ilmscore | 3 Signs The Middle Class Is Financially Screwed (And How To Fix It)

3 Signs The Middle Class Is Financially Screwed (And How To Fix It)

Published: 2024-01-18
Status: Available | Analyzed

Predictions from this Video

Total: 9
Correct: 0
Incorrect: 0
Pending: 9
Unrated: 0
Prediction
Topic
Status
The current economic system is inherently designed to generate inflation.
"Our system is designed to create inflation."
Inflation
Pending
The Federal Reserve aims for a 2% inflation target, leading to a projected annual decrease of 2% in the value of currency.
"Even the Federal Reserve Bank very openly talks about why they want a 2% inflation target, which means that you're going to see the value of your dollars drop by 2%."
Federal Reserve
Pending
Inflation benefits asset owners more than consumers, indicating that owning assets is a strategy for wealth preservation and growth in an inflationary environment.
"this is why investors want to own assets. Financially educated people and wealthy people want to own assets because when you have inflation that disproportionately benefits asset owners over consumers."
Asset Ownership
Pending
Wealthy individuals prioritize building equity in rental properties over their primary residences as an investment strategy.
"They want to build equity in real estate, not the home that they own, but rental properties."
Real Estate Investment
Pending
Despite short-term fluctuations, asset prices are predicted to rise in the long term due to continued inflation, which benefits asset owners.
"We are going to continue to see inflation. This inflation is going to continue to benefit investment owners. Does this mean that the markets will only go up or the asset prices will only go up? No. We're going to see ups and downs. But over the long term, we are going to continue to see asset prices rise"
Inflation and Asset Prices
Pending
Building sustainable cash flow from investments is a long-term strategy that requires a decade or more of consistent effort.
"building real sustainable cash flow from your investments is not something that happens overnight. It's not something that happens in a year. It's not even something that happens in 10 years. This is a long-term strategy where if you keep doing this over the course of a decade or more, well, now you're going to be able to build cash flow that you can also rely on."
Long-term Investment Strategy
Pending
Achieving wealth requires a 'decade of sacrifice' involving living below one's means, making financial sacrifices, earning more, and investing unspent cash.
"I call it the decade of sacrifice where over a decade you are going to have to live below your means. You're going to have to make financial sacrifices and you're going to have to work to earn more money. And then this cash that you're not spending, you put this money to work."
Wealth Building
Pending
Financial freedom is achievable by calculating a 'freedom number' based on income needs and expenses, and then actively pursuing it.
"once you achieve that freedom number, you can go out and have that freedom. It requires a little bit of math of knowing how much money do you need, how much are your expenses, and how will you actually go out and get this freedom?"
Financial Independence
Pending
Consistent investment of unspent earnings, sustained over years, will lead to a diversified income stream from both employment and assets.
"Then you got to take this new money that you do have and not spend it. And then you got to put this money to work. Then you're going to do that month after month after month, year after year after year. And then pretty soon you're going to have a whole new stream of income where all of a sudden now you're making way more money because you got the income from your job. You got the income from your assets."
Investment and Wealth Growth
Pending