• Leveling Up
  • Posts
  • Why Young People Are Poorer Than Ever | Humphrey Yang

Why Young People Are Poorer Than Ever | Humphrey Yang

Author

Eric Siu
February 28, 2024

👾 Leveling Up 👾

Hello, and welcome back to Leveling Up!

Let’s kick things off by looking at Monday’s poll results:

Q: How are you updating your content to do well on AI search engines?

Winning answer: Mixing Old and New Tricks: Keeping up with usual SEO (like keywords) while also using AI to get new insights for better content

Surprised by these results?

Let me know your thoughts with a quick reply. I’m curious.

- Eric Siu :)

Want a FREE Custom Marketing Plan?

Tell us a little bit about your company, and our marketing experts will put together a detailed plan to hit your growth goals—100% free.

New Interview

Why Young People Are Poorer Than Ever | Humphrey Yang

Humphrey Yang discusses the financial challenges faced by younger generations and offers insights on building wealth.

Wealth accumulation strategies and insights

  • 💰 Job hopping may result in much higher salary increases than the standard 10%, as seen from personal experience and not accounted for in studies.

  • 💼 Humphrey took a pay cut when he went back to working in video games, but quickly rose from making $36,000 a year to $140,000 in just a few years through promotions.

  • 🤑 Saving 20% of your paycheck is recommended for becoming a millionaire as quickly as possible.

  • 📈 Net worth explodes after reaching $100,000 due to the compounding effect, making it easier to accumulate wealth.

  • 💰 "It's hard to get wealthy renting out your time for a set salary. You have to find something that scales disproportionate to your time."

  • 🏠 Living at home rent-free provided stability and privilege, allowing for the confidence to take on risks and start a business.

Long-term mindset and patience in building wealth

  • 💡 Most of Warren Buffett's net worth came after his 80th birthday, emphasizing the importance of patience and long-term focus in building generational wealth.

  • 💼 Building a profitable business takes a minimum of three years, and all the gains are compounded, so the longer you stick with something, usually the better.

  • 📈 The breakout year for the YouTube channel was in 2023, showing that success doesn't always come quickly.

  • 💼 Starting a business is the best personal growth engine and forces you to take responsibility for yourself.

Need high-quality candidates?

At Single Grain, we have a rigorous recruiting process to hire the best marketing candidates.

If you'd be interested in having us source great candidates for you…

Which of these strategies for building wealth resonates MOST with you?

Login or Subscribe to participate in polls.

-Eric Siu

P.S… We have a ton of free content to help your business grow: