@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.
@@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.
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
@@charleswells5751I believe in capitalism and ambition. As for you? Highly recommend a book called “How to Win Friends and Influence People”. Wishing you well in your future endeavors.
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
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."
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
@@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.
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.
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
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.
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.
@@RashaadRahh 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
@@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 .....
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
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
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
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.
@@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.
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 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.
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.
@@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.
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.
@@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.
@@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.
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
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
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Donnafrank-k6e However, if you do not have access to a professional like Suzanne Gladys Xander, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@PreachPiranha The Bible describes God as a "good father". Its difficult for some to understand what that feels like when they are not raised with a good fatherly figure in the home.
England? where 99% of Christians don't go to church, and those that do go are mostly elderly and foreigners, a country where churches are sold and converted to private residence at alarming rate. Beyond sad!
Thinking its fake, you need to be 18 to have a paypal account, if you have received/sent more than 10000$ 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
@@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.
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
Could you explain more, as I am about to dive head first in this online field of money making. I guess explain exactly what you meant by your comment and I guess anything else
@@user-wi7br4nj6p PayPal isnt as safe as having it sitting in your bank (plus you build interest). Everything is hackable but I think your bank would be more lilely to refund you 300k rather than paypal.
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!
@@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.
@@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.
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.
So, the woman who has been providing for him all year, is not allowed to claim her son on her taxes? And everyone on here is making HER out to be the bad person? I say the child who is being deceptive has earned that honor!
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
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.
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
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’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
Well look at all the kids on youtube making millions stocks. Crypto and you tuber with internet young folks can make big money you are selling to the world not at a neighborhood store
My cousin quit college because he was making about $6,000 per month on the internet a five years ago. He is now only making about $2,500 per month and he feels it is too late to go back to college or get a "normal" job. So, I agree with Dave's advice. Also, don't tell your friends or extended family. My cousin gave away half of his money to his friends and relatives and lost a lot in the stock market.
Your cousin is crazy if he thinks it’s too late to finish college. My friend went back to college at 62. Now she’s a full time professor at GA State in Atlanta.
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.
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.
"It's not sustainable. It's not sustainable"... It's 2019 and TH-cam "Gurus" are claiming Shopify is dead. If this kid over the past year can figure out how to make $50,000 a month with currently "dead" platforms, business strategies and tactics, he will be just fine. He has already acquired business and marketing skills, and cultivated a no fear attitude. He will figure out how to adapt to the evolving business climate.
@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
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.
I make 50 k a day 😂 in my dreams this people either sale drugs or there just lieing if anything 500 a month I wouldn’t believe you if you say 1000 a month because nothing sales business are dead Iv never sold nothing on eBay and I tried it for a long time so I don’t make one penny and they make 50k really in there dreams wake up to reality people.
@@nancyvallejo9149 Considering how bad your english is, I imagine you have a hard time attracting customers and making sales. You can make millions from Ecommerce, just because you haven't made any money doesn't mean other people haven't
Sadly many parents don’t understand how these kids easily make this money. They always jump to conclusion and many think the worst whether it be selling drugs or something worse
@@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
ECommerce is going to be big. Dropshipping specifically will be found out very quick and will lose traction. If not soon, definitely before the second half of the next decade
Alex e-commerce is already big. Drop shipping is just a means to starting a successful e-commerce company. Once you’re established you can set up your own brand with your own warehouses and fulfillment services.
@Jacob Votava He isn't lying. Plenty of people do this. The truth is that shopify makes money every time he makes money. So of course if he is making 50k, they will let something slide.
@@heedmywarning2792 there are thousands, if u can make a comment on youtube u can make a million dollars, most people dont have the ambition to learn how but its 100x easier than it has ever been
They simply have easier access to knowledge via internet & social media, so it’s so much easier to make money faster these days. All generations have been ambitious, just didn’t have the tools and resources we have now.
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."
Naw.... I understand where you are coming from because the person is making solid money. However, I wouldn't enjoy that job role and would rather pursue an actual career in like finance and make 10k per month. To each their own. 😁
Jonas Johnson I guess if you don’t have an “actual career” and make 80k a year you won’t be seen as respectable and taken seriously, yeah tf right if a kid makes more than you that kid has more brains than you period.
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.
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.
