ilmscore | Your 2024 Playbook To Get Rich & NEVER Worry About Money Again

Your 2024 Playbook To Get Rich & NEVER Worry About Money Again

Published: 2024-01-01
Status: Available | Analyzed

Predictions from this Video

Total: 10
Correct: 0
Incorrect: 0
Pending: 10
Unrated: 0
Prediction
Topic
Status
Significant financial transformation is possible within six months, with full recognition of change in six years, assuming disciplined learning and application of wealth-building strategies.
"In six months you're going to see a completely different world and in six years you're not going to recognize yourself financially."
Financial Independence
Pending
A decade of focused sacrifice (living smaller, earning more, investing aggressively) can lead to significant new income streams and wealth creation.
"if you're willing to put in a decade of you living smaller and earning more so you can invest more aggressively you were going to have the ability to create a whole new stream of income and a whole new side of wealth that you didn't even know was possible."
Wealth Building Timeline
Pending
Establishing an emergency fund of $2,000 as quickly as possible is the initial step in wealth building.
"The first thing you got to do is you got to give yourself a $2,000 cushion you got got to save $2,000 as fast as possible."
Personal Finance Strategy
Pending
Aggressively paying off high-interest debts like credit cards and payday loans is the second priority in wealth building.
"then the second thing you got to do is you got to pay down your high interest debts your credit card debts and your payday loans as fast as possible."
Personal Finance Strategy
Pending
Tracking income and expenses through a spreadsheet or similar tool is a crucial step in understanding one's financial situation.
"The third thing you got to do now is you got to track your money get a Google sheet get a piece of paper get a spreadsheet doesn't matter and write down how much money you're making where you're making your money from and then below that write down all of your expenses."
Personal Finance Strategy
Pending
Implementing a budgeting system like the 75/15/10 plan (75% spending, 15% investing, 10% saving) is recommended for managing income.
"The fourth thing that you got to do now is you need to start creating a system for your money... a simple thing that you can follow is something like a 75 1510 plan which says that for every dollar that you earn from here on out 75 cents is the maximum that you can spend 15 cents is the minimum that you invest 10 cents is the minimum that you save."
Personal Finance Strategy
Pending
Controlling spending by avoiding interest rates, liabilities, and debt for non-income-generating purchases is essential.
"The fifth thing that you got to do is you got to get your spending under control that means no more 0% APR no more financing liabilities no more going into debt to buy things that aren't making you any money."
Personal Finance Strategy
Pending
Focusing on increasing income is the next step after establishing financial control.
"The sixth thing that you got to do is now you got to fuel the system now you got to start figuring out how you can earn more money."
Income Generation
Pending
Proactive investment in professional advisors (tax, legal, financial planning) is recommended for asset protection.
"number seven is you got to protect your assets... you want to start investing in good advisers a good Tax Advisor a good attorney good planners to help you protect yourself legally financially."
Asset Protection
Pending
Wealthy individuals focus on earning money to acquire assets that generate further income, contrasting with those who earn money to project an image of wealth.
"wealthy people work hard to earn money to buy things that make the money they're working hard to make money so they can make more money broke people make money to look like they made money."
Wealth Mindset
Pending