Millennial Money: Engineer Earning $75K a Year in Atlanta Georgia
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- Опубликовано: 6 янв 2020
- Tony, a millennial, lives in Atlanta, Georgia and works as a chemical engineer at a consulting firm. He co-owns a house with a good friend and they rent out the extra bedrooms to two other co-workers, effectively operating a "house hack" resulting in very low housing costs. He also pays down his mortgage principle in order to shorten the expected term from 30 years to 14 years
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Since Tony travels often for work, he receives pretty lucrative credit card rewards, on the order of a few thousand a year. Additionally, he earns an annual bonus of up to $15,000 a year.
Tony's podcast, Engineered Health, is available here: anchor.fm/engineered-health
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Tony maxes out his retirement savings handsomely (401K, Roth 401K and HSA accounts) and still has plenty of funds so he can indulge in some of the finer things in life such as dining out, cooking, playing video games, watching Grateful Dead music videos, and slaying it in the weight room.
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I hope you found this video informative in regards to the cost of living in Atlanta Georgia.
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budget breakdown financial independence health savings account what i spend in a week
#money #investing #career house hacking
1:19 If Graham Stephan ever stumbles on this video the eating out section is going to send him into a cardiac arrest
Hahaha he will see it very soon, I'm sure!
OMG! I had the same thought! 😂😂😂😂
I literally choked on what I was eating when that slice of the pie came up! If I were driving while watching this I would have crashed 🤣🤣🤣
I respect the "not wanting to grind and just live comfortably moto".
Tony is a very wise and admirable man!
That’s much more feasible when you’re single and don’t have kids.
@@sdot7117 I think the not having kids part was implicit in the "comfortable" part of that motto
I respect his decision to live comfortably.
Indeed! Quite admirable.
I thought my 300 dollars a month coffee budget was over the top, this dude's monthly eating budget is INSANE.
we work hard for this money.... might as well spend it on what makes us happy! :)
@@antonioM6896
True.I believe in being conservative with money in theory. However, I really suck at it too. I am struggling to stay on budget but over 1000 a month to eat out is insane to me.
@@antonioM6896 Also u're are handsome AF! Wishing you happiness and good health!
@@antonioM6896 Just wondering do you guys ever think about building generational wealth or jusT live it up for the moment?
@@mjz187 It's not something I consider. I hope owning my home by 2037 will be enough for future generations!
Well done. Thanks for being open. You’re on the right track....
Thank you!
Don't forget to check out Tony's Podcast "Engineered Health" which is available on Anchor and will become available on other platforms shortly: anchor.fm/engineered-health
bought the car for $1500, thats really smart. no car debt with silly car payments unlike alot of people.
Love this series! Interesting to see how others budget.
Thank you! Yes it is interesting, and I really like that people are willing to share!
I love these types of videos. Subscribed
Thanks for the sub!
This house is absolutely beautiful
It is really nice! He is quite happy with it!
Great video! Hope you do more!
Ruskin Seabrook Thank you! Actively seeking new cities to host Millennial Money
Awesome video man
Love that he has no car loan and splits his mortgage up 🙌🏾
He is quite clever!
@@IanSeabrook How did you find your roommates ? I'm thinking about doing the same thing with my home.
Great that he is maxing out his 401K and enjoying food too
Love how you produced your own Millennial Money, I did the same on my channel.
Great work on the video, Ian!
Thank you! What was your favorite part?
I think your pie charts were informative and easy to read!
This channel gonna get mad subs soon 🔥 🔥
Hahha thank you I’m hoping so! Glad u like my stuff!
Here before Graham Stephan reacts to this. Fellow engineer by the way.
Yoooo 🙏🏼🙏🏼
One thing I don't understand is he bought this house with a coworker. What if one of them or both want to start a family? Would each family get one floor? How would that work? Interesting video nevertheless, I make exact same amount before tax (that's why I found this video) but our expenses are vastly different. He seems to enjoy food and supplements so I am sure he doesn't see it as a waste of money, it's probably bringing him lots of pleasure so I can understand it even tho my grocery+eating out budget is almost 1/4 of his.
We ended up selling the house and making about 75k each. We just had to come to a gentleman's agreement and make it happen. Thankful for freinds!
People complaining on how he spending his money I’m sure he handling his money right he seem like it he’s enjoying life comfortable and he ain’t complaining about he struggling he can still do what he wanna do he has no kids that’s a big plus and hes single and has a good job I’m sure his bank account isn’t empty
Thank you! Agreed! Although he has recently exited the singledom sphere!
Haha wondered how you were affording that beast of a house! I make about 4400 take home a month and I'm really tight with my money, even a 300k house looks a bit too expensive for my income but hopefully I'll make more and eventually be able to buy if the market goes back to normal...
David, you only need 5% down on a home loan, and with a credit score >840 I was able to get an insanely low interest rate. Couple that with the "house hack" Ian describes (that I rent 2 rooms), and this is a super cheap living situation!
Your pretty good with your money! Good job
Great video! Very CNBC inspired hahah. Would love to collaborate in the future!
Thank you! Definitely haha, you're millennial taking money and I am money talks, couldn't get better than that! What part of the country do you live in?
Ian - Money Talks right outside of Washington D.C.!
Thanks for watching, if this video gets 500 likes I might do a face reveal in the next one!
Dude you can easily buy an expensive German car. Why drive such a cheap car with that kind of earning? Like a BMW or something. Is it out of fashion in Atlanta or something?
I feel sorry for you you need more subscribers
half way there to a face reveal !
I know salary is based on location and company. Just wondering if you can tell me what is the highest salary you have seen a developer make in Atlanta GA? Thanks!
