All posts by Greenbacks Magnet

I grew up in the Washington DC metropolitan area and have been working in the financial services and lending industry for over a decade. I earned a bachelor's degree in psychology and master's degree in distance education from the University of Maryland University College.
College, Financial Freedom, Financial Independence, Investing, Real Estate, Wealth

Money advice 10 Personal Finance Bloggers told me

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“Um, Anya, while I completely trust you to take care of the inventory and the money, um, dealing with people requires a certain… finesse.” – Giles, Buffy the Vampire Slayer

Yes, indeed. Say it with me, finesse. PEOPLE. REQUIRE. FINESSE.

I cannot tell you how many times I have done business with people and their attitude caused me to cancel my transaction. All I ask for is a little kindness. Being nice can go a long way.

If you are passionate about what you do, then you are generally more pleasurable as well.

People will forget the things you say or do, but they never forget the way you make them feel. I learned that from Maya Angelou. And it is so true.

Today, I want to share with you some advice from my peers. Money Bloggers.

I won’t talk your head off. Let’s dig right in.

1. MONEY IS POWER 

https://twitter.com/ApathyEnds/status/1060532542523215872

You better believe it. I read every contract. Cross every T. And dot every I.  The reason I have an Emergency Fund is for my peace of mind. It means no matter how much the government changes the laws, your job sucks, the lack of integrity around you, or people’s scruples, you are protected.

Here are some of my posts on the importance of emergency funds and having money in the bank.

How I went from $5k to a six figure 401(k) in 6 years  

How not to be house rich, cash poor 

3 Money Lessons from Til Debt Do Us Part 

How to get access to a $250,000 emergency fund with $0 of your own money

How to build an emergency fund 

2. LOOKS GOOD ON PAPER, BUT YOU NEED SIMPLICITY 

I say to people all the time to keep it simple. I use the KISS method. Keep it simple stupid.

In my experience, complexity leads to disaster. You need something you can understand and do without always needing the help of a professional.

I used advice from Warren Buffet and kept it simple.

How I used the Buffet 25 strategy to walk the talk

You don’t need money in 8 banks, 20 credit cards, and 3 homes if you can’t find a way to manage it. Simplify it. Hire a financial advisor and property manager. Or just decrease the amount of banks and credit cards you use, homes you own, and stuff you have.

No matter what, simple is best. KEEP IT SIMPLE!

3. YOU DON’T HAVE TO SPLURGE ON EVERYTHING

Absolutely, you don’t. I read a book years ago on health and fitness called Beyond Diet. She stated instead of buying all organic just get a few main items such as milk to keep your budget in check.

I have always spent my money on the things that mattered most. Namely, my health, education, a good pair of shoes, a good coat, and reliable transportation.

See more on saving and buying what really matters.

Money Lessons I Learned from Jay Leno 

Health really does equal wealth 

4. GET RID OF UNNECESSARY BULL$*IT 

Growing up, my father always said get rid of anything you don’t need.

To this day, I trash, donate, or sell anything I don’t need.

I try to live a minimalist life because I don’t want to have to buy a bigger home or storage locker just to house more STUFF!

Have you ever noticed its easier to buy stuff than it is to sell it?

Less stuff, more wealth. People matter more than things.

Less Home, More Wealth 

Money and Relationships…3, 2, 1

5. TEACH THE KIDS ABOUT MONEY AND THEY MAY BE ALRIGHT 

I take every chance I get to educate someone about money. I bought the Automatic Millionaire for my best friend years ago, so she could get better acquainted with Mr. Benjamin, cause it’s all about those Benjamin’s.

If you don’t teach your kids about money, they will grow up not knowing how to earn and manage it.

If your not sure where to start, check out my post on Scrooge McDuck. It’s kid friendly.

Money Lessons I Learned from Scrooge McDuck 

Introducing the $100,000 bottle of water 

6. START A MONEY DIARY 

https://twitter.com/TheFrugalGene/status/955032100817825792

You think you know where your money’s going, but you have no idea.

Well, welcome to the club. Most people have no idea where their money went.

I suggest you start tracking it right now. Yes, stop reading this post and go track your net worth right now!

You can only do better when you know better.

7. A CAR IS NOT AN INVESTMENT 

Don’t even get me started on cars. Like money, it is just a tool.

I paid off my car about a decade ago. Here is a screen shot of my $0 balance. I paid off that car and out that money to work for me. Forget cars! You do not need an expensive car.

