The Problem With Living On $650K In Los Angeles | Millennial Money

Today we're reacting to: Living On $650K A Year In Los Angeles | Millennial Money
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[@IAmTheAnswerer]

Shout out to Lauren for NOT investing in crypto currency. It's all falling apart and she was right not to invest in the imaginary money.

[@chatneyknapp30]

watching this In the "future" yeah she made a very great call.

[@justuskidd4692]

Now is an even better time to invest.

[@jaesall3519]

Yep

[@KBdotHAQ]

It's all made by people

[@lifeaccordingtoren]

She did a speech at my college, so amazing to see how far she’s come!

[@diamante1ification]

Looking forward to seeing her on "The Iced Coffee Hour" especially since she has been on many other videos. Its only right that you have her as a guest on your show.

That would be pretty cool!

[@MrMspam03]

Graham can find out where she lives... low key crush 😮

[@3DAntoine]

I like how graham spent half the video defending crypto. He’s really changed from before saying “it’s not worth the risk”

[@msgeorgejourney]

This was such vague episode. How exactly did she made the jump? Descretionary $182? Where's the beauty budget 'cause that hair ain't cheap.

[@13ikea]

I read she makes her money from brand partnerships, speaking engagements, etc.

[@Naomi-xu4hq]

@@13ikea basically she’s an influencer

[@sharlenelockett2224]

Love that Lauren spends her money the way that she chooses to Graham. Like she stated if or when she decides to, she will. She keeps her expenses outside of her business the same. More people can learn from this.

[@uberkill160]

At the time of this video's release (March 2022), Bitcoin was worth about $47k. At the time of me writing this comment (March 2023) it is about $24k, which represents a change of -49%. Ethereum over the same period has changed -51%. Good work keeping your hands clean of the stuff, Lauren!

[@jamesdeininger3759]

All that crypto-cheerleading really aged well 😂💸

[@k033as9]

FTX = 0 DOLLARS

[@kern417]

aging well now :D

[@zType2]

Eh.. if she's more confident in buying stocks I'd stick to that. Not everyone is comfortable investing in something they don't know how to value and is so volatile.

[@wildwoody100]

Yeah. Stick to what you're comfortable with is LITERALLY what Graham himself always brings out as an excuse when guests ask him why isn't he outsource-ing more for his channel ect. :D

[@sheabenson99]

It's true 😂😂

[@AmandaVieiraMamaesouCult]

That's not how risk management works though. Everyone NEEDS to diversify.

[@Naomi-xu4hq]

@@AmandaVieiraMamaesouCult you can diversify in different areas and she’s clearly doing better than you

[@alejandromaya5679]

She’d be down like 50% if she invested in crypto when he said to lol

[@JohneyWalker69]

Honestly it doesn't even matter if Graham makes most of his money from KZbin NOW, what matters is that he was a millionaire in his 20's before he even started KZbin and still proceeded to make more money in real estate while doing KZbin.

[@AmandaVieiraMamaesouCult]

And he manages his money well

[@laina-brown]

I liked how she set how much she was worth and decided she wasn't going to go lower. Of course it would be one thing if it didn't work out, but I see this as her valuing her time, which is the most scarce resource.

[@kost4060]

Graham you have to understand, she studied currency, financial markets and understands how banking ultimately works. Everybody in the financial world who knowns anything about currency knows the US government will never allow crypto to undermine their dollar. It will become a centralized currency like she said but most likely on par with the US dollar and created by an entity most likely controlled and regulated by the feds.

[@Ndasuunye]

The war has other plans meanwhile

[@CG-uk1vz]

Explain this to those who made hundreds of thousands dollars from simply holding crypto.

[@brandonbarker795]

this makes no sense

[@AmandaVieiraMamaesouCult]

The US won't be able to stop Bitcoin. Of course Wall Street thinks they can control crypto, they're literally the enemy in this equation.

[@kost4060]

@@CG-uk1vz never said they couldn’t make money, but someone is going to be a bag holder at the end of the day, sorry correction, people already are bag holders

[@manchuratt8900]

Food is cheap when you make your own meals. I spend about ~$40/mo on food when I make all my meals. I prepare food for week since I hate cooking on weekdays.

[@MrSKlim]

Lmao. A MONTH? Please make a detailed video of what you buy and what you make and the macros. Either you’re lying, or you’re killing yourself eating the worst cheapest garbage ever.

[@danielh377]

What do you eat in order to live on a food budget of $1.32 a day? I also make most of my own meals. It's affordable and healthy but my fruit and vegetable spending alone is way more than $40 a month.

