How I Manage My Income | Income Streams, Investments, Retirement Planning
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- Опубликовано: 3 авг 2024
- Welcome Back! In this video I share how I manage my six figure tech income, my investments and general personal finance strategy. Please checkout 80,000 hours: 80000hours.org/bukola
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► Connect With Me
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► Personal Finance Books
geni.us/BrokeMillenials
geni.us/TheBogleheads
geni.us/RichBitch
geni.us/SetforLife
geni.us/RichDad_PoorDad
geni.us/PsychologyofMoney
geni.us/PathtoWealth
geni.us/IWillTeachYou
geni.us/CommonSenseInvesting
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► Timestamps
0:00 - Intro
0:32 - Background/Goals
1:50 - Income Streams
3:30 - Tax Advantage Accounts
5:05 - Sponsorship
5:59 -Tax Advantage Accounts p2
8:07 - After Tax Investments
BUSINESS INQUIRIES
info@bukola.dev
Thanks for watching! Let me know in the comments how you manage your money!
Just graduated and would be earning a 6 figure salary but I don’t understand how to save. This was a great video to watch
Love the charts!
Since you live in JC now but work in NYC, do you get a special tax return? It's something I've read on Blind/Reddit/RUclips.
@C Y what is a special tax return
I needed this! Thanks for sharing 🤙🏾
No problem!!
I love how you explain everything and i love following you. Huge fan here.
Very inspiring! Finding your channel is one of the best things to ever happen to me, it motivated me to change careers, join the tech industry and start my own Tech RUclips channel. Thank you!
Thank you Bukola. Would be interesting to have the breakdown % across these different vehicules. Love your content.
Very organized. Thank you for the content 🤍
TBH i found you because Graham Stephan did that weird review of your Millennial Money episode and I deadass don't follow HIM anymore but I'm still here so...says a lot.
Thank you for being so vulnerable in public, Bukola.
Love all your videos Bukola and this one is no different! Thank you so much for sharing. I didn’t know there was such as thing as a back door roth!
Shouts out to my fellow Naija native. Your videos helped me out a lot when I first got into programming and I also enjoy your videos about finances.
Exactly the info I needed for next month.
Awesome glad this was useful!
love your videos. You speak very clear
I appreciate that!
This is a really great breakdown, thanks!
Great info thank you for sharing! 💕
Very helpful!
Glad you think so! Thanks for leaving a comment!
This is Gonna b so Helpful🔥🔥🔥👍….
this was really great and you gave really great explanations too! Thank you!
Taking notes! 🧐📝
Wow this is great information
Very informative 👏🏾❤️👏🏾
glad it was helpful!
Excellent content
Thank you, I'm glad you enjoyed it!
I seriously hope you consider doing a collaboration with Chelsea from the financial diet
I love this! Thanks for sharing with us something so personal
The RUclips algorithm should recommend more videos like these
I’ve watched so many finance RUclipsr videos and they all say the same thing. Your info on HSAs and Mega Roth IRAs was new and very informational and I really appreciate it
Thank You!! This video was very helpful for me.. I am looking to make some changes in my financial future and your video has given me good information to research!!
Thanks for sharing. As always, amazing content
I love your finance video’s and travel/digital nomad content (shorts). I really look forward to new content of yours
Awww thank you I really appreciate that 🥹🥹
You skin understood the assignment!! Please share the deets on the skin care regimen
Thank you!! I use retinol x3 week & sunscreen everyday and I'm wearing makeup too so that helps haha
Just found your channel and feel I have so much to catch up on lol. Love the content. Very inspiring! Thank you
That’s a good video. Thanks for sharing this information. I love investment too. My main investments are in transportation, real estate and the food industry. I love listening to you. You are very beautiful
New here I just subscribed I really enjoy your content
Thanks and welcome to the channel!!
your graphics and editing styles are evolving! I can get a better understanding of your personal finance. Did you ever consider making a video about managing personal finances before getting a huge tech offer at Google (when trying to break into tech)?
Such an honest and informed rundown of your finances!! I learned a lot thanks!! ❤️❤️
Thank you for making this video!!
Super informative and helpful video, thanks for posting!