It is a huge budget buster.

Just read any one of my gazillion posts on them.

A car and nothing more 

Life is good, without a car payment 

8.  GET AN EDUCATION 

I don’t care if you simply read books by rocket scientists, or you go to Yale like Rory, I just need you to get a good education.

Read my post on investing in yourself.

Forget casinos, bet on yourself

9. ASK FOR WHAT YOU WANT 

Ah yes, they say ask and you shall receive. However, you still have to ask and do the work. Nothing is for free.

The sorted topic of coin is a tricky one. Money is emotional. But side hustles can get you more money, so I say why not try to EARN money by doing something you are good at and do for free already.  Just a thought.

You want a million dollars? Ask for it

How being an outlier can make you rich 

10. FIRE’D UP, BEING GRATEFUL AND HELPING OTHERS

If you have been reading any number of personal finance bloggers, then you will inevitable come across FIRE (financial independence, retire early).

Fore more on this topic, you can check out a ton of FIRE bloggers such as Root of Good, Early Retirement Extreme, Go Curry Cracker, just to name a few and there are so many more.

You can even read this post by me, Greenbacks Magnet called How do you play with FIRE?

YOU HAVE MY PERMISSION TO PLAY WITH FIRE

How do you FIRE? Basically, you work your butt off when you’re young, live on like 50% or less of your income and save and invest the rest. You have a better chance of achieving this if you can save and invest 50-70% of your income.

From what I have read, most aspire to FIRE with 25 times their income. Could be anywhere from $500,000 to $2.5 million. Then live off the interest.

 However, whether or not you FIRE, you can help others. It can be done with money or time. Either way, with financial independence comes the ability to choose what you do, as you become the master of your time when you no longer have to punch a clock.

When is it time to leave your job and FIRE?

Ask yourself: Would you do this job for free?

You want to be able to do your passion right? Then, you have to make some changes. Leave the grind of the 9-to-5. Get out of the proverbial rat race. It all starts with what you earn and what you spend.

Financial freedom allows you to spend more time doing the things you want. You can spend more time with family, take more vacations, serve in the peace corps, help build homes for habitat for humanity, and the list goes on.

See my post Generosity can go a long way 

Well, there you have it.

Hope you enjoyed this post, as much as I enjoyed writing it. It was nice to remember some of the things I’ve learned along the way on my own journey to wealth.

Good luck!

Careers, Celebrities and Money, Relationships, Self-Made Millionaires, Wealth

Oprah’s 5 lessons for a great life

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Passion is energy. Feel the power that comes from focusing on what excites you. – Oprah Winfrey

I fully agree with that statement. I learned from Richard Branson, the founder of Virgin, to do what excites me. So, every post I write is a topic that I am excited about.

I write what’s brewing around in my head, what is burning in my soul, and straight from my heart.

Sometimes, I think of that scene in Spider-man Homecoming when Tony Stark (Iron Man played by Robert Downey Jr. aka RDJ) meets Peter Parker (played by Tom Holland).

You can check out that scene here.

He says this to him:

Tony Stark: Why are you doing this, huh? What’s your MO? I’ve got to know, what gets you out of that twin bed every morning?

I ask myself that question. What  gets me out of bed every morning and gets me going? If it doesn’t excite me, then I’m not going to do it. And that is exactly how I feel about writing for this blog.

This blog will be very lively and spirited. That’s me. Full of energy.

GET EXCITED

I don’t plan to bore you. I want to be the place you go to wake up to. Like a radio station. I want people to come here to learn new things, get inspired, and when they leave to feel good.

I also try to only do what excites me in my personal life as well. There’s no fear of missing out for me. If it’s meant to be, it’ll happen. If not, move one. There’s always another rainbow, opportunity, or chance for adventure somewhere. I say, onward and upwards.

Obviously, Oprah needs no introduction. You know the face and you know the name.

She has won multiple Daytime Emmy’s, been nominated for an Oscar, and is regularly asked to attend and speak at major events all over the world.

Well, Oprah once did the commencement address at Wellesley in 1997. In her address, she discusses 5 important lessons she has learned for a better life.

Here are  the 5 quotes from Ms. Oprah Winfrey that have inspired me and I hope they do the same for you.

OPRAH ON LIFE

My mission in life is not merely to survive, but to thrive; and to do so with some passion, some compassion, some humor, and some style. –  Maya Angelou 

  1. Life is a journey. Every day experiences will teach you who you really are.

I remember reading a book and a man commented that he witnessed someone being mistreated. When he asked the man why he didn’t say mean things back to those who were saying awful things to him, he responded, “You cannot fight hate with anger. You can only show people who you are by how you live your life.”

