The reason you think he looks 17 is because TV shows and movies always cast actors in their late 20s to portray 17 YOs. He definitely looks like he's in his early 30s though...
shauna schanck Yeah, he will probably age quickly because of stress. Making 120k in DC is nothing. You need to make at least 350k there to be truly comfortable. DC is one of the most overpriced places to live in the country, especially when you factor in that the area sucks (no beach, no mountains, ugly city).
This dude has put on the golden handcuffs. Matching his cost of living almost exactly to his income. If that job lays him off tomorrow he'd be in serious trouble.
But if he gets sick or in an accident and can’t work? Or there is a catastrophic incident at one of his homes, he’ll be in a world of hurt. Insurance does not pay right away necessarily.
I appreciate his honesty, a lot of people are coming for him in the comments but he's young, has 3 properties, and a good salary. he will be out of debt in no time and is enjoying life.
yeah he's doing well, but 1.5k a month in eating out is ridiculous especially when compared to what he said he was saving. That's the one thing that's really financially stupid.
Him: I found out about a personal finance class and everything just clicked! Also him: I spend $1,500 on eating out and only save $100 per month on $12k take home
RamboSyl it’s the truth. Debt in homes rentals can make you money which many poor people don’t understand. Most people just buy crap they shouldn’t be buying like cars that cost what they make in a year or two and expensive material objects that they think make them look rich. My dad is a self made millionaire and drives his trucks till they won’t turn on and wears basic clothes his wife buys him from Ross and kohl’s while on the other hand you have people like my cousins who lease cars every 2-3 years walk around with designer bags and new clothing weekly and always transferring credit card balances all while making 30k a year with no savings or investments..... that is what most people do
He's saying he saves $100 per month. In reality, it's more complicated than that. You should look at his $5,000 debt repayment as part of his savings. Every payment builds equity in his homes because each mortgage payment pays down the principal. If he wanted to, he could later refinance his rental properties to get cash on hand. The $100/month is probably towards his rainy day fund.
He’s 24 making 100+k a year and with interest in property ownership and repaying his student debt as soon as possible. Can you clarify where he is bad with money besides eating out too much?
This guy is kind of all over the place. He has some good habits and then other things I'm just shaking my head at. I live in dc and make half his income but am arguably doing better.
Right? It was going well until he said he spends $1300 a month on eating out... Why?? You may not be a good cook but it doesn't take a chef to a salad or a wrap at home when you're on the go.
@@raissakabeya87 Agree making a salad or a wrap would be so easy and cheap. Also if he hates cooking that much he could order HelloFresh. To most people that would be overpriced but he'd still be saving so much more on food that way, and he'd get the recipe and portions laid out in the easiest way possible
@@AlfoncinaMatilda I mean there's such thing as balance haha. Eating out for 3 dinners a week to see friends and enjoy nice food? Not the biggest deal when you make enough money. Eating out for every single meal and snack to the point where you can only save .01% of your monthly income because you're too lazy to learn to make a sandwich or boil an egg? That's a problem
How is this possible he is 24 with a bachelors, 2 masters, 3 homes, making over 3 times what people his age make on average 😵. How did he gain work experience to surpass entry level pay??
Red HawK15 ehhh getting your degree before 20 isn’t always a good thing. I know people who got a double major at 23 and had a higher paying, stable job and house by 26. It’s because undergrad let them develop and connect more and they did coops.
Depending on his work experience in the Marine Corp, he most likely leveraged his previous role into his current defense contracting position. Oftentimes, in the right field, it is substantially easier to get a great paying defense contracting position with relevant military experience. The military provided his training, experience, and paid for his security clearance. The security clearance alone is sometimes all you need to get a six figure job in defense contracting. Then he used his GI bill benefits to pay for his education. He may have even had access to employer based education benefits to pay for his second master's degree. The military can be a great opportunity to get a great career later if you plan and make good choices. I've meant many smart people like him during my time in the military.
