BiggerPockets Money Podcast

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

Jan 9, 2024

Guest Humphrey Yang, known for his financial content on social media, shares his journey to success through extreme frugality and calculated risks. He discusses the benefits of frugality, starting a business, going viral online, and making money through YouTube. Listeners are encouraged to test their own hypotheses in 2024.

48:23

Episode guests

Humphrey Yang

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Maintaining a baseline level of frugality is crucial for saving six figures and creating financial stability on an average salary.

Testing different business ideas and hypotheses allows for discovering what will stick and ultimately lead to success.

Consistency and a long-term mindset are essential for building a successful online presence and growing an audience.

Deep dives

Importance of frugality and taking calculated risks

The podcast episode discusses the significance of maintaining a baseline level of frugality and using it to empower oneself to take calculated risks. This approach, often referred to as testing hypotheses, can turbocharge one's success and help in building a business that reaches millions of people.

Introduction

2min

Frugal Spending Habits and Wealth Accumulation

6min

Frugality Mindset and Opportunities

5min

From Financial Advisor to Entrepreneur

19min

Making Moves with TurboTax, Hims, and Vikasa

3min

Creating a Strong Base for Making Money Online

11min

Wrapping Up the Episode and Promoting the 2024 State of Real Estate Investing Report

2min

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