Dave Ramsey Reacts To My $25 Million Dollar Investment
Published: 2022-09-02
Status:
Available
|
Analyzed
Published: 2022-09-02
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Ford GT identified as the best investment over the past 1.5 to 2 years.
"that ford gt by the way has been the best investment that i've made over the last probably a year and a half two years"
Pending
Cryptocurrency holdings, which peaked at $1 million, are now valued at $450,000 and are below the original cost basis.
"i think i think at the peak that was about a million uh it's down to about 450. it's slightly below my cost basis now"
Pending
The stock portfolio is predominantly composed of 80% S&P 520 and international equities.
"the majority of it is 80 s p 520 international"
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Recommendation to prioritize paying off mortgages, utilize 1031 exchanges to transition into commercial real estate for higher cash flow, leveraging existing gifting in that sector.
"I'd pay off the mortgages as quick as I can... and I would 10 31 and start moving towards some commercial over in there and use your giftings to find some real heavy cash flow commercial."
Pending
Prediction that the individual will generate more wealth through real estate than through stocks or mutual funds.
"you're going to make more money there than you'll ever make in stocks or mutual funds"
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Suggestion to maintain a cash reserve to mitigate risk associated with angel investments, especially given a large real estate portfolio.
"you've got a lot of properties you need some cash position to protect yourself on those angel investments"
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Investment in six fintech companies over the past two years, referred to as angel investments.
"angel investments so these are spread throughout six fintech companies that i've been building up for the last two years"
Pending
A property was refinanced to pull out $580,000, allowing the owner to live there without incurring housing costs, effectively making it a 'zero dollar home'.
"when i was able to pull out the 580. and this is what i call the zero dollar home because i was able to live here for free"
Pending
A small modification to a property resulted in a significant increase in its value.
"just because of that one change and the value went up significantly"
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Re-designating a property as a two-bedroom unit led to a 50% increase in rental income.
"and just calling it a two bedroom the rents increased by 50 percent"
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Strong recommendation to pay off mortgages as rapidly as possible.
"i'd pay off the mortgages as quick as i can"
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Assertion that debt-free properties carry lower risk compared to properties with outstanding loans.
"paid for property has less risk than a property with any kind of debt"
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The speaker initially believed wealthy individuals possessed a secret or extraordinary ability to accumulate wealth.
"the rich people always kind of like enamored me like i thought they had some kind of special sauce or something or they had a superpower"
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Wealthy individuals, even those who successfully used leverage, do not regret becoming debt-free.
"i never met a wealthy person... that regretted having no doubt once they got there"
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The speaker's investment strategy prioritizes paid-off real estate, their own company, and mutual funds, while avoiding high-risk assets.
"paid off real estate the company that i own and mutual funds i don't own any high risk anything"
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The logical approach to debt management is criticized for not accounting for the mathematical representation of risk.
"the math that you're using has zero mathematical representation of risk"
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Observation that most wealthy individuals employ simple, unsophisticated strategies rather than complex financial maneuvers.
"the vast majority of them don't do anything that's super sophisticated as a matter of fact it's kind of ridiculously primitive"
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The key to wealth accumulation for many successful individuals is focusing on a niche they understand and excel in, and then repeatedly applying that strategy.
"they find something that they like and that they understand and that they're good at and they do it a lot"
Pending
The statistical success rate for individuals building wealth through trading single stocks is extremely poor.
"individual buying and selling single stocks to build wealth is are horrendously bad they're really bad"
Pending
Suggestion to liquidate some equity holdings to pay off other debts.
"i'd roll some of those equities and pay off the others"
Pending