Living On $78K A Year As A Magician In NYC | Millennial Money
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- Опубликовано: 16 фев 2022
- Dennis Kim, 26, lives in Queens, New York, and earns $78,000 a year as a magician. Though he lost his gigs during the coronavirus pandemic and relied on unemployment benefits, he is now performing again, and earns money from virtual magic shows and patented tricks.
This is an installment of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.
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Living On $78K A Year As A Magician In Queens, NY | Millennial Money
Thanks so much for having me CNBC! This was a lot of fun to be a part of :)
You know taylor from wong fu productions?????
@@IrwinOchoa i met him once!! he came to see the show with our friend Kevin at the Nomad before covid happened! Awesome guy
Really Inspirational bro, do you own any real estate?
You truly are an inspiration, you have creative ways to earn money, keep up the good work 👊
@@jamaicancoder6278 thank you, not currently!
Dennis’s father left due to gambling addiction..He simply ‘turned the cards around’ and is making a living. What a story, what a man!
I have so much respect for his mother; I can’t imagine the stress of raising three sons while being an immigrant in Queens and operating a deli at the same time
What a likeable dude and he's so honest. Pretty amazing he made something he loves his job and has persevered through the pandemic.
You're too kind! Thank you so much for watching
Wow the jaw line and cheekbones on this guy! He should be a model or actor
This was another great one! Thank you Dennis for inspiring us all to find a career we truly enjoy doing.
As a healthy 27 year old (or so I thought), accidents and random health issues can happen out of nowhere. Highly recommend getting health insurance!!!
He cant afford it right now. He'll be ok until he can.
@@SirD1 he has $2450/month in investments in savings. He can easily afford health insurance
@@jsebby2284 please tell me more about where i should spend my money!
@@DennisKmagic never told you how to spend it. Simply said you could afford it. Very easily
@@jsebby2284 Agreed. Health insurance comes before savings. You won't need savings if you're dead from something treatable. High deductible plan should allow a small premium and provide catastrophic coverage (car crash, cancer, etc), which is perfect for young, healthy people.
I love episodes like this that show out the box jobs. Wishing him the best.
Thanks for sharing this story! Dennis's path and willingness to take a leap, despite the uncertainty, is very inspirational. He is level-headed and seems to have carved out a niche for himself. School always drills in our heads that the only way to financial stability is a job you can tolerate and to nor deviate from the norm, while the opposite philosophy is to become a RUclips star and do anything to remain relevant. I like that Dennis is allowing both his passion and hard work lead him on a path that uniquely fits him. 💕
His mother is stunningggg in that photo
Always love watching these and seeing how people are making money everywhere around me 👍🔥
Great segment!
Cnbc make it is the reason why Thursdays are so great
Awesome work Dennis!
Great story, it just shows you that when you follow your passion first, the money will follow.
It will continue being that way, and for anyone! Thanks for watching
I love to see Asian Americans in non-traditional professions such as STEM, law etc. He's a fellow Queens resident and is doing well. Great to see!
This video is playing in the background and all I heard is $78k and I'm a magician. I looked up so fast. Lol!
Thanks for your transparency. Kudos on your game analogy.
really dope!!
Congrats Dennis! It’s cool to see people who also live in Queens NY become successful! Great Video! 👍🏾
Fun to watch, thanks!
All the shots of Bayside, Flushing and Queens 😍
Lmao I feel like I seen him in Dozo
Hello CNBC. I would like to see video's of what Photographers would make in de USA ( NYC for example )...
화이팅! Pursuit your passion!
Loved this bro! Dennis is amazing!
Good luck!
Wow this is pretty awesome. Totally relatable as a first generation Asian in America. I’m glad you were able to follow your passions ! And not have to go the traditional Asian route that a lot of parents pressure their kids to do.
Wow small world. I met his mother in that deli. I was working on the boilers inside the building and met her when we went for coffee. Very nice woman.
Wow! Another great episode! So relatable!
Love the goal of a 50% savings rate.
He's going to have to pay 22% federal and 6% for state. So in reality it's probably in the 25% range. Which still is good. 50% savings would be amazingly grotesque amount to save.
@@ayhayuba8218 I could be wrong, but I believe it’s a 50% SR of his take home pay.