Phil Thomas,,, Hooo no no no, graham is a Cheapskate. 👎 This smart guy is working the things on his way and is working for him, good for him. 👍 p.s. Lucky him, Enjoy your $1500 on yummy food! 😋
Kathy R I agree with you on enjoy the food lol But that’s the difference between the financially free and non financially free. Let your assets pay for your lifestyle. P.S. If you look at the comparison between Graham’s income vs expenses, he won’t have to worry about down-sizing his lifestyle if things go bad b/c he’s living way below his means 💯 To each their own 😁
Duncan Fowler ,,, Hooo no no no, graham is a Cheapskate. 👎 This smart guy is working the things on his way and is working for him, good for him. 👍 p.s. Lucky him, Enjoy your $1500 on yummy food! 😋
blackwitness aaa ,,, Hooo no no no, graham is a Cheapskate. 👎 This smart guy is working the things on his way and is working for him, good for him. 👍 p.s. Lucky him, Enjoy your $1500 on yummy food! 😋
if you add together student debts, taxes and the fact that he spends like is jay-z this guy is broke as hell with also a mortgage and credit card debts to pay back... good luck son! hope everything will keep going well
S CP yeah. what seems to set him apart from some of the other people is how he said he's happy to help a friend out, and he feels better about himself so it's a win-win.
This guy thinks he’s smart with money, and then spends over 1000 bucks a month on food, he has debt and has multiple properties that almost break even....... Good luck to him.
I went to grad school at Kogod, American University with Garrett . He's such a great guy, and very brilliant too .I think he has what it takes to be a billionaire.
I also live in the DC area and am a UVa alum! It's great he's tackling his credit card debt, though he'd probably knock it out way sooner if he cut back on food!
I hope he sees this comment. Eating out that much is *so* unhealthy. You’re not getting a balanced diet. Restaurant meals are dense in empty calories and have more added chemicals than most meals prepared at home. Try to cook at home more for your health not even for money’s sake. You may not feel the effects now, but in ten years your body’s gonna be hurting from your choices. You can even try meal subscription service that may be at least a little healthier. Health is wealth.
I agree with you that eating out is extremely unhealthy. Restaurant food has a lot of fat, sodium, carbs, and almost no fiber. Also renting houses is definitely not passive income. Managing a house and dealing with tenants takes a lot of time. Living in the DMV myself I know that National Harbor in PG County is a bad neighborhood.
He’s on the right track..Buying real estate in prime areas using VA loans is smart. The appreciation over the next several years will put him ahead big time. Salute to this guy..doing big things at only 24. Easily a millionaire by 30.
sicheng weng ,,, Hooo no no no, graham is a Cheapskate. 👎 This smart guy is working the things on his way and is working for him, good for him. 👍 p.s. Lucky him, Enjoy your $1500 on yummy food! 😋
@@kathyr2090 Graham is also a millionaire so....I mean if he values spending 1300 on eating out over investing that money then good for him. Thats 13K on food a year - if you invest that, you could eat out as much as you want with the returns you would get thru investing
How isn't he managing it? You see in the video what that debt is for, and he is clearly putting far above the minimum payment. He's on track to eliminate all of his debt in a span of less than two years. Pretty good to me.
FinanceFaucet he could transfer it to a zero interest credit card and pay it off faster. Also, he is spending 1500 on food per MONTH and only 100 on savings
Homeboys doing the debt snowball. I’m sure he’s not paying interest on the debt and wants to get rid of it before it accrues interest. I’m willing to bet he already has money saved for emergencies and getting rid of that debt in what seems like less than 10 months will be a huge relief. When you’re doing the debt snowball you don’t save or invest
miya lu ,,, Hooo no no no, graham is a Cheapskate. 👎 This smart guy is working the things on his way and is working for him, good for him. 👍 p.s. Lucky him, Enjoy your $1500 on yummy food! 😋
Graham is actually gonna love it. Despite the fact that he spends 1300$ on food, he already has like 3 properties, while he is only 24. And! even this 1300$ he spend in order not to waste time on cooking and cleaning, I guess it is worth it. What is more, he literally goes the same path as Graham, save-buy house-rent it-repeat
Guy was smart and chose an mos that translated skills well into jobs. Also most likely went to school while he was in. Smart dude I’m having Uncle Sam pay my mortgage too
Shani Ballard I’ve watched a couple of these videos and non of the math makes sense. Even if his take home after taxes WAS $120k, his budget adds up to almost $150k! If you take away his roommates share of $1k, his budget STILL adds up to over $130k.
