Living On $157K A Year In San Diego | Millennial Money

[@tammy.chen_]

The last line hit it home “I don’t want to end up losing my sense of appreciation for what I already have.” 🙏🏻

[@miree512]

Great episode! Her salary may be low for San Diego (as a dentist) but the housing allowance and other benefits that military offers her makes it worth it so much. Plus no students loans and 750k in net worth at 31? She’s incredible 👏👏

[@Polostar79]

She’s also single with no kids

[@kathywu9100]

Yeah she is balling.

[@rianweston-dodds6247]

@@kathywu9100 That's what I thought lol

[@TalkToSampson]

Yeah avoiding those dental school loans is a major win. Yeah she might make a little less being a military dentist, but it’s not uncommon for regular Dentists to graduate in their late 20s early 30s and end up with half a million in student loans

[@alp.9672]

@@kathywu9100 all things considered, she sure is

[@jones2277]

what this video shows is that who you know makes a difference. the landlord renting her parents an affordable home, taking her on errands as a small girl, and employing her at age 16 are all huge things. a strong family unit is also foundational. then, on top of that, you have to be someone who is highly motivated and has some grit and tenacity to take advantage of opportunities and follow through on the actionable steps toward your goals. and lastly, you can't get seduced by flashy things.

[@victoriatrinh8380]

Well said and agreed! :D

[@northway8209]

I recommend reading outliers, it talks about the success of people being mostly dependent on luck and oppurtunity.

[@bigbrashyable]

Then lying and exaggerating the narrative

[@canto_v12]

Absolutely. Hard work itself is often insufficient to build a good life. Resourceful parents (whether rich or poor), a positive outlook on life, a drive to explore the world available to them and a sense of work ethic and community service are all critical to personal success.

[@HaydenBowles]

Focused & intentional with her money. 10/10!

[@dailyquotechronicles]

My family’s last name is Bowles

[@dailyquotechronicles]

My family’s last name is Bowles

[@dayaf0]

Love the story. Many people who grow up without money don’t know how to manage it once they do have it. She’s doing great.

[@megaprimegamer1184]

Of course and that’s because she had great education.

[@vijayakrishnan3131]

The grocery store experience is something every first generation immigrant child can relate to. I would be so disappointed that we couldn't afford $5 boxed cereal, but the breakfasts I ate growing up are something trendy hipsters are paying $15-20 dollars at restaurants for. Lu's mentorship as a child was key to shaping her drive. Great episode.

[@tahjo7]

Regular non frosted corn flakes and old fashioned oatmeal for me.

[@Kinghippi3]

What’s breakfast 🤷🏾‍♂️

[@jackhammer078jack4]

I think that joining the navy was a good idea both about financially and service.

[@yoasali7952]

I'm late to this video. When I came to this country at the age of 9 I didn't understand why people ate cereal and milk for breakfast. For me that wasn't breakfast and specially not healthy

[@mahendrasmith7589]

@@jackhammer078jack4 Comments like this make me hate members of the military and veterans even more. How is committing war crimes in Iraq doing a service to this country or any country for that matter?

[@a004]

This is the first time CNBC has shown net worth. This should be in every episode!!!!

[@user-td7xf3gz4l]

@@P.90.603 stop

[@phantomstranger1125]

@@P.90.603 That's the entire point of this series.

[@kyawzazaw18]

@@P.90.603 It's literally millennial money

[@oprah7]

No it should be private. I don't want people to be targeted.

[@Trippze]

no it's not?

[@Floruisse]

She seems humble and grounded, smart w her money and appreciates how she got to her current lifestyle. Good job, sis… I’m rooting for you, get that FIRE 🔥!!

[@katls136]

Thank you Lu for sharing your story. "Poverty gives a sense of urgency to overcome.. ." Such a golden insight. This was the most heart felt and impactful Millennial Money episode I've watched in a long time!

[@FinancialShinanigan]

Grocery shopping without checking the prices is the ultimate flex.

[@Tunechi65]

For real. When I got my real job after college I noticed I stopped looking🤣 I realized how blessed I've been the other day when someone asked me if I've noticed gas prices and I thought to myself "I don't remember the last time I've checked what gas prices are". In my broke days you could ask me any second and I'd literally tell you what prices were that day lmao

[@boogiedownbronx73]

i've been doing that since I was a teenager...only in the USA it is super expensive...elsewhere in the world with 50 USD you get a lot !!!

