ilmscore | 7 Habits That Keep 98% Of Americans Poor

7 Habits That Keep 98% Of Americans Poor

Published: 2023-11-29
Status: Available | Analyzed

Predictions from this Video

Total: 11
Correct: 0
Incorrect: 0
Pending: 11
Unrated: 0
Prediction
Topic
Status
Investing $528 per month in the stock market with a 10% annual return for 30 years is projected to result in over $1.1 million.
"if you took the $528 a month and you invested this money into the stock market maybe you just put it into an ETF giving exposure to the total stock market you get a 10% return you do this for 30 years you're going to have an investment fund worth over $1.1 million"
Stock Market Returns
Pending
Wealthy individuals typically attribute their success to business ventures, stocks, or rental properties, rather than paying down home equity.
"wealthy people become wealthy because they build a business or because they buy a business or because they invest in stocks or because they invest in rental properties they don't talk about how they became wealthy because they pay down the equity in their home"
Home Equity vs. Investment
Pending
Rental properties are presented as assets that can generate income to cover their own expenses, unlike a primary residence which is an expense. The speaker emphasizes that time, return, and dollars are key to building wealth.
"now I'm going to say this one more time nothing wrong with owning a home I actually like home ownership I like the idea of you owning a home but I want you to be a smart homeowner as opposed to somebody who's thinking that this home is the best investment that you can make and I you go deep into debt to buy a home that's Way Beyond your budget and now you have no more money to actually invest into real assets that will actually make you wealthy number three is you wait too long to start investing if you want to build wealth there's three things you got to pay attention to tr r d time return and dollars period"
Rental Property Returns
Pending
Starting to invest at the age of 21 with $100 per month is predicted to be very powerful.
"if you can start at the age of 21 with $100 a month that is going to be extremely powerful"
Investing Start Age
Pending
A change in thinking is predicted to lead to changes in actions, which in turn will change the outcomes achieved.
"if you change the way you think it'll change what you do if you change what you do it'll change what you get"
Financial Mindset
Pending
Investing $528 per month into a total stock market ETF with a 10% annual return could result in an investment fund of over $1.1 million after 30 years.
"if you took the $528 a month and you invested this money into the stock market maybe you just put it into an ETF giving exposure to the total stock market you get a 10% return you do this for 30 years you're going to have an investment fund worth over $1.1 million"
Stock Market Returns
Pending
A car driven for 30 years will be worth nothing, contrasting with the potential financial growth from investing the same amount.
"you drive a car for 30 years it's going to be worth nothing"
Car Ownership vs. Investment
Pending
Starting to invest $100 per month at the age of 21 can have significant long-term financial power due to compounding.
"if you can start at the age of 21 with $100 a month that is going to be extremely powerful"
Investment Time Horizon
Pending
Brand name purchases are only considered an investment if one is being paid to use or wear them, such as social media influencers.
"if you are an influencer and you're getting paid to wear the Gucci that's an investment for you if you're not getting paid to away the Gucci it's not an investment for you"
Investment vs. Consumption
Pending
Individuals should honestly assess whether small daily expenses or larger purchases (job, car, apartment) are the primary cause of financial struggles.
"is it the $5 things this keeping you broke or is it the $50,000 things is it the job is it your car is it your apartment is it some other expensive decisions or is it the $ or $5 that you're spending on that coffee"
Financial Decision Making
Pending
A proposed rule for determining affordability: if one cannot buy five of an item, they cannot truly afford one.
"if you cannot buy by five of them you cannot afford one of them"
Affordability Rule
Pending