ilmscore | How To Use The 2025 Recession To Get Rich

How To Use The 2025 Recession To Get Rich

Published: 2025-03-28
Status: Available | Analyzed

Predictions from this Video

Total: 11
Correct: 7
Incorrect: 0
Pending: 4
Unrated: 0
Prediction
Topic
Status
Achieving a credit score between 720-780 within 18-24 months will grant access to the lowest interest rates on loans.
"after 18 to 24 months of doing this you should have a credit score anywhere between 720 to 780 which will get you the lowest interest rates any time you go and apply for a loan or leverage your money"
Credit Score Improvement
Correct
Employees who switch companies can expect to earn approximately 30% more money on average compared to those who stay with the same employer.
"those who switch companies end up receiving on average 30% more money than those that don't"
Career Progression
Pending
Individuals with a greater number of income sources tend to earn more money overall.
"the more income sources a person had the more money they usually made"
Multiple Income Streams
Correct
Capital gains are taxed at a lower rate (0-20%) compared to ordinary income (potentially 37%), leading to significant tax savings.
"capital gains are taxed at a lower rate than ordinary income so instead of paying 37% maybe you pay as low as 0 to 20%"
Capital Gains Tax
Correct
Despite increased difficulty, there remains opportunity in real estate through buying, renovating, and renting out properties.
"even though this one is significantly harder today than it was when I first got started there is still some opportunity in buying properties fixing them up and then renting them out"
Rental Income
Correct
More than 50% of individuals earning $100,000 annually live paycheck to paycheck, and a third of those earning $200,000 cannot save any money, likely due to lifestyle inflation.
"over half of people making $100,000 a year are living paycheck to paycheck and a third of people making $200,000 a year can't save any money"
Lifestyle Inflation
Correct
A $1 investment at 7% annual return will grow to $21 by age 65 if started at 20, but only $10.68 if started at 30, highlighting the significant impact of early investing.
"$1 invested at 20 years old at a 7% return is going to be worth $21 at the age of 65 however if you wait and invest that very same dollar at the age of 30 instead of 20 it's only going to be worth $10.68"
Investment Growth
Pending
Contributing $7,000 annually to a Roth IRA from age 18 with an average 8% return could result in nearly $4 million tax-free by age 65.
"if you sign up for one of these at 18 years old and you contribute $7,000 a year at an average of an 8% return by the time you're 65 years old you're going to have almost $4 million available to you completely taxfree"
Roth IRA Retirement Savings
Pending
With a retirement nest egg of approximately $4 million, one could sustainably spend over $150,000 per year throughout their retirement.
"from that amount you would be able to spend over $150,000 every single year for the rest of your life"
Retirement Spending
Correct
Lack of passion for one's work leads to burnout and allows others with genuine interest to surpass them.
"if you don't love what you do you're going to get burned out you're going to let things slide and someone else who is into that thing is going to run laps around you"
Passion in Work
Correct
Everyone possesses a natural talent or gift that provides a unique advantage over others.
"all of us are naturally gifted with one thing that you have an unfair advantage over"
Leveraging Strengths
Pending
Achieving significant changes and results requires years of dedicated and consistent effort.
"it's going to take years and years of which you have to remain dedicated"
Consistent Effort
Pending