The secret is to make so much money that 1% is still enough to live on lol
@GrahamStephan4 жыл бұрын
Hah!
@inn4nyc4 жыл бұрын
Nick Skye Hoyt -- THATS what I tried to say in my comment lol
@NeonBearClaw4 жыл бұрын
Essentially.
@mrcarterfx8854 жыл бұрын
Make so much that 1% of your income still puts you in the 1%
@Je.rone_4 жыл бұрын
True!!
@zachd.8734 жыл бұрын
I stopped watching at 0:52 because thats all I needed to hear. I completely understood and moved back in with my mom. Thanks Graham.
@thaliagarcia9644 жыл бұрын
Lmfao
@alexismelendez39553 жыл бұрын
Nice one
@MaximusMuleti3 жыл бұрын
I've considered living on the streets for a summer to save up enough money to have a down payment on a home, but my investments really have taken off, so now it's just about waiting. In fact, now it's not about the down payment, it's about getting the whole house in 1 shot. That way, I can re-save with having zero housing expense eating into my profits.
@dylanblum14173 жыл бұрын
same
@sasookarry3 жыл бұрын
@@MaximusMuleti watch Graham’s video about 15 year mortgage vs. 30 year mortgage. It will help
@julieleon31694 жыл бұрын
The closest parking in my university is $600. I paid $45 for the mile away parking and determined to walk that everyday carrying a laptop and textbooks. Persistence 💪
@calebharris41274 жыл бұрын
Julie Leon personally id invest a lil into a bike!
@joelbruck664 жыл бұрын
SOAMBITIOUSDOM I love sweatcoin!!
@studlypear054 жыл бұрын
Same. My University charged $300 a semester for parking pass BUT...their was a metro link transport station half a mile away from campus. I would park there and ride my bike on to campus everyday. Free parking. Saved $600 per year.
@knucleballfreedom4 жыл бұрын
People 1 mile is a 10 min walk.
@jinjaninjagaming54434 жыл бұрын
It’s $150 at my school but I Park a mile away at the grocery store for free
@Erika24 жыл бұрын
I see a lot of comments on how $2mil a year is not relatable. I agree, but I think there's a bigger takeaway here that we can't sleep on. The takeaway is that the more you're able to save of your income (the larger your savings rate), the better off you are. Graham's savings rate is 99%, and the average US savings rate is 7.8%. Yes, 99% is going to be hard to attain for most, but strive to get as high up as you can (at least beat the average savings rate of 7.8%). Here's why: your savings rate determines the number of years it'll take to save up 1 years worth of expenses. So if you're saving the average (7.8%), it's going to take you 12.8 years to save you 1 years worth of expenses. The higher up your savings rate gets, the fewer years it takes to save up 1 years worth of expenses. See below. To me, that's the takeaway from this. 99% may be hard, but try to beat your current savings rate. Ideally, get up to a 50% savings rate. 1. Savings Rate: 10%; Years to Save 1 Years Worth of Expenses: 10 years. 2. 20%; 5 years 3. 30%; 3.3 years 4. 40%; 2.5 years 5. 50%; 2 years 6. 60%; 1.7 years 7. 70%; 1.4 years 8. 80%; 1.3 years 9. 90%; 1.1 years 10. 100%; 1 year
@littleretroship64033 жыл бұрын
Verified comment thats very useful and very long only has 14 like and 0 replies???? What the....
@levibingham90803 жыл бұрын
Very good comment. One small correction I'd like to point out that may make the math more clear. You are saying how long it takes to save up one year's "expenses", when this math actually implies one year's salary. If you have a savings rate larger than 0% then your expenses do not equal your salary. Your point still stands though, savings rate is key. If you focus on it and improve it, your financial picture gets better!
@vitsadelhole3 жыл бұрын
@@littleretroship6403 bc the math in the comment is completely wrong bc she didn't subtract savings from expenses refer to my other comment
@wiles56594 жыл бұрын
Graham: Tells me not to spend money on coffe Also Graham: Tries to get me to buy coffee
@RepublicOfIraq4 жыл бұрын
he has 20c coffee
@anatoliyrubanenko72774 жыл бұрын
$
@THEKiNG-fh9zl4 жыл бұрын
Graham is the Man!
@walterhawkins10624 жыл бұрын
It's a test
@AblazeFPS14 жыл бұрын
You're gonna save more money doing at home than buying any other coffee
@anonymoussquirrel64274 жыл бұрын
People call me a frugal skeptic... But I'm not sure I buy that.
@traviswilliams12964 жыл бұрын
😂😂😂beautifully put
@nw98014 жыл бұрын
Anonymous Squirrel *underrated comment*
@jononfirebudgetinginvestin38974 жыл бұрын
Anonymous Squirrel this comment wins
@ktom7214 жыл бұрын
Nioce! 👌🏽
@xguti0014 жыл бұрын
Lmao
@sagepavlak1234 жыл бұрын
Graham is the definition of “live like most wont now, so you can live like most can’t later”
@AaronCrowder4 жыл бұрын
amen amen
@SOAMBITIOUSDOM4 жыл бұрын
sage great quote
@Qlicky4 жыл бұрын
This kind of people rarely 'live' later. Its like a disease. By the time you realize you're slave to money its already too late.
@Pnasty13374 жыл бұрын
@@Qlicky Food for thought: "Living" means different things to different people. If the way he lives makes him happy, and rich.. Then more power to him. Peace & love!
@jenny013174 жыл бұрын
Sounds like some Dave Ramsay wisdom there
@Nwakaego_4 жыл бұрын
My question is: does Graham’s tenants watch his channel, know they’re paying his mortgage and smash the like button as the rest of us do?
@GrahamStephan4 жыл бұрын
Some of them do!
