In if you watch any ticker CNN Fox those are u.s. News sources, but if you look they always mention value S&P 500 and that is the index of the whole Market just invest in the whole market. And what I'm going to say is if you just keep doing that look at what Jeremy's done look at how it's done to me. My portfolio alone has grown over $200,000 in this year because of the fact that I just invested in the index funds and that to me is quite crazy in mind blowing, you know by using Hey, what's good everybody? And thank you for tuning in to episode 14 of Highly invested where we invest in ourselves talk about personal finance investing business and personal growth while asking entrepreneurs about the investments in time money and energy that they've made that have gotten them to where they are today. I'm really excited to have a guest on from Texas. He is a consultant and he runs the Instagram account J Millennial now. I must add the J Millennial is anonymous so I don't actually know his identity but he's got an awesome Instagram account that you can go follow each a millennial one thing that really caught my eye and I'm very intrigued to ask him about it tonight is that he plans to be a millionaire by 30. So we're going to find out all about that Jay. How are you doing tonight? I'm doing well. Thanks and Han Jung han-soo annyeonghaseyo. I don't get to use my Korean very often. So it's nice to be able to practice that with you. Awesome. Well glad to have you and so we met through Instagram and you tell me a little bit more what gave you the idea to start this account? Oh man, so I was actually blogging a lot my personal account just saying. Hey, look at this. Look at that and everything was finance-related. I used to talk about this guy Financial Samurai and everything and it seemed like no one was interested until one day's one of my followers told me. Hey, you should actually just This off and make it an Instagram account. So right lo and behold I did start it off with a hundred and now at three thousand things to everybody. Yeah, it's amazing that the progress we can make on there and for listeners, you might not be able to see his profile. But if you do not follow Jim lineal, you should go follow me. Even if you're not interested in finance. He's the most interesting guy on Instagram one of them at least I have to give you credit there Jay like he flips TVs all the time seems like he makes a profit every day. Don't know how he is the time. He's a big car buff, but he Has really ambitious goals with money. So if you need someone to kind of motivate you that you can follow on your feet. This is the guy to go to so Jay how many aside hustles. Do you have besides your main job? Oh my gosh, you know you had me thinking there because I was going to pull up that screen shot of where I pulled up the different side hustles ride. Like yeah, it's the Graham and I swear I do. Well, I have it right here so I can go through it. So you've got obviously your besides your main job TV reselling Tube dividends from your Investments and then from Real Estate. Oh, yes, that's all correct. And there's another one called royalty because Amazon is not there since that's still a growing income Stream So tack that onto there and I'd say I have six that's awesome. And from the post here, you can see the total income from TV reselling you've made and is this just this year or what you've made since you've started that's just not even everything. I think the post that you're looking at is how long it took to reach $10,000 over income. Yeah. Sorry that that is Exactly the post I'm referring to here. Right? Right. So what it is is that you see there's a start and end date on that. We're all I'm saying is if you invest your time into each of these different income streams, it takes this long to make that much money like an YouTube. You see that takes a long because you have to build a following you have to get people to root for you and you have to really stand out from the millions where otherwise right look very silly. You just thinking of very hot product from marketplace where you just buy something that's really low because you set alerts and then you just flip it right on the same Market. Right, you just got to take a bit of initiative and that that's really all that goes into it. Exactly right. So for some context here, then it took for TV reselling you made $10,000 in 390 days. So that's a good year in a bed of efforts. Yep. So worth it YouTube y'all I'll skip YouTube and save that for the end. The dividends was six hundred and seventy seven days pretty great because compounds going to even going to do all the work for you still so, you know just contributing and then real estate 361 year 366 days, but YouTube was the longest for 2191 days. So when you talk about starting something but slowly taking small steps and sticking to it. That is the prime example absolutely amazing. So, can you tell me like maybe a little bit about what you've learned doing each one of these side hustles. I've learned that. The TV reselling is really interesting Market because I've met so many different types and kinds of people like you go to people's houses and then you're just trying to look at it. And of course you're trying to be safe, right because you know, you never know if it's someone that's shady or not shady true. Yeah, it's really pretty direct because you have to weed out the fraudsters and not see you start putting your cards up and saying well, I think think I'm not going to go for the transaction or you say Hey, you know, I cannot meet this person or hey, I can meet this person and it also makes me think about time right because time is of the essence and then flexibility. So sometimes, you know, I'm sitting at home just playing video games and just working on YouTube and then suddenly people are like, hey, I want to meet so just go down the street still the TV comeback this who it's very different kind of life versus YouTube Right. You've got to think about so many different things right even forget your own highly invested. You have to think about this is what you got to do. This is how long it's going to take to do it and how I'm going to monetize it right different ways. Yeah teaches you a lot a lot of lessons but like for the TV reselling yeah, it's working on your people skills. Whereas YouTube it's like okay creativity, especially Spanish. A lot of people that speak Spanish and you don't have that skill half of those TVs wouldn't be sold and I can assure you that. Oh, that's so true. And so are you fluent fluent Spanish speaker as well? I would say just a touch of Spanish. I don't want to get into a conversation about that but they're okay enough to make the sale. Okay. Well that's helpful then because I I speak French as my second language. It's not very strong and I spent quite a bit of time away from Canada where I forgot most of it, but I have been working to practice more of it. So very valuable to have that. Asset absolutely. Yeah, so who taught you how to hustle? Oh my gosh, so I think it's not necessarily who taught me how to hustle but how I learned that I should be hustling. Yeah, and it's a really having a background where I didn't have much growing up like I grew up in a fifth sixth grade and started realizing. Hey all these people have iPods. They have game boys. They have all these things. So I'm going to admit that. I wasn't a very good student in the past and you know, I guess partially because of social Nations and circumstances that I did not have a lot of things so I didn't do those things. I did other things that were not as great. So ultimately as I progressed, you know, I got out that bad boy type of deal and then I went into learned about stocks learned about real estates and this is just like trial and error over time. Yeah and all because I didn't have these things growing up. I just I told myself I need to get these things growing up. So I made those the target of what I wanted to get and of course at my engine at mindset has shifted over time. Yeah. It's very Will wonders roughly to get at a young age because if you can realize that you get value out of different things if something is not for you, it's a distractions. Yeah, and I like to tell a story that's different from what I saw in my pages that I was on this game called second life back in 2009 and mine that's been years ago. So I was like 14 or 15. Yeah. I know exactly. So, how do I do that? Right you have to know how to photoshop you have to make textures the side of objects and then you make a car in the resale that for in 300 times and then you have enough to buy an iPhone. So I realize oh my gosh $200 in this is for me being like in high school right where people are going to their jobs and making like eight dollars an hour and I make 200 in the month just because of this things you find the opportunity and it really capitalize on that that way and because my motivation was an iPhone. I mean like an iPhone is cheap nowadays you don't have to before but when you You up to it? That's a high goal for you to set and really work towards right having that goal is just it's the best thing to even attempt to start. And so, how are you? How are you making money story from from second life? You were monetizing. Yes. Yes. So I'll explain it in like less than a minute. Okay. Try your best. Yeah. I'm interested. Yes. Yes, you have these boxes that you rearrange texture and everything. It has like 32 different shapes and you can collect them all 32 objects at one time and you can make it into a car a house furniture anything people go to. Second life because they trying to evade, you know, their first life right? Because maybe it's not so cool and everything and for me as a kid, it's everything because you can build Ferrari and build mansion. Hey, so I learned in Photoshop you can actually text your vehicle's make tent make modifications and just slap them on the side of these objects that you craft and then you can build them into a vehicle and then there's a Marketplace for these objects or people by with real money. Okay? Part of the time but I'm like people can pay me for something that I create out of Photoshop. So I would use these like three income generators. Like I would Camp adds a place. It makes me like ten Linden's and our something like that is enough to upload one texture. I only need three textures to make a car and then I resell it for 200 Linden's and then redo that for like, you know many thousands of sales, right right and with practice you just get better and better and there's your first services like you're the Creator and now you're providing value amazing. Yep. Provide value people are definitely going to watch it right like this podcast YouTube channel, as long as you can show your value people will flock to it and they'll be willing to return and that's how you make money. Yeah, that's an important message. I'm learning that and the main thing is I'm not going to stop it's been a lot of fun too. So when did you really start planning your life out as well? Because again, I can reference your Instagram account forever pretty much but so you started setting your goals or at least writing down your goals at age or sorry in the year 2010, I would 2010 I had the goal 2012 is when I actually started planning towards that goal. Okay. So what I learned, of course, you know through my parents parents instilled me with paid to get good grades and I thought it was funny because they were in they did not get like a great themselves. Well, my mom was a valedictorian but my dad was like a sea student. I've been telling you to get the variance so it's like okay, but I told myself and I flipped because I didn't like school at the time. I said, you know what I'm gonna get these good grades because if the job or interviewer Steve's me and the exact grades. It's probably going to look good on my Oh file, and it's going to look good getting to college. He's getting its companies and then all that stuff, right? Yeah and more people won't say that they're going to say, oh, you know school sucks and everything I say, you know what? No, no, no think about it like this do well in the job that pays well or a towards a career path that pays well and you're going to see it. Like people saw my GPA coming out of high school and college and you're like this guy is probably good. Let's take yeah, that's that's another difficult. Yeah, and I thought I missed it. I know the question was around when I started planning, right? So the plan was I needed to get this and The steps were I will do these things. So I guess I could save 2010 was that because in high school I told myself I need to be valedictorian so I could get this job so I could get this better job which will pay me so much and I can buy a Maserati. So that's that's how it works. Right? That's true. And at least the mentality got you all the way through into where you are now, so that answers my question. Well, thank you. It goes to show that for anybody that wants is quick success is no such thing. You've gotta at least build your own Vision First. Convince yourself that you can do it and start taking those steps. So good on you Jay. Keep doing it. All right main thing I'd like to ask all my podcasts guests to think of three big Investments that they've made in their life doesn't have to be with money. It could be with time or with energy, but three big decisions are choices that they've made that have ultimately helped gets you to where you are today. So can you think