Living On $615K A Year In Seattle | Millennial Millionaire

Living On $615K A Year In Seattle | Millennial Millionaire

My name is Todd Baldwin. I’m 27 years old. I live in Seattle, Washington, and
I make $615,000 per year. Money by itself really
won’t make you happy. All it is, is a tool
to get you what you need. It’s security and you know, it can
provide you a great life, but it doesn’t buy you happiness. Like people think it does. Out of the $615,000 we bring in, we
invest almost all of that just back into the business, back into more
real estate or into different brokerage accounts. So we don’t actually see a
lot of that because it’s all invested out. But yes, it’s a very comfortable
lifestyle and it helps that we’re incredibly frugal. All for free. I earned the bulk of my
money through real estate investing. We’re bringing about $460,000 per year
doing that, and about $150,000 is profit and that is after living completely
for free and all expenses are paid. We bought our first
house at age 23. We are now 27 and we have $4.4 million dollars worth of real estate. So some people think that the hardest
thing about real estate will be either insurance or taxes. Luckily, I work in insurance and my wife
is a CPA working in tax, so my wife and I live completely for free
by house hacking and having roommates. So we live in a brand new duplex and
we have the other half of that duplex on Airbnb and we live
in the main half. We also converted one of the
garages into a studio apartment. We have that on Airbnb as well. And in our main unit, the half that
we live in, we have roommates, so we rent out one bedroom for $1,200
and another bedroom for $850. After living in our duplex completely for
free by renting out the other half, the downstairs garage, and the
bedrooms on our side, we live completely for free. Plus we
make $1,850 in profit. I was raised by a single mom and
I watched her struggle working four jobs to try to feed three kids, and she
was worried all the time about money. And I saw it and I could feel it. And it wasn’t a good feeling. And from a very early age, about 12
years old, I told myself that that’s not something that I wanted in my
later years, that’s not something that I wanted for my family, and I had
to make a change and do something different. I got my first job literally
shoveling manure for $3 an hour. And I came home one day and I
think I counted up six dollars worth of quarters. And at the time it was
more money than I personally had ever seen. And ever since that moment, I was
like, all right, I’ve got to make millions of dollars. I’ve
got to be successful. I’ve got to get my money right. And I’ve been on that track ever
since I started making money online when I was 15. And then I started
investing at age 19. But I really just, through reading
books, listening to podcasts and watching YouTube videos, I really just kind
of had to figure it out and learn as I go. When I
first got into the commercial insurance business, I had a salary of $50,000
and I was making 9% commission on sales. After my first month with that
firm, I actually broke a record for the most amount of appointments
set via cold call. After about nine months with that firm
and doing really well there, my base salary went up by about $4,100
per month and my commissions went from 9% to 40%. When I was 12 years old, I had
the goal that I wanted to become a millionaire by the age of 30 and
after working like crazy and investing and acquiring properties, our net worth crossed $1.2 million when we were 25 years old. Some other things I refuse to spend
money on will probably be eating out and movie theaters, but only because I
know how to get paid for that. I’m so frugal that I can’t
fathom spending money on that stuff. So in my mind, it makes sense to get
it for free and get paid to do it. They will hire mystery shopping firms
to find independent contractors like me to basically go pose at their
establishment as a regular customer, buy their product or service, and then report
on that product or service when you get home on an online platform,
