ilmscore | 11 Money Habits Keeping YOU Poor

11 Money Habits Keeping YOU Poor

Published: 2023-06-14
Status: Available | Analyzed

Predictions from this Video

Total: 4
Correct: 0
Incorrect: 0
Pending: 4
Unrated: 0
Prediction
Topic
Status
A $100 shirt paid with minimum credit card payments (assuming ~18% interest as mentioned later) will ultimately cost $214.
"if you bought a new shirt for a hundred dollars and you just made the minimum payment on a credit card over time guess how much an interest you would pay on that hundred dollar t-shirt the total cost of that t-shirt would actually be 214 dollars"
Credit Card Debt Cost
Pending
A person investing $5,000 annually starting at age 25, earning a 7% average market return, will have over $1,000,000 by age 65.
"let's say you're the age of 25 when you start investing and you're able to put five thousand dollars a year into your retirement account getting a seven percent average return from the market by the time you're 65 years old you're going to have an ending balance of a million dollars and some change"
Retirement Savings
Pending
A person investing $5,000 annually starting at age 35, earning a 7% average market return, will have around $500,000 by age 65.
"if you wait till the age of 35 to start investing and you start doing 5 000 a year and trying to compound that same amount guess what by the time you're 65 you're only going to have an ending balance of around five hundred thousand dollars"
Retirement Savings
Pending
An individual who starts investing $5,000 annually at age 25 in a retirement account, assuming a 7% average market return, is predicted to accumulate over $1 million by age 65.
"let's say you're the age of 25 when you start investing and you're able to put five thousand dollars a year into your retirement account getting a seven percent average return from the market by the time you're 65 years old you're going to have an ending balance of a million dollars and some change"
Investment Growth
Pending