of three things or any stories that you can possibly share with the listeners? Yes. Absolutely. And one of them I feel like is having very strong family relationships because At the end of the day and families our blood. So I feel like if you don't get along with your brother's your sisters your parents that is going to have some lingering thought in the back of your mind and I did feel that at some point in my life. But over time, you know build very strong relationships with the people around you of course starting with family. If you have a very good family support you tell him he's crazy goals, they'll support you they might laugh at you first, but they're going to 100% support you and you know, even my brother's talking to me sometimes I say, you know what let's think through this together and I'm going to come This will help you plan because I'm well invested in making sure that they're successful and they're vested making me successful because of that bond that we have together Ryan up you want success for everyone in your family just like you'd hope right. You would expect the same. Yeah with that. So that's one big thing that I can take away and to this day. I can just hit up my brothers and say hey you want to split a Ferrari look at the left. Let's do it. But yeah, I hope the response would be, you know, kind of following in your footsteps. Okay? Well, let's sit down and think about how we can actually pull this off right get that much closer to it. That's a that's a good point family relationships are very very important. It's a two-way street with every family member as well. But certainly very good to have that support. Yes. One get them Family Ties. You definitely have to have those people to lean on what be another one. I guess the second one would be. X right investing in academics is huge and people say like to mention College everybody's like you don't need something to make College. Well, you know, if you know deep down in your heart that you have a product or something that you can sell and you can invest yourself 110% in that please go ahead and do that. Yeah become Bill Gates to become Tesla. Other than that, you're only happy invested. Please don't invest in that find something that you're invested in and for me that was the academics because I knew the path was the academics would turn into a job which would turn into all this Career Success right options. Freedom right and not just investing in academics but investing it in. double look years and see that it was going that is going to be a good decision like job prospects going up 20% year-over-year. You have to look for things like that as well. Yeah for you say I'm 100% committed in that career. That's so cool. Yeah, and what I'll say is that some people were super invested and I asked him, you know, are you very invested in this path? Some people would tell me you know what? I don't know and people come up to me and literally tell me this in Instagram and I say, you know what let's let's find you something and let's see if any of these things. Tonight she was just because I'm an IT guy, right? I'm going to try to get you into it before anything else. Yeah bases web etcetera. Some people are like like his web design, you know web development looks awesome. And I say well the job prospects are awesome go that way and then that person became a very good web developer. You see like some other people and trying to get them in that direction like well now if people don't have the resources that's where people help people reach out to me as well. You know, definitely I all the DMS anything about career Academia. I answer everything to the best of my knowledge of course of not like everybody's knowledge, but I'll try well that yeah, that's super helpful of you and not everybody's When do be that responsive so it's great that you you just take that on to help people out. Yep. That's great. And so what did you study with? What's your background from from your schooling? I studied information systems and it is not a top school by any means like in California. You have like your Stanford your you see I went to like a CSU Cal State University. It's like one above Community College. Okay, I went to the best CSU that I could find within reason because I live in Delhi area. So I just picked one that was close by Bye just to save money right because I look at the cost practical. I'm like, yeah. Yeah expensive right house. Oh, I think it's crazy man. I couldn't imagine being a Canadian looking in like oh University crazy this stage. Oh my gosh, but that's a good approach that you took because I forget which book I read. It might have been a Malcolm Gladwell one, but better to be a big fish in a small pond than a you know, what's interesting is it's not fish in a big pond. Oh, yeah. Yeah. Some people took that advice and you know, that's cool that I want to never shared that video. No, no 40,000 people that watch that video if you liked it and they thought my advice was realistic. Yeah, I would agree if I go to Stanford and fail and fail really hard. No one's ever been to look for me. What if I can do very well is well, that's not his loan and come out, you know, 4.0 valedictorian or summa cum laude and cum laude any types of waters. Yeah, you're already a better playing field than anybody else. Yeah fact that that's huge. Like did you Did you read that book before you made that decision or was that just something you came to a conclusion on your own? I came to a conclusion on my own actually, I and I don't know why I thought of it because everyone kept telling me Oh my gosh, you went to a bad school and I'm like I know exactly what I'm doing. And you know now that I'm here in a position. I look back at other people that went to others College ins and I'm thinking wow, you know, it's a big difference where you ended up because of how you handled it like a GPA became as below or something like that, but I arch all the people Students to think about those kinds of circumstances of how that can change 10 years down the line when people are looking at it. Think about someone looking at you where your app to be from that other perspective. If I'm looking for you 10 years down the line looking at yourself. You can see think am I going to be proud of that that I in school, you know struggling on his classes or that guided excelled in this others go around. Hmm. No, it's just the perspective. Yeah. I know that that's so true man. I hope as many Americans or US citizens can listen to this as possible and get your advice because It's so true. It's not worth trying to struggle just almost have that title of Stanford or a big Ivy League school, especially if you can shine somewhere else people will notice you and you prove the theory right