How To Live Off Of Dividends ALONE So You Can Quit Your 9-5 Job
Published: 2024-06-16
Status:
Available
|
Analyzed
Published: 2024-06-16
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Sculptor Capital Management (SCU) was paying a 24% annual dividend yield at the time of recording.
"SCU pays a 24% annual dividend yield at the time of we recording this video"
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Orchid Island Capital (ORC) was paying a 16% annual dividend yield at the time of recording.
"and orc is a 16% yield"
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Vanguard High Yield Dividend ETF (BYM) was paying a 2.8% dividend yield at the time of recording.
"at the time of we recording bym is is paying out a dividend yield of 2.8%"
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JP Morgan Chase Bank (JPM) was paying approximately a 3% annual dividend yield at the time of recording.
"both JP Morgan Chase Bank and fiser pay around a 3% annual dividend at the time of recording"
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Fiser (FSR) was paying approximately a 3% annual dividend yield at the time of recording.
"both JP Morgan Chase Bank and fiser pay around a 3% annual dividend at the time of recording"
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Sculptor Capital Management (SCU) was paying a 24% annual dividend yield at the time of recording.
"SCU pays a 24% annual dividend yield at the time of we recording this video"
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Orchid Island Capital (ORC) was paying a 16% annual dividend yield at the time of recording.
"and orc is a 16% yield"
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Vanguard High Yielding Dividend ETF (VYM) was paying a 2.8% dividend yield at the time of recording.
"bym is is paying out a dividend yield of 2.8%"
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JP Morgan Chase Bank (JPM) was paying approximately a 3% annual dividend at the time of recording.
"JP Morgan Chase Bank and fiser pay around a 3% annual dividend at the time of recording"
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Pfizer (PFE) was paying approximately a 3% annual dividend at the time of recording.
"JP Morgan Chase Bank and fiser pay around a 3% annual dividend at the time of recording"
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Apple (AAPL) was paying around a 0.5% annual dividend at the time of recording.
"and Apple's paying around a half a% annual dividend"
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IBM was paying around a 5% annual dividend at the time of recording.
"IBM at the time of this recording pays around a 5% annual dividend"
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Johnson & Johnson (JNJ) was paying around a 0.25% annual dividend, which appears to be a misstatement in the transcript, likely intended to be much lower.
"and J&J or Johnson and Johnson pays around a 25% annual dividend"
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Coca-Cola (KO) was paying just under a 3% annual dividend yield at the time of recording.
"at the time of this recording Coca-Cola is paying just under a 3% annual yield"
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Target (TGT) was paying around a 1.2% annual dividend yield at the time of recording.
"and Target is paying right around a 1 1.2% annual yield"
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Simon Property Group (SPG) was paying around a 5% annual dividend at the time of recording.
"they're paying around a 5% annual dividend"
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Vanguard Real Estate ETF (VNQ) was paying around a 2.2% annual dividend yield at the time of recording.
"vnq is paying around a 2.2% annual dividend yield"
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VOO (or SPY) has grown by over 14% annually on average over the last 10 years.
"we've seen vo particularly it's about the exact same for spy we've seen vo grow by more than 14% a year on average over the last 10 years"
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SPY has grown by over 14% annually on average over the last 10 years.
"we've seen vo particularly it's about the exact same for spy we've seen vo grow by more than 14% a year on average over the last 10 years"
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The Vanguard S&P 500 ETF (VOO) had $829 billion in total net assets at the time of recording.
"the fund total net assets which is $829 billion for Vo"
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The SPDR S&P 500 ETF (SPY) had $668 billion in assets under management at the time of recording.
"spider index statistics it says the weighted average market cap which is currently 668 million million which is $668 billion"
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The gross expense ratio for SPY was 0.0945%.
"and on the spdr spider website you'll see that the gross expense ratio is 0.094 5%"
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The Vanguard Small Cap ETF (VB) had $141 billion in assets under management.
