Kevin O’Leary Reacts: Living On $515K A Year In Berkeley, CA | Millennial Money
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- čas přidán 26. 06. 2024
- "Shark Tank" investor Kevin O'Leary reacts to an episode of Millennial Money, featuring Sahil Mehta, 25, who lives in Berkeley, CA and earns $515,000 a year as a real estate investor and developer for Golden Gate Sotheby's. Sahil and his brother Suyash own five properties in the area.
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It’s hard to find fault with many facets of Sahil Mehta’s finances.
At just 25, he’s earning $515,000 a year between his full-time job as an executive assistant for a real estate agent at Golden Gate Sotheby’s and operating five rental units in his spare time in Berkeley, California. He saves a healthy portion of his income and keeps discretionary expenses relatively low.
He’s impressed Kevin O’Leary, O’Shares ETFs chairman and judge on CNBC’s new show “Money Court,” who watched Mehta’s financial journey with interest.
“Twenty-five years old, living on over half a million dollars a year. That’s not really that hard to do,” O’Leary jokes.
That said, some of Mehta’s money moves can be adapted by just about anyone who wants to better their finances. A big one: contributing to an individual retirement account. Mehta invests $1,500 per month, but most financial experts say to aim to invest 10% to 15% of your income for retirement.
“Puting it aside into an IRA is a fantastic idea because you want it to start compounding at 6% to 8% a year,” O’Leary says, alluding to stock market historical returns, which are not guaranteed. “That’s what you’re putting aside for your nest egg when you turn 65.”
O’Leary was particularly impressed with Mehta’s ability to turn what could have been a source of trauma - his father losing his job during the 2008 recession - into a source of strength. Not wanting to be financially vulnerable in the way his family was during his childhood pushed Mehta to move to California on his own at 16, attend and graduate from college early and start his now-flourishing career in real estate.
Now, Mehta invests heavily in himself and saves around $10,000 a month to put toward future property purchases. He’s doing so well, in fact, that O’Leary has trouble finding fault with much of anything.
“I’m giving him 100%. I rarely do that,” O’Leary says. “This kid got it right.”
Watch the full video to see what else O’Leary has to say about Mehta’s finances.
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10:20 Spot on. Contrary to what many Americans do which is make their kids take student loans for college and fend for themselves once they turn 18-20, many Asian parents will pay for their children’s college education completely so they can put all of their focus on their career. One of the big reasons why so many Asians in America are so successful. Then they pay their parents back by taking care of them until they pass away.
We have been saving for our children’s college since before they were born. Other people are out spending on lavish vacations and eating out while we saved and invested. My daughter received a full STEM college scholarship and will utilize her college savings towards medical school.
It's weird that it's not like that everywhere else.
@@HM-wn2in I guess it's just cultural. Many Americans don't financially support their kids not because they want to hurt them but to make them more independent and responsible.
@@mocheen4837 Wow! Congrats to your daughter! My older sister recently got into medical school and I'm so proud of her.
@@terrasai2857 I go to med school and I had to get student loans but it's alright here in the UK. I know in USA it's tough. Also live at home with my parents. And I have a pretty nice income from crypto.
As Kevin said, he is 25 and has 10m invested with his brother in rental properties. There is no way he could have received the line of credit for even 5 million unless he has significant collateral to back it up. Notice how in his monthly breakdown he doesn't even have mortgage or interest payments, meaning the 10 million in homes are pure equity. Most likely his parents already owned the homes and transferred them into their kids names.
The boys are also young and its odd that their parents are retired at their age. The parents are as old as 55 given the average age that people have children, but they could have easily retired early since they are a doctor and a business owner. Moving the rental properties in their children's name reduces the taxable income of the parents, and the parents most likely can live comfortable with what they have.
Unlike other of these sorts of videos where real estate owners talk about their leverage, in this video it was missing meaning the home are inherited. As Kevin said in the video, he would love to know how the kids are leveraged but it's nowhere in the original video what their lending situation is like.
They did say the crash of 2000 hurt them tremendously
Yea he came from BIG money. crash of 08 must have hurt their million dollar buisnesses but not nearly that baf.
his brother couldve put 8m of that in. Plus with him being in the real estate industry, MUCH easier to get deals
55 years is old for indians. thats why we get pressure to start early. everything in life.
good eye, you're correct.