@jacobknight37874 жыл бұрын
That's why real estate is so lucrative. He gets his bills paid for taking the risk and having the money up front. They get to live without committing money/freedom to a location.
@ohaiderepeeps8284 жыл бұрын
@@jacobknight3787 The money goes to the patient, and the most productive.
@brettconstant21544 жыл бұрын
Lmfaoo I would honestly ...its not his fault I gotta live somewhere
@camamama814 жыл бұрын
@@GrahamStephan holy cow it is graham himself!!!!
@lifeinretrospecs4 жыл бұрын
I can’t live without specialty coffee. I started working at a coffee shop so I didn’t have to pay for it. coffee hacking.
@RLomoterenge3 жыл бұрын
Stonks!
@MushtaqAhmad-lx5gx3 жыл бұрын
Nice pkay
@user-3456rtu Жыл бұрын
I find myself at a crossroads, uncertain whether to liquidate my $150,000 stock portfolio. I'm seeking advice on the best strategy to capitalize on this current market.
@Upscreen6542 Жыл бұрын
Quite true! You don't necessarily need to be a flawless investor; all you need to do is seek advice from an expert. I began investing in 2016 and pulled a profit of roughly $900k that same year despite having no prior investment knowledge.
@user-3456rtu Жыл бұрын
How do I Find this Lady?
@Upscreen6542 Жыл бұрын
@user-3456rtu Жыл бұрын
I've come across a lot of recommendations but this one stands out. Nicole's resume is pretty sophisticated, and shows she was active during the last bear market, I also emailed her. Thanks for the info!
@simplyhomemaker76114 жыл бұрын
I think it was Warren Buffet that said "don't save what is left after spending, spend what is left after saving" Invest in yourself and invest in your future because you are worth it!
@michaelcarelli17884 жыл бұрын
Essentially pay yourself first. I think Rich Dad Poor Dad goes over this topic.
@simplyhomemaker76114 жыл бұрын
@@michaelcarelli1788 Yes you are right. I need to have another refresher read of that book thanks for the reminder.
@VioletIsBulletproof4 жыл бұрын
I started doing this 20% into savings right after getting paid ..after watching Graham. I was doing the reverse. saving what was left over...and boy..there was nothing left over (altho..in my defense most of the money went into student loans. Ive on purpose left some loans alone to pay off slowly to help build/keep high credit)...but yeah....i changed my tactic and ....everything is very different now. Now I just wanna figure some stuff out in life..then get into investing.
@simplyhomemaker76114 жыл бұрын
VioletIsBulletproof that’s awesome! Actually just post a video on investing as we are at that point in our journey. It’s amazing what happens when you change your perspective a little
@VioletIsBulletproof4 жыл бұрын
@@simplyhomemaker7611 in all honesty i was an effing moron. If id played smart i could've gotten out of college with 40k in savings. U thinkkkk im joking. But im not. I get depressed every time i think of past mistakes lmao
@RoyalCruiseNews4 жыл бұрын
It’s pretty easy to save 99% of your income when it’s over $2 million a year.
@GrahamStephan4 жыл бұрын
I mentioned it was 100% before, since I only spend rental income and save everything else. But the nuance was a little difficult to fully explain since that was technically income.
@RoyalCruiseNews4 жыл бұрын
Totally understand. You’re doing well for good reasons so I hope I speak for everyone when I say thanks for your advice, your dumb jokes and most importantly your ability to teach from real life examples.
@CuriosityUnchained4 жыл бұрын
Lots of people who earn 2 million a year still spend it all. The trick is to be smart and disciplined like Graham
@nitishkannan29194 жыл бұрын
Graham Stephan I’m kind of the same I have free private jets my Tesla is free supercharging my rent in LA is cheap. Wrote off all for business. Travel first class using miles and points and all the stuff is free and spend very little biggest expense is food and bills lol. So I don’t spend much at all and living rich. Without spending much at all
@kostaspiliopoulos15314 жыл бұрын
I gross 40K a year in CT. I put 10% in 401K and 10% into Roth IRA. Plus I put $192.31 a week [10k a year] into a high yet savings account. I'm saving more than 50%.
@ZacharyLaid4 жыл бұрын
I've been driving for free all my life, literally every car I have owned I either sold for break-even years later or at a slight profit. What matters is the price you pay to buy, not sell.
@manictiger4 жыл бұрын
Agreed. There are pretty much 2 price ranges for cars I might be interested in: 2000 - 4000: car that works 200 - 400: car that doesn't work
4 жыл бұрын
who paid for gas, insurance and maintenance?
@alexodonnell65554 жыл бұрын
Same, I've always loved cars so have bought desirable ones and always gets me in and out with a fun ownership experience for much less than the depreciation cost of a new car!
@MetalBum4 жыл бұрын
Zachary Laid Finding Freedom and gas is free? Repairs?
@ZacharyLaid4 жыл бұрын
@@reinen9006 frequency, first I never buy a car new, that'll depreciate so quick. second, typically anywhere from 1 month to 2 or 3 years longest I'll hold on to a car. And some cars I have owned actually APPRECIATED in value. Sports cars like Acura RSX type S and so on.
@VintageCurrent4 жыл бұрын
Even as someone with 2 kids, I can say you're spot on. I'm still working on getting to 100% ... but I'm close. While it does take more discipline, and more money when you have dependents, the lessons they learn from watching those habits are gold. The trick I'm finding is to be really transparent about what I'm doing and why so they don't take that level of success for granted.
@GrahamStephan4 жыл бұрын
🙌🏼
@ashleyjohnson94853 жыл бұрын
@MARK SHAW agreed....what the hell does 100% savings even mean😂 I guess she means 100% of her salary and will use some other source of income for expenses or this is sarcasm that I didn't understand.