"it says that they have $141 billion in assets under management"
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The ARK Innovation ETF (ARKK) had $21 billion in assets under management.
"on the Ark Ark K1 it says they have 21,000 million assets under management which is 21 billion"
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The Vanguard Growth ETF (VUG) had $183 billion in assets under management.
"the vug Vanguard Growth ETF has 183 billion assets under management"
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The Invesco QQQ ETF had $192 billion in assets under management.
"QQQ I'm going to show you this on the finance. Yahoo website because it's easier to find here than on their actual investco website but if you look under the net assets number it says that they have $192 billion in assets under management"
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The Vanguard Emerging Markets ETF (VWO) had $110 billion in total net assets.
"vwo it says that the fund total net assets are $110 billion"
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The Schwab Emerging Markets ETF (SCHM) had $9 billion in total net assets.
"the Schwab ETF it says that the total net assets are $9 billion"
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The iShares Core MSCI Emerging Markets ETF (IEMG) had $28 billion in net assets.
"and the high shares eem emerging market fund says that the net assets are $28 billion"
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VWO's top five country allocations are China, Taiwan, India, Brazil, and South Africa.
"the top five countries that this ETF invests in are China followed by Taiwan followed by India Brazil and South Africa"
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VWO's top holdings include Taiwan Semiconductor Manufacturing Company, Tencent, and Alibaba.
"the number one holding is the Taiwan semiconductor Manufacturing Company number two is 10cent number three is Alibaba"
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IEMG's top country allocations are China, Taiwan, South Korea, India, and Brazil.
"the top countries for this ETF are number one China then Taiwan then South Korea then India then Brazil"
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IEMG's top holdings include Taiwan Semiconductor Company, Tencent, Samsung, and Alibaba.
"the number one in this is the Taiwan Semiconductor Company then you have 10cent then you have Samsung then you have Alibaba"
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SCHM's top country allocations are China, Taiwan, India, Brazil, and South Africa.
"the top countries that this ETF invests in are China Taiwan India Brazil and South Africa"
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SCHM's top holdings include Taiwan Semiconductor Company, Tencent, Alibaba, Maan, and Reliance.
"you can see the top Holdings which are for here the Taiwan Semiconductor Company you have 10 cent again Alibaba again and then you have companies like Maan I think that's how you say it and Reliance"
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The expense ratio for VWO was 0.1%.
"the Vanguard emerging Market ETF expense ratio is 0.1%"
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The expense ratio for SCHM was 0.11%.
"and then you have the Schwab s ETF which has an expense ratio of 0.11%"
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The stock market historically returns an average of 7-10% per year over the long term.
"over the long term the stock market typically goes up by somewhere between 7 and 10% a year"
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A minimum of 15% of income should be invested.
"Investing a minimum of 15% of every dollar that you earned"
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Investing 15% of a $30,000 starting salary with a 3% annual raise and a 7% annual return will result in approximately $1.9 million by age 65.
"if you do that between the age of 21 and 65 you are going to save so at 65 you continue to do this you are going to put aside $400,000"
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Starting to invest $300/month at age 31 instead of 21 (assuming similar returns) can result in a difference of over $500,000 in retirement savings.
"if you start a little bit later let's say you started investing not at 21 but now at 31 and you continue to do this until you're 66 so now this is 35 years but you're still doing the same investment you're still doing $10 a day or $300 a month now if you do the same investment you're not going to retire with $1.1 million you're going to retire with $535,000"
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Doubling the daily investment from $10 to $20 (from $300 to $600 per month) can double retirement savings over a 45-year period, reaching over $2.2 million with a 7% return.
"let's assume now that you're investing $20 a day and you continue to get the 7% return a year if you do this for 45 years so you start when you're 21 and you continue to do this until you're 66 then you are going to retire with over $2.2 million"
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Investing $20/day with a 10% annual return over 45 years could result in $5.5 million in retirement savings.