Keep in mind that this kid came from a background of wealth. It’s a different story if he came from a background of poor parents and really struggled. But he graduated from Berkeley high school, a school where most if not all of the kids parents are wealthy.
Edit: everyone keeps missing the point of this comment. The kid said his family struggled but then mentions he got a large trust fund and a few properties that he didn’t specifically explain how he acquired fresh out of high school. The whole point is whether he actually struggled because struggle for the rich is completely different from the struggle that a average American has to go through.
Yeah, Manny Khoshbin more real than this guy , Manny started from nothing, him and his family lived out of their family car that was donated to them from one of the father’s friends, and now he broke free from all of that to become the guy he is now.
@@SuperEman500 he is an old guy
What? So if you come from a poor family you can’t be wealthy later in life? So if you come from a wealthy family it’s also assured that you’re going to be wealthy?
what? No. This completely went over your head. It has been statistically proven, that children of wealthy parents have a larger percentage of success. Than a middle or lower child. Basically what I’m saying is that this would have been a better video. If he actually came from poor to rich-not rich to richer.
@@Gsuneow Some people are too stupid to understand what privilege is. Don't bother with him.
Very impressive. Let's remember his father was a MD and his mother was a business owner. So Sahil had a great background. Was his family rich to begin with? Did his family's connections help him land that job? My point is some people have greater odds of being in this position than others.
If he took 2 years of college while at high school he has what it takes no matter his background tbh.
This is true but you can amass a portfolio the size of his without the same background but the job could have cherry picked him.
Easy to say than do…my family is rich and I 30 and live @ home 😂
@@adambrackston3471 I think he said he took courses that would be transferable. Basically his time is limited working a job and managing properties so it's a no-brainer.
People who cry all the time and are losers rarely win. His parents arrived in the US with probably nothing and also went broke in the 2000s. Is he oppressing you? What is your excuse?
I appreciate o'leary saying "not everybody is able to do that" when talking about this stuff. a lot of people only have enough to barely survive, so saving 50% of monthly income is out of the question. I like that he's not out of touch with a lot of people's realities. if you're able to do it, then thats great - but so many personal finance folks make it seem like *everybody* is able to do it when that's not the reality.
It is your own fault. Why didn’t you take school more seriously? You could easily have been baking $200K by now.
@@jandersen6802 not sure if you're joking but i'm not struggling by any means, i'm just empathetic to people's situations. a big chunk of people live paycheck to paycheck J, life is not so easy. school does not guarantee 200k per year for everybody not sure where you got that from? are you an american? here - only a doc is "guaranteed" a high salary like this but only after graduating with well over a million dollars in debt.
this person is an outlier and should be seen as such. great inspiration, but saying everybody can save 50 percent of their income is ludicrous. majority of people with higher degrees makes 50/60/70k. engineers start off with like 150k if they're really good, but even they have to pay 500k back in student loans.
@@minismalls3096 The entire idea that people could be making $200k a year if only they'd taken school more seriously is the perspective of a 15 year old that's never worked.
I have an engineering degree in one of the most lucrative engineering fields (at entry - other fields have much higher ceilings) and didn't make that in the few years I worked in that industry. I'm now about to graduate with a masters in finance and the job I signed for isn't $200k (despite the lengthy work hours and the prestige of the position). $200k as a person under 30 is very difficult to attain. I'm 27 now and might hit that number with raises and bonuses between now and then, but it's hardly something the average person could be expected to reach.
By the time you retire? Sure, a well educated person that puts their head down might be able to achieve that. But to think it's something an average or even above-average achiever could do is ludicrous.
@@minismalls3096 hmm, you think doctors guarantee a high salary? study harder.
@@minismalls3096 500k for an engineering degree!! As a fresh engineering graduate, its no where near THAT MUCH.
We work for 40yrs to have $1M in our retirement, meanwhile some people are putting just $10k in a meme coin for months ago and now they are multimillionaires power of digital currency.
wonderful lessons for new beginners like myself. Great details and modeling.
Growing in cryptocurrency requires time and Patience
Hello what is the best way to get started with this cryptocurrency trade because I've been making my personal research for a while now.