[@bobbygunz9254]

Best part about this sell-off i have been mostly right, the worst part about it is that i don’t t short anymore so I’m not making much money, but at least i get to buy twice the btc with same USD amount

[@Jme---]

I cant believe people are selling dips. I don’t understand why lol. i am strongly holding and buying dips that i can DCA properly on.

[@PhilipMurray251]

@@Jme--- The best time to buy according by NICOLE ANN SABIN advice, she is a FA and what is playing out in my bag, she is buying BTC and ALTs with DCA strategy. i just can’t imagine what my portfolio would look like in the next leg up, but 2x i am fine and out.

[@instinctively_awesome8283]

@@PhilipMurray251< how can this person be reached, because i really need guidance>

[@PhilipMurray251]

@@instinctively_awesome8283

[@DoctorFashion]

Graham said, "How is she surviving on $165 on food?" I spend less than that and I'm surviving lol!

[@stefancoban59]

Do u starve yourself?

[@Homestead925]

@@stefancoban59 not everyone lives in expensive area

[@Ghosty716]

@@Homestead925 even in the cheapest countries in the world that is definitely not a lot. Doesn’t matter if the area is cheap

[@DoctorFashion]

@@stefancoban59 No, I cook more and eat out less

[@DoctorFashion]

@@Homestead925 I live in california and Vegas .. pretty expensive in Cali 😅

[@Jill_Horvath]

Wow, she’s amazing! I love these CNBC make it videos, they’re so inspiring!

[@nicolaslementec]

The thing I don't get is you always say they keep the same expenses no matter how much they earn, but spending 5000 $ a month is quite a lot and she prob didn't spend that when she earned less, so in the end everyone is living that lifestyle inflation to a certain degree

[@samanthapicard-drouin5326]

I guess she was staying somewhere a lot less expensive but for the rest, all of her other expenses didn't really change I think.

[@buckingnutz09]

Out of that $4800, $3900 is rent. I'd say $900 in non-rent expenses with her income is a really good job avoiding lifestyle creep. That and having a nice home can pay dividends to mental health and job performance.

[@nicolaslementec]

@@samanthapicard-drouin5326 yes you're prob right

[@nicolaslementec]

@@buckingnutz09 yes sure

[@GuacSause]

I mean yea but the idea is to not change it DRASTICALLY. Only spending $5k in LA when you make $600k+ is pretty fucking impressive. $5k is a lot but her rent is literally $3800. Thats only $1200 of monthly expenses in LA…literally the most expensive place in the US rn. The idea is to not spend an extra $2k a month just cause u got a raise for $20k a year, that’s when it starts to get unsustainable. She could spend $7k a month and still be mad chilling cause of her spending/saving habits.

[@DJJayWhit]

Her story was kinda um…..hard to believe

[@ClaxtonBay123]

Nothing hard to believe about it.

[@DJJayWhit]

@@ClaxtonBay123 she say she spends more money on her dog than food for the month

[@laurensimmons1926]

@@DJJayWhit The groomers alone cost $70 x 2 a month

[@IanFleming808]

She's waiting for another crash.......Graham. Just because you got into Crypto at overvalued levels doesn't mean she does.

[@cesarjavier701]

Get her on the podcast to find out why she doesn’t want to invest in crypto! Investigation time!

[@DillanY26]

Cost of living is crazy there😳

[@TheGrahamStephanShow]

:/

[@JasenF]

Facts, it’s one of the most expensive cities in the U.S

[@patmarek1222]

But in general its inflated by people's lifestyles. LA flashy, i am s star living is clearly a thing. Graham must have stood out like a sore thumb(nail)

[@NoName-sp5dp]

@@patmarek1222 non flashy ppl are still broke

[@idontlikethehamiltons318]

@@NoName-sp5dp 🤣🤣

[@TechTribeCommunity]

Just a guess, but it’s possible that many floor traders don’t invest in the stock market because they’re already highly exposed to it through their career. If most of their income has to do with the stock market, it makes sense to diversify their net worth into other asset classes!

[@themattrixrevolution]

Millennials Money... living an hour away from Los Angeles, making slightly over $30k.

[@jeffrounsville4961]

I’d like to personally see if I could find out the trouble with living on 650k

[@lolad6083]

For safety reasons Graham let's not speculate/investigate EXACTLY where she lives in the vid. I know most men don't have to even think about things like that but women most certainly do.

[@Mmmkay..]

Men think about things like this quite frequently …

[@lolad6083]

@@Mmmkay.. right just like in this very video *rolling eyes*

[@teilaboston3674]

My thoughts exactly!

