ilmscore | The ONLY 7 Rules You Need To Retire A Multi-Millionaire

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
A 0.85% annual fee on investments can cost over $1 million in fees over a career.
"Do you know how much a teeny tiny little 0.85% fee is going to cost you over your career it's not going to cost you $10,000 or $100,000 or half a million dollar but it can cost you over a million in fees"
Financial Planning Fees
Pending
Expense ratios in 401k plans can significantly impact long-term investment growth, and individuals should check their specific ratios.
"Do you know how much a teeny tiny little 0.85% fee is going to cost you over your career... by the way if you have a 401k you're also paying fees that fee is called an expense ratio so you might want to take a couple minutes after this video to go and check what your expense ratio is on your 401K funds as well"
401k Expense Ratios
Pending
Individuals with financial preparedness and access to capital can capitalize on significant investment opportunities during market downturns like the 2020 pandemic and 2008 crash, buying assets at steep discounts.
"The people that had money and were financially educated were able to make a killing I was able to buy stocks for pennies on the dollar because a stock market was crashing so fast but that only was there for the people that had access to money when the 2008 crash happened it was the same thing the people that had money were able to buy stocks for a huge discount people were able to come in and buy real estate at a huge discount I started buying real estate in 2011 I was buying real estate in some areas for 9 90 cents off 91 cents off"
Investment Opportunities during Market Crashes
Pending
W2 employees face higher tax rates and fewer deductions compared to entrepreneurs and investors, who can access lower tax rates and higher write-offs.
"when you are a W2 employee you are subject to the highest tax rates and the lowest tax deductions versus when you are an entrepreneur or an investor now you can qualify for higher tax write-offs or lower tax rates"
Employee vs. Entrepreneur/Investor Tax Rates
Pending
Becoming an investor allows individuals to benefit from the economic system by owning assets and leveraging tax code advantages like lower rates and potential write-offs.
"as soon as you start investing some money you become an investor and when you become an investor number one you start benefiting from the way that our economic system works because when you're an investor you own a piece of something you own an asset... and the second thing now is you also get to benefit from our tax code as well because our tax code incentivizes investors through lower tax rates and higher potential tax write offs"
Benefits of Investing
Pending