Hi, Mark it's Guys here.
So believe it or not, my younger self actually
just reacted to one of my videos where I explained
exactly how much money I spend as a millionaire.
Of course, I'm talking about the finance legend
that is Graham Stephan.
And I have to admit the similarities between us
are just crazy.
We both love talking about personal finance, side hustles,
and smashing that like button for the Ltube Ugorithm.
I'm actually subscribed to Graham,
and I watch his videos often.
However, today I want to address some of
the comments he made, as well as giving
my thoughts about them.
So let's react to Graham reacting to me.
I think we just entered the infinite monetization loop.
Hi guys, it's Mark.
So I thought it was about time.
- He should really intro this with,
"What's up, you guys?"
No, hold on, "What's up you guys?
It's Mark here."
Again, I can't do the accent, it's so bad.
- Before I can do that, we need to make a few changes.
Right, all set.
(clears throat)
What's up you guys?
It's Mark here.
When I was younger, I'd always look up to
the rich people in my neighborhood.
- Yeah, see, but just watch those people
you look up to are just completely broke.
They're drowning in debt.
They drive their Ferrari into the garage and then they get
inside and like, "Oh crap, how am I going to pay for this."
- Actually, when I was younger,
the whole buying on credit mentality
didn't seem to be as widespread.
For example, nowadays, when you go to a car dealership,
they ask you how much you can afford per month,
rather than just selling a car you can buy there and then.
The whole system is geared towards getting you trapped,
paying for depreciating assets.
When we add Instagram and other social medias
on top of this, it just makes the need to impress others
and keeping up with your friends a lot worse.
It seems like it really doesn't matter
what you actually own.
It's all just about what you can afford to show off
on social media and how many likes you can get.
Of course, I have to mention using a credit card
isn't a bad thing.
It can actually be a great thing
for building your credit score.
However, that's assuming your pay off in full
at the end of each and every month
so you don't pay any interest.
Because the US dollar is the reserve currency of the world,
for the sake of simplicity, I'm gonna be
using that in this video.
- See, look at that, he's doing us a huge favor here
because normally I have to go and convert pounds into
the US dollar and then give an estimation.
The fact that he's doing this for us,
that's why he's a millionaire.
- I'm so glad he brought that up,
because check out these comments.
I'll tell you what, I'm going to put on
my best Graham impression for this.
(speaks in deep voice)
Really annoys me how an Englishman is saying dollars, gas,
and other Americanisms.
It's our language, speak it properly,
you're not American, Mark.
Why does this fella speak about American currency?
Ain't you a brit?
Why don't you quote pounds?
It's annoying that you're pandering to the Americans.
Well I think it's finally time I address this.
A reserve currency is a
globally recognized national currency,
commonly used in international trade and global finance.
The British pound was once the world's reserve currency,
but times have changed.
And now it's the US dollar that holds that title.
My mission has always been to help as many people as
possible become wealthy by thinking
like an investor and an entrepreneur.
So it just makes sense to use the US dollar as more of
the world is familiar with it.
If I use pounds, then that only covers the UK,
and everyone else would have to convert.
So I hope this makes sense,
and it helps more people than it annoys.
I'm currently remodeling my house with a $600,000 budget,
which I'm using to build out the new North wing.
- North wing.
So your house is big when you got a wing.
Look at this, we got to zoom in.
What car is that?
It looks like a Tesla.
It looks like a wrapped Tesla in the front.
- Wow, I'm actually surprised he managed to spot
my Tesla from that sort of distance.
Getting it wrapped was part of a series I'm posting
on YouTube tour and the cost of the Tesla
back by doing lots of different side hustles.
In the last episode, we got it sponsored,
wrapped it like a race car and then raced it against a
professional racing driver.
If we managed to complete this challenge within the year,
I'll be giving away $5,000 to one of you guys.
On Monday, I had to spend $5,000 on Google shopping ads.
- Yeah, but see, he'll spend $5,000.
He'll make like $8,000 back.
So he's doing well.
I wouldn't even count that as an expense.
I would just look at the net for that.
- Yeah, he's right here.
When I'm spending money,
I always think about the ROI or in other words,
return on investment.
This is the idea that you put $1 in,
and you get $5 out, for example.
This is a great way to think,and not just for business,
it's all about looking at the value of
the things you're buying, but it doesn't have
to be all about monetary gain.
A good return can also come in the form of relaxation,
building connections, and enjoying yourself.
I learned this when I worked too hard in my early twenties
and was told by the doctor that I needed to take a break.