[@laurensimmons1926]

I live in Brentwood

[@lisar.271]

I watched this without you and felt like I was cheating. I’m sorry-I’ll never do it again; I didn’t even enjoy it! I was just bored and tempted and gave into my weakness! 😩

[@elmeraraniva9370]

🤣🤣

[@realpainediaz7473]

@Lisa R you fine!

[@ReyHaynes]

I actually think, the 95% of brokers that she mentioned do not invest in the stock market, actually don't want to bother with the regulations involved with them investing personally. The rules are VERY strict for stockbrokers due to insider trading potential.

[@fatguy9]

$200 a month on her pets? And $165 on food? Somethings not right

[@bt2598]

Good point…

[@kcockbur]

If she’s cooking for only herself I can see that

[@NoName-sp5dp]

It's just herself

[@relly793]

bingo

[@pantherfinn]

Believe it or not, some people like living in LA, despite the taxes. Rather pay that premium than be in Texas or Florida for a number of different reasons.

[@leahmcdermott4189]

Lol, Graham cannot fathom that concept. All he sees is money 😭🤑🤑🤑🤑

[@Ndasuunye]

@@leahmcdermott4189 I'm with him. Cali is just a vacay spot. If I could, I'd be a snowbird in ATL

[@AmandaVieiraMamaesouCult]

California is overrated

[@rimun5235]

I left Florida and no amount of tax savings will make me go back.

[@MsBonnie7777]

I am thinking that the traders aren’t buying stocks is because they are so heavily supervised by Compliance ( need permission for every trade ) they don’t want to deal with it.

[@FinancialFreedomMadeSimple]

She's an amazing person. So inspiring!

[@kenneencail]

I think when she said 95% of the men on the floor aren't investing in the stock market she meant the "stock exchange" to be more exact. I'd be willing to bet they're investing, just in different places and way I assume you eventually become so connected and network enough on Wall street that you invest in company's that haven't gone public yet.

[@chasityrosa3591]

I think that there might be some regulations or company policies that bar/limit traders from investing in stocks personally

[@trevorj7323]

There is. - Speaking from experience

[@jeremyhamilton1992]

Yes. Graham with another one. My day has been made.

[@psp785]

CNBC is capping hard for this girl 12k working on Wall Street nonsense

[@cheerios4canaries]

I'm so proud of her accomplishments!! What a baller 🤩

[@debrafirestone861]

She’s just 27 and she is making what she makes is fantastic

[@ogunsan]

She’s not only beautiful but really SMART. Stay away from Crypto. It’s fools gold 👏🏽👍🏽

[@nmorris212]

The reason the people on the floor don't invest is likely because they have contractual obligations to not invest independently. That seems to have been sold to some people as a reason to not invest. The reason wall street investors are contractually bound to not invest independently is that they have knowledge of their own fund's investments.

[@z.k.7472]

How was that 12.5k a year possible? Was that the minimum wage back then or was she working only part time? I’m not from the US, but based on the videos I’ve been watching for the past few years my math is not mathing up😅

[@lovealwaysjasmine]

I was waiting for this. She is killin it!

[@TheTeenageInvestor]

Hi Mr.Stephan! I started my own investing channel at 15 years old because you inspired me :) Thank you and have a great day

[@stefancoban59]

Lol no sane person would take financial advice from a 15 years old

[@stefancoban59]

@AYAN ESAN KHAN yeah but I would not take any advice from u seriously.

[@TheTeenageInvestor]

@@stefancoban59 yeah I agree! So that’s why I teach about certain topics instead of giving advice :)

[@TheTeenageInvestor]

@AYAN ESAN KHAN that’s how it’s done, nice job man

[@SlangScientist]

Not surprised by that 95%. I'd say a similar percentage of real estate agents don't invest in RE either.

[@Anothertruecomment]

So worked for a little bit for the NYSE making $12,000… and now she has enough “credibility” and “experience” for her to sell “finance courses”

[@hassyam436]

Didn't get it too? Is it easy to work for NYSE? Like Without master in Finance ? I'm confused

[@vovanminh999]

@@hassyam436, no i can buy a place in stock exchange and trade the market if yoi have money. That's most people doing now.

[@laurensimmons1926]

Do I sell financial courses ??? I had no idea.

[@Naomi-xu4hq]

@@laurensimmons1926 it’s crazy because the man reviewing your income legit makes a huge portion of his income selling courses but his fans get crazy over courses that you don’t sell lmao

[@griot1722]

I think its 120,000 i don't know why she was saying 12,000 in the video

[@shujaaht]

she called the crytocurrency part >.>;;

[@henrybarnacle2034]

$43 per month on utilities. In Los Angeles... A lot of these numbers don't make sense including that she started at $12,000 and now makes $650,000...