I would opt out of Target Date Funds if possible. Especially since ETF’s and Index Funds are so much better overall.
Just bought VTSAX earlier today. I contribute up to employer match in 401k, max Roth IRA with Vanguard, taxable brokerage with Vanguard, and ~5k in crypto. Down about 45% in crypto now. Keep up your good work Bukola!
HELLO FROM ANOTHER FIRST GEN IMMIGRANT FROM LAGOS LOOKING TI GET A CAREER IN TECH
Great video! Super informative
Glad it was helpful!
Thanks for the tips and other great videos ✌🏻 you are an inspiration
Quite informative!
Thanks!
alright, Universe, I hear you, I'll get the HSA account.
Taking so many notes rn lol! Thank you for sharing! Also 80000 hours looks like a great resource.
Thanks for the info, I could manage my money better once I get rid of these student loans
Understanding the whole Tax system 🤔
Your videos are super awesome, inspiring and motivating... I really appreciate your content.
HOW IS THIS FREE?! This is such great info!!!!!
Thank you 🥺🥺
Yes if you are interested in doing classes that's another steam of income for you.
I love how you always provide full disclosure in all your videos. I've been following since you started in 2019 and i'm so proud of your growth! 👏👏👏
All great info! My philosophy around money though, is very simple. Don’t always live in the moment, but don’t live as if tomorrow is guaranteed. It’s good to be practical with saving and investing money, but it’s also good to enjoy life a bit, which is what you seem to be doing.
Hey Bukola. Great video! Are you contributing to your investment accounts (index funds) throughout the year or just after maxing out your tax advantage accounts? I frequently go back and forth but want to be efficient.
hi this is unrelated, but your hair looks great! if its a headband wig, can you pls share deets?
Thank you! I get my extensions from 2 places KRS Hair (black owned) &Queen Weave Beauty
Was that YNAB (You Need A Budget) you were using at the beginning of the video?
Yep it’s my favorite budgeting app!
Thanks for the transparency Bukola. I just joined Google last week and this is my first time dealing with RSUs. So are taxes witheld on the RSUs or do you have to sell some RSUs and keep the money to pay taxes later?
Congrats on your new job! So with RSUs they withhold a portion immediately when they vest to cover income taxes, then you pay capital gain taxes when you sell if the shares appreciate
This was acutely helpful. Many people talk about savings , but you nailed down on options, strategy, and highlighted that there CAN be a independent perspective to investing. Many of us are just entering into the six figure landscape and don’t have the references or guides to teach us about tax sheltering, etc. so THANKS for being a representative voice.
Hi, Bukola. This is very random but I need your advice. I have great passion in writing documentations, organising workflows, building teams, coordinating programmes and overseeing projects from start to finish.
What could be my ideal role?
I'll really appreciate your response.
Independent contractor and put it fiber…
This stuff should be taught in high school.
I agree!
Great info!
Don't invest in doge coin guys.
Agreed, don't be naive like me 😆
Video was helpful. I definitely could use more easy guidance. I would even welcome the guidance of a person - the way my attention span is set up, it's hard no to be overwhelmed by all of this! Thanks for explaining 🙂
Hey great info, did not know about the mega back door workaround. Question for you, aren’t you missing a 1/2 year of employer matching when you max out your 401K early?
Love this video … helpful hopefully 🙏 I can’t breath into tech one I get my degree 📜.
Mikasa❤️
This info is so vital! I feel like there’s no point in making a lot of money if you’re not investing it semi-correctly 😀 excited to hear more!
Absolutely! I wish I knew this information earlier 😅
This was insightful. I found the HSA and Equirty part most interesting. What are your thoughts on Financial Planners. Do you have one why or why not? My peers in the 6 figure range have one, I've had one in the past and I have some regrets.
I’m considering getting one just to make sure I’m on track to reach my goals! It doesn’t hurt to get a second more informed opinion
Love this! Did you have loans to pay off at the beg of your career? Just curious since I wonder what to prioritize - student loans or investing
Are computer programmers the same as software developers?
yes, software development is a form of programming
Yep
Wow this is great information bukola. I just got a new job paying 6-figures and want to invest much more than I have in the past. This is a great outline to work from.