man. You're smart guy. Amazing awesome. So Family Ties closer close family ties. We've got Academia. What would be your third one? Okay, third one. Would be and I invested a lot of my time. Just trying to get a Maserati. Of course. That's amazing Jay. How close are you to getting it? Now? How close am I? I could buy that car six times. That's a very good feeling to have so you're getting closer. Yeah. Well people is that's now that life level I don't feel like I'm going to get the value out of it that I thought I would when I was dreaming about it. That's very humble of you. That's a tough one and it's a tough call to make right because I could be sitting in my Maserati right now and all the haters, you know, yeah, like cinnamon. Right? Right. Yeah doing dots but I'm not and I feel like part of the reason is I spent time finding value. What's going to give me the most value out of it, right? Yeah, and I feel like when I do these things that I do TV reselling other things, I think my time is valued at $60 an hour seven dollars an hour and I won't settle for anything less than that. Right if I might Maserati and I'm spending more time fixing it than than what I could have used that time for it making money or inspiring others. I feel like that's lost value, right? So as much as I can get into that part, I don't see it's part of my personality as much because of how my personality has shifted. So if I do get it someday, you know, maybe that's that's cool, but I'm Perfectly happy where I'm at. I guess, you know good. That's that's wise of you. I mean, it's like I guess getting to the end of the rainbow and realizing that it was all about, you know the growth that you went through getting there. Yeah and I feel like invest time in so aside from Academia and all this invest time in finding value in your time as well. Right? Yeah, and I hope that makes sense because this this is just stuff that I did not come prepared with yeah, it does and it's different for everybody and that's why it's just I like encouraging conversation. Someone might listen to this and that might trigger something that they've had an idea to do and maybe they'll do it so that it totally helps right? So think about it like this, right? Here's an example if you're a guy selling video game. Games video games are very hot. But what's the profit margin maybe five or ten dollars per game? Okay. I love ya make it thirty dollars that awesome. But how much it was that worth your time to search for it procure it sell it and then make sure that people are happy with it post self if that is only $10 to you and you saw in video games and you can tell that a lot then awesome, but for me, right you get a higher ticket item or it's actually worth $100 of my one hour, right? So if you can think about it that Wait, it's going to change a lot of your decisions. And I think that that's Paramount in any part of your life. Right? You think how will this benefit me in the future? But of course you have to have those based relationships if I spent eight hours with my brother's I'm not making any money but there's the value out of coming out of that with, you know, being able to bond for that much time because you strengthen that Bond and then you're able to come back and you could see relationship where you can take something out of it and then you can give something back fun. One it just back more because my brother is getting way more than $100 value out of that. I get more tired awesome failure get out of that but don't think about it. That way. It's like over time their relationship is very strong. So where you can't knock it over no one else can come in and knock that relationship over Mmm Yeah. No definitely it's putting your time into the right things. I think one of the most the most common themes from people that I've talked about is is really, you know, making the right Investments for themselves and That's what people just ultimately need to find the answer is within them. Right? Right, right. Just I urge people to look at if they are someone that likes to do arts and crafts. If you want to be professional video game player. If you want to be like snowboard or something like that, which I do love all those things. I feel like I'm a fat fire kind of guy not like a lien fire. Okay. Yeah, we'll get there eventually, right? But the point that I'm making is you know, it's long as you get get the value out of it that you like. It doesn't matter what anybody else says team. I get a lot of comments saying, you know, that scar is crap. You know, this is the decision that you're doing is bad and I just tell them this is the value that I have, you know. Yeah, and you're going to tell you something else so I'm respectful. Everybody's values as long as the reasonable but death right? Yeah, so that's all I got to say on that. Topic know that that's super important man. It's very just valuing what you're putting your time towards time is the one asset that we cannot get back. Right? Right. So it's a it's very humbling your wise man Jay. I like I definitely didn't have a lot of ambition until a couple years ago when I'd move back home, and I really didn't have Any money and that's when I started investing myself, but that was like when I did investment research. Sorry, let me let me backtrack a bit, but I had a financial advisor in Canada invest on my behalf and mutual funds and after coming home from travelling. I found out that I owed 1500 and tax and you know, it was my fault for not doing the research but having just you know, I had really never had any sort of adversity in my life sadly, you know, and so that kind of I felt so offended and I was so angry at the financial advisor that you know, I thought he did. On purpose. He probably just didn't know the rules of the product and it just happened to happen. But you know, I'm just so glad that happened to me because now it's a complete mindset shift and I only want to spend time doing things that you know are valuable to me and you know, another thing too is making sure people know that you know, you're always there for them. If they ever need you they can always reach out and you will make that time but you've gotten your goals and good to stay. Everyone's gotta stay focused on their goals as well. Because that's what makes us all individuals. Absolutely, and that's why it's called personal finance. Right? And the personal part is a big aspect of it being, you know, honestly sometimes I think oh, you know, what would my followers think if I finance this car and I'm thinking but I have an income stream paying for it. It's not going to hurt me or I bottom line. Right? Right. Yeah, it's super involved in paying off their debts go ahead and pay off because that's what's important to you and no finding