Indeed.

See my post on how to thrive by working harder than others that I learned from Jay Leno

Money Lessons I learned from Jay Leno

OPRAH ON PEOPLE

When someone shows you who they are, believe them the first time. – Maya Angelou

2. When people show you who they are, believe them the first time. This is especially helpful with men. Don’t force them to beat you over the head with the message.

I have definitely learned this lesson.

In this life, if you want to not only survive and thrive, then you must learn to weed out the good from the bad apples quick!

Check out my post on what can happen to people that learn to value things more than people.

Money and Relationships…3, 2, 1

OPRAH ON WISDOM

A loving heart is the truest wisdom. – Charles Dickens

3. Turn your wounds into wisdom. Everyone makes mistakes. They are just God’s way of telling you you’re moving in the wrong direction.

If you ever saw that movie Sky High, his mom told him the following:

OPRAH ON BEING GRATEFUL

Let us be grateful to people who make us happy, they are the charming gardeners who make our souls blossom. – Marcel Proust

4. Be grateful. Keep a daily journal of the things you are grateful for. It will keep you focused on the abundance in your life.

It most certainly helps to think about all you do have, instead of what you don’t.

OPRAH ON HAVING VISION

Gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow.  – Melody Beattie

5. Create the highest, grandest vision possible for your life because you become what you believe.

We have to teach our girls that they can reach as high as humanly possible. – Beyonce

I remember reading that Bella Thorne creates a vision board for herself every year. Say what you want about her, but she is a hard working woman. You know why? It’s because she has a vision.

Arnold Schwarzenegger does something similar. Read all about it below. Very motivational.

How Arnold Schwarzenegger Totally Recalls making $20 million-dollar paychecks

If you want something in this life, you better be prepared to work for it. Nothing is free. Rarely is anyone ever handed anything in life. And even if you are, do you know what to do with it? Or how to manage it? It’s a lot harder to stay on top, when you haven’t done any of the work it takes to get there in the first place.

It wasn’t until I decided that I would be rich, that I started earning and attracting more money.

I learned that it all starts with the mind. Change your thoughts, change your life.

Budgeting, Celebrities and Money, Real Estate, Saving, Wealth

Less Home, More Wealth

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You’ve got to work to succeed. – Owner of a Lonely Heart Song and Lyrics by Yes

If you crisscross the country, you will see home prices are highly inflated. Homes values have gone up, but so too have prices.

I look to my left and to my right, but I don’t really see any new starter homes being built.

How is a family just starting out supposed to find affordable housing without any affordable homes?

You need to keep your fixed expenses low, so that you can keep more of your money in your pocket.

Remember the future is more expensive. Things do not go down in price. Prices go up.

I urge you to reconsider purchasing anything that will mean paying a high fixed amount over a long period of time such as a mortgage.

High fixed expenses can cause folks to go bankrupt.

If you do an online search, you can lookup bankrupt celebrities and see my point.

When going through their financial records and bank statements you see the glaring red flags right off the bat.

Here is a typical list of items I see when high profile people file for bankruptcy:

  • The newest or latest Range Rover
  • Large wardrobes and expensive designer suits or furniture
  • Huge credit card bills
  • Expensive foreign car leases
  • Tax liens
  • Medical debt
  • Back mortgage payments
  • Multiple child support or alimony payments
  • Back taxes owed to Uncle Sam

There is one-line item I would like to pull out in particular and that is the mortgage payment.

Let’s say hypothetically speaking, one was to bring in $70,000 a year, but was once pulling in $520,000. That’s a pretty huge drop in income right there. Would signify some belt tightening needs to be done right?

Nope.

Instead folks were continuing to live in the same neighborhood and even in the same house. In addition, driving fancy cars, and pretty much were living as if there had been no drop in income.

That is no way to do your finances.

You have to respect money. You cannot spend before you earn. As the song goes in the lyrics stated above, you’ve got to work to succeed.

You can’t continue to have the trappings of success, if you truly can’t afford them.

So, let’s discuss buying less home in order to be wealthier.

HOME PRICES ARE THROUGH THE ROOF

According to Zillow.com, the median home price in Washington DC is $575, 800.

If you have a 5% interest rate and a 30-year mortgage, that means you will owe $3,091 a month. And that’s just for the bricks! You have not paid property taxes, closing costs, home warranty, or utilities.

