Living On 500k-A-Year at Age 28, In Seattle | Millennial Money

Sometimes, I feel a bit embarrassed by my finances. Despite averaging $500,000 a year for the past four years, I don’t always feel like I have it all under control. I’ve never had a budget, and every time I log into my bank account, I feel anxious. I know I need to do a better job of managing my money. Hi, I’m Monica Church, and welcome to Millennial Money.

I have three main streams of income: my YouTube channel, my real estate agent business, and a new venture in coaching. On average, I make $250,000 a year from YouTube and another $250,000 as a real estate agent. The typical homes I work with are priced around $800,000. But I’m open to helping anyone at any price point. My commission checks can range from $10,000 to $36,000. I’ve recently started coaching, and in my first month, I made $10,000. While I know focusing on one career might make sense, I enjoy having multiple streams of income and pursuing things I’m passionate about.

On average, my pre-tax income is $40,000 a month, and after taxes, I take home about $29,000. My monthly expenses total around $8,000, with my mortgage being the biggest chunk at $3,800. However, I’ve never paid the full amount since I’ve always had roommates or, now, my boyfriend, who contributes $1,500 in rent while I cover the rest. Soon, my expenses will increase as I’m in contract for a house with my boyfriend in Palm Springs, California. The mortgage on that property will be $6,100 a month, meaning I’ll be responsible for $5,000 across both homes.

I’m planning to split my time between Seattle and California, living six months in each location. I feel incredibly fortunate to be able to do this at 28, knowing many people work their whole lives to achieve this lifestyle. I also own a home in Palm Springs with my sister, which we rent out as an Airbnb, although it doesn’t quite break even. I end up paying about $500 a month to cover the shortfall.

When it comes to my spending, I don’t splurge on clothes or makeup. I’ll refresh my wardrobe with a shopping trip once a quarter, spending around $1,500 each time. As for self-care, I’m pretty low-maintenance. I get my hair done twice a year, thread my eyebrows every two months for $12, and that’s about it.

My health insurance is $13 a month for a catastrophic plan, meaning if something bad happens, I’ll need to cover $16,000 out of pocket. Thankfully, I have enough saved in my emergency fund to handle that. Between me and my boyfriend, we have three dogs, two of which are my responsibility. They cost me around $150 to $200 a month, mainly for grooming.

I spend about $150 a month on subscriptions, most of which are for business. My most expensive one is Storyblocks, a stock footage service that costs $70 a month. Recently, I realized I was paying $5,000 a year for subscriptions I had forgotten about, so I canceled them all by reporting my credit card lost to start fresh.

On food, I probably spend about $1,300 a month. My boyfriend and I like to go out once a week for a nice meal, and the bill often comes to around $200. I don’t dislike cooking, but I don’t enjoy the time it takes. My guilty pleasure is wine. I have wine subscriptions where the bottles cost about $50 each, and although I don’t drink them daily, I do enjoy building my collection.

One of my favorite hobbies is golf, but it’s expensive. When I’m in Palm Springs, I try to play once or twice a week, and each round costs about $100. Two years ago, I bought my dream car, a Porsche Macan GTS with red leather seats. It cost me $70,000, and I put down $25,000, leaving me with a $655 monthly payment and $159 for insurance. I’m thinking of selling it soon because I also own a vintage Airstream trailer, which I bought in 2020 and am having professionally renovated for $110,000.

Despite my high income, I know I spend a lot of money. Recently, I bought a Sleep Number Mattress for $6,000, but I ended up returning it. On the other hand, I spent $6,000 on a first-class flight from Atlanta to Cape Town, and it was completely worth it. Even small purchases like my daily planner, which helps keep me grounded, make a big difference in my day-to-day life.

I’m often asked if I’m jealous of my twin sister Shelby, who made double what I did last year. While I was a bit jealous initially, I remind myself that I have everything I could want, and I’m incredibly fortunate.

I’ve learned over the years that financial success is more than just about making a lot of money. It’s about finding balance and understanding what truly makes you happy. While I’ve been able to build wealth through multiple streams of income, I’ve also come to realize that there are areas where I need to improve, like budgeting and managing my expenses better. Despite the anxiety I feel when logging into my bank account, I know that it’s part of the journey towards getting more financially organized.

One thing I’m grateful for is the opportunity to live a life that allows me flexibility and independence. I love that I can divide my time between Seattle and Palm Springs, both cities that I enjoy for different reasons. I know many people spend years working towards this kind of lifestyle, and I pinch myself every day to remind myself not to take it for granted.

However, managing multiple properties, running different businesses, and juggling various responsibilities can be overwhelming at times. I’m always looking for ways to streamline my life, whether that’s by cutting down on unnecessary subscriptions or thinking about future investments. For instance, while renovating the Airstream trailer may not have been the most financially sound decision, I’m excited about the potential for it to become a fun project or even a rental income stream down the line. I’m fully aware that I make big purchases and sometimes don’t always weigh out the pros and cons, but I’m learning.