Idk if it’s because it’s in Georgia or because it was two years ago but his cost of living seems dirt cheap compared to mines in Connecticut
Georgia is cheap for real its just the taxes and stuff that is very high .
This is too on the nose! I’m just getting into the job market and I currently live in Miami Florida and I was looking for a job in Georgia because all my family is up there now, and the job I was looking at has a salary of 75k
naw y'all weirdos stop coming to Georgia frfr.. That's why y'all keep getting abused because natives are tired of transplants
Here before this blows up
Ahahah don’t be hasty
Same!
Well done, bro. I appreciate your budget and perspective, and as a kid who’s dad worked at Saturn growing up, appreciate the Sky. $1500 is a steal for a fun, manual.
This guy's salary is close to mine, some things look interesting in this video. The obvious being this guy is a walking contradiction. On the one hand he's frugal and efficient with his money, like buying a six-year old car with 100k miles, but on the other hand he eats and drinks everything in site on $1,700 a month between groceries, supplements, and dining out lol
I'm not sure if I could live his exact lifestyle, but I think he's a decent example for people trying to do better in life. He doesn't have any credit card or student debt, he's building equity in his home at a very fast rate, and is really setting up a comfortable retirement. All in all, not a bad guy
Although I question the accuracy of some of those numbers. I have a hard time believing he only spends $39 on hair cuts and massages. If they were that cheap in Georgia I'd drive up from Florida just to go get one 🤣🤣🤣
7month late but where I live haircuts are $20 & also depending where you are in northern Cali.
Going to the doctor OR medicine. Sadly relatable
I'm 28 and make 85K. But I have a daughter and a stay at home wife and have to pay our full mortgage of 1450. If I was single I would totally split my mortgage up with some people but I don't think the wife would approve 😅
He eats out alot. For a side hustle he should find ways he can eat out for free .
are there any good ways of doing that?
@@IanSeabrook This is not necessarily guarantee free but he could use apps like hooked for discounts. Also, if he eats out a lot at a certain restaurant he should download the app for that restaurant so he can get discounts. If everything else fails he could become a food influencer.
@@IanSeabrook apparently there is something go secret shopping
This is what I also want but with more services of income as a Civil engineering’s
So you don’t save any money aside from retirement?
Love watching how people spend money. Cnbc make it so many mellenial money videos as well.
Yes it is quite interesting! Glad you liked it.
He has a lot of fun
Indeed he does!
@@IanSeabrook Fun's the priority!
How is he maxing out his 401k? When he's only contributing 600/month? I make a little more than that and contribute 20% and never have contributed to the limit.
I am not sure now that I think about it. Maybe he is just maxing out the 401K match limit.
Mohamad, Ian is correct! I max the company match limit and then apply my yearly bonus (not included in the salary) directly to the 401k. It usually is just about the max! Hope that helps.
@@antonioM6896 thanks for the reply.
6,000 does not add up to the annual
I make more than that and don't live that good 🤔 yes I need to rethink some stuff. He did co purchase that house though in my defense I guess... Makes a huge difference co purchasing plus renting out in the property.
yes house hacking for the win!
OMG I realize THAT U HAVE A ALOT OF SUBSCIBERS IM SO HAPPY😂I’m doing happy tears
Videos likes these make me grateful
That I take home double that working a trade job……
That’s awesome, Alexander! What kind of trade do you work in?
I love his honesty and commentary: “eat shit budget” 😂
He lives better than these gurus😂
Sure does!
Dam that's a good deal on the car
Bin Chen - Real Estate Simplified yes I was surprised. Only 6 years old when he bought it
You bought a house with a co worker...............
Sounds like legal problems down the road
Why lol
They just bought it as if they were married. People do it all the time.
@@IanSeabrook we purchased it as an unmarried couple. Perfectly legal
@@antonioM6896 Indeed, what I meant. No homo
@@antonioM6896 what will happen if you and Jason start a family? I guess one of you will have to move out.
only $400/month for house? that is very cheaaaaaap
It is quite impressive! The power of house hacking!
@@IanSeabrook Yes I’m currently moving to a cheap apartment in order to save up and buy a house to hack in Atlanta! It’s such a smart move!.
Voice of America behind the iron curtain please be careful with the broadcasting info and the stone throwing in politics loose the press you might not get it back so easily
Was under the assumption he was able to afford this place by himself. No wonder he can spend what he spends with 3 roommates...
It is quite the “house hack”!
Why this white dude hv some swag lol
I’m middle eastern bro!!
Engineer only making 75k a year. Damn, I didn't know they got paid so little but it seems like he lives a very comfy life. Not looking to do much in life. Jus living normal. I couldn't do it though, house you can't really afford so have all these roommates, bunch of weird expenses but hey. He seems happy!
Hey Treyveon, thanks for the comment! I make a lot more now! Check my update on Ian’s channel!
I forgot radio free Europe citizens band radio protect your freedom use it don't abuse it
#qanon
My god people just blow all their money 😂
What’s the point of making if you can’t -calculatedly- spend it? 😄
8/10 good
,qthe elected official you don't listen to now trying to impeach another one chapter assination doesn't make America look too smart any more stand beside her and guide her thru the with a light from above and a voice of. Reason
#qanon
Was this 75K after taxes? 🤔
Before!
2:28 hmmmmmm Co-WOrker.....MmmmmHhmmmMm :p haha kidding.beautiful house.GOALS!
Hahaha I know, scandalous.
Ian Seabrook 😆🤭😍
Jason and I are legally an "unmarried couple" 😆
@@antonioM6896 hahhaha.Much love! ❤️
@@IanSeabrook bro, you make too much money to be living with room mates, i make 84K/yr and i gotta have my own space even at the expense of not saving as much because i dont have room mates...
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.