@TheDressageAddict4 жыл бұрын
After starting tracking spending with Mint last October, I've cut my food spending in half. Added perk is I'm eating healthier because I'm making food at home!
@RossCampoli4 жыл бұрын
Graham’s FIRE: Frugal iced coffee Inexpensive avocado toast Rebates on Teslas Everyone smashing the like button 👍 😂
@worldbosspf14 жыл бұрын
Inexpensive girlfriend.
@RossCampoli4 жыл бұрын
worldbosspf1 hahaha that would definitely help!
@nw98014 жыл бұрын
Ross Campoli - Leadership & Business Videos best comment
@RossCampoli4 жыл бұрын
N W 🙏🙏🙏
@cherrytung4 жыл бұрын
Monetizing people around him? Girlfriend, dad, and Ramsey the cat?
@arkhamxdarkseid12494 жыл бұрын
Since I've started watching your channel, I've been able to cut so much of my impulsive spending and now look forward to ways I can cut expenses. Keep up the good work homie!
@GrahamStephan4 жыл бұрын
Nice!! Great work!
@KaiAndrew4 жыл бұрын
Preach, Graham! Hacked my through my 20s and now saving 90-95% of my income. I felt the same way as a kid - more interested in turning a buck into two, rather than spending it. Hint: Live mortgage and debt free, stretch your dollar and bottom out your fixed expenses.
@victorbaird8220 Жыл бұрын
😊
@DanielleLaBarbera4 жыл бұрын
How to save 99% of your income: don’t have children
@anewcreature74 жыл бұрын
And don’t get married.
@SOAMBITIOUSDOM4 жыл бұрын
Danielle LaBarbera they can be costly haha
@shapeshfters4 жыл бұрын
It’s also good for the environment.
@GypsyBrokenwings4 жыл бұрын
Or a husband, or become disabled....
@AsamiyaMouchou4 жыл бұрын
Also live under a bridge and eat rocks.
@smhca4 жыл бұрын
Graham. I really appreciate your free advice and not forcing us to buy any programs. You have changed my mindset completely and made investing & saving easier and more attainable. Also GG on the sponsor!!
@NickPeitsch4 жыл бұрын
After making the "$78 Tesla" video, I'm sure the ad revenue completely paid for the car itself! You got that car for FREE.
@JoeGarofaloII4 жыл бұрын
Actually, he made a video on it a while ago and it paid for the car 3x... probably about 5x by now...
@ericworthington72994 жыл бұрын
Facts...
@littleretroship64033 жыл бұрын
No, he got paid to get the car. It was an investment
@JoeGarofaloII4 жыл бұрын
How to save 99% of your income: 1. Earn $2,000,000 a year 2. Yea stop kidding yourself, you didn't complete step 1 yet
@metzli_moon4 жыл бұрын
Joe Garofalo II he’s literally BEEN normal income like the rest of us. He worked at an aquarium for a long time, and then basically was a real estate lackey for like a year, before making his first sale.
@JoeGarofaloII4 жыл бұрын
@@metzli_moon he worked at the aquarium when he was in highschool. He had another job for a few weeks and then yea he became a real estate agent and went about 10 months without selling a house. So? He worked really hard and started making really good money after his first year. He makes way more doing KZbin full time and I'm happy for him. His hard work is paying off. Saving 99% of your income isn't feasible for most people unless they have a ridiculous income on top of saving as much as they can
@metzli_moon4 жыл бұрын
Oh yeah definitely. Saving 99% of one’s income isn’t feasible for almost anyone who is usual. I just wanted to insert that he started where we or most of the audience is right now.
@PenniesNotPerfection4 жыл бұрын
Joe Garofalo II hahah yesss
@JoeGarofaloII4 жыл бұрын
@Tyler Durden nah, most people who won the lottery and a lot of athletes and celebrities don't know what to do
@Bt20274 жыл бұрын
Hey Graham, I used to live pay check to pay check but after watching your videos and keeping track of my everyday spending so far I’ve saved 50% of my income all thanks to you. My goal is to save 80-90% of my income. Just wanted to say thank you for providing us financial education which I didn’t learn in school even though I graduated as a business major. Love from West Virginia 💕
@reynoldswells61922 жыл бұрын
I always had this kind of mind set, but as a WV native who also got a business degree it's amusing/concerning that we weren't taught any of this
@trsshup4 жыл бұрын
I thought my 92.3% savings rate was impressive...I guess I better stop slacking 😂
@merryberry65764 жыл бұрын
Tristen Shuptrine how have you been doing it?
@NegativeAccelerate3 жыл бұрын
@@merryberry6576 maybe he’s 16 and lives with parents
@SenorJuan20233 жыл бұрын
Impressive. Most Impressive
@MushtaqAhmad-lx5gx3 жыл бұрын
No that is impressive
@trsshup3 жыл бұрын
@@merryberry6576 Oh i was working out of town for about a year and the company i worked for had a mancamp that provided food and housing for the project. So i put my things in storage and really only had to pay for my personal cellphone, streaming services and any other entertainment.
@Dimrain134 жыл бұрын
Steps for success I have found. Step 1: Live in a place that isnt very pricey within a 30 min drive to at least 3 bigger cities. Michigan is a good place for this. Step 2: Buy a house that needs some repairs that are cheap so you get a good deal (even if you only have 5% down its worth the PMI long term) Step 3: Make the repairs YOURSELF. I got a house that only needed a new roof for a huge discount, and it only costs $1500-2000 in parts. Step 4: Live in the house for 2 years to avoid taxes Step 5: When you sell this house if you chose well.. You should be able to get somewhere between 20-100% of the purchase price in profit. (Im hitting 100% myself) Step 6: repeat step 1-5 I'm on round 2 and plan to do this till I die.