@@a1r3x And get reported by the bank to tax authorities or whatever financial regulator there is in the US for a transaction over 10,000 dollars, sure. Assuming this even is true, which by the looks of it, isn't.
@Jamal Dieter Like most entrepreneurs? What is your point? It would be stupid to not exploit the latest trend as long as it is profitable. You'd be silly to not want to do something "because everyone else is doing it." You'll only sound jealous and out yourself as an egoist.
@@jacobtom9736 He's in debt to his mother? Or she holds a giant financial ax over his head?? Because she can take it all away. From him because he's only a minor. I think he needs to get a manipulated as soon as possible as fast as possible . He definitely needs a lawyer or two!! legal and financial
you're telling me you could live the rest of your life on 3 million dollars oh and that's before tax since this kid is not 18 so what he's doing is kind of illegal by not paying taxes
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.”
😂
😂😂
😂😂😂
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 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! 😂😂
💀💀
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.
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
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!
"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
I would love for Dave to have this kid back on the show for an update. This is fascinating.
Do you also believe in Santa Claus?
@@charleswells5751I believe in capitalism and ambition. As for you? Highly recommend a book called “How to Win Friends and Influence People”. Wishing you well in your future endeavors.
@@charleswells575111/10 ragebait
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'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
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.
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.
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
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.
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
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.
I am not born yet, but I make about $100k per......day!
😆😆😆
That's on my bucket list
He’s not lying
@@RashaadRahh 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...
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
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
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
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
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
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
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.
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.
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.
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!!
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.
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
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
@Stevie Roderick are you dumb. Look at the tax code. He definitely has to pay taxes
He doesn’t
@Ex Life PayPal reports income above 25000 or 250 transactions. So yes they do.
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.
That’s an amazing achievement. His mother should support his decision to be an entrepreneur. Incredible!
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 🤣
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
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???!
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
"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
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
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.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Donnafrank-k6e However, if you do not have access to a professional like Suzanne Gladys Xander, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@lennoxmutterick6434 Oh please I’d love that. Thanks!.
@@Donnafrank-k6e Suzanne Gladys Xander is her name .
Lookup with her name on the webpage.
And here i am sitting Jobless with my Engineering Degree .
Your fault.
You being jobless is not the problem. The problem is you sitting while being jobless.
Starcade 85 talk radio mate what are you talking about
I got job offers of 100$ per month, only Sundays off. Should i join ? Or stay home?
Dave Ramsey fans are the best.
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.
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
@ excellent post
Jeez. I'm so glad I didn't join the military.
CamdenBloke no balls
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 think he is a troll lmao
"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
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.
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.
Alright, he’s 18 now. He needs to call Dave back and spill the beans
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
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
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!
"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
Dont leave your money in your paypal
In arbitrage you lose it
Could you explain more, as I am about to dive head first in this online field of money making. I guess explain exactly what you meant by your comment and I guess anything else
@@user-wi7br4nj6p PayPal isnt as safe as having it sitting in your bank (plus you build interest). Everything is hackable but I think your bank would be more lilely to refund you 300k rather than paypal.
Nathan Schulz Sorry guys but I don't see it. PayPal is huge, it's larger than many banks in market cap. What you're saying is just not true.
Eric Cartman its 100% true. Bunch of scams involving paypal. The interest is also true. With your money in a bank you are earning compound interest.
@@ericcartman5166 It is true, I work with Paypal and any given time they can block your account for "suspicious activity"
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.
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.
So, the woman who has been providing for him all year, is not allowed to claim her son on her taxes? And everyone on here is making HER out to be the bad person? I say the child who is being deceptive has earned that honor!
*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
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.
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.
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 came here to learn about how he made this money, not about telling his mother about it.
Exactly
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
@@jamisonsmith9761actually no he’s single lives at home and is under 18 in this video now is different then no
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
My mom rather make me go to school and be in debt making 80k a year than make 200k a year being a entrepreneur with no debt...
Alex Diaz why
Most entrepreneurs go into deeper debt than college tuition and fail due to bankruptcy after 18 months.
@@JUanHernandezism thats called good debt only if you know in what to Invest.
Dave would say THERE IS NO GOOD DEBT.
@@JUanHernandezism Those are stupid people starting businesses. You dont need to go to debt to start a business.
