In this video I'm going to show you how to go from $60,000 a year at a job to millionaire. Let's get into it ready. Jack High five I Need high five Bro High Five High Five Bro. Oh he died.

Oh Nole Me: Look, let's be clear. today's economy sucks. It really sucks. It feels kind of like you bought a lottery ticket and you're looking at the lottery numbers and you're like oh my God oh my God Oh my God Oh my Go did did I win And then you realize you got one of the numbers wrong or more directly.

It's kind of like somebody giving you money only to steal it back slowly. It would almost be better if they just punched you in the face and took your money. Then the slow bleed that this economy is making everybody feel like they're in. It's painful, it hurts, and it makes it feel like the only thing that's left is your soul.

So today's video is inspired by JS 1985 who left a comment quote: no one special here making between $50 to $60,000 a year in this horrible economic State Looking for help in scary times like this. So first, let me be crystal clear: we don't even need music. You can do this. We can all get to a better place.

We can all get through this insanity. but hopefully this video gives you some insight into exactly how let's get started. All right You ready for Step One. Step number One And people don't like to hear this and I want to be clear? Step number One is not going to be for everyone there going to be a lot of people say, you know what? Look I've got family where I live Uh, I I can't do that feasibly Whatever.

So so step number one: consider it optional. Everybody's going to have their own personal circumstances here. But step number one, in my opinion, you're making 50 60k a year and and you want to get to that next level, consider moving to a high Cost of Living area. Ooh I said it.

Okay, that sounds intense. Most of the time when people hear that on YouTube they freak out. Most of the advice that you're going to get on YouTube is going to be people going. You need to cut your budget.

You need to save every dime you get your hands on. You need to live in austerity rice and beans and then you'll be able to get ahead. It's nonsense. It's complete nonsense.

What you should do is consider the following: why are certain areas of the country high cost of living areas and I'm not talking about a dump Lake San Francisco That's like the opposite. Okay, think about this. Miami Los Angeles Manhattan Why would those three places and I'm not suggesting you definitely go to those places I Hate LA's guts. Okay, San Diego is way better.

Okay, and so is Santa Barbara But anyway, What? Why would those be so expensive? Why are homes so expensive there? Why are rents so expensive? there? and why do people keep moving there? Same goes for Boston even. It's because that's where the jobs are. and so when you go to a high cost of living area, you can actually make more money. Think about this: When you go to replace an outlet, there's got to be some.

There's got to be an outlet somewhere around here. We'll find an outlet. Okay, there's going to be one over here in the bushes I Promise. Look at that.

Look how fast we found that. Okay, we got to replace this Outlet right here with this buried weather cover block. Look at that tamper resistant GFCI That is sexy right there. Anyway, you go to replace this in Chilicothe Ohio Maybe you'll get paid 15 bucks an hour to do that because everybody knows how to replace a GFCI outlet in Chilicothe Ohio Now on the flip side, you go to a high cost living area Los Angeles Uh, again.

Miami Or or the others. We've mentioned how many people know how to actually replace an outlet? Very few. That's because they're busy making money doing other things. Which means they have more money to pay you to do it.

And so this is what you have to think of when you're in a high cost of Living area. Yes, your expenses might seem like they're going up, or you do what smart people do and you actually rent something smaller as you get started. Again, this is why I say this isn't for everyone you know. If you've got family roots in a in a town, uh, that might be going bankrupt because they've got bankrupt ideas and no jobs are the only places are closing.

Well, okay, maybe maybe that's what you choose. you choose to stay put, but then you have to live on what you're making and start insulating yourself. But if you really want to make a change, you might have to pack up and move. And it's much easier to make it by renting a small place even if it's a studio just to make it in a High Cost of Living area.

rather than trying to make it in a broke town where there are no job opportunities. Nobody's willing to pay you for your time because everybody has time. You have to go where people don't have time. That's the hack because when you go somewhere people don't have time, what are those people willing to do? they're willing to pay you if I had all the time in the world I wouldn't need a single employee because I could do everything.

but because I don't have all the time in the world I have people. We've got like 15 people working for me to do different things that I don't have time to do. That's what you've got to think of. And there's also this like little side effect that I kind of want you to think of.

this when you have a lot of square footage, a lot of space. guess what people usually do? They feel it. So what I did with Lauren is purposely got us stuck into a 2200 squ ft home and now we have twins and two boys. We don't even have a driveway, we don't have a backyard and guess what I mean we have a tiny backyard, can't build a pool cuz there's no room.

can't buy more cars because there's no room. can't findy more furniture because where are we going to put it? We we were looking at like some artwork the other day and we're like oh that's really cool. Oh wait, we don't have a single bit of wall space left because we filled it all. See it's you squeeze yourself into a smaller space.