Adding in homeowner’s insurance and property tax, you are looking at $3,419 a month.

The Mortgage affordability rule states you should spend no more than 36 percent of your gross income on all your total debt, and this includes mortgages.

Based on the numbers, to purchase a home at this price point, you would need to bring in over $12k a month. That’s $150k a year. And this amount includes no down payment no debt except a mortgage.

Who doesn’t have a car payment these days? However, make anything less than that and its sorry game over.

Let’s not forget that this is for a property in Washington DC. There are tons of other metropolitan areas where to pay to play is even more egregious.

What a home in swanky parts of New York, California, Connecticut, Florida, Colorado, or Texas? Well, it’ll cost you.

Homes in gated communities can be well into the seven figure range.

If we take three times $575,800, that gives us $1,727,400. A $1.7M home will cost you approximately $10k per month, which is $120k a year and $10k of that goes just to property taxes.

In a decade you would have paid $120k for property taxes, just for you to sit on your couch in your living room .

That means a $3.5M home would cost the homeowner $250k over 10 years.

That’s right. A quarter of a mil. Just because the house is standing.

PROPERTY TAXES ARE FOREVER

Oh and by the way, did I mention that property taxes are forever?

You don’t ever stop paying it.

That means you will always have some cost associated with owning a home, even if everything inside of it and the dwelling itself is paid for.

Wishing you could buy a manse like Hova and Beyoncé. Well, be prepared to shell out big bucks cause the property bill alone is massive.

It was reported they bought an $88M mansion in California. A pricey piece of property indeed. A ritzy neighborhood for sure and a jaw-dropping beauty of a home.

In sunny California, the property tax rate is composed of three types of levies: general tax levy, voter approved bond indebtedness repayment, and special district assessments. The general tax levy was frozen by Proposition 13 at 1 percent of assessed property value.

According to Joel Fox of The Sacramento Bee, “Taxes haven’t exactly disappeared under Proposition 13. Property tax revenue is up 1,000% since 1978 and is growing faster than personal income. However, individual taxpayers are protected by Prop. 13, locking in property taxes when they buy their home and limiting future increases.

So, let’s get down to the bottom-line. Property taxes on an $88 million-dollar home at 1% is $880,000 dollars! That is for one year. I shudder to think about the cost of upkeep.

Although, this is obviously not what the average American homeowner is paying in property taxes, it does illustrate that paying these taxes can be mighty expensive. Especially, if you are living on a fixed income, which many Americans one day likely will be.

HOW MUCH CAN YOU SAVE

What can you do instead of buying a huge property?

Glad you asked.

You can buy less home and save money.

This will effectively allow you to increase the amount of money you save.

For example, just buying a property that is $100,000 cheaper could allow you to save $584 a month in mortgage payments and property taxes.

Investing that $584 over 30 years at an 8% rate of return could net you $877,423.

You would be giving up close to $900k in wealth to live in a neighborhood that ends in the name of Hills instead of Heights.

Basically, you could save a small fortune.

HOW MUCH GREENBACKS MAGNET SAVES

I decided to buy a smaller home than most friends and family members I know.

In one case, I paid $500k less than my peers or their families. In another, I paid less than $700k!

Just figured less home would mean less to do for maintenance, lower utilities, and more freedom because less time is needed to manage my household.

I was right.

It is way less stress to care for a smaller versus a larger home.

You have less stuff because you have less space.

Either you throw out and donate crap or get creative in storing it. I prefer to come up with less storage solutions and just stop buying stuff.

It has paid off handsomely.

I gave my savings amount in a post I did called How Millennial Money inspired me to save $13,333.06 a year. Well, now I’m giving you the visuals. I highlighted in red what I’m saving now.

GBM savings growth chart 

After, I started ramping up my savings it just took off. I am on track to save 1,000% more income than I did in 2015. Not too shabby.

I say buy less home, build more wealth.

Financial Freedom, Financial Independence, Investing, Retirement, Saving, Wealth

Do you want a million dollars? Ask for it!

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Life is a negotiation – Louisa May Alcott

Growing your net worth from $0 to $1 million takes time. First, you have to ask for what you want. It starts at the negotiation table.

The sorted topic of coin. Everybody needs it, but those that really want it ask for it.

Ask for what you want. Anything at all. That includes money.

It may not be easy, but you have to negotiate.

It is the only way to get the best deal for you.

