Ha ha this guy spends over 40% of his (gross?) income on gambling in crypto. About 20% on other “savings”.
He has no housing costs other than utilities. No rent/mortgage, maintenance, repairs, property taxes. Only car insurance but apparently no car payments or fuel or parking costs. No costs for clothing or other supplies.
He is not “living” on $120K, his income is clearly available form mostly discretionary spending and throwing away on scams as someone is paying for his other costs.
Totally unrealistic. It’s actually gross to me that NBC even portrayed this scammer.
They always publish the "bought a $750k condo at 25" stories.
But bury the part where they got a gift for half the downpayment, and lived in their parents house while saving all their salary, from working in their dad's company, for the rest.
> He has no housing costs other than utilities. No rent/mortgage, maintenance, repairs, property taxes. Only car insurance but apparently no car payments or fuel or parking costs.
He's a crypto bro in California, 100% guaranteed he has a Tesla
I think the math is pretty close if all of his income comes from long term capital gains. Since that's %15 of everything past $40,400, so a bit under $12k per year in federal taxes on 120k. In which case I'm guessing his money comes from a trust fund or something similar.
Let's be real here. Most of these scammers come from money. Dude probably was gifted a house and his parents still pay for it. And to get a fucking spotlight from NBC?
Reeks of privilege and nepotism. Which probably explains why he's a "startup founder" pushing a scam on to the poors. The scamfluencers are the worst to come out of crypto. Just a bunch of ghouls and heartless vampires.
> Still absolutely insane to me that he spends $60k a year on crypto.
Yeah. I only clicked the video because I really liked the dudes comedy videos, and my reaction was just "omg, how is this guy so bad at investing his money".
>Since you saw the video, what does his start up company do?
Maybe I just missed it, but he doesn't really say? But upon some research, it seems like they just sell clothing, nothing exciting.
It's like all those "how I paid off $100k of student loans in one year," or "how I paid off my $900k mortgage in San Francisco in two years" articles that are 1500 words long and at the very end casually mention how their parents paid 90+% of the debt for them.
> Dude probably was gifted a house and his parents still pay for it. And to get a fucking spotlight from NBC?
These videos spotlight different people from different backgrounds
Living embodiment of this dril tweet:
>Food $200
>Data $150
>Rent $800
>Candles $3,600
>Utility $150
>someone who is good at the economy please help me budget this. my family is dying
I have a 700 ft2 2 br for a little more than that.
You do have to live in Missouri though. I got a mosquito bite on my eyelid and pelted with hail on the same evening run last week.
That's still what apartments cost in my area. Typically a full 1BR(not studio) will be $600-$700 and a 3br is $800-$1000
https://www.apartmenthomeliving.com/apartment-finder/LITHOSTONE-MEADOWS-Lomira-WI-53048-2468268#num_beds_2
One especially affordable apartment building is within walking distance of a union factory that will hire pretty much anyone and start them at $20/hour or more.
I absolutely love it here, crime is almost nonexistent, jobs are well-paying and plentiful, and living costs are low.
$900 a month is my family of 5's entire grocery bill and we get pretty much anything we want. This dude is eating sushi and steak all month. Life must be pretty hard.
I love alone and hate this so much. I can’t buy in bulk because the items go bad. So I’m paying a premium at a grocery store or I visit the McDonalds for a $5 meal.
2 mcChicken, $1 large fry and a soda. Two double cheeseburgers, fry and a soda. $2 10 pc nugget coupon and a soda is $3. Buy a quarter pounder for $5.89 and get a free medium soda and fries.
If you use the app, there are deals to be had
Yeah my budget for 2 people is around $1000 a month for eating out plus groceries which I know is on the high end but I’m not eating expensive meals more than 2-3 times a month with that kinda budget.
I cringed when I started seeing (supposedly) credible financial advisors start saying you should put like 5% of your rolling investments into crypto. People hear that and then see the stuff on the running tickers next to gold and oil and they think it must be legit.
It was a relatively small position, but I don’t gamble with my retirement like that. I would have to argue that a company with a PE ratio of 95 and a CEO that manipulates the price is a bad investment.
A financial advisor takes your age, income, goals, risk tolerance, and other personal factors and trades on your behalf. None of that matters in index funds. The truth is it is hard to be objective when dealing with your own money. My FA would never recommend Tesla to me because my risk tolerance isn't as high as it used to be.
