This Millennial MAXED OUT 6 Credit Cards

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[@CalebHammer]

Alex is a good dude, I really hope he buckles down and cleans up his debt!

[@PriscillaYoshida]

Thanks Caleb for the amazing content and lessons! I am glad you are getting more recognition! You remind me of my mom who has the same mentality/personality when it comes to finances and financial literacy* I feel really good about being frugal with where my money goes now. Isolating but liberating

[@lorenebonsu146]

@@KosherFinance Do you have a problem lol?

[@TVHouseHistorian]

@@KosherFinance a sphincter says “Excuse me?”

[@neo_cavalier]

Didn’t seem like a good dude to me. His situation is entirely on him.

[@llallogen7380]

@Neo Cavalier Foolish doesn't have to equal bad person. He is making some dumb decisions that put him where he is, but that's not evil. Hopefully, this was a wake up call for him

[@KurtisB]

I love Caleb’s audits. They make me feel so much better about my financial situation. 😂

[@TheWealthyIdiots]

Lol same reason we love Caleb 🤣

[@herbsabeast1]

You don't see to many kurtis with a k. I had a private education and one of the best classes that everyone should have to take to graduate is home economics. No not cooking and knitting, but learning how to balance a checkbook learning about credit scores. learning how to calculate car payments , and also how to make sure to have enough to budget for expenses.

[@krampus3901]

With all due respect, if you look at his facial expression and body language, he seems entitled, arrogant, and won't take responsibility for his own life...always an excuse and someone else's fault.

[@jaydubya9265]

Go watch the latest one with Gram’s podcast mate.

[@KurtisB]

@@jaydubya9265 I’ve seen it. Been watching all of Caleb’s videos for a while now. Love his channel.

[@readylauretti]

I was on the show a few months ago. Getting hit hard by Caleb was a wake up call that I desperately needed, and now I’m using his advice to better myself. Credit score is already up 30 points because of it!

[@mikellyartisan1384]

That’s great! Keep going!!

[@NickOloteo]

how did you get on the show and what did he ask you before hand? Did you have to pay to be on the show?

[@readylauretti]

@@NickOloteo nope! I emailed him with some goals in mind and my job,age, where I lived. He got back to me in a few days. This was when he was around 30k subs so he’s popped off since then. There’s an email in his KZbin bio

[@readylauretti]

@@mikellyartisan1384 thank you!

[@NickOloteo]

@@readylauretti I just found his channel so I have a ton of videos to watch. I’ll keep an eye out for your episode

[@ZinqHerder]

At 23 he wouldn't be a Millennial, this kid is Gen Z.

[@DailyRants89]

Thank you! Why do people keep saying Millennials for young 20 something year olds?

[@droid2D2C3P0]

@@DailyRants89 it's trendy to hate on millennials for everything 🙄🙃 Ugh

[@MichikoHoshi]

@@DailyRants89 A lot of people born between 1997-1999 thinks they are millennial because they have a misconception that the cut off is before 2000.

[@DanielQRT]

​@@lakctalks2818 that makes me feel old and i'm only 18

[@laddiebuggie8018]

@@MichikoHoshi the forgotten generation 1996-2001

[@tamick2000]

The reason they don't teach finance in middle school is the kids would go home and school their parents. The parents would flip out. I have been teaching my daughter but I tell her to be careful because a lot of people are making really bad financial decisions and will be offended.

[@laurennichole161]

I was taught finance in my freshman year of High School in Michigan 👍🏻

[@Squintillions]

My son had a finance class in middle school, though it was an elective.

[@dcg590]

The US govt does NOT want people literate in finance. They will lose control if people actually knew about money.

[@soapygirl83]

The kind of frustrates me is that so much of the math is so remedial I think part of the reason why it's hard to justify teaching it to middle or high school because it's like fourth or fifth grade math. I'm going to show my age here but when I was in 4th grade my teacher taught us how to balance our checkbook

[@jessicapeyton5444]

Hey I’m in my late 20s and I also learned how to balance a checkbook in 5th grade ☹️😂

[@HeyitsMarioDiaz]

We need the reaction to Jacks appearance. The world needs to know how Graham feels about the burger throw down, and his feelings on panda kitchen. I’m team jack, in n out for the win!

