welcome back to coffee time and today as
an ex-googler X Facebook tech lead
multi-millionaire I wanted to tell you
about how I spend my millions of dollars
because quite frankly I'm tired of
people telling me that I'm some cheap
bastard how I got my ex wife only a $30
birthday gift how I'm not going out to
eat how I seem to be wearing the same
clothes every single day and I wanted to
just set things straight and prove to
you once and for all how extravagant and
luxurious a lifestyle I'm actually
living by showing you my expenses from
last month and you'll be able to see
exactly what I'm spending my money on
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all right so let's dive right in here so
if you're right in personal capital is
this app I used to track my income net
worth and expenses you guys can check it
out if you want to and you get a free
$20 if you want to use my link but I
find it to be a great app for budgeting
because I can connect all of my credit
cards and bank accounts brokerage
accounts and see exactly where my money
is going and coming in from so here
we're taking a look at my expenses from
last month September of 2019 you can see
it that I've blown through about $19,000
worth of expenses I'll show you exactly
how I'm spending this much and it's a
lot isn't it I told you I'm not cheap
here so first up we have rent coming in
at four thousand four hundred dollars
this apartment actually costs about four
thousand dollars and then the other four
hundred probably from utilities water
gas internet electricity and yeah it's
expensive but I'm rich but overall cost
of living in Silicon Valley is quite
high I would say most normal people are
spending probably two thousand to three
thousand dollars I'm just locked into
this lease and I'm going to get out of
this place as soon as I can
now as an aside this actually brings up
an interesting point which is that many
people in Silicon Valley they may be
having this high salary but people can't
even seem to afford shelter because cost
of living is so high a lot of people end
up living with roommates they may not if
I have a good school district for their
kids everyone's trying to save up for
some down payment for a house and houses
in this area it's going to run you one
point five to two million or more and if
you want a good house in the good School
District will probably run you like two
million dollars and then you may have to
rent out portions of the house if you
want to bring back some of that income
it's just very expensive overall so
there's this era of poverty where
everyone's trying to save money because
they're essentially homeless because the
differences in cost between your daily
expenses and then your housing is just
so out of balance now moving on if we
take a look at my next category here
online expenses $7,700 what does this is
pretty much advertising you can see I'm
buying ads on reddit Facebook Google I
spend some money on LegalZoom so these
are all business expenses and I don't
cheap out on this stuff number one
because I expect a return on investment
and number two they're tax deductible
anyways the funny thing about running in
business is that it gives you a place to
throw your money into so for example if
you get a thousand dollar bonus from
work well sure you could take that and
blow it on the nice lavish dinner for
yourself or you could take it and invest
it in your business and maybe in a few
months you can double that money so
almost always there's a little bit of a
sense of guilt if I'm spending money on
something that's not business-related
because I know that it can be used for
better purposes now for you back out
here and take a look at my other
expenses
business miscellaneous that was about
three thousand dollars this is
essentially my web server hosting so at
least a web server and the database
server for the websites I run my coding
projects this stuff normally costs a
thousand dollars by just prepaid three
months in advance to me some credit card
spending requirements just to get some
points those are always fun in the next
category we have travel which comes in
at 1400 this is essentially the Los
Angeles trip that I did last month I
stayed in Los Angeles for about a week
and you can see my expenses here it was
on Hilton super 8 American Airlines uber
Residence Inn Hilton Marriott
so it was about $200 a day there and
then if we see these other miscellaneous
categories $300 on general merchandise
probably some stuff on Amazon
restaurants was $300 which is probably
about $20.00 every other day or so so
yeah I don't eat out all that often I
just personally don't have the patience
to sit through a white tablecloth seven
course meal with soup salad two entrees
and three desserts especially dining
alone that's just boring speaking of
which check me out over on tinder for
entertainment I spend only 192 which is
probably pretty low I could probably
bring that up into several thousand you
know I have a few ideas by
get demonetised but essentially I just
spent that on Disneyland $144 there and
then I spent $160 on gas 90 dollars on
medical 60 dollars on groceries and then
just some random other stuff so that
does it for the spending now I know what
you're thinking aside from the business
expenses it doesn't seem like I'm