@baylor_phillips4 жыл бұрын
GRAHAM IS THE MAN! Thanks for inspiring me to create my own channel on COMMERCIAL real estate investing. Keep crushing it!
@romanroy45644 жыл бұрын
I see you 👀
@cartermontgomery91124 жыл бұрын
haha gunnin for his job ??
@GrahamStephan4 жыл бұрын
You got it!!
@baylor_phillips4 жыл бұрын
Thanks Graham! You’re the boss
@ZachWeiss4 жыл бұрын
This video should be titled, "How I Hacked the World"
@deepeshchetwani62504 жыл бұрын
😂😂😂
@AaronCrowder4 жыл бұрын
lol
@thankfulblessed37743 жыл бұрын
😂😂🤣🤣
@GeraldOng4 жыл бұрын
Step 1 Destroy the like button - DONE! Step 2: Live for free in a duplex - IN PROGRESS 😃 Step 3: Make over 2 million a year - hmmm 🤔
@Bgbadminton4 жыл бұрын
I'm here because I make over 2 million a year and I'm trying to live off 1% of my income! Just kidding, I'm the reverse.. the 1% of KZbinrs that doesn't seem to be making 2 million a year hahaha!
@Erika24 жыл бұрын
@@Bgbadminton Haha, same. I make $0 on KZbin but I love doing it so it's worth it :)
@carlmartin87234 жыл бұрын
@@Erika2 Your videos are great. Well done. Keep going.
@Erika24 жыл бұрын
@@carlmartin8723 Wow, thank you! I really appreciate that! Thanks for the sub :)
@WitchLuw4 жыл бұрын
@@Bgbadminton ya true. If i had to get cars i'd have like 5 cars max
@mizzysparrots48744 жыл бұрын
I save money by extreme couponing. I pay almost nothing for things I need, like toilet paper, shampoo, soap, and toothpaste. I know so many people who blow money on this junk at the dollar store because they think its cheaper but in reality they are just getting cheap brands and wasting that money whereas I am spending almost nothing on name brands and good quality. I try to teach this to people on how to do it and they dont wanna learn. It's crazy how many people just dont actually make money/saving/discount shopping a priority when it really should be. I'm talking like I save about 95% off retail prices, not just a few cents or dollars. I just went to CVS the other day and bought 4 items that retailed for $28 but I only spent $3.98 lol and I got 3 bottles of pantene shampoo and 1 bottle of dove body wash!!! Edit : don't believe the show on tlc where they depict people spending like 8 hours a day looking through coupons. I have never done that, and I dont know anyone who has. It's easy to just go to the stores and buy the items you need that also give money back.
@ianscianablo85074 жыл бұрын
How can I do this? I use only a handful of name brands every week. Which sites? Thanks!!! I love coupons but I don't buy the paper.
@RossLemon3 жыл бұрын
That's good that you're saving money on toiletries but for me it's not so much saving money but saving time. I feel that I could accomplish much more with my time, doing something else, rather than sitting around couponing for several hours. Not saying that's a bad thing, it's just not for me.
@alexismelendez39553 жыл бұрын
What sources helped you with coupons!
@DKM.233 жыл бұрын
@Luke Missirian-Parise whether you like or not money is kind of your god. It dictates how you live your life, you are a slave to it and becoming financially independent is becoming unshackled. As much as I think what graham does is potentially ott the mindset of saving like that is an intelligent one
@Balls990003 жыл бұрын
How much is your time worth?
@logank79094 жыл бұрын
I love commenting for the KZbin algorithm
@AaronCrowder4 жыл бұрын
john dope same
@abraamgirgis95644 жыл бұрын
Legend has it that if you comment early with "this comment is strictly for the KZbin algorithm" You shall be hearted by Graham himself.
@GrahamStephan4 жыл бұрын
Done!
@abraamgirgis95644 жыл бұрын
@@GrahamStephan just want to say thanks for all you've done for your subscribers, I'm 18 and have been watching since 16 since then I've got a credit card with a 700 credit score, have 3 properties one I'm househacking while at Uni doing Pharmacy, while running my online buissness and will be set to be a millionaire by 26. Truly because of you. Thank you for your inspiration Graham. - Abraam
@BrokerBob4 жыл бұрын
Graham, please find a way to save 200% of your income.
@RealLifeMoney4 жыл бұрын
Broker Bob Oh he probably will don’t worry haha
@AblazeFPS14 жыл бұрын
Broker Bob get to work
@OwolabbyAzeez4 жыл бұрын
Did y’all know it’s impossible to breathe while smiling? Kidding just wanted y’all to smile. If you’re reading this bruv (or bruvette), understand that you are amazing bro, have a blessed day and don’t let nobody ruin your day bro. Get ya bread and all the crumbs too. 🤧🙌🏾🔥
@GrahamStephan4 жыл бұрын
:)
@nw98014 жыл бұрын
Owolabby Azeez this was a wonderful comment. Thank you bruv!
@cherrytung4 жыл бұрын
Owolabby Azeez awwww 💓
@kyawthwe96944 жыл бұрын
I wasn’t planing to smile today, you got me there 😂👍🏼👍🏼
@ALXSSA4 жыл бұрын
you made me smile lol
@alexandertsigaridas54113 жыл бұрын
I know people in the UK who spend £100-£150 per week on "socialising" (alcohol and drugs). When I asked them, none of them thought that they could pay off a mortgage for a rental property with the same amount.
@mugustabjeonklei26134 жыл бұрын
About eating at restaurants, ask your cashier or waitress if there's a cheaper way to order.... This can happen if they're raising funds for a charity and give coupons to you after you donate. Example: Taco Bell gives you a coupon for a "free" taco when you donate 1$ (and there's no sales tax on donations). The exact same taco normally went for $1.39 when I worked there.
