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Thank you everyone for the kind feedback! I loved hearing your stories, especially what you did during the pandemic and what you strive to do. I know there may be some confusion over the numbers. Let me know if you have any questions and I'll try my best to answer them :)
Hi Shan Shan, Thanks for sharing your story. It's inspiring! It sounds like you were pretty successful before you started your business as well! I was actually wondering what type of consulting you did with companies? And did you go to college for that? Thank you!
I just want to say well done young lady. Entrepreneurship takes a lot of work and dedication behind the scenes. Success does not discriminate. It takes effort to acquire and maintain and is open to anyone that’s willing to grind for it. You are an inspiration, to all. Keep doing well.
@@emilyjane3794 Thank you Emily! I work for a tech firm where I helped companies build up their IT - such as building corporate websites, migrating to Cloud, create apps, etc. so basically very different from what I am doing now haha. I did business major in college and started this path by doing sales for a digital agency.
Hi Shan I wanted to know if you have a blog about financial advice? Im 21 years old and I have been able to save 15 grand buy i don't know what I should do with it.
@7:20 I think CNBC needs to do a better job of explaining her situation if you've decided to bring it up otherwise it's super confusing to viewers who don't know much about the US immigration system (most don't). The reason that she said it is a challenge because she was born in China is because the US has quota, not exceeding 7% of green cards per year per country, no matter how big or small the country is.....and it is based on country of Birth, not Country of Citizenship. For people born in large countries like China or India, the wait can be very long....no matter what country you are a citizen of. That's why it is a problem for her (long wait time) because she was born in China even though she is a Canadian citizen. Also, putting the $6000 something for the cost of her O-1 visa is very misleading....it makes it sound like if you can put up 6K, you can get it....but in fact, it is very difficult to qualify to the O-1 visa...6K is just the fees.
@@d.m.5900 8 U.S. code, sec 1151, sec 1152 and 1153. The numerical limit per country is set by congress in sub section (a), paragraph (2) of Section 1152. See sub-section (c) under the same section (1152) for the "country by Birth" rules (known as "Rules for Chargeability".
@@joyceshang9920 My sister has residency in the USA and she said the only real difference for her is that she can vote in or run for Presidential elections
I love her so much! She’s right when we are all open about our finances we’re all better for it. As a child of immigrants from Ghana I’m so proud of her.
@Duncan Donut Donut Knowing one of your comment somewhere else was « support Asians and put you know who back in the plantation » I think jealousy and resentment only come from you. You are really disgusting, especially looking at how nice and positive were the initial comment.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@MaeveAthena The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
Awwww I love her personality and determination! She will definitely become a millionaire by 36! The only thing I could say is maybe increasing her savings, but overall I think she's doing well. I feel like everyone has something they are willing to pay a premium on - even people part of the FIRE movement. For me it's travel for others it's nice cars, homes, etc. I think that is totally fine. You just need to be smart with your money!
I also said the same thing!!: She will definitely become a millionaire by 36 (probably before then even) . I adore her actually & wouldn’t mind learning a lot from a woman like that ! Good luck Shan Shan and please keep being that sweet, grounded, genuine soul that you are & that I can thank Chinese culture for lol.
Don’t forget about the equity in her condo. Not as liquid as cash or securities, but in terms of non-emergency savings, she’ll have a nice nest egg when she decides to sell!
Awesome episode the $226k is revenue though not net income. The “business expenses” skew the analysis. Inventory isn’t an expense, but COGS. Love her frugality and general approach to personal finance.
Exactly, common mistake is to confuse a business’s money with your own, even if you wholly own the company. Business expenses should come out of the business, so the fact that it’s shown on the monthly expenses means that it’s being mixed in with personal income. Plus, only saving 2K/month is pretty ridiculous, she is spending way too much on food/rideshare/discretionary
The more you earn the more you spend, guys don’t chase money. If you do chase money and earn a lot, than I guess you should save a lot too. Don’t spend it too much, that being earning alit is useless if you spend a lot. The goal is to be financially independent and secure in the long run.
The fact that she learned how to do e-commerce just from RUclips shows how level of a playing field it is for everyone trying to make it big. It IS possible!
Not to be a Debbie downer, but she has certain unique advantages like having connections in China to manufacturers and a background in consulting. I’m just skeptical that the playing field is really level.
Yes but she had a huge advantage in that her family were involved in the import export business out of China. Obviously she's clever and works hard but already having a source of cheap goods puts her ahead of the majority of the competition before even starting.
@@dtw456 Yeah it's not, but she acknowledged it straight off the bat. Plus she gives 20% of her earnings to poor Americans suffering from the pandemic because she feels like she has benefitted from the pandemic business wise. I mean, how cool is that? Less than 5% of people would even consider doing something like that.
Long story short: RUclips is a great avenue for self improvement and this lady definitely had connections from the jump. Great story either. I would love to see a post pandemic video.
The only thing I would recommend to her is to expand her business to larger horizons. The pandemic will end and masks won’t be sold as much in 3-5 years, however if she extends the masks and sock business to gloves, hats, etc. it can boom for decades
I do agree that she should expand her business to more products. Although, I don't think masks are going away anytime soon. There could always be more pandemics in the future, I think masks will be a common accessory for many years.