spending all that much actually which
you're only partially right on now it's
true that because I'm running this
YouTube show MSI businesses I've
essentially created another set of
golden handcuffs for myself
so I don't have as much time to go out
and spend money because I'm still really
busy surprisingly even without the job
but the other thing is I'm buying
something that is not really visible
it's not tangible it's freedom one thing
you cannot buy is freedom freedom can
only be earned you have to save up your
money accumulated and the more money you
have the more freedom you have it gives
you the power to walk away from jobs to
not take on work that you don't want to
do to be able to take a vacation and
travel whenever you feel like it when I
was fired from Facebook earlier this
year most normal people would probably
be completely devastated and ashamed and
for myself though because I had saved
throughout the years I did not feel much
about it I felt nothing
early retirement that's another one you
can't buy the ability to go live in any
other country that you want right
normally when you go to another country
on a tourist visa you're prohibited from
working so if you're able to have saved
up enough to support yourself then that
would just let you experience multiple
different cultures the ability to sit
back relax not really have to worry
about living paycheck-to-paycheck
and this freedom it is incredibly
expensive it's so expensive that I think
most people don't even think about it
most people don't even imagine being
able to buy something like that and so
in my perspective people just go and
burn their money throw the way because
they're not trying to reach that goal
anyway the true cost of freedom is
amortized over your entire lifetime say
50 years and there's all of the expenses
throughout that time the cost runs into
the millions
so it's silly when I see young people
they get impressed by cheap luxuries
Louis Vuitton handbags Rolex watches a
fancy dinner but it really just depends
on what you want to spend your money on
you could get a whole bunch of trinkets
and baubles and fancy foods but then you
may not be able to afford your own
freedom or you can go get that freedom
but then you may not be able to sustain
a lifestyle of Porsches BMWs Infiniti
cars Rolex watches because that standard
of living is just not sustainable
your freedom has a price and it is
expensive but it's essentially what I'm
trying to purchase these days now what
do I think is worth spending money on
countless studies have shown that
happiness is people it's being social
with other people so in my opinion
spending money on experiences with
friends family I think that's almost
always going to be worthwhile I will not
hesitate to spend money on travel
experiences amusement parks museums
shows tours with other people because I
think you're creating memories and to me
some of these memories with friends and
family there's some of the most
treasured memories that I have and I'd
like to go back and think about them
sometimes relive those take a look at
photos and pictures talk to my friends
and family about those good ol times
experiences I think are one of the most
direct ways that you can translate
monetary value into living whereas if
you take a look at material items
usually what happens with that is your
plainest add this game where as soon as
you get one item you're gonna want the
next item on the ladder so maybe you get
a Jaguar then you want a Porsche then
you want Ferrari and a Lamborghini and
it just keeps going up and so then
you're never quite happy and also when
you start attaining some wealth you
don't really feel that you need to prove
anything to anybody anymore another
thing I've been thinking about that may
be worth spending on are items that can
preserve wealth for example Antiques
paintings collectible cards and coins
you can enjoy those things without
having to actually lose money because
you can always resell those and of
course real estate houses I think those
are also good ways to enjoy money
without necessarily losing it so I hope
you can see that the general mindset I
have is not about consumers and
materialism buying things being
brainwashed by other TV media and
advertising to go buy some useless
product or brand it's really about
number one business expenses and me
producing things using the money to make
more money and that is quite interesting
and fun for me to do and then the other
thing is just using that money to gain
some flexibility and freedom to go
travel and experience life because one
of the best things you can do with money
is to go out and live your
and make your life not just good but
great when you're buying things that TV
commercials tell you to buy plain to
social status game trying to one-up your
neighbor you're not really moving
forward in terms of your life you're
just living within that social system
it's really about enabling me to live
life on my own terms the way I want to
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but overall I might encourage you to
think about using money to buy something
that can truly be life-changing so
they'll do for me let me know what you
think is worth spending money on if you
liked the video give a like and
subscribe I'll see you next time thanks
bye