저자: Kevin · 외국인
요약 보기
1800달러 연소득에서 시작해 목표(수익 확대·조기 은퇴)를 위해 목표 설정, 세금 절감을 위한 사이드 허슬, 신용 구축, 레버리지 부동산 투자 순으로 설명. 부동산을 주식보다 우선하고 주식은 대형주 장기 보유, HSA·401k 활용을 권장. 이전 S&P500 투자 대비 부동산 수익이 높았다는 과거 사례 언급.
다듬은 글
인사와 소개
This is how things started for me when I was playing RuneScape back in sixth grade. Well, back in 2009, I also had a job where I made less than $1,800 in one year. That's all the money I made. Things have changed dramatically now, here in 2020. What we're going to do in this video is talk about how to go from making well less than $1,800 a year to making substantially more than that, and learning how to retire early. We're going to keep the outfit while we do it, because, well, a) nostalgia, and b) why not? Y'all seem to like it on Instagram when I post it.
Let's get started. By the way, we're walking up to this house here that I haven't been inside of in about 60 days. I just bought it, and I kind of don't remember what I got into, so we'll walk through it while we talk about how to get to the next phase of life. The key's supposed to be under this bucket, but, oh wait, nope, there it is. This is how you get keys for a house when you buy it in California: they put it under a bucket. Hello, realtor. We're going to go through some steps here.
1단계: 크게 생각하기
Step number one, you might have heard something like this before, but we've got a twist on it. All right, and then we're going to get into the money-saving tips and the investing tips.
Number one: think big. Wherever you are in life right now, you have to ask yourself where you want to be next year, or even in six months. Usually people are like, "Oh Kevin, where do you want to be in five years? What do you want to be in 10 years?" That's so far out it doesn't even matter. It doesn't make a difference. None of that matters. No, we've got to think about where we want to be in six to about 12 months, because that's going to make us get up, get out of bed, and get ready to actually do those things.
So for example, you want to be a professional coder? Do you want to run a business? Do you want to do 3D scans? You want to be a licensed lender, an architect, a real estate agent? All these things, by the way, are amazing. Especially lending right now. There's so much freaking demand for lending right now. Consider becoming a lender. But anyway, you can even get your Series 65 investment advisor license in a matter of months. There are endless options for you. But by asking ourselves what we want to do next year, we start convincing ourselves: okay, great, let's get the licensing material now. Let's start studying the flashcards now to pass the test. Let's get into a boot camp.
How can we provide more value to society? There's a reason I trademarked the slogan "Providing More," because I realized that the more value I can provide to society, the more money I make.
Do I want to keep this? I mean, this is kind of cool. I don't know if I want to keep it, but it's kind of cool. Oh wow, I could probably build another unit back here. Always thinking about units. Oh man, this is nice. Oh, there's a swing. I got a swing! Oh yes, awesome.
2단계: 항상 "다음은 뭐지?"라고 묻기
Step two, and then we'll get into some money-saving and investing advice. This sounds like it's about to break off... uh oh. Well, I guess we're going down with the ship anyway.
Step number two: it's a great idea to always ask yourself, "What's next?" That's my rule. It's so much a rule that Lauren's kind of gotten sick of me saying "what's next." In my opinion, that helps us keep from being disappointed or depressed. Look, everybody goes through down periods. Life's a rollercoaster, right? We go up and down. But one of the things that consistently helps me get out of that is always wondering, "Okay, what's next?" Even when you achieve success, or you hit failure, dwelling on that is really bad. Once we start thinking to ourselves "what's next," we start putting that action plan in, especially if we combine that with "what are we going to do over the next six to 12 months?" So really, really important. Always keep simple rules. Put it on your wall. Just write the word "NEXT" on your wall, or put it on a piece of paper and tape it to the wall.
This is something I used to teach before the Rona, before the pandemic. I used to do these real estate conferences where I would educate people: how do we get a deal, how do we find below-market-value real estate? We teach that in the courses obviously as well. But it was fun meeting you all in person and doing it before the pandemic. And "next" is such a key four-letter word to include in your life, because it keeps you smiling even when things just don't go right. You just go, "Okay, no problem. What's next?"