Business expenses $26,000 a month out of 35,000 total is not 226K a year. You have to subtract your overhead for profits she's making more like 130k a year
I think what they did is adding her salary from her previous job (115k) to her business revenue. So it's not all income because revenue doesn't mean profits
Lol @ she said, "she wishes she invested in her 20s", while she purchased a rental property in Vancouver. Meanwhile in my 20s I spent all my money on going out and cars. Lol
A lot of us in our 20s work on impressing other people. Myself included, once the noise and excitement settles you realize it's all about working on yourself. It's part of the journey, but I still spend money on sports cars needlessly on some years too lol. Guilty pleasure
This is what happens when you put in the work! Dang girl, get it! She's an inspiration to all of us that grew up in low income families that struggled to get by day after day.
Canadian 🇨🇦 fellow here! I really liked the interview, she is doing great! She has a huge advantage because she's able to reach Chinese manufacturers, this was really a struggle when I started my e-commerce business a few years ago. She is very smart with her money and I like that the gives back to the society. Well done! 👏🏽
Hi fellow Canuck. Ive been working with Chinese manufacturers for my brands Constance Beauty and Cobe Fit for years, Ive never had a challenge finding good manufacturers. Just should if you need help I'm constanceceo on the gram
Hi @@connieb.4071 , good for you! I don't have my business anymore but it's been a very good experience and I like to follow other people's journey! Have a good day
It definitely helps but you can still find good manufacturing yourself abroad, but all of us have different strengths and contacts that put us ahead in different parts. Maybe you're better at marketing for example and that's less a friction point for you :)
Damn her hustle is amazing! I love how charitable she is with her money! Very inspiring. I'm in the middle of jumping in head first starting my own business as well so this was just the video I needed! 😁 I wish her nothing but success.
She was very smart on choosing her company name. It really has absolutely nothing to do with the products she is selling but caters so perfectly to search algorithms that it probably drove alot of business to her site. Although everything on there can basically be bought off Amazon, Ebay, and AliExpress. Side note, I would really love to see videos for other parts of the country. Like Phoenix, Salt Lake, Boise, Denver, Indi, Louisville. Places like that. Stop just showing the coasts it's not an accurate representation of the whole population.
@@anoukc6928 I wonder if they are but just aren't picking them. Obviously it's all speculation since we don't have a list of the areas they get submissions from. But based on the number of comments I see saying more places should be included it's safe to guess that alot of people who don't live in the areas already featured do watch these videos.
@@kayseacamp oh maybe, I don't know 🤷🏽♀️ I'm not from the US so the places you stated above I'm not familiar with them so it doesn't make any difference to me but yes, diversity is always a good thing!
@@vickyyyy Yeah, you know this is something I've noticed over the past decade. People claiming they make a lot of money don't always tell the whole truth! Unless their company is public, we can't verify their actual numbers so they can tell whatever they want. I have met in person people like that and often found out later they were broke...I'm not saying this is her case but I stay skeptical, people lie a lot to get attention 😒
I would like them to feature more people that are "making it". Those who currently have a job but are also actively creating other sources of income. This would both educate and inspire those who are looking more but don't know where to start.
Stop with labeling and grouping people. Focus on what’s important, success and how one can attain it. Draw inspiration from successful people not complain about inequality.
@@emmadarkwa6413 You don't need to be a citizen to buy a house in the US. She's got a high income and certainly pays taxes. I'm sure banks will be lined up to loan her money for a home.
Congrats to her! Smart decision on her part to invest in real estate. That's exactly what i did when i purchased my first home/rental property in Brooklyn NY. I even created my RUclips channel to share the steps i took to buy the property
Well, no consumer debt. She's got a pretty hefty mortgage on that property in Vancouver. She's doing fantastic though! Hope she gets her green card soon 🙏
@@Potato-ug7qj The majority of the payments go towards interest for the first 13 years. Once you pass 13 years you start to pay more towards the principal than interest. So at 7 years, she has some equity. However, since valuation has skyrocketed, as she stated it doubled in value. She has a ton of equity in the condo.
My takeaway.. she focused on her strengths and the connections she already had. Then she built on that. The hard part is seeing an opportunity that lines up with your strengths.
She's doing a lot. I hope she still takes time to invest in herself (physical, mental, emotional health). Plus take steps to achieve that future family that she desires.
This profile is the perfect blend of what CNBC Make It showcases in higher learning, and what we as viewers want to see for those from modest backgrounds starting from scratch- without the backing of a wealthy circle. Much more success to Shan Shan, CNBC Make It, and you, the new business owner striving towards greater goals. We're right there with you!!!
$2600 for rent here in San Francisco is still high, but an incredible deal if that's the place she's renting in the video. I remember 2 years ago chicken shacks were going for $3,500!
All the new high raises are going for super cheap. There is not rent control on these buildings so rent will skyrocket if demand returns to pre COVID levels
Talking about money with friends is important. ❤️ My girlfriends and I talk about it often, and it's so empowering; It helps each other be smarter about money and learn from mistakes.
