Published: 2024-09-14
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Predictions from this Video
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Prediction
Topic
Status
Interest rates on savings accounts, including high-yield ones, are predicted to decrease due to anticipated Federal Reserve rate cuts.
"Federal Reserve Bank is talking about cutting interest rates soon and if the Federal Reserve Bank starts cutting interest rates well the interest rate that you get on these higher savings accounts even your regular savings account are going to get slashed"
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It's advisable to lock in Certificates of Deposit (CDs) with rates around 5.25% to 5.5% for terms of 12-24 months before the Federal Reserve begins cutting interest rates, to secure guaranteed returns.
"you can also potentially consider locking in a CD a certificate of deposit at a bank before the Federal Reserve Bank starts cutting interest rates because that's a way for you to lock in a potential interest rate return so if you see a bank offering a 5.25 or 5.5% CD you can lock that in for 12 months or 18 months or 24 months and get that guaranteed interest even if the Federal Reserve Bank starts cutting interest rates"
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The average Annual Percentage Rate (APR) on credit card debt is projected to be 24.92%.
"the average APR on that credit card debt is 24.9 2%"
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An initial $867 invested at a guaranteed 24.92% annual return would grow to over $80,000 in 10 years without further investment.
"if you took $867 today and you invested it somewhere where you could get a guaranteed 24.9 2% return and you never invested another Penny because this is what your credit card company is doing after 10 years you would have just over $80,000"
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An initial $867 invested at a guaranteed 24.92% annual return would grow to over $740,000 in 20 years.
"in 20 years you would have over $740,000 in your investment account if you just let that money sit and compound"
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An initial $867 invested at a guaranteed 24.92% annual return would grow to over $6.8 million in 30 years.
"for another 10 years now you would have over $6.8 million in your investment account"
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An initial $867 invested at a guaranteed 24.92% annual return would grow to over $63 million in 40 years.
"if you let this money sit there and compound for another 10 years you would have more than $63 million in your account"
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Buying property directly with $10,000 is difficult; investing in crowdfunded real estate deals is a viable alternative.
"with $110,000 it's going to be extremely difficult for you to go out and buy a property so instead the alternative will be for you to go and invest into some sort of crowdfunded Deal reinvesting or getting exposure to somebody else's real estate deal"
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The stock market has historically averaged around a 10% annual return over the past 50-70 years.
"the stock market on average has grown by around 10% a year over the last 50 to 70 years"
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Investing $2,000 into one's own business has the potential to yield millions of dollars in returns.
"when you invest your money into your own business your $2,000 investment could be worth millions of dollars if you can grow your own business"
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Speculative investments offer the potential for rapid gains but also rapid losses.
"you can make a lot of money very quickly but you can also lose that money just as fast"
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Physical gold is viewed as a form of savings or insurance rather than a traditional investment because it does not generate returns on its own.
"for me physical gold is not an investment they look at it kind of like a hard form of savings to me it is a form of insurance or a type of hard money it is not a real investment because this gold is not doing anything"
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Investing in knowledge can lead to career advancements like obtaining new certificates, negotiating salary increases, or starting side hustles and businesses, ultimately increasing earning potential.
"this could mean getting a new certificate that way you can work a your job this could mean learning how to negotiate your salary this could mean starting a new side hustle this could mean starting a new business this could be finding new ways to earn more money"
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An advisable investment in knowledge starts with free resources (YouTube, podcasts), then books, and progresses to paid courses costing $300-$2,500.
"start with free content on YouTube start with free content on podcast then as you start to learn some more and you find some new topics that you like start to invest in some books 20 bucks 25 bucks start to read a few books on the topic as you start to learn more now you can start to buy some classes $300 $2,000 $2,500"
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Making smart financial decisions today will significantly benefit one's future self in 10 years.
"if you do smart things with your money today in 10 years your future self will thank you many times over"
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