@AutoTechWorld_DIY4 жыл бұрын
Jokes aside, I think you first tip was the best. Live in your parents basement and put your feet under their table 😂😂
@GrahamStephan4 жыл бұрын
Haha works well ;)
@kacperc7474 жыл бұрын
I'm 15 years old and these videos are extremely interesting to me. I wanna get to the same point as Graham one day.
@GrahamStephan4 жыл бұрын
Awesome!!
@raymuench17934 жыл бұрын
You couldn't have a better role model than Graham. He's ethical, crazy smart and a real innovator.
@RossCampoli4 жыл бұрын
Graham teaching FIRE, meanwhile his videos have ALWAYS been 🔥🔥🔥
@GrahamStephan4 жыл бұрын
Thanks!
@RossCampoli4 жыл бұрын
Graham Stephan thanks for the great videos, Graham!
@ResourceTalks4 жыл бұрын
Next video: how I save 101% of my income.
@matthew81534 жыл бұрын
B.A.B.Y Investments Get the right tax credits
@IZylusI4 жыл бұрын
I got so confused when he started yelling at his mom but thought in my head "well I mean living with your mom does cut down a lot of costs" and it lead to exactly that.
@chrisglaze14104 жыл бұрын
Yeah
@spoyledbratt4 жыл бұрын
Living with my parents helped me buy a home sooner.
@blackrain19994 жыл бұрын
Y' all are some spoiled brats. Which poor parent lets themselves be exploited like that by fully grown- up, healthy and able-bodied kids without expecting anything back somehow someday? (Reminder: Don't get kids, that is exactly how they are going to turn nowadays).
@Jujub8264 жыл бұрын
Now we need a “where my 99% income goes that I save”
@christopherorick86524 жыл бұрын
good juju into that Roth IRA, individual account, and more real estate.
@HearMeLearn4 жыл бұрын
@@christopherorick8652 this, he's gonna have so many millions once he's old that he's not gonna even know what to spend it on
@TheExcellentInvestor4 жыл бұрын
“Mom the meat loaf!”
@GrahamStephan4 жыл бұрын
THE MEAT LOOOAFFFFF
@TheExcellentInvestor4 жыл бұрын
Graham Stephan You reminded me of that scene! Good video bro
@SilverFan21k4 жыл бұрын
Josh A Berg i never know... what she’s doing... in there.... :x
@TheExcellentInvestor4 жыл бұрын
Griffin Brumley 😂 What a great classic!
@bensonfinancial39454 жыл бұрын
I save 99% of my income too. I just don't spend anything!
@averagejoey20004 жыл бұрын
neither does Graham
@mike775884 жыл бұрын
What do you eat, where do you live
@jeffdorris53214 жыл бұрын
House hacking is real I have done it 3 times. 1. Time I was living with a roommate and we split expenses 50/50. 2. I bought a four plex lived in one unit and rented the other 3 units out. Got approved with an FHA loan. 3. I paid cash and bought a 3 bedroom house. That way no rent or mortgage, only need to pay property taxes.
@AvatarEnd7773 жыл бұрын
Dude, you are a man after my own heart. I already do all the things you talk about but like listening to you because hardly anyone I know does this so and listening to you makes me feel less alone.
@tyisamess4 жыл бұрын
How I Save 99% of My Income Step 1: become a millionaire
@RealLifeMoney4 жыл бұрын
Ty Yoder Makes it slightly easier 😝
@AaronCrowder4 жыл бұрын
lol
@traviswilliams12964 жыл бұрын
Step 1. Make over a million a year..
@cherrytung4 жыл бұрын
Travis Williams true story though
@adolpholiverbush58674 жыл бұрын
2 million
@princesses29094 жыл бұрын
1.2 M after taxes
@kevinsmithfan374 жыл бұрын
Not really. Im looking to buy a place for 250-300k. If i buy a place for 250k the repayments work out to about 1k per month for 30 years. But if i was to save extra money and instead of paying my mortgage down i put it in the spm500 and say make 5%. Well once i clear 240k in savings i would be making 12k a year in interest. The more i pile money in the more it could cover other expenses like petrol, electric, phone/internet, car insurance, food. At some point as long as you just wanna live modest you would cover all your bills
@alecjoseph13134 жыл бұрын
Or live frugile, takes sacrifice lol
@imgonzalez4 жыл бұрын
Next video: How i get paid to save my income
@GrahamStephan4 жыл бұрын
😂
@cherrytung4 жыл бұрын
Adrian Gonzalez also true 🙌
@matthew81534 жыл бұрын
Adrian Gonzalez I did that for a while. When my parents would give me an allowance when I was about 10 my grandmother would double it under the condition I’d put it all into a savings account.
@RobinVL4 жыл бұрын
if i save 99% off my income im left with 18 euros, should be enough for a month of living expenses lol
@AaronCrowder4 жыл бұрын
RobinVL lolol
@chrysterfung59834 жыл бұрын
RobinVL 🤣🤣🤣🤣
@MusicNerdMIDI Жыл бұрын
Love the free parking idea. I had a vacation trip to San Francisco recently and we already knew that parking would be incredibly challenging. We stayed at a hotel just north of San Francisco, paid $100+ less for the room, and paid $0 for parking (it would have been $65+ per day at the same brand hotel, just located near Fisherman's Wharf). When going into San Francisco, we would just wait or drive around our location for a few minutes into the neighborhoods and found free parking spots with just a bit of patience, and walked towards our location, instead of paying $8 on a meter PER stop! For a 2.5 day trip in San Francisco, we've spent a total of $5 in parking and drove to all of our locations!