[@candacedawn357]

@@Tunechi65 Just think, the extra savings by comparing prices, etc., could go towards something else like your savings and retirement.

[@candacedawn357]

I have to check the prices when I'm at Whole Foods! 😂

[@leahmcdermott4189]

I agree! I don’t think I’ve ever done that yet, I’m just so used to checking 😭. Either though I have the money, doesn’t mean I want to buy food that may be overpriced and poor value. I think I’ll just always be pretty frugal like Graham 😂🤑

[@SincerelyDiane]

I love this episode. The immigrant grind is real. I am happy to see more stories about people seeking out multiple scholarships and other ways (in this case military) to pay for tuition instead of resorting to loans. She seems humble and good with money. Wishing her success.

[@McLivin410]

Everyone is an immigrant, some just arn’t 1st or second generation. I guess that’s what this channel seeks

[@haute03]

@@McLivin410 That's not true. Indigenous Americans are not immigrants, neither are Black Americans whose ancestors descend from enslaved people.

[@aprilgarrett2596]

People would rather pay for the ivy league degrees than go to the army/navy. It's looked down upon these days even though you'd be leaving completely debt free.

[@timchow924]

My parents migrated to San Diego after the Vietnam war. They had no money to their names. When I was young, we would go to local bars on the weekends to collect bottles/cans from their dumpsters to recycle. Whatever we could do to survive. Now, I’m a nurse and make 100k a year 🙏 super grateful for this opportunity

[@Cindy99765]

​@aprilgarrett2596 I don't think it's looked down so much as people are more concerned with the risks associated with being in the military. It's a huge sacrifice spending months to years away from family on deployments and you are occasionally doing dangerous work.

[@genghiskhansdaughter7891]

She is so calm and humble. She manages her time, her career and lifestyle so well. This is so amazing and inspiring. Thank you for sharing.

[@ilikepersonalfinance7764]

I loved this one! I’m in the Navy right now and they’re paying for my masters degree :) the Navy has treated my family well

[@kaijaful]

Inspiring! I'm noticing more people are joining the FIRE movement, which is phenomenal! Beautiful story, Lu!

[@rineilperez1633]

Agreed, I’m a pharmacist in LA around the same age and pursing FIRE too! Great episode right?

[@Eskey__]

Can someone explain the FIRE to me? I’d like to retire early can possibly do that in 7 years. I really don’t want to have to get a part time job after I retire.

[@rineilperez1633]

Love her story.. I have a similar story coming from the Philippines at an early age and having to grind it out to become a pharmacist with similar salary like her. I’m pursuing FIRE as well and I’m glad other health professionals like her and I are finding it this movement! So awesome!

[@nimotanasiru3244]

FIRE is awesome!

[@je4780]

Pursuing FIRE as well. Also came from the Philippines so being able to spend more time with family and friends later down the line would be super nice.

[@rineilperez1633]

@@je4780 that’s awesome man! Glad to hear others in a similar circumstance and same goals, keep it up.

[@JikkyoLB]

Over 6k saved and invested per month, very nicely done. I’m also an immigrant from China, and I feel so lucky to live in the land of freedom and opportunities

[@Teannaschannel]

Probably the best one I’ve seen to date! Good for her 😊❤️

[@haute03]

I have a couple of friends who followed the same route (i.e., went to UMD undergrad, then medical school via the military). Very cool to see someone with a similar educational background on MM!

[@nater88dawg]

It is understated that this women is investing EIGHTY FIVE PERCENT of her budget.

[@NDiceSlice]

Insane!!

[@TheAsoek]

yup! Easy when the military pays your rent + $400 in excess. As well as other bills. Good for her!

[@MrLunxP]

She said r/wsb tho.

[@wherezbryan]

@@TheAsoek yes you’re right, good for her! But make no mistake there’s nothing easy about joining the military and earning that benefit.

[@phantomstranger1125]

@@MrLunxP That was so funny lol.

[@Darryl_Torculas]

She has done it right. kudos to her and what she has done!

