ilmscore | A $7 Coffee Isn't The Reason Why You're Poor... It's This

A $7 Coffee Isn't The Reason Why You're Poor... It's This

Published: 2024-03-14
Status: Available | Analyzed

Predictions from this Video

Total: 9
Correct: 0
Incorrect: 0
Pending: 9
Unrated: 0
Prediction
Topic
Status
Investing $1,500 annually in the S&P 500, assuming a 10% average annual return, could grow to over $1 million in 45 years.
"If instead you took this $1,500 a year and you invested into something like the SNP 500 which has averaged a 10% return a year for about the last century and you did that for say 45 years because you did this from the the day you turned 21 until you retired well now this $1,500 a year you were spending on coffee would have grown to over $1 million in your investment account"
^GSPC
Pending
The S&P 500 has averaged a 10% annual return over the past century.
"the SNP 500 which has averaged a 10% return a year for about the last century"
^GSPC
Pending
The S&P 500 has averaged a 10% annual return over the last century.
"the SNP 500 which has averaged a 10% return a year for about the last century"
^GSPC
Pending
Phase 1 of wealth building involves saving the first $2,000 and paying off high-interest debts like credit cards.
"the goals here are to save your first $2,000 and your goal here is to pay off your high interest debts like your credit card debt"
Wealth Building Phase 1 Goals
Pending
Individuals in 'Phase 1' of wealth building, with less than $2,000 saved and high-interest debt, cannot afford to buy coffee from outside establishments.
"if you don't have $2,000 saved up you were in this phase one what I like to call the financial danger zone and you can absolutely not afford to go out and buy that coffee from outside"
Wealth Building - Phase 1
Pending
In Phase 2 of wealth building, a maximum of 75% of income should be spent, with at least 15% invested and 10% saved.
"75 cents is the maximum that you can spend 15 cents is the minimum that you're investing 10 cents is the minimum that you're saving"
Wealth Building Phase 2 Spending Limit
Pending
Phase 3 of wealth building is achieved when investment cash flow surpasses essential living expenses.
"phase three of this wealth building journey is when your cash flow from your Investments exceeds your base expenses that you need to live off of"
Wealth Building Phase 3
Pending
In 'Phase 2' of wealth building, a '75/15/10 plan' suggests a maximum of 75% of income for spending, a minimum of 15% for investment, and a minimum of 10% for savings.
"in phase two this is where your building a financial system for yourself I talk a lot about something like a 75 1510 plan which says 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're investing 10 cents is the minimum that you're saving"
Wealth Building - Phase 2
Pending
'Phase 3' of wealth building is achieved when investment cash flow surpasses basic living expenses.
"phase three of this wealth building journey is when your cash flow from your Investments exceeds your base expenses that you need to live off of"
Wealth Building - Phase 3
Pending