According to Mark Duplass, Eating Ramen and Buying Stocks are a MUST when Trying to Build a Fortune
If there’s something incredibly inspiring about the renowned filmmaker brothers Mark and Jay Duplass, it is their ability to produce low-budget movies and films without compromising its message and quality. In fact, Mark revealed they started their movie career at only a three dollar budget to produce a film.
The Low-budget Move
Although Mark and Jay have now established their credibility and reputation in the movie industry and they’re working with Amazon Prime, HBO, Paramount, and Netflix, Mark revealed they preferred making inexpensive movies rather than spending unnecessary funds more than the film deserves.
He told the movie industry that he was going to continue making inexpensive films for the studio or projects they currently have. Since the quality hadn’t been compromised, the studios were still willing to pay them what they normally spend to produce a film. This financial savvy move enabled the brothers not only to become successful filmmakers but also be successful in life.
Living the Minimalist Life
Mark revealed they inherited some smart money habits from their father while growing up in New Orleans, Louisiana, in the 1980s. He said their parents were the only ones who went to college in their own respective families. Their family lived a life that was humble.
They didn’t waste their money on buying unnecessary things. However, Mark remembered how their father was very savvy and fiscally conservative with his money. He’d save every little cent if he could and they later adopted his minimalist traits. Ever since then, he and his brother have been very careful about using their money, and they save it whenever they have the chance.
Money Advice from Mark
Buy Stocks As Much as You Can.
Mark debunks the myth of having an expendable income to enter the stock market. He revealed you didn’t have to be rich to start investing. Instead, you enter the stock market in the first place to get rich. He revealed how he started investing in Apple and Netflix in the early 2000s. Since he didn’t have enough money back then, he settled with buying 1-2 shares at a time.
During his early 20s, Mark moved into Austin, Texas, and he was already making $400 a week as a film editor.
Aside from that, he’s living the life of an independent filmmaker and musician. Since he’s still living on his parents’ insurance, he only paid around $280 a month for his rent and didn’t have big expenses back then. However, he would eat as cheaply as possible so that he’ll have more money to invest in the stock market. Before he knew it, his efforts paid off big as Apple, Google, Yahoo, and other tech-giants’ stock value rose.
It was in 2005 when Mark, his brother, and his father decided to invest in Netflix. He remembered how Netflix’ shares only priced at $20 per piece. Although they only brought worth $5,000 of stocks, it was a great move for them to start investing. They saw Netflix’ potential in making and distributing content. A few years later, they started making money (aside from their earnings from the stock market) when they sold their script for an astounding $100,000.
Don’t Spend Money on Things With Depreciating Value
Despite Mark and Jay’s massive success in producing films for giant companies, Mark revealed they are still obsessively conscious about money and they’re very careful on not spending their funds on anything that aren’t a good investment.
Mark cited how buying an expensive car isn’t a good investment since its value quickly depreciates over time. So instead of buying a luxury car, he settles on cheaper cars as long as it can navigate well. He even confessed how he spent an extra hour on his computer trying to search and book a flight that cost $240 instead of $280. He encourages buying a house though since its value never depreciates, so it can be a good investment.
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