ilmscore | The 7 Money Habits Keeping Americans Poor

The 7 Money Habits Keeping Americans Poor

Published: 2025-07-07
Status: Available | Analyzed

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
To achieve financial independence and quit one's job without lifestyle changes, annual investment income should equal annual job income.
"If you make $80,000 a year from your job, you need to make $80,000 a year from your investment income to be able to quit your job and live your life without changing anything you're doing."
Investment Income for Financial Independence
Pending
Investing $6,700 with an average 25% annual return for 40 years, without further contributions, could result in over $50 million.
"Let's assume you had $6,700 extra today and you invested this money and you never invested another penny again. You invested this money and you got an average 25% return a year and you invest your money for the next 40 years... you're going to have over $50 million."
Time Value of Money (Investment Growth)
Pending
Individuals earning over $50,000 annually can potentially buy back 40 hours of their time per month by outsourcing tasks like cooking, cleaning, yard work, laundry, and driving.
"If you're making over $50,000 a year, well, now it might be worthwhile for you to spend some money on these things to get your time back. And these five things, if you do all five, could buy you 40 hours of time a month."
Purchasing Power of Time
Pending
The average credit card APR is around 25%, making Netflix subscriptions unaffordable for those in credit card debt due to the opportunity cost of time that could be used for earning or learning.
"the average APR on your credit card debt is around 25%. Which means this is the math that your credit card company has done... And at the same time the average American is watching hours and hours of Netflix TV a day. If you are in credit card debt you cannot afford a Netflix subscription."
High-Interest Debt vs. Investment Returns
Pending
A strict rule to only finance items that generate income, excluding personal items like iPhones and cars, even with 0% APR offers.
"Your rule is if it doesn't put money in your pocket, you do not finance it. Yes, this includes your iPhone. Yes, this includes 0% APR. Yes, this includes your car, don't finance it."
Financing Rule
Pending