the value is really where it's at and I think you made a very good point there about failure and it being big teeth. ER yeah, because I think part of what changed me is. I was hanging out with the wrong crowd of people in my elementary school days and I almost landed in jail because of those times and you know part of what this is I re-evaluated by life and I'm like if I become this person in 10 years and now I ask everyone please think about we're going to be in 10 years if you keep doing this thing and sometimes that changes people's minds right the whole point of this is when I failed to the point that I almost got Put in back of the police car hauled off to juvenile hall and all that stuff. I realized my gosh. I need to change and sixth grade. Then I went Seven Grade and I was a totally different person you materials. So young I stealing stuff, you know, damn. I mean in hindsight as a kid all men you could have gotten away with so much. I wish I knew that I would have taken so many more risks. I know right? Oh, it's gonna be on your record until you turn 18 after that. It's going to be stealing no one's ever going to look at it. And I'm like, wow, I have a chance like it's that was my life in that my biggest failure. Yeah, I think about that time that I failed so hard that my parents disowned me and I almost got thrown into jail because of some stuff I did as a kid and in those yet. Like you said, those are the most powerful teachers. It's being able to just take that lesson realize it for what it is. It's a mistake, you know, you're not a loser you just lost Badly, but right you know, right everyone will and it'll it'll hit harder than and you want it bad enough. You'll make that change so good you did that. Absolutely. Nice. So would you mind sharing a little bit about your perspective on investing so for someone that would be interested in starting as a beginner. How would you recommend they go about it? All right. This is something that you're going to see all across this. T-that free community everyone's going to preach that. There are a couple of index funds, right? Yeah. If you are an absolute beginner investor go follow this guy personal finance Club follow him read all this poster and they want all the way to day now, basically, yes Jeremy, I don't him. I'm going to reach out to him soon to get him on the show as well. Yeah, absolutely fantastic and you know, there's controversial post that he makes but a lot of the content he makes her pretty good which is the basis of it is investing index funds and don't look yeah, that's all you have to do and in if you watch any ticker CNN Fox those are u.s. News sources, but if you look they always mention now S&P 500 and that is the index of the whole Market just invest in the whole market and what I'm going to say is if you just keep doing that look at what Jeremy's done look at how it's done to me my You alone has grown over $200,000 in this year because of the fact that I just invested in the index funds and that to me is quite crazy in mind blowing, you know by using some percent. Did you happen to get in it? Like I did you happen to buy more in January to in the market had just gone through that shit storm and December. Yes. I did. I bought the lots and genius when I tell people what my growth is. I said half of that growth is actually from me by throwing money in there aggressively and the other half is literally just growth like The money was there for so beginners. Just invest in low-cost index funds like no vanguardia see that 20 million times total Stock Market ETF just throw a bunch of money in that as soon as you have the money and if you're not doing anything else with it, just throw it there. That's great advice man. I wish people had just been slightly educated about money when I went to a high school and one of the themes I bring up is that if we don't like there's that quote by Albert Einstein that if you teach a fish or if you what is it judge a fish by travelpod ability to climb a tree and it'll believe its whole life thinking that it's stupid. Like if you don't teach people how to manage money, they literally believe as an adult that they can't manage money. I don't mean to generalize but it just seems like whenever I try to just explain the concept of even an index fund or I mentioned even this is mainly to Canadians, but I could give you heard of the Dow Jones DSP like they've always heard those trigger words, but there's just no foundational like context that they can kind of relate to so it's tough, but but That's spot-on that there's no better advice than that and for young people that are listening to me on this podcast, right? But the premise that if I put this money that I could have bought this Honda S2000 for $10,000 and then just let that sit for like, you know, 10 years come back you can buy three S2000 or you can turn that into one Maserati. And so I've $10,000 left, you know. Yeah, I think about the active then you're going to shift your mindset quickly. Yeah, that's valuable and time spent in the market. Like you say that that 10 years main thing is is that if the money is put in there if there's those couple years of struggle you have enough time for it to grow back. Absolutely. Do you mind sharing what are some stocks that you own that have that have done well, and that you've been invested in for a while sure, so Was a dividend investor until I met this whole community and I realized why am I picking stocks? So I actually had a lot of Arc EAD CRF. Those are dividend stocks that pay over 10% So imagine a nice then you paying you're getting paid $10,000 per year. But since then I've slimmed that portfolio because sometimes people cut their Holdings or something like that and this dog makes a big drop like 22 percent right and my gosh, I've already lost the dividends that I was So that's disappointing. So I shifted a lot of that in this stole some of it over time. I'm just praying to make use of that $3,000, you know tax write-off if you take some bad investments in the market. So I just said okay if I'm you know, just lose and then just shifted that money into index funds like vti smart. Yeah. Okay Q, which is NASDAQ then as I've Done Yet via lower Bo G. One of them is growth and I post my portfolio every month typically around the 15 so I'm a bit overdue for posting the portfolio. But if people just look at that every month and then swipe, right you can see exactly what I'm holding and how much of it I'm holding right give you an idea what I mean. Testing in and for people would get this in five years. They can say all he invested in them in. Yeah, and it's like, oh you just got to wait five years. Yeah. It's like I should have invest in that five years ago your nicely Diversified their to it like