[@meggggg]

And his daily Starbucks secret lol

[@LOLZHAHANOTFUNNY]

@@meggggg I was shocked Jack just orders drip coffee with half and half! Sooo simple like he could make it for so much less money! 🙈

[@meggggg]

@@LOLZHAHANOTFUNNY Yesssss hahah that part made it so much worse! I thought surely it had to be something way fancier! 🤣

[@soapygirl83]

Panda Express is also so so so mid.

[@DJ_CRIZP]

Dude, Caleb bout to blow up. Found him around 20K. Hopefully this gives him an even bigger boost.

[@Devinn504]

Same I’ve been subbed to him since 14-15k, but It has. When graham first posted him he was a little over 50k

[@BornToBeEmerican]

The recommendation on getting a second job should have included that he should aim to be a barista (usually flexible hours) and depending on where he works, he'd save on at least a coffee for the day he's working. 😅

[@jdrancho1864]

His perfect job would be a warehouse security guard. Plenty of time to do homework between rounds. Nobody there to interrupt you/

[@staciii]

How is he a millennial at 23 when I'm Gen Z at 26??? 😂

[@teoleno4019]

This old Boomer just loves to blame everything on Millenials. One thing I'm glad about is, we Millenials are not having kids or any future slave labor.

Can't wait for Graham to watch and roast Jack's audit with Caleb!!! 😁

[@brettbonine7194]

Make Jack edit and post the video for him too haha.

@@brettbonine7194 hahaha I'd like that too

[@drewo6388]

Thanks for turning me on to Caleb's channel! Yeah the financial state of the average American is quite sad. So much unnecessary spending on dining out, coffees, takeout, etc among many of Caleb's audit subject. Absolutely nuts how frivolous people are with their spending and oblivious they are to their financial situation.

[@PatricksFinanzen]

Sad? It’s totally messed up beyond common sense!

[@coolthings_1]

Its such a vicious cycle Go to college Rack up debt Have to work more hours to make up for that debt Less time to cook, so you get take out cause it's convenient More take out, more debt More work hours, rinse and repeat

[@BoldestCorey]

People get caught up in the moment and want to do what feels good like eating out and getting coffee but they're not thinking of the long term hardship and debt, in the moment they're thinking "this makes me feel good so I'm gonna do it" they don't really care about the consequences in the moment they are splurging. You gotta have discipline to tell yourself no to things and really use your brain even when depressed. Not everything that feels good is good for you. Use wisdom and live wisely

[@Courtney-Alice-Gargani]

I love how he's getting ROASTED, living beyond his means. There is no need to live like this. He's digging his own grave financially. He has to change his ways. PBJ sandwich, cup of noodles, make his own coffee. He can get Graham's coffee He can get out of 30k if he wanted to just planning and discipline.

[@lankdup]

i found caleb through your channel, really helps you open your eyes on how spending w/o budgeting can really set you back

[@CalebHammer]

🥰

[@luckycatsfarm]

Having been a grad student, there is not really that much time to get another job. He could maybe pick up a few more hours teaching another class, or maybe he could work at a cafe on campus (free food and coffee!). I am surprised no one has suggested he move to a cheaper apartment or get a roommate to split with.

[@MaRyAnN14love]

There are too many corporations profiting from people's debt and bad spending choices for the government to want to do anything to educate them on it.

[@saraivasquez8218]

I was WAITING for you to do this!!! I just found this guy this weekend

[@TVHouseHistorian]

I agree. Caleb is amazing.

[@MadisonFalcoFoods]

Me too! I love how brutally honest he is because a lot of people did not get that growing up and some people need some tough love to thrive

[@ronaldhunter5894]

I think it might be a bit of depression. Honestly, I was in the same issue. Then I realized everything matters and if i want to get to a place I must play the game even though I know it's a sham. Also realizing that it is based on where you live as well.

[@olivia4087]

I'm addicted to Caleb's financial roasts Lol they kind of make me feel better about where I am financially

[@wNUG]

They make me feel better about where I am but also make me realize that I need to get my finances straightened out before I end up in one of these peoples positions it’s like scared straight for finances 😭😂

[@jonathannerz1696]

I view debt similarly to how I view alcohol: a little is ok, but a lot is detrimental to your health. There can be benefits to moderate alcohol consumption (Paul even tells Timothy to drink a little wine for his stomach) just like there are benefits to RESPONSIBLE credit card usage. However, just like some people cannot drink alcohol without winding up drunk, some people cannot use credit cards without going up to their eyeballs in debt. For both alcohol and debt, there is only one answer for these people: complete abstention!

