ilmscore | 10 Crucial Personal Finance Lessons That Transformed My Life

10 Crucial Personal Finance Lessons That Transformed My Life

Published: 2024-06-10
Status: Available | Analyzed

Predictions from this Video

Total: 7
Correct: 0
Incorrect: 0
Pending: 7
Unrated: 0
Prediction
Topic
Status
Consistently tracking and improving expenses, savings rate, and net worth is predicted to lead to an increasingly strong financial position and eventual financial freedom.
"if you're able to track these three numbers and make improvements to them over time your personal financial position will just get better and better and there's no doubt in my mind that you will become financially free"
Personal Finance
Pending
Investing in the stock market for a holding period of over 20 years is predicted to result in no financial loss.
"as long as our holding period can be longer than 20 years it's unlikely that we're going to lose money"
Stock Market Investing
Pending
The initial $100,000 of accumulated wealth is predicted to be primarily composed of personal savings rather than investment returns.
"famously the first 100K will probably be more comprised of savings rather than investment returns"
Wealth Accumulation
Pending
Day trading is predicted to be an unlikely path to becoming rich.
"you likely aren't going to get rich by day trading"
Investing Strategy
Pending
Long-term buying and holding of an index fund is predicted to lead to wealth.
"what will get you wealthy over the long term is buying and holding into let's say an index fund and just simply forgetting about it"
Investing Strategy
Pending
Achieving average investment returns over an extended period of time is predicted to place an investor in the top 5% of all investors.
"if I can just earn average returns for an above average period of time it's going to lead to amount of success that will literally put you in the top 5% of investors"
Investing Performance
Pending
Prioritizing financial security as a goal is predicted to lead to its achievement, while pursuing money solely for lavish spending is predicted to prevent achieving financial security.
"if your goal is to become financially secure you'll likely attain it but if your motive is to make money to spend money on the good life you're never going to make it"
Financial Success
Pending