"now let's go through this example again where you're investing $20 a day and now you're a little bit more aggressive so you're trying to get a 10% return if you do this for 45 years just to show you the example now you're going to end up with $5.5 million"
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The true cost of a $150 item, after considering taxes and an assumed $20/hour pre-tax wage, is approximately 9.5 hours of work.
"let's say you make $20 an hour so if you make $20 an hour how long did it take you to make this $150 that would be what 7 and half hours of work to get this $150 jacket but this is actually before taxes because remember Uncle Sam's got to take their cut with the IRS so after taxes is actually going to cost you 9 and half hours of time to buy this jacket"
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The opportunity cost of spending $150 on a jacket could be over $11,000 in 30 years if that money was invested instead, assuming a compounding return.
"if I invested $150 this $150 in 10 years would be worth not $150 but $300 and in 20 years this money that I would have spent on my jacket wouldn't be $150 it would be about $600 and in 30 years this $150 that I spent on my jacket would have become more than $11,000 if I had just invested the money"
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An avocado costing $0.89 could make four servings of guacamole, costing approximately $0.22 per serving.
"if I go to Target and I buy an avocado right now it is going to cost me something like 89 okay if I go out and I buy this avocado so I'm going draw you an avocado that looks more like a cookie than an avocado but if I paid 89 for this avocado I can make four sides of guac"
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Making green tea at home from a bulk pack purchased at Costco costs approximately $0.24 per glass.
"if you go out to Costco and you buy their big pack of green tea it's going to cost you something like 24 cents to drink one glass of tea"
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The same cup of tea purchased at a nice tea shop costs a minimum of $3.50.
"if you go out and you buy the same tea from a nice tea shop it is going to cost you at a very minimum a very minimum of $350"
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Making guacamole at home costs between $0.25 and $0.89 per serving.
"if you eat your guac at home you are going to be paying somewhere between 25 cents I'm going to round up here to 89 cents for your side of guac"
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A small side of guacamole at a restaurant costs at least $3.
"if you go to a restaurant and you want to get a side of guac it is going to cost you at least $3 for a small side of guac"
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Reviewing utility bills (cable, internet, phone) and comparing them to competitor rates is a strategy to save money.
"I want you to start by taking all of your utility bills so your cable bill your internet bill your phone bills take these bills and now look at what your competitors are charging"
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Automating the transfer of funds from checking to savings immediately after getting paid can prevent accidental spending and aid in saving.
"as soon as you get paid I want you to automatically move some money from your checking account where your money goes into to a savings account that you can't accidentally spend the money"
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Moving savings to an online bank can yield a higher interest rate compared to traditional banks due to lower overhead costs.
"second I want you to consider moving your savings account to an online bank that pays you a higher interest rate than a traditional bank"
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Shopping around annually for insurance (health, home, car), phone, cable, and internet bills is recommended to secure better rates and avoid annual price increases.
"I need you to shop around for these four things every single year because chances are these companies are going to raise your bill every single year"
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Selling unused items like old clothes, furniture, phones, or electronics can generate cash.
"what I want you to do is take the things that you do not need and take them and sell sell them your kids clothes your old furniture your old phone your old TV your old electronics all these things have some value and you can go out and you can turn these old things that are collecting dust into some cash"
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Americans, on average, pay $250 annually in late fees.
"Americans on average are paying $250 a year in late fees alone"
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Browser extensions like Honey can automatically find and apply coupon codes to online purchases, leading to savings.
"like honey and literally as you're checking out if you buy something online honey will come up and it'll tell you oh do you want to save $20 on your order just by using this coupon code yes"
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Utilizing loyalty programs or cashback programs can result in savings on purchases.
"it's the same with using a loyalty program or a cash back program where now you're just saving money by doing nothing except using one of these free programs that are going to save you money"
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Before making an impulse purchase, consider the true cost in terms of time and potential future financial loss.