3단계: 돈과 절세
All right, number three. Let's talk about money and tax savings. Everybody wants to save money. Everybody wants to pay less in taxes. When we think about money, we often think about saving our way to millionaire status. This can be very difficult. It takes an insane amount of discipline and an insane amount of time. It's a very slow way to build wealth. Even if you get to millionaire over 30 years of trying to save your way there, you're really cheating yourself from ever getting there, which is really disappointing.
This is where we hear so much about, "Oh, we're going to skip the Starbucks, or we're going to skip the Fastpass at Disneyland," and we've got to be frugal. Earlier this year, I spent the most money I've ever spent in my life on a vacation, taking my family on a Disney cruise. I'm so grateful I did that right before the pandemic. I certainly didn't time that, but I'm so grateful, because looking back, I'm like, wow, that was a time in my life. Kids are tough. Two-and-a-half-year-old and five-year-old: it's not really easy to go on vacation with them. But it was still so amazing, and the memories are absolutely beautiful. So I'm a big fan of "work hard, play hard."
The problem with money education right now is that we're so focused on "oh come on, five dollars' worth of Starbucks is worth 15 in the future." But I'd rather be asking myself right now, "Screw the five dollars right now. What I'm interested in is what can I do right now that's going to make me an extra ten thousand dollars?" That right there is a key point. Ask yourself what you can do right now to make an extra ten thousand dollars. If you're saying to yourself, "Well, that's easy, I'll go sell another house because I'm a real estate agent," that's how I made my money. That's how I went from making eighteen hundred dollars in a year to making thirty-five thousand dollars my first year, fifty-six thousand my second year, and then up from there to where I was making three-four hundred thousand dollars a year just selling houses.
So if I were ever asked, "Hey Kevin, how could you make an extra 10K?" Well, I'll go sell a house. I'll go do some open houses. I'll put the work in and sell a house. Or if you're a lender, I'll go do some loans. Or maybe you're a coder: you work for a week as a coder and you'll probably make 10 grand. Okay, maybe a few weeks, but coding pays ridiculously. So I guess it depends where in the world you are. But the point is: when I was working at Jamba Juice and Red Robin, Jamba Juice gave me like a five-cent raise, and somebody asked me, "Kevin, how are you going to make your next 10 grand?" I would have said, "Well, I'm not going to make it here at Jamba Juice or Red Robin." Okay, well, there you go. There's your problem. You're in the wrong place. You're not going to make it there. So where can you get the skills, the license, or the certification to make that next 10K? That's what's incredibly important. Ask yourself where you can make that next 10K. It's not about the freaking Starbucks. It's not about that at all. It's about that next 10K.
That also brings up the idea of: once you have this idea of making money in a different way, how can you actually save money? Taxation is such a key to helping us build our wealth and make money. This is one of the things I recommend to everybody. We talk about this a lot in, for example, the Psychology of Money course, on stocks, in the Psychology of Money, or in the real estate investing course. All of these are linked down below, and there's a coupon code down there as well. But one of the things we talk about is: no matter who you are, you should be thinking about having a side hustle of some kind.
The reason you want a side hustle: let's do an example. Let's take some headphones out. Let's say I got these used for a hundred dollars. You know, the AirPod Pros or whatever Apple AirPods. I know it's kind of weird because it's something you put in your ears, but let's just say we got them to make math easy. You got them used for 100 bucks, or you got them new for 100 bucks. We're just making an example here. So you get some headphones that are 100 bucks. Well, if you pay about 30 in taxes working your job as a police officer, fireman, teacher, or whatever, what happens is: when you buy a hundred dollars' worth of stuff for yourself, because you want the AirPod Pros, you actually have to make about $142. Because you make $142, you pay $30 in taxes, and then you're left with $100, which you can then use to buy the headphones.
Well, enter a side hustle. If you have a side hustle, let's say creating YouTube videos, or maybe you're really good at cooking, or you've got a side hustle doing 3D Matterport scans. I did a 3D Matterport scan of this house myself. You can do that for other people. If somebody were local, there are plenty of people out there that do it. I should probably just ask, but honestly, if somebody's like, "Kevin, I'll 3D scan this house for you for 150 bucks," I would tell them to go do it. They could get that done in an hour and make 150 bucks an hour. Boom, like that. They could text me to set up the appointment. It'd be that simple. There's a lot of demand for that out there.