[@georgewashington9445]

absolutely, im muslim and alcohol is forbidden to me and the reasoning behind abstaining from alcohol I apply towards debt and credit cards. there is some application for alcohol and some for debt and credit cards beyond that I abstain

[@daniellemoore504]

He has definitely not hit rock bottom. Especially with the host saying "that's not that bad" that my friends was a green light to him!

[@jostv.2726]

I don't think that schools have to teach kids how to spend money. Teachers are not responsible for everything. My parents started teaching me the value of money with my first pocket money

[@rossedwardmiller]

Glad to see Caleb making it He’s been at it for a while and it’s def time with how good his content is

[@katesstoreshelforganizinga5753]

Our apartment doesn't include utilities.... I find it rare in my experience. Our water used to average between $65-$80/month but with inflation, it's now around $120. We have four kids so I do a lot of laundry, but we haven't done anything different. :( and our electric used to be about $90-$115-ish per month and lately it's been $240. It hurts.

[@joybeavers5945]

Crazy to me that’s the perk of living in an apt I pay only electric max 40/month

[@katesstoreshelforganizinga5753]

@@joybeavers5945 we live in an apartment too and the prices of utilities have almost doubled

[@reesercliff]

these 23 year olds are not millennials they are Gen Z, Us millennials are approaching our 40s now people need to stop thinking millennials are in their early 20s still

[@TeKnoVKNG23]

This guy is hardly the worst of them, anyone who watches Caleb knows about Zeke... Also $200 for utilities is about normal, I'd like to see these magical apartment complexes that Graham thinks exist that include your water and electric, lol. Most places you are paying for water, gas, electric, and internet/cable. A lot of these financial gurus have become out of touch with what the average person has to deal with for expenses. Eggs $6 a dozen and Graham will be like, "Oh that's not that much, you should only be paying like $1.50 for that" lmao.

[@maddiebeeles9363]

Zeke’s situation makes me feel so much better about myself

[@jessicadelbozque4252]

He might not be allowed to work a second job per his TA agreement - it can depend. But he should def look into food banks and see if he qualifies for food stamps while he finishes his program.

[@monique900]

I went to UT for undergrad and when I was offered student loans, it shows you the interest rate upfront. I don't know what this kid is talking about "not knowing" his interest rate. He's either withholding or not paying attention.

[@ndemafiatazi]

Hes not a millennial if he’s 23 he’s gen z

[@NorVack]

Dude literally every time I’ve ran out of ideas on what to watch, your notification of a new video pops up 😂haha perfect timing!

[@randomaccountmadeyup]

I just don't get why people go out for coffee everyday. Buy a coffee maker for like $30-$45. That's going to pay for itself after a few uses.

[@mercyfae17]

This is a wake up call that I needed. I’m in CC debt myself, but because I didn’t set aside enough for rent/wasn’t earning enough to pay my half.

[@AbiTheEngineer]

He legit gets paid to get his masters LOL Him taking student loans when he has no reason to defeats the purpose of being subsidized

[@TioMogi]

Caleb's videos are like Jerry Springer of the financial side of KZbin 😂

[@trekmaniamb]

Why is 200 a month in utilities surprising? The vast majority of rentals DONT include this, and water and electric can easily hit 200 a month

[@undefined7463]

Funny part, some colleges do teach this, but you need to really bomb math class to be directed to those classes because those are the “dumb” classes. When I took it, I swear I felt like I came out of that class better than my trade specific classes. Taught mortgage, simple interest calculations, interest vs. principal payments and how to do that, budgeting, and more, in that “dumb” class. Better than trying to find out what a theoretical answer is to a question that will only prove your “correct” answer devastatingly wrong.

[@MusicNerdMIDI]

I think there's a common mentality among young people going to college that they are guaranteeing themselves a high paying job in the future, so they take a lot of debt now and hope their "million-dollar job" will pay it off easily.