and when you do that, you get reimbursed for whatever you bought. Plus, typically some profit
on the top. We have a punchcard, so our free coffee
is adding up to an additional free coffee. So it’s like compound interest
basically just on free stuff, which is mind blowing. When I was in college, I was
completely broke and my wife now but girlfriend at the time, I wanted to take
her out, but I didn’t have any money. It took me two months of saving
just to take her out on our first date. And two weeks later, I
got a check in the mail. And ever since then, we’ve been
going to different restaurants and hotels, resorts, casinos, getting paid for all
of that and getting reimbursed for what we spent life to date. We’ve made just over
$30,000 by secret shopping. The best part is it’s
stuff we would otherwise do. I grew up in Washington State. I met my wife in college. Although our net worth is seven figures, we
don’t do a lot of the typical things that most people
envision millionaires doing. We share one car, which
is a 2009 Ford Focus. We are super frugal and you know you’re
a real estate guy when you have $4.5 million dollars of cash-flowing rental
properties, but you spent $12 on your wedding ring made
completely out of rubber. I am not a showy or flashy guy,
but I do want the Tesla Roadster. I don’t want it to go floss
on Instagram or for anything like that. I want to because it’s the
fastest car in the world. I’ve got a lot of places to
be and zero time to waste. Personally, I would be OK flying first
class and doing stuff like that. My wife won’t let us or she doesn’t
let us fly first class even though we could very easily. So we’re just, we’re very frugal. We’re not cheap, but we would just
rather spend money on things that also make us money. We don’t really
like spending money on expenses. We could probably actually retire
now if we wanted to. But our goals are so
much loftier than that. I want my 6,000 apartments by the age of
60, so I don’t know if I’m ever the type of person to truly
retire in the traditional sense. If anything, I want to spend a little
bit more money on my wife to surprise her or do something special for her,
but she is so frugal that it usually doesn’t go over well. So I ended up taking it
back and doing something else entirely. So this is going to freak
a lot of you out. And Dave Ramsey, if you’re watching,
don’t have a heart attack. I have 13 credit cards and
I actually collect credit cards. Now, I don’t carry balances
on any of them. I use a strategy called credit
card churning, which is basically opening up a new credit card, taking advantage
of that new account bonus, paying it off completely and then rinse
and repeat with the next card. When we were converting our garage apartment
into the Airbnb, I knew that there was gonna be
some expenses with that. So I opened up a new credit card
where if you spend $1,000 in the first three months, you get $200 cash back. Now, I’m not telling anyone to go out
of the way to spend $1,000 to make $200. Otherwise that’s an $800 loss. We would have spent that $1,000 anyway,
so we might as well take advantage of the $200 and we can get cash back. I used to box in high school,
I was a boxer for two years. Now my wife won’t allow me to compete,
but I still do training when I can. My MMA gym is $100 per month and
although that’s a little bit more, it’s still well worth it for
the training that I’m getting. Our L.A. fitness gym membership is $30 per
month and that is well worth it because your health is your wealth. It doesn’t make sense to be
the richest man in the graveyard. So we’ve got to keep going to the
gym and taking care of our bodies in the next couple of years. My wife and I do want to start a
family of our own and being in that position of just knowing that we can
pay for their college wherever they go and we can go on the family
vacations, and the biggest thing is being able to be there and
be a present father. I think is huge. It’s a huge blessing that we’ve been
able to accomplish everything that we have so far.



