Other People's Money: Chef Hosea Rosenberg
Age: 35
Location: Boulder, Colorado
Why we care: Like a lot of chefs, Rosenberg started as a dishwasher. Unlike a lot of chefs, he went on to win Top Chef, Season 5, a victory which comes with semi-fame and moderate fortune. And he won't rest until his food is on a supermarket shelf in your neighborhood.
Bundle: You actually graduated college with a BS in Engineering Physics.
Hosea Rosenberg: Being an engineer would have been a safer and more secure financial decision. It came down to personal happiness and satisfaction.
Even when that meant working as a dishwasher making minimum-wage. You must make more than that now. Do you spend your money differently now?
For the first time since I was 20 I am completely debt free. And I can afford a lot more these days. It's nice to know I can purchase a nice dinner, a flight and hotel, or some clothes without having to put everything on a credit card.
Do you think you make enough money?
Not yet. Right now I'm involved in a number of new projects. I will either become very successful or end up back to square one. I'm entering a period in my life where I want to work for myself, not other people.
What's your definition of "very successful?" How much would it take?
I would like to make at least $1 million a year to feel like I'm securing a good future. I think at that point I wouldn't have to worry about finances anymore.
You enjoy traveling; how do you pay for trips?
I try to pick at least one big trip every year and put money aside for it. The most expensive meal I've had was at Alinea restaurant in Chicago; dinner for two was about $900.
What food item do people spend way too much money on?
"Signature" items in the grocery store. When they're out to eat, I'm shocked how much people spend on bottled water.
When you're not in the kitchen you gamble, right? Where do you earn more cash?
On a good day, I can earn as much at the Bellagio (in Las Vegas) as I make in a month as a chef. The most I've made in a night playing poker is $6,000. The most I've lost is $1,200.
Is managing money like cooking?
Yes: It needs to be worth your time and have a little element of risk, but with huge rewards.
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