Congrats
Great video Bukola!! I wish we had all this type of guidance when I was in my 20’s. My family didn’t provide guidance or discuss these things openly. I believe I actually will have generational inheritance but regardless people should still plan and prepare more aggressively. Thank you for sharing all this info!!!
I thought HSA funds can only be used for medical payments? Please elaborate more how we can use the HSA funds. Thank you! Love your vlog btw, it's it's so informative!
You can use for medical related expenses anytime.
You can pay out of pocket and keep receipts, then reimburse yourself anytime.
Or you can access at 65 for any reason
Thanks for the content. Fire does not work when the stock market takes a 50% drop, when you or your love one get sick or when there is layoffs. That plan relies on a lot of hope. There is more control and upside in starting a business that solves a need in the marketplace during those 10-20 years.
Sorry but isn't the "mega backdoor Roth" different from the "backdoor Roth"? I thought just the backdoor Roth was being described in the vid, just with a much higher limit than what I've heard about 🤷🏾♀️
@Bukola @N E J Yeah, I meant more that the "mega" backdoor Roth conversion goes from _after-tax contributions_ in your employer's 401k offering to a Roth account (either a Roth IRA or Roth 401k, whatever your employer lets you do). A "regular" backdoor Roth goes from a traditional IRA to a Roth IRA only and is limited to 6k/year, which is what was described in the video with the higher $$ limit that's associated with the "mega" option.
It's important not to get them mixed up because your taxes can get weird due to the limit difference between the two conversion types.
Do you always invest the same, regardless inflation, recession and depression?
yep I plan to do the same thing if we have a recession and regardless of inflation.
If you max your 401K in the first six months of the year don't you miss out of the other half of the year's company match? I ask, because that's exactly what would have happened at my old employer, to the point that at the start of the year HR would send an email with the calculated dollar amount that those wanting to max and take advantage of the match should have deducted per paycheck.
Some employers "true-up" on a specific date. My current employer does not, but previous employers did
Since you plan to FIRE in 10-20 years, how did you choose/adjust target date funds?
I genuinely appreciate the honesty, transparency, and, most of all, time you invest into making informative videos. It's both hard and frustrating to sift through the myriad of videos masquerading under the pretense of honesty and sincerity. I am thankful that I can rely on your videos.
I had hard time understanding tax in ur video. I felt I didn't understand tax part.
Which part? I can answer your question here
If I contribute into an HSA account, do they require that the money should be used strictly for health purposes upon withdrawal? What if I don’t end up using the money for healthcare at all?
3:13
I really appreciate the transparency! Showing both the highs and the lows, real good job :)
How much do you make on RUclips per video?
For Adsense, it really depends on the time of the year… right now it’s somewhere between $2-$4K in Adsense
@@Bukola1 thank you, love your content
Really enjoy the finance related videos. Keep up the good work!
Thank you ❤️❤️
What your savings rate?
over 50%
People in America really do pay so much in taxes
from what I've heard its less than other Western countries
I don’t manage my money at all 😭 thank you for this, I’m actually going to get my sh* together
Why don't you invest in real estate like 90% of today's millionaires?
Are you a software engineer?
I was but now I'm in Dev Rel
Doge coin.😳 Other than that just hang in there it'll bounce back.
good strategies for the most part . in regard to your crypto currencies, I'd tell you to swallow your pride and get out as they are all going to go to zero. there is no value in these things.
ughhh I'm conflicted!!
Why must everyone know you earn 6 figures?
So as a content creator I need to choose the best title, that will get the most click so the effort and time that goes into these videos doesn't get wasted! If you know a better title lmk
Lol stop being jealous
why don't we want to know that lol. humble brag and straight-up facts are different.
@@Bukola1 Hi Bukola! How do I get into SWE without a getting a degree in the field. I know you have the same path. Any ideas?
I made a video about how I did it, here: ruclips.net/video/2i3v1BbKbs8/видео.html&ab_channel=Bukola
Just Came from @SelenaTrevino and I fell in love with you when you mentioned that you are an african. You just earned a subbie and I can tell I'm going to learn a lot from your videos.