budget breakdown: cnb.cx/2LRPuuf
This is the latest installment of Millennial Money, which profiles people across the U.S. and details how they earn and spend their money.
San Francisco residents Rachel Shinto and Scott Johnston, both 28, may live in the most expensive city in the U.S., but they're still able to save money, invest for the future and enjoy their lives.
"I literally feel energy when I come into the city," Shinto says. "I think it's a magical place where you can make anything happen if you want to."
The couple, who got engaged earlier this year, share a one-bedroom apartment in Diamond Heights, a San Francisco neighborhood, and earn a combined $200,000 per year. They agree that they're able to live well. After living on $300 per month while in the Peace Corps, Shinto says dealing with San Francisco prices is easy: "I'm living my dream life right now."
Johnston acknowledges that they're lucky to earn as much as they do. "We've never had to worry, but we do make a fairly comfortable salary," he says.
Because Johnston earns more, he pays more in rent and covers the utilities, but the couple typically split expenses evenly. "I don't think we've ever fought about money yet," Johnston says. "There's nothing to hide - we're open about it."
The couple plan to get married in 2020 and pay for the wedding using their savings. They're budgeting around $40,000 for the event. Long-term, Johnston hopes to be financially independent by 40 and start a real estate company with friends. Shinto plans to continue working until she's 62 so that she'll receive her full retirement benefits. But she doesn't mind: "I love my job and I believe in public service."
Despite their varying retirement aspirations, they're still partners in their finances. "Now that we're engaged, my money is her money, the way I see it," Johnston says. "We're going towards the same goal."
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Living Together On $200K A Year In San Francisco | Millennial Money
What’s your budget breakdown? Share your story with us for a chance to be featured in a future installment. cnb.cx/32TYZ2K
I make 500 dollars a month and I spend 450 on crack and 50 dollars on my rent. Thank u taxpayers!!!!!!!!!!!!
Couple, 29/28 y/o, 100k (30% savings rate), 1200/month in rent, Amsterdam, Netherlands
budget breakdown? you just posted a video about why you DON'T need to budget. which is it, cnbc?!!
GOD BLESS .. be grateful
... there is a lot of people with not much to eat and no much to clothes their body .... be happy ....
amy lieu Good job!! One day u will be wealthy! Don’t quit on your dreams 😂🤣🤣
CNBC needs to get a millennial who spends 10% of their budget on iced coffee. The goal of this show should be to give Graham a heart attack.
😂
Lmao
Just making and drinking 20 cents iced coffee that makes up 10% of their income will give them a heart attack
I spend my 10 percent on Avocado toast
Thumbs up if you love avocados!
Half of the comments on this video are about Graham and I'm here for it 😂
Arvabelle same 😂
True
Lol. This is crazy.
I just came from the interview where he speaks to the couple and they mentioned that half the comments here are about him. Just here for that. CNBC should pay him for the views
@@gwimmer98 Who's Graham?
"Being homeless in Panama prepared me for living in San Francisco" LOL!
lmao. almost spilled my coffee
Yea, I caught that too lol
I grew up really poor in Panama, maybe that's why I did so well in San Francisco too. Have since moved to Charlotte, way more affordable place
@@Weredawg yeah Cali is out of control
The jealous, trolling videos on SF, hoping for a way to get back in.
*They are finally fighting back against Graham’s disapproval*
won't be pleased by them spending 40k on their wedding from saving though
@@pragyamtiwari lol!!!!!!!!!!!!
Ayyy, another Grahamer! I wanted to see the source material for myself
Who?
Who is ghram
Ugh cnbc we want more drama. Do it for the Graham!!
This comment is gold. Thumbs up is not enough.
Graham is racist honey lol
@@amylieu6084 how is he racist?
@@pragyamtiwari its because his followers spam cnbc. That's nothing to be proud of lol.
@@amylieu6084 how is that racist???
This is probably the most financially solvent people featured on CNBC Millenial Money
This couple is going to be worry-free about money. Good projections for the both of them!
but they ruined it by not having a savings account. I.E., no emergency funds. Right back to square zero. NO min $1K emergency fund.
@@Ndasuunye hmm. maybe some of the safer investment portfolios could be liquid, like easy to withdraw
Until I’m on the show...
The Uber Successful I think that if they’re planning to pull $40k out of savings for their wedding they must have some bonds that they could easily sell or some stock positions that won’t be hard to get out of in a pinch
He saved 100k in three years in San Francisco as an accountant. That is a huge accomplishment.
I like how the girl said up front that she loves her job, you go gal.
Graham is actually I think gonna like this. THey are doing amazing with saving in the bay area.
With $680 in monthly debt repayment... I don't think Graham is gonna like THAT!
Won't like the eating out budget. And might not love that they do not have a high interest savings account.
Can’t win em all
It’s pronounced... Grayham 😤
They don't have a savings account
"My money is her money..."
