How A Financial Analyst Turned TikToker Went From $0 To $100,000 - Austin Hankwitz x Jaspreet Singh
Published: 2024-02-14
Status:
Available
|
Analyzed
Published: 2024-02-14
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker aims to build a $2 million dividend growth portfolio within 8-12 years, generating $70,000-$100,000 in annual income.
"Hopefully in the next 8 10 12 years I can achieve this Freedom number and you know have it spit off if it's you know 70 80 90 100,000 a year in income from this portfolio depending on what the you know dividend yield is"
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The speaker's goal is to achieve retirement by their mid-30s.
"By your mid-30s you'll be essentially retired that's the goal that is certainly the goal"
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The speaker will outline 3-5 steps for individuals to reach their first $100,000 in savings.
"how do they go from that to their first $100,000 what are the three to five steps you would recommend for that"
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The speaker will discuss strategies for high-income earners (doctors, engineers, executives) to invest their money more effectively.
"now for the higher income earners because we have a lot of people watching this that are your doctors Engineers Executives making multi six or seven figures a year wondering what are ways for me to invest my money better"
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The speaker suggests prioritizing investing $7,000 in a Roth IRA for long-term compound growth over paying off low-interest debt (around 4%), as the investment is projected to yield significantly more over 35 years.
"I'd much rather have $7,000 working for me in an account that I can't touch for let's call it 35 years so compound interest at least that first 7,000 is probably going to turn into assuming 7 to 10 % annual returns you know the market doubles every seven years that's probably close to 40 or $50,000 versus putting that 7,000 and trying to pay off the student loans or the the low interest debt"
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The recommended approach to starting in real estate is house hacking, by purchasing multi-unit properties (duplex, triplex, quadplex) and utilizing a 5% down FHA loan, then renting out the other units.
"the best way to get started in real estate is to house hack right that's to go buy the duplex the triplex the quadplex you know get over your ego you can live in a duplex Triplex or quadplex you'll be fine you don't need a beautiful single family Mansion go get one of these pieces of real estate use the Fanny May 5% down loan"
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The speaker advocates for investing $500,000 to $1 million in covered call ETFs that yield 12-14% annually, aiming to generate $120,000-$140,000 in income per year and achieve retirement in their 30s or 40s.
"my goal here as an income focused investor is like wait a second if I can get half a million dollars 600,000 700 maybe call it a million dollars here into these incom producing ETFs and they pay me 12 13 14% annual distribution yields I could make 1201 130 $140,000 a year in my 30s or 40s and I'm retired at that point"
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In 2023, the SPYID ETF had a total return of 19%, outperforming the XYLD ETF by 7% and the JEPI ETF by double.
"which is why in 2023 the Spy total return was 19% compared to the 11% of X yld and 9% of jeppy so outperformed jeppy by 2X and outperform xyld d uh by what was that 7%"
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The speaker's aspiration is to retire in their 30s.
"I want to retire in your 30s like be done working"
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The speaker purchased their first property, a home to live in, at the age of 23 or 24.
"my first property um your first property was a a home to live in or it yes it was a home to live in and what happened so I'll give you the whole story here so the first house I bought I think I was 23 or 24 years old"
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House hacking, by buying multi-unit properties and living in one unit while renting out the others, is presented as the optimal entry strategy into real estate investing.
"the best way to get started in real estate is to house hack right that's to go buy the duplex the triplex the quadplex you know get over your ego you can live in a duplex Triplex or quadplex you'll be fine"
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When investing in startups, especially those that will be promoted, the speaker looks for a product beyond just an idea, with some traction and a clear understanding of the associated risks.
"for me I need to look at the product and I need to look at the traction of what they're actually building and if they're in beta that's okay but understand that risk so for me now if I'm especially going to be working with somebody on the promotional side they need to be a little bit beyond just where have an idea"
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The startup Stan.store, in which the speaker invested $75,000, grew from zero annual recurring revenue to $17 million by the end of 2023 and is projected to reach $35-45 million by the end of the following year.
"now that company went from zero in uh you know annual occurring Revenue to uh 17 million by the end of 2023 and they're on track to um hopefully fingers crossed to between 35 and 45 million by the end of this year"
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The speaker allocates 18% of their investment portfolio to speculative assets like startups and crypto, with the remaining 80% primarily in real estate (due to understanding it) and stocks.
"about 18% of my portfolio Investment Portfolio is speculative assets okay that's my startups that's crypto if I find another fun investment I'll that I understand that that's that's where that is sure um if it goes to zero okay if it makes a lot of money okay like you know it's one of those things where it's kind of a fun Investments but the bulk um 80% is is my real estate and stocks and the majority of the 80 is real estate because that's something I understand"
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To achieve financial independence, individuals should invest in business equity, which can scale beyond personal efforts.
"you have to put money away and invest it into what you know we talked about earlier equity in businesses because they they go up in the scale uh Beyond just yourself"
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The speaker's goal is to be finished working by their 30s.
"I want to retire in your 30s like be done working"
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The speaker admits to initially wanting a 'cool car' after college but credits Dave Ramsey with instilling the mindset to avoid such purchases and focus on financial discipline.
"I was like man I I got a cool job out of college like let me go get a cool car right like I I had the car payment here and there um I was but I would argue so weird to say this the person who really like beat the you don't need an ego like get it out of your mind was Dave Ramsey"
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The speaker's real estate investment strategy requires properties to cash flow; they will not invest in properties that do not.
