Black Excellence: THE 27-YEAR-OLD MILLIONAIRE WHO SAVES 80% OF HIS INCOME

[DOS_patos]

Todd Baldwin is a 27-year-old millionaire who saves 80% of his income a year and refuses to spend his money on restaurants and the movies, CNBC reports.

Baldwin brings in roughly $615,000 ($305,000 after business expenses) thanks to a few streams of income from rental properties, his day job working in commercial insurance sales, and the extra income he makes as a secret shopper. The majority of his revenue comes from the six rental properties that he owns with his wife, Angela. They earn $460,000 per year in rent. After expenses, including mortgage payments, taxes, insurance, and utilities, they keep about $150,000 of that per year.

“Although our net worth is seven figures, we don’t do a lot of the typical things that most people envision millionaires doing. We are super frugal,” Baldwin said. The millennial millionaire refuses to spend money on entertainment, he told CNBC Make It, “but only because I know how to get paid for that.” Baldwin is a “secret shopper” who gets paid for dining out, going grocery shopping, seeing movies, and even visiting hotels and casinos.

Being a mystery shopper, the exact amount you earn per outing will vary. Most companies pay a flat rate between $5 and $25. You’ll spend another 30 minutes to an hour writing your report for the company you shopped for, according to realwaystoearnmoneyonline.com.

Baldwin has made about $30,000 since he started mystery shopping years ago in college. The surveys he fills out after the experience aren’t too time-consuming. For that reason, he has a hard time justifying spending money at movies and restaurants. “If a buddy wants to go to a bar or someone wants to go see a movie, I usually try to wait until I can get a mystery shop,” he says, “because if you’re going to go there anyway, you might as well get it for free and get paid on the top.”


In a world where most people make spontaneous purchases, Baldwin’s frugal spending habits are a smart move. According to Entrepreneur.com, three of the main reasons that millionaires go broke or bankrupt are they didn’t have several streams of income, they made pricey or emotional purchases, and they didn’t track their spending.

 

[CeLLar-DooR]

SO to him but he lucky enough to be in a position where he can save and spend. That super frugal shit not for me at all

 

[Dwayne]

Okay

 

[Focal Point]

Props

 

[16bitSheez]

I struggled with being frugal for a long time. My lifestyle wasn't built for that. I always found it easier to simply go and increase my earnings to keep up with my spending, as opposed to just trying to cut spending. Now though I'm slowly transitioning into a form of Minimalist living.

 

[Love]

Good shit

 

[CeLLar-DooR]

Let's be clear tho', him not spendin' money on movies and eatin' out etc is not why he rich, as far as the article says

 

[AP2.5]

let's not ignore how much he pulls in after business expenses.

that matters as well

 

[Chicity]

This is cool but.....it ain't thread worthy

 

[SneakDZA]

“If a buddy wants to go to a bar or someone wants to go see a movie, I usually try to wait until I can get a mystery shop,” he says, “because if you’re going to go there anyway, you might as well get it for free and get paid on the top.”

Baldwin has made about $30,000 since he started mystery shopping years ago in college.

This guy's a fucking dweeb.

 

[DOS_patos]

This is cool but.....it ain't thread worthy

This guy's a fucking dweeb.

yall some cloudy day at the carnival ass niggas.
but when i post up about ....nevermind......you want to fight?

its the only way to solve this

 

[LurkerSix]

Theres being frugal, then theres unnecessary penny pinching. I dont take financial advice from penny pitching weirdos.

Also, I dont consider someone to be a millionaire till they can write a check for a million dollars that gets cashed. Im not wit all this paper millionaire shit.

 

[DOS_patos]

Theres being frugal, then theres unnecessary penny pinching. I dont take financial advice from penny pitching weirdos.

Also, I dont consider someone to be a millionaire till they can write a check for a million dollars that gets cashed. Im not wit all this paper millionaire shit.

So assets don't count,?

 

[LurkerSix]

So assets don't count,?

To me that theoretical money. Something is only worth what someone else is willing to pay for it. If you put it up for sale and no one wanna buy, you stuck.