Yeah, that was my reaction too. So that’s like the average income for that area, right? Not trying to take away from her accomplishment, I’m just curious.
Love Shan Shan's personality! She is indeed so giving and values family and friends. Very bold and kind of you to share your story for others to learn!
Awesome and very insightful updates Well i will also say this here... Even as the world still experience slow recovery in terms of economic meltdown due to the recent Covid-19 outbreak, it is best advised to find another alternative to make good income.
Involving in day trading backed with a very accurate signals and strategy is the best way to grow a very strong portfolio when it comes to bitcoin trading properly guided by a pro trader.
For me I would say investing in Bitcoin is the hardest decision I and my wife ever took because at some point we were running down and didn't know what to do anymore, thanks to my colleagues at work who introduced me to professional Mr Dimitri lius
Definitely, San Francisco is always in the, "Top 5 most expensive cities to live" lists. I would even say that Shan Shan has a very good situation for her housing costs.
she must have bought it at least 5/6 years ago. My friend also purchased a condo in that area around then and a one-bedroom condo in the middle of vancouver dt was around 450-500k
Much respect for Miss Shan Shan that's incredible she's proof that hard work pays off🙏 thank you for sharing your story with us and thanks to cnbc for making it possible, love coming across inspirational successes like this
@@Bonanzoo Right, the 100k a year salary is a milestone for most. However, living in northern California, it's going to be 200k+ for many to feel that sense of achievement in the same way that others do.
I grew up in Vancouver and I wish I'd invested in property. Seeing her make so much money with a simple business really has me thinking its all about position. 6 years running Constance Beauty & Cobe Fit in 🇿🇦 South Africa, I think it's time to grow into the USA market.
If “typical” monthly budget of $35k, “typical” annual budget should be roughly $420k which is twice her annual income. How do you get a “typical” monthly budget of $35k if she’s making 220k/year?
Her 220k per year is probably already considering gross profit from her business. She probably makes 350k+ per year salary plus business revenue, but less business expenses that gets pulled down.
As a fellow San Franciscan I was really happy for this person until at 3:31 when they showed her budget. 26,444 dollars per month in business expenses? Did they mean to say she reinvest 26k per month back into the business because if hats the case its not an expense. If it truly is an expense then she is spending more than she is making which is a nightmare.
idk ,this is part of the reason housing in Canada is ridiculous. instead of people living there, places get bought up by foreigners for investment purposes.
I would be curious to see what her 10-year plan is with the company she owns. Selling face masks is popular now, but I'd imagine she is going to have to expand her product offerings in the future; as face coverings (hopefully) are not going to be a permanent accessory for a majority of the population in the future.
i was thinking exactly the same thing, either she knows someone from china or her parents got connections, it's nearly impossible to get masks from China after March 2020, I was trying to do the same thing. 400 a month including doordash is really a small amount. and 2700 rent including utilities on a high rise building (new) in the city of san fran is really low, I pay 2700 for a two bedroom 1 bath condo OUTSIDE san fran, not a high rise and old. who knows, she might got a good deal. Her clothing is really nice, I'm not surprised it's a luxury brand. Overall, she's pretty much a millionaire already.
Love to see this, Shan's way of thinking and her perception of life is admirable. She has continuously kept that same humble mindset that she started out with in addition to her continuous growth! Her story is the epitome of the American dream, excited to see where continues to take her journey. & for the 119 dislikes, what video were you watching...?
So inspiring! I will be earning approximately what she earns for the first time this year and I have no idea how I'll be navigating my finances, so this video is giving me a great start to understand what I should be doing!
Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.
3:28 Business Expenses $26,444 per month 26,444 x 12 = $317,328 Monthly Budget $35,053 35,053 x 12 = $420,636 How does she make almost half her yearly budget?
The best strategies don’t even matter much without investing with an expert or signing up for mentorship. Trading without an expert or mentorship blows your entire account off
She meant material possessions. She even says it in the video. I agree with her. I’m not into fancy labels but I’ll take a modern/upgraded home any day of the week.
The math doesn’t’ make sense...show her net after business expenses. Its not a number to be ashamed of, she is doing very well for one-man show operation.
What's your budget breakdown? We're looking for stories from all ages, not just millennials! Share your story with us for a chance to be featured in a future installment of Millennial Money: cnb.cx/32TYZ2K
I would love yo be on your show please I submit my application. I think it would be nice to show POC Midwest gal who makes under 42400 a year.
stop the crazy ads
We need BOOMER BUCKS
Thank you everyone for the kind feedback! I loved hearing your stories, especially what you did during the pandemic and what you strive to do. I know there may be some confusion over the numbers. Let me know if you have any questions and I'll try my best to answer them :)
Hi Shan Shan, Thanks for sharing your story. It's inspiring! It sounds like you were pretty successful before you started your business as well! I was actually wondering what type of consulting you did with companies? And did you go to college for that? Thank you!
