I Just Invested 100K
March 27, 2020
229,246
18,970
2,730
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Andrei Jikh Episodes Around March 27, 2020
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16:28Now PlayingI Just Invested 100K
YouTube Description
as posted by the channelToday I made one of the biggest investments of my life, by investing $100K.
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I usually talk about investing, the stock market, saving money, being frugal, my goal of becoming a millionaire, but today - I'm not going to show you my Robinhood account or talk about dividends. Today I'm going to spend 100K and make one of the biggest investments of my life.
Today's video is more about investing in the future of my parents by paying off their mortgage and buy their house. Now I personally don't own any real estate, but for my parents, this is the largest asset they will have when they retire. Recently, they've both been laid off and I thought this would be something they could really use in these tough financial times that we're all facing.
In this video, I took all of my YouTube ad revenue that I received in 2019, went to the bank, and took out a cashier's check. But instead of investing it with Robinhood / WeBull / M1 Finance like I usually do, I'm just going to surprise my parents.
The check I withdrew total $75,000 but the taxes I paid overall make the total exceed 6 six figures. The reason my taxes were so high is because in 2019, I was not an S-Corp, which means I could not shelter my business profits from self employment taxes which is medicare and social security. In 2020, I incorporated and I can finally lower my tax burden. However, doing it this way was the best way to invest money because otherwise, my parents would have to front a huge tax bill that I would not want them to pay.
This was one of my biggest milestones that I've always wanted to achieve, far more than becoming a millionaire investor or building a multiple six figure dividend portfolio.
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