ilmscore | You Are Trained To Be POOR - Don't Do These 10 Things

Predictions from this Video

Total: 3
Correct: 0
Incorrect: 0
Pending: 3
Prediction
Topic
Status
Paying the minimum on average US credit card debt ($6,500) at 25% APR could result in over $155,000 in interest paid.
"if you had $6,500 of credit card debt which is the average household credit card debt in America today and you were paying 25% a year in interest your APR which is the average APR in America today well you're going to be paying a lot of money in interest in fact if you make the minimum payment you're going to be paying close to $155,000 in interest just to pay off the $6,500 in credit card debt"
Credit Card Debt
Pending
$6,500 invested for 30 years at 25% annual return could grow to over $5 million, with no further investment.
"what if you had $6,500 in your pocket today and you invested that money today and now instead of you paying the 25% a year interest what if you could get the 25% a year interest well now if you could do that for 30 years and you never invest another Penny your $6,500 is going to grow to over $5 million"
Investment Growth
Pending
Social Security funds are declining annually, with current contributions funding existing retirees. Without changes, the fund's reserves are projected to deplete.
"what we're realizing is that the social security funds are dropping year after year and what that means is social security the money that you're paying into Social Security every time you get paid is taking your money to fund somebody else's retirement it's supposed to go to fund your retirement but your money is going to fund somebody else's retirement and this is why if the Social Security System doesn't change that the funds in the Social Security fund are going to run out"
Social Security Sustainability
Pending