[@TheBlindAndTheBeautiful]

You know it is funny. I just hit 30 and it scares me that I have affectively no debt yet came from a poor background. The hustle is real folks. People thought my room mates and I were rich in college because we did weekly taco cookouts at home and would have things like good stakes and ribs from time to time. We shopped smart and together to split the costs. We split costs on almost everything and picked up a bit where the others may fall off. It kept us all out of financial hell as a result. We helped each other stay above water and heck even have a few comforts in our 20s. And today none of us have debt because we all stayed on the grind and said we would give a bit now to get much better piece of mind in the future

[@terriplays1726]

The entire food game changes once you realise that for the same price you pay for shitty fastfood and deliveries, you could treat yourself to some good stuff from the groceries.

[@JoshHitti]

Caleb is the man. Pumped that he’s getting the notoriety

[@LIVEINPEACE2023]

Apartments very rarely include water, etc. It includes just the apartment!

[@stickykitten3902]

I hate to say it, but I much prefer the 15 minute run down by Graham, to the hour long videos by Caleb.

[@KateGoldauthoress]

The problem is that grad school is hard, I can understand that the kid is just trying to get by emotionally. Could be emotional eating or "retail therapy". I see you, I get it I am a grad student too. 60% of my income goes for rent and I live in some cheaaap housing.

[@maciejkatarzynski6833]

In bigger cities in Poland, rent is about 70% of the average income. So you live for 30% of what you earn.

[@Mr.Rogers91]

We used to have home economics in school, but they did NOT teach economics. We need a life economics class in schools where we learn APR, stocks, mortgages, credit scoring system, etc.

[@Ullrs.Hunter]

This person is Gen Z, not a Millennial.

[@michaeljorgensen1984]

This vid Makes me feel good as a 19yr old about having my own place, my race car and my daily, gainful employment, No student debt, and still have enough left to live normally. Grateful I was taught to be smart 🤞

[@mikel2976]

How tf bruh I'm 19 and have no job 😐

[@michaeljorgensen1984]

@@mikel2976 made personal sacrifices to get better at my job and at a quicker rate and shifted my mindset. All it takes is work ethic it doesn’t just magically happen.

[@michaeljorgensen1984]

@@mikel2976 just pick sumn and get good at it

[@Celtic_Amy]

If he’s a Graduate Teaching assistant that’s why the pay is low as it’s supposed to cover tuition. So why would he need student loans. $200 seems high for electric. $950 in 2023 is cheap. I rent a crap apartment years ago who now charges $900 plus electric.

[@thedopplereffect00]

People need to learn the joy of making a hot cup of tea or coffee at home.

[@Open.Close.]

Try getting by in SD on 2100 dollars a month. I love not knowing if I’m gonna be living under a roof month to month!

[@joshuakelly9743]

What’s missing to me is his “why”. He needs to have a compelling reason to make the sacrifices he knows he needs to make.

[@vondahe]

You wonder why a purple-haired they/them with a pearl necklace doesn’t understand what “sacrifices” are?

[@xhezmijakupi1995]

" Millennials who are really, really really bad with money " and then he shows Jack hahahah

[@rcg224]

Caleb effectively changed my life . now I'm budgeting , investing, saving. and have an emergency fund. I have a plan now . before I was so lost

[@Amyreadingabook]

used to teach middle school we do teach interest, but at the time what 13 year old really understands compound interest? I remember doing tons of 'fake budgets' for when I was in middle school and high school, but again not understanding it. I would say sure It only takes $100 for food to last the month. It takes time for the brain to develop to understand it.

[@VioletBird]

Love you and Caleb financially keeping me honest 😂

[@Imwhey]

This dude just needed to get a coffee maker amd go to Costco for the food

[@kikitauer]

Yes! That's exactly right, we failed in teaching people about money. We should be teaching basic economics in the primary school. I was failed miserably beyond compare. I knew how much interest I am paying but I didn't know what it means. I was charged 2% p.d., biggest mistake of my life and probably outshining many other people's mistakes. The fun part is that I took the contract to my lawyer friend for the review and he let me sign it. Thank you to Graham and Chelsey from TFD because they helped me so much it is unreal. It is not only the education, they helped me to change my money mindset and opened whole another world to me.

[@juanbermudez1321]

Basic economics isn’t finance. Those are two different fields. But the two are important to understand how to live life comfortably.

[@kikitauer]

@@juanbermudez1321 Yes! Thank you for correcting me. I am not a native speaker and I felt like this word isn't right but I couldn't find the right one. Also agreed, both are way too important to silently disregard in schools.