a Nas doc ETF and as a total market and then a Vanguard one. Yes, that's right. That's right. So I called vti. Vo I don't need to deal with definitely damn guard. But like that's it. You've only got three you've got three main ones that all you need to do is just add to that for the rest of your life and you'll have that passive income. Um flowing in from dividends. Yep. So the way my portfolio has held is about 50,000 of it goes into dividend stocks. So it makes up about 5,000 a year and I know I slim that because I was trying to make 6,000 but I realized wait if all my income is if I've dividend income plus this income. I'm going to have a big tax problem at the end of year, which I did last year and I said, I'm going to do it a little bit different here. Okay. Let's make it all gross and then just just shift later. Yeah, and would you mind for fellow Americans explaining how they can you know if they do have Investments that goes our there there is that text tax benefit that they can that they can use. Yeah, you can write off up. So let's say you invest in Tesla at $300 and then you lose because of stock drop to like 250 or something. And you had next number of shares go figure. What you can do is to install it and then you can take that as a loss and then that will decrease your tax liability because imagine if you're making a hundred dollars a year, you just have 3000 from the from that Maui populated on 97,000. That's kind of how it works, but I'm not a tax Pro so don't quote me on that fair. This portable computer thing is I invested heavily in dividends and I'm like for Watts because in real estate you can depreciate you can do so many things with what you can deduct and my income shows as you know, a thousand or two thousand a year and I actually checks done because you know, make some 12,000 and you cannot tax only two but in dividends you get taxed, you know at the 20 percent grade or something like that depending on your bracket and you have no deductions at all. So if you make $10,000 of income you're paying easily $2,000 back to the government. And for what right? Like if you can have that grow. Is that and then you can just convert that to Peter when you need the income? Yeah, then that's something that I learned right and I'm still learning right? Are you trying to get to become a millionaire by 30 but along the way I'm going to make mistakes. I'm not the perfect role model. And I know that and I want people to know that about me as well. Yeah, they see the tip of the iceberg. But you you're the one that's got to do all the learning it through all the shit, you know to make that post at the end of the day pretty much right now. Yeah, yeah, that's a very good point. That's so true. One thing. I'm not sure what you would call it in the states then but I guess I want to compare that to Canada because just for any Canadian letters that might listen but we have two types of investing accounts that you can open with a or that you would use one would be a margin account. Is that what it's referred to in the states as well like opening a margin account where you pay tax on gains? I feel like that is called a brokerage here. So well, we would buy we would open a margin account through a brokerage but the margin account is how it works is like let's say you want to use $10,000 you only have to put down 3,000 and The Brokerage will put down 7 to match it. But yeah, but then if you if you lose a good portion of the money you put in you got to pay that back or they just take your money. Oh, that's an interesting concept that I've never heard of really so nice. Yeah, maybe that's in Canada. That's what my friend of mine explained a margin account to me. Now. There may be some different like the numbers might be able to factor in differently. But on the flip side of that what we have in Canada, I think it's similar to a Roth IRA Ira sorry in the US but Tfsa is registered account with this Canada Revenue Agency. So it's with the government and basically that allows it's called the tax-free savings account. It should be called the tax reinvesting account because it doesn't pay me interest. But you can invest in if you make capital gains. You don't pay tax on it at all, which is great. But that's the that's the big thing that's missing in Canada's the education around that no one knows how to use it properly, you know stories of people just making monthly contributions and never investing in anything. So they're not. Oh No Just that's where like the lack of transparency exists in Canada, and I see that a lot. So I definitely want to you know, that's kind of the my mission to help bring awareness to that. But is it do you guys have kind of a similar system where it would be like, I guess maybe you A tax account or an investing account that doesn't get taxed versus one that does get tax. Was that accurate at all? Yeah. Yeah, so The individual retirement account. Yeah, and the way it works is you have Ross and traditional and the thing about this is if you have a certain income limit, you cannot contribute anymore into Roth but you have to back you have to be like a back door method but simple terms individual, there's no income limit and you can contribute up to 6,000 a year into that one. Now. Here's the trick though 6,000 splits between any of the IRS if you contribute $6,000 to one Ira you can't do it to the other one. So Most people will get is invest 6,000 into the Roth IRA and then put that into the lower cost index funds it's going to grow and then when you get paid out that money in the EM, you're not going to get taxed on your games, right? Whereas if you do traditional you can put the 6 mm in there. It's going to grow but when you pull it out you're going to attach on the games that you pull out. So Roth IRA the grows tax-free. Take it out tax-free traditional you Best in its you take it out you get tax on the gains coming out of it. Okay, so that's that's probably where my what I'm calling a margin account or the one that you can use for that purpose would be like your traditional then well, here's a trick though, right? Because an IRA you have to pull it out at the retirement age, which is 55 but government can make it 65 in the future. So people have to be well balanced if they want to retire earlier. So I called brokerage but I think it's just called an individual investment account. Like right. I don't think it's called margin because you're not trading on Leverage using any money from anybody else. It's your money, right? Okay, and maybe that's a Canadian option. But the one crazy part about the margin account has that you get taxed on gains, but guess what the taxes in Canada 40 50 percent hundred forty men. I'm pretty sure it's 50. I'm studying that Canadian Securities course