ilmscore | The American Spending Problem Just Got Worse...

The American Spending Problem Just Got Worse...

Published: 2023-12-15
Status: Available | Analyzed

Predictions from this Video

Total: 8
Correct: 0
Incorrect: 0
Pending: 8
Unrated: 0
Prediction
Topic
Status
A new wave of millionaires is predicted to emerge within the next 10 years due to upcoming opportunities, but only those who capitalize on them will benefit, while others may be negatively impacted.
"10 years from now we're going to see a whole new wave of millionaires and that starts with what you do today because we're going to see a whole new wave of opportunities over the next number of years and some people will be able to capitalize on them and everybody else is going to be hurt by them"
Wealth Creation
Pending
Investing $100 per month from age 21 to 65 in an asset like the S&P 500, with an average annual return of 10%, would result in retiring as a millionaire.
"if you could invest just $100 a month and you started doing that when you were 21 and you did that every single month until you turned 65 ready to retire you would retire a millionaire assuming you can get a 10% return if you just put your money into something like the S&P 500 that has averaged a 10% return a year"
Investment Strategy
Pending
Starting to invest $100 per month at age 35 and continuing until age 65 would result in accumulating approximately $250,000, significantly less than starting at age 21.
"if you started when you were 35 years old and you went from 35 to 65 now you're going to have a fraction of that you'd have about a quarter of a million dollars because you started a little bit later"
Investment Strategy
Pending
Young adults, despite feeling discouraged by economic conditions, possess the advantage of time, which is a crucial factor for wealth building.
"the article goes on to say quote young adults feel discouraged and that part makes sense you have high inflation we have a cooling economy of all these things happening however the one thing that young adults young adults have that everybody else does not have is time"
Economic Downturn
Pending
The economy is cyclical, characterized by periods of booms and busts, with recessions occurring approximately every decade over the past century.
"our economic system goes through booms and busts our economy has seen a recession pretty much every decade for for the last century"
Economic Cycles
Pending
Current inflation is a consequence of past economic stimulus aimed at avoiding financial pain, and raising interest rates to combat it will have its own set of consequences.
"we're paying the price for trying to not go through any Financial pain or not trying to go through any economic pain and now we're trying to cool down the inflation we're raising interest rates there's going to be consequences to the higher interest rates"
Inflation Impact
Pending
Sustained high interest rates are predicted to lead to significant changes in the economy and the job market.
"if interest rates stay high you can expect consequences to the higher interest rates you can expect changes into the economy and expect changes to the job market"
Interest Rates and Housing Market
Pending
Current inflation rates are double the Federal Reserve's target and are compounded by high inflation from previous years, meaning prices continue to rise significantly.
"you got to remember inflation compounds we're still seeing above what we want in inflation the inflation that we're seeing today is about double what the Federal Reserve Bank wants to see and on top of that the inflation that we're seeing today is on top of last year's High inflation and the year before is high inflation inflation keeps compounding"
Inflation Compounding
Pending