ilmscore | 90% of People Don’t Understand THIS About Money

90% of People Don’t Understand THIS About Money

Published: 2023-10-19
Status: Available | Analyzed

Predictions from this Video

Total: 6
Correct: 0
Incorrect: 0
Pending: 6
Unrated: 0
Prediction
Topic
Status
It will take approximately $6.9 million today to purchase the same amount of goods that $1 million could buy in 1973, indicating a significant drop in the purchasing power of cash due to inflation.
"you would need almost 7 million today you need about $6.9 million today to buy what $1 million could back in 1973 so that means yes this cash still has buying power this cash can still pay for your food this cash can still pay for your housing this cash can still pay for your car however the value and buying power of your cash is dropping because of inflation"
Inflation's impact on cash
Pending
The speaker invested in real estate in 2011, a period described as the bottom of the 2008 real estate cycle, leading to significantly lower property prices.
"I was fortunate I started investing in real estate in 2011 which was at the bottom of the 2008 real estate cycle which meant real estate prices were selling for dirt cheap"
Real estate investment
Pending
A successful real estate investment should generate enough rental income to cover all property-related expenses (taxes, insurance, maintenance, management, vacancy) and still provide monthly profit.
"the rent that you're going to generate from this property should not only pay for your property taxes your insurance your maintenance your management fees and your vacancy cost but they should also put some money in your pocket every single month"
Real estate investment strategy
Pending
The stock market has experienced growth over the past century.
"we've seen the stock market grow over the last century"
Stock market growth
Pending
A comfortable starting point for real estate investment is estimated to be between $30,000 and $50,000.
"you would need at least somewhere between $30 to $50,000 to get started as a real estate investor I mean could you start investing with less I'm sure you could but if you want to be able to start comfortably I would say you need at least $3 to $50,000 to start investing in real estate"
Starting real estate investment
Pending
Entrepreneurship is presented as a highly effective and time-tested method for building wealth.
"this has been one of the most time- tested and proven ways for people to build wealth"
Entrepreneurship as a wealth-building method
Pending