[@jdrancho1864]

I find the fact that your lawyer friend didn't stop you from signing that contract worrisome. Could it be that your friend's education is so specialized and limited that it is to the exclusion of sound finance??

[@kikitauer]

@@jdrancho1864 Honestly I think he wasn't as a good of a friend as I thought. He probably didn't look at it very hard because he didn't have time and didn't really care. He is a corporate lawyer so he should know what an interest is. I find it worrisome as well, that's why he's not my friend anymore.

[@chriswhetton3584]

Private college is stupid. I paid 20k for my bachelors (would be 30k now) and was able to work my way through. I got in to a top program alongside people who spend closer to 100k. I graduated near the top of my class. His situation looks like a lot of my single classmates in graduate schools looked like lol. I had a wife and a newborn and spent a fraction of what he did (and they did) despite having three mouths to feed lol. My income was similar as well

[@CastroMKE]

I know this is random, but this dude isn't a millenial. He's GenZ. The cutoff year for millenial is 1996. So, 27, 26 years old (for any birthdays after today) is the minimum age.

[@Sam_Stanton]

These would be soooo much worse in the U.K. 😅 I have friends who make £750pm and have -£2,000 In credit It’s chaos

[@Troonielicious]

The education system is geared for you to not know about debt because it is convenient for banks and credit card companies

[@mrs.natashaellwood8634]

My husband makes $3700/month working for the toyota factory... absolutely no education needed....

[@i123456987654]

Parents AND schools are responsible for this but yeah, you’re right, many parents don’t know anything about finances so unfortunately, schools have to take on this responsibility and teach kids about finances

[@cottoncandiez8872]

Most schools DO, teens just don't pay attention to it. Many schools require a personal finance class, but you can't teach to people who don't care

[@richardreyes6119]

You know how hard it is to live on 750 a month in a active Society. In NYC you’d starve to death or slowly go under water, even grocery shopping sometimes comes to being more expensive then just eating out

[@LRG_XP]

It’s funny when people say “they don’t teach some of these things in school” because it is most likely that us as students never paid attention. I remember our math teacher trying to teach us about interest, investing, etc but kids in class were too busy roasting each other and trying to hook up with girls.

[@leopassion1990]

He actually has people from different generations come on his show. The guy you’re talking about is Gen. Z not a millennial.

[@big1cam]

I’m 31 Middle school- we did a project where we rented or purchased homes, cars, etc… the entire second semester in social studies. It was 50% of your grade, and you had to have a positive balance at the end. High school- we had an economics class that taught us the ins, and outs of the banking system. I went to public school in Tennessee. Where is everyone else going to school where they aren’t teaching these things??!!!

[@annaelisavettavonnedozza9607]

I really don’t understand the comments like “so & so makes me feel so much better about my situation.” I get that it’s tempting to take relief in the magnitude of other people’s situations, but it’s a pretty immature way of looking at things. Could it be worse? Yeah. It could be worse… Guess what? It could be better. Somewhere out there are people doing WAYYYY better than you, too 😂. Stop feeling so smug. Your debt is still debt

[@hannahl5306]

It's funny how calm Graham is when watching Calebs content. Such a contrast to his other reactions.

[@identifiesas65.wheresmyche95]

674 is not even that bad. I've never missed a payment in my life and I'm still only in the 720's. I did carry quite a bit of debt for a while but it seems hard to get above 750 or so.

[@Ol_red_beard_maintenance]

I also just found his channel last week. I feel bad for people.. kinda lol it makes me feel better about my self watching .

[@lorenebonsu146]

Thank you so much fo influencing people finically graham, you have helped so many teens and young adults. We love you !

[@round3r86]

As a teacher, we have sooo many annoying standards to be focused. Cancel several and we can talk about a basic class on finance.... BUT it will only matter if they parents are on board, since most of my students just default to the bad habits of their parents...

[@shaereub4450]

You need to react to Jack's audit episode next. Please Graham! Your viewers NEED your thoughts and reaction on it.

[@noelleguinn7744]

I think there needs to be more discussion about the emotional spending. Like you said, he knows what he’s supposed to do. But for this guy it seems so much about the emotional side of spending that has not been addressed in this video.

[@sillykaboosey]

I re-subscribed because you reacted to Caleb's channel. He has awesome content and deserves the recognition! Thank you!