@@deanp..sanders9366 .Invest or trade with a good guide is the best way to get started in the trade market. Learnt that the hard way🤨
I'm interested to learn what this cryptocurrency trading stuff is about
I’m not a shark tank fan, but Kevin crushes these videos. Love it. A+
"and he says he's eating well. very smart. very smart." I cannot
Not trying to diminish his success but he’s coming from a pretty privileged background. Dad’s a doctor, grew up in Berkeley, attended UC Berkeley, real estate in a red hot market. He’s really smart and grounded so he’ll be even more successful and I commend him for that. Most of us don’t have the same opportunities he has had-he’s definitely an outlier.
yea exactly, i wanna see him give up everything and move to the Congo and see how he does there.
Y'all trying to make excuses for yourselves? Pathetic. 🙄
@@strangerdanger8462 You can't deny he's had a head start...
That's still irrelevant.. think about how many other "rich kids" that have a head start and still have not amount to anything. It's obvious that he is very driven and level headed so regardless of his parents financial status he would still be who he is today if it was meant to be. Let's stop with the same old BS excuse.
He said his family lost it all during the recession. The kid is smart..
The reason why financial literacy at a young age is so important in every culture. I’m speechless.
Number one thing he did was being born to a doctor and a a business owner . Anyone can do that ! 😉
Aldos Snow na, plenty of folks born into upper middle families who don’t do anything. You’re a defeated loser lol
Having a job that pays six figure also helps you accomplish those goals
@@aldossnow3703 lol being rich is a mindset ,you can be born into a wealthy family and generate 0 dollars.Ive seen people with millions losing everything.This is an excuse for insure people like you to feel superior in a way because you are unsuccessful in life Most millionaires in truth generated their own wealth.The journey from 1000dollars to 100 million is equally commendable as the journey from 100,000 to 100 million.Sad ,our society praises mediocrity and calls successful and rich people evil lol.
@@aldossnow3703 lol what a loser
Most people venture into crypto to be a millionaire, meanwhile, I just want to be debt free
That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to getting rich
You don't make money on forex or crypto by holding your coins rather you trade to make gain.
Assets that can make you wealthy
Gold
Crypto
Stock
Real estate
When you invest in crypto you are buying a day you don't need to work.
Wish I knew about crypto trading earlier.stock is good but crypto is better. Brace up and get yourself a bitcoin before it's too late.
8:09 "Blood is more important than money *sometimes*" lmao
There’s an old saying: “blood is thicker than water, money is thicker than both” that’s probably where they got that and twisted it.
It’s true.
@@albertoj.mollinedo4116 pretty sure they didn't got that from this...
He made him emotional. I thought Kevin was going to tear. Good story well executed. Wish him all the best.
I love when rich and successful people give away real information that’s not trying to sell you anything.
What real information? If you need to be told that savings is the key (of course if you can save) then you haven't been focusing. Wealth is what you don't spend away, it's as simple...
Hi @@SampsfaN
yeah and that information is usually along the lines of "just be rich lol"
@@SampsfaN True dat! Well, almost true: wealth isn't just operating at a surplus, it's also the acquisition of holdings.
What information? Put 1’500 out of your 43k/month income in an IRA? Wow, such sage wisdom.
Thanks for sharing your input
next video, living on $5 billion a year in Beverly Hills, CA
Next video living 10 million a year in Atherton California (Richest and most expensive neighborhood in the world)
No one lives with that amount
I struggled a lot as a kid... my dad was a doctor and my mom owned her own business... lols
It's definitely easier to get on your feet with capital from parents but that's the culture being taught and built into it. It's not the money it's the drive. I envy his knowledge big ups 💯
You can tell he struggled , not many make such good use of opportunities they have
Probably means making friends and being Asian. Most kids don't realize they have or don't have money.
Some doctors don’t make much, especially after all the debt they’re in after school. Plus his wife lost the business and they had like 3 kids and possibly they were taking care of the grandparents as well which is normal in Asian families.
Only a few people saw his BS
I am so deeply honored, blessed and grateful! Thank you!!
Wishing U the best brother!! We are a 2 physician family as well trying to balance things.
Send me 100k gujju bro
How much debt do you have on the $10m property?
This comment needs to be pined.
I don't know what to comment so wish you luck ☺️
"Don't buy things you don't need but when you do need something buy the best" ...That's a bar
the thing is…. Tesla isn’t the best, he was wrong about quality and longevity 😭
@@raumaan23 Whatever you feel is the best for you. Of course everyone isn't gonna agree on whats the best
@@brucedubby6449 yeah I know I’m just talking about how he was talking about quality like Tesla’s are known for that lol
@@raumaan23 Yeah, yeah- sour grapes. We all knock what we can't have to make ourselves feel better.
