How I Afford NYC Living On $17K A Year | Millennial Money

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Cliff notes: he's living off his savings primarily

Relying solely on social security isn't advisable. I've learned that the most efficient path to wealth, both in acquiring a million and sustaining billionaire status, is through wise investment strategies.

If you're using your savings you're not "affording" to live there

He is spending his savings, I feel like they click-bated us on this one. He is great but the video title is clickbait

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

The immigrant in me cannot comprehend these choices…

Misleading headline. He's not living in New York for $17,000 a year. He's living off that and his savings. He spent almost $2800 in January. If he averages that throughout the year, then he's living in NYC for around $33,600 per year. Which is $16,600 over $17,000. Because guess what? You can't live here in NYC for $1700 a year.
He makes money as an actor and he maintains luxury cars for the rich and he gets paid $20 an hour. Unbelievable. This is exactly why people can't make a liveable wage.

Technically Max is using savings to sustain his life, BUT I still love this episode. He had the opportunity to do the 9 to 5, it wasn't for him and he took the risk of doing something else. I say KUDOS and wish him well. Personally, I didn't have anyone else to fall back on, so stability was more of a priority when selecting a career.

Analyzing his scenario, if he likes acting, why not be a youtuber? He could easily be a car review guy because of his knowledge with working with cars. Start small and expand your team. KRplus/Tiktok has been a new frontier for people to make money in front of the screen.

I hope his dreams of being a successful actor comes true.

He embodies an entire NYC sub-population: the hopeless creative, sustaining themselves through a finite savings account (or parents), trying not to let the dream of "making it in NYC" die. Hope he's one of the lucky ones.

It feels like a promo vid for the actor

Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 17k in last month 2024

Here when the title read $17,00

Bro isn’t affording to live. He’s dipping in to his savings which is down to $10k. His average monthly spend is $2,796. He’s only got about 3.5 months with that, and even if he has an average of $17k or $25k in his bank account, it won’t be enough for a whole year. Unstable gigs and part time jobs can only sustain him for a few months. The cycle will just repeat itself. Video shows he looks upbeat and energized, but inside I think this dude is struggling. I hope CNBC compensated him a decent amount to make this video.

Dudes living in lala land

I want to wish the best of luck to Max, it's extremely hard to chase your dreams, but it's worth it!

At last a CNBC Make It that makes me feel better about myself

Turns out the way you afford living in NYC is by paying for things (with your savings). What a secret!

The financial hack here is to live with your parents for an extended period. Additionally, ask those richer parents for money to sustain your lifestyle. It's genius.

2 cars making $17,000, how much is insurance by itself,

Good story but clickbait title
He's using his savings too

I wanted to pursue acting, but the idea of being broke and always looking for the next gig was not a lifestyle I wanted to live . Actors have a 99% unemployment rate. 0.04 actually make it. But I wish him luck , hope he makes it

So the title of this video is a lie to get clickbait: "How I Afford NYC Living On $17K A Year." He earned $17,000 acting in 2023, in which his income was reduced by the actors' strike. He did have other income, savings and other jobs to meet his expenses. That is not living on $17K a year in New York City. CNBC has now lost all credibility with me.

I like Max (what a cool guy) - I can tell he's not money motivated which is so refreshing to see. Go Max!!!

How can you afford 2 cars? Also the insurance per/vehicle and also gas ⛽️

It makes me stressed how not stressed he is about his financial situation. That being said- love how he’s living his life the way he wants!! Good for you baby boy

The title is NOT clickbait. He indeed makes $17k a year. If they were to add all the details about his savings, that'd be a very long title.

i’d hire this guy in a second. loved this, super real, super relatable for a lot of people in the creative or entrepreneurial field

Way to go bro! mindset is half of the game and you're nailing it! I'm sure it's just a matter of time before even greater opportunities open up for you in life and love and creativity ::)

your right. you don't have any debt. but the cost of living is getting so expensive---especially in New York City. Just seeing someone making no money gets me overwhelmed

I wish him well. At 38 I rebooted my career and while I was lucky to land on my feet, it’s not easy. It’s not certain, and you are always battling remorse for the choices you didn’t make and especially the ones you did make. But if it works out, like it has thus far for me, it’s the greatest feeling and I would wish it on every human being.