[@teilaboston3674]

I'm sure the videos before this one explain more about how she made that leap

[@pinkcandytang1121]

My Comcast/internet bill alone is more than $43

[@paolaanimator]

I inspire to be like her, I wonder how she made it to be earning $650K? Proud of her! I also like the mentality of earning more money but still keeping it within her budget and not overspending.

[@pawelzabicki7785]

$3.800 for rent, CA is crazy, but still I want to move there.

[@endlessawareness]

Hay House is a book publisher for many self-help/health related books.

[@LandoSuccess]

Geesh since I’m married and Graham is in a relationship JACK!!!!!!!!!!! Cmon man I know a wife when I see one 🤣🤣🤣

[@adeniyiseriki461]

Fantastic you reacted to this. Next up have her on your Podcast.

[@TeKeyaKrystal]

i clicked on this from the suggestions after seeing the girl's face in the thumbnail.. haven't watched your video yet , but all ima say is that girl could NOT have been telling the full truth .. i live in L.A. , and ain't no fcking way you're eating shrimp and salmon & giving your dog the leftovers in L.A. and spending less than 200 bucks a month on food .. girl bye

[@blackbutterfly233ify]

Maybe for you but thank God you don't speak for everyone

[@lucidchaoscreationsuk]

Hellllooooo from the UK! I send my kids links to your videos so they can learn about finances. I was never prepared for adult life by my parents, and it's been hard learning everything by myself. All I want is to do a better job than my parents did, amd break the cycle of emotional neglect, so thanks for helping me achieve that!

[@noahremnek3615]

Put money into your ISA you won’t regret it when you turn 60

[@lucidchaoscreationsuk]

@@noahremnek3615 thank you. I'm clueless when it comes to stuff like that. Any links to good vids about retirement in the UK would be appreciated 🙏

[@MillaExplores]

She's doing amazing! So inspiring! And this video finally convinced me to invest in crypto myself 😂

[@danielh377]

Oops

[@JHayler7]

I think the problem is not everyone can afford to take a low paid job just for the experience.

[@lucerocastaneda9497]

It sounds like she didnt realize her peers were making significantly more, and when she found out she joined them. The part where she says this was cut from Graham's video but if you watch the original she mentions it

[@yakster87]

Just reading the title, I’m struggling to see the problem…😅🤣

[@TheGrahamStephanShow]

No crypto :(

[@yakster87]

@@TheGrahamStephanShow say it ain’t so…

[@Areweonfiya]

how TF only spending $150 a month on food in LA?

[@abualzuaree]

My thoughts exactly

[@dimerocks48]

Graham I’m not taking $12,000 a year because I cannot live off of that on my own

[@dimerocks48]

It would be my ego to try and tell me I can

[@tiagopaim3060]

This woman is going on back to back dates to eat for sure. 165 on food is not even possible in my dirt cheap country

[@mginfocus]

They all invest in hedge funds which most people don’t have access to. That’s why 90% of them don’t invest in the stock market.

[@angelisms]

Great video Graham!! Hope she's on the podcast!

[@danielh377]

I hope that the woman who became the youngest trader on the NYSE didn't take your investment advice.

[@DJSeMtEx28]

Can't work and remain on welfare until I'm 70 years old can't afford a house or a apt and bothers me this country is going down hill

[@GaryCruz]

When I first followed you, you were against Bitcoin, nice to see you have had a change of heart after learning about it.

[@Stealther]

Her budget numbers don’t make sense

[@gunnerhaas]

Graham makes me feel like I'm entirely too broke for someone whos never had Starbucks or avocado toast.

[@stones187]

Would love a video on how you store your bitcoin. I hate that I either have to keep on platform (i.e. coinbase) or worry about a ledger/keywords that I can never lose/damage. Just stick with GBTC? I'm sure many have this same concern.

[@AmandaVieiraMamaesouCult]

You should see a channel specialized in crypto.

[@kmque3166]

Not everyone wants to move to those no state tax haven…maybe her money moves must be done in Cali 🤷‍♀️

[@leocaldararo2869]

Would absolutely love to know how she survives on $5.50 a day in food… in Los Angeles….

[@BlackJoePesci]

Try to get her on the podcast Graham 😂

[@rackin9594]

I think she means she's not going to do crypto at all. She just knows its going to become the main form of payment years from now, I think that's what she meant by centralized.

[@aebonstudio7193]

In order to see where some of these people's success comes from you don't have to look any further than their parents.

