How Come No One Talks About These 7 Wealth Killers
Published: 2024-12-09
Status:
Available
|
Analyzed
Published: 2024-12-09
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The trend of high car payments is expected to continue.
"this trend does not look like it's slowing down anytime soon"
Pending
In the early 2000s, there was a government initiative to promote homeownership in America.
"George Bush said back around 2003 This Administration the White House will consistently strive to promote an ownership Society in America we want more people owning their home it is in our national interest to make more people own their own home"
Pending
The early 2000s saw a significant push for homeownership, with the narrative that it was the key to building wealth and getting rich.
"in the early 2000s there was a big push for everybody to be a homeowner in America because everybody talked about how home ownership is the key key to Building Wealth in America and everybody's going to get rich by owning a home and so it was very much encouraged for everybody to own a home even if you can't afford it"
Pending
The encouragement for everyone to own a home, even if they couldn't afford it, contributed to the 2008 housing market collapse.
"and then that ultimately led to the 2008 housing market collapse where a lot of people lost a lot or everything"
Pending
The average American watches approximately 2-3 hours of television or streaming services daily.
"the average American is watching more than 2 hours of television a day it's actually closer to 3 hours of Television a day but I'm going to round down to 2 hours of television or Netflix or Hulu or Amazon Prime Time a day"
Pending
Over the next decade, the average person will spend approximately 7,300 hours watching television.
"over the course of the next decade you're going to watch about 7,300 hours of Television time"
Pending
Watching 730 hours of TV in a year equates to more than 30 full 24-hour days.
"730 hours of TV time over the next year is more than 30 days 30 24hour days of TV over the next 12 months"
Pending
It is advised to have at least as much in assets as the cost of a luxury item like a $10,000 Rolex before purchasing it.
"if you have a $10,000 Rolex you better have at least $10,000 in assets before you buy that thing in cash"
Pending
A rule of thumb for luxury purchases is that if you cannot afford to buy five of an item, you cannot afford to buy one.
"the rule of thumb that I have especially when it comes to luxuries is a rule of five if you can't buy five of them you can't afford one of them"
Pending
To afford a $10,000 Rolex, one should have at least $50,000, implying a 5x rule for luxury purchases.
"you want to buy that $10,000 Rox you better have at least $50,000"
Pending
To afford a $50,000 car, one should possess at least $4 million in wealth.
"you better have at least A4 million in wealth before you buy the $50,000 car"
Pending
Daily small expenses like coffee and lunch can add up to approximately $3,000 per year.
"we're talking about an additional $3,000 a year"
Pending
There are advertised programs for $9.97 that promise a $10,000 monthly income through a five-step system without working.
"buy my program for $9.97 and I'm going to show you how you can follow my five steps system to $10,000 a month without even working sounds nice right"
Pending
The speaker has invested over a million dollars in online education, consulting, and coaching.
"I have spent a lot of money probably upwards of a million dollars at this point of online education and Consulting and coaching"
Pending
A significant financial problem arises if one partner is focused on saving and earning while the other is spending all the money.
"if you're working to save money you're working to earn money and your partner your boyfriend girlfriend husband wife is spending everything you got a problem"
Pending
Divorce is presented as a financially costly event.
"divorce is expensive"
Pending
After taxes, a $5,000 monthly income results in approximately $3,833 remaining.
"Let's assume that you make $5,000 a month after taxes you will be left around $3,833 a month"
Pending
After covering rent, mortgage, groceries, and some discretionary spending, there is no money left for saving and investing.
"and then you have no money to save and invest"
Pending