ilmscore | The #1 Thing Every Rich Person Knows (That 98% Don’t)

The #1 Thing Every Rich Person Knows (That 98% Don’t)

Published: 2025-12-14
Status: Available | Analyzed

Predictions from this Video

Total: 7
Correct: 5
Incorrect: 1
Pending: 1
Unrated: 0
Prediction
Topic
Status
The speaker predicts the possibility of a deep global recession lasting one to two years or more.
"But we could also be headed into a recession like a deep global recession that could last a year or two years or more."
Recession
Pending
The speaker purchased their first real estate investment property, a 10,000 sq ft condo out of foreclosure for $8,000, on August 23rd, 2025 (implied by MCAT date context).
"I was 19 at the time and I started looking at real estate investment properties and again I didn't know what was normal and I took my MCAT on August 22nd. August 23rd I closed on my first real estate investment property. It was a small 10,000 foot condo out of foreclosure and I bought it for eight grand as the total price of the condo."
Real Estate Investment
Incorrect
The speaker's first real estate investment property began generating $600 per month in income.
"And that condo then started paying me $600 a month."
Real Estate Investment
Correct
In 2020, for the first time in history, the Federal Reserve directly provided funds to corporations by purchasing corporate bond ETFs.
"So what they did in 2020, this is the first time it's ever happened in history, is they directly gave money to corporations in the form of purchasing corporate bond ETFs."
Federal Reserve Actions
Correct
Lowering interest rates makes borrowing cheaper, leading to increased borrowing by individuals and institutions, which in turn fuels inflation as banks work with the Fed to create and inject money into the economy.
"So, when interest rates go down, it makes borrowing money cheaper. Well, when you make borrowing money cheaper, more people and institutions are going to go out and borrow money. This also creates more inflation because now when you go to the bank and you borrow a million dollars or $100,000, the bank is going to work with the Fed to print this money and that's how it gets injected into the economy. So lower interest rates create more inflation."
Inflation and Asset Values
Correct
Financially educated individuals own assets, defined as something that provides equity or puts money into one's pocket, as opposed to liabilities which take money away.
"And if you are somebody who's financially educated, you own assets and we didn't explicitly answer what is an asset. It is something that gives you equity. And at at the broadest form, an asset is something that puts money in your pocket. A liability is something that takes money away from your pocket."
Asset Ownership
Correct
Increased demand for housing due to lower interest rates will drive up home prices. Real estate investors will see their asset values increase, as will their rental income, and stock investments will also appreciate as businesses can borrow money cheaply.
"And now more people are going to want to buy a home. Well, if you have more demand to buy a home, where do home prices go? Up. Who owns homes? Well, yeah, if you're a homeowner, but if you are a real estate investor, now the value of your assets have just because now you own multiple real estate investments. Your rents have gone up. Your stock investments have gone up because now businesses can borrow money for effectively nothing."
Asset Value Appreciation
Correct