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
Well look at all the kids on youtube making millions stocks. Crypto and you tuber with internet young folks can make big money you are selling to the world not at a neighborhood store
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.
My cousin quit college because he was making about $6,000 per month on the internet a five years ago. He is now only making about $2,500 per month and he feels it is too late to go back to college or get a "normal" job. So, I agree with Dave's advice. Also, don't tell your friends or extended family. My cousin gave away half of his money to his friends and relatives and lost a lot in the stock market.
Only 2500 😂, me in UK speak... 1800 a month is enough for a car, house and problem with coke haha
Your cousin is crazy if he thinks it’s too late to finish college. My friend went back to college at 62. Now she’s a full time professor at GA State in Atlanta.
Too late for that. He called in to a national talk show, everybody knows about the money now lol
@@paulnolan6866 You're salaries are also much lower though😂
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.
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?
@@megabeyondTH-cam bro
I'm wondering how this is even legal.
@@janetslater129 why would it not be legal?
how do u get into that
I was waiting for him to promote his course at the end
Underrated
BUY MY DROP SHIPPING COURSE NOW!
I would 😃
"It's not sustainable. It's not sustainable"... It's 2019 and TH-cam "Gurus" are claiming Shopify is dead. If this kid over the past year can figure out how to make $50,000 a month with currently "dead" platforms, business strategies and tactics, he will be just fine. He has already acquired business and marketing skills, and cultivated a no fear attitude. He will figure out how to adapt to the evolving business climate.
You got punked.
@@kaohsiung99 How did I get punked.
@Connor McFarlane exactly it will take over like amazon did in few years . the physical store will go out of business
GG10Comps it’s just beginning. It’s not dead, companies that haven’t adapted have died.
50k is def the low end. ppl are bringing in 200k monthly from shopify.
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
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.
"I'm 19 and i make $1,000,000 a month : My name is Mark Zuckerberg"
Rich Family BS lol he makes 300m
I make 50 k a day 😂 in my dreams this people either sale drugs or there just lieing if anything 500 a month I wouldn’t believe you if you say 1000 a month because nothing sales business are dead Iv never sold nothing on eBay and I tried it for a long time so I don’t make one penny and they make 50k really in there dreams wake up to reality people.
@@nancyvallejo9149 I have sold numerous things on Ebay but, certainly not 50k. Maybe 1-2k
@@nancyvallejo9149 Considering how bad your english is, I imagine you have a hard time attracting customers and making sales. You can make millions from Ecommerce, just because you haven't made any money doesn't mean other people haven't
@@T94869 have u personally made millions thru e-commerce
high school kid making 50k a month and with 300k on an app on his phone and he has never shown his friends? right.
Not everyone can have friends in highschool.
Not every kid brags and can have great integrity, morality and personality. Thank the Lord.
Sadly many parents don’t understand how these kids easily make this money. They always jump to conclusion and many think the worst whether it be selling drugs or something worse
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.
Bro you should of called Gary V and Grant Cordone instead of Dave
Tevin Carter Yeah for sure. This guy is an absolute idiot. E-commerce is the future of the internet.
COMEDYofANT Dave Ramsay isn’t an idiot
ECommerce is going to be big. Dropshipping specifically will be found out very quick and will lose traction. If not soon, definitely before the second half of the next decade
Matt Brown yup he aint but not this best advisor In my Opinion on this situation
Alex e-commerce is already big. Drop shipping is just a means to starting a successful e-commerce company. Once you’re established you can set up your own brand with your own warehouses and fulfillment services.
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
$50k plus a month... good lord, I wonder if this nice young man would be willing to be my mentor, I’m old but willing to learn, call me!!!! 😳
I know right. I would be happy making just half that a month.
@Jacob Votava He isn't lying. Plenty of people do this. The truth is that shopify makes money every time he makes money. So of course if he is making 50k, they will let something slide.
Look up dropshipping on youtube. plenty of resources out there
Jacob Votava he could be using his moms details or something?
Jacob Votava all you have to do it put a name a email and a age. No social security none of that. It’s really easy to sign up for this type of stuff
Me: *googling what e-commerce is while listening to him explaining it*
Right
🤣🤣🤣🤣
Exactly 😂
Super happy for kids these days. Older people love to talk down on Gen Z, but these kids are very smart and ambitious.