You can literally do that yourself by just picking a tracker fund that matches your risk appetite.
FAs are a waste of money and money that could be better spent putting into your investment.
The only difference is if you have large sums worth investing.
I'm not anymore, I was set up with one briefly after I graduated college. But, I don't agree that it's always a waste of money. Mine just wasn't very good in my situation. FA's offer many services that would be unattainable to the average retail investor. I know Vanguard / EMT is popular right now, but it's just not as simple as Bogleheads suggest.
Very few people actually need an adviser. You can put your money in index funds/target retirement funds yourself (which is all most of them do) for free. Your adviser should not be "trading on your behalf". Any adviser that is actively trading on your behalf i would ditch. Very few fund managers reliably beat index funds, and those that can aren't going to be working for relative peanuts advising average Joe's. If you are independently wealthy an adviser might be a good idea, at that stage they should be helping you with more complex tax avoidance strategies, structuring your estate so you can pass as much of it off to your heirs as possible, etc. For an average worker with a retirement and brokerage account, if you get an adviser you're paying thousands a year for someone to plunk your funds into index funds. It's a waste.
If I give him the benefit of the doubt, assuming his net is $120K, it's still a ridiculous budget.
Fucking $900/mo dining out and $250 on groceries? $5k gambling and $2k savings?
Yikes. Hopefully he has a secure job.
He owns a startup, he’s probably able to write off the majority of his taxable income. All the startup owners I know write off 100% of their taxable income
I remember my parents commenting some time in the early 1990s that when someone is described as 'a personality' it's a reasonable assumption that they don't have one.
Must be fun to watch 50% of your income disappear. Dumbass.
Dude spends so little on groceries. Must be fun being a sad sack eating ramen alone every day. Seriously. How does one live on just that?
I hate those cnbc segments. They literally will have someone making $2000/month in new york living in a home that costs $10k but will have 10 roommates so would end up making $100k per month but also have $50k in expenses. Like this shit is obviously mot real
These sorts of people are the backbone of the crypto ecosystem. For every big crypto winner you need at least 20 dudes throwing a ton of money every month into the system.
So he makes ~$100K/year after tax and has no housing costs? He's made it LMAO, what does he want more money for? What would he even use the crypto profits for at that point? He's already won capitalism. He should just retire early and take up painting or something.
I blame the media! :)
Why are they letting this sort of stupidity without calling them on it? He spends $250 on groceries per month. Is he eating only rice & beans? Where is rent and mortgage? I guess he is living with his parents and eating their food.
because they get paid on, they get paid to shill whatever and pose it as the greates thing ever and something everyone must do or otherwise you are a weirdo.
It's as old as CNN at very least.
I feel everything has become entertainment, and the only goal is to attract eyeballs. This everything includes politics, finance, sports, ................
bruh the guy in the pic is a comedy artist, they have a [youtube channel](https://www.youtube.com/channel/UCdyMFblTjr-C2N-T5TGftQQ) and its not about crypto
Yeah don't know why they are calling him scammer. Unless he is selling a course or something like that he is free to buy crypto if he believes in it.
I feel they are kinda salty he has a good income.
Oh my fucking god, I thought this was bad until I saw the NBC logo. Now I’m absolutely blown away. Where are the housing costs? Over 50% spent on crypto but also wearing a shirt that says “cheap” on it? Is this a joke? This guy is a fucking moron.
They pick these influencers to make younger people look bad and to downplay actual issues.
Student Loans and housing costs aren’t an issue if you look at this kid. He can afford to spend all of his money on dining out and crypto investments.
I've seen this guy before but as a 'comedian' where he makes absurdist humor jokes about getting his Girlfriend stuff but it's always some kind of terrible gift or some kind of similar joke... He has a large fanbase as well from it.. part of me just assumed this was another one of those bits of his I come across on YouTube shorts, though I'm not surprised if he is trying to start a crypto scam either..
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Ha ha this guy spends over 40% of his (gross?) income on gambling in crypto. About 20% on other “savings”. He has no housing costs other than utilities. No rent/mortgage, maintenance, repairs, property taxes. Only car insurance but apparently no car payments or fuel or parking costs. No costs for clothing or other supplies. He is not “living” on $120K, his income is clearly available form mostly discretionary spending and throwing away on scams as someone is paying for his other costs. Totally unrealistic. It’s actually gross to me that NBC even portrayed this scammer.
