Living on $100k - How much I spend in a month 

Hey Ali. Let me try sound cool: "He's not living below his means, he is living diligently. How everyone should, no matter the income. The flashy lifestyle is not a real life."

@@NoName-vl5gr agreed bro

That's funny, when I saw this video I immediately thought of you, Ali! And here you are :-)

Spammmmmm

Why tf would you make a company when you don’t even know what you’re going to do with it?

@@ThotsAndPrayers may I suggest not to make assumptions in life? I used the holding company for my other contract works, it is not "don't even know what to do".

How is that relieving or inspiring? If you make 10x less than him, your expenses shouldn’t be that high.

@@ThotsAndPrayers He made $800k last year and his monthly expenses are $2500. $2500 is not a lot in monthly expenses; that's average in the US if not less than average. The inspiration is in the fact that he makes a ton of money, but doesn't feel the need to make his monthly expenses absurdly high. A high income with a modest life. Surely that's not a crazy idea, right?

@@ErrickJackson oh I thought you meant 10x less than 100k. I was gonna say my brother in Christ that is not a good debt/income ratio.

@@ThotsAndPrayers Lolll no no, life is rough, but not that rough my guy haha

This is a great idea for a video, I might have to make one!

If you spend £10k on materials for a kitchen and inflation is 10%, you can get a loan at 5%, that’s how it is worth more

Check out my other videos. Already covered this :)

It's pretty bad in Toronto lololol

That’s an interesting perspective - I’ve never thought of a mortgage that way before.

@@Nathan_Lundstrom ​ haha yea, it's insane what the ultra-wealthy know and do. They go into debt on purpose because: 1) You don't get taxed on loans and 99% of the time, your income tax will ALWAYS be higher than your interest rate on a loan- so why increase your income? Just take out loans and buy appreciating assets. Create a corporation and put all of your active income into it. 2) Taking out a loan means you get money NOW vs working for it and getting it in the future. Money NOW is more valuable than money in the future due to opportunity costs and inflation. I'd rather owe $100k of future money and make $100k NOW than make $100k over time, owe more taxes, and work for it.

Agreed. The value of buying a house is the leverage/position you have to make capital gains on the property. Whether you have 10% or 50%, you'll make the same gains when the value goes up. In my opinion, always borrow as much of the property as possible from the bank and invest the rest in something like the S&P500 :)

Please do correct me if I'm wrong, but 10% growth, minus ~2.5% inflation (or higher, these days), minus ~25% tax, would give you a real return of ~5.5%, so if the mortgage rate goes to 5%, a guaranteed "return" at that rate may be a better option than index fund investment, right?

@@nilsferm ISA is tax free and allows £20,000 per year to be put in that's after tax money going in. More than enough for most people. Pensions are deferred tax you pay on the way out at 57. Where are you getting the 25% tax from? Obvs with his earnings he probably putting most of it into ISA/Lifetime ISA/SIPP and a general investment account. The general investment account would be the only one subject to tax but seeing as he not spending much in relation to his earning then its a non-issue. You can take £12,300 per year tax free capital gains anyway that's almost half his spending. He will not be paying any tax on his investment in the future if he draws from each source accordingly.

Wow how do you spend so little on groceries

BIK tax for cars. Tech stuff is usually business expense as I use it for work. Anything I can buy to make me better at my job is a worthy investment.

Had a 5 year fixed. Currently on a 2 year fixed. I didn't get a 10 year fixed as I don't plan to stay here for 10 years. And there can be hefty penalties if leaving a mortgage early.

@@OliurOnline They're not that bad - typically 1-5% of the outstanding balance.

Nope. Not yet anyway lol. I’m asked often but don’t want to make courses about any old crap.

Same as asking how long is a piece of string. Accountant costs can vary so much depending on what they do for you. Every accountant will also have different pricing.

Lmao

It's a local tax, set by the government and implemented by local councils. Pays for roads, schools, police, etc.

I do both :)

Could you expand further on what you mean? I always receive comments saying my audio is good so I'm interested in hearing from someone who says it's bad, and how I can improve it.

Same as property tax in the US.

@@OliurOnline do you feel you get the benifits of it?

Just knows how manage money without being a fool.