@@ayhayuba8218 Uhh, I think that’s his take home pay which in that case, he probably is saving close to his 50% SR
@@ayhayuba8218 yes that's the move unfortunately!.. actually the rate is higher for self-employed in NYS i think..50% to completely pocket would be incredible.
It would be better if he lowered that savings rate a little bit and got health insurance
Magic video, play on words completely intended.!
I love that an Asian American was featured in a job that’s not medicine, law, finance or traditional high paying profession. Inspire other Asian American kids to do what makes them happy. Glad he at least finished school and got his degree.
Are you assuming those professions don't make them happy?
@@chocolateearrings I am not assuming. I got lots of Asian friends who are pressured into these professions that are not their true calling. It’s only for mom and dad to boast and feel good about themselves. So, no it does not make them happy.
Love it!
This video requires a reaction from both Andre and Graham together
To anyone watching this...
GIVE YOUR BEST THIS WEEK FOR EVERYTHING YOU DO! 💪🔥
Need more millennial money videos
nice video
Love to see Queens get some love in NYC!
Great video!
It gave me ideas 💡 for my future
Wow magic as a full time career is hard, way to go man. Keep it up!
thanks! you rock!
It's always better to fail doing something you love than succeed doing something you hate. Keep up the grind Dennis !
Cool
Whoahhh Very Cool 🤣❤
I think he will hit six figures people in the city are flocking to shows just to get a sense of normalcy and fun.
Lets go 💪
Get after it my Korean brother. Don’t stop.
So we just gonna gloss over the no health insurance thing
He’s not buying health insurance so he can buy crypto? Ha! 🤪
This should be the top comment.
My wife works with a lot of 20-somethings. None of them purchase insurance. They would rather pay the penalty, because they reason that they are in great health, so their insurance purchase underwrites the costs of the boomers. It's not entirely untrue. But it does carry mild risks. I think that, ultimately, the logic is that they will get insurance later on.
FWIW: I didn't have insurance most of the time while I was getting my doctorate. And I didn't get regularly insured until my mid-30's. It was an awesome milestone to get that. But I haven't really needed it. And now I'm past 50.
I never had insurance in my 20s. Rarely ever got sick. Now in my 30s I would have a heart attack if I didn't have it (plus have a small family makes it impossible not to have it).
Right! That’s not a good idea to not have insurance. Even if he doesn’t get sick, an annual physical is a must to maintain a heathy lifestyle. But what can you do? Everyone telling people to put money in crypto and not your heath.
American dream! Nice. Do what you love, and Love what you do is the BEST life.
I invest in dividends for passive income. I love dividends and teaching younger people how to invest.
Keep hustling my Asian brother
“I don’t have health insurance” 😳 let’s not just breeze past that
Neither do i for the same reason he stated
@@AlexSchwartzATV if you think that’s ok, you are one medical emergency away from a lifetime of debt repayments and having your credit reputation destroyed
@@Marl-hj8hh i don’t think it’s okay lol
@@AlexSchwartzATV the reason he said is premiums are really high but he has more than enough money to pay for health insurance. The guy has $2450 in savings and investments per month lol. Health insurance would most likely be 250 max
@@jsebby2284 that’s incorrect. I used to have health insurance for $187/month but it didn’t cover much at all, even co-pays for doctor visits. There were plans for ~$700/month that would surely make me feel okay if an accident occurred. I’ll get health insurance in time. Just not now. Thanks for your concern.
Wow I love his attitude. I'm in a similar boat but I'm too afraid of pursuing what I love. He's cute to boot too! Good luck out there!
Thanks! We only live once, shoot your shot!! ❤️
This is amazing! Great job, Dennis!
It’s sad that people don’t have health insurance bc of how expensive it is.
Dennis is amazing!!! Such a hard working and smart guy. What an awesome ep!
Gosh darn it i should have stuck to magic and here i am trying my hand on youtbe.
LOL You messed up brotha. Checked your channel impressed and subcribed.
He's doing great.
He is an alliance approved magician. highly recommended!
We need more these news because they show real hope!!
Universal life insurance . Needs to go, Get a term.
GET HEALTH INSURANCE! It's the leading cause of bankruptcy amongst Americans. For $200/month, you safeguard yourself against financial ruin. It doesn't take much to have a health issue: just a burst appendix, inattentive driver, etc
The $200 plan would have like a $10K deductible. Yes, it’s better to just lose $10K than everything that you have, but it’s not going to be much help for everyday health issues.
