Published: 2024-06-20
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Predictions from this Video
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Prediction
Topic
Status
Investing $560 per month at an 11% annual return for 40 years could result in an investment portfolio worth over $3.2 million.
"if you took this $560 a month and you invested this money instead that's $6,720 a year and you got the average stock market return which has been historically 11% a year and you do this for 40 years now instead of you owning a car that's worthless you would own an Investment Portfolio that's worth just over $3.2 million"
Pending
Continuing to invest $560 per month at an 11% annual return for 45 years (from age 21 to 66) could result in an investment portfolio exceeding $5.3 million.
"if you kept doing this for a few more years if you do this for 45 years from let's just say the age of 21 to 66 well now instead of having 3.2 million you would have over $5.3 million in your investment account"
Pending
A used car in good working condition can be purchased for around $8,000.
"you can get a used good workking condition car for $8,000 today"
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With a 27% APR, paying only the minimum of $150 per month on a $6,500 credit card debt could result in over $118,000 in interest payments.
"if you're paying 27% APR which is what a lot of credit cards are charging you that means that if you make the minimum monthly payments of just $150 a month it might not seem like that big of a deal but it's going to end up costing you more than $118,000 in interest payments"
Pending
Paying minimum monthly payments on a $6,500 credit card debt at 27% APR could lead to a total repayment exceeding $25,000.
"which means you're going to end up paying more than $25,000 with a small minimum monthly payment to pay off your $6,500 credit card"
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Doubling one's income sooner leads to more money available for investment and wealth building.
"sooner you can double your income the sooner you're going to have more money to be able to invest to build your wealth"
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Acquiring a new skill set that can accelerate income can take anywhere from a few months to a couple of years.
"this might take a couple of years it might take a few months depending on where you are in your career but if you take some time aside and maybe invest some money in this too you can learn a new skill set"
Pending
Inflation between 2019 and 2024 was 22-23%, meaning an item costing $100 in 2019 would cost approximately $122 in 2024.
"between 2019 and 2024 we have seen between 22 to 23% inflation which means if you want to go out and buy something that cost $100 in 2019 you would need $122 today"
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A million dollars held as cash over the last 5 years would have lost over 22% of its buying power, equivalent to more than $220,000, due to inflation.
"if you had a million doll sitting under a mattress over the last 5 years that million dollars would have lost more than 22% of its buying power it would lost more than $220,000 worth of buying power just because of inflation"
Pending
Even with a hypothetical consistent 3% annual return on savings over the last 5 years, a $100 deposit would only grow to $115, representing a loss in real value due to inflation.
"if you were able to get a standard 3% return over the last 5 years on your money well that means that your million dollars over the last 5 years would have grown to $11.15 million or to keep apples to apples that would have meant if you had $100 in the high interest savings account earning you 3% a year... your $100 would only grow to around $115 so you still lost value"
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The S&P 500 saw approximately 80% growth over the same 5-year period, turning $100 into about $180.
"over those same 5 years we saw the SNP 500 grow by around 80% during those same 5 years which means if you had $100 in the SNP p500 the $100 would have grown to around $180"
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Market crashes and recessions are periods where more millionaires are created due to opportunities for aggressive investing.
"market crashes and recessions create more millionaires than any other time because they give you the opportunity to go out and invest more aggressively"
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Utilizing AI for dubbing significantly reduces the time and cost compared to manual translation and recording.
"using artificial intelligence and AI it takes a fraction of the time at a fraction of the cost"
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Stocks can provide quarterly passive income, and real estate can provide monthly passive income.
"my stocks pay me every quarter and my real estate pays me every month"
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