@kaylagnapp55094 жыл бұрын
And here I thought I was doing pretty well by saving almost 60% of my income... back to work! In all seriousness, your videos keep me motivated to keep working hard so one days I can live off my investments, hopefully by 45! Thanks for all you do!
@GrahamStephan4 жыл бұрын
🙌🏼
@davidmayer70304 жыл бұрын
“I said that all in one take” that gets a like 😂
@GrahamStephan4 жыл бұрын
🙌🏼😍
@damiennana56554 жыл бұрын
That coffee ad was the most clever way to advertise something out of nowhere. Well done Graham
@alanflors4 жыл бұрын
First step: make tons of money. Step two: live like the average american.
@AaronCrowder4 жыл бұрын
just gotta keep hustlin!
@AuraGrimaldo4 жыл бұрын
I'm sure the average American lives nothing like him
@EllisAidan4 жыл бұрын
Step 3: never work a day again in your life
@jenny013174 жыл бұрын
no more $600 wage subsidies.. D;
@bernardrouhi4513 жыл бұрын
One thing about cooking your own food does not only save you money also you know what you put in your body.
@ellisback65194 жыл бұрын
Step 1: Make 100 million a year Step 2: Spend 1 million a year
@GrahamStephan4 жыл бұрын
😱
@ericworthington72994 жыл бұрын
1 million is 1% too much...
@alexyogendran1964 жыл бұрын
I always make a 20 cent ice coffee before watching you
@GrahamStephan4 жыл бұрын
:)
@Laffy13454 жыл бұрын
You cheap..go to McDonalds. ..1 dollar or 55cent if your old...ok boomer..your old and your welcome.
@Laffy13454 жыл бұрын
Oh, Black Rifle Coffee is the best. It supports the Soldiers who work there.
@alexyogendran1964 жыл бұрын
Larry Williams im 15 years tho
@Laffy13454 жыл бұрын
@@alexyogendran196 oh, tell them your 55, you just look 15
You should make a video about how to estimate the value of a property! That will really help people like me who’s trynna be a young real estate investors. 🤜🏾
@oregonhomeswithmariahcrawford3 жыл бұрын
Love how you explained your reasoning behind doing all of this🙌🏼🙌🏼so good!!
@brandonwilcox74114 жыл бұрын
Love this channel! Could you possibly make a video for new grads or anybody who is basically starting from scratch with little to no savings? Going over stuff like budgeting and investing when you don’t have a ton of disposable income? Already smashed the like button! Keep up the good work!
@OmniscientlyMe4 жыл бұрын
How to save 99% of your income per year: Step 1. Make 100x more money than you need. Step 2. Only spend as much as you need.
@myrtlewyckoff30604 жыл бұрын
Talk about vacation and leisure spending. I always wondered what vacations are like for you and how you save money.
@vitsadelhole3 жыл бұрын
Use points and earn status those are the best ways to save money traveling
@Kan-dj7qd4 жыл бұрын
I’ve already screwed up big time graham. I’m 24 and was able to get my first house which is amazing but I bought a car that I can’t really afford as well. Around $545 monthly including insurance. I’m so disappointed in myself considering I had a truck that was already paid off that I sold to get this car....
@anh78074 жыл бұрын
Sometimes its best to let it go and take the loss so your credit score can begin to recover sooner than later. You can also try to refinance at lower payments, or become a stripper :b
@Live-Life-Freely4 жыл бұрын
I'm sure Graham has mentioned this somewhere but something else that's absolutely critical for opening yourself up to financial independence is to not have kids out-of-wedlock, finish high school and get a full-time job. From there you have the freedom to use your work income for your business. As for the coffee, when I was in my late teens early twenties I used to drink coffee until I saw how the adults around me practically worshipped coffee and could operate without it. I quickly realized that this is a drug that I can do without and stopped drinking it. Saving money by not eating out is actually fun because you incorporate it into your overall savings plan and it then becomes a sort of game to see homey much you can save from month to month and how you can outdo yourself.
@jbmaynar14 жыл бұрын
Essentially a lot of these money saving tips is to have “will power”
@rpierrelouis0714 жыл бұрын
802Brew lol eventually I will have will power until then I’m balling!! 🤑🤑
@SOAMBITIOUSDOM4 жыл бұрын
802Brew Yep and picking priorities
@waynemiller60704 жыл бұрын
Yes, discipline.
@da14a494 жыл бұрын
You picked up on something clearly - 'think and grow rich' carries this message.
@danf44473 жыл бұрын
"house hacking " sounds so much cooler than running a boarding house like miss kitty on gun smoke 100 years ago...
@NeonBearClaw4 жыл бұрын
9:53 Such a smooth transition. Graham, you are too damn good at this. Keep up the good work!
@AaronCrowder4 жыл бұрын
Motivated To Learn he’s a legend. trying to get where he’s at🙌🏼
@NeonBearClaw4 жыл бұрын
@@AaronCrowder You'll get there as long as you keep at it, and always focus on quality.
@AaronCrowder4 жыл бұрын
Motivated To Learn i’m definitely working brotha! thanks for the motivation :)
@Papeeshka4 жыл бұрын
There is no free parking a block away in LA. It’s so crazy here. But I do agree if I leave early and get somewhere before it gets busy it is way easier to find a spot.
@obruche28224 жыл бұрын
I ponder on how my retirement experience would generally feel like because I've not yet been able to save enough money and according to my spreadsheet I'm 9 years closer to my retirement schedule.
@chinwendun64014 жыл бұрын
hi frank ,i really need to invest with an expert broker,what are his terms or how do i get in touch with him
@obruche28224 жыл бұрын
@@chinwendun6401 i do get in touch with him at
@ncpriscilla40814 жыл бұрын
i have seen a couple of good reviews about this same trader across multiple comments here on KZbin though am yet to give him a trial
@lawrencerodrigo83354 жыл бұрын
I appreciate the trust built over the past few months of working with him and I respect him for his honesty and hard work
@tobyknapik4 жыл бұрын
“... because QUITE LITERALLY, I am standing behind it” Graham, we are getting a much better ROI in the form of your jokes since this channel’s inception. I literally chuckled to that one.