so that at least have a bit of credibility behind me with when I Try to get my course going and all that. But yeah, so imagine that fifty percent. So that's why the tax-free savings account is so useful but like yeah, like if anyone's not using that in her in a grown adults, like give your head a shake my gosh. That's insane 50% right? Yeah, and I think you know the types of people that that complain about tax. So they hate how much is getting taken off their paycheck. It's like you if Using the tax-free savings account. What are you complaining about? You know help yourself. Wow. That's wild. Do you think that Trump could win the next or could be re-elected in 2020? Yeah. This is an interesting topic because people on Instagram may or may not know my views, right? Yeah. So the thing about this is the way the u.s. Works is like electoral college system. So it's whatever your representatives vote for not really about the popular vote. So I eat and that's how Trump beat Hillary which is just crazy. Right? So you literal college is like yeah, the popular vote could be 51 percent voted for Hillary over Trump. But you know all the Electoral College votes came in and everyone's like I freaking swear that Trump would have lost but Trump won. Yeah just look for college. So, you know that even surprised me because I was like, you know, I'm gonna bet on the other person. That's Hillary, but everyone got steamrolled and I quote that that happened in It was not supposed to happen. The media is very good at making things look a certain way. Yeah, so that's one thing right and I think that based on the media. It's hard to trust them. You have to have multiple credible resources to look at ya. You cannot just look at exclusively Fox if you're conservative or skin and if you exclusively Democrat, so it's tough to look at because both will tell you that the other side is winning. Yeah, and the news is good at that part too. Good. Yep. Yep, but in terms of who Cool. I think that there may be a shot for another candidate to step up and take. As long as if the Democrats were to bend up together and not kind of like shoot each other in the foot in terms of where to try to make your message. It's like the whole point is you try to be Trump. Yeah, that's about to let him win psycho. I Elizabeth Warren I'm going to do this thing and this thing and this thing and I am going to rival candidates going to be something else like well not until get your ducks in a row get out of the way and then just bend that in vote for this one don't vote for a third party and I think what yeah people wrong and in the previous election here is everyone is like yeah, Bernie Sanders got off the vote, but my heart is with Bernie Sanders. I'm going to vote for him, but people did not know in politics that to the two-party system. Yes and introduce a third party but no one cares about the third party. It doesn't do anything. I already lost a lot of boats, right? That's that's what I say is that if you just bend up you can beat up like I'm not going to say this but cast who will win but that's just my advice there. Yeah. Do you think I have this theory that if the Republicans decided to run on legalizing cannabis that they could that they would be able to run away with it. Do you think that's possible? I think that's possible and I'm totally open to all the opinions. Yeah, that's one thing. I'm a Canadian but I obviously a lot of the news and stuff. I'm exposed to his from the US. So I'm a lot more aware of us politics and business except for the Cannabis industry in Canada. And I thought it was interesting because I posted an article about how the marijuana stocks are not doing super well and I think it's because of Regulation or something like that. But how is your practice? I thought that it? Would take off and everyone would want to buy some legal stuff. The main reason in Canada why the numbers are so low is just because the provincial government so it's like the state's imagine the federal government gave the states the ability to make their own laws, right? So in the province where we stood to make the most money and we could have like they put the numbers together and matched. For example, the one you would we would use as Alberta. There's 4.5 million people there and they have I think 271 stores or 273. Something like that. So there's obviously a lot of stores for the people and Ontario. It's you know, maybe three times. I don't know how big of the size of Alberta but it's much bigger. You have 13 million people and you've got 25 stores. So like yeah, so you're just welcoming the black market to run rampant if people live in you know, more rural towns, these are still towns with a hundred thousand people or maybe not a hundred fifty thousand, but they have to drive six hours to Illegal pot shop. No, they're not going to do that. You know what I mean? Like, it's Just it's complete government failure. Unfortunately, so Ms. Like multi-state operators in the u.s. Just released their earnings today. So we're truly was yesterday cure Leaf was today and both beat expectations, which is is helpful for the US industry, but we just we need more stores. So it is unfortunate. It's just what happens when the government is this is responsible for running something businesslike and you just interesting also because I read news in Colorado and they said oh wow this cannabis. Really taking a toll on us because we're now so much flush with cash. Right? Let's hook him. Canada is not flush with cash. What about my ETFs? Yeah. Well, I'm just glad Colorado started it when they did too because they are the case study to reference and they made just as much money as Canada did last year comparably. Whoa cannabis guys. Yes, Colorado made like 1.5. I've billion in the entire year and Canada made 1.5 billion in Revenue the entire year and that was just in the first year, but think about a Colorado is 5 million people Canada has 36 million. Oh my gosh, so talk about a bad roll out. However, there is a lot of potential going forward just gonna take more time than most people expected. And I mean that's the thing. I cannabis has been around forever. It should you know, people should never have been going to jail for 25 years getting three strikes. So I'm just I'm not advocate for business, but at the same time it's like yo, its 2020 2019 2020 almost just you know, Legalize It regulated like anything else and get it over with. Yeah, and I thought it was an interesting. Study because of the fact that most people that use it don't want to be caught with it right now, but I think it's a it's a fine line to walk because the way you have alcohol deaths in the u.s. Already and that thing is in a regulated and all that you have breathalyzer. You have three strikes