"for me if it doesn't cash flow I won't invest in it"
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The speaker acknowledges investing $75,000 in a startup that failed completely, highlighting the inherent risks in early-stage investments.
"I have also written a $75,000 check to a company that went to zero and is a nothing and no one knows about them cuz they never got off the ground and it was a terrible idea"
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The speaker has considered investing in their own business versus the market, noting that business investments can have higher risk and reward.
"So is that something you've thought about is investing that you know 22 Grand into your business as opposed to your Investments and um if so what are your thoughts on that"
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As a self-employed individual, the speaker utilizes a solo 401(k) through their S-corp, contributing the maximum $23,000 annually and opting for the Roth version for tax-free growth.
"so the solo 401K is a way for me as a self-employed individual to go to my entity it's a escorp right it's an LSC tax is an es Corp I can go to my entity and say hey open up this uh solo 401K in the eyes of the IRS and I'm going to now contribute just like I do the 23,000 over here but I'm going to do it to my own sort of company entity here so just like that I'm going to have my $23,000 in my solo 401k and what I choose to do is the Roth version"
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The speaker's key mindset shift was realizing that the world is not a zero-sum game, and that one person's financial success does not preclude others from achieving their own.
"the biggest mindset shift I made when I was in my teens when I was in college I've been a s house my whole life right um I had a t- shirt business in high school I was doing some t-shirt stuff in college I was cleaning car headlights I was making websites dude I was doing everything and I loved it right the mindset shift I made and it really really really helped me build my business today is that it is not a zero sum game me making money from someone somewhere in the world does not mean that you can't also make money from the same person"
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Covered call ETFs utilizing Section 1256 contracts offer tax advantages, with 60% of income taxed as long-term capital gains and 40% as short-term, unlike JEPI which taxes 100% as short-term capital gains.
"they use section 1256 contracts it's a form of an option contract which is literally such a hack people don't know about here these section 1256 contracts does not matter at all how long you hold the ETF if you are producing income for your investors in this ETF so these fund managers right they're making money for investors like me all the money I make with this ETF 60% of it is taxed as long-term capital gains and 40% is as short-term capital gains compared to jeppy's 100 % short-term capital gains"
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The speaker aims to have $500,000 to $1 million invested in income-producing ETFs yielding 12-14% annually, projecting an income of $120,000-$140,000 per year and achieving retirement in their 30s or 40s.
"my goal here as an income focused investor is like wait a second if I can get half a million dollars 600,000 700 maybe call it a million dollars here into these incom producing ETFs and they pay me 12 13 14% annual distribution yields I could make 1201 130 $140,000 a year in my 30s or 40s and I'm retired at that point"
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For 2024 and beyond, the speaker plans to focus more on personal finance and investing content creation, prioritize working out, and spend more time with their father.
"I want to change that in 24 and hopefully in 25 and then you know retirement and all the fun stuff there so I would say a lot more time spending you know energy focus and everything I could to make the best content relating to personal finance and investing as well as working out a little bit more spending more time with my dad"
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When evaluating startup investments, the speaker prioritizes the product, its traction, and understands the risks associated with early-stage (beta) companies.
"I need to look at the product and I need to look at the traction of what they're actually building and if they're in beta that's okay but understand that risk"
Pending
To achieve financial independence, investing in business equity is crucial as it can scale beyond personal capabilities.
"You have to put money away and invest it into what you know we talked about earlier equity in businesses because they they go up in the scale uh Beyond just yourself"
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The speaker believes it's more beneficial to invest $7,000 in a Roth IRA for long-term compound growth (potentially turning into $40k-$50k in 35 years) rather than using it to pay off low-interest debt.
"I'd much rather have $7,000 working for me in an account that I can't touch for let's call it 35 years so compound interest at least that first 7,000 is probably going to turn into assuming 7 to 10 % annual returns you know the market doubles every seven years that's probably close to 40 or $50,000 versus putting that 7,000 and trying to pay off the student loans or the the low interest debt"
Pending
The speaker maintains an 80% allocation to core investments (real estate and stocks), with 18% dedicated to speculative assets like startups and crypto, emphasizing that speculative investments should not form the majority of a portfolio.
"about 18% of my portfolio Investment Portfolio is speculative assets okay that's my startups that's crypto if I find another fun investment I'll that I understand that that's that's where that is sure um if it goes to zero okay if it makes a lot of money okay like you know it's one of those things where it's kind of a fun Investments but the bulk um 80% is is my real estate and stocks and the majority of the 80 is real estate because that's something I understand"
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The speaker has invested in over 31 startups since March 2020, with one significant success, Stan.store, having a valuation increase from $20-25 million to an estimated $150-300 million.
"I invested into 31 startups since uh March of 2020... I got in at the I think it was a a $25 million valuation $20 million valuation um even with their numbers right now I I'd argue 150 million and hopefully by the end of the year much closer to $250 $300 million valuation"
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The speaker paid six figures in taxes for 2023 and plans to use services like CarryMoney.com to strategically maximize investments and retirement savings.
"I will pay six figures of taxes for 23 I mean it was disgusting but um well it means you made a lot of money sure yeah but yeah um so a couple things I do to maximize my investing my retirement to make sure that I'm being strategic here Number One is there's a company called carry money.com"
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