I just want to say well done young lady. Entrepreneurship takes a lot of work and dedication behind the scenes. Success does not discriminate. It takes effort to acquire and maintain and is open to anyone that’s willing to grind for it. You are an inspiration, to all. Keep doing well.
@@emilyjane3794 Thank you Emily! I work for a tech firm where I helped companies build up their IT - such as building corporate websites, migrating to Cloud, create apps, etc. so basically very different from what I am doing now haha. I did business major in college and started this path by doing sales for a digital agency.
@@marshallosantos9035 Thank you so much Marshal! I love your line about success does not discriminate :)
Hi Shan I wanted to know if you have a blog about financial advice? Im 21 years old and I have been able to save 15 grand buy i don't know what I should do with it.
@7:20 I think CNBC needs to do a better job of explaining her situation if you've decided to bring it up otherwise it's super confusing to viewers who don't know much about the US immigration system (most don't). The reason that she said it is a challenge because she was born in China is because the US has quota, not exceeding 7% of green cards per year per country, no matter how big or small the country is.....and it is based on country of Birth, not Country of Citizenship. For people born in large countries like China or India, the wait can be very long....no matter what country you are a citizen of. That's why it is a problem for her (long wait time) because she was born in China even though she is a Canadian citizen. Also, putting the $6000 something for the cost of her O-1 visa is very misleading....it makes it sound like if you can put up 6K, you can get it....but in fact, it is very difficult to qualify to the O-1 visa...6K is just the fees.
State your source?
@@d.m.5900 8 U.S. code, sec 1151, sec 1152 and 1153. The numerical limit per country is set by congress in sub section (a), paragraph (2) of Section 1152. See sub-section (c) under the same section (1152) for the "country by Birth" rules (known as "Rules for Chargeability".
For perspective on what a long wait entails, my coworker from India has a 35 year wait for a green card
Tarzan, you explained it perfectly! This is exactly my struggle :)
@@joyceshang9920 My sister has residency in the USA and she said the only real difference for her is that she can vote in or run for Presidential elections
I love her so much! She’s right when we are all open about our finances we’re all better for it. As a child of immigrants from Ghana I’m so proud of her.
Thank you! I am proud of you! Immigrating from Ghana must have been a fascinating story :)
Ghana proud!
@Duncan Donut Donut lol that’s false or maybe the blacks in California
@@nycblixky8530 blacks in nyc too bud
@Duncan Donut Donut Knowing one of your comment somewhere else was « support Asians and put you know who back in the plantation » I think jealousy and resentment only come from you. You are really disgusting, especially looking at how nice and positive were the initial comment.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@MaeveAthena That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@MaeveAthena The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
@MaeveAthena I will give this a look, thanks a bunch for sharing.
Its nepotism
this woman is seriously smart and so giving!! I think she’s a great person to look up to
Thank you Nat! Really appreciate your message :)
Yes I love to see other immigrants giving back and being open about money
Awwww I love her personality and determination! She will definitely become a millionaire by 36! The only thing I could say is maybe increasing her savings, but overall I think she's doing well. I feel like everyone has something they are willing to pay a premium on - even people part of the FIRE movement. For me it's travel for others it's nice cars, homes, etc. I think that is totally fine. You just need to be smart with your money!
Thank you Aminat! Your feedback encourages me a lot :)
I also said the same thing!!: She will definitely become a millionaire by 36 (probably before then even) . I adore her actually & wouldn’t mind learning a lot from a woman like that ! Good luck Shan Shan and please keep being that sweet, grounded, genuine soul that you are & that I can thank Chinese culture for lol.
Don’t forget about the equity in her condo. Not as liquid as cash or securities, but in terms of non-emergency savings, she’ll have a nice nest egg when she decides to sell!
Awesome episode the $226k is revenue though not net income. The “business expenses” skew the analysis. Inventory isn’t an expense, but COGS. Love her frugality and general approach to personal finance.
Exactly, common mistake is to confuse a business’s money with your own, even if you wholly own the company. Business expenses should come out of the business, so the fact that it’s shown on the monthly expenses means that it’s being mixed in with personal income. Plus, only saving 2K/month is pretty ridiculous, she is spending way too much on food/rideshare/discretionary
Yes they should re-title the video
The more you earn the more you spend, guys don’t chase money. If you do chase money and earn a lot, than I guess you should save a lot too. Don’t spend it too much, that being earning alit is useless if you spend a lot. The goal is to be financially independent and secure in the long run.
They do that all the time and I hate it. Living on 226k a year gets more views than living on 110k a year. I guess
The fact that she learned how to do e-commerce just from RUclips shows how level of a playing field it is for everyone trying to make it big. It IS possible!
Not to be a Debbie downer, but she has certain unique advantages like having connections in China to manufacturers and a background in consulting. I’m just skeptical that the playing field is really level.
@@dtw456 exactly what I was thinking, her family is in the import export business, that would be a tremendous help
@@dtw456 absolutely right. You better be ready to spend 12-14hrs a day and invest a lot of money to make e commerce work for you.