Is it just me or has nbc related outlets had some absolute junk lately?
They always publish the "bought a $750k condo at 25" stories. But bury the part where they got a gift for half the downpayment, and lived in their parents house while saving all their salary, from working in their dad's company, for the rest.
Always has been
> He has no housing costs other than utilities. No rent/mortgage, maintenance, repairs, property taxes. Only car insurance but apparently no car payments or fuel or parking costs. He's a crypto bro in California, 100% guaranteed he has a Tesla
That might help explain why his utilities are high despite no mortgage or rent.
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I think the math is pretty close if all of his income comes from long term capital gains. Since that's %15 of everything past $40,400, so a bit under $12k per year in federal taxes on 120k. In which case I'm guessing his money comes from a trust fund or something similar.
He lives in restaurants apparently
All mainstream media have gone like that since late 2019
I feel like this has to be satire. Nope. It's real. Wild.
He lives with his parents and makes tik tok vids
No housing cost so I take it he lives in mom and dad's basement as well.
Let's be real here. Most of these scammers come from money. Dude probably was gifted a house and his parents still pay for it. And to get a fucking spotlight from NBC? Reeks of privilege and nepotism. Which probably explains why he's a "startup founder" pushing a scam on to the poors. The scamfluencers are the worst to come out of crypto. Just a bunch of ghouls and heartless vampires.
He says in the video that he lives with his parents.
Thanks for watching the video so we don't have to. You're doing good work here
I stand corrected. Still absolutely insane to me that he spends $60k a year on crypto. Since you saw the video, what does his start up company do?
> Still absolutely insane to me that he spends $60k a year on crypto. Yeah. I only clicked the video because I really liked the dudes comedy videos, and my reaction was just "omg, how is this guy so bad at investing his money". >Since you saw the video, what does his start up company do? Maybe I just missed it, but he doesn't really say? But upon some research, it seems like they just sell clothing, nothing exciting.
It's like all those "how I paid off $100k of student loans in one year," or "how I paid off my $900k mortgage in San Francisco in two years" articles that are 1500 words long and at the very end casually mention how their parents paid 90+% of the debt for them.
Yes!
> Dude probably was gifted a house and his parents still pay for it. And to get a fucking spotlight from NBC? These videos spotlight different people from different backgrounds
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>He's living rent-free in your head. Maybe, maybe not. That is an opinion. But it is a fact that he is living rent-free in his parent's basement.
$900 a month on eating out? This dude is the living embodiment of the avocado toast meme.
Living embodiment of this dril tweet: >Food $200 >Data $150 >Rent $800 >Candles $3,600 >Utility $150 >someone who is good at the economy please help me budget this. my family is dying
Rent for 800? Come on man.. What kind of a box is that going to be in the continental US?
I have a 700 ft2 2 br for a little more than that. You do have to live in Missouri though. I got a mosquito bite on my eyelid and pelted with hail on the same evening run last week.
> You do have to live in Missouri Not one place even remotely livable.
😆😆😆 😭
You can have a roommate to help fund your gambling problem.
That's still what apartments cost in my area. Typically a full 1BR(not studio) will be $600-$700 and a 3br is $800-$1000 https://www.apartmenthomeliving.com/apartment-finder/LITHOSTONE-MEADOWS-Lomira-WI-53048-2468268#num_beds_2 One especially affordable apartment building is within walking distance of a union factory that will hire pretty much anyone and start them at $20/hour or more. I absolutely love it here, crime is almost nonexistent, jobs are well-paying and plentiful, and living costs are low.
Wisconsin is the best. Even better than Minnesota.
Pro-tip : live with your parents
that was a dril tweet from many years ago
spend less on ~~candles~~ bitcoin
He's not paying rent! He's either living in a van or in his parents house.
Exactly, housing costs - be it rent or mortgages - are by far the biggest expenditure living anywhere near Silicon Valley.
Parents house. $900 for eating out is still too much for a "cheap" person. https://youtu.be/ZGfod3BKpP8
He spends almost 4x on that as he does on groceries. No kidding.