You know your worth, so don’t accept anything less.

Speak up to be heard.

Always be reaching. Never settle.

SPEAK UP

A lot of people are afraid to say what they want. That’s why they don’t get what they want. – Madonna

Remember that piano scene in Sex and the City where the piano player kept saying, “one more time for the cheap seats in the back.”

Well, that is real advice.

No one can hear you if you whisper. You have to shout. If you do not speak up on your own behalf, no one will.

Believe me, prince charming or princess darling isn’t coming.

It’s like that part in The Lord of the Rings where Gandalf shouts, “fight for your lives.”

I say that to myself all the time. Do it like your life depends on it. Whatever it is, make it count. Finish strong.

Like that voice in Mortal Kombat used to say, “fight hard.”

Either that or die trying.

BE FEROCIOUS AND FEARLESS

Better to live one year as a tiger, then a hundred as sheep. – Madonna

I can’t tell you how many times I’ve been called a rebel.

For standing up for myself. For voicing my opinion. The list goes on and on.

I think back on that scene in Troy. To fight back.

To fight back when people attack me? Dog has that kind of courage.

If you want something, then you better be willing to go to bat for it.

I have asked or negotiated for better pay, grades, food, clothing, a deal on a house, fees, and interest rates.

I’m a lioness. I’m like Miley Cyrus says, “I can’t be tamed.”

I like to go for the gold, but I’m not ashamed to get silver or bronze.

Now when people say no, I only hear yes to my dreams.

WHATEVER DOESN’T KILL YOU

I stand for freedom of expression, doing what you believe in, and going after your dreams. – Madonna

Whatever doesn't kill you makes you stronger.

You know the saying…only makes you stronger. Well, it’s true.

I will never forget those hard times being picked on as a kid.

I heard Jillian Michaels say she was bullied and teased relentlessly until she started taking martial arts. She says then the bullying stopped real quick.

I just focused on my studies. And my dreams. Just ignored everyone and everything. I was laser-focused.

I maintained good grades, a well-kept appearance, good manners, strong work ethic and a no nonsense attitude. The teasing stopped real quick.

It truly has paid off. As I have done the following:

  • Completed my education
  • Paid off debt
  • Learned how to invest and build wealth
  • Traveled more
  • Maintain my health
  • Took martial arts
  • Became a writer by starting a blog

I just did what I believed in.  And I believed in myself. I just trusted my instincts. I picked a path and didn’t look back.

Things may not have always worked out the way I wanted, but I was never standing still. The needle of my life was always moving forward.

BE THE ARCHITECT OF YOUR LIFE

Don’t you ever let a soul in the world tell you that you can’t be exactly who you are. – Lady Gaga

What do you want?

Be specific.

I’ll give you an example.

I plan to have enough money to retire in 13 years.

Be more specific. No problem.

By May 5, 2031, I plan to have enough money in savings and investments to retire from full-time work forever.

And that is not a wish, but a goal. This is real.

I am planning for that date. Right now.

Will I retire? I don’t know. However, I still plan to have the option to do so.

Scrooge McDuck said no man is poor who can do what he wants every once in a while.

Madonna said, “Poor is the man whose pleasures depend on the permission of another.”

Warrant Buffet decided at age 10, after going on a trip to the NYSE, this planted the idea in his young head to organize his life around money.

You are the person in charge of your destiny. Never forget it.

PENNIES OR DOLLARS

The mind is the greatest weapon. – Rambo

Oh, it is. If you have ever seen an episode of MacGyver or been in a tight situation and talked yourself out of it, there’s your proof right there.

I have noticed that math and science are great skills for analytical thinking. Great subjects to study in school or to use to prepare for a career.

In the 2004 film Ray, Jamie Foxx plays Ray Charles and is told the way to get a better deal is to ask for one.

Don’t be afraid to ask for more.

My mother taught me that.

She says all people can do is say yes or no.

In the movie, the man says to Ray you think pennies you get pennies, you think dollars you get dollars.

That was just by changing your mindset.

When I think now, I always think in millions.

For instance, it will take approximately 20-30 years to build a million-dollar investment portfolio depending on how much you save and the interest rate. Investing $10k a year at a 8% interest rate will net you $1,000,000 within 28.55 years.

You just have to decide.

Do you want thousands or millions? You think millions, then you get millions.

If you ask for it and are turned down, then use your mind to find a way to create this reality.

Legally, of course.