People shouldn't criticize. He is a starving artist by choice. I'm sure if he runs low on funds he will have to adapt with a different strategy. It's great that CNBC is featuring people at different economic levels of living.

I understand Max.. he’s a passionate guy… I hope he finds a career field that he loves and that meshes with his personality type.

Well explained. Thank you for bringing up this video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject! Thanks to Mylah Evander the lady you recommended...

Misleading title. He’s living off savings.

Plus, he has the privilege of having supportive parents, friends, and family members. Not everyone is blessed to have those things.

naw 17k in nyc is CRAZY

Why would he stay in nyc on his savings? The place is a dump.

i make about 30k? and my rent is 1700 a month, lol i dont even know how i survived thus far. Good thing is i work in hotel F&B, so i get to eat the leftovers all the time, so that really saves me money. But oh man, 30k is really not gonna work for long term

More clickbait

I hope his dreams come true because at this rate he is bound to go broke. I absolutely love that he is happy and not willing to compromise his happiness though, that’s extremely admirable!

This guy was on the KRplus show "Updating".

I think he’s awesome! Hold on to those dreams young man. I want you to win… and you will! The people without that level of passion will always criticize. Not everyone is cut out for the traditional 9-5 path. Even if you only do it for a year or two or ten… you did it! Enjoy acting. Enjoy NYC. Enjoy life and chasing your dreams.

Thank you for posting a realistic experience for someone living in NYC!

I want to add that doing a 9-5 corporate job is not a bad thing. Work by nature is not fun, thats why people are paid to work. If you enjoyed it, you would be paying to do the work. Being able to afford basic necessities is incredibly valuable. If you don't think so try for a week to live like the homeless, you will hate it. For me being able to afford the basic necessities, take a couple trips a year, afford a good gym membership etc. is extremely great. I also do live in NYC. Use a boring office job to fund the things you do want to do, thats how I see it.

This guy is a nightmare for Immigrant parents

17k/year is impressive for NYC....Following your dreams is worth it!!!

Many people stay at jobs that hate and never do anything fulfilling. I’m so proud of you for having the courage to live the life you want and especially for chasing your dreams 👏🏽👏🏽❤️

WTF is up with the tumbnail. He looks 2 feet tall.

He also has no children, so no other responsibilities

It's very difficult to do but still possible if you live a disciplined and minimal life. I share with room mates and pay $785, $17for phone, $135 for unlimited metro, $300 food including take out. $100 for toiletries etc . Even went out weekly for $80 Of course I actually have a higher income but lived this way for a few years to save for a home.

I like this guy!! He's not greedy or money obsessed like the others you usually have on here.

I live my life similarly and I will agree it is a much happier life, however, I’m getting to an age we’re I have to worry about long-term/ retirement family etc. So I gotta work my bum off now in order to make up for the time lost/money. I don’t regret it, yet at least.

The title of this video should read: How a guy blows 33K in savings to live a NYC/Brooklyn lifestyle.

HEY its the UPDATING guy!!!

As someone who lives in NYC $680 for groceries is ... actually too much for a single person. I also like to cook and spend about $40-50 a week on groceries so about $200 -300 a month. And I am a vegetarian. Even factoring take out I still wouldn't spend up to $680 a month. I'm having a hard time wrapping my head around the $2000 discount for the apartment and how the company is saving money by letting him live there. Unless he is only occupying it temporarily until they can get a market rate tenant?

Enjoyed watching this! It’s great to live in the now and allow for things to work itself out in the future!

Lives in Brooklyn,BMW has New Jersey plates. 😂

I wish him the best. I had a similar journey. Still do. Struggling through life shooting your shot isn’t the worst thing. The worst is not knowing what could’ve happened if you never tried. Not everyone can understand and that’s ok. It’s not your life.