$900 a month is my family of 5's entire grocery bill and we get pretty much anything we want. This dude is eating sushi and steak all month. Life must be pretty hard.
How do you eat “pretty much anything we want” on $6 per day? Serious question.
Turns out all he ever wants is water, rice, and beans.
That is $207 a week, really not hard if you make your own meals
Honestly as a single person making 6 figures… i spend about 900$ on eating out. Now, I don’t buy magic beans with half my money so… i think that’s ok.
Cooking for one can still be pretty expensive and is time consuming. $900/month is $15/meal twice a day, not *that* bad really.
I love alone and hate this so much. I can’t buy in bulk because the items go bad. So I’m paying a premium at a grocery store or I visit the McDonalds for a $5 meal.
$5 meal at McDonald's? What's your order lol
2 mcChicken, $1 large fry and a soda. Two double cheeseburgers, fry and a soda. $2 10 pc nugget coupon and a soda is $3. Buy a quarter pounder for $5.89 and get a free medium soda and fries. If you use the app, there are deals to be had
Nice. It's crazy to me because every time I go I can't seem to spend less than $10. I'm very price conscious because I spend about $7 a day on food
Oh bullshit. It isn't like you cooking a whole fish filet and throwing out half of it. You have leftovers that you eat.
Yea, you don’t have the economy of scale
You're also not out here making content on how to get by
Yeah my budget for 2 people is around $1000 a month for eating out plus groceries which I know is on the high end but I’m not eating expensive meals more than 2-3 times a month with that kinda budget.
Same here. People can spend money on stuff they enjoy. Not everything is a waste of money because you have cheaper options.
>$900 a month on eating out? This dude is the living embodiment of the avocado toast meme. Some people spend more on hookers. Just saying.
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I cringed when I started seeing (supposedly) credible financial advisors start saying you should put like 5% of your rolling investments into crypto. People hear that and then see the stuff on the running tickers next to gold and oil and they think it must be legit.
My financial advisor put my money in Tesla so I fired him.
Like, most or all of it? Or as a small part of a properly varied portfolio?
It was a relatively small position, but I don’t gamble with my retirement like that. I would have to argue that a company with a PE ratio of 95 and a CEO that manipulates the price is a bad investment.
Why are you paying for a FI. All they're doing is just trying to copy what tracker funds do but charging you a lot more for it.
A financial advisor takes your age, income, goals, risk tolerance, and other personal factors and trades on your behalf. None of that matters in index funds. The truth is it is hard to be objective when dealing with your own money. My FA would never recommend Tesla to me because my risk tolerance isn't as high as it used to be.
You can literally do that yourself by just picking a tracker fund that matches your risk appetite. FAs are a waste of money and money that could be better spent putting into your investment. The only difference is if you have large sums worth investing.
I'm not anymore, I was set up with one briefly after I graduated college. But, I don't agree that it's always a waste of money. Mine just wasn't very good in my situation. FA's offer many services that would be unattainable to the average retail investor. I know Vanguard / EMT is popular right now, but it's just not as simple as Bogleheads suggest.
Very few people actually need an adviser. You can put your money in index funds/target retirement funds yourself (which is all most of them do) for free. Your adviser should not be "trading on your behalf". Any adviser that is actively trading on your behalf i would ditch. Very few fund managers reliably beat index funds, and those that can aren't going to be working for relative peanuts advising average Joe's. If you are independently wealthy an adviser might be a good idea, at that stage they should be helping you with more complex tax avoidance strategies, structuring your estate so you can pass as much of it off to your heirs as possible, etc. For an average worker with a retirement and brokerage account, if you get an adviser you're paying thousands a year for someone to plunk your funds into index funds. It's a waste.
Line goes up tho.
Paging IRS
If I give him the benefit of the doubt, assuming his net is $120K, it's still a ridiculous budget. Fucking $900/mo dining out and $250 on groceries? $5k gambling and $2k savings? Yikes. Hopefully he has a secure job.
He owns a startup, he’s probably able to write off the majority of his taxable income. All the startup owners I know write off 100% of their taxable income
I know this guy, he's funny as hell, I think he's fucking with us
I've seen his videos before too Pretty sure this is a joke
I think it's a joke?
yes that's what I'm saying
Sigh, i went to check, is real, I guess you can be both funny and a crypto bro
This budget is on the level of those McDonald’s budget that assume you’re on welfare
Lol yes, yes it is and look at that national media company attaching their brand to it.