Celebrities and Money, Retirement, Saving, Wealth

Introducing the $100,000 bottle of water

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This $100,000 bottle of water costs as much as a house in some parts of the country. Heck, even the world!

Thirsty? Well, this bottle of H20 will only cost you $100 grand. You heard me. $100k! Yes, that’s USD.

That’s the most expensive sip of water I have ever heard.

What if I accidentally spill it? Oh, to perish the thought!

I was sure it was a joke. Like how Jokey the Smurf brings you a present and then you find out it’s a gag gift. You know, something like that.

I can’t even fathom parting with that much cash for something you could get for free out the tap at home or at any restaurant.

Who are the marketing geniuses who thought of this? Who is the target market? What are the demographics?

Who in their right mind would pay $100k for some water?!!

WHO WILL BUY $100K BOTTLE OF AQUA?

Fine. I’ll bite. Who are they?

I guess you could say this water is targeted at a high-end clientele. Those that have pockets so deep, that smacking down that type of scratch is no problem, as all they have to do is whip out their Centurion Black Card. Swipe, sign, and done.

The company actually got rapper 2 Chainz and DJ Diplo to taste the water. They have both sold millions of albums. So, sure you could market to them. Market to the affluent is a must at this price point.

If you don’t have to bat an eyelash at this type of transaction, then good for you.

The rest of us reasonable mere mortals are not buying it. Where did this water come from?  Is it magic water from the fountain of youth? Will it heal all maladies or whatever ailments you have. Basically, will it cure what ails you and eliminate the need for the ever increasing cost of healthcare?

Could I rub it and make 3 wishes?

Like in the show Gargoyles, this isn’t Aladdin’s lamp. All things have their limitations. Even the character called Puck agrees with me. Check it out 30 seconds in.

Water can quench your thirst, clean you, keep you healthy and alive, and that’s about it.

MAKERS OF THE MOST EXPENSIVE BOTTLE OF WATER IN THE WORLD

The company is called Beverly Water. They are located in Beverly Hills, California.  The water is called Beverly Hills 90H20. It is crafted spring water from the California Mountains.

Coined “The Most Expensive Bottle of Water in the World,” is clearly meant to entice people with deep pockets that this is a must have item.

Here is the description that I posted on their website:

Description

“The Most Expensive Bottle of Water in the World”

Limited to only nine bottles in the world, the Diamond Edition of the Luxury Collection of Beverly Hills 9OH2O is the ultimate in water.  Designed by Jeweler to the Stars Mario Padilla, each exquisite bottle features a white gold cap set with over 600 G/VS white diamonds and over 250 black diamonds, totaling 14 carats.  Each bottle comes in a custom secured presentation case together with four engraved Baccarat crystal tumblers, and it is presented in person by renowned water sommelier Martin Riese at a private water tasting anywhere in the world.  In addition, the Diamond Collection package includes a one year supply of the Lifestyle Collection of Beverly Hills 9OH2O.

THE MOST EXPENSIVEST SH*T

There is a video posted of 2 Chainz and Diplo getting a tasting of the water from a, get this, water sommelier. It turned out as expected. Neither care to buy $100k bottle of water. Why you ask? It’s simple. It’s just water!

After, introducing the water to the two gentlemen, which is housed in a massive case, you get the feeling something is seriously off here.

Then comes reality.

THE $100,000 DOLLAR QUESTION

2 Chainz asked what everybody wants to know, “What are you paying $100,000 for?”

The white-gloved sommelier then points at the bottle cap.

You are not really paying for the water, but what the water comes in and with.

Which is a 14 real diamonds, 600 white ones, 250 black diamonds, and white gold.

For this diamond luxury experience, you’re getting the case, and 4 diamond baccarat glasses.

After I stopped laughing hysterically, I started reading the comments on the video.

The hands-down and absolute funniest part after watching the video is reading the comments section.

MY SENTIMENTS EXACTLY

Here are just some of the comments I saw that popped out at me.

Imagine how disappointed you were if you paid $100k for this bottle thinking its vodka

MBA lesson right here

If you can convince someone to buy a bottle of water for $100k. You deserve that $100k.

I will put some tap water in a bottle and sell it for 500k!

Marketing and BS.

Ima stick with my Aquafina😂😂😂

I’m no mathematician, but that’s more than 2 chains.

For those who didnt catch it, you are not paying 100k for the water. You pay 100k for the Diamonds and the gold on the Cap.