"these kids are very smart and ambitious." if this is true, there must be *thousands* of stories of their successes. Activate search engine, now...!
@@heedmywarning2792 there are thousands, if u can make a comment on youtube u can make a million dollars, most people dont have the ambition to learn how but its 100x easier than it has ever been
@@justinc2633 yea tell me more about your scam
I mean he is definitively in the minority.
They simply have easier access to knowledge via internet & social media, so it’s so much easier to make money faster these days. All generations have been ambitious, just didn’t have the tools and resources we have now.
I just wait to see how long before he hits the mute button
Sounds like a dropshipping advertisement.
He couldnt even open dropshiping ac without mum why is problem to open bank ac then?
It’s possibly. I’m 18 I can tell u
@@Richkidyearsago the dude is 16. Not 18, there's a difference.
I did amazon for over a year and never cracked 30k so I don’t really believe it
Luke Thomas he has multiple sources of income is possible...
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
Projection much?
He hid it from her until she saw his helicopter in the back yard.
Hahahahahahaha
Dave you should have allowed the kid to speak more. He had more to share but I feel you controlled the conversation. But great advice.
He did that because he didn't want the kid to expose himself
He did it because it was a free advertisement plug and Dave knows not to let someone get free advertising
HE IS NOT A KID ...
@@exotic1527 teenager or young Man
Forget the kid, did this dude just say someone made 4M off FARMVILLE?! Tf did I go to college for lol
Kid I know makes 10k/month just uptrading skins on a game smh
Naw.... I understand where you are coming from because the person is making solid money. However, I wouldn't enjoy that job role and would rather pursue an actual career in like finance and make 10k per month. To each their own. 😁
Suzanne M Osborne which game? csgo?
Jonas Johnson I guess if you don’t have an “actual career” and make 80k a year you won’t be seen as respectable and taken seriously, yeah tf right if a kid makes more than you that kid has more brains than you period.
college don't make u rich
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.
First thing I would do is get that $ out of Paypal!
Agree He should put in a online bank
@@a1r3x
And get reported by the bank to tax authorities or whatever financial regulator there is in the US for a transaction over 10,000 dollars, sure. Assuming this even is true, which by the looks of it, isn't.
@@luvpinas123 PayPal reports to the IRS
NoName only cash deposits are flagged. Checks, ACH’s, wires, etc are not flagged for being over 10,000
Yes, take it out and invest that money that can actually make it grow overtime with interest
This is crazy promotion for Shopify dropshipping.
Welcome to the Now exactly what I was thinking
@Jamal Dieter Like most entrepreneurs? What is your point? It would be stupid to not exploit the latest trend as long as it is profitable. You'd be silly to not want to do something "because everyone else is doing it." You'll only sound jealous and out yourself as an egoist.
@@JD-qo7hm not entering an overly saturated market isnt that crazy
Welcome to the Now this dude is definitely lying and advertising shopify for probably 50 bucks
Wait, this kid should be 18 by now. Can we get an update?
Lol Fake AF omg
@Turbo Crystal wait... it was all a joke???!
@@yuliaaaaaaaaaaa What did Turbo Crystal say?
@@AQuestioner tell me
@@winstoncox8116 it could be but there are many 16 year olds who make even more doing this
These titles just get more ridiculous and unbelievable.
This kid is better off than a lot of college graduates who are in unsustainable debt.
This kid is in debt to his mother
@@jacobtom9736 He's in debt to his mother? Or she holds a giant financial ax over his head?? Because she can take it all away. From him because he's only a minor. I think he needs to get a manipulated as soon as possible as fast as possible . He definitely needs a lawyer or two!! legal and financial
4:33 "you might have a two-year or five-year window"... dude, If I ever had a five-year window of 50k/month, I wouldn't need to work anymore.
you're telling me you could live the rest of your life on 3 million dollars oh and that's before tax since this kid is not 18 so what he's doing is kind of illegal by not paying taxes
@@stevemarch1015 at my age and in my country, I totally could.
Steve March you’re crazy if you can’t live on 3 million dollars. I’m 19 and if you handed me 3 mil I’d be set for life
@@ImNotADeeJay yeah sure buddy
@@MrAntsee oh my bad I totally could live on 3 million, by spending 10k a year and living on the srteet
When Dave says he's not questioning his integrity, he means he's questioning his integrity.
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