@josefchamera4 жыл бұрын
Hey Graham hope you'll read this lol. I'm almost 19 and I'm trying to find a place to buy or rent near my college for cheaper living. I searched around but the majority of properties are valued $300k - $500k on Zillow! Having said this trying to house hack these properties wouldn't be the most cost-effective and considering I barely have a credit history, taking a loan for downpayment would be difficult. My other option would be renting out a place and subletting to other college students. I'm currently attending the University of Maryland but I want to get an early start on real estate and better financing. Do you have ideas on where I can start with finding the best deal to rent and what's the best way to cash flow a potential rental property? Your videos mean a lot and it's really inspiring as a millennial! Major thanks Gram!
@RealLifeMoney4 жыл бұрын
Josef Chamera Those are good questions actually. To start in your situation renting the spot and possibly subletting could be a decent plan. Probably have to check with landlord that might not like it tho 🤔
@woody500z4 жыл бұрын
How does one find out if the car has reached it's minimum depreciation? (In reference to car hacking)
@waynemiller60704 жыл бұрын
My Dodge Caravan was 10 years old when I bought it 10 years ago. I spent $4,000. I've put about 50,000 miles on it since then. It's still in pretty good shape and if I wanted to sell it I could probably get $2,500. But I've never really been a car guy. It's comfortable enough and it goes the speed limit. 😉
@natatatt4 жыл бұрын
Free parking - some cities have very little free parking at all, and what little there is, is always taken. I live in Vancouver and most of downtown is paid parking - really difficult to find free.
@shadownation45664 жыл бұрын
The credit card hack isn’t truly free every credit card I’ve ever seen had 3% added to what ever you purchase say you purchase a item for 2000 you would end up paying 2060 after fees. It would be cheeper for sure, but not free. Unless you know of a company that doesn’t have a usage fee. If so I would love to know.
@ukelaalred25754 жыл бұрын
“But Graham!” 🤣😭
@GrahamStephan4 жыл бұрын
😜
@SOAMBITIOUSDOM4 жыл бұрын
Ukela Alred 😂😭
@DividendGrowthInvesting4 жыл бұрын
A video from Graham and Andrei on the same day.. Life is good.
@GrahamStephan4 жыл бұрын
:)
@hunszaszist4 жыл бұрын
Step 1: Increase earnings to 10000% Step 2: When you have your dream house and car, reduce spendings to whatever it was originally.
@HappyHealthyandFree4 жыл бұрын
We are a family of 4. Living debt free. In the process of buying a home. We will house hack the basement. We will be renovating so in laws will be renting it at first while we split costs but in a couple of years a renter on thr basement should be the mortgage or possibly short term rental for even more $$$
@coachaaronmba4 жыл бұрын
Hey Graham! You should make a video breaking down your dollar per hour work on KZbin so far. It would be interesting to see how much that upfront time has made you now!
@chrisglaze14104 жыл бұрын
Mine is 0 now, but I love doing it!
@Everardo10M4 жыл бұрын
New game: take a shot every time he says “passive income”
@Lelouch121954 жыл бұрын
Everardo I’m drunk...so drunk I smashed the dislike button. Blame it on this guy Graham 😂
@weerobot4 жыл бұрын
Yes... ROFL
@timotius4 жыл бұрын
I agree though, living with your parents save lots of money 🤑🤑
@arcaneknight97994 жыл бұрын
Pffft, pleb... I save 101% of my income.
@GrahamStephan4 жыл бұрын
NOICEEEEE
@arcaneknight97994 жыл бұрын
@@GrahamStephan Pin me, daddy!
@sirmeurtrier69514 жыл бұрын
Graham Stephan 💀💀💀
@ptnibin1234564 жыл бұрын
I use the traditional kakeibo method of budgeting to track my expenses !! & i find it extremely helpful....
@Shashika4 жыл бұрын
Love u bro been following you for years 🔥❤🔥 So inspirational
@AaronCrowder4 жыл бұрын
shashika. 2000 love it🙌🏼
@riellg.e.m.b-112beatz44 жыл бұрын
“I’m making the money I didn’t spend “ - Brilliant mind shift
@MrTeachYa4 жыл бұрын
Step one: make enough money that you can afford to live off of the 1%
@epbrown014 жыл бұрын
Step one: try living off 90% and work your way from there. Graham didn’t start out saving 99%, why do others expect to? FTR: I make $35k/yr and save 98% of that, took abt 7 years.
@bryan_witha_whyy4 жыл бұрын
It starts with saving just 1%. Eventually that will flip.
@winnersmakenoexcuses23604 жыл бұрын
@@epbrown01 Is $35K/yr your net income? So your living expenses are $7K/yr....? How on earth is that possible, that's less than $600/month? Even if you don't pay for mortgage or rent it seems impossible? Where do you live...? I suppose you have other income streams outside the $35K/yr?
@kenwen77914 жыл бұрын
@@winnersmakenoexcuses2360 incorrect, he lives with only $700 a year, but how?
@winnersmakenoexcuses23604 жыл бұрын
@@kenwen7791 Ooops my bad :-) wasn't really awaken when I did a math... not an unimportant nuance in this discussion :-)
@GeoffreyJamesKing4 жыл бұрын
FIRE FAIL I NEED MONEY REALLY WANT TO ENJOY WHAT I DO EVERYTHING IS EXPENSIVE
@portcitytrading69234 жыл бұрын
If the car is in your company’s name , your personal usage is a taxable benefit since it is a business asset not a personal asset.