The glasses the diamonds and the case cost 99,999 and the water 1$

0$ water … 100k bottle cap

Man, that water better have the power to cure all diseases for that kind of price. 100K seriously???

I better become a mermaid after taking a sip for 100k

100k for a bottle of water? That sh*t better bring Jesus and 2pac back.

Meanwhile in Flint, Michigan…

This water better come from the fountain of youth.

Bottle of air 2billion dollars

One person put my exact thoughts, as I described above, into an elegant rebuke of buying water this freaking expensive.

MadeInVolantis 2 years ago

For 100k that water better turn me 18 again. For 100k that water better cure my thirst forever. For 100k that water better wash me of my sins. For 100k that water better make me a million dollars back somehow.

Well said.

Basically, it’s a $100k jewel-encrusted capped bottle with water inside.

Let’s think about this for a second. What could you do with one hundred thousand dollars? I’m about to tell you.

YOU COULD DO BETTER THAN BUY A DIAMOND CAPPED BOTTLE OF WATER

You could do all types of things with that kind of money. These are just some suggestions.

WHAT YOU COULD DO WITH $100,000

  • Start a college fund for underprivileged kids
  • Put every dime in the market and get historical ROI average of 7%; be a millionaire in 30 years (there goes that million bucks the commenter above was talking about)
  • Start a business
  • Donate $1,000 to 100 charities
  • Donate $10,000 to 10 charities

WHAT WOULD BE FUN TO DO WITH $100,000

  • Rent out a blimp over your old college campus, get $100,000 worth of ones and make it rain
  • Go to Vegas, rent out the Penthouse of an expensive hotel , and bet 10,000 on black
  • Get on a plane to Dubai, UAE, fly first class on the Emirates and visit every attraction
  • Visit Rome, Paris, China, London, and Australia just to get a keychain
  • Get back stage and front row passes to see your favorite artist in concert
  • Enter a professional poker tournament with a $10,000 buy-in
  • Walk up to anyone of the people collecting for the salvation army and give them a check for $25,000 (kind of like that scene in the movie Ghost)

Great scene. You will love it. No need to thank me for uploading it here.

If you have never seen the movie, then I highly recommend it.

WHAT YOU SHOULD DO WITH $100,000

  • Donate 10% to charity
  • Put a down payment on a piece of property
  • Pay off all or a large portion of your debt
  • Invest in the stock market like the S&P 500 index
  • Pay cash for college
  • Buy a car outright
  • Invest in your health

If you want to impress people, just show up to their events on-time and don’t complain.

And if you just so happen to get thirsty, stick with VOSS, Evian, or Deer Park. Can’t go wrong.

That’s just my $0.02, er ehh, I mean $100k money saving tip of the week.

Celebrities and Money, Credit Cards, Financial Freedom, Financial Independence, Saving, Self-Made Millionaires, Wealth

Money advice I got from John Legend

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“It’s not wrong to be afraid.” John Legend

John Legend is a Grammy and Oscar Award winning musician. The singer-songwriter won his first Grammy Award with 2004’s Get Lifted. The album went platinum, thanks in large part to his hit single “Ordinary People.”

He was a child piano prodigy. He skipped two grades and graduated from high school at 16.

Legend stated he was offered admission into Harvard University and scholarships to Georgetown University and Morehouse College. Ultimately, he chose to go to the University of Pennsylvania, where he studied English with an emphasis on African American literature.

He sang in the church choir (which he joined at 7 and was leading it by 11), was head of the music department in his church, served as a music director in college and also worked as a wedding singer.

He has done numerous interviews in his career and much of the information in this post comes from them. I discuss multiple ones in this post.

John has an estimated net worth of $40 million dollars.

He did an interview with Katherine Schwarzenegger for her 2014 book I Just Graduated… Now What?: Honest Answers from Those Who Have Been There. You may recognize the last name. Yes, she is the daughter of Arnold Schwarzenegger and Maria Shriver (Kennedy).

For more information on her famous father, you can read my post How Arnold Schwarzenegger Totally Recalls making $20 million-dollar paychecks.

How Arnold Schwarzenegger Totally Recalls making $20 million-dollar paychecks

His advice in that book inspired me to work harder to pay off all my credit card debt and start massively saving. See my post How Millennial Money inspired me to start saving $13, 333.06 a year 

Here is some of what he had to say. (Not every word or quote is from her book, but numerous interviews) I highlight his advice in her book with KES (Ms. Schwarzenegger’s initials).  There they are (KES) on the board right behind her.

