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BiggerPockets Money Podcast

489: Humphrey Yang: How to Save $100K, Quit Your Job, and Build a Business

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.62.9K Ratings

🗓️ 9 January 2024

⏱️ 48 minutes

🧾️ Download transcript

Summary

You probably already know who Humphrey Yang is, and even if you don’t, there’s a good chance you’ve seen one of his YouTube, TikTok, or Instagram videos. A few years ago, Humphrey’s internet presence was almost non-existent. He was living off savings, trying to find a business that would hit traction, until one day, he started posting financial content online. Within thirty days, he had a six-figure follower count. But this wasn’t by luck or accident; it was by design. Humphrey knew that to start any successful business, it would take testing—a lot of testing. So, he set out to test content that not many other people were making, showing anyone and everyone on the internet what not to buy, the best ways to invest, and how they, too, could become wealthy, or at least not end up broke. But Humphrey was ONLY able to do this after saving up a significant amount of money from past jobs, going extremely frugal, and realizing that he needed to do whatever it took to work for himself. And if you’re struggling to find your path and feel like being an entrepreneur is what you’re meant to do, Humphrey can help! In this episode, he’ll show you EXACTLY how he “tested” his way to wealth, made financial and entrepreneurial “hypotheses,” and grew an online following to over a million people in just a few years. In This Episode We Cover The benefits of extreme frugality and how to save six figures on an average salary Starting your own business and how to “test" whether it’ll stick Going viral online in only a month and how to find your niche with customers/viewers Why you MUST fail at multiple businesses before you find success Using your “unfair” advantage to get ahead in whatever industry you’re in And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Grab Your Copy of “Set for Life” Starting Successful Businesses with NO Industry Experience 10 Tips For Leaving Your 9-5 and Adjusting to Life as an Entrepreneur The #1 Wealth Killer No One Talks About Click here to check the full show notes: https://www.biggerpockets.com/blog/money-489 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Today's show is about a 36 year old online entrepreneur who started his entrepreneurial journey

0:05.3

after amassing $150,000 in savings in his 20s, working in the gaming industry and as a financial advisor.

0:13.0

You are going to learn the power of what a baseline level of frugality,

0:17.0

coupled with using that frugality to empower you to take calculated risks,

0:21.0

also known as testing hypotheses, what that can do to

0:24.1

turbocharge your success and allow you to build a business that reaches

0:27.3

millions of people. And while you might not be able to come the next YouTube star,

0:31.2

you can certainly replicate our guest Humphrey's formula for success, and we hope that you come out of this with some ideas for hypotheses that you can and will test in 2024.

0:42.0

Hello, our dear listeners, and welcome to the BiggerPockets Money Podcast,

0:46.0

where we interview Humphrey Yang and talk about his path

0:49.7

to over a million YouTube subscribers and a successful content business.

0:54.4

Hello, hello, hello, my name is Mindy Jensen and with me as always is my

0:58.4

makes money both on and off the internet co-host Scott Trinch.

1:02.0

Thanks to, Thanks Mindy.

1:03.0

It's great to be here with my always has a worldwide web of opportunities

1:07.6

to make money.

1:08.4

Personal Finance co-host Mindy Jensen.

1:10.2

Scott and I are here to make financial independence less scary.

1:14.0

Less just for somebody else.

1:15.5

To introduce you to every money story,

1:17.6

because we truly believe that financial freedom is attainable for everyone,

1:21.5

no matter when or where you're starting.

...

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