@@BigBri550 I mean I just started college rn so I’m fine with my Prius bud, I’ll get a Tesla for the fun later, (not the quality)
The kid is flawless and has the mindset of a true Investor. HOWEVER....
He was brought up from an upcoming business family (after 2008) so the family had great credit scores and assets and I guarantee he use that as a leverage when buying property.
You can buy property with having your parents co-signing and REMOVING them from your property after 6 months.
true.. its just, my parents are doing ok.. Good credit scores. I recently co signed to get a house.. I doubt I will be making 500K anytime soon. Rich isnt one thing falling into place..its many.. and having a perfectly honed skill to use when the opportunity does present itself..
@@FliknClik I heard success is when opportunity meets preparedness. Always be prepared to jump on the next opportunity to present itself, and you'll make successes.
Lol they didn't just cosign, they gave them all the down payments for sure.
Never seen Kevin be so impressed throughout. Pretty cool.
Wow, as someone living in a third world country I cant even imagine myself making $1,000 a month yet I have a college degree and am 10yrs older than this young man.
Cost of living and inflation go hand in hand. You cannot live near comfortably with $1000 here, but definitely in your country. Or even less than $1000
its all aboit management... youll be better off than everybody else in your country...
@@ryderwashington4199 thats true.
It's not just a 3rd world problem. I'm European and even I don't make $1,000 a month after taxes. There are probably 100 million people in Europe who makes less then $1K a month.
He was handed it all.
Dude is eating fast food and drinking Coca Cola. Kevin "He is eating healthy, He is very smart" :D
You can eat salads all day and still be fat.
USD-PKR almost $$175...
Kevin doesn’t count calories, he says it’s good, because it’s cheap
LMFAOOOO
@@jarebombao5382 What does that have anything to do with his comment? The point is fast food isn’t “eating healthy” like he stated.. Salads are healthy.. especially compared to fast food which is not.. 😐
Lol "my parents lost everything when the real estate markets crashed, therefore I learned to be safe with my money" Proceeds to take out nearly $10,000,000 in debt to invest into real estate. Love it...
Well once the market crashes buy low sell high. You probably got another decade before the next recession cycle.
Risk management my friend. Scaling up doesn’t change it.
he just trolling and shtuff
@@Pwn3dbyth3n00b that was after a decade...what
@@stephenworsley every year people like you say this and once every 10 or so years you get to say "see i told you so!" and still everyone thinks youre dumb...
Meanwhile, I’m only making $12.75 as a warehouse clerk 🥺
Invest in Crypto staking and high yield Crypto staking and you'll will making that amount in 1 to 2 years.
I always learn something new from your videos. Thank you so much!
Most people venture into investments to be a millionaire meanwhile I just want to be debt Free
I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings
@@mbalimaka6393 Bitcoin trading, but you will need a professional guide on that
The best decision I ever made in my life was investing in financial market.
Trust me guys it pays
I'm new to Bitcoin trading, how do I get started with the help of a professional?
Any specific guide?
Dude: ahhh whsjdhucfj dhdjdjd
Kevin: Very Smart, Very Smart
Thanks for the voiceover Kevin
I have always had side businesses. About 4 years ago I was able to turn them in to a full time situation, so I didn't have to work a traditional w-2 job. The wisest thing I learned was how to write things off on taxes. Learn the tax laws and codes and you will think differently about your bills and purchases if you have business, even if it's just a side business. Everyone should have a business, even if it's just a side business, just for the tax benefits.
Saving 70% of your income stops being impressive once you're deep in the 6 figures a year
And single with no children
More of these with Kevin!!!!!
When O'Leary speaks I listen> He is a smart and wealthy man but is relatable.
I'm putting aside $15 a week .It use to be $16 but I was denying myself too many nice things
You’re joking but it’s amazing how many people don’t put aside $15 for possible savings.
you got to start somewhere.
I put 150-200 a week into crypto the rest is for food and rent
@@CryptoLuke96 Dollars or pesos?