[@jorgepadilla9945]

Graham "WOWWWWWW" stephan

[@samuelcox5023]

The crypto advice here aged like milk lmao

[@JustGenThoughts]

These are my favorite videos from you!

[@nidhogg6344]

She should get crypot, but also gold and silver.

[@bobthebingbong6725]

Graham and Jack I have been appreciating your content a little extra lately. I like that y’all are not trying to sell us a scammy investing course for thousands of dollars

[@TheGrahamStephanShow]

You got it!! :)

[@JamesOKeefe-US]

Missing the cute animal hostage for the like button :) Love your stuff Graham! 👍 🤘

[@askingwhy123]

The word for someone earning $12,000 per year in NYC isn't "hustle," it's "homeless." This woman obviously has family support. Graham, you're wrong to mock people who need entry-level jobs they can live on.

[@AmandaVieiraMamaesouCult]

What? He literally said did the opposite of mocking.

[@peterveckmen9314]

Damn graham really shilling hard for crypto

[@stevoh5006]

Yup. Hell no to crypto

[@LexBryanTech]

I'm subscribed to CNBC but I always wait for Graham's video of Millennial Money..

[@jpvrmedia3801]

I love it when you use your whiny voice….gets my every time …

[@tonylg3840]

She thinks the same as me with crypto lol

[@delbomb3131]

Shocked to hear you call a car an investment. Even if it's a smarter choice, it's still a depreciating asset. TSLA is an investment, a tesla isn't

[@qwerasdfhjkio]

pretty sure he was referencing his video about when he bought a tesla

[@delbomb3131]

@@qwerasdfhjkio it was in reaction to when it showed her charging bill and he said "she made a good investment". And either way if it's a reference to him buying one, it's not an investment if he bought one too 🤷‍♀️

[@ereyes621]

I think the traders on the floor aren't allowed to invest in stocks their clients invest in, since it's a conflict of interest and that's probably why they don't.

[@elie__antonios]

me watching this and being 80% in crypto and 20% in stocks

[@TheGrahamStephanShow]

Uh oh

[@elie__antonios]

@@TheGrahamStephanShow yeah being 18 could take some risk at the beginning of my investing journey

[@Slypooch]

California is probably taking like 80 % of that mill

[@rjsmusicstudio4716]

You need to react to nurse to riches there is a nurse that made 800k a year. KZbin channel called nurse to riches.

[@BrezzyBoi33]

We got to stop profiling KZbinrs on these

[@vovanminh999]

She's a trader, and she knows that most of crysto are scam.

[@BlimpCityFeeder]

To be honest, she avoided the pitfalls or having a dependent mouth to feed on her own, no commissary payments to boyfriends or family members who can’t get right. No alimony, no child support along with exes who held their own vs dating down. Happy for her. I think she’s waiting for FDIC protections before jumping into it. They could be stock traders who got by being less than honorable with their investors.

[@nicholasbilaniv9647]

What a weirdly racist remark

[@BlimpCityFeeder]

@@nicholasbilaniv9647 Who mentioned race? You should see the models and others across the board on the Visit Floor paying commissary on dudes behalf. Last I checked some families are more like 'The Connors' than '7th Heaven'.

[@nicholasbilaniv9647]

@@BlimpCityFeeder would you make that same comment with a video about a white person? I don’t think so

[@BlimpCityFeeder]

@@nicholasbilaniv9647 I would for anyone with Working Class/Lower Middle/Middle Class Roots.

[@AmandaVieiraMamaesouCult]

@@nicholasbilaniv9647 you are the one being racist pal.

[@user-12428]

I do not understand how she is making so much money? By podcasting??

[@AbiTheEngineer]

Centralized crypto defeats the whole point LOL

[@asafrost]

1:16 that is basically minimum wage, $1k a month is livable for none, are you mocking people for saying they’re worth at least a livable wage. This is cringe

[@nurdychick13]

Can we pls get an iced coffee tutorial

[@nurdychick13]

It always looks so perfect

[@fadumoomar8099]

LA is crazy

[@davontawilliams3958]

Maybe because they know the stock market is a scam !

[@karinasmood]

I purposely didn’t watch this one because I wanted to see your commentary first 😂

[@KayLoveNYC]

That caramel macchiato is a waste of money. As I’m legitimately drinking a caramel macchiato 😔 (hides face)

[@jessy3038]

What’s your opinion on the environmental impact of crypto?

[@caesaraugustusmaximus]

It's fud created by those who don't like decentralized currencies and by climate change extremists.

[@marcusrigg3732]

Only really relevant to BTC. Most crypto’s are now proof of stake and not proof of work. Proof of stake is much more energy efficient and barely has any impact on the environment