My man is living on borrowed time
Hahaha i love the truth (-: honeymoon phaseee
What is borrowed time
why thats how couples should live. just make sure you are both on the same page from the onset. if you are on opposite spectrums, its never gonna work.
Dude better never lose that job or make less than her; cause her money definitely ain't your money
@@koalabear206 dude you need to realize intelligent women want an independent hard working individual. no one marries for simply love anymore.
She said living in San Francisco she feels energy. Yeah it's the energy of the city sucking the finances out of everyone's income 😆
This is such a gentrifier thing to say lol... the teal energy of san francisco is the culture from the people that are slowly getting displaced from there. That energy cannot be replicated by them and its being replaced
And the 5g!
And the homeless on opiod giving you the scare of your life. That's the adrenaline rush she's feeling. lol
The jealous, trolling videos on SF and hoping they can get in here. Else, why would they watch?
$200,000 in SF is barely getting by.
CNBC Make It: What it’s like to live in San Francisco while earning $200,000.
Me: It must be awesome.
Whole Food Plant-Based Man $200,000 in San Francisco isn’t a lot for two people
@@suaveclt But they're able to save $5,500 a month, and repay their past debt. That's really impressive!
See their expense breakdown th-cam.com/video/lgH_mUTShtM/w-d-xo.html
200k aint much. Do you even qualify for a home loan?
@@suaveclt $200,000 in San Francisco isn't a lot for two "dumb" people or people who want to live a more extravagant lifestyle. I lived in SF my whole life, went to public school and had many friends in families that make
After my last visit to San Fran I can confirm there is no way I could live a good quality of life on 200k, you're poor on 200k in SF.
Graham is gonna smash the like button so hard for this one.
"My money is her money". The last great words
prettyricky2001 but they later say that they won’t have a joint account Hahaa.
She's still gonna get at least half of his retirement account. I thought accountants were known for making sound financial decisions.
Yeah i seen that too! Ole boy is a SIMP
FakeAndTrolled she’s the one with the government pension. He said he’s gonna be living off of her retirement.
@@Stephen981cs Nah she's gonna dump him before that happens.
finally a couple and not just a single person on a single income!
look at her face when he said he going to live off her benefits 2:31 😂😂😂😂😂
Searched through the comments to find calling this out! Hilarious!
She was like "um, not me. No pls. Then faked a Uhm 'yeah'
I noticed that too. That's very telling.
Jay Lawson Starter marriage
John Doe yup and she doesn’t mind him paying more of the rent cuz he makes more.
I just realised these videos will be amazing to look back in 50 or some years and should be shown in history classes or econ classes.
How did those two ever meet because they’re like polar opposite‘s
She probably found out what he did, San Francisco is really expensive, and so she clinged on for financial security otherwise she wouldn't afford to live in The City.
@@Striker50_ doing that as a man is impossible unless you want a very unattractive woman lmao.
@@Striker50_ more like they met online, he saw she was pretty and instantly fell in love.
@@Myview246 Money talks in San Francisco and there is a huge shortage of straight men with college degrees in The City compared to women. Read Dateonomics. Women only date up to their education, or higher
@@Myview246 she’s not that pretty
Oh man.. Can't get outraged Graham with this video
Getting my 20-cent iced coffee and avocado toast ready for Graham's reaction.
Graham and his cronies are spamming this channel. You lemmings should stay out.
amy lieu chill my brother
@@elexust730 no.
☹️
@@elexust730 dont make that face at me!
Great video! They are clearly on top of things ✨
Interesting video! Love this series and great visual effects, it helps to process information.
I’m born and raised in SF and I always find it funny how the people that make the most off of this city are the ones that are worried about being “poor” or take part in “the struggle”. Just ridiculous 🤦🏻♀️
Ohhh..!! 😼 My Husband and I can't wait to watch Graham react to this video. MILLENNIAL MONEY!!!
Graham needs people that don’t understand money to make good reaction videos. GIVE US MORE PEOPLE THAT AREN’T GOOD WITH MONEY CNBC!!!!
Let's see Graham react to this! He's going looooove hearing a financial guy is in on this.
1:10 Now THAT is how you save money. Smart couple. They will be very wealthy.
Ethan Lee
Ethan Lee
Wow Ethan! Such brilliant insight! Time to start your own TH-cam channel to share your wisdom. Here are some other video topics for you:
-Just because you speed, that doesn’t mean you will necessarily get a ticket.
-Just because you lose weight, that doesn’t mean you won’t gain it back.
-Just because you go college, that doesn’t mean you will get a high paying job.
These are just a few ideas for you. I’ll try to think of some more. I’m going to subscribe right now.
Top Comment I love how you shut him down💀💀 Mary Me!🙄😳✋
ItzVince:P
😂
Lol the video was good until the end - "less than 40k on the wedding"
Let's all take a guess on which one of them wanted to spend so much "on experiences".