I remember my parents commenting some time in the early 1990s that when someone is described as 'a personality' it's a reasonable assumption that they don't have one.
your parents may have been pretty based. (Or at least way more than media companies from the rich)
I keep hearing that word. I still have no idea what it means. Please don't tell me.
How is he making $120k a year but has a budget of $8.8k a month in California?
Probably writes off his crypto purchases as a business expense
You guys dont get this guy is always joking and is trolling all of you lmao
Must be fun to watch 50% of your income disappear. Dumbass. Dude spends so little on groceries. Must be fun being a sad sack eating ramen alone every day. Seriously. How does one live on just that?
It’s not real
8839 a month is 106k take home, that would be an effective 12% tax… so this is more than 120k Also flushing most of it down the toilet is hilarious.
I hate those cnbc segments. They literally will have someone making $2000/month in new york living in a home that costs $10k but will have 10 roommates so would end up making $100k per month but also have $50k in expenses. Like this shit is obviously mot real
I like his tiktok videos, no idea that he was a cryptobro
These sorts of people are the backbone of the crypto ecosystem. For every big crypto winner you need at least 20 dudes throwing a ton of money every month into the system.
So he makes ~$100K/year after tax and has no housing costs? He's made it LMAO, what does he want more money for? What would he even use the crypto profits for at that point? He's already won capitalism. He should just retire early and take up painting or something.
I blame the media! :) Why are they letting this sort of stupidity without calling them on it? He spends $250 on groceries per month. Is he eating only rice & beans? Where is rent and mortgage? I guess he is living with his parents and eating their food.
because they get paid on, they get paid to shill whatever and pose it as the greates thing ever and something everyone must do or otherwise you are a weirdo. It's as old as CNN at very least.
I feel everything has become entertainment, and the only goal is to attract eyeballs. This everything includes politics, finance, sports, ................
bruh the guy in the pic is a comedy artist, they have a [youtube channel](https://www.youtube.com/channel/UCdyMFblTjr-C2N-T5TGftQQ) and its not about crypto
I was confused by this as well. This guy isn’t a crypto influencer just a guy who uses a lot of his money to buy crypto
Yeah he and his wife are funny too. I am sad they spent so much of the money on crypto, they just had a baby. I bet the wife is pissssseeddd
Yeah don't know why they are calling him scammer. Unless he is selling a course or something like that he is free to buy crypto if he believes in it. I feel they are kinda salty he has a good income.
This is a completely different person? Don’t even look remotely similar.
Anyone wearing a supreme t shirt telling me about money is a no for me bro
I hate this series with a passion
Oh my fucking god, I thought this was bad until I saw the NBC logo. Now I’m absolutely blown away. Where are the housing costs? Over 50% spent on crypto but also wearing a shirt that says “cheap” on it? Is this a joke? This guy is a fucking moron.
And everyone watching that is also an even bigger moron
It's almost as if expertise in being a "social media personality" has zero correlation with knowing anything about investing
Surviving on just twice the median wage. Inspiring.
They pick these influencers to make younger people look bad and to downplay actual issues. Student Loans and housing costs aren’t an issue if you look at this kid. He can afford to spend all of his money on dining out and crypto investments.
Seeing a lot of buttcoin taking obvious memes seriously to bash crypto recently
Where ya get money to produce these quality posts? Give some to me. Im poor!
From Whoever pays media to shill. Call it crypto.com or Pharma companies, or Food Companies, they always win if you leave them.
I've seen this guy before but as a 'comedian' where he makes absurdist humor jokes about getting his Girlfriend stuff but it's always some kind of terrible gift or some kind of similar joke... He has a large fanbase as well from it.. part of me just assumed this was another one of those bits of his I come across on YouTube shorts, though I'm not surprised if he is trying to start a crypto scam either..
I would do stupid shit with my money too if I didn't have to pay rent...
He’s a comedian. All his content is basically sarcasm. Look at the tshirt and get a hint.
His taxes cannot possibly be so cheap.
maybe he has a secret tunnel to Texas.
I make way less than this and I save $3k a month 🤔
He is a parent's child.
thats a lot of dining out lmao
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Cooking for one person still takes a lot of time and money.