ilmscore | Master These 3 Numbers & Get So Rich You Never Worry About Money Again

Predictions from this Video

Total: 7
Correct: 0
Incorrect: 0
Pending: 7
Unrated: 0
Prediction
Topic
Status
Individuals should aim to have 3 to 12 months of living expenses saved for emergencies.
"I want to have money put aside to protect me against an emergency. How much? Somewhere between 3 months to a Year's worth of expenses put aside to protect me against an emergency."
Emergency Savings
Pending
Focus on acquiring assets, such as real estate or dividend-paying stocks/funds, that generate income without requiring liquidation.
"I started investing in this type of cash flow by investing in real estate and then I got involved in the stock market with dividend paying funds and dividend paying stocks but the whole goal here is to buy Investments that pay you without you having to sell."
Cash Flow Investments
Pending
Purchase real estate with the intention of renting it out to generate rental income.
"The way that this works is you go out and you buy this property right here you're not buying it to live in yourself you're buying it to rent out to somebody else."
Real Estate Investing for Cash Flow
Pending
Consider investing in dividend-paying funds, ETFs, index funds, or mutual funds as an alternative to individual stocks for generating cash flow.
"The alternative to this is to invest your money into dividend paying funds on the stock market so instead of investing individual companies which requires a lot of work you can invest in funds ETFs index funds mutual funds that are for the purpose of dividends."
Dividend-Paying Investments
Pending
Building significant income from cash flow investments typically takes around 10 years of consistent effort and reinvestment, with minimal returns in the first few years.
"It's going to take you a lot of time to see any real success. I call it a decade of sacrifice but if you stick with it and you keep investing more money as you make money you keep reinvesting it well the first few years you're not going to see anything year one year two year three it's it's no return... you're 10 you start to make a little bit of a significant income from the cash flow from your Investments."
Time to See Returns on Cash Flow Investments
Pending
Achieving financial freedom includes eliminating consumer debt, opting to purchase items outright rather than financing them to avoid payment stress.
"The third part of this Financial Freedom to me is not having any Consumer Debt because I don't want to have to stress about money and what that means is I don't want to finance something 0% epr I want to buy it outright so I don't have to worry about the payments."
Consumer Debt
Pending
The speaker has chosen to own rental properties outright, without any associated debt.
"For me my rental properties I have no debt on my rental properties right now."
Real Estate Debt
Pending