ilmscore | "High-Value Woman" Is Actually For The Streets | Financial Audit

Predictions from this Video

Total: 6
Correct: 2
Incorrect: 1
Pending: 3
Unrated: 0
Prediction
Topic
Status
There are approximately 64,987 job openings in Fort Worth, Texas, with 8,800 specifically listed as 'now hiring' on Indeed.
"Now hiring positions are 8,800 on Indeed for Fort Worth, Texas. There are 64,987 job openings in Fort Worth. Now some of them are probably ghost positions. But even still with 64,000"
Job market
Incorrect
The job market in Fort Worth has a significant number of service industry positions but fewer administrative roles. The speaker presents two paths: embracing a victim mentality and living at home, or taking action.
"And a lot of them are service industry and that's the hard part because the administrative ones aren't. I don't have a qualification. This is what you essentially have to decide. And you can go either way. I will support you and you can decide what you want to do. Doesn't mean I think it's necessarily right. But here's what you get to decide. I'm a victim forever. Okay. Go get on disability. Good. Live at home forever."
Job market
Pending
The car loan has an interest rate of approximately 10%, with a balance of $6,156.37.
"The interest rate I believe it's 10%. was $6,156.37. on it? I'm not sure, actually."
Car loan
Correct
Withdrawing from a 401k early incurs a 10% penalty and income tax, effectively acting like a 20% debt. A $20,000 401k would be reduced to approximately $14,000 after these fees.
"So, you wouldn't recommend me doing that? Cuz it's like taking out a 20% debt cuz you're going to lose 20% 10% for penalties and then probably about 10% for your taxes. Okay. That's like taking on a 20% debt. Also, this $20,000 that's in there."
401k withdrawal
Correct
If the $20,000 401k had been invested in the S&P 500 and grown at a historical 10% rate, it could be worth approximately $438,000. Withdrawing it now means losing an estimated $48,000 in potential future growth.
"This $20,000 that's in there. 10% returning thing which is the historical up and downs combined the S&P 500 would be worth four $438,000. So you're going to lose $48,000 by pulling it out."
401k investment growth
Pending
Social Security is predicted to be unsustainable by the time current young adults reach retirement age due to its investment in low-yield government bonds since the 1990s and a high debt-to-GDP ratio. Retirement age will likely be pushed back further.
"Social Security right now, it doesn't make money. All the money that goes in immediately gets paid out because it was denied in the 1990s to be invested in the overall market. Instead, it was put in the low government bonds. because of that it never keeps up with inflation meaning it was a service or you know a program that is not able to actually keep up and they tap money from it. So because of that there's not enough money and because of that we have to continue pushing retirement age and by the time that we are in retirement social security is not going to be able to sustain itself. It already takes up a massive percent of the federal budget. It is not going to be able to sustain itself especially where we are with debt to income or debt to GDP ratio in this country. Good luck by the time we are 60 or 70 social security being around."
Social Security
Pending