Top Comment you're hilarious 😭😭😭😭😭
This was kinda awkward to watch lol 😅
Idk @ Graham Stephan this one is pretty good
Theyre the perfect couple, doing investments and savings, they'll be okay
they're not perfect. they have car debt and don't seem to have anything in common and have different long term goals.
Lol the video was good until the end - "less than 40k on the wedding"
Let's all take a guess on which one of them wanted to spend so much "on experiences".
@@JohnLee-fr6pi well I wouldnt say car debt is bad, possibly they purchased a great car on low rate due to having something reliable.
@@sznosrs5045 wut
to repeat myself, they possibly got a car at the cost of debt for possibly a great ARP rate at 3% or so & also wanted to buy new rather than used to have something reliable.
$40k on a wedding? No thanks. My husband and I just cash flowed ours and spent about $25k, if I can go back, I would cut the list back by 10 people :)
Lol, I would just go to city hall, pay the $100 fee and go on vacation.
25K you still spent more than most. I spent 7k!
25k is a lot for a wedding
Love how all the comments are about Graham reacting to this
2:41 her expression was that of concern lol. Don't think she likes the idea of spending her "back end" money :D
josanrishi back end, as in the benefits
Graham will be pleased
yup, Graham will like you, Scott!
Finally!! Someone who good with money 😂
But I wonder how Graham react
Lol this is my good friend. Good stuff Scott and Rachel!
Graham will love this i don't think he will complain about anything here
"It's been great being with an accountant who knows how to budget for everything and has a hold on what we're spending..."
Me sitting here as an accounting student: They teach that? Never heard of it.
Maybe I'll learn it in grad school or while studying for the CPA exam😂😂😂😂
He definitely stated he makes more money then her a couple times. He made sure we understand that.
I wonder how much more.... it's interesting that they still split the rent pretty evenly. She pays $1200, and he pays $1440.
I feel so calm after watching this video. They're good with money and what they know suffices. They are able to handle the truth and they won't be threatened by divorce because of financial reasons. I hope their marriage goes well until its end.
I wish the best for them. But I fear that when he retires at 40 and she is working full time until 62, it will put a tremendous strain on the marriage
He's not retiring at 40.
Graham and this couple might become friends!
They should do one on Graham.
CNBC got tired of Graham roasting these millennials lol
So husband makes about $150k and wife makes the other $50k.
Wang Hung pretty much
But she is in the government sector. Like he said, he will be benefitting from her pension later in life.
Ji-Eun Kim no you got it twisted, she will be benefiting from half his income in the future and he’ll be forced to work agian with his real estate dreams down the pooper
@@jjk4891 He said it as a joke. He'll be WAY more set than she is by far. My man already has a vision to retire by 40 and get in real estate. She just goes with the flow and depends on the government.
Hes frugal she likes to spend. He wants to retire early, she wants to work till 60. Oh boy
yeah i give them about 10 years, then he will lose half of everything in a divorce despite being frugal the entire time. only then will he hit rock bottom and be able to embrace the doomer lifestyle
@@VS666 Exactly. This relationship will not last more than 10 years. And his savings will be gone.
Yup, she started off with how much she loves living in SF. Going to have issues if/when they have kids. Guarantee he’s going to want to move out to the suburbs, she’s going to want to raise them in the city. Cut to him having the kids on the weekends in Orinda while she’s dating her yoga instructor
Yea...plus engaged is not being married...jus saying .some people are engaged for 10 years...
Super couple, wish you all the luck with your futures. Very competent and balanced.
I don't even watch these anymore because Graham's reactions are better
Excited to see Graham’s video on this!
I love these videos!!
I think Graham will be pleased. Just look at all those credit cards!
Graham bout to love these people's financial decisions
This couple has it figured out. Great job
MONEY is the topic everywhere these days
Graham will be so proud with the credit card stack this guys has!
Plot twist: guy watches Graham's credit card videos
delia devin probably! I wouldn’t be surprised
A smarter move would be to spend less than $10,000 on your wedding
Hi Lauren!. It's Kyle. Not sure if you remember me but I went to undergrad with you at Santa Cruz at College 8. Glad to know you're doing well and congratulations. My wife and I got married last year as well and live in SF as well. Stay safe.
Congrats guys! I wish I could still live in SF.
I like Scott. His plan for real estate is sound.
I think Graham will enjoy this.
This made me happy!
They’re definitely not on the same pego.... he needs to drop her now
YES FINALLY AN ACCOUNTANT!
3:03 Graham Stephan has entered the chat
Shea Nolan 😂
Lmfao
Do the real estate now!!!
You guys are young, make a lot of money, and saved over 100k!
What are you waiting for?
They're in Cali. They'd need a down payment of at least 250k.
