Podcast Summary: Networth and Chill with Your Rich BFF Episode: How Student Loans Nearly Ruined Comedian Joel Kim Booster's Life! Host: Vivian Tu (“Your Rich BFF”)
Guest: Joel Kim Booster (Comedian, Writer, Actor, Producer – Fire Island, Lute, Big Mouth)
Release Date: December 3, 2025

Episode Overview

In this insightful and candid episode, Vivian Tu sits down with comedian Joel Kim Booster for a deep, often funny, and sometimes sobering conversation about money. The discussion centers on Joel's struggles with student loans, the unpredictable economics of a creative career, and the realities of financial independence. Joel pulls back the curtain on life as a multi-hyphenate creative, the lessons he’s learned about debt, and how authenticity has shaped both his comedy and his finances. The episode is filled with actionable advice for young people, honest reflections on privilege, and the importance of not letting money—or the lack of it—define your sense of possibility.

Key Discussion Points & Insights

1. Early Life, Money, and Family Influences

[05:22 – 08:04]

• Joel grew up in a lower-class, conservative Christian household in rural Illinois.
• His parents attempted to instill a “hatred of taxes” by taxing their kids’ allowances, but this inadvertently taught Joel about the value of shared resources:
  • “Even at a young age, I was like...I get slightly less money every week, but eventually we’ll get to go to Six Flags, right?” (Joel, 06:40)
• Childhood involved creative financial solutions (joint birthday gifts with siblings, pooling resources).

2. Finding Comedy: Necessity and Defense

[08:12 – 10:57]

• Comedy became both a defense mechanism against bullying and a creative outlet.
• Coming out as gay at 16 pushed Joel to be “big and funny” to deflect negative attention.
• Standup was never the career plan; it began as a hobby while working full-time and grew into his main focus.
• “I never thought it would turn into a career. It was just for me...I didn’t put any pressure on myself.” (Joel, 09:45)

3. The Harsh Economics of Comedy

[11:03 – 15:54]

• Early comedy gigs rarely pay—drink tickets at best. Even “headlining” outside NYC clubs initially meant low, sporadic checks.
• Real money comes only after breaking out:
  • Headlining club weekends: $10k–$20k, with bonuses for selling out, but these are infrequent for most comics.
  • Indie venues can sometimes be more lucrative for the amount of effort required versus club structures.
• “I was spending more in student loan payments than I was in rent for over 10 years.” (Joel, 14:01)

4. Student Loans: A Near Ruinous Experience

[16:14 – 22:04]

• Joel took on high-five-figure (eventually ballooning over $80k+) debt for a theater degree from an unknown college.
• Adult mentors normalized lifelong loans:
  • “Every other adult in my life was telling me, just take out loans...Having loans for forever is normal.” (Joel, 18:25)
• A college advisor told him flat out: “What were you thinking?” (Joel, 16:59)
• Joel was only able to pay off his loans after landing a canceled NBC sitcom, calling it a “career lottery.” He admits most in his situation would never escape the debt trap.

5. Joel’s Student Loan Advice

[18:45 – 21:04]

• Joel cautions against taking out loans for creative degrees unless you have parental financial support or a prestigious school connection:
  • “I can’t in good conscience tell anyone to do what I did.” (Joel, 19:23)
  • Advises moving to a major city, getting a job, and learning through experience.

6. Living with Unpredictable Income

[22:04 – 23:53]

• Budgeting in the early years: “Always bills first.” Savings were rare, and budgeting was not regimented—after bills, it was just survival.
• Today, Joel is more stable, but notes how unpredictable creative work remains. Income spikes during “big years” (movie, special, series) but can dry up in lean times.

7. Creative Revenue Streams

[25:09 – 27:46]

• Joel’s main income now comes from writing and acting (e.g., TV scripts, shows like Lute and Search Party).
• Standup, though emotionally fulfilling, is the least financially rewarding.
• Being a “multi-hyphenate” (writer, actor, producer) provides stability—multiple checks for single projects (especially for Fire Island).
  • “I got my fee as an actor, I got my fee as an executive producer, I got my fee as a writer...This is the house that Fire Island built.” (Joel, 32:34–33:37)

8. Authenticity vs. “Broad Appeal” in Art and Commerce

[34:47 – 38:52]

• Joel resisted pressure to “water down” his material.
• Studio notes led to more voiceover/explaining, but Fire Island’s impact came from authenticity:
  • “Even for me, it’s much more interesting to watch a movie about a group I am not a part of when it feels more authentic ... at least I know I’m seeing something authentic, you know?” (Joel, 35:38)
• In standup, mentors advised against talking about gay topics, but Joel ignored that advice: “You have to make your art...they can sense the fake.” (Joel, 38:33)