Shani Ballard I meant I’ve watched other Millennial Money episodes. I feel like each of them has the same issue where it’s not clear whether the income stated is pre or post tax and the budgets math just doesn’t add up.
If you live in it for 365 days it satisfies the owner occupancy requirement then just refinance to free up to cap on the VA loan so he could use it a 2nd time on his 400k apartment in DC
Here I am thinking I was doing bad by just saving $2500 a month this man is saving $100 dollars while making the same salary as I am !!! Just wow !!! How scary !!!
If I earned that type of money I would for sure be doing the exact same thing which is gaining rental properties. He's so young and does so great. This is motivation to help me level up my game.
angel gonzalez ,,, This smart guy is working the things on his way and is working for him, good for him. 👍 p.s. Lucky him, Enjoy your $1500 on yummy food! 😋
I enjoyed this episode. Especially because I live in the DC Area. Investment Properties are my next avenue. Great episode, at 24yrs old he is doing phenomenal!
He’s doing well for 24! He will learn to budget better but he’s building himself for the future! He will be a future CFO and real estate mogul in no time!
These are the numbers I'm coming up with after some quick math: -According to SmartAsset, 120k salary in the DC area = $6,793 NET income a month ($10,000 GROSS) - Using the GI Bill at American University = $2,535 a month (not taxed since it's a VA benefit) for "Housing Allowance" PLUS tuition fully paid (you only get paid while in school, so between semesters you do not get paid the "housing allowance" - mentioned at 08:30) - His roommate is paying him $1,000 a month - 38k (3166 a month, assuming that this is net) yearly income from rental homes Monthly NET Income 13,494 (Net Monthly Salary + GI Bill income + roommate money + rental home money) 12,231 Chart at 01:03 indicates this as his monthly expenses 1,263 remaining after all expenses (if we don't count the GI Bill, $-1272) At 06:59 it says that he owes about $47,500 in debt (not counting his properties). His 5k a month payment rate will knock that out easily, especially if he tosses some of his remaining money in there - so that's around 5-6 months (or more depending on interest rates, but still not very long). Someone correct my math if its wrong, I'm just trying to look at everything realistically. I reckon that the monthly food and debt payments probably fluctuate a little bit.
Your math is a little off but just because he's still paying a mortgage on at least one home. Even if he was pocketing everything and not paying taxes his income would have to be $140k+. Something about these numbers is way off
Everybody knows what Graham's gonna say already: "$1500 on FOOD?!" "$5000 debt repayment?! For what?!" Well at least he has valid reasons for the food, and he knows he's gotta focus on the debt repayment.
isaaqkkonpsp,,, Hooo no no no, graham is a Cheapskate. 👎 This smart guy is working the things on his way and is working for him, good for him. 👍 p.s. Lucky him, Enjoy your $1500 on yummy food! 😋
So many haters in here calling him dumb. Yet he makes more than 80% of the population in the U.S, has two masters degrees and is on the road to becoming a CFO. The amount of envy for the rich/well to do in this country is out of control.
In the video, he only made a small amount of cash flow on his rental properties. On top of that his mortgages are quite high! If he refinanced, then he will have negative cash flow and high mortgage payments.
@@amolgill7480 I don't know the exactly numbers, but he did mention one of his properties has gone up by 20 percent, also his repairs should add more value than what he put into it. I feel like the deal where he got 50 percent ownership of a house for repairs was a terrible deal, consider he put a lot of repairs on his credit card and he is paying some of the mortgage. Also he already has a cash flow problem consider he put those repairs on a credit card.
Tyrel Tolliver I’m no millionaire by no means, but I do good for my age and my life never gets boring. I get tired of seeing everyone post videos about guys in a cubicle making a million like it’s nothing. I’d much rather be working in a field I truly enjoy.
CNBC Make It. I saw you’re looking for the San Francisco area, but my wife and I are from San Diego, CA. Annual income of about $230K. Let me know if you’d like us to send our story. Thank you.
So let me get this straight he earns $120K per year that equals to 10K a month pre tax. But he has a budget of $12,232 each month which equals to $146, 784. Where is he getting the rest of the money to keep up his budget?
Aside from some debatable budget decisions, I was glad to see a service member utilize the assets he has (VA loan) to build a business after the military. Good luck with your investments!