  • CNBC Make It.

    What’s your budget breakdown? Share your story with us at [email protected] for a chance to be featured in a future installment. We are especially interested in hearing from first-time homebuyers in Denver and Toronto.

  • Maani Agarwal

    All that money and you still share your house with roommates? That too when you're married 😷 you earn so much, atleast live a decent life. What's all that money for? Stashing away? Irrespective, huge respect for this guy and hope he continues crushing it

  • TeemaQumar

    Todd "My Wife Won't Let Me" Baldwin

  • jodog31

    Health insurance is a scam. He is a parasite.

  • Brian N

    gonna need that money for a new hairline bruh

  • Kethan Raman

    graham is gonna be sad. Good Job

  • Drew B

    This is kind of pathenic, smart on the investment side but to much is to much

  • karan agarwal

    GRAHAMMMMM, where is our coffee master

  • Sergio PALACIOS

    I've been wanting to be a secret shopper but all the places I find online or a bunch of scams.

    Can anyone recommend a legitimate company or how to get started on being a secret shopper?

  • Theresa

    Yep… another Graham. Everyone else read my mind. Credit card churning.

  • Samuel Hanna

    Man, I wish I could find a woman who had this type of mindset.
    I keep getting women that make up places to go and expect me to pay for it. Smdh

  • Anh Phan

    He’s my role model

  • Wishall Thode


  • Shivani M

    Is it weird that I’m proud of him?

  • Ray Chen

    5:33 is the most awkward stuff i have seen in a while..wife expected a gentle move in front of the camera but nope

  • prospecops

    He doesn't profit $615,000 though, misleading title although technically correct.

  • Simon Chuo

    I had to evict a tenant once, don’t just look at a persons salary and think their life is perfect, it’s not. Managing tenants, dealing with building codes and violations. Dealing with court for unpaid rent. Sometimes renters destroy the place. I’ve seen enough disputes between landlords and renters to know that managing property would send my health into a downward spiral. I probably won’t take that six-figure IT job and probably won’t have a million dollar net worth, and I’m okay with that. I’d rather live a low-stress life with a lot of work life balance. I do want to see if I can get a 3-4 day work week eventually. I know Americans will call me lazy and a failure, but work/life balance is all I really care about. I’ve seen enough parents were six figure incomes and franchises that had deteriorating health because of the stress. My dad used to work in construction so I know how much planning and nightmares you have to go through. Sometimes, the owner won’t even pay for the 30-40 thousand dollars of work we did. It’s just terrifying.

  • A Ng

    he has so much potential but he needs to start lifting…

  • kailiang huang

    First of all kudos to Todd, but I question through according the video, 4.5 millions real estate portfolio, 6 properties, bring in 460k per year, 38k per month, meaning each property bring in 6.3k. Base on, the average rent range for Seattle is 2.1k with average size of 694 sqft. Even for the most expense area Belltown, the rent is 2.6k. How could we generate 6.3k rent per month? AirBnB?

    Really appreciate any insight on getting almost 10% on rent return.

  • Quý Trung

    Not bad

  • victor barton

    should really have some more life insurance…

  • VanGogh22

    How is food only $25/month??

  • Simon Chuo

    I tried hanging out with a frugal female friend, it made me so ill and sick that I just gave up. She made me try apps like ibotta and showed me coupons and ways to get free things that I don’t even want or need. Growing up, my parents showed me how horrible cheap people were. Skipping meals, refusing to feed their kids, guess I always saw any attempt at saving money to be a bad thing growing up. I find it a lot easier to just not spend money instead of finding coupons or ways to get paid to shop or eat (most of those pastries would send me to the emergency room for food poisoning anyway). It just seems a lot easier to abandon online shopping or shopping all together unless you know you need groceries or household items. Be careful do those Walmart, Walgreens, Home Depot, Whole Foods, etc apps on your smartphones. They have constant notifications about sales that drive me up a wall because I know I don’t need any of that stuff. They want to constantly be buying things all the time and at 24 years old, I’m burnt out with this consumerist culture. It’s just an exhausting way to be alive.

  • isael sotelo

    this is Graham and MeetKevin's new best friend

    Graham — $25 for food? Dude, you can cut that off to at least $15

  • Andy Andeeee

    Most "educated " people, well actually most most people are in fact Financially Illiterate and bad habits and behaviors compound that unfortunately.
    Change your mind, change your life!

  • Dong Sang

    Something is not right… really have to share a car???

  • Serena smith

    $25 a month on food? That doesn't add up…

  • no40

    He said money can't buy you happiness but proceeds to build something that will make him extremely wealthy…..hypocrisy much?

  • Siuila Angilau

    Bruh… I live in Burien 😶😮

  • zerogale99

    “Money doesn’t bring happiness” says the guy with money, I would be happy af not stressing about bills.