"what I want you to do is just take a step back before you go out and you buy that sweater on impulse or before you go and you buy something that you don't need just take a step back and ask yourself what is the true cost how much time would it cost you to actually get that and how much money is this going to cost you over the long run"
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The 24-hour rule suggests waiting 24 hours before making a purchase to reconsider if it's truly necessary.
"I want you to follow the 24hour rule which says you want to buy something great now just take a step back wait 24 hours and then decide if you really want to buy it"
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An income of $7,000 per year 50 years ago is equivalent to approximately $50,000 per year in today's dollars.
"50 years ago if you were living off of $7,000 a year he'd be been living pretty decent I mean $7,000 a year 50 years ago is like $50,000 a year today"
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An individual starting at age 21 with a $30,000 annual salary, assuming a 3% annual raise, would be earning approximately $106,000 by age 65.
"if you are 21 today and you're making $30,000 a year by the timer 65 if your income Grows by 3% a year you're going to be making something like $106,000 a year"
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To maintain a lifestyle equivalent to a $30,000 annual income at age 21, an individual might need to withdraw approximately $100,000 per year at age 65, assuming a 3% income growth rate.
"if we assume that $106,000 is what it takes for you to keep the same lifestyle at 65 as you do in 21 that means you got to be pulling out $100,000 a year when it comes time for you to retire"
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A longer investment horizon allows for greater wealth compounding and growth.
"the more time that you have on your side the more your wealth can compound and the bigger your wealth can grow"
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Investing in dividend growth stocks means investing in companies that consistently increase their dividend payments.
"you can invest in high dividend growth stocks these are companies that are growing their dividends"
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A dividend challenger is defined as a company that has consistently paid and increased its dividends for the past 10 years.
"a dividend Challenger is a company that has consistently been paying and increasing their dividends over the last 10 years"
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A dividend champion is defined as a company that has consistently paid and increased its dividends for the past 25 years.
"a dividend Champion is a company that has consistently been paying and increasing their dividends over the last 25 years"
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A dividend king is defined as a company that has consistently paid and increased its dividends for the past 50 years.
"a dividend King is a company that has been paying and increasing their dividends over the last 50 years consistently"
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Investing in value-based companies involves choosing profitable companies with good fundamentals, innovative products, and a strong future outlook.
"investing your money into value based compan companies a value based company is a company that is profitable that has good fundamentals that's creating a good product and that's innovating for the future"
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Growth companies are typically startups or smaller companies that reinvest all profits into expansion, rather than paying dividends, aiming for rapid growth.
"these are your startups your smaller companies these are companies that are investing heavily into their growth so growth companies are not companies that are paying out dividends these are companies that are spending every dollar they have back into their company to grow as big as possible as fast as possible"
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REITs (Real Estate Investment Trusts) are legally obligated to distribute 90% of their taxable income as dividends, leading to high dividend payouts.
"readed stocks stand for Real Estate Investment Trust these are companies that pay out High dividends because these companies make money through rent and the law says that readed stocks are required to pay you 90% of their taxable income through dividends"
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Active investing involves researching and selecting individual stocks, while passive investing entails automatically investing in pre-selected funds with minimal personal research.
"an active investment strategy means that you're now actively researching companies and stocks and you're buying based off of that and passive means you're not really doing much research you just have some money automatically being invested for you"
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Fundamental analysis involves examining a company's financial health and business operations, while technical analysis focuses on stock charts and market trends.
"fundamental research means you're looking at the company itself you're looking at how much money a company is making what their profits are who they management is and how they're innovating technical research means you're looking at stock charts"
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The stock market's short-term price movements are often driven by emotion, but long-term price is determined by fundamentals. Investing is now simplified through online brokerage accounts.
"the stock market is emotional if you want to invest in stocks it is very simple all you have to do is open up a free account with the stock brokerage and then you can buy or sell whatever stocks you want back in the day it wasn't so easy back in the day if you wanted to invest in the stock market you'd have to call up a stock broker and then the stock broker would then have to make a deal with Wall Street and then buy or sell whatever stock you want it was a very long and difficult process but now it is very simple"
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Consistent, regular investing in stocks and ETFs is crucial for building a portfolio over time.
