Tag: Business
Personal finance expert Suze Orman’s number one investment right now
Jason 0 Comments Retire Wealthy Retirement Planning
SO THERE YOU SEE SUPPLY AND DEMAND AT WORK WITH INFLATION AT A HISTORIC HIGHS IN THE STOCK MARKET CHOPPY, OUR NEXT GUEST SAYS THE NUMBER ONE INVESTMENT RIGHT NOW IS I-BONDS HERE TO EXPLAIN IS A PERSONAL FINANCE POWER PLAYER AND OUR DEAR FRIEND SUZE ORMAN HOST OF THE WOMEN AND MONEY PODCAST. SHE IS ALSO CO-FOUNDER OF THE EMERGENCY SAVINGS FIRM SECURE SAVE SUZE, IT IS ALWAYS GREAT TO SEE YOU. WELCOME. GOOD TO HAVE YOU BACK WITH US. LET'S TALK ABOUT THE I-BONDS WHICH I DIDN'T EVEN KNOW ABOUT, BUTMY NEPHEW-IN-LAW SAID YOU HAVE TO GET THESE I-BONDS. EXPLAIN TO ME WHAT THEY ARE, HOW THEY WORK, HOW I BUY THEM AND FROM WHOM. >> NOW SO YOU BUY THEM FROM THE TREASURY, DIRECTLY FROM THEM SO YOU GO FROM TREASURYDIRECT.GOV IT IS THE ONLY PLACE THAT YOU CAN BUY THEM, NUMBER ONE THEY RANGE IN PRICE.
YOU CAN INVEST FROM $25 ALL OF THE WAY UP TO A MAXIMUM PER PERSON OF $10,000, ALTHOUGH THERE ARE WAYS TO DO IT WHERE YOU CAN PUT IN UP TO 30,000 IF YOU HAVE A TRUST AND/OR A BUSINESS WHEN YOU INVEST IN AN I-BOND, I STANDS FOR INFLATION, YOU HAVE GOT TO MAKE SURE THAT FOR ONE YEAR YOU DO NOT NEED YOUR MONEY AND THE REASON IS FROM THE TIME YOU PUT IT IN TO ONE YEAR YOU CANNOT TOUCH IT. FROM YEAR TWO TO FIVE THERE IS ONLY A THREE-MONTH INTEREST PENALTY. THAT IS HOW THEY WORK. THEY ARE ATTACHED TO CPI SO RIGHT NOW WHEN THEY ANNOUNCED IN MAY, THE CPI THE YIELD ON THE SERIES I BONDS WERE GUARANTEED AND ANNUALIZED AND IT'S GUARANTEED TO YOU SO THEY CHANGE EVERY SIX MONTHS THE INTEREST RATE CHANGES EVERY MAY AND NOVEMBER SO FROM MAY UNTIL NOVEMBER EVERYBODY WHO BUYS ONE RIGHT NOW WILL BE GUARANTEED AN ANNUALIZED YIELD OF 9.62% STATE INCOME TAX-FREE OBVIOUSLY YOU'RE ONLY GOING TO GET THAT FOR SIX MONTH, BUT THAT'S STILL 4.81% ON YOUR MONEY.
WHEN THEY RESET COME NOVEMBER, LET'S SAY THEY RESET EVEN LOWER. LET'S SAY THEY RESET AT 7.11 WHICH IS WHAT THEY WERE PAYING BEFORE THEY RAISED TO 9.62, YOU ARE GUARANTEED THAT FOR THE NEXT SIX MONTHS ON AN ANNUALIZED YIELD SO THAT'S, LIKE, 3.56%, HALF OF THAT FOR SIX MONTH BECAUSE THAT'S WHAT YOU'RE GUARANTEED SO FOR THE YEAR IT'S 8.37% THAT'S ESSENTIALLY HOW THEY WORK THEY'RE FABULOUS THEIR MATURITIES ARE FOR — GO ON >> I DON'T MEAN TO INTERRUPT YOU, BUT I WANTED TO ASK YOU THOSE NUMBERS THAT YOU JUST — AND I GET IT, YOU EXPLAINED IT PERFECTLY.
