ilmscore | How To Get Anything You Want Out Of Life

How To Get Anything You Want Out Of Life

Predictions from this Video

Total: 3
Correct: 0
Incorrect: 0
Pending: 3
Unrated: 0
Prediction
Topic
Status
An anecdote is shared about an individual who successfully started in real estate investing through house hacking a small duplex, prioritizing saving for the next rental property over personal luxuries like a car, and living in a smaller unit to maximize rental income.
"he started with house hacking and he started with a very small duplex where he lived in a very small unit so he could rent out the bigger unit and he spent his money not on nice things but saving up for his next rental property he didn't even buy himself a car he rode a bike miles to work every day and back that way he could save money save that car payment save that down payment on the car so he could save that money for the next rental property and he was living in a very small unit that way he could generate more rental income than what he would have gotten if he lived in the nicer unit"
Real Estate Investing
Pending
To afford luxury items without depleting savings, the strategy suggested is to keep money in the bank and invest it so that the returns can then be used to purchase those items, rather than using earned income directly.
"if your money comes into your bank account you pay your taxes then you take this money you go to Gucci you go to Apple you go to Amazon and you go spend all this money what you're doing is you're giving all your money to everybody else the money doesn't stay in your account and I know I'm getting more on the financial side of things but if you want to have more of the nice things well you got to take that money and keep it in your bank account that way your money can grow you got to invest this money in a place where your money can grow that way now you can use your money that your money is making and use that money to buy the nice things that way you don't have to use your hard-earned money to buy the nice things you can use the money that your money made to buy the nice things"
Financial Planning
Pending
The speaker predicts that economic conditions will not improve in the future, stating it will not get easier in 5, 10, or 20 years.
"there are so many people talking about how it is hard inflation has made things harder how do you expect some to start it's not going to get easier 5 years from now it's not going to get easier 10 years from now it's not going to get easier 20 years from now but that time is going to go"
Future Economic Conditions
Pending