But anyway, if you now have the side hustle, and you're like, "Well, during my Matterport scanning, it's a necessary and ordinary business expense for me to have some sort of headphones so that I can answer the phone, respond to text messages, and set up other business appointments," then this could be deemed a tax write-off, essentially a tax deduction against your business income. So now all of a sudden, you've got one person who just made $142 to spend $100, and they're left with zero. Then you've got somebody who has a business, a side hustle. Again, a side hustle could be anything. You just have to look around and go, "Okay, what do I want to do? What's my side hustle? Is it doing demo out of houses? Is it installing windows? Is it doing electrical, because I have an electrician certification? Is it doing 3D scans? Is it doing roof tune-ups for people? Installing Christmas lights for people? Making a YouTube video talking about doing those things?" Whatever. It doesn't really matter what it is. The point is, you've got some kind of side hustle, and you need the headphones. Now what happens?
Let's say you make $142 in your business, and you buy these $100 headphones because it's a business expense. Now you get to write that off from your income, so you're only paying taxes on $42, the leftover $42. You're paying 30 percent on $42, which, to make the math easy, let's say is $12. That means you're left with $30 in your pocket, and the Apple Pro headphones, or whatever AirPod Pros. The other dude is left with zero in his pocket. Both of you made $142. Both of you ended up with the headset. You got $30 in your pocket. The other guy got zero dollars in his pocket. These are just the little things that are going to get you ahead.
4단계: 신용 쌓기
Let's keep talking about this. Next, if you have not yet, and this is almost like a prerequisite before we get into retirement accounts and investing in stocks and real estate, all that good stuff: you have got to build credit. The easiest way to build credit is, well, you could watch my video on how to build credit step by step, all about credit. It becomes really easy to understand how credit works. It's very, very simple. So if you don't know much about credit, get into that as soon as you're 18, or if you're already over 18, open a credit card. Obviously, you can start with the Apple Card if you have an iPhone or something like that, or if you don't, a Citi Double Cash card. And of course, whatever you do, pay that thing off every single month. Carry no balance on your credit card. That will actually help you boost your credit score. Do not carry a balance. That is a myth. In fact, every time I see a balance increase, my score drops right away, so keep that in mind.
Oh, Gimbal doesn't like turning in the Tesla. We're about to turn this thing on autopilot, and then we'll talk some more. Okay, perfect. So establish credit. Really, really important. If you haven't done it yet, do it. You can also vary your lines of credit by getting a personal line of credit. You know, pay these things off, though. A home equity line of credit will help you too, but right now just focus on establishing credit and paying it off. That's it.
5단계: 부동산
All right, let's get on to the next. These are really important for building wealth. In this next section we're going to talk about real estate, but I want to say something up front. Lately the market has been so competitive that I've been doing anything possible to find deals before they hit the market. This is how I can usually buy properties much more frequently below market value. In order to do this, I've partnered with Deal Machine. Deal Machine lets me drive by a property I see that has potential, whether it's multifamily or single family. Maybe I think it's a fixer-upper, maybe there's some potential, or maybe there's a reason these owners want to sell. I snap a picture of the property, I pin the property in their custom app, and the app will automatically follow up with them and send them flyers letting them know I am ready to buy their property pre-market, without realtors, saving them realtor fees and letting me buy the property substantially below market value. Wherever the owners live, whether they live there or not, that's where they'll get my flyer. Check out Deal Machine. If you use the link down below or go to meetkevin.com/deals, you'll get a bunch of free postcards you can mail out too, just to try it.
Now, there's no shortage of internet gurus telling you not to buy real estate, that buying a house is stupid, that you should always just rent. In my opinion, this is by far the biggest financial mistake individuals can make. Here's exactly why. First of all, let me clarify: yes, there are big pitfalls you can fall into when you buy real estate. Let me give you a couple really quick. A lot of people try to buy their dream house right away. Big mistake. Buy something similar to what you're renting, and don't over-improve it. Don't turn it into this Chip and Joanna Gaines HGTV house just so you can show it off. Anything you do in construction becomes old after about three weeks. You're over it. It's a waste of money to over-improve real estate.