Yes but she had a huge advantage in that her family were involved in the import export business out of China. Obviously she's clever and works hard but already having a source of cheap goods puts her ahead of the majority of the competition before even starting.
@@dtw456 Yeah it's not, but she acknowledged it straight off the bat. Plus she gives 20% of her earnings to poor Americans suffering from the pandemic because she feels like she has benefitted from the pandemic business wise. I mean, how cool is that? Less than 5% of people would even consider doing something like that.
Long story short: RUclips is a great avenue for self improvement and this lady definitely had connections from the jump. Great story either. I would love to see a post pandemic video.
Thank you B! Absolutely, I'll be making a RUclips video that talks about post pandemic plans and will post it to my RUclips channel
The only thing I would recommend to her is to expand her business to larger horizons. The pandemic will end and masks won’t be sold as much in 3-5 years, however if she extends the masks and sock business to gloves, hats, etc. it can boom for decades
I think the video suggests she's expanded.
Yeah she has a good business model but she needs to think a little ahead. Masks 😷 will go in a couple years. Socks, gloves, hats or even small bags.
Did you see the part where she was working on advertising for another product??
I do agree that she should expand her business to more products. Although, I don't think masks are going away anytime soon. There could always be more pandemics in the future, I think masks will be a common accessory for many years.
@@unforgettablesketches2695 masks will be here forever if you live in a democratic state 😂
Business expenses $26,000 a month out of 35,000 total is not 226K a year. You have to subtract your overhead for profits she's making more like 130k a year
and only saving 2k a month. I hope she will soon be able to save more.
I was about to say... math doesn’t add up 🤔
Thank you. I honestly saw the headline and felt really bad about myself. I live in the SF Bay Area and I'm not making half that much (and I'm 36)
I think what they did is adding her salary from her previous job (115k) to her business revenue. So it's not all income because revenue doesn't mean profits
you mean writing off most of her expenses?
I like that she invests more than she saves, that’s definitely my strategy now. I also wish I had started investing in my 20s. Great episode 👍🏾
You can start now, with wiser investment allocations...
Thank you Alice! I wish I did too! Big mistake on my part. I should have bought more Shopify stock early haha
@@ShanShanFu how much do you actually make in profit per month? The math in the vid doesn’t add up. Great video thi
Lol @ she said, "she wishes she invested in her 20s", while she purchased a rental property in Vancouver.
Meanwhile in my 20s I spent all my money on going out and cars. Lol
its also okay, whatever brings you joy Jameel
And i was chasing women at 20’s .
A lot of us in our 20s work on impressing other people. Myself included, once the noise and excitement settles you realize it's all about working on yourself.
It's part of the journey, but I still spend money on sports cars needlessly on some years too lol. Guilty pleasure
That's on you.
This girl is doing everything right. Such an inspiration.
I already hear Graham Stephan saying "wait for it, Millennial Money"
I was looking for this comment lol. Will be a good video alright when he gets around to it.
This is what happens when you put in the work! Dang girl, get it! She's an inspiration to all of us that grew up in low income families that struggled to get by day after day.
Canadian 🇨🇦 fellow here! I really liked the interview, she is doing great! She has a huge advantage because she's able to reach Chinese manufacturers, this was really a struggle when I started my e-commerce business a few years ago. She is very smart with her money and I like that the gives back to the society. Well done! 👏🏽
Contacts still matter. That's also what I picked up.
Hi fellow Canuck. Ive been working with Chinese manufacturers for my brands Constance Beauty and Cobe Fit for years, Ive never had a challenge finding good manufacturers. Just should if you need help I'm constanceceo on the gram
@@connieb.4071 hi,
I am about to start my own jewelry business...how can I do that?
Hi @@connieb.4071 , good for you! I don't have my business anymore but it's been a very good experience and I like to follow other people's journey! Have a good day
It definitely helps but you can still find good manufacturing yourself abroad, but all of us have different strengths and contacts that put us ahead in different parts. Maybe you're better at marketing for example and that's less a friction point for you :)
She's so lovely and on top of it! Love seeing these inspirational stories! Also, Graham is going to be a fan too!
Damn her hustle is amazing! I love how charitable she is with her money! Very inspiring. I'm in the middle of jumping in head first starting my own business as well so this was just the video I needed! 😁 I wish her nothing but success.
Aww I love her spirit. She seems very genuine and down to earth.
Depending on one stream of income have never made anyone an earning check don't put your hope on Forbes.
Despite all the economic crisis this is the right time to start up an investment.
Stock are good but crypto is more profitable.
I wanted to trade crypto but got confused by the fluctuation in price.
@@Veronica-kp6sd That won't bother you if you trade with a professional like Mrs Theresa Walton.
I heard that her strategies are really good.
Love to see successful Asian immigrants!
she is pretty much Canadian
@@VeonUA I meant that she and her family emigrated from Asia.
Why make it about race? We love to see ALL successful people.
I am going to be a multi millionaire black man.
@@user-eu2me4bp7j I'm guessing you're white. There's needs to be more representation for poc. So poc have motivation and something to look up to.