Real estate, Like flipping houses?
.
for real..thats what i said.
I love that so many of these comments are about Graham... I’m here from his reaction video 👍🏼CNBC, you must check out his channels and get him on this show.
200k a year seems like a lot, but that is still pretty tough to live in SF
Adorable dog! Happy for you!
Graham Stephen, hello.👋
How quickly will graham make a video?
I would love an update on them after COVID!!!
Engagement has been called off 🤣
Great planning!
I like her look of concern when he said he was was going to live off her government money lol
@@vanessaattah2802 do you think they’re going to stay together till then lol, because her face said NO!
Yesss, finally they put an accountant on here #accountantsunite 🙋🏽♀️💪🏽💕
I like their lifestyle accept for saving 5k a month, but only paying 600 a month on student loan debt. As I always say, just pay the debt off first. But otherwise, smart gang!
If it is low interest, the cash can make more, on average, than the interest would cost!
"We will always be poor" Says the guy who makes over $100k jeez
Thats the Mindset :)
High cost of living in San Francisco
$100k is nothing in SF lol
That’s not much in SF
Lol the video was good until the end - "less than 40k on the wedding"
Let's all take a guess on which one of them wanted to spend so much "on experiences".
Congrats y’all made Graham happy 😊
I’m just waiting for Graham to make a video on this with my 20¢ iced coffee ready
Graham, you have 24 hours.
😂😂😂😂
Looking very nice....Continued success...San Francisco is a really nice city...
Can't wait for Graham' s review
Wow I'm kinda jealous. Great couple 👌🏾
I live in California and boy it’s expensive in the Bay Area! That’s why a lot of people commute
as soon as he took out the credit cards I thought of Graham
Any time I see anyone from the bay or Sf, I wanna give them a hug & a drink😩😭. I feel your pain.
CNBC people wondering how Graham Stephan hijack their show and comments.... including this one! lol, now guys, go to one of Graham's videos and SMASH that Like button!
Nah, just gently tap it
For real
Their wedding is gonna be amazing omg $40k
Yay, a fellow RPCV. 2014-16 Ethiopia 🇪🇹🥰
I just want to know HOW they only spent $650/month on food/drinks for two people in SF.... I'm only one person, and I have a hard time staying below $800/month on food (groceries plus restaurants) just to feed myself. Do they never go out to all the good restaurants here...?
She said they eat beans.
You spend $9 per meal? If you’re making food at home, you could spend $9 on nearly all your meals for the day...
Christina York 800 a month for one person? Do you cook ? My wife and I live in the bay as well and spend less than you.
If he works in tech, the company provides meals/stipends. It's a work perk... they could also only eat out once a week, and cook from home. Shopping for groceries at Asian markets are the cheapest in SF. You can get the same two big bags of groceries (veggies, fruits, meat, etc) for $20 at Manila Market versus Safeway or Lucky's that would cost $40-50. If you live in the bay area, Manila market is an Asian grocery store chain.
@@sanitary103 Yep, I cook most meals. I go out to eat about 6-8 times per month on average (1-2x a week, which could be going out to a restaurant or ordering take-out), rest of the meals are homemade. I shop for my groceries at Trader Joe's, Whole Foods, and Costco--none of the little expensive boutique shops. But I do buy organic/pastured/grass-fed products whenever possible which I know increases my costs a little bit. I rarely ever buy red meat (which is expensive), and my proteins are mostly organic chicken, turkey, some pork products (like bacon), and wild fish. And I rarely throw away food, so I don't think I overbuy. Now that we've been in quarantine, my average food spending during this shelter-in-place has been about $476 per month ($360 on groceries and $116 on restaurants), so it's lower than my $600-800 average, but that's because I'm not going out as much to restaurants and not spending $100 a month on alcohol for happy hours and such. I still can't figure out how these people keep their food under $325 per person per month in normal times. They must have to cut out all restaurants/happy hours/coffee shops and not buy organic...?
“I make more” on repeat lmao
Wow - they're saving more than half their income! Considering SF public schools are good (and considering future salary increases), Shinto and Johnston will easily be able to raise two children very well.
They are smart with their money - they deserve it
OHHHHH GRAHAM IS GONNA LOVE THIS!
Graham will love this
Saving 5500 a month is awesome
It's weird to hear they're worried about being "poor forever" when they make $200k...
That’s poor here in the Bay Area.
They live in SF thats why
She has a spending habbit and just loves sf
"200k is poor here in the bay area" ... San Fancisco median household income is 96k. Way off. Get off your high horse and acting like it's something it's not because you live there.
@n s good for you my dude. Noone cares where you live
Her engagement ring is gorgeous ❤️
yess i saw :o
@@ALXSSA Right very beautiful
I´m here because of Graham Stephan,he should totally be in your show one day.Graham,make it happen.
Let's see what Graham has to say about this one!