Guess what happens, You automatically start saving money and you get paid more for your time. Step number one: High cost living area I think I'm the only person on YouTube who actually suggests that find somebody else who gives you that kind of perspective and that's just step one, you ready for the other. Steps Step number two and know you're not going to do this right now, but everything that you do is going to be for the plan of eventually buying real estate. Look I Know rates are high right now I Know prices are unaffordable, but every single action you take every time you swipe that credit card, think about getting a car loan.

Think about getting some kind of other debt I Want you to think: don't buy another four-wheeler Okay, don't buy a forklift I Don't even know why I'm pointing at that. We're going to focus on everything. Every action that we take, We are going to think, how is this going to affect our ability to buy a home? You missed that payment on the credit card your home loan in the future in 5 years from now just got more expensive. You file bankruptcy.

Good luck trying to get a quality home loan within the next 7 to 10 years. Every action you take should be focused on down the road. How are we going to buy a home Now again? Why am I putting that at step two? Because we have to think about minimizing debt if you've got that new car, but you've got, you know, a crazy $1,000 a month payment or whatever. Maybe and I hate to say it, but maybe it's time to get rid of that because you're going to move to a high cost living area.

Maybe that's part of one. But number two is, you're never going to get out of this anchor. You have this anchor of a depreciating asset that will probably continue depreciating over the next 10 years. A new car is going to lose dramatic value over the next 10 years I Highly believe it.

Electric vehicles will lead to Rapid deflation in ice. Vehicles Those are internal combustion engine vehicles and electric vehicles will become substantially and almost exponentially, uh, cheaper thanks to companies like Tesla getting into mass production. So be very, very careful with cars, especially car debt because car debt is going to sync. you.

Remember this particular formula? If you have $1 of monthly payments, you have to go earn $223 to make up for that monthly payment. That's because we take take debt to income ratios used to be a license lender. Technically I can just renew my license it's only expired but I don't use it. so I don't But anyway.

uh, this is what I would tell clients is: Look, every single debt you take on is going to cost you $2.23 So that $1,000 a month car payment costs you $2300 2230, right? $100 a month of income. That's how much it costs you in terms of qualifying. That makes it like impossible for you would ever get ahead. So if we're thinking 5-year plan here, why would you ever, ever, ever sink yourself into a car? Deb Sell that sucker for a loss, get a used car and move on.

Now let's get to step three. Not bad for the first house house hack bot. All right, let's get to the next step. Next Step You may have heard this one before, but not the strategy that I'm going to suggest.

Now look I'm a licensed Financial advisor. You know this: I'm becoming a stock broker. This isn't personalized advice for you. this is designed to give you perspective so you can decide what you want to do with it.

But here's what you got to do. The IRS just raised the limit to contribute to a WTH to $7,000 per year. Now remember I Earlier in step two said everything we're going to be talking about is trying to get you to buy a house in the future or a townhouse. Whatever you know I hear people all the time they're like oh but Kevin I can't buy cuz it's too expensive in my area.

And now here you saying going into a high cost of living area well stop looking at four bedroom with uh you know, a pool and uh, this massive backyard I don't even have a big backyard. This house has 10 times the backyard I have Why? Roth Though Because here's what the Roth does for you right now with money market rates over 5% which you could easily get just Google Money Market Fidelity Money Market tro Price Money Market Schwab They're all all these mutual fund money markets are yielding roughly over over 5% Just check to make sure you get one that's low fees. What the beautiful thing about these is is you can own them in a Roth which means you could actually make that 5% roughly interest taxfree with money you contribute to the Roth After you pay your taxes. so you pay your taxes, you take up to $7,000 You throw it into the Roth.

Now you park it in a money market. You're yielding 5% now. Taxfree. Okay, but what are you really doing? Where you're doing two things.

You're creating one an emergency fund inside the wrapper of a Roth and number two, you are saving for your down payment for Real Estate. Now, how does that work? Well, the Roth is beautiful because the Roth actually enables you to do what. Withdraw your principle. You don't even have to be 59.