[@Courtney-Alice-Gargani]

I think over 65% Americans are bad with money. $2100 is nothing. It's so easy to max out a credit card. Go buy stuff online or to the shopping mall and it's maxed out. Hahah.

[@whyme7996]

that is a Gen Z not a millenial

[@RobertGM11]

The point of most grad school is to advance human knowledge, not to make financial sense. If we have an economic system in which smart people have to choose between being a grad student and creating new research vs being debt free, that's not a failure of the grad student. That's a failure of the economic system. To be fair, this guy has made a lot of horrible financial decisions, but I don't think the fact that he is a grad student should be counted against him.

[@tracy_cakkes]

I agree He does need to stop spending money on coffee and takeaways tho

[@lammykll]

At 23 in 2022 he is not a millennial. Gen Z is tainting the millennial name even more.

[@Tomakri15]

I wanna see graham’s reaction to jack spending on Starbucks 😂

[@homeboi808]

8:00, many schools do. I teach one, most kids just don’t care, even ones that have jobs and file taxes and will get kicked out of their house when they graduate.

[@trampledbygeese]

Can someone get this guy a thermos so he can make coffee at home.

[@imenehaddad2860]

That's a gen z not a Millennial. We don't claim him

[@MadisonFalcoFoods]

Most apartments in Austin do not have utilities included :(

[@katiewillson7759]

I'm 21 and have a substantial amount in savings. I do not have a credit card yet on account of making sure I'm financially stable first and can afford to pay everything such as rent, food, insurance etc. So I know when I do get a credit card I will not be dependent on credit to afford my lifestyle. I'm able to save about 60% of what I make.

[@mmontero15]

Millionaire mindset. Hell yeah

[@jasonparker4465]

That guy needs to be introduced to Folgers.

[@kathleenmusiak1369]

So stuck rn tbh I’m trying so hard to get out of the debt I gave myself out of high school but I just can’t make enough to keep up it’s gone before I can even budget so behind and so scared tbh his videos are so helpful and I see other people do that

[@TheBlackLionTv]

Lifestyle baby It doesn't matter how much you made if you had bad spending habits. You basically done

[@shortfusedynamite5166]

This is why our country's study debt holder population wants their loans canceled. They're drowning and don't know why. It's horrible.

[@Agent765]

Just for reference I live in Michigan and electricity is normally not included in rent and my electricity is around 170 plus internet so around the same

[@ptmaica3378]

I love this channel now. I was literally looking for a channel with bad debt! And I’m obsessed!!!

[@samsmusichub]

I don't think people who are bad with finances don't know how to do addition and subtraction. I think they just have poor impulse and emotional control.

[@mmtech4114]

Great advice,first try budgeting with a debit card and afterwards try to credit card

[@Notourtube]

This is what you used to do in the beginning…

[@Ohmygodgetalife]

I did this also... I'm like 80k in debt when I could've been around 30-40k. I got a really good job right out of college and I've been there for two years in June, but wow I hate myself.

[@chriselias3881]

1:05 he doesn't have a graduate degree. He said he's a grad student. That means he's working towards that degree.

[@MichikoHoshi]

Alex gives off the impression that he is going through grad school because he wants to extend his college life a few more years. I refuse to believe a guy going through grad school is incapable of learning and understanding personal finance. He is just willfully ignorantly and avoiding his problems.

[@cerebrumexcrement]

u cant expect people to know financial responsibility if they cant even do basic k-12 math.

[@thegoldenplayer827]

I have a 2nd Side job. Instacart. I’m 25 with a savings finally. 2nd side job helps a lot honestly.

[@TheWhiteMamba3000]

Debt isn't bad; unmanageable debt is bad. A lot of things can be handled by simply making a budget. Usually, when people see what they are spending, their whole attitude changes. I know a lot of people that pay all their necessities and if there is any money left in the bank, that is spending money. They never look at their bank statements.

[@CompoundInterest1982]

Debt prevents growing wealth. It's definitely not a good thing. Outside a mortgage, debt is keeping you behind. Gotta plan for the long term

[@TheWhiteMamba3000]

@@CompoundInterest1982 The whole financial system is built on using debt meaning debt = money. All millionaires and billionaires use debt on the regular. There is a saying, "Buy, borrow, die" meaning you buy an income-producing asset, put it up as collateral, and use the debt as tax-free income, since the asset pays for the debt and when it is paid off, you repeat the process until you die.