This millennial will inspire you with his quest for financial independence. Sahil Mehta earns $515,000 a year flipping houses in addition to his full-time job at Golden Gate Sotheby’s.
Mehta grew up in a low-income household. He moved to California at 16, where he started college and graduated early to launch a successful career in real estate. Today, he has already put five rental apartments into the real estate market in Berkeley and has been able to make a profit from them.
He acknowledges that prospective investors require substantial capital even to enter the game. One essential thing he considers in investing his money is making deposits into a personal retirement account. Now, Mehta puts a lot of money into himself and puts away about $10,000 monthly for real estate investments.
The 25-year-old also invests $1,500 per month, while most financial advisers recommend saving 10% to 15% of income for retirement. Brilliant move to put some of it in an IRA, where it can multiply at 6% to 8% every year.
O’Leary, chairman of O’Shares ETFs and a judge on the new CNBC show “Money Court,” was impressed by Sahil Mehta’s connotations to stock market strategies. “That’s what you’re putting aside for your nest egg when you turn 65.”