[@monique.thenurse55]

She 31 years old graduated from the navy , Dentistry learned how to budget and investment which is super important for all of us .she’s living a stress free and debt free life. ( just spending less money ) on things ..Proud of her 👏🏽👏🏽Love this video

[@skylinec83]

Full pension at 42 seems like a legit tradeoff to lower salary. Start your second career knowing that you’ve got a safety net no matter what you do has got to be an amazingly freeing position to be in.

[@drewconway7135]

She is doing great! Her story inspires me.

[@littlerunner4505]

At first before she mentioned the Navy I thought 157K for a dentist in San Diego seemed low but it makes sense now. Yes, the pay is probably lower but you get so many benefits from the military. I sometimes wish I had gone that route (or the reserves). I'm too old now! 🤣 This episode was great - she's got a solid financial plan.

[@thisguy73]

She moves every 2-3 years so just imagine in the Philippines how far $500 even goes for housing

[@judymarshall6889]

My spouse and I are both Army. He's at 21 years and I'm at 13. I can say even with all of the hardships the Military was the best route for both of us. Looking at most of the people I grew up with (k-12), the most successful people I know joined the Military AND used the benefits. My spouse has two BS Degrees and I'm almost done with my first. We haven't had to pay out of pocket for school yet.

[@a004]

Zero overhead versus private practice/associate dentists who lose 40%+ of their revenue to expenses

[@kgal1298]

@@judymarshall6889 Is he combat? My brother did well with what he got, but man he was in Afghanistan and since being discharged for medical he's had his thyroid removed and has lost about 60% of his hearing and he's only 7 years older than me.

[@TheMichaelJu]

Unless you own a dental practice or multiple ones, you won't earn much more than that in San Diego as a non-specialist dentist

[@KynaNg123]

Fantastic episode. I really related to her, as a Singaporean immigrant to Canada. Emulate her work ethic, humble beginnings, building wealth via side gigs and career ambitions. Inspires me to build my net worth and keep hustling away, and not depend on my family background, to improve my net worth and provide comfort and wealth to future generations. Definitely inspiring to move up within Higher Education.

[@jackmiddleton2080]

Why did you leave Singapore to immigrate to Canada?

[@djetton1]

Definition of winning! Thanks so much for your service.

[@diywebsiteguy]

Great story as usual. Thanks CNBC for sharing stories like this on regular basis

[@mkhim]

Beautiful, she is quite financially stable yet very humble! Wow!

[@IsaacC20]

@7:16 Epic. Poverty bring sense of urgency, under the mercy of factors outside of your control. Spot on.

[@coralakey]

This series is my favorite, real people telling real stories. She's so cool.

[@patrickpaterson8785]

The US military can be more like a socioeconomic expressway if you can get accepted into the more skilled programs/ branches.

[@DiamondFlame45]

It makes you wonder why the Us government just subsidize education so people won’t have to enlist in the military in the first place?

[@DailyMeditation365]

Even enlisted Soldiers can have a very successful career and get the military to pay for everything. I know an O4 that was prior enlisted, went green to gold, got accepted to PA school, and is less than two years away from retirement, all before he's 40.

[@patrickpaterson8785]

@@DailyMeditation365 Even the deal the Air National Guard was offering me was extremely tempting. I was going to be on the f35 program and the only thing that stopped me was getting a job in my ideal field. Fat sign-on bonus, would've been active duty the whole time, etc.

[@mahendrasmith7589]

Yeah, but this chick is contributing to American military complex directly responsible for destabilizing the middle east for numerous generations to come. But if free college is more important for you than world peace, then good for you!

[@reeseanderson4432]

Literally shed a tear at her walking to school story. This is what perseverance and hard work looks like.

[@skillfuldabest]

I really didn't get that. I also walked over a mile to school. Wasn't a big deal at all LOL.

[@reeseanderson4432]

@@skillfuldabest In the snow while everyone passed in warm cars as well? 😭 That was so sad. I live in the south so can't even imagine having to walk through snow

[@skillfuldabest]

@@reeseanderson4432 that’s also not a big deal if you have a winter coat and winter boots

[@ac2889]

@@reeseanderson4432 I agree with you and I understand what your saying.

[@MaxSvensson91]

@@reeseanderson4432 haha wtf a mile is nothing, even in snow.

