ilmscore | The LARGEST Wealth Transfer Just Started | How To Prepare

The LARGEST Wealth Transfer Just Started | How To Prepare

Published: 2022-08-29
Status: Available | Analyzed

Predictions from this Video

Total: 11
Correct: 0
Incorrect: 0
Pending: 11
Unrated: 0
Prediction
Topic
Status
Americans spend an average of $18,000 annually on non-essential items, indicating a significant opportunity for savings.
"Americans are spending an average of eighteen thousand dollars a year on non-essential items"
Personal Savings
Pending
Consumer debt is increasing, suggesting a worsening financial situation for many.
"Consumer Debt is on the rise"
Consumer Debt
Pending
75% of people feel their income is not keeping pace with the rising cost of living.
"75 say their incomes are falling behind the cost of living"
Cost of Living
Pending
An investment of $100 could grow to $425 in 20 years, $875 in 30 years, and $1,800 in 40 years based on average stock market returns, highlighting the significant potential of long-term investment.
"if you just took the average return of the stock markets your 100 today would grow to 425 dollars in 20 years 875 dollars in 30 years and one thousand eight hundred dollars in forty years"
Future Value of Money
Pending
The average American makes impulse purchases totaling an extra $314 per month without realizing it.
"the average American spending an extra 314 dollars a month without even realizing it"
Impulse Purchases
Pending
The personal savings rate has reached its lowest point in 10 years.
"the personal savings rate now at the lowest level it's been in 10 years"
Savings Rate
Pending
A significant portion (36%) of individuals earning over $250,000 annually report having no savings left at the end of the month.
"36 percent of those making above 250 000 a year were also left over with nothing at the end of the month"
Savings Habits
Pending
Waiting 24 hours before making a purchase can still provide shopping enjoyment while preserving financial goals like Roth IRA contributions.
"by waiting 24 hours to buy something you could still get all the enjoyments of shopping without sacrificing your Roth IRA contribution"
Delayed Gratification
Pending
Calculating the cost per use of items, such as an $80 shirt worn twice costing $40 per wear, can lead to more mindful spending.
"an 80 shirt that you've worn twice well that cost you forty dollars for every time you put it on or those three hundred dollar headphones that you've worn five times well that was sixty dollars every time you've used it"
Cost per Use
Pending
Purchases can be reframed in terms of the hours of work required to earn the money, such as a $90 dinner costing three hours of work for someone earning $30/hour.
"let's say you're making thirty dollars an hour and you spend ninety dollars on dinner in a way that dinner is actually costing you three hours of your time"
Time Value of Money
Pending
Americans are overspending by an average of $133 per month on subscriptions they don't realize they have.
"Americans spend 133 dollars more on monthly subscriptions than they realize"
Unwanted Subscriptions
Pending