Otherwise I'd run myself into the ground.
I then decided to book myself a ski trip, and it was one of
the best returns on investment that I have ever had as it
allowed me to return to my businesses
with a new perspective and focus.
My shops sell model planes, helicopters, cars, and trains.
- Wow, that's neat!
This is the type of store that I would have loved as a kid.
If I were like seven to ten years old going into that store,
I would want everything.
- Well, you're welcome to come along
to one of the shops, Graham, and I'll tell you what,
I'll even do you a special deal just for you.
I'll take off the spending limit so you can go crazy
and buy whatever you want.
- Ha ha ha!
Oh, geez!
See, it's crazy when you add it up like that, but okay.
The renovation, I'd say that's the same thing
as him saying he made an investment that day.
- Yeah, I, a hundred percent agree with that.
Investing in my house is adding long-term value,
not only in the resell price,
but also improves my lifestyle.
Most of my real estate investments are
actually commercial rather than residential.
This is because cashflow is really important to me.
You might be able to get around $20,000 renting out
a single family home,
but you can spend the same amount on a bit of commercial
real estate, like an office block, for example,
and you can get close to $40,000 per year.
So, like I say in the video,
I usually have some kind of real estate expense every week.
Plus we're building out our guest quarters.
So you're more than welcome to come stay
in the North wing when you come over, Graham.
Now Marmite is loved or hated in the UK
and I think it takes my crumpets to the next level.
And yes, I know it's, ooo so very British.
- I've actually never tried that before.
It looks like a jam.
- Well, Graham, it's not exactly a jam.
It's got a bit more of a tang to it than that,
but I don't want to ruin the surprise.
I'll tell you what, let me know where you want me
to send it and you can do
a taste testing blog on the Stefamily.
On my way to the office I picked up
a $7 iced coffee frappuccino special from Starbucks.
- Whoa, look at that!
He's splurging.
Geez, you know what's crazy?
I spent an entire week eating Starbucks the other week.
I got headaches.
It was so bad.
I don't think I'm, I just lost all desire.
It just, it makes me sick to think about
eating anything Starbucks now.
It's wild how it works like that.
- Only joking, Graham. I actually just
- Oh, you got me!
This guy is like, this guy is on another level.
- I was hoping Graham would fall for that one.
As if I'd buy a fancy Starbucks when I
can have these 20 cents iced coffee.
What a lot of people don't realize is,
although this might seem tight, it is actually
the reason why most people don't end up retiring
with over a million dollars.
If you were to invest $5 every single day,
starting at 20 years old into an S&P 500 index fund,
which has historically returned an average of 10% per year.
Then by the time you're 65, you will have $1,522,000.
I think that's amazing.
All from skipping a Starbucks
and opting for a 20 cents ice coffee,
or even better, a 7 cents tea.
I feel like I'm starting a war.
After having a meeting with
the team that manages my websites,
I decided to pay them well ahead of schedule.
Now this cost me $9,722.
By paying straight away, it means that next time
I need a job completed in a short amount of time,
they'll be more inclined to get it done.
- Wow, see, that's that's smart, but you have to
really make sure you get the right people on board,
because if you pay the wrong people too much money up front,
they're gonna sit back, they're gonna take their time.
I've dealt with that with contractors sometimes.
You pay them a little bit too much money upfront
and they just never get the job done.
- Yes, I do agree with you, Graham.
This strategy only works when you've got the right people
in place that you can trust to do a good job.
A great way I found to avoid getting into
the problem of hiring people that don't get
the job done on time is never to go for
the cheapest service.
I made this mistake a few too many times in my business that
now I recognize that if I buy too cheap,
then it could end up costing me more money in the longterm.
It is a balance of course, but prioritizing quality
and good reviews has probably saved me thousands.
Me and my wife were going for fish and chips by the beach.
We shared a large Cod and Chips, which cost us $10.
- See now, look at this car in the background.
That is perfect product placement for Public.com.
- I'm glad you mentioned that, Graham.
Cause you can get your free stock worth
up to a hundred dollars if you're in
the USA and Free Trade are giving away a free
stock worth up to 200 pounds if you're in the UK.
I'll leave the links below.
We even take our own ketchup because they charge so much
for those little portions, it's crazy,
and there's no way I'm ever going to pay for those.
- Wait, what?
How does he just walk around all day carrying a huge,
like a gallon of ketchup?
Where does he put that, and does no one question
that throughout the day when he takes out
a gallon of ketchup from a trench coat and is like,
"I'm not going to pay for a, for a little packet,
I got my gallon here."