Hahahaah same here
Man, I'm barely making $2000 monthly in real estate sales commisions while this guy's making $20,000+ per month, crazy 🤯🤯
Hey man when I was car salesman I was making 100k a year. I hope you find better career if you can only do 2k a month in real estate, specially in all time high prices
I just looked up Golden Gate Sotheby's. They sell 8-9 figure properties. On a $100M prop, even 0.01% commission = $10k. I didn't know exec asst get commission on sales. Either he's also an agent bringing in clients or there's some special deal going on
Hes making more like $43k/month... 🤔
@@samuela6271 oh yeah, my bad haha
@@pcmasterrace4002 I just noticed even O'leary seemed to miss that... and that he's only putting 3% into a 401k... but with that sort of income, having a spare $20k per month must be hard! lol
“You have to have cash set aside for the bad times, cause they always do” exactly
Investing is buying yourself a better future you don't have to work hard again.
You can say that again.
I have achieved many things in my life since I started investing.
Speaking of investment, I've been finding it difficult choosing between real estate and Crypto, Stock investing.
@@kelvinl.3875 You sounded like a motivational speaker, And I hate your kind.😒
@@jasmineheidi1427 I'm into real estate investing.
I think it’s great what this guys is doing and absolutely remarkable! I will say, however, I wouldn’t be publicizing it like this either .. I wouldn’t want people knowing how much I make personally
@@pawaniyer oh totally. Just a matter of personal preference. And I agree with all you said
We need to demystify money and how it's made. You're probably afraid of others learning your tricks and becoming "successful" also. I think it's survival of the fittest instincts at play. But get this, not everyone measures their success with how much money is in their bank account and not everyone worships money. We should end our days with this simple question: Have I helped anyone today or just myself?
@@vince7735 ya maybe some want to hide their secrets. I agree people need to learn and model from other successful people. For me, its more a personal reason - just don’t want people to know my specific income and breakdown. Never know how that info gets abused or misunderstood
@hon solo Exactly. It just becomes an attack vector for people who know nothing about your life!
I agree, I would be embarrassed since I have a 4 year degree
What's all the more impressive tho is he got Mr Wonderful emotionally moved
love this guy, very honest and straight up
Kevin O'Reilly after every 10 seconds "very smart"
3:45 the markets can giveth and taketh - Kevin O’leary
The best thing about this guy is that he's not just into saving every freakin' penny he's enjoying his life and still be able to pull of half of his income as saving, that's what makes it impressive. Yes, absolutely he seems to be having great family value. As a 18 yr old i have picked up some really good knowledge by his side and ofcourse from you Kevin.
@@GossAug yeah I was gonna say saving half is not impressive, that’s easy when you make 300k+ and aren’t obsessed with buying new fashion and cars every month
@@GossAug In Bay Area, I'd make that about 200k a year to live off - 200k to save - 100k for taxes. Bay Area is one of the most expensive places to live in the world. Rent in SF is 3,000 a month for a 1 bedroom. I think Bay Area is more expensive than NYC (In my opinion).
That's because he has the money to do so.
he doesn't make "coffee at home"
He’s single so he can splurge. With wife and kids the budget quickly spiral upwards:
1. another car (for me I got my wife a better and more reliable SUV)
2. 4x the phone bill
3. 4x travel budget
Still comfortable, but not care free. However youth is on his side so he can make much more by the time he has his own family.
Love his analysis, love the kid more. Congrats CNBC on the great content. Love from the UK
Great video, lots of awesome information.
This kid has Indian values, kudos to his parents for keeping it intact in a western country ❤
Things that need to be addressed?
-How did he get the job at the most well sought after real estate brokerages right out of college with zero real estate experience? (cough daddy connections cough) .000001% get out of college and immediately work for a multimillion dollar listing company with zero prior experience without someone getting them in.
-9.4mm Portfolio in real estate, assume they needed 20% down at least, which would be 1.8mm starting capital. Having worked in the position for 3years, would not have enough money saved for that with 10k a mo saved. Who's injecting the capital?
Facts
..Or while studying in Berkeley, he studied what's the best money making job and worked closer towards it through the connections of the professors' inputs. Maybe his brother is in the same market and he had been learning from him or some family/friends of all the electives to take to land the best job; probably got in as an intern and worked extremely hard and of course smart to get to where he is. It's not hard to learn from your parents and immediate family members the values of saving but again even after the money you make, only someone extremely smart can do what he is doing.
I know of an extended family member who was given everything like this guy but ended up being a spendthrift and is working a 9-5 job just like everyone else once he realized there was no more.