A2 You can withdraw your principle in a WTH for any reason. At any point, you can't withdraw your gains for any reason. But you can withdraw your principles for any reason, your principal, not your principles. The beautiful thing about this and withdrawing your principle is that you could use it to buy real estate.

So think for the next 5 years you contribute 5 * 7. That's $35,000 taxfree to a Roth Milk the money markets or something. Very low risk. over the next 5 years.

What happens after 5 years you have $35,000 You can withdraw penalty-free but guess what else? You could then withdraw up to $10,000 of earnings penalty-free if you're going to buy your first house now of course. always with tax things. Talk to a licensed accountant that is representing your best interest and your financial advisor right now. I provide Financial advice as well.

You can see that at Stack.com But right now for the purpose of this video, I'm not your financial adviser. but what's beautiful is that now you are milking taxfree money markets and you're going to use that tax-free money market to set yourself up in the longterm for buying real estate. That's the key that is the key to really building your wealth. Now unfortunately, you might feel like you're in a little bit of a hole and you might feel like crap I just don't make enough to even contribute to a WTH at this point I'm barely breaking even.

So what do we do next? Let's talk all right. So this is the hard part, especially since it's a tougher economy right now. The first thing that I always like to do is recommend: Talk to your boss, talk to your boss about what you can do to provide more value and I would be very transparent with them. I' just say hey, boss was wondering I'm looking to make some more money I'm down to work more hours I'm down to get another skill or license or certification.

What recommendation do you have for me so that I could work on at least getting to the path of making more money, right? That's different from hey, pay me more now and I'll work harder. That would be the worst thing to say because that sounds entitled. That sounds bad. That's very, very bad.

You always want to ask. hey, how can I provide more value and you will almost always get rewarded. If you don't get rewarded for providing more value for too long, might be time to get a different job. But anyway, so uh, consider this after you ask your boss that I want you to light the fire under your boss by starting to get a some sort of a certification or a license.

Consider this. Let's say you are are a waitress right now or a waiter, right? You're serving and you're studying. You know, college material. Or maybe you're done with college.

but you're a waiter right now and what do you do? You want to start taking on management shifts? Although maybe that's not the best example since sometimes managers at restaurant make restaurants make less money. Anyway, consider this: Start getting yourself licensed in one of these vehicles. ready for this series 65 Licensed Financial Adviser, Real Estate license, Nmls Lender Loan Officer right? You're basically at the bottom of lending and refinance. Most of them are leaving the industry.

Great opportunity to start building strong foundations. Uh, Drone license with a photography and matterport certification? Okay, I It's constantly a struggle to find good photographers that are willing to go out and actually work. So if you have, if you're willing to put in the effort, you could learn. watch Serge Relli on YouTube That guy's freaking amazing.

especially his interior Real Estate Photography Home Inspection certification Firearms Instructor private Pilots License Software Engineer Boy private Pilots License You know how much how many people are desperate to find Pilots right now? Oh, there's so much money to be made that software Engineering I Mean that's kind of like a classic go-to Now you do two things by doing this. Number one, you're setting up a potential second stream of income, but you're actually doing something even better. Remember how the earlier part of this step was to tell your boss you're looking to try to find ways to make more money, right? There's a reason for that, because now after you ask that, you get their insights and their Intel what do you start doing? oh hey, what are you up to boss? Oh okay, that's cool. yeah.

I Was studying for my test this weekend Oh test What are you studying for? Oh uh, you know, just working on, uh, getting my real estate license. Now all of a sudden, you at least send this subtle signal that hey, you know, uh, you know, if this doesn't work out, uh, there are other options for me. Be surprised. the people who work the hardest at advancing themselves tend to get the greatest opportunities.

The more you better yourself, you become better at what you're doing in your job. You help other people become better around you. You're a positive force. You're a positive force of energy within the office.

Whatever it is, you get noticed. That's really important. which reminds me I actually had to do a matterport 3D tour of this particular property. So I just knocked that out.

Uh, here's a little footage of kind of what that looks like. really easy to do with this this, especially since I can adjust the height so easily and it collapses down to fit into a backpack cuz that unscrews. The little part's pretty small. That's pretty small charges with USBC really easy I Didn't even intend to have a sponsored in this, but if you want to check that out, go to Metkevin.com 3D It is an affiliate.

Paid for promotion, but it's a product I regularly use. It's awesome. It's not worth doing the matterport. Pro 2 This is a side hustle right here.