She was very smart on choosing her company name. It really has absolutely nothing to do with the products she is selling but caters so perfectly to search algorithms that it probably drove alot of business to her site. Although everything on there can basically be bought off Amazon, Ebay, and AliExpress. Side note, I would really love to see videos for other parts of the country. Like Phoenix, Salt Lake, Boise, Denver, Indi, Louisville. Places like that. Stop just showing the coasts it's not an accurate representation of the whole population.
They need to receive applications from these places.
@@anoukc6928 I wonder if they are but just aren't picking them. Obviously it's all speculation since we don't have a list of the areas they get submissions from. But based on the number of comments I see saying more places should be included it's safe to guess that alot of people who don't live in the areas already featured do watch these videos.
@@kayseacamp oh maybe, I don't know 🤷🏽♀️ I'm not from the US so the places you stated above I'm not familiar with them so it doesn't make any difference to me but yes, diversity is always a good thing!
it's crazy to me that she's making that amount of money by selling masks off of aliexpress. literally nothing is noteworthy on her site.
@@vickyyyy Yeah, you know this is something I've noticed over the past decade. People claiming they make a lot of money don't always tell the whole truth! Unless their company is public, we can't verify their actual numbers so they can tell whatever they want. I have met in person people like that and often found out later they were broke...I'm not saying this is her case but I stay skeptical, people lie a lot to get attention 😒
CNBC needs to feature more women, especially from minority groups, in Millennial Money. Yes?
👇🏼
No thank you. Boring.
I would like them to feature more people that are "making it". Those who currently have a job but are also actively creating other sources of income. This would both educate and inspire those who are looking more but don't know where to start.
While I agree with the idea of representation, "minority groups" I'm tired of that words. we are not a minority and being white is not the majority.
Stop with labeling and grouping people. Focus on what’s important, success and how one can attain it. Draw inspiration from successful people not complain about inequality.
I can already hear graham's voice 😂
I know he's gonna say she gets a house but it's a little tough since she's not a citizen
@@emmadarkwa6413 You don't need to be a citizen to buy a house in the US. She's got a high income and certainly pays taxes. I'm sure banks will be lined up to loan her money for a home.
I was looking for this comment lol. Will be a good video alright when he gets around to it.
Congrats to her! Smart decision on her part to invest in real estate. That's exactly what i did when i purchased my first home/rental property in Brooklyn NY. I even created my RUclips channel to share the steps i took to buy the property
She has no debt, and has a net worth of $700k at least. I am impressed.
Well, no consumer debt. She's got a pretty hefty mortgage on that property in Vancouver. She's doing fantastic though! Hope she gets her green card soon 🙏
@@grungehamster8 She took out a 400k mortgage it says in the article back in 2014. She probably has a good chunk paid off now that it's 7 years later.
@@Potato-ug7qj The majority of the payments go towards interest for the first 13 years. Once you pass 13 years you start to pay more towards the principal than interest. So at 7 years, she has some equity. However, since valuation has skyrocketed, as she stated it doubled in value. She has a ton of equity in the condo.
My takeaway.. she focused on her strengths and the connections she already had. Then she built on that. The hard part is seeing an opportunity that lines up with your strengths.
love her hustle and drive. she compassion grows with her giving heart!
She saw an opportunity and she went for it.. well done to her.
She's doing a lot. I hope she still takes time to invest in herself (physical, mental, emotional health). Plus take steps to achieve that future family that she desires.
It’s great she saves & invest $2,000 a month.
This profile is the perfect blend of what CNBC Make It showcases in higher learning, and what we as viewers want to see for those from modest backgrounds starting from scratch- without the backing of a wealthy circle. Much more success to Shan Shan, CNBC Make It, and you, the new business owner striving towards greater goals. We're right there with you!!!
Wym she came from wealth shes a white girl
Incredible how successful her business became in such a short time 💫🙌
which is cray because the things she sells look like aliexpress...
$2600 rent is not bad. In Hong Kong (where I live) you'd probably be paying $4000-5000 for a tiny apartment in a new builting in the city.
Is that 4000 hkd or usd?
@@banshee1133 USD
30K-40K hkd per month for rent? That’s insane! Is that for new buildings on the HK island?
@@loganyang if you want to live in a 500-700 square foot apartment in a building with facilities. That's the bare minimum.
$2600 for rent here in San Francisco is still high, but an incredible deal if that's the place she's renting in the video. I remember 2 years ago chicken shacks were going for $3,500!
All the new high raises are going for super cheap. There is not rent control on these buildings so rent will skyrocket if demand returns to pre COVID levels
Talking about money with friends is important. ❤️ My girlfriends and I talk about it often, and it's so empowering; It helps each other be smarter about money and learn from mistakes.
I’m curious know how you will transition once business slows down with regard to mask wearing, etc. what other products will you offer?
she's doing socks
@@TheKuppy most of the growth most likely came from the masks
Also masks are still very popular in many Asian countries even if its slows down in the West
@@t-bone9239 for sure!
@@aminat643 so true!!
Ecommerce as a side hustle is 💯 the way to go.
