How I Started Building My $1 Million Net Worth At 16

About this video

• Video Title: How I Started Building My $1 Million Net Worth At 16
• Channel: CNBC Make It
• Speakers: Sebastian (Implied narrator)
• Duration: 00:07:06

Overview

This video shares the personal financial journey of Sebastian, who achieved a net worth of over $1 million by the age of 28 without a six-figure salary. He details his early real estate investments, his shift towards index funds and investing in the market, his career changes, and his current financial strategies.

Key takeaways

• Early Real Estate Investment: At 16, Sebastian used his savings to purchase a house with his mother, which they renovated and sold for a profit, marking his first step into real estate investment.
• Real Estate Portfolio Growth: He continued to invest in real estate, with profits from one house fueling the purchase of the next, eventually co-owning properties by age 18.
• Introduction to Investing: Sebastian's father-in-law introduced him to index funds and the stock market, opening his eyes to the power of compound growth and leading him to invest for retirement.
• Career Transition: He transitioned from a demanding retail job to a career in the financial industry, seeking a better work-life balance after the birth of his child.
• Current Financial Strategy: His current income streams include his salary as a financial advisor, rental income, and his wife's future full-time income. He maintains a frugal budget and aims for financial independence by age 35.