That's it. That's it. It's a little kit. This is a side hustle on its own.

one. What is this? This is the 1in 360 edition. Like a lens? Yeah, check it out. 1 in sensor.

Oh yeah. Then there's the other part where uh, people talk about balance. Uh, I Found that one of the best ways if you're on your path to working towards becoming that longer term millionaire before you get into your real estate and all that is A I Like to call it dedicated balance where you spend really exclusive, committed time with people just sitting around with your family. It's not too useful.

committed date nights with your partner? uh, committed trips with your children or your parents. Those are the types of balance that I like uh, so I'm a big fan of work hard, then keep working hard, then play a little hard and then work hard again. Now keep in mind, even if you don't end up fully using a side hustle, if you even use it part ly and you intend to use it and intend to eventually make profit with it, technically, you could start writing off things that otherwise you might not be writing off with a W2 pay income. Which means you could pay off your phone or write off your phone.

That is, you could write off your laptop or, uh, part of your home for business use of home. There are a lot of cool things that you can do once you have a side hustle. even if you have a W2 job. see, people like to bag on a W2 job, but I'll tell you America has made it so wonderful that you could utilize a W2 job to qualify easily for Real Estate So now your goal is minimizing that debt, getting that higher W2 job, loading up that WTH and milking those tax benefits while using that side hustle enthusiasm to either negotiate more pay or potentially even find a great job.

And now you have more experience as you go into a great job. So these are really critical for setting you up on the path to buy real estate. Obviously zero to millionaire. Buying real estate would be a different video.

This is how to get you on that path to get started to Millionaire. There, There's one more big thing we've got to talk about. Let's just get through uh TSA here. So now you've got the income and the debt availability to buy real estate and this might be down the road, especially since at the time of this recording, interest rates are quite high and it might might seem unfeasible to buy today, But the time to buy will come again, so let's prepare for that and think about that long-term trajectory.

Our goal is going to be starting at about 25 or maybe 32. Buy one property at least every 7even years. If you're starting a little later, maybe buy a property every four years and rewrite this math a little bit, but it'll work roughly the same. Watch this.

You don't even have to start big. You could start with a two-bedroom one bath condo or a studio if you're a high cost of living area. At 25, you buy a place for 300K 32 400k, 39, 500k, 46, 600k, 53, 700k, 60, 800k Look at that. Now you've bought 7 Properties by the time you're 60.

So you could realistically start at 32 and be 67 down here and have $3.3 million of real estate. What you're going to do is every single time you get a homeowner occupied loan, you live in it, and as soon as you go to move to the next one, you rent out the prior and you get to qualify about 75% of that rental income you're getting on this one to help you here. And since there's time between your first and second purchase, rent hopefully will appreciate over time. Whereas your payment stays the same.

so you might actually be cash flow positive, you probably will be actually after seven years. No guarantees. Of course, we can't make you guarantees. You probably be cash flow positive for each of these properties, and then you'll be living in an $800,000 house with another.

uh, you know, two .5 million of rental real estate and by the time you hit 30 years. Look, this place is already paid off now. Maybe you've refinanced it in between to buy more properties, but this place is two years from being paid off by 60, right? Kind of crazy if you think about it this way. But this right here is the secret sauce.

because once you move, you have to have a roof over your head, so you're probably already renting something that is roughly the equivalent of this. You got to live somewhere you're starting smaller. That's okay, that's what you're trying to get to. And then as you grow, you move from a studio to a one-bedroom to a two-bedroom to a three-bedroom to a four bedroom to a five-bedroom Just a simple example, right? So don't buy your dream home day one, because then you make it harder to jump around.

Now moving's hard. It's not easy, but it's worth it because now your tenants. Every time you move to the next layer, you're not paying off the loan anymore. Your tenants are paying it off because you're always getting a 30-year fixed rate loan.

And this is how you become a millionaire for sure. #n gued because we don't want to get sued on YouTube But I mean look how simple this is. The equity that you will have built up here alone will make you a millionaire for sure, if not substantially more. hashtag not guaranteed.

Anyway, if you want more of this perspective, make sure to subscribe to the channel. There's going to be a lot more of exactly how to pull off every single one of these steps. And I've done exactly this for the last 14 years. So I know what I'm doing when it comes to real estate and I Can't wait to show you everything step by step.

Let's go.