"the key is not to just invest all of your money today the key is to be a consistent investor that means you create a system where every week every two weeks every month you find whatever it is you want to invest in stocks ETFs and you're just going to keep investing your money into these stocks and ETFs that way you can build up your portfolio over time"
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A Dividend Reinvestment Plan (DRIP) automatically uses received dividends to purchase more shares of the company, accelerating wealth growth.
"if you really want to grow your dividends even faster you want to create a driip dividend reinvestment plan where now as soon as you get paid the dividends this money goes back into the company to buy you more shares of the company"
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The value of investments compounds over time as appreciation and reinvested dividends lead to acquiring more shares, generating further dividends and growth.
"now if you're investing in a strong company where the value is going up and they're paying higher dividends the value that you're getting just keeps compounding and compounding because now you're investing your money today you're buying shares of a company that's going up and you're buying dividends that keep increasing and the dividends that you're getting are being reinvested to keep buying more shares of this company which will ultimately pay you with more dividend"
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Investing in Emerging Market ETFs provides diversification by offering exposure to companies and economies outside the United States, acting as a hedge against potential US economic slowdowns or currency issues.
"these Emerging Market ETF these are ETFs that invest in companies overseas and outside of the United States that will now you can get exposure not just in different companies but different countries around the world that would now if the United States economy slows down or the United States dollar has issues or something happens to the United States you're not out of law completely because now you're investing in countries outside of the United States that have their own economies their own governments their own systems and now you're getting exposure to something completely outside of the United States"
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Emerging market ETFs offer potential upside through investment in growing countries and companies that can achieve significant expansion as their economies develop.
"but the whole idea here is you're investing in a growing country so if this country can grow a whole lot bigger their economy can grow a whole lot bigger and you're invested in a strong company but now this company can see a whole lot more upside because the whole country and the whole economy there is starting to grow"
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Consistent, automated investing in ETFs on a weekly or monthly basis is key for any ETF strategy to succeed.
"the key for any of this to work is you have to keep consistently investing your money ETFs and you want to do this automatically this way every week or every month money is automatically leaving your account and going into these ETFs"
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Successful ETF investing requires consistent contributions, passive management, and allowing investments ample time to grow and compound.
"the key for this to work is you have to invest your money consistently passively and let your money grow and compound which means you're just going to let your money sit there and continue growing and building on top of it because your Investments need time to appreciate"
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To secure personal finances and wealth, individuals must adopt an aggressive investment approach, given the declining reliability of social security and pensions.
"I want you to be an aggressive investor actually I need you to be an aggressive investor because Social Security is becoming a thing of the past and pensions are becoming history and so if you want to be able to take care of yourself and take care of your wealth and take care of your family and your finances you got to be the one to put it in place and you got to be the one to start taking action"
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Retirement accounts like 401(k)s and IRAs have contribution limits, meaning individuals need to invest beyond these limits to fund their desired retirement lifestyle.
"your retirement accounts are typically not enough because your 401k and Ira has limits and you got to make sure now that you're not investing your money based off of what the government limits you at you got to be investing your money based off of the way you want to live your life in retirement"
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For rapid wealth growth with higher risk, invest in growth companies/startups. For slower, steadier growth with lower risk, invest in established Blue Chip companies.
"if you want to see your money grow quickly and you don't mind taking on more risk then you should consider investing your money in the stock market especially in growth companies and these kind of more startup companies where these companies are trying to grow as quick as possible as fast as possible there's more risk involved because startup companies can fail and they might not work out but you have the opportunity to see your money grow a whole lot quicker because these are companies that are working really hard to grow as big as possible and as fast as possible if you just want to see slow and steady growth in your money then you can look at investing your money in more Blue Chip companies these Blue Chip companies are your bigger established companies that have already been there for a long time they already have their systems and you're just investing your money in this company that way you can see your money grow slowly"
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Stock picking is challenging and time-consuming. Investing in index funds or ETFs offers diversification, reduced risk, and less effort, allowing participation in overall market growth.