  • Paul Oketch

    All that money, you don’t eat out ,your wedding ring is made of rubber … whats the point of having it and working so hard. This plan could work very well if someone was broke

  • MoH Rocks

    Im sorry but i refuse to believe that money doesnt make you happen. I feel like only rich people say that, i mean those who have always been rich, because they dont know what it is like to not have money…..

  • Jed's Tubes

    Right away as a person who sells something that as a product imo is unethical, cannot respect this guy. No I'm not a liberal.

  • NaomiAugustTV

    does anyone else get the vibe that his wife might hit him?

  • Stef

    You say your not cheap but you got a rubber ring? Lol what?!

  • Minerva Li

    A health insurance broker and property speculator. wow what a combo

  • Joni Lyne

    Dave Ramsey would be proud. Never mind….he won’t with them credit cards lol

  • Asian Hacker

    5:30 your his wife thought he was pulling out the chair for her

  • Chris Lane Jones

    No State Income Tax!

  • Ana's DaringAdventures

    "6000 properties by 60" #goal! Go on Sir….make your money moves

  • Chris Lane Jones

    There is only one thumb, I want to give this video more likes.

  • w w

    I grew up oppressed by capitalism and property ownership so I grew up to be a capitalist landowning millionaire

  • Manuel Seda

    But that’s $450K where’s the other 200K her salary?

  • aboubakr152

    You making graham look average

  • lampali

    I don’t live for free but have the privacy of no roommates

  • aboubakr152

    Really can’t help but feel like this guy might be, let’s just say, is using a little bit of hyperbole

  • Twe Foju

    So hes 27, earning almost 700k a year, and drive that kind of car? Respect, any other 27 year old earning 150k a year will be driving bmw or mercedes

  • Pipiras Pipirenas

    ur car sucks, live a little u got so much cash u wont take it to grave

  • leonxl

    Hate when people with money say money doesn’t equal happiness. Ok go down to 30k if you don’t need the money then. And why are you trying to get more and more if doesn’t make you happy. It obviously does ffs

  • cindy mananzala martinez

    Rich people saying "Money doesn't buy you happiness" with a very happy smile on his face.

  • pullupseattle

    Finesse king 👑 makes 600k a year and has roommates if I had that money I’d live in the nicest cabin an hour away from Seattle.

  • Neil P.

    Credit cards pts. Offers are about to plummet.. gee thx for ruining it for us

  • tehKettyBear

    Umm how the heck do you spend $25/on food? I see more than $25 worth of food in that fridge. $6 a mo is a lie with the credit card fees unless they deducted the benefits from the fee. The Alaska credit card alone costs $75/year and he has 12 more credit cards!

  • homebo

    The risk is obviously facing big recession. A lot of people went bankrupt doing what he does back in the subprime mortgage crisis. The next recession wont be as big but who knows.

  • Jose Ferreira

    cant wait for Graham's reaction

  • Johnson Taylor

    What’s the point of having money if you just still live with roommates?

    Nah, I’ll pass but good for him

  • Poet Victoria Hunter

    Renting a bedroom for 1200 dollars, sorry but sound very crooked, he is lieing. Some top hotels don't even pay that much. He made the money another way but don't want to say cause it probably was illegal. Just keeping it real.

  • Jordan Durzi

    The name of the game. It's called capitalism for a reason. The goal is to amass capital & assets faster than everyone else. The thing you don't mention is that the majority loses 😉

  • Dylan Temperton

    If I saved a dollar each time he said "frugal" I would have a higher net worth than him – but seriously, he's doing awesome!

  • hamza4real

    He pretty much makes $615K and lives in a hostel

  • MeiXIng Michael


  • Am S

    Apparently he lives for free

  • Devashish Kala


  • Zaida Grace

    Good for them.

  • Rudy Nathan

    Real estate is a basic need, not an investment vehicle. People will never learn.

  • Mitchell Casilly

    This guy won the lottery, his wife is a miser/saver…Otherwise he'd be broke right now if he married a thot, no offence

  • T.I.