Also, his family lived in a different state if you realize for his dad to 'cough up' connections. You have to at least give credit where due. Would love to know more about HOW this guy landed that job in the first place and WHAT did he do to get there. The capital could have come from his family selling off or mortgaging their family home too. I can confirm Indian parents go to lengths unknown to other cultures to ensure their kids' wellbeing without even letting the children know of their suffering (may not be the case here) but that is what in turn brings up our duties without them telling us. As an Indian, I also agree that we save a lot and live by these family values where what's ours is theirs and ensure their wellbeing as soon as we start making money but where he is at, can only come from his own dedication and I just wish him the very best :)
TLDR inside connections @@btanna5591
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.
Yeah! I agree with you sir.If you want to be successful have the mindset of the rich, spend less and invest More. Don't give up your dreams.
@@tianalucas8147 People come here with the aim of chasing money more than knowledge and that will damage your progress, trust me. Chase knowledge first and I promise! The money will follow you just like it's following some of us now.
@@juliagoncalves4082 That's very correct
And that is why most of them end up losing they money don't be in a haste to invest. Know what and who you are investing to and be sure that the person will deliver before I n v e s t I n g.
Learn and get the knowledge first before investing..
People wants to do what the 99% does but wants to get results that are fit for the 1%, but it doesn't work that way
@@sabrinaslime4493 Investment is the quickest path to financial freedom, the rich stays rich by spending like the poor yet investing! While the poor stays poor by spending like the rich yet not investing.
He was my classmate in communnity college. He has been ambitious and I am glad he is on the right track..
really?! what did he major in or what classes was he taking, also how did he get free classes at berkeley
@@aleynakurd4053 I belive he is in econ if my memory is correct. I dont know what else he took but we were both in econ2…I This video doesnt say he took free classes at Berkeley, but instead he took some classes at high school that can be transfered to Berkeley so he can save some money…
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Making money is the plan and with Bitcoin Investment your Plans can be fulfilled.
*I'm making a whole lot of profit off trading stock at the same time, I'd like to invest in forex and Bitcoin as I heard it's really happening now.*
@@carlosdelacruz7298 *that's true, a lot of people today have been having a ton of disappointments in forex and crypto trading in light of helpless decisions awful specialists.*
Actually you got a good fact, but am so much in need of an expert that can help me handle my account.
@@markbryanmatias5614 there are lots of good experts out there but most offer little ROI's. I will advise trading with Mr Nicholas Burke-Gaffney's team as I make over $35,000 on average per month from their trading bots.
Forex trading has left me no choice but to keep investing cause it's makes me profits that even myself gets shocked, I keep earning not less than $37,000 weekly.
this guy his clearly a A Genius
"Building money/wealth overtime takes time" His level of patience and persistence! His parents are truly blessed to have children that value them and themselves!
not when it all was given to you.
"It takes time" says the 25yo...
Yeah it takes time but if you're parents do it for you it takes far less time.
Yeah easy to build wealth when born to wealthy parents. Dude was born with a silver spoon up his a--
Haha I see what you did there, well played
This guy is so humble and responsible. Mashallah. Godspeed.
Great learning opportunity. I’m glad I found this show and I definitely recommend watching it.
"what I learned about money is make a lot of it"
Did he say “destroy the like button”?
I see that Stephan Graham taught him something!
This was such a great video. It's much easier to learn with these real world scenarios. Although, I miss hearing you say "you're dead to me"!
I had seen the living on 515k video previously. Great to hear your input on this!
I should be on the next episode.
Kevin O'Leary Reacts: Living on $17K A Year In the middle of nowhere.
Lol he would come out a millionair still :P
And you probably still save half your income
And complaining about people not paying their fair share....
Me, my wife and two small kids live on that same amount a year and I wouldn't have any complaints if it stayed this way, it really pays for a decent life in an Eastern European country. Ofc you can't bring your family to lavish holidays this way but still many live much worse here...
"Smash that like button" Graham trained him well 😂
No fr he copied and ran with this😂
Indians are natural savers even David Ramsey couldn’t keep up with this guy.
I really love these
Mr. Wonderful is that tough love our generation needs!
Someone needs to show him how to wear his Whoop.
compound usd 6-8% per year? where do you get those rate sir
Wow. Excellent young man. And really cool watching Kevin say it’s perfect.
