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Living On $110K A Year In Brooklyn | Millennial Money
Posted
December 19, 2019
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December 19, 2019
928,885
10,359
1,117
1.24%
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Jesus Campos, 24, earns around $110,000 a year and lives in Brooklyn, New York with his wife and two children. He supplements his income as a utility company supervisor by bringing in tens of thousands of dollars on the side reselling items on Amazon.
This is the latest installment of Millennial Money, which profiles people across the U.S. and details how they earn and spend their money.
Read more about Jesus' budget breakdown here
After dropping out of high school his senior year, Campos got his GED at 19 and started working for the utility company in 2017. This year, he'll earn around $80,000 pretax from his full-time job — he is an hourly employee, eligible for overtime – and supplements that income by bringing in tens of thousands of dollars on the side reselling things on Amazon.
Tax records show over $71,000 in Amazon transactions in 2018; Campos took home just over $20,000 of that, pretax. So far this year, he's sold over $80,000 worth of merchandise (he says he expects to top $100,000 by the end of December), banking him around $30,000 pretax.
Credit card statements show the mix of retailers he routinely scours for products to resell, including BJ's, Staples, Target and Walmart. The amount he sells varies widely by the month. He sold over $19,000 worth of product last December, while November 2018 saw just north of $7,000. He spends around 10 to 15 hours per week shopping, packing and shipping.
At first, Campos kept the products in the apartment he shares with his wife, two children and his wife's family. But the eight occupants were already squeezed for space in the 800-square-foot home; piles of unopened electronics and baby toys took up valuable real estate the family needed to live their lives day to day. Now Campos pays $201 per month to rent a storage unit nearby. He drops off the merchandise at the unit after store runs, where he and his wife also sort, package and prep the products to mail to Amazon.
Campos started reselling on Amazon in 2018, and plans to keep ratcheting up his sales volume each year. He hopes that will give him enough money by the time he turns 28 to start buying rental properties and earn more income.
He wants to expand his business to build a family empire. "That's my dream goal," he says. "And from there, give my businesses to my children, and my children's children, as legacies."
You could say that an entrepreneurial spirit runs in Jesus Campos' family. The 24-year-old grew up in Brooklyn, NY, working in his grandparents' bakery.
As so many of the mom-and-pop shops across New York City's five boroughs get eaten up by national chains and families get priced out of the neighborhoods they've called home for generations, the Campos family has held firm in Williamsburg, with La Guadalupana Bakery as their anchor.
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Living On $110K A Year In Brooklyn | Millennial Money
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