 

[DOS_patos]

To me that theoretical money. Something is only worth what someone else is willing to pay for it. If you put it up for sale and no one wanna buy, you stuck.

It what if the rent charged, paid for the property. Plus some? I still made out even if I can't sell.

 

[ImaInfluenza]

Let's be clear tho', him not spendin' money on movies and eatin' out etc is not why he rich, as far as the article says

Pretty sure he's homosexual too..

 

[Gemini Til Infinity]

Frugal or not, this guy seems to be making good financial decisions...





but I just did a Google search and of course his wife is a basic looking white bitch.

 

[ImaInfluenza]

Frugal or not, this guy seems to be making good financial decisions...





but I just did a Google search and of course his wife is a basic looking white bitch.

Lol..I love that we went straight to hate

 

[LurkerSix]

His wife isnt that bad. She just the typical regular looking white chick that you expect lightskin dude, raised by his white mom to have. But the more I look into this story, the more I wanna cuss this nigga Dos out for posting a nonstory.

How a 27-year-old millionaire in the Seattle area spends his money

Todd Baldwin is a 27-year-old who lives just outside Seattle, WA and brings in $615,000 a year. His day job is in commercial health insurance and earns him $150,000 per year before commission. He owns 6 rental properties with his wife Angela that net $12,500 per month. Here's where his money...

www.cnbc.com

If you watch the video in that link it tells you more details. Him & his wife bought their first house a the age of 23. He also takes home 150k a year from his job, before commission. So basically this story is about a guy in his 20's with money, that makes more money, aka a nonstory.
This article also shows how much of a miser they are & im sure no one on this site would live like them ( including you @Sion ) with that net income. They have roommates in their house & AirBnb a room(which they call house hacking). Keep in mind they own the duplex they live in and completely rent out the other half next door. They say they rent the rooms & converted garage on their half because, that way they live for free. They also share a car which is an 09 base model ford focus.

IDK if anyone on here noticed this. But theres a current trend of running stories on frugal well off millennials & its marketed to older readers as if to imply the younger generation is poor because they are lazy and not because of the current corrupt system. But anytime you really look into it, its clear these people didnt make their money by not buying a netflix subscription, not going to the movies or by buying/driving a 10 year old car. It always turns out they already had money & turned it into more money. Nobodys getting rich and retiring early by buying all their cloths from thrift shops or Walmart.

They go into more detail in this podcast

 

[DOS_patos]

His wife isnt that bad. She just the typical regular looking white chick that you expect lightskin dude, raised by his white mom to have. But the more I look into this story, the more I wanna cuss this nigga Dos out for posting a nonstory.

How a 27-year-old millionaire in the Seattle area spends his money

Todd Baldwin is a 27-year-old who lives just outside Seattle, WA and brings in $615,000 a year. His day job is in commercial health insurance and earns him $150,000 per year before commission. He owns 6 rental properties with his wife Angela that net $12,500 per month. Here's where his money...

www.cnbc.com

If you watch the video in that link it tells you more details. Him & his wife bought their first house a the age of 23. He also takes home 150k a year from his job, before commission. So basically this story is about a guy in his 20's with money, that makes more money, aka a nonstory.
This article also shows how much of a miser they are & im sure no one on this site would live like them ( including you @Sion ) with that net income. They have roommates in their house & AirBnb a room(which they call house hacking). Keep in mind they own the duplex they live in and completely rent out the other half next door. They say they rent the rooms & converted garage on their half because, that way they live for free. They also share a car which is an 09 base model ford focus.

IDK if anyone on here noticed this. But theres a current trend of running stories on frugal well off millennials & its marketed to older readers as if to imply the younger generation is poor because they are lazy and not because of the current corrupt system. But anytime you really look into it, its clear these people didnt make their money by not buying a netflix subscription, not going to the movies or by buying/driving a 10 year old car. It always turns out they already had money & turned it into more money. Nobodys getting rich and retiring early by buying all their cloths from thrift shops or Walmart.

They go into more detail in this podcast

sometimes i just post, sometimes i dont look further.

i got other threads imma make that need research.

i think we gonna have to run that fade when the virus shit stabilizes.

tired of your shit