"Man he makes so much money - so smart so smart"
Mr. Wonderful added a lot of value to this video!
you stop putting your wife out open for views
@@yashk4051 😂😂
@@yashk4051 lol
@@yashk4051 well you see, they emigrated from tiktok lmao
When you surrounded by smart people you are who you associate with smart parents make smart kids do the math they are his financial advisor
regarding the Tesla, I liked how he seems to still feel gratitude for being able to get that. usually people buy an expensive car and just get used to it and barely notice how nice it is anymore.
515k a year?
bruh makes 10x what I make
If I was making 515k a year I'd be blessed
you can do a lot with that kinda of money
@@drewskeez1156 relax
I'm open to ideas, what can you do with that kinda money? (other than put it in stocks)
5:27 Kevin is spot on this, My dad says the same thing, If you want to buy something get something of good quality even if it costs a bit more it will last a long time, He only buys things that have quality. I am on the opposite end buying cheap stuff and having it break down all the down or throwing it away.😅
Great commentary by Mr O’Leary
What watch is Kevin wearing?
500k in this area is probably feels more like 100 - 200k . Cali is one of the worst states to live in financially
When my dad died I inherited $150,000. Not even apartments would allow me to put $80,000 down. Bought a van, hoping the business buys a house instead. It’s extremely depressing out here.
@Star Dazing it would have, but what’s waiting for me anywhere else? No career or family outside of California, my home state. Leaving would’ve separated me from my brother, mom, nephews & nieces. But then again I might not die homeless elsewhere
even with 100-200k, Indian people can make it work and figure out how to increase it and live like kings/queens later on.
nah, 500k even in the bay is solid money. its not "100 - 200k"
@@Ichabod_Jericho You went to the wrong people or a bank. Someone in real estate would have written up a deal for you. 80k could make a great start. that is far more than I had in the beginning.
That is just bad decison making, it's not depressing out there at all.
Just incredible. How did he figure out all of this and gain access to $10m in funding to invest as a student and working part time?
Dad is a doctor and mom is a business owner
@@sourpatchkid87 he retired his parents which means his parents didnt have a lot of money
leverage
@TheENofficial It's funny how whenever someone gets some kind of success you just try to find excuses :)
@@manuelroque7782 Hating the rich culture is sickening.It comes from some people 's own insecurities from being unsuccessful and a failure.This society praises mediocrity and calls successful and rich people evil or use excuses like parents have lots of money to compensate for their sorry life.When in truth,most millionaires generates their own wealth.There are plenty of people ik who went from lower middle class to millionaire now.Rich and poor is a mindset.You take away all the money from rich ,they'll use their brain to become rich again ,you give the poor money they'll lose it within no time.There is a reason even after having millions most sports players like NBA players becomes broke after a while.He has that 1 percent mindset so you give him 100dollars or 100,000dollars ,he will build his portfolio.Its his luck he got educated parents who worked hard to be able to reach that point unlike some people who think their parents working minimum wage jobs are better people lol.Even if he didn't have educated working parents ,he is smart enough to gather investors for himself.
11 out of 10 emotional maturity; execution 11 out of 10 💚💎🏆💚💎🏆
What program did he use to make the charts and graphs ?
Guy has a doctor for a dad and a business owner for a mom, doesn't pay any utilities or rent/mortgage but he's giving advice? Of course he's able to "invest in himself" when he has hardly any financial responsibilities and makes half a million a year.
Why bitter, he merely showed how he lived (it may inspire someone since he is sharing his journey and how he made it), he was not giving any advices…
Stop right there! Why aren’t you buying into the petit bourgeoisie dogma?!?? WATCH AGAIN AND HAVE THE RIGHT OPINION THIS TIME
The point is other people live like this and their not using it to their fullest they rely on their parents if something were to happen he has himself set up for independence
@@wheretheyatthoe2101 He didn't set himself up for independence, though. His parents did. That's my point. It's like praising someone who won the lottery, its not something regular people can replicate.
@@wheretheyatthoe2101 it's funny you say that when clearly in the video it says he lived with his older brother in Berkely to finish high school while his brother was already in real estate ✋🤦♂️
Dude was putting more into his IRA than I even made each month. Hard to make money when you don't have any money and make $8/hr at a grocery store.
Wtf 8 an hour in 2021? Idk if u live in America but if u do then Man U need to quit right now and find a different job they r finessing u hard af
Bro I make 6 dollars a day working 10 - 10, 12 hours straight 😂
@@billionairesbio wich country are you from?
@@hul8376 india ...😅
@@billionairesbio hope life gets better, such a big difference around the world. I have what i need and some things i want with an average job
Patience. Well said.