"the stock picking game is not for most people because picking stocks requires a lot of work a lot of research and a lot of upkeep if you're not willing to do that then instead of investing your money in individual companies like trying to find the next Amazon or Google or Facebook then what you can do is invest in something called a fund like an index fund or an ETF because these funds give you exposure to a whole bunch of different companies and so you have less risk you can put in less work but now you're kind of growing with the stock market"
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Dividend-paying stocks and real estate are investment vehicles that generate passive income (cash flow) monthly or quarterly without requiring the sale of assets.
"if you're looking for income where now you can create cash flow or passive income coming in into your account every month or every year where now you can have money in your hands without selling your assets then you want to be investing your money in things like dividend paying stocks because dividend paying stocks typically pay you a check every 3 months or you can invest your money in real estate because now if you own a house or you own an apartment complex now every single month the people that are living in your real estate or using your real estate have to pay you rent every single month"
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Real estate serves as a tangible and secure store of value for cash, as properties are physical assets that people need and desire.
"real estate is also a really good store for your money because if you have a lot of cash and you want to put it somewhere safe then real estate is a good place to do it because now you own something that people need that something want and that you can see feel and touch"
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There are 10 ways to save $1,000 quickly without feeling deprived of enjoyment or life experiences.
"if you just want to save some money quickly but you don't want to feel like you're cutting back and having fun and living your life make sure you watch this video Until the End because I'm going to be going over 10 ways that you can save $1,000 quickly"
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Only 40% of Americans have sufficient savings to cover emergencies like home repairs or car maintenance without incurring debt, leaving 60% vulnerable.
"Americans are not saving enough money just 40% of Americans have the means to protect them from an emergency like a leaky roof or needing to replace their tires which means 60% of Americans the majority of America does not have the cash necessary to protect them from a leaky roof or having to replace the car tires without going into credit card debt or having to go to the bank and having to borrow money"
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Shift the focus from viewing money as a means of purchasing goods (liabilities) to acquiring assets that generate income.
"When I want you to think about money I want you to think about money in terms of how many assets can you buy an asset is something that makes you money"
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Investing in real estate, which generated $250 per month in profit from the first property, fundamentally changed the speaker's perspective on money towards asset acquisition.
"This completely changed when I started investing in real estate because after I bought my first real estate investment property it was making me something like $250 a month in profit"
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To achieve wealth and financial freedom, a minimum of 15% of all earned income must be invested.
"if you want to become wealthy or financially free the first thing you got to do is right now you need to start investing a minimum of 15% of every dollar that you earned"
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The '75/15/10' plan suggests investing a minimum of 15% of income, saving a minimum of 10%, and spending a maximum of 75%.
"our 75151 plan which says for every dollar that you earn 15 cents is the minimum you should be investing 10 cents is the minimum you should be saving and 75 cents is the maximum you should be spending"
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The primary secret to wealth building for average individuals is consistent investing, not building a revolutionary company, finding hot stocks, winning the lottery, or having a high-paying job.
"Investing is the real secret to Building Wealth for regular people it is not building the next Amazon it is not finding the next hot stock before it pops it is not winning the lottery it's not having a job that pays you a million dollars a year"
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A significant majority of Americans (60%) lack sufficient cash reserves to cover unexpected expenses such as home repairs or car maintenance.
"just 40% of Americans have the means to protect them from an emergency like a leaky roof or needing to replace their tires which means 60% of Americans the majority of America does not have the cash necessary to protect them from a leaky roof or having to replace the car tires"
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The average 401(k) contribution rate among American workers is only 7% of their income.
"the average 401k contribution is just 7% of your income"
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Social Security is diminishing in relevance, and traditional pension plans are becoming obsolete.