@@gpNYC You can get a catastrophic care plan if you’re in your 20s for $200 a month that covers virtually nothing until an $8Kish deductible. Oscar offers one if you want to look it up.
I feel bad for you Americans. Choosing between healthcare and having money to live like the two are mutually exclusive. Americans are so brainwashed about universal Healthcare. I had surgery a few years back. Never saw a bill. Did my rehab, went back to work. Sickness and death are guaranteed in this life. Going bankrupt because you are sick makes no sense in a develop country.
@@InconvenientTruth50 you mean the Americans that are against universal healthcare are brainwashed. Not Americans period.
@@DennisKmagic that's fair. I stand corrected.
Well done Dennis. 👏 Keep hustling. As first generation Korean myself, I can feel you (well or at least my son will one day:) ) Lots of love from Syd Australia.
Please get health insurance. Just get a high co-pay and high deductible. You’re likely hood of seeing a doctor is very low at your age but it will protect you from a major medical situation by having insurance. One time I let my dental insurance lapse for 20 days since I never have any dental issues. On the 10th day, I had a terrible toothache and found out I needed root canal surgery. It was so painful, I had to pay out of pocket for the surgery since I couldn’t tolerate the pain for 10 more days. Please get insurance
The cash trick @6:34 is great but wouldn't try that in Queens, or at the subway, lol.
This series used to be more interesting. I feel like every week you have essentially the same exact person nowadays. Saves lots of money, invests (often in crypto), churns credit cards, has a very stable life, etc. etc.
I'd rather see an actual average person from time to time. Millenial Money used to even showcase people who had terrible finances. Let's have some variety
(No disrespect to this guy. He seems very nice and is doing all the right stuff)
Yeah. I have to admit I miss that as well, although I do find this one interesting since its not a typical career.
Biggest compliment I received in a while. In reality, my life is quite average. Just have an unconventional career. I don’t think an average person has terrible finances. I don’t even think my financial diligence is near where it could be! It’s somewhere in the middle, hence why I am average. Don’t let this edit skewer your perception of people! I’m just like anyone else in many ways
@@DennisKmagic yes, but let's be real. The average American is not doing a very unique job like you are. They're doing something quite conventional and probably mundane. They're working in a factory, they're working retail, they're working in a cubicle for a big corporation. Also, the median income in the US is well well below your 78k. Like, less than half that.
You may think you're average, but you're certainly not. You're quite exceptional. And I give you a lot of credit for being unique and good with finances.
alright, i’ll wait for graham stephan’s reaction video now
Investing early and being smart about money is the best way to continue doing what you love and getting paid for it. awesome energy and story!
well, I got used do not trust much to what I'm seeing on social media. But if you Dennis have that budget in real life, - Kudos. The food budget looks too low unless you are eating non-stop rice with spam.
my mom brings me food from time to time! And I almost never takeout. I mostly make food, and some of which I split with my girlfriend. Cheers and thanks for watching!
@@denniskim2665 Didn't expect you will respond! Thanx for explanation and sharing with us such an experience :).
@@arishem555 no problem at all! Thanks for your time 🙏🏻
Cool guy I like the fact that he is saving and maxing out his Roth IRA.
health insurance is too expensive (making 78k), which is he is correct . f this country.
I used to have health insurance but copays and deductibles made it still not worth it. I’ll take my risk with emergencies, either way I’d become broke even with insurance which is sad in this country
Wait, I thought American system is the best in the world and can do everything like what they say on TV. I guess not. 🙄
John - its not correct.
He has $2450/month going to savings and investments. He can afford health insurance
$2300 with a roommate in Queens? Nah bro....
He's paying $1150/month rent...that's actually a bargain for living in the NYC area in 2022.
NYC is so over priced it’s insane
@@9770G What are you comparing NYC rent to?
i got this place oct 2020, prices were down around the time. We're lucky to have gotten this place but it doesn't come without its problems not mentioned in this video. Cheers!
@@ktg8670 Oh, my bad. Thought he said he was paying 2300 for his portion of the rent
Be a RUclipsr!!!!!
