How To Make Money (Even When You're Sleeping)
Published: 2024-01-05
Status:
Available
|
Analyzed
Published: 2024-01-05
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Initial investment growth is slow for the first few years, but momentum increases after several years of consistent contributions. Significant growth is expected after 5-7 years, with a 'whole new different financial life' potentially attainable after 10 years of consistent investing.
"the first few years that is the slowest and the worst growth maybe you can get some benefit if the stock market or asset prices are are booming but the initial stages are the hardest because that's when you have the least money working for you but after a few years you're going to start to see a little bit more momentum because now you have more money working for you if you keep contributing money every single week for a few years you'll have some significant money invested for you if you do it for 5 years you'll see even more money working for you if you do it for seven years you'll have even more money working for you if you do it for 10 years now you're going to see a whole new different Financial life that you're going to be able to live"
Pending
True wealth is defined as financial freedom achieved by having passive income from assets that continue to pay even when not actively working.
"if you want to become wealthy and by wealthy I mean that Financial Freedom of now you have enough money coming in without you working to fund your lifestyle that this money just keeps coming into your bank account that's real wealth but the only way that you can get there is by owning an asset that will keep paying you even when you're not working"
Pending
To generate passive income from investments like stocks and real estate, capital is required to grow your money, and a larger investment leads to higher potential earnings without active work.
"it takes money to grow your money if you want to have this passive stream of income which is the best way to get paid it takes money to do that the more money that you can invest into these passive assets stocks and real estate the more you'll be able to make without having to work"
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Consistent investment contributions are recommended regardless of market conditions (up or down), with a potential for more aggressive investing during market downturns.
"I'm going to keep padding money into my investments month after month after month year after year after year even when things are down I'm going to keep putting my money into my investments when things are up I'm going to keep putting money into my investments if things go down even more maybe I'll invest even more aggressively"
Pending
Wealthy individuals prioritize investing a portion of their income (e.g., $3,000/month or $1,000/week from $10,000/month earnings) rather than spending it on immediate luxuries, contrasting with the 'broke thinking' of using increased income for visible consumption.
"most people are working to earn more money to have nicer things because most people think in terms of spending that oh my God if I could make $10,000 a month I could drive a BMW I can go on a vacation every single month I could be living large but see that's the wrong way of thinking that's broke thinking that's how the majority of people think if you want to understand how wealthy people think what wealthy people think is okay if I can make $10,000 a month that means I could put $3,000 a month into my investments that's pretty solid maybe I could put a $1,000 a week into my investments see that's what wealthy people are thinking"
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Achieving success with investments requires patience, as it takes several years for compounding and growth to become apparent, necessitating consistent monthly and yearly contributions.
"It's going to take a few years before I really see any success with my investments because Investments take time to compound and grow and I'm going to keep padding money into my investments month after month after month year after year after year"
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The belief that a large amount of wealth is required to start earning passive income is a myth; while more money leads to more passive income, significant capital is not a prerequisite to begin investing for it.
"biggest myth that people have when it comes to this type of passive income is that you have to be very wealthy or have a ton of money in order to get passive income but that's just not true I mean if you have more money then you can get more passive income but you don't need a ton of money to start Investing For passive income"
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A 'decade of sacrifice' involves working to reduce spending and increase earnings to maximize investment capital, implying that additional income from side hustles or businesses should be channeled into investments.
"a decade of sacrifice means you're working to spend less and earn more that we have more money to invest now this doesn't mean it's bad to get a second job or that it's bad to start a business or a side hustle or try to make some more money the question is why are you working to earn more money"
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True wealth allows for purchasing desired items and funding a lifestyle without financial worry, as income from investments covers bills and expenses, enabling a sense of freedom and the ability to enjoy purchases without concern for the cost.
"if you want to become wealthy well now if you know you're going to make money every single month from your Investments that are going to cover your bills that are going to cover your travel they're going to cover your lifestyle well now it's a whole lot freer you don't have to feel so bad to buy the nice stuff because now when you go out and you buy that Gucci when you can afford it because now your assets are paying for it you don't worry about the price because you know next month you're going to get more money anyways and you don't have to work to get paid"
Pending
A decade of sacrifice, characterized by spending less and earning more to increase investments, can lead to a significantly improved financial life.
"if you do it for 10 years now you're going to see a whole new different Financial life that you're going to be able to live that's why I call it a decade of sacrifice a decade of sacrifice means you're working to spend less and earn more that we have more money to invest"
Pending