He geniunely seems happy on this pursuit. Good for him

What about being a server or a bartender? Also, how about going out to LA?

I hope he makes it. I really do. But he seriously needs a heart-to-heart talk with Dave Ramsey.

Better be clickbait🤣

3:47 LinkedIn has a subscription?!?

You know what, he might be using his savings, but he is doing to to follow his dreams. I like the guy and I hope he lives his dream.

Who else saw this guy in UpDating?

"Unemployment benefits". So in other words, half his income is from UE.Where does he park the cars? Parking is expensive in NYC.

Wearing wool socks to bed will give you the best sleep you've experienced 😴

this lifestyle will stress me out, but respect it

Sounds like he living his best life. Based on his January budget, his yearly expenses are ~34k, but that doesn't include funding an emergency fund or health insurance. That's probably how it goes for struggling actors. I wish him the best in the future.

680 month on food?!?!

$680 for food? I only spend like $400.

This is inspiring. Best of luck bro

I really like this guy. I am moving to NY in a few weeks to pursue music and I relate a lot

I hope your dreams become reality 🙏🏽

i would love this story if the headline were true. he is not living on 17k, he spends at least 21k. BUT i can see your point. living minimally and trying to achieve your dreams. i vibe with this one

2:00 what is that vehicle..

How about both stressor. Working a job you hate and barely staying afloat. 0:31

he doesn't strike me as a delusional entitled artist that refuses to grow up. He's simply a dude going after his dreams. 👌🏾👌🏾

I appreciate the realism and wish more survival tips or how "Regular/Normal" ppl get by

My guy killed it on updating

He’s lucky to have parents. Get all the experiences in life you can.

Woo I thought this said $170,000 initially

Love this episode

CNBC should have titled this, living off of savings while making 17K a year. I get he wants to pursue acting, wouldn’t it be more prudent to work a job that pays for your living expenses, build emergency fund, savings, contribute to your retirement, and pay for acting classes. Then set a window in your day to focus on just acting related things so not only you take of your bills but your hobbies. I just don’t get how you’re happy blowing through your savings that took you years to save, living above your annual income, and about to be broke with no emergency fund. I guess I’m more risk adverse, I feel bad for your roommate who probably doesn’t know you’re about not be able to afford rent.

Funny how people can acknowledge how differently people will act when you drive a fancy car, but believe it's a lie that people will treat others differently based on their race.

Hope you make it!

Cool guy! Hopefully his acting career goes well!
Tho i have to wonder how big is NYC acting scene compared to LA?

Is this the same guy who appeared on the live dating show UpDating?

Team Max. Wishing you all the best

Keep going Max!

He has a Tobey Maguire vibe. Wanted to see his workout routine, first thing I noticed was that bubble butt, how fit he looked and then those couple shirtless pics. He seems to be making it work though, but I have substantially way more saved though/invested and I feel like I'm struggling. This is top of living with room mates and paying less than he does in rent. Maybe its just a mental state.

for anybody wondering, he doesn't afford it. That's it. It's that simple.

Good for you for following your dreams.

Title got me-but he’s cute and well-built so kept watching lol

While the title is misleading because of not factoring in savings in that number, this episode is really wholesome and inspiring. Not everyone can afford to live out their dreams and this episode is an example of the trade off we often make in life: work to live or live to work. Personally, I’m pursuing a competitive masters degree program and am working at a job that is physically and mentally taxing and doesn’t pay well. BUT, it gives me the experience I need to succeed in my future master’s program. In the meantime, I’m trying to have experiences that offset how hard my job can be day to day such as a weekly pottery class and traveling. But I’m basically living paycheck to paycheck this way in addition to meeting some of my basics needs/bills. Also looking to balance out what makes me happy, what experiences I’m looking for/need, and what can realistically pay the bills even if it’s kinda soul sucking

Best wishes on pursuing your dreams Max!

$17k in NYC is insane