Good for her, leveraging her skills and know-how with import/export into a career. I love self-made stories like this. 👍
Wow I found many similarities between us. Way to go girl 🤩
Lmao I hope to be multi millionaire by that age Idek if I can lmao. I'm 23 and saving to buy my first small property in the early 2022
"Ok, randomly type for the camera"
"Uhhh, like this?"
1:39
Good one 😂
How is her monthly budget 35k if she only makes 226k?
I think the 35k per month is how much her business makes which is 420,000 a year but her salary is 226k
@@sophiaatn5339 Ah so her personal monthly budget minus biz expenses is $8,609 ($103,308/year) ok makes sense thx
That Vancouver condo looks awesome and was a great investment. Real estate goals.
I think I've gathered enough experience from this channel to start my own business
Living On $226K (that's a lot!) A Year In San Francisco (ohhh...)
Yeah, that was my reaction too. So that’s like the average income for that area, right? Not trying to take away from her accomplishment, I’m just curious.
At $226k with no kids she’s doing well here. You honestly can do well on $100k here if you’re smart.
@@ajh.4131 226k is definitely not the average lol, it's still really good
@@ajh.4131 More than double the median for a single-person household
But she left her corporate job so now it's half of that
Love Shan Shan's personality! She is indeed so giving and values family and friends. Very bold and kind of you to share your story for others to learn!
Awesome and very insightful updates Well i will also say this here... Even as the world still experience slow recovery in terms of economic meltdown due to the recent Covid-19 outbreak, it is best advised to find another alternative to make good income.
For me cryptocurrency has been one of the best alternative mostly Bitcoin as the leading asset.
Involving in day trading backed with a very accurate signals and strategy is the best way to grow a very strong portfolio when it comes to bitcoin trading properly guided by a pro trader.
Speaking about being successful!
I know I am blessed because if not ! wouldn't have met someone who is as spectacular as expert Mr Dimitri lius
Despite the economic crisis, he has been wonderful in handling my investment and giving me a great profits within a short time.
For me I would say investing in Bitcoin is the hardest decision I and my wife ever took because at some point we were running down and didn't know what to do anymore, thanks to my colleagues at work who introduced me to professional Mr Dimitri lius
You go girl! Happy to see others overcoming challenges and being successful.
$2,800 utilities included is not spending "a lot" on rent for someone earning $226K and living in San Francisco. Not even close to a lot.
Definitely, San Francisco is always in the, "Top 5 most expensive cities to live" lists. I would even say that Shan Shan has a very good situation for her housing costs.
Dang! I looooove this series ❤️ inspiration galore
Wait a second... $500k for a condo in downtown Vancouver? That’s a great deal!
she must have bought it at least 5/6 years ago. My friend also purchased a condo in that area around then and a one-bedroom condo in the middle of vancouver dt was around 450-500k
Love stories like this. One of the reasons why I started my channel was to speak openly about money. We def need more conversations about it.
I love her so much, she has a great mindset !!
Her English is super good that I cannot tell she did not grow up in the U.S.
Living on “dollar sign” 2-2-6- K per year in San Francisco... wait for it... millennial money - Graham Stephan
When I lived in SF I shared a studio with a roommate for $1,100 a month..... for half a studio lol. Props to this woman, she’s doing great.
When the pandemic started, some people ran, some people hid, smart people sold masks and sanitizer. Bravo.
Indeed, adapting to one's changing environment is huge.
Much respect for Miss Shan Shan that's incredible she's proof that hard work pays off🙏 thank you for sharing your story with us and thanks to cnbc for making it possible, love coming across inspirational successes like this
What an amazing story and work ethic. Way to go Shan!
One of the best episodes, good job Make It!
226k in SF is probably like 100k anywhere that’s not SF or NYC lol
what do you mean
@@connieb.4071 he’s saying the 226k buying power is the same as 100k anywhere else that’s not in SF or NYC. I would add Boston to that list lol.
@@Bonanzoo Right, the 100k a year salary is a milestone for most. However, living in northern California, it's going to be 200k+ for many to feel that sense of achievement in the same way that others do.
I grew up in Vancouver and I wish I'd invested in property. Seeing her make so much money with a simple business really has me thinking its all about position. 6 years running Constance Beauty & Cobe Fit in 🇿🇦 South Africa, I think it's time to grow into the USA market.
If “typical” monthly budget of $35k, “typical” annual budget should be roughly $420k which is twice her annual income. How do you get a “typical” monthly budget of $35k if she’s making 220k/year?
Her 220k per year is probably already considering gross profit from her business. She probably makes 350k+ per year salary plus business revenue, but less business expenses that gets pulled down.
As a fellow San Franciscan I was really happy for this person until at 3:31 when they showed her budget. 26,444 dollars per month in business expenses? Did they mean to say she reinvest 26k per month back into the business because if hats the case its not an expense. If it truly is an expense then she is spending more than she is making which is a nightmare.
Finally someone who is not from New York
idk ,this is part of the reason housing in Canada is ridiculous. instead of people living there, places get bought up by foreigners for investment purposes.
you go girl!!
