ilmscore | Middle Class Habits Keeping You Stuck In The Rat Race

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
A decade of sacrifice is recommended to accumulate funds for asset acquisition, leading to wealth building and breaking free from the middle class.
"I'll call it a decade of sacrifice that way you have more money here that way you have more money to buy assets because these assets that you start buying your stocks your real estate your other businesses your own business that's what's going to break you out of the middle class because you're working to invest your money it's not just constantly working to make money so you can have more expenses"
Wealth Building Timeline
Pending
Losses are an inevitable part of investing, and successful investors have experienced more losses than beginners. Understanding this is key to achieving larger returns.
"when you invest your money you can lose that's a risk and it's uncomfortable knowing that you can lose but the reality is you're going to lose when you invest your money and until you understand that you will lose you're never going to be able to see the bigger Returns the goal is to make with more than you lose and every single successful investor and entrepreneur has lost many many times in fact they've lost more times than you've even started but that requires you to get a little uncomfortable"
Investment Losses
Pending
Millionaires primarily become wealthy by developing one strong income stream and then diversifying, rather than starting with multiple streams.
"millionaires don't become millionaires because they've created seven streams of income they become millionaires because they built one stream of income and then Diversified after they became a millionaire"
Multiple Income Streams
Pending
Wealth is defined as owning assets that generate passive cash flow, allowing income generation without selling the investments.
"wealth for me means I want to own assets more particularly for me I want to own assets that pay me with cash flow because I want to get paid without having to sell my investments"
Wealth Definition
Pending
Recessions present opportunities to acquire investments at significantly reduced prices, often 'pennies on the dollar'.
"recessions build more wealth than really any other period because it created an opportunity for you to come in and buy Investments for literally Pennies on the dollar sometimes"
Investment Purchase Strategy
Pending