ilmscore | 15 Habits That Can Make You Wealthy

15 Habits That Can Make You Wealthy

Published: 2024-02-28
Status: Available | Analyzed

Predictions from this Video

Total: 8
Correct: 0
Incorrect: 0
Pending: 8
Unrated: 0
Prediction
Topic
Status
Income growth is achieved by understanding how to earn more money, rather than simply working harder.
"the ability to earn more money isn't how hard you can work right there's 24 hours in a day there's nobody that can really outwork somebody 1000 times in order to earn 1000 times more than somebody else but the ways that you can earn more money is understanding how you can earn more money"
Income Growth
Pending
Individuals who consistently go the extra mile and do more than required are more likely to receive promotions and secure better job opportunities.
"when it comes time for that promotion to get the next big job who do you think is going to get the job the person who comes in and barely does the work or the person who's coming in and doing the extra work and going the extra mile"
Career Progression
Pending
Achieving financial freedom is accelerated by adopting a mindset where one doesn't feel the need to spend money to impress others, thus allowing more funds to be directed towards wealth building.
"when you can do this when you can get to the mindset of not needing to spend money to show it off on Instagram not needing to go out and eat out just to post it on wherever you want to post it not needing to go on vacations not needing to have all the nice fancy designer stuff well now you going to buy yourself a whole lot of freedom because now you can work to earn money to make yourself wealthy"
Financial Freedom
Pending
Significant wealth accumulation, as exemplified by Warren Buffett, is largely a result of allowing investments to compound over extended periods, with the majority of wealth being built after the age of 65.
"like Warren Buffett built 90 to 95% of his wealth after his 65th birthday because he kept letting his money compound and grow"
Investment Strategy
Pending
Transitioning a business into a multi-million dollar enterprise may necessitate taking the risk of quitting one's current job.
"you might have to take a risk to quit your job to make that business into a multi-million dollar business"
Entrepreneurship
Pending
It is crucial to invest in one's physical and mental well-being, as these are the only bodies and minds individuals will possess.
"this body that you have this mind that you have is the only one that you're going to get and you got to be making sure that you're investing in this body and mind that you have"
Personal Development
Pending
Procrastination in starting wealth-building efforts will lead to regret, regardless of current age, as 10 years will pass quickly, and one will wish they had begun sooner.
"10 years from now 10 years are going to go by and you're going to wish you would have started 10 years ago I don't care how old you are today whether you're 25 35 or 55 or 65 when those 10 years go by you're going to wish you would have started 10 years ago"
Wealth Building
Pending
Investors can benefit from lower tax rates and more tax breaks compared to doctors, potentially paying significantly less in taxes on their income.
"you get to pay a lower tax rate on those taxes as an investor and maybe you get more tax breaks as a doctor you might have to pay half of that money in taxes which means you might be left with $500,000 as an investor you might be paying 20% to 0% of the income in taxes depending on how you invested your money and what types of Investments you have"
Financial Strategy
Pending