It is very engaging from begging to end! Appreciate it
What happens when Corona is over
Great Episode. Love to hear stories from entrepreneurs!!
I would be curious to see what her 10-year plan is with the company she owns.
Selling face masks is popular now, but I'd imagine she is going to have to expand her product offerings in the future; as face coverings (hopefully) are not going to be a permanent accessory for a majority of the population in the future.
i was thinking exactly the same thing, either she knows someone from china or her parents got connections, it's nearly impossible to get masks from China after March 2020, I was trying to do the same thing. 400 a month including doordash is really a small amount. and 2700 rent including utilities on a high rise building (new) in the city of san fran is really low, I pay 2700 for a two bedroom 1 bath condo OUTSIDE san fran, not a high rise and old. who knows, she might got a good deal. Her clothing is really nice, I'm not surprised it's a luxury brand. Overall, she's pretty much a millionaire already.
Go Girl! Very inspiring and humble. Thank you!!
Totally. Material things just don’t matter that much.
She seems like an awesome person. I would love to have a friend like that, where we help each other succeed with our financial goals.
Graham is gonna love this xD
this was a great episode!
SO if I give her a dollar, would she give me 10 dollars back?
If that's the case, sign me up for a $20,000 loan.
Such an impressive and inspiring woman! She makes me want to start a business!
Congrats to her. Lots of high earners in SF.
Because of the high cost of living in SF. If it were anywhere else in the U.S., the salaries would be much lower.
$220k after taxes is like $150k. So is she really making like 350k?
@@bigpoppa4094 the amounts are gross, not net. Also she left her job so it's now 110K
Love to see this, Shan's way of thinking and her perception of life is admirable. She has continuously kept that same humble mindset that she started out with in addition to her continuous growth! Her story is the epitome of the American dream, excited to see where continues to take her journey. & for the 119 dislikes, what video were you watching...?
$2,600 for one-bedroom?!
Man, I've heard SF was costly but WTF!
Unfortunately that’s considered a really good deal in SF. Notice how she said “pandemic discount.” Ridiculous!!
pre pandemic, one bedrooms were going for like 4000 median
I know. Years ago, I used to think about living in California (San Diego). Now, you couldn’t pay me to live there lol
So inspiring! I will be earning approximately what she earns for the first time this year and I have no idea how I'll be navigating my finances, so this video is giving me a great start to understand what I should be doing!
Here before Graham Stefan’s reaction video :)
2:38 I can relate so much
Struggle is the biggest motivation
Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.
I invested in both gold and crypto but the crypto is more profitable
The 2021 stock market has been wired and proven difficult to invest
The 2021 Real estate investment is good but i rather invest my money in cryptowise choice.
Investing in cryptocurrency is one of the best chance of making money 💸
Stocks are good crypto is better
3:28 Business Expenses $26,444 per month
26,444 x 12 = $317,328
Monthly Budget $35,053
35,053 x 12 = $420,636
How does she make almost half her yearly budget?
The best decision I ever made in my life was investing in the financial market. Trust me guys, it pays!
Most people claim forex trading is the most profitable investment online, but I dont really know how to go about this lol.
I wanted to trade forex but got discouraged by the fluctuations in price!
Get an account manager for a start. You can make a lot of money while trying to master the skillset.The best way to go in my opinion.
The best strategies don’t even matter much without investing with an expert or signing up for mentorship. Trading without an expert or mentorship blows your entire account off
Hi Sarah, who do you trade with please? I want to make a lot of money from trading.
Wow power to her. Her story and how she handles her life is inspiring.
A wild Graham Stephan appeared, everyone get your pokeballs ready !!!!!
waiting for @grahamstephan to do a reaction video #grahamstephan
This gal is amazing! she seems so kind and cool
Shan Shan: "I think the key is to just not have expensive taste."
Proceeds to eat fancy sushi cut roll and have a fireplace in her backyard. hmm
you're acting like she eats sushi everyday and she already said the only "expensive" taste she has is having a good home.
She meant material possessions. She even says it in the video. I agree with her. I’m not into fancy labels but I’ll take a modern/upgraded home any day of the week.
Woah chill people, don't get all defensive now. Please learn how to recognize a joke, it's meant to be funny. Peace
@@TheHelghastkilla aren't you the analytical one, keep up the good work
@@TheHelghastkilla considering that is the bulk of most people's budgets, she essentially does have expensive taste.
The math doesn’t’ make sense...show her net after business expenses. Its not a number to be ashamed of, she is doing very well for one-man show operation.
Girl, which consulting firm allows you to work 9-5??
fr 😂
the numbers don't make sense here at all
Why is everyone acting like reselling Ali express crap on Etsy is okay? She’s a scammer
Thanks for sharing. Stay grounded! 👍
Anyone else think the Mantra her dad says at 6:00 is exactly how the banks operate?
It's the other way around. More like when the bank gives you $1 they expect $10 back.
No, the bank doesn’t give me money 😂
@@ajh.4131 Yea I meant more so they create their own money with the fractional reserve banking system in the US
She had advantage with her parents having experience in export and import. No jealousy nor envy. Most Americans don’t have that logistics experience.