Terzel Ron didn't have much money growing up in a data-test=”Pullquote”>The most important lesson that I've learned is "save money and money will save you."Terzel Ron
Today, Ron is doing just that. Now living in Los Angeles, he earns around $150,000 a year between his two video production jobs and invests nearly half of what he makes.
"I started to realize that money was the way to always ensure stability in life, and so I never really wanted to spend it. Always wanted to save it and, of course, grow it," says Ron.
Pursuing education
Eager to improve his earning prospects, Ron says he "got serious" about academic achievement in high school. Dead-set>Making $150,000 in Los Angeles
Ron stayed at ViacomCBS until last year, when he was recruited by a large television network and moved to Los Angeles with his girlfriend to work as an associate producer. He now makes just under $110,000 per year from that job, as well as about $40,000 per year from a second, part-time job as a production manager for a video chat app, which pays by the hour.
Even though he's making more money than ever before and is currently financially secure, Ron is still hustling. He works seven days a week between both of his jobs, typically from 9 a.m. until about 11 p.m.>How he spends his money
Here's a look at how Ron spent his money in November 2021.
Elham Ataeiazar | CNBC Make It
- Savings and investments: $5,000 in stocks, cash and cryptocurrencies
- Rent: $1,650 for half of the rent, which is split with his girlfriend
- Transportation: $589 for gas, financing and car washing expenses
- Insurance: $501 for life, auto, home and dental. He has health insurance through his mom's plan
- Discretionary: $435 for travel, haircuts,>Looking ahead
Ron plans to stay in the TV world long-term, eventually running his own business. "I see myself as a successful television host and producer, creating television shows, hosting those shows and providing opportunities for other people through my own production company," he says. "That's really important to me."
As for his current investing goals, Ron hopes to buy his first property sometime this year: "I hate renting because I feel like I'm just shoveling money away to somebody else. That's why I definitely want to get a house this year and then own some investment property, down the line."
Terzel Ron near his home in Los Angeles.CNBC Make It
He also hopes to become a millionaire by the time he's 30. "It's not necessarily a hard deadline — it's just a mantra that I started at 15 and told myself while I was growing up," he says.
"However, it does affect the way that I save. I invest most of what I make and try to forget the amount of money in my accounts. Jobs come and go, and when they go, the only thing left to show for it is the amount of money you have saved and invested from it."