I had no younger nephews watch this young man's video. He is more than impressive well done!
It's easily when parents connections and wealth land you a 515k/yr job out of college and 9M in real estate assets at 25 :O
@@scotland369 Well, I didnt see anything in the clip about his parents connections and wealth. If they were so well connected, why did the parents go bankrupt? From what I saw he and his brother did everything themselves and even financially supported their parents so they could retire.
I think he got a 100% because not on,y impressed Mr wonderful’s brain but with the family values touched his heart too… rare combo well done Sahil 👏👏👏👏 wish you good vibes and success 🎉
25? wow, he did well for himself. Cudos.
Having connections help.
Earn & Learn...... & family & business always a best combo
Financial literacy is must...and respect for taking care of the family 🔥
The guy has it going on. I aspire to be in such a good position as I grow older myself.
Well then just be born rich like the person in question.
I do agree with you💯 I had a senior colleague at work who was doing well but never had an investment. Unfortunately she lost her job and went from living a comfortable to a hardship life. There would have something to fall back on if she had an investment.
I thought the title said that he spent $515k a year instead of making $515k lol. Turns out he is a smart dude and I’m sure he will be the next kev
happy new year 2022 and all the best !!
“Putting at least 10% of what you are making”, the richest man in Babylon
There's gotta be a large amount of inheritance involved here. I turned my stimulus checks into 10 grand investing it. The more money you are given, the easier it is.
if his employer is giving him 1-2% for each real estate sold, thats a lot of money earned. He Doesn't need inheritance.
What tracking app are you using?
Really impressive, both the rich young guy Sahil and Kevin O'Leary!
did mr wonderful say buying the best/most expensive car you can afford is the best way to go? i feel like everyone always says to buy second hand and get a car that's reliable. i drive my hand me down civic lol. will prob get a model 3 or something when the solid state batteries are around
Yes he did say that and I think that’s a good way to go about it. It’s better to buy one pair of really good jeans that’ll last you years then having to buy multiple jeans because cheap ones ripped. Same principle applies to anything. One good coat/car/computer/backpack that’ll last years is better than multiple ones in those same years because cheaper can sometimes equal lower quality. You’re investing in yourself that way. Nothing wrong with second hand stuff but once you can afford good stuff I’d say go for it so you only need to buy it once.
@@theaveragemegaguy Expensive doesn't necessarily mean good quality though
@@eneco3965 more often than not it does though, that’s why it’s expensive.
@@eneco3965 it usually does though
this is good advice if you can reasonably afford it. buy the best in relation to your disposable income/situation.
What have I learned from this video?
1. He makes $550k (so $45833 per month, i assume pre-tax) but only budgeted $14983 which includes IRA and Savings. This means much of the remaining $30850 is invested in real estate (either paying his mortgage for his house or rental properties).
2. Budget is low only because he’s single. Travel, transportation, phone bills all triples quickly once he gets married.
So you're trying to find what's wrong and how he might fail? that's why he's probably more successful than you are.
@@orielmor-liveformor5809 not at all. (1) Just trying to point out the importance of investing in addition to the savings. (2) don’t get personal. You have to tell me if it’s “more successful” driving a Tesla or a Porsche. Just toys.
@@orielmor-liveformor5809 lol whats funny is Jonathan has a better understanding of investing than you and your dead channel from the start 💀💀
In California, it's safe to say that 45% goes toward state and local taxes.
Then there's federal income tax.
He easily only sees half his income after taxes under the best of scenarios.
@@spikefivefivefive I am sure he pays his taxes (we all do). Your point makes it more important to invest in business/real estate, maximize tax deductions and minimize taxes.
Ecstatic for Sahil
@0:44 i agree its a great idea to save for old age but, i think the more important take away is that he is listening to others advice and learning from them.
Meanwhile, the people who actually build the houses, create the infrastructure, manufacture everything in the house, is making peanuts.
They don’t put the same amount of risk to even start the projects.
@@dinogators8323 Yeah, risk… Like those going down the mine shafts… I know how dangerous borrowing money from family and connections can be.
More importantly, however, this guy does nothing. He doesn’t contribute to the society beyond shuffling money from one super rich to another.
They are parasites.
Exactly what i was thinking! How america works! Be rich or really poor!
Because its not difficult
@@Oneday-bw8gu said like a person whos never had a job before