[@harrrMONICA]

From a fellow Navy Dentist, I loved your interview and story! Thank you for sharing with us. 🙌🏻

[@Blue_Gengar]

So basically she's incredible. Great job Lu!

[@caprinathomas2106]

Love it she is so humble ☺️ I worked in the dentistry for 12 years as RDA and Cross over to nursing great job.🙌

[@mahendrasmith7589]

Did you make as much as she did?

[@caprinathomas2106]

@@mahendrasmith7589 No I didn't lol but am definitely blessed to have the experience in my career.

[@mahendrasmith7589]

@@caprinathomas2106 hopefully your life is happier than hers is.

[@caprinathomas2106]

@@mahendrasmith7589 definitely 😁 happy with my beautiful family God is good!

[@mahendrasmith7589]

@@caprinathomas2106 stop the harassment. Emotional abuse is a form of domestic violence.

[@rrufio3026]

Massive respect to this lady

[@RagingInverno]

$750,000 saved by age 31? Dang, she's done well. Having the military pay for your housing is huge. For the rest of us living in California, that eats up so much of what we make.

[@Ray-iz7tv]

An amazing amount that she has saved up by that age, wow.

[@DangerousDeon11]

Exactly what I was thinking. That’s not regular military BAH that’s officer BAH at that. She earned it though.

[@masterbateman3288]

@@DangerousDeon11 Isn't BAH the same for enlisted and officers?

[@mmfong297]

Her 157k salary is baited into the her housing allowance already... The 750k is her net worth, not savings, but I do see she lives in a simple life by the car she drives. In actuality, many medical officers or JAG do their commitment and leave the service to go for big firms or start-up making twice as much after

[@mmfong297]

​@@DangerousDeon11 yeah, military pay is so deceiving. When you file for taxes, you appear to make half of what your actual pay. Media also likes to make ppl think they are well underpay living slightly above the poverty line supporting a family. I am a part-timer and every time I go on ADOS, I am like who else would pay me that much to sit around??

[@user-yb6tk1ru6x]

I'm glad this series is no longer just about billionaire 20yr olds, but feature actual relatable people.

[@UserInterface00]

Making $157,000 a year, you don’t need a Mercedes, BMW, Audi, brand name clothes or handbags. Driving a simple vehicle like a CRV doesn’t flaunt your wealth. She manages her money well and saving lots of it at still an early age.

[@jasoncooper6320]

I love the term, "The lasting gift of poverty" as a mindset. I have the same thing but never heard it put that way.

[@mprime1716]

The nontaxable housing stipend, which is probably the most significant part of her pay, is probably a big reason why she can save so much. Props to her for committing so much of her military compensation to equity/retirement savings.

[@MrLakers92]

This brought me to tears, love to see this for you!!! What a beautiful person inside and out!!

[@d.harrington2791]

I love her mindset, approach to money and values! She’s on the track to building generational wealth

[@jackmiddleton2080]

90% of family fortunes are gone in 3 generations. Parents always fail to pass on their full spirit to their children. For one thing there is the problem that her children will never experience being poor. They will have a new set of problems. And here is the thing... Her life experience will not be prepared for those problems. In summary she will give her children all of what she lacked as a child but she will only give them a fraction of what she was given by her parents and only a fraction of what they need as a new generation with new problems. This is all just generality obviously, her grandchild could become the Queen of England.

[@jw6451]

her mindset is great but she did not say anything about property and her housing is subsidized via some military allocation which will not really help her next generation.. she'll be in for a rude awakening when she has kids/family and her income doesn't qualify for any non military benefits and she has to pay for daycare n such.. either way she'll need a mindset adjustment taking into consideration her current and future benefit

[@cboachie30]

Amazing, what a beautiful message she delivered at the end. Thank you for sharing your story.

[@stargazer5073]

Love her story, hard work pays off. Wishing her tons of success.

[@michellenguyen6389]

She did a dental exam on me once! Nice to see her doing well

[@mahendrasmith7589]

Is she such a sad person in real life too? God, I can’t imagine meeting someone that chronic ally can’t smile.

[@z7z766]

@@mahendrasmith7589 stoic doesn’t mean sad you foool. What’s with your hate comments all over this thread?

[@mahendrasmith7589]

@@z7z766 It is not hate. Just stating some facts. I like my dentists to he friendly and have empathy, both of which this lady lacks

[@z7z766]

@@mahendrasmith7589 she’s not your dentist, and ppl won’t change their personality to accommodate your snowflake feelings.