- I've always got it, Graham, doesn't everyone?
Not to mention mustard, pepper,
salt, and of course, vinegar.
But seriously, I try and invest close to 90% of what I make.
So if I can squeeze that little bit of extra cash by
just bringing my extra sauces along,
then I just can't resist it.
I've also found that usually the extras
like drinks, sauces, and desserts are where you
get the least value for your money.
So if you can substitute these, then you're much better off,
but of course, on special occasions, like an anniversary,
I'm more than happy to take my wife out for a
lovely five-star dinner.
Golf here is $945 a year so that works out
to 18 dollars and 17 cents a week.
- That's not bad at all for golf.
- Yep, I'll certainly enjoy my golf,
but it's a lot more than just a hobby as it's a great way to
connect with people and do business.
I once got invited to play golf in China at a place called
Mission Hills, which is a very, very famous golf course.
This led to me striking an exclusive business deal
around the 15th hole.
I honestly think one of the best things that the younger
generation can do is get out onto the golf course.
As the old saying goes,
you are the average of the five people that you spend
the most time with.
And golf gives you the perfect opportunity to
speak to successful people that
you wouldn't normally interact with.
In the afternoon, I went for tea
and scones with my son Curtis.
Curtis also took the time to discuss business with me.
The afternoon tea came to around 69 dollars and 45 cents.
- Yeah, see, look at that.
He, he talked business.
So then he could write off the meal.
That's smart, you always want to talk
a little bit of business.
- This is very true and I think we should put
this example on the board.
I've seen this done on Instagram.
Let's imagine as an employee,
you got paid a hundred dollars.
You get taxed immediately by 20%,
which brings you down to $80.
Your expenses are $69.
Then leaving you with only $11.
Now there's look how a business is different.
You've got the same hundred dollars.
You spend your expenses before you're taxed.
You have $31 left, which you're taxed on at 20%.
That leaves you with 24 dollars and 80 cents.
You can see why being a business is much more beneficial.
It's all about when you're taxed
and you can write things off with a side hustle.
My houses and cars are all paid off.
- Wow, see, there we go.
I was curious about his housing payments.
I wonder about property taxes though,
but either way, incredible,
- Yeah, I missed out some of that info,
it was a bit of an oversight, so here we go.
My gas and electric comes out $116 and 70 cents per week.
And my water total is $25 and 64 cents per week.
There's no property tax in the UK,
but we do have to pay council tax,
which goes towards local services.
For instance, rubbish collection,
libraries and schools.
Due to the size of my house, I have to pay
a considerable amount, which comes out at
111 dollars and 93 cents per week.
- All right, listen, I got to say, I like it.
He does everything right,
and there's, there's nothing not to like with this video.
I'm trying to think of any criticisms I have,
and I don't have any, seriously, I don't.
I don't have any criticisms whatsoever,
which is one of the few times ever in a video
I don't have anything negative to say.
- Thanks, Graham, I've always tried as hard as possible
to keep my lifestyle under control.
I really agree with the quote, "People buy things
they don't want to impress people they don't like
with money they don't even have."
- We're gonna to go to the comments and see if maybe
the comments have anything negative to say.
- This is a fun idea.
Let's check out some of the comments on his video.
The most anticipated crossover of all time.
For me, the best crossover has to be Luke Skywalker in
the Mandalorian, but this one's not bad, either.
Only joking, Graham, I just died.
This man is lethal.
Yeah, to be fair, we did put that in,
just in case Graham reacted, and it did get him.
7 cents tea versus 20 cents ice coffee.
The ultimate showdown.
Well, I've tried both,
but I'd have to go with afternoon tea.
Mmm, don't you know?
I've never seen Graham smile so much
during a reaction video.
Could this be the start of a beautiful bromance?
- The comments are just as nice as Mark is.
So jaw about this Mark, if you're ever gonna be
in Las Vegas, if you want to come down
and come and meet us on the iced coffee hour,
let us know.
We would love to talk to you.
I think you'd be a great person to have on.
- Podcast invitation accepted.
I've just got to figure out how I can fit the cost of
the flight into my weekly budget.
Oh, wait.
It's a tax write off, ha ha!
I'll bring some crumpets with me and Marmite, too.
So with that said, you guys,
I'm gonna leave the next video right up there,
but don't click on it just yet.
Make sure to subscribe if you want to grow your wealth,
and don't forget to pick up those free stocks.
Okay, I'll see ya over there.