"Social Security is becoming a thing of the past and pensions are becoming history"
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Negotiating lower rates on bills is presented as a simple and low-effort method to reduce monthly expenses.
"One of the simplest and least painful ways to spend less money every single month is is just to negotiate your bills lower"
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Contacting customer service to inquire about lowering bills is a strategy for reducing expenses.
"you're going to call up the customer service number on your statement and you're going to say hi I was wondering if this anything you could do about my bill because I feel like it's really high"
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Mentioning competitor pricing to customer service can encourage them to match or beat the offer, thus lowering your bill.
"you're going to say oh really okay I saw that your competitor so and so was charging only $25 a month is there any way you can match or beat that I'd really like to stay with your company"
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Requesting to speak with a manager can be effective in further negotiating lower bills, as managers often have more authority.
"if they don't bring your bill lower or they don't bring it low enough that's when you want to ask to speak with the manager because managers typically have more negotiating room"
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Being polite and friendly with customer service representatives can lead to better outcomes in bill negotiations.
"The key here for any of this to work is you need to be nice because customer service agents are getting yelled at all day long by people complaining about their bills if you are nice to them they will be nice to you"
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Selling unused textbooks can generate cash, as demonstrated by making $400 from books that were simply occupying space.
"I had a ton of books in my room that were just taking up space and collecting dust so I went out and I sold a bunch of my textbooks and I made like $400 just selling the textbooks that were doing nothing except taking up space"
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Old phones and electronics that are no longer in use can be sold for cash.
"your old phone your old TV your old electronics all these things have some value and you can go out and you can turn these old things that are collecting dust into some cash"
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Avoiding late fees is crucial as they represent money paid without receiving any added value.
"I cannot stand paying late fees because when you pay for a late fee you are paying for something that you're getting no value for"
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Apps exist that can automate the investment process, ensuring a portion of each paycheck is invested automatically.
"there are apps out there that can automate this whole process for you that way anytime you get paid a portion of a paycheck will automatically be invested"
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Balancing early investment aggressiveness with sufficient time is key to growing wealth and having more money work for you.
"you got to balance it out you got to start investing aggressively early that way you can put more money and have the time on your side that way you can kind of grow your money and have more money working for you"
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As individuals age and have not yet started investing, they need to adopt a more aggressive investment strategy.
"the older you are the more aggressively that you need to invest just because you're older and have not started yet doesn't mean that you can't start it just means you got to be a little bit more aggressive"
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For rapid wealth growth and higher risk tolerance, investing in growth companies within the stock market is recommended.
"if you want to see your money grow quickly and you don't mind taking on more risk then you should consider investing your money in the stock market especially in growth companies"
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For slow and steady wealth growth with lower risk, investing in established Blue Chip companies is advised.
"if you just want to see slow and steady growth in your money then you can look at investing your money in more Blue Chip companies"
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ETFs and index funds offer diversification across multiple companies, reducing risk and effort while allowing participation in stock market growth.
"these funds give you exposure to a whole bunch of different companies and so you have less risk you can put in less work but now you're kind of growing with the stock market"
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Dividend-paying stocks typically issue payments every three months.
"dividend paying stocks typically pay you a check every 3 months"
Pending
Owning real estate, such as houses or apartment complexes, generates monthly passive income through rent payments from tenants.
"if you own a house or you own an apartment complex now every single month the people that are living in your real estate or using your real estate have to pay you rent every single month"
Pending
Consistent, ongoing investment is essential for any investment strategy to be successful; it is not a one-time action.
"the key for any of this to work is you got to be consistent and you got to keep investing your money because investing is not a one-time thing"
Pending
Market crashes present an opportunity to acquire assets at significantly reduced prices ('pennies on the dollar').
"if you see a market crash then come and buy as much as you can then because that gives you the opportunity to buy assets for pennies on the dollar"
Pending
Automating the investment of 15% of each paycheck removes the need for conscious decision-making and ensures consistent saving.