[@nigelphillip6542]

Nice story...she is really level headed and extremely mature

[@lucymartin881]

The amount of time we spend believing we can't is more than enough time to learn how you can. - my Brain

[@lucusjames9892]

That's deep

[@darnellbeck5653]

am definitely stealing this, you are genuine 💯

[@sapilomentor9308]

Am opportunity that was once a fear is now my full-time career

[@nicolascamila503]

Stocks are good but crypto is better

[@nicolascamila503]

Stock's are crashing, Bitcoin Investment right now will be at every wise individual list in a month you we be ecstatic with the decision you make today

[@chrisvarelabenitez4690]

I live in San Diego and this is amazing. A great individual!

[@kenny1514]

This shows you can be a renter and build a strong financial net worth. She's doing great!

[@biancatoledo137]

I'm pretty sure the Navy was paying for her rent. Her housing allowance is from the navy $3,102 and then her monthly paycheck, separate from the housing allowance, is $7,065. I see it as pretty similar to having a high paying job and living at home with your parents rent-free. Regardless, I agree she's doing a great job! Especially with keeping her recreational spending low.

[@kenny1514]

@@biancatoledo137 if she was a dentist in the private sector in San Diego, she will also be earning a lot more than $157k, so the government paying her housing is not like living at home, it's more like a portion of her pay in the form of housing allowance. Her additional pay in the private sector will be far greater than the housing allowance.

[@uberboiz]

@@kenny1514 That's a very good point

[@wherezbryan]

@@biancatoledo137 It may appear similar to having a high paying job and living at home with your parents rent free. The difference is joining the Navy, working hard and earning that benefit vs living at home with parents rent free and having it given to you.

[@Mu5icPr0ducer]

who says she renting? probably bought a condo and it has appreciated a lot in value

[@CalebOliver]

Lu you are such an inspiration! The perfect example of a disciplined millennial following the FIRE plan. Keep up the good work! This is a great episode!

[@vincentiPad]

The best one so far, so humble and very relatable as an Asian immigrant

[@raymondcunanan1135]

Wow!!! She’s so smart in like almost every aspect of life. So inspiring

[@seanwei9284]

One of the best episodes. Thank you for putting this content out.

[@JYDIVISN]

Lu's story is inspiring. She's living the American dream.

[@timjenkins8538]

Congratulations on making it Lu! Truly inspiring 💪

[@jyaj007]

She's a smart girl.... Took advantages that were given and made the best out of it and plus debt free... That's 💰💰💰... Retired at 42 of age is a dream

[@marijimenez8545]

She is very smart & humble! Great episode!👏🏽

[@keith819]

Might be the best episode yet. This is much better than the ones where the numbers don’t add up and your left wondering how their actually paying bills. Good luck on early retirement !

[@iamjoehill]

Her energy seems so calming, such a relaxing video haha

[@streetmoney21]

What an amazing story and an amazing woman. You are a shining example of what is possible if you are willing to put the work in.

[@riftech57]

If you guys are wondering what program Lu join..its call Health Professions Scholarship Program. All military branch has them, but the Army has the biggest Medical Program.

[@AegwynnComA]

Great woman, done everything right and worked hard. Her dedication won her life!

[@gracemillar3384]

Finally someone who doesn’t have a KZbin channel

[@cristalcruzzin1756]

She’s amazing!! I love seeing ppl graduate debt free! It’s a lot of work but well worth it!!!

[@EA-xd1jr]

I wish I could say that has been my story but it has not been. Have been through several ups and downs. I have always envied those who chose the right career from start as they have had a smooth sailing in life. That being said I am greatful where I am now. I do not even work at all besides 2 hours a day and have financial independence . To God be the glory.

[@pricklypear1111]

Love this! I'm earning 260,000 as an internal medicine physician in the Midwest and have been able to live off 1/3 of my income bc I grew up on a total household income of 30,000/year

[@CompletedReview]

What does that work out to in terms of hourly wage?

[@cheaserceaser]

Internal medicine is not bad. Specialists make between 300K to 600K at my hospital. If you are in neurosurgeon or thoracic, it goes from 500K to 1 million a year.