    There’s no way I would even consider making that kind of money and having roommates

  • Enlightened Musket

    Graham will be so proud.

  • 47 Singh

    Too frugal. And single mum but you don’t live with her or take care of her?? But have roommates. Stop chasing numbers. Life isn’t about spending money. It’s about spending time with loved ones.

  • Maw Fah

    how much do you spend annually on vitamin D since there is there is no sun in Seattle

  • Blog Dayz

    Graham Stephen react to this😄

  • Big Chunky

    CNBC: New Millennial Money/Millionaire video is out!
    *00.06 seconds later
    Graham Stephan: Ight, I'm finna roast this persons finances.

  • Maw Fah

    my wife won't allow me to compete?????

  • Andrew Felton

    This inspired me so much

  • Top Sports

    How are you frugal when you have all that money coming in,enjoy your life and spend money on WHAT YOU WANT. This doesn’t mean you shouldn’t save and invest;but what’s the point you f making all that money if you can’t enjoy it ?

  • Suzette Campbell


  • greentealatte

    0:31 puts on sunglasses
    0:33 next scene: drives a Ford

  • Chris Kim

    Millennial millionaire always exaggerating their actual personal income. His personal net income would actually be around $300k after business expenses aka his rental mortgage, insurance, taxes etc.
    They are including all business operations revenue as his income. Which is not true.. Should look at his NET personal income. It's 300k.

  • Teerth Upadhyay

    Inspiring but couldn't digest why would one have roommates when earning so well.

  • Keshini Warnakulasooriya

    I was on the verge to get kicked out of my house and this site saved me Fun Onli neWo rk .com

  • L. K.

    Awesome guy.Never give up!

  • opinions Capital

    27? He looks 47

  • Beentga757

    How can he say he went from being broke in college and then a few years later with a net worth of $1.2 million?

  • Sophy Ouk

    If money doesn't make you happy, then go work at burger king and live frugally, stupid.

  • Maya Bryant

    I’m a mystery shopper too! I don’t plan on stopping even when I become a millionaire.

  • N/A

    This is the kind of couple that forces friends venmo them so they can take the points.

  • Joshua Sim

    haha money won't make him happy, maybe he is not earning enough

  • El Toq

    I mean it’s kinda nice not to be flashy and stuff. But living with your wife and roommates, is too extreme.

  • Kirk Porter

    Did he just say that he isn’t cheap but said the word frugal like 7 times.

  • smh

    This is a bit extreme. Putting a lot of money towards brokerage accounts? Remember 2008? Look what's happening right now to the market. Trillions gone.


    That gym scene has me questioning everything.

  • Duarte Papa Vicente

    He’s the best I’ve seen on here. My wife and I are learning to be frugal . Great story

  • Derrick Gordon

    $25 on food per month? Wtf?

  • Kc Brands

    5:30 both face mean everything

  • Ikani Taumoepeau

    Wow…. love the mindset

  • reka yoo

    how would you get a company to hire you to test their services?? does one need qualifications for that

  • Dean Price

    I asked for someone who didn't start on 3rd base after the last video and you delivered. Thank you @cnbcmakeit. These two are hustlers!!

  • Just Random

    I believe it because Seattle's real estate prices jacked up when Amazon started gaining momentum and also 2009 crash has made a lot of people millionaires who've invested in real estate at the time. Also, since Seattle is a liberal capital where everyone bikes to work, eats overpriced vegetables, and quite hip on being healthy, this guy has invested in a lot of right things to be rich in Seattle. For me, I hate how Seattle has become so expensive but I guess I am the loser in this case.

  • Lori Giampa

    This is wack. Lol u make all that money and u rent a room in ur own place. Man. Enjoy ur money. He would still have enough $ if he didn’t rent one room. Seems cheap to me even tho he said he’s not cheap. 😐

  • MissJess Ess

    Can you cover Tori Dunlap (Her First 100k) in Seattle and Chloe Crain (deeper than money) in Kansas City?

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