you have people taking away license and all that. But Indian someone will get killed and the thing that it's it's tough to gauge is if you were to fully legalized that and how would that affect this will that increase the number of deaths in addition to that or will the A musician alcohol use that as well. And then maybe the number of debts will only increase slightly. Yeah. It's a really tough call it is it is and that is kind of the risky do have to take though being a democracy. And and unfortunately, I think part of the province that I'm from Ontario their thought was that well, you know, we won't know what too many stores because we don't want anything like that happening. But I've also remember seeing articles that like basically that you're not catching High drivers like they expected drunk drivers there the numbers apparently you're not even close. So I personally agree that people that get caught with it and are not under the influence. Those people can go right. Yeah, anyone that is under the influence, you know, that shouldn't be the case of any substance. You wouldn't do that on any other drug and alcohol anything right? No exotic people follow them. Okay, you know Fair. Yeah, exactly and that's the main thing, you know, it was the testing phase and just as a shareholder of a couple This company's I obviously just want to see this sped up more quickly so that I can see it sooner profit on my investments. But you know in time the good thing is and one thing I can say to all the listeners just manage the cash you have well enough so that you don't have to touch your Investments main thing, but also now Jake when do we get to see your face on on on Instagram? You know, I always tell people that it's coming and who knows right? Maybe I will maybe I will not Right. Yeah. I personally think that even without showing my face. It doesn't really matter. I think that the advice that I give in the value to society outweighs someone's face. I'm saying is people see that I don't want to be that person where I'm on the streets and then you know people's see me as a Target and that's one thing that I'm trying to keep under wraps. Right? Like I understand Jeremy shows his face and he's worth three million and who knows maybe someone is doing something or not, but I'm security guy, right? Mmm, I just think about security at first. Yeah, my son's that I'm giving enough Dolly to society where I don't need to show my face. Yeah. No, I agree. I like the anonymous feel to and and that's the best part is that ultimately you can decide eventually what you want to do with with the options you've created for yourself and that's amazing man. So absolutely. Yeah, that's really good. No last question. Once you get to your your millionaire Mark by 30. What are your plans then what's next? Oh, well, I've always I told myself that I want the own enough rental property to sustain a salary of $150,000 a year. Okay, and the reason why a hundred fifty thousand is because it is twice what the median is in the state of Texas. So it's enough I feel like it's enough if I don't change my life that much more I think that I can do everything I want to do and not have to worry about money still. So yeah, that's my ultimate goal like Beyond 1 million. If I can get ten houses that pay that much which does not the case it's going to be more than that, but I'm looking forward to doing that and not having to touch the principle that I've accumulated over time. Maybe that might go somewhere else and you know, one of my goals is to fund some schools right? Like yeah, if you don't swear in impoverished countries, you don't really get that. I want to be able to say look cybersecurity School Festival in cybersecurity come to the u.s. And sharing the same success and I want that. That's a brilliant idea. That's kind of that's what I love to hear. See that's great. And once you have money, you can go about that kind of dream, which is awesome. And I'll just put like a smiley emoticon in some people never know who created it. Yeah. Exactly. It's good that you you're thinking about other people. But yeah, I guess get to that goal first and then we could definitely have that chat in the near future. Oh man, that would be something I appreciate your time. Awesome. Likewise Jay. It's been a pleasure to have you on any last word of advice to the listeners I would say always have something to look forward to you. I say this in all of my talks and I feel like life is interesting because of all the ups and downs and people have anything to look forward to you what's life for you if you don't make any milestones in between there's no point right now. Enjoy a little bit of the journey and don't rush the vehicle. That's great advice man. It's yeah enjoy enjoy where you are learn to enjoy where you are because that's all you're gonna get make the most All right, Jay. Thanks so much again for coming on where can people find you well to find me on Jay Millennial. That's my Instagram account. Just smell that is his J Millennial. Awesome. Well, thank you Jay everyone. You can find this podcast on Spotify Apple podcast Google podcast breaker and radio public. If you liked it, please share subscribe leave your view. It would be great to see who's listening and it helps with the organic reach so we'll be much appreciated and lastly. Thank you all so much for listening. This is your host Jordan highly signing off Stay High. We invested in your cells till next time.
Episode 14, we meet with the anonymous king of hustle and ambition, @jaymillenial. He's a well educated IT consultant out of Texas who documents his journey to become a millionaire by 30 on his IG account @jaymillenial so he can help others build confidence and learn about money the way he did through trial and error. He posts valuable daily content about his mindset around money, his side hustles, and his investment progress so if you want a trusting account to follow to give you encouraging money ideas to reach your goals, his is it! He's almost at $700 K in networth so he's definitely on pace for his millionaire goal at 30. His biggest investments: Strong family relationships, academia and focusing his time on things that provide value to him. This podcast is for anyone who wants to learn about personal growth, finance, investing and business concepts or feels the need for a mindset  shift. My mission is to create a world of financially literate individuals to be the best version of themselves so they can inspire  those around them. Be the change you want to see and people will notice. It shouldn't be so bad to talk about money so get highly invested in  yourself, reduce stress and pay yourself first. Your future self will  thank you for it. I hope you get some value out of this episode! 