Speaking of purchases, I’ve been thinking a lot about how much value I place on certain items. For example, I found the $6,000 I spent on a first-class flight to be completely worth it, while the $6,000 on a Sleep Number mattress wasn’t, and I ended up returning it. These experiences remind me that sometimes spending money on experiences or things that bring true value and comfort is justifiable, while other purchases may need more thoughtful consideration.

At the end of the day, it’s all about perspective. I’ve come to understand that no matter how much money you make, it’s easy to fall into the trap of wanting more. There’s always a higher income to chase, a nicer car to drive, or a bigger house to buy. But for me, staying grounded has been key. My daily planner, which encourages me to reflect on what I’m grateful for each day, has been a simple yet powerful tool in helping me maintain this mindset. It reminds me to appreciate what I have rather than always focusing on what’s next.

Having a twin sister who’s also successful in her own right has added a unique dynamic to my life. People often ask if I’m jealous that Shelby made double my income last year. At first, there was a bit of envy, but that quickly faded. I’ve come to realize that I have everything I could possibly want. It’s hard to be envious when you’re living a life you love and are fortunate enough to have multiple streams of income, a beautiful home, and the freedom to pursue your passions.

In the end, I think that’s what it’s all about: finding a balance between financial success, personal fulfillment, and gratitude. I’m still learning how to manage my finances better, but I’m proud of the life I’ve built, the risks I’ve taken, and the opportunities I’ve created for myself. There’s always room for improvement, but I’m on a path that I’m excited about, and that’s what matters most.

As I reflect on my journey, I realize that financial independence and personal fulfillment are not just about the numbers in my bank account but also about how I choose to live my life. My path hasn’t been traditional, and I’ve taken risks that some might question, but they’ve led me to where I am today, and I’m proud of that. I know there are areas where I need to improve, like staying on top of my budgeting and perhaps narrowing my focus in my career, but I wouldn’t trade the multiple streams of income and the flexibility they provide for anything.

Real estate has been a major part of my financial success, and I feel fortunate to have built a business in an industry that allows me to meet people, help them find their dream homes, and make a significant income in the process. But equally important has been my work on YouTube. It’s amazing to think that sharing my life and experiences with an audience has grown into a $250,000-a-year income stream. Coaching, my newest venture, has already started to take off, and while it’s still in its early stages, I’m excited to see where it goes.

One thing I’ve learned from juggling these different careers is the importance of pursuing what excites you. I could easily focus on one thing and perhaps maximize my earnings in that area, but I thrive on variety and the challenges that come with it. Whether it’s creating content, selling homes, or mentoring others, I’ve found that having multiple passions keeps me engaged and motivated.

When it comes to managing my expenses, I know I have some habits I need to work on, but I also believe in spending money on what makes life enjoyable. For example, I love dining out with my boyfriend and enjoying good food and wine. It’s something we do to treat ourselves, and while $200 meals aren’t cheap, I value those experiences. On the other hand, I’m careful not to overspend on things I don’t need, like clothes and makeup, and I’m always on the lookout for ways to cut unnecessary costs, as I did with my subscriptions.

At the same time, I’ve made a few purchases that others might view as indulgent, like my Porsche Macan GTS or the Airstream trailer. The car was a dream purchase, and I’ve enjoyed every minute of driving it, but I know it’s time to let it go as I need a vehicle that can pull my trailer. The Airstream has been a labor of love, and while it’s not the best financial investment, I believe it will bring joy and perhaps even a return if I choose to rent it out. Some things in life aren’t just about making money—they’re about pursuing projects that make you happy.

I’ve also learned the importance of having an emergency fund and being prepared for unexpected expenses, whether for myself or my pets. Owning three dogs comes with its own set of financial responsibilities, but I wouldn’t have it any other way. The same goes for health care. My catastrophic insurance plan isn’t ideal, but I’ve set aside enough in my emergency fund to cover any major medical expenses if they arise.

As I move forward, I’m focused on finding balance in both my financial life and my personal goals. I want to continue growing my income, but not at the expense of my happiness or peace of mind. I’ve realized that no matter how much money I make, there’s always the temptation to want more. But through gratitude, self-reflection, and a strong support system, I’ve learned to appreciate what I have while striving for personal and professional growth.

Life at 28 has already brought me more than I could have imagined, and I’m excited to see what the future holds. I know there will be challenges and lessons ahead, but with the tools and experiences I’ve gained, I feel ready to tackle whatever comes my way. Whether it’s through real estate, YouTube, coaching, or new ventures that I haven’t even dreamed of yet, I’m committed to building a life that aligns with my passions and values.

At the end of the day, financial freedom means having the ability to make choices that align with who you are and what you want out of life. For me, that means continuing to explore new opportunities, being mindful of my spending, and most importantly, staying grounded in gratitude. It’s easy to get caught up in the hustle for more, but I’ve learned that true wealth is about finding joy in the journey and being content with what you’ve built along the way.