9. Financial Realities of a Netflix Special

[39:17 – 41:56]

• Joel reveals that, for non-world-famous comics, a Netflix special is “less than people think” financially. The money is good but not life-changing; how much you keep depends on production costs.
• “It was not life changing money...Had it been a lighter year, it would have been more significant.” (Joel, 41:46)

10. Life During the Hollywood Strikes

[41:56 – 43:53]

• Industry shutdowns highlighted the fragility of even successful careers: “I am so lucky that I was a multi-hyphenate during that period.”
• Standup provided vital income during the strike, unlike many peers who struggled. Joel expresses solidarity and support for his community.

11. Rapid-Fire Money Questions

[46:02 – 56:15]

• Funniest money story: Planning a wedding and putting in a pool in the same year as an industry downturn (46:05).
• Best money spent: Paying off student loans, but also an engagement ring for his partner (mid-five figures) (47:12, 47:21).
• Worst money spent: PlayStation Portal—barely used (47:40).
• Dream splurge: Owning a house on Fire Island to share with queer people who can’t afford it (49:19). “I would love to...give weeks away for free to people who would otherwise not be able to make it out.” (Joel, 49:24)
• Richest friend/friend with best financial sense: Bowen Yang (52:11)
• Weirdest way money was made: Standup at a bank’s corporate retreat, riffing on ketamine for finance people (54:20)
• General advice:
  • “Billionaires should not exist. The wealth gap is widening...I would encourage young people to...be a little bit more generous and remember how impermanent [money] is. And don’t take out student loans.” (Joel, 54:33; 56:15)
  • Jokes about friends with generational wealth being stingier with Venmo than those from less money (55:41).

Notable Quotes & Memorable Moments (with Timestamps)

• “Every other adult in my life was telling me, just take out loans...Having loans for forever is normal.” – Joel Kim Booster (18:25)
• “I was spending more in student loan payments than I was in rent for over 10 years.” – Joel (14:01)
• “I wish that I had someone in my life...not like every other adult was telling me, ‘just take out loans.’ It was bad advice.” – Joel (18:46)
• “I can’t in good conscience tell anyone to do what I did...Move to New York, get a job, and start taking acting class.” – Joel (19:23)
• “I paid off my student loans.” – Joel, on the best gift to himself (16:27)
• “You have to make your art...they can sense the fake.” – Joel (38:33)
• “Billionaires should not exist. The wealth gap is widening...and I don’t see any solution that isn’t quite radical.” – Joel (54:33)
• “[Fire Island] is the house that Fire Island built. I never thought I would own a house.” – Joel (33:37)

Timestamps for Key Segments

• Joel’s Family, Upbringing, and Early Money Lessons: 05:22–08:04
• Comedy as Defense and Career Path: 08:12–10:57
• Comedy Economics & Gig Structure: 11:03–15:54
• Student Loan Trauma & Advice: 16:14–22:04
• Unpredictable Income & Budgeting: 22:04–23:53
• Revenue Streams (Writing, Acting, Standup): 25:09–27:46
• Fire Island, Creating Your Own Opportunities: 32:32–33:37
• Authenticity vs. Broad Appeal in Entertainment: 34:47–38:52
• Netflix Standup Special Money Reality: 39:17–41:56
• Impact of Hollywood Strikes: 41:56–43:53
• Rapid-Fire Questions (Money Stories, Regrets, Splurges): 46:02–56:15
• Big Advice for Young People & Final Thoughts: 54:33–56:15

Final Takeaways

Joel Kim Booster’s experience is a powerful illustration of how today’s creative careers often mean juggling instability, multiple hustles, and enormous up-front risk—especially for those without safety nets. His path from near-crippling student loans to financial independence was unpredictable, reliant on both hard work and luck, and could easily have ended quite differently. He’s transparent that debt for a non-prestigious creative degree is a poor bet for most; encourages living generously and authentically; and, despite achieving more conventional financial success, hasn’t lost sight of the importance of “paying forward” his advantages and embracing abundance over scarcity.

Host Vivian Tu closes with:
“Live in abundance. Don’t take out student loans. And that’s the advice.” (56:15)

Where to Find Joel Kim Booster:

• Lute Season 3 now available
• Instagram: @hatejoekim
• Podcast: “Bad Dates” (Mondays, Smartless Media Network)

For listeners:
This episode is essential listening for anyone considering student debt, pursuing creative careers, or curious about the behind-the-scenes finances of comedic and artistic success.