[@theendurance]

@@CompletedReview $130/hour. Just divide the salary by 2000 to get a rough hourly estimate (assuming 40hrs a week)

[@Toto_Cafe._]

Graham is gonna love this video!

[@simpleshortquotes.4282]

ill always respect the grind!

[@777jones]

Droll and crisp sense of humor going on. 10/10

[@9871516690]

WHAT AN INSPIRATION!! BRAVO, girl!!

[@johnpham6780]

Awesome story. I love self made stories and the grind.

[@happylife7542]

Wow you go sis. So proud of you. Love from Seattle.

[@CaseyBurnsInvesting]

So young and such a bright future.

[@mahendrasmith7589]

Yep, it is all downhill from here

[@freehypes]

does the 157k salary include the 3k/month housing allowance? if it does not, she is so lucky. that is insane to live for free and pocket $400 a month and then on top of that gets the full salary

[@tdgdbs1]

That is her total take home pay; based on her rank, time in service, specialty pay (oral surgeon, endo, orthodontist...). Housing allowance is based on locale and rank.

[@nyokabi123]

Her housing allowance is not included in her $157K salary.

[@katsweeterly2039]

Her style is on fire!

[@RockyMountainGardener]

So impressive! Her net with is so high. You’re an inspiration, girl!

[@crappychef1960]

Love seeing these success stories, especially from those who come from humble beginnings.

[@rianweston-dodds6247]

Military covers her housing, education, job, pension... she's balling. Really smart.

[@jameelahedwards8550]

Best episode of millennial money yet

[@hustlehard4L]

When she mentioned the walk and getting into the car.... I felt that when her voice cracked a bit.

[@purplemonkeys11]

One of the most wholesome episodes ever.

[@DemetriPanici]

That's a solid pay day. This was a cool one!

[@lyndalistings]

If there’s one take away, it should be that last line. No matter what gratitude for what you have is so pivotal in one’s outlook

[@joeyGalileoHotto]

An intelligent young woman. I really wish there were more people like her.

[@mahendrasmith7589]

Since when is 30’s young? Her peak fertility is basically done.

[@averagewheyenjoyer]

@@mahendrasmith7589 cringe! Don’t value people based on their fertility. Do better!

[@mahendrasmith7589]

@@averagewheyenjoyer I didn’t say she isn’t valuable bc she isn’t fertile. You did

[@Romansbook]

Such a cool person with a great story. Keep up the good work!

[@magic_fruit_bat5003]

Graham is gonna leave his gf for this lady.

[@sheenanakahira7792]

This is an inspiring episode! Good for her.

[@kamolam4503]

My children will be telling first-generation immigrant success stories one day, as i moved to US 2 years ago and currently trying hard to build a great life for my future family. Really proud of Lu's story!

[@Evahapi]

This is one of the best episodes. Bravo Zulu to you

[@scumpuppies]

Wow! That housing allowance is incredibly helpful. Makes ample room to focus on her brokerage/retirement.

[@bradd9903]

Found the redditor! She’s doing great and will definitely hit her FIRE goal

[@lordy7933]

Awesome story…..Girl you are on 🔥🔥🔥 Thank you 🇺🇸

[@johnportilla4978]

A great American success story. You go girl. 👍

[@robwashington-personalfina5674]

No way! This gives me motivation to apply to CNBC!

[@Brownz236]

I use to work with Dr. Wang at the Amphibious base in Coronado. She’s a great dentist and will definitely go far! I have meet so many awesome dentists working in the navy for many years and I’m sure dr. Wang will be an inspiration to many future doctors. Great Video!

[@northharriscollege]

She has negative rent. That's amazing

[@faitha1075]

What’s negative rent ?

[@Magepacer]

This is the video that inspired me to choose my future career. I'll be entering college this fall to pursue a career as a general dentist. Wish me luck, ya'll! Thank you so much for everything, Miss Wang!

[@cfont4939]

I love hearing about successful children of immigrants! 💪 go, Lu!

[@omichaelnato5388]

Lol we’re all immigrants at one point or another ! She has a good brain thankfully. No mental issues

[@koolk2269]

@@omichaelnato5388 Not BIPOC (African-Americans and Native Americans).

[@igo0di]

This is fundamentally a successful person in every aspect of life