Instead, you should take advantage of this, and this is what we did. The fact that you can put 1 percent down with down payment assistance, 3 percent down, 3.5 percent down, 5 percent down on real estate and control with three and a half dollars, or one dollar, or five dollars, a hundred dollars' worth of real estate. So when we think about it that way, it's like, wait a minute, I can control with ten thousand dollars a hundred thousand dollars plus of real estate, which is freaking awesome. Here's how that benefit works out. This is a real example. Lauren and I took the $20,000 we had when we were both 19 and 20 years old and put it into a boring S&P 500 index fund. Yeah, it's diversified, yeah, we're investing like the market, woo, cool, we'll be rich one day. Well, over the last 10 years, that money would have tripled. We would have turned that $20,000 into $60, maybe $70,000. That's great, cool, that makes us great investors. Not really. It's boring. That's not going to get us anywhere with $20,000.
We instead decided to buy real estate. We bought our first house. We got a house for three hundred to five thousand dollars. We financed the fix-up. We put 3.5 percent down. This let us take control of basically a house that was worth $450,000 in a $300,000 neighborhood. The bank's paying for our fix-up for us. And all of a sudden, today we have a property worth somewhere around $675,000. Now, if we were to sell that property, which we're not going to, but if we were, we'd not only be able to take tax exclusions on that gain, which we can't do in stocks, we'd also be able to walk away with somewhere between $250,000 and $300,000 in cash. Compare that to the stock market.
Now why? Obviously it has to do with leverage. We took out a big loan to be able to buy that property, and that creates a lot of fear: "Oh my gosh, you're responsible for that!" But the beautiful thing about owning real estate is that you have so many backup plans. The biggest backup plan is: what's your monthly payment, and what can you rent the property out for? If that number is positive, considering management fees, vacancy, and fix-up between tenants, then you're good. Even if you had a slight negative, you have to ask yourself, even in a worst-case scenario, two or three hundred dollars negative per month on a rental property. Not that you want to be negative, but what's that costing you? $2,400 to $3,600 a year. Even if I paid $3,600 a year for the last ten years, that's an extra $36,000, and I'm still way ahead on my real estate.
Sure, you can get debt on stocks, but you've got to be careful with debt on stocks. Margin is dangerous, because if the market falls, you can get a margin call, and they can sell your stocks and liquidate them right away to protect the principal. That's the danger of taking out debt on stocks. Whereas with debt on real estate, the bank doesn't care if the market value of the house I own goes down. If it goes down half, the bank's not going to call me. If it goes down 90 percent in value, the bank's not going to call me. The bank doesn't care as long as they get their monthly payment. They're happy. And guess what? If you don't make your monthly payment, well, I've said this since before the pandemic: usually the bank's willing to work with you. The pandemic proved that. During the pandemic, people couldn't pay their monthly housing expenses, so what happened? The government instantly stepped in and set up a mortgage forbearance requirement. Boom: 12 months, no payments, no problem, no harm, no foul. Just raise your hand, you want mortgage forbearance? No problem, here you go, 12 months no payments. What did they do for renters? Nothing. People with assets get bailed out first. Realizing that, and not saying we want to rely on bailouts, of course, but realizing that: okay, so if we start controlling assets in a relatively safe way, we can take on 30-year fixed-rate debt, and we can massively multiply the wealth effect we're able to build. At the same time, we take advantage of tax advantages, whether that's in real estate or having a side hustle. We're expanding the value we can provide to society by documenting our journey on YouTube, or by getting a better job, by learning to code, doing 3D scanning, getting licensed, getting certified, becoming an investment advisor, becoming a CPA. There are endless jobs, and there's more and more demand for all of this. Heck, you can do virtual therapy nowadays. You don't even have to go into the therapist's office anymore like Tony Soprano used to. It could all be virtual over face time. There are endless opportunities to provide value. But the point is: get into real estate, and then take advantage of the three awesome things you can do.