I really liked this book. So, I tweeted Ms. Schwarzenegger and told her so. She gave me a like. Thanks! I appreciated that. 👍😊

NO OVERNIGHT CELEBRITY

“I had followed the path that the Penn graduate was supposed to take, but I didn’t fall in love.” – John Legend

KES: John directed theater productions in school and performed in talent shows. He wanted to be a big star, but did not know the steps to get there. John said he had a fire in his belly.  No one was coming along to make him a star as he learned along the way. John had to put together a demo and have it produced by the right people. Anything that he was doing that wasn’t music, was going to be temporary.

After graduation, he switched gears (gave into peer pressure) and starting worked for the prestigious Boston Consulting Group, but would also perform in nightclubs in New York City.

Although, music is his first love, he worked a safe corporate job for three years while hustling to get his music off the ground. He received lots of rejections, but continued to side hustle as a musician playing anywhere he could.

DON’T BE AFRAID TO FAIL 

“Fear of failure stops too many people from doing things. It’s not wrong to be afraid, but you have to fight through fear to overcome it.” – John Legend quoted as saying this in Katherine’s book (KES)

Many of his friends became bankers and consultants so he did too. However, after following in their footsteps he found that was not meant for him. He was not cut out to be a consultant.

“I couldn’t shake my passion for music.” – John Legend

He made savvy moves to make his dream a reality. During the day he did PowerPoint presentations, but at night he wrote and performed music.

Fun Fact: While in college, Legend was introduced to Lauryn Hill by a friend. He played piano on Lauryn Hill’s “Everything Is Everything.” That was his first album appearance.

WHY SIDE HUSTLE?

“I needed money. I lived in New York and had to pay my rent.”

KES: John didn’t have any financial support from his parents and he had student loans to pay back. He found that you could make good money in consulting.

He was rejected by all major labels. All the heads of these labels all turned him down.

KES: John paid his own way through college, racking up tons of student loans in the process. He had to deal with them after graduating college. He rolled the dice, took chances, and worked his butt off to follow his dreams, and never lost faith along the way.

Basically, he moonlighted his way to a music career.

BREAKTHROUGH

Havin’ money’s not everything, not havin’ it is. – Kanye West

John’s big break came out of relationships he had made. A college roommate (which was Kanye’s cousin) introduced John to a music producer in Chicago named Kanye West.

KES: John would go to the studio straight from worked dressed in his business attire. He said he definitely stood out from the way everyone else was dressed in the studio. He ended up getting a manager and a lawyer that were also well-connected. This was in 2002.

If you want to be treated like an adult, you have to dress like one. – Diane Kruger (actress and star of National Treasure) See my post on the film. 

Money and Life Lessons I Learned from Disney’s film National Treasure

Through his collaboration with Yeezy, he was able to parlay that into a record deal. His first album was produced by Kanye. He got a deal with Sony.

That album would go on to earn eight Grammy nominations.

Years of toiling and hard work had paid off. It just goes to show, it’s not only what you know, it’s who you know. If you want to be taken serious, then you have to act like you do.

FIRST BIG PAYDAY

“When I got my first big check, I paid [my college loans] off. No more debt!” – John Legend

As you can see, his biggest earnings are from his music. It goes to show that passion can pay off big!

KES: John quit his job and started working part-time so he could focus more on his music. He struggled for a while, living on credit cards and skating by. Then he started making money touring with Kanye. In 2004, he got a deal with Columbia Records and when that happened he didn’t have to worry about money anymore. As soon as he got my record deal, he paid off all his student loans and credit card debt. He said no one ever told him about college loan debt and how to manage it.

Preaching to the choir here with not knowing how to manage debt. And in his case, that is literally speaking as he was in the church choir singing, which would become his meal ticket.

INVESTMENTS

“I bought a place [in Manhattan]. I just bought some art—some abstract stuff—and some collages are coming too. A friend who works at MoMA is like my art consultant. I just wanted nice stuff that would hold value.” – John Legend

You should always invest and buy things that go up in value. It just makes sense.

PASSION MAKES A GRAMMY WINNER

“But that cool detachment only gets you so far. Passion gets you a lot further. It makes you a better entrepreneur, a better leader, a better philanthropist, a better friend, a better lover.” – John Legend

He chose to pursue his interest. This made him his fortune. I call it the House that was built on a piano. 😉

Just FYI: John Legend is a 10-time Grammy Award winner. He won an Oscar for the song Glory in the film Selma.