ilmscore | I read 40 books on money. Here's what will make you rich

I read 40 books on money. Here's what will make you rich

Published: 2023-09-24
Status: Available | Analyzed

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
The author presents a concept from 'The Four Hour Work Week' suggesting that a retired millionaire lifestyle can be achieved by building and automating a business to collect passive income, allowing one to live their ideal life sooner rather than waiting until retirement.
"The four hour work week by Tim Ferriss so when I read this or even when I saw the title I was initially quite skeptical I mean a four hour work week sounded too good to be true but as I got deeper into the book I realized it wasn't at all about working less it was purely about working smarter he talks about how anyone can live a retired millionaire Lifestyle by building their own business automating it and then collecting their income as they go and live their best life or the life that they would usually wait for years and years and years to live when they retire"
Financial Independence
Pending
According to the speaker, 'The Intelligent Investor' by Benjamin Graham suggests that successful long-term investing requires a rational decision-making framework and emotional control, rather than specialized knowledge or high intelligence. This is a principle endorsed by Warren Buffett.
"The Intelligent Investor is a book Warren Buffett read when he was 19 and he still calls this the best book on investing that has ever been written The principles of this book are Timeless and it illustrates how investing over the long term does not require any specialist knowledge it doesn't require being super intelligent or having really deep Insight on anything it just requires two things and that is one a rational framework to make a decision and secondly not letting your emotions override your rational framework"
Investing Strategy
Pending
John Bogle, CEO of Vanguard, advocates for investing in index funds indefinitely as the optimal strategy for beginner investors, asserting their outperformance against primary alternatives and suggesting age-dependent asset allocation between stocks and bonds.
"he invented index fans so naturally he argues how the winning strategy for beginner investors is simple invest in index funds and do it indefinitely he talks about why index funds outperform primary Alternatives and talks about the ideal asset allocation of stocks to bonds depending on your age"
Index Funds
Pending
The author agrees with the principle that the best investment opportunities are often found in familiar products and services encountered in daily life, suggesting this gives average investors an advantage over Wall Street professionals.
"the best investments are often right under your nose in the sense that they align with what we already know and engage with in our daily lives and based on this we actually have a huge advantage over Wall Street Pros"
Investment Opportunities
Pending
The speaker highlights that investing in oneself (e.g., improving money management skills or increasing earning potential through a business or side hustle) is more crucial in the short term than traditional stock market investing, which is typically a slow process.
"Very few touch on the importance of putting money towards yourself before investing in the stock market and I guess those are two very different topics but the truth is investing in most cases is a very long and very slow game whereas investing in yourself whether that's your ability to manage money your ability to make more money through a business through a side hustle that is more important when it comes to the short term"
Personal Development
Pending