One: the more real estate you control, the more real estate appreciation you get to benefit from. Yeah, values can go down, but in general, as long as you're buying in areas where the population is increasing and the poverty rate, a second good metric, is decreasing, that's a good sign you're in a good area. You want to be in an area that's future-proof, not too small, where if one school goes bankrupt, the whole city's going bankrupt, or one oil well goes bankrupt and the whole economy's going bankrupt. You want to be somewhere where people want to live. It doesn't matter what jobs you have out here. People want to live here. People will always want to live here, because it's the Southern California coastline. We don't need jobs; we just need the weather to stay what it is. Even though we get fires, fire season is something you deal with in California. But there are attractors to different areas, so keep those in mind: attractors to the area, poverty, population. Very, very important metrics. And appreciation obviously stacks with your principal paydown, something you don't get when you're renting. Every time your bill comes in, you're actually building your wealth, because you're paying down debt you'd have anyway.
The second thing you get to take advantage of when you buy real estate is house hacking. We already know how this works; we've heard about it many times. You can rent out a room, rent out a couch. Some people Airbnb a spare room. All this extra income helps you pay your mortgage, to where your net effective payment is substantially less than what you'd be paying in rent. Now, this doesn't mean go buy a house that's much more expensive than you need, because that would be bad. You also want to take advantage of bank hacking. Bank hacking is when you buy a one-bedroom house or a two-bedroom, one-bath house with 5 percent down. You get a good deal on it. You buy it below market value, like I teach on this channel in my investing course. Then after a year, maybe even after nine months, you start looking for your next house, and you buy a three-bedroom, two-bath with 5 percent down. Then you buy a four-bedroom, two-bath with 5 percent down. Then a four-bedroom, two-and-a-half-bath, then a five-bedroom. All of a sudden, before you know it, five or six years go by and you've literally bought five or six properties with 5 percent down, because you were buying them as good deals. Your wealth is exploding. You're getting mortgage insurance knocked off your first properties, because you bought them below market value. You realize that mortgage insurance isn't that bad, because you're not paying it for 30 years. You're only paying it for two to three years until you get rid of it, because those are the rules set up. You can apply to get rid of mortgage insurance, or you refinance, and you keep going, and you keep building that wealth.
6단계: 주식
Okay, you all know I'm a fan of real estate, but let's not only talk about real estate. Let's talk about how stocks get involved. So what about stocks? Here's the thing: if you haven't yet, obviously get into it. Even if you get $20 or $30 out of it, it's a random lottery. Hey, that's $20 or $30 you got for five minutes of work. It's a great stock trading platform, especially since you get these four-hour pre-market windows and four-hour post-market windows. It's awesome. Check out Webull, link down below.
Here's the thing. Swing trading stocks, day trading stocks: these can be profitable side hustles. If you want to make that your side hustle, you have an opportunity to do that as well, and maybe that opens the door to some tax deductions. It's an option. But for the vast majority of us, the best thing we can do is pick the top 20, 30, 40 companies that we know and love and that we think are going to be here for the next five to ten years. We take that group of companies, we throw money into them, and we pretend we can't do anything with that money for the next five to ten years. That means don't panic and press the sell button when the market goes down. Disable the sell button in your head. When you have the psychology that you can't sell, you will always continue to add to your stock market portfolio. Much, much, much better way to do it, but only do that after you start investing in real estate. Real estate is very, very important. Get into real estate, then build your stock portfolio. It's really important to do it in this direction.
Now, sometimes it makes sense to put your money in the market while you wait to buy real estate, but you have to be careful, because then you're trying to time the market in the short term. I don't really prefer this as much. I'd much prefer to buy real estate, then buy stocks. Then what happens is your stock portfolio actually becomes your emergency fund for your real estate. If you ever had a really big catastrophe come up, you could always sell your stocks and use that as an emergency fund for your real estate. So real estate first, because you get that max leverage. Then get into stocks. Don't use margin, because it's bad. Great.