@GrahamStephan4 жыл бұрын
True
@sunderwire4 жыл бұрын
In college I had to pay 700$ a year for parking (which was the least expensive option and far off campus, had to walk/ride about 1-2 miles each way everyday. Another reason college is overpriced...
@TigersLullaby1254 жыл бұрын
Honestly house hacking isn't really living for free.. I mean in a sense yeah, but if you think about it, it isn't spending any less money at all. The mortgage on the property when house hacking is still the same and still coming out of your pocket regardless. It can't really be considered spending less money, rather it should be considered Making more. You have 3 important numbers. •What you make •What you spend •The difference of the first two In other words 'Revenue, 'Expense, and Profit. I noticed Graham usually defines saving as increasing profit by any means, increasing revenue OR decreasing expense, which is honestly the Best way to see it and would help a lot of people become more wealthy, but his definition isn't the one us non-well off people use. We're on a different level of understanding so we communicate that word differently. To all us poor people the word "Saving" really only deals with cutting back on the 'expenses but that expense isn't changed at all. We don't consider making more as saving, it's just making more to us haha. House hacking is just increasing the revenue, that aint part of our definition of saving haha. Same result tho.. Increasing profits is all that's important. I just thought I'd let that be explained in a different light because there are a lot of us poor people who get tricked by that word "Saving". They see buy 2 get one half off at a grocery store and do it. So now they have bought 3 of something that lets say was $10 so they spent $25 when they originally only intended on getting one and therefore have actually lost $15 More than what they planned and have not truly saved anything.. Especially bad if they weren't tryna buy any of that item in the first place. No matter how nice and appealing the deal was, simply because they wouldn't have needed it or wanted it when they walked in, not one penny was "Saved". You got tricked with the psychology in marketing Or for example some places will mark up the natural price of an item and then slap a sale sticker on it to make it more tempting while still sold at the exact same price. Much higher chance to buy something for $5 when it says ($10) crossed off. I hope this helps some people see a new light. Keep ya head up, we gon get through poverty in time. And Graham you the man! Ik your mind naturally thinks in the better definition of the term but if u can, it would be cool to incorporate our perspective on that "saving" word in your vids occasionally because I'm sure it confuses or gives a false idea to some. Or even make a whole video specifically focused on it! Love your vids man. You were my inspiration to get into real estate. Now I'm friends with a realtor and shortly will be starting as an agent hopefully saving a bunch and becoming a real estate investor so I can take care of my family
@kyrovlogz80364 жыл бұрын
Hey I absolutely love your channel and I know you’re very business savvy, I watch almost every one of your videos, but I found the amount of ads in this video almost unbearable, as a member of your long term audience taking just 1-2 ads out of this one would help, I don’t know if it’s because they are stacking with the new KZbin algorithm, but it makes it hard to stay consistent with the information you are giving me whenever the ads take forever to load sometimes, and I had to rewatch the whole thing to really get it because it was so broken up. Sincerely, A long term fan
@ericworthington72994 жыл бұрын
Just pay the $11.99 KZbin Premium & you dont have to see / worry about ads...
@SaiyanBranch4 жыл бұрын
Kyro Vlogz I thought it was just me. Crazy amount of ads for sure
@kyrovlogz80364 жыл бұрын
Eric Worthington read the title again 🤣
@ericworthington72994 жыл бұрын
@@kyrovlogz8036 🤦🏻♂️👍🏼😆
@kyrovlogz80364 жыл бұрын
Eric Worthington glad I made you laugh :)
@adolpholiverbush58674 жыл бұрын
How I live on 1% of what I make: Step 1: live for free in a duplex Step 2: make over 2 million a year
@adolpholiverbush58674 жыл бұрын
How so?
@shaloon644 жыл бұрын
@@iamtheboredlife9915 seems like the opposite of a goof. A goof dont have money
@AaronCrowder4 жыл бұрын
its hard im sure
@johannadonaldson89752 жыл бұрын
Graham you make me feel awful about my loose spending habits and I LOVE IT. Thank you sir
@waynemiller60704 жыл бұрын
If it's more difficult than watching a KZbin video, a lot of people simply won't do it. The biggest change in my life came when I started tracking my income and expenses with quicken (since 1994). It helps that I find it so entertaining that I enjoy spending the time on it.
@adrianschuh73024 жыл бұрын
"Mom! No I dont want hot dogs!" 😂🤣 totally worth smashing the like button
@GrahamStephan4 жыл бұрын
Hah thanks!
@matthew81534 жыл бұрын
Graham Stephan You responded to him but didn’t give home a like. That alone could just be a mistake but after you went from saving 100% of your income to only saving 99% I think you’re starting to slip.
@lukgaming83854 жыл бұрын
6:11 did this man spell business wrong or is that something I never heard of
@GrahamStephan4 жыл бұрын
My bad!
@MissUnpossible4 жыл бұрын
I really have to say how much I appreciate your channel cos I cut my expenses in HALF since I started watching you, and I have more leftover then ever even though I make less money (since I had to take low pay internship for my exam)...my only regret is that I haven't discovered you earlier =) cheers to you!!
@RedSeoulOwl4 жыл бұрын
Maybe start making videos about the best student, personal, and/or consolidation loans?
@hhroyce88594 жыл бұрын
Graham, idea for a video. I think it'd be interesting for you to explain working from $40-50k a year to saving enough for a first duplex. For example avg home costs monthly taken out and how to step up to millionaire. Ideas for 1-5 year investments to buy a property 20% down. Maybe a video on when refinancing will work out well for someone. Always appreciate you and meet Kevin's videos. Between you two I bought a house with $0 down. Always appreciate the numbers you run, keep up the hard work