Jonathan has been a Wealth Coaching® client for over a year and in that time has doubled his net worth! In this latest edition of our Client Spotlight series, we learn how being a planner led Jonathan to Invibed, his tips for balancing expensive taste, and how he manages a full-time job and side hustle successfully.
Name: Jonathan Landau
Client Since: March 2017
Location: New York
Full-Time Gig: Senior Account Executive at OMG
Side Hustle: Marketing and Operations Consulting
Hi Jonathan! To get a little background on you, can you walk us through your career path from college graduation to now?
I went to Muhlenberg College in Allentown, PA. I started out at OMG as an intern the summer going into junior year of college and winter breaks after. I was very fortunate that I found a place that I just ‘clicked’ with and have been there since. I started out as a project coordinator, running reports, doing research, and assisting on accounts. I was a fast learner, picked things up quickly, and got some accounts that led to us being the preferred online marketing vendor for a national developer.
When you started Wealth Coaching®, you had a great job and a thriving side hustle. What made you decide to sign up?
A second set of eyes is always a good thing. I wanted to make sure I was on the path financially to get to where I want to be in life. I’m the planning type.
You've said you have expensive taste. What are some of your biggest splurges?
I really am a sucker for high-quality stuff. One of my favorite finance adages is “One $20 umbrella is worth more than four $5 umbrellas.”
I go for higher quality technology, fashion, and vacations. Nike made some legit “Back to the future” self-lacing sneakers. There were only 5,000 of the style I have made!!! They were $925 after tax. I went on a cruise in January to the Caribbean, that at the end of the day cost $4,500. I also have to have the newest iPhone, but I lease it, so it's significantly more cost effective for me to always have the newest one.
Wealth Coaching Client® Jonathan Landau
Your progress in the past year has been amazing. What has had the most impact on your financial success?
Well, I did start saving more this year for my short-term goals. That helped for sure, but a lot of the progress I made was due to a strong financial market and investments that paid off, from my 401K and other stocks.
A lot of people don't think you can be financially responsible and still live life fabulously. How have you found this balance?
You have to know where you will not compromise on quality or cost, and where you are comfortable cutting corners. Living fabulously is really more a mindset than the things you have.
What does your typical day look like?
Work Hard, Play Hard, Live Hard.
111 Murray in Tribeca, one of Jonathan's marketing projects through OMG.
A side hustle can be a huge commitment. What was your motivation for starting one and why have you stuck with it for so long?
It really boils down to the fact that I like helping people and I have a skill set that in today’s world is pretty universally needed with the advent of the internet. I actually am very selective about side hustle projects that I take on. I really need to believe in whatever I am helping to sell – so I can get vested in the work that I am doing. Also, since my side hustle and my career (marketing) are the same, it’s really made things a lot easier.
As someone who freelanced myself, I know those first few clients can be hard to come by. How did you kickstart your marketing business?
Friends and family were my initial set of clients, in addition to some pro bono work I did. There are so many ways to waste money doing marketing. It’s a complex, interdisciplinary field with a lot of moving pieces. I got one client by emailing them after I saw an ad of theirs that really misrepresented their product. My email chain started out with clarification on their product and ended with me running their Facebook ads for a few months.
Do you have any advice to other creatives considering a side hustle?
Do what you love. Don’t overextend yourself, say no sometimes. Remember it’s a side hustle, not your main gig. Set limits and make sure you have time for you.
Hub in Downtown Brooklyn, another one of Jonathan's marketing projects at OMG.
Looking back at the last year, what was your biggest accomplishment?
Learning how to gym and committing to it!
You are killing it with your career and finances. What goals do you hope to achieve this year?
I need to go on more dates and find a nice boyfriend. Know any cute single guys in NYC? 😛