7단계: 세금 혜택 계좌
So how do we now get involved with retirement accounts? Where should we start with special tax-advantaged accounts? Let's talk about those. All right, the next thing you want to do before the sun sets: if you're younger or generally healthy and you have a high-deductible health plan, which is usually like $5,000-plus for the deductible on your health insurance, make sure you get what's known as an HSA. Oh, I need an energy potion to get to the beach. All right, here's the scoop. A health savings account, an HSA, is super, super critical, because you get to deposit money into this account and trade stocks with it. I opened this like three years ago and put all my money into Tesla. Let's just say I'm really grateful I did that. That was freaking awesome. I got lucky on that one. But here's the thing: you open an HSA, which you can do. I've got a link down below for Lively. Go to meetkevin.com/lively, L-I-V-E-L-Y. It's a free platform, use that link, it'll be free, it's awesome. Set this up. This lets you contribute somewhere between $5,500 and $6,000 per year, depending on what year we're in, into a health savings account. It's really awesome because you put the money in, say you put $6K in, and then you get a tax write-off for doing that. So if you pay 30 percent in taxes, you might get $1,800 back. Always check with your CPA. I'm not a CPA, so I can't give you tax advice, right? Anyway, you get $1,800 back, or it's an $1,800 deduction. Money you're not paying taxes on. That's great.
Now this money is sitting in a stock account. You can buy stocks like at TD Ameritrade, just go shopping for stocks. In the future, if you have medical expenses come up, you could use this money you got a tax deduction for putting aside to pay for your qualified medical expenses, which is almost everything. Google "qualified medical expenses" and see. But you have to have an HSA-eligible plan to do this. It could be a PPO, it could be an HMO. Do some shopping around. This is really smart, because you're getting a double tax deduction. You get it up front for putting money into the account, and then you can use the money, without paying taxes on the gains on your stocks, to pay for medical expenses you'd otherwise have to pay out of pocket, which wouldn't provide you a tax deduction. So you're getting this double benefit. Fund that account. HSA is really, really important.
On top of that, folks, if you get a 401(k) match, maximize the match at your job, wherever your employment is. And of course, if you're self-employed, look into things like a SEP IRA or a Simple 401(k). These are great ways for self-employed people to put some retirement money away. Once you get through that real estate step, and always start with real estate, you're taking your stock money and putting it to use, not only in stocks, but also as an emergency fund. Worst case, you take it out, you pay a little bit of penalties, but you've got the money there as an emergency fund. Notice I never talk about high-yield savings, because that's the biggest scam that exists. Get your money invested. Then do these things. Now you're set after you maximize all these retirement benefits and options. Then put it into a regular investing account, but not until you do all of these things.
By the way, this entire video was filmed on a new iPhone 12 Pro Max, and this is not how you should test an iPhone. When the sun has set and you're standing on the beach on a very windy day, you're going to get crappy audio and grainy lighting, which is both of what we have here. But hey, I got my iPhone 12 Pro Max video test done. If you want to see the absolute most ideal environment for this iPhone, if you're ever going to shoot on an iPhone, go to the beginning of this video: shooting outside on a gimbal, and ideally wearing a lapel mic to get that proper quality. That's what I teach in my YouTube course. You've got to fix the problems with the iPhone, then you'll have a phenomenal phone to shoot on. Don't do what I did here and shoot in a noisy beach environment after sunset. You're going to get crappy audio and not such great visuals. But let's go ahead and finish out the video.
마무리: 반복하기
What do you do once you're done? What do you do once you've gone through these steps, you've done the real estate, you've done the stocks, you've done the retirement accounts, you've gotten the better job? You repeat. You repeat as often as possible, until you get to a transition point in your life when you go into payoff mode. That's when you focus on dividend stocks, paying off your mortgage, and paying off your debts. Until you are in payoff mode, do not focus on paying off your mortgage. Do not focus on paying for or buying dividend stocks. Uh-uh, wrong phase of life. Focus on those things when you're ready to start getting into that retirement phase. Until then, you focus on growth and building your real estate portfolio by rinsing and repeating what we talked about in this video.
Folks, if you like this, give it a share, and consider subscribing. See you in the next video. Thanks so much, and enjoy.
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