I'm so confused. Is the $78k after tax? After federal, state, and NYC taxes the income after should be closer to the 50/60k range.
That is correct. When people state what their salary is, they don't say the number post-tax. All pre-tax numbers
@@DennisKmagic so if I understand correctly, your $78k is pretax? I'm not judging at all, some expenses seemed a bit high (I'm in a similar income situation/minus NYC tax).
@@Eric_Renn Since I don't have taxes taken out of my pay, I pay a tax bill instead. A portion of my savings are dedicated to this tax bill.
@@DennisKmagic I'm in the same situation, self employed. But $1,000 in upstate NY taxes plus federal doesn't cover full taxes at all for me. Do you maybe pay the minimum during the year and the rest during filing?
AY! 4:59
AY!
So he only pays 13k of income taxes?
There's business expenses to deduct too
I don’t understand why go out-of-state and pay out-of-state tuition to attend a public state school? There were no good options for nutrition program in SUNY?
Tell that to my 18-year old self who had no idea what he was doing. This is also the case every year with many graduating HS seniors. You never really know what you want to do at that age, and the pressure to "figure it out" then doesnt help. You think I went out-of-state to study nutrition so I could become a magician?
Tell me what he’s so cute for
Hahah you’re too kind!
Health insurance may be more important than the universal variable life insurance. He did not mention if he has dependents.
Making $78k in NY is not much
Agreed! No one said it was
I wanted to invest in Crypto but got confused by the fluctuations in price
@Joel Yohanna I use Mr Graham Stephan trading signals for four months now,and I haven't seen anything like it.
I have made over $39000 USD this month from his trading strategy
@Joel Yohanna Message him through What's app....👇👇
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@William Trading on your own is very risky, I’ve lost a lot trading for my self
🤣🤣
Jesus loves you he died on the cross for your sins. All you have to do is believe in him and you will be saved. ❤
Did he just say health insurance isn't worth it? lol I guess paying 50K out of pocket is worth it when you break your leg or something god for bid happens
I’ll get insurance in time. Didn’t have an opportunity to elaborate. For a plan that would cover a 5-figure bill, I would be stressing over the high monthly premiums. With the pandemic in mind and doing much remote work with not much to do in the outside world, I’ll take my chances for the time being. Thanks for your concern
Wow! He's playing the Bitcoin ponzi scheme game along with all the other millenials!
Don’t wait until 2030 to get in.
He will lose everything when he is hospitalized. You can't go without health insurance in the US
i can't wait
so basically his college degree was a waste
Gen Z money.
Millennial making Gen Z money*
First-generation means immigrants - people who were born outside the US and had a different citizenship at birth. They are first-gen immigrants initially and turn first-gen US citizens later on. Kids of immigrants are second-gen US citizens (born as US citizens).
I think you misread the underlying context. Typically when people in the US use it, it is a shortening of “first-generation american.” They are the first in their families to be BORN in the US. It’s signaling that previous generations were immigrants and that they are now born-americans, but still have influence from their families heritage which hints to the cultural differences they face among other americans. Some people also adopt the american identity despite being immigrants if they moved to the US at a very early age and grew up in the US through their formative years.
I dont know why in America this is a big deal. 😑
This is plain incorrect
It's not magic. There no such thing as magic.
It's all mind games.
You are living in lies, you can't have a good life when your job is not a real one.
I'm literally living in lies, I lie professionally
Magic isn’t gonna pay off. Use your degree and get a job that pays for health insurance. Don’t waste time paying silly games. Putting unneeded stress on his mother who worked hard to put him through college. He should be embarrassed sharing his story.
like you're doing any better yourself. (and please don't come with the lies. your comment proves you're not doing much.)
… his story is great. Stop hating. Ever heard of pen and teller? They are worth $30m dollars, and what do they do? Magic.
@@Chefchandreviews He’s nowhere close to Penn and Teller.
@@pattern-play I work in tech with no degree with stock options and make 95k a year. That’s nothing when compared with if I had a degree. It’s foolish to chase a dream that’s going nowhere as an assistant to a magician who does Amex conventions. Zoom magic ain’t paying 78k . He should take advantage of his education and not waste time.
He is doing what he enjoys and making money. How silly of you to criticize him. Shame on you. . His mother should be very proud.
Is this after tax or before tax?