"anytime you get paid 15% of that should be automatically invested that way it kind of happens without you having to think about it"
Pending
Apps are available to automate the investment of a portion of each paycheck, ensuring funds are consistently deployed.
"there are apps out there that can automate this whole process for you that way anytime you get paid a portion of a paycheck will automatically be invested"
Pending
Acquiring assets that generate income leads to financial freedom, allowing one to live without price concerns as the assets fund desired purchases.
"the more assets and income that you'll have that way you can live the life you want without worrying about the price because you got your assets producing income which can fund and buy you whatever it is you want"
Pending
It's possible to save money quickly without feeling like one is cutting back on enjoyment and life experiences.
"if you want to save some money quickly but you don't want to feel like you're cutting back and having fun and living your life"
Pending
Social outings for enjoyment with friends, like having tea, are acceptable, but daily consumption out of habit, rather than genuine desire, is discouraged.
"it is okay to go out and have a cup of tea with your friends or go out to a restaurant once in a while but it is different when you're talking about doing it every single day just because that's what you think is normal"
Pending
Shop annually for car insurance, phone bills, cable bills, and internet bills to secure the best rates.
"your car insurance all the different insurances that you have your phone bill your cable bill and your internet bill I need you to shop around for these four things every single year"
Pending
Drinking water at restaurants instead of ordering beverages like soda can lead to significant cost savings.
"if you are eating in restaurants just drink water you are going to save a ton of money just by drinking water instead of ordering a Coke"
Pending
Lease prices for homes are negotiable.
"even if you're leasing your home you can negotiate the price of your lease"
Pending
Always negotiate prices before making any significant purchase.
"anytime you make a big purchase make sure you negotiate it first"
Pending
Automatically transferring funds to a savings account upon receiving payment prevents accidental spending and aids in saving.
"anytime you get paid you need to automatically move some of your money to a savings account that way you can't accidentally spend it"
Pending
Moving savings to an online bank can provide a higher interest rate compared to traditional banks due to lower operating costs.
"second I want you to consider moving your savings account to an online bank that pays you a higher interest rate than a traditional bank because if your money is saved at a Traditional Bank chances are they are paying you next to nothing"
Pending
Selling old textbooks after graduation can yield a few hundred dollars by converting unused items into cash.
"I graduated law school I had a ton of books in my room that were just taking up space and collecting dust so I went out and I sold a bunch of my textbooks and I made like $400 just selling the textbooks that were doing nothing except taking up space"
Pending
Old furniture that is no longer needed can be sold to generate cash.
"your old furniture all these things have some value and you can go out and you can turn these old things that are collecting dust into some cash"
Pending
Coupon-finding browser extensions like Honey can automatically apply discounts to online orders, resulting in savings.
"literally as you're checking out if you buy something online honey will come up and it'll tell you oh do you want to save $20 on your order just by using this coupon code yes"
Pending
Retail giants such as Starbucks, McDonald's, Pfizer, and Coca-Cola are identified as both dividend-paying and value companies.
"retail companies like Starbucks McDonald's fizer Coca-Cola these are all dividend paying companies that are also value companies"
Pending
Investing in S&P 500 ETFs (like VOO or SPY) provides exposure to the 500 largest companies in the stock market.
"if you invest in one of these two funds you will get exposure to the top 500 companies in the stock market"
Pending
Growth ETFs offer exposure to companies striving for market share acquisition, potentially leading to greater innovation, upside, and growth.
"the growth ETFs are ETFs that gave you exposure to growth and more Innovation and more upside because now you're investing in companies that are smaller trying to acquire more market share"
Pending
Emerging Market ETFs serve as both a hedge against US economic performance and a potential avenue for greater upside, albeit with increased risk, due to the growth ambitions of countries worldwide.
"then we have the Emerging Markets not only here is it a hedge against the United States but it's also Al a way for you to see more potential upside again more potential risk here because you have countries around the world that are trying to grow a lot bigger"
Pending