ilmscore | Prediction Details
"also I just realized that I never changed one to two but now let's move on to number three the third money allowed that I want to go over and I actually remember to change the number this time is that freedom comes with wealth freedom is not in riches the best definition that I have of this is that riches are measured in what you can buy and wealth is measured in time if you have a million dollars then you're rich you can go out and buy yourself a fancy car you can buy a nice home you can go on some fancy applications but eventually you're going to run out of this million dollars and you're no longer going to be rich you're going to have a whole bunch of nice things but you have no money left and now you're no longer Rich wealth is different wealth is measured in time and wealth is when your assets are greater than your liabilities and what this means now is let's assume that your expenses every single month your liabilities are three thousand dollars a month but every single month you get a check in the mail from your assets you get a check from your Investments and you check every single month is thirty five hundred dollars now you are free now you are wealthy because every single month your assets are paying for your liabilities and you have time to do whatever it is that you want you're not going to be tied down to a job that you hate you're not going to be forced to do things that you don't want to do because you're already wealthy you got your time now you can use your money however you want if you have a million dollars and you're spending a hundred thousand dollars a month well not a million dollars only is worth 10 months of wealth because after this million dollars is spent now you have nothing you're not wealthy you might have a whole bunch of nice things that make you look rich but in reality you're broke wealth comes with time that's why Freedom comes with wealth and the goal to be financially free the goal should be wealth not riches and the way that you do that is by working here to buy more assets you can see how everything is kind of building on top of one another right these assets are the things that we've been talking about this could be buying rental properties this could be investing your money into the stock market this could be investing your money into cryptocurrency this could mean investing your money into models like gold although I don't really consider gold an investment to me gold is just money it's physical money real money that has value that you can measure through the time effort and labor that it takes to mine gold I own physical gold and for me that's just money but these Investments are assets that you now want to own that way you have this sort of wealth Freedom see what every wealthy person does is any time they get paid anytime they get money the first question that they ask is how can they pay themselves how can they invest as much money as possible this might mean buying rental properties this might be investing money in stocks whatever it is is and then after they invest their money then they're going to see how do I spend whatever's left what should I spend my money on because what wealthy people are doing is they're living off of their assets their assets are out making that money and that's the money that they live off of I don't work for money I don't work to get paid that way I have money to spend I work to buy assets and then I live off of the money that my assets are paying me and so this is the mindset that you have to work towards it's not something that happens overnight this is something happens over years if not a few decades but this is something that you have to be striving towards and the more aggressive that you can be the faster it will happen if you're investing in physical real estate well now you own a property that's going to be paying you with cash flow the downfall with real estate is it takes a lot of capital for you to go out and start investing in real estate if you're investing in real estate well now you can go out and buy a property that's going to be paying you with cash flow the problem with that is going out and buying a property isn't very easy and it takes a lot of work and it also takes a lot of capital it takes a lot of cash to go out and buy a house or an apartment complex you can also invest your money in the stock market Market the stock market works because it's very accessible you can invest your money into ETFs you can invest your money into individual companies that you believe in that you think you're innovating for the future now again just because it's accessible doesn't mean it's easy but it provides opportunity for you to now invest your money and build real wealth and if I'm just focusing in on the stock market you can choose how you can get paid you can get paid through this type of cash flow if you're investing in dividend paying companies where you can invest in individual companies or ETFs that way you can get long-term growth again it just depends on what your goal is which is why you need to be financially educated that way you can invest your money the right way or you can look at investing your money into cryptocurrency again this is why education is so important a lot of people still don't understand the value of cryptocurrency because there's a lot more to it than just a physical currency there's a whole technology behind it which is really gaining a lot of popularity now and there are ways for you to earn interest on your cryptocurrency and you'll earn more interest here than you will by keeping your money in the bank account but you have to be educated that way you understand the risks that we understand what you're doing and that we we understand what it is that you're investing in"
By Minority Mindset | October 1, 2023 | Pending
From video
The Secret To Actually Earning Passive Income | Jaspreet Singh 01:26:08 - 01:26:34
Interpreted Prediction
Cryptocurrency offers opportunities to earn interest, potentially higher than traditional bank accounts. However, it is crucial to obtain proper education to understand the risks and technology involved before investing.

Prediction Details

Topic
Crypto for Earning Interest

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