THEY RESET EVERY SIX MONTHS AND ARE YOU GUARANTEED UNDER THIS PROGRAM TO MAKE A YIELD IF YOU HOLD THE BONDS THAT IS ABOVE THE THEN-PREVAILING RATE OF INFLATION? >> SO WHAT HAPPENS IS YOU ARE ABSOLUTELY GUARANTEED, AND WHAT'S SO GREAT IS THAT THE ONLY WAY A FINANCE PERSON CAN EVER USE THE WORD GUARANTEE SIDE USUALLY WITH A TREASURY INSTRUMENT BECAUSE IT'S GUARANTEED BY THE AUTHORITY OF THE UNITED STATES GOVERNMENT NO COMMISSIONS OR ANYTHING SO ONCE THEY DECLARE THAT RATE ON MAY 1st AND NOVEMBER 1st YOU ARE GUARANTEED FOR WHENEVER YOU BUY IT BETWEEN THOSE PERIODS, FOR SIX MONTHS YOU ARE GUARANTEE THE RATE THAT THEY DECLARED. AGAIN, THAT'S AN ANNUALIZED YIELD, SO IT'S ONLY REALLY GUARANTEED FOR SIX MONTHS UNTIL THEY RESET YOU KNOW, TYLER, I GAVE A MASTER CLASS ON THIS ON THE WOMEN AND MONEY PODCAST ON THE APRIL 17th EDITION OF IT.
EVERYBODY SHOULD LISTEN TO IT BECAUSE IT TELLS YOU ALL THE INs AND OUTs, EVERYTHING YOU NEED TO KNOW THIS IS AN INVESTMENT. I'VE BEEN DOING THESE SINCE 2001 >> THIS DOES MAKE AN AWFUL LOT OF SENSE YOU EXPLAINED IT VERY WELL IN YOUR FIRST ANSWER IN TALKING ABOUT THE 9.6% RATE. WE UNDERSTAND THAT THAT DOES CLEAR THE LEVEL OF INFLATION, BUT IF INFLATION IS SOMETHING LIKE 8.6%, AREN'T YOU MORE OR LESS JUST PROTECTING THE VALUE OF YOUR MONEY RATHER THAN REALLY GROWING IT EVEN IF INFLATION IS ONLY APERCENT LESS THAN WHAT YOU'RE MAKING. >> COURTNEY, YOU GOT THAT RIGHT, BUT DON'T YOU WANT IN MARKETS LIKE THIS TO HAVE A POSITION OF YOUR MONEY ABSOLUTELY RO TEKTED? WHERE ARE YOUGOING TO GO YOU CAN'T GO TO REGULAR BONDS, BECAUSE BONDS IF YOU ADOPTED IN BOND FUNDS FOR GROWTH, YOU'RE DOWN 10% OR 15%. YOU'RE DOWN SIGNIFICANTLY IN THE STOCK MARKET THERE HAS GOT TO BE A PORTION OF YOUR MONEY, WHATEVER THAT IS THAT YOU WANT PROTECTED, YOU WANT ESSENTIALLY IN CASH AT LEAST WHERE IT'S KEEPING UP WITH INFLATION WHICH IS EXACTLY WHAT THIS WILL DO VERSUS YOU'RE IN A MONEY MARKET ACCOUNT OR A CD OR WHATEVER IT IS AND YOU'RE GETTING 3% WHERE YOU'RE LOSING MONEY.
SO THIS IS A GREAT PLACE TO PUT YOUR — YOU MENTIONED AFTER FIVE YEARS, YOU MENTIONED 27 YEAR IS PUT FOR 30 YEARS >> I SEE, AND YOU CAN REDEEM THEM ANY TIME AFTER THE FIRST YEAR FROM THE YEAR TWO THROUGH FIVE THERE IS A THREE-MONTH INTEREST PENALTY AFTER THE FIFTH YEAR YOU CAN REDEEM ANY — YOU CAN REDEEM ANY TIME. >> WITHOUT ANY PEVNALTIES WHEN S EVER REALLY, ESSENTIALLY.
SO YOU'RE IN THERE FOR A YEAR AND YOU REDEEM AFTER THAT, BIG DEAL. >> FINAL QUESTION WHICH COURTNEY TOUCHED ON AND THAT IS THAT THIS IS FOR A PORTION OF YOUR MONEY, IDEALLY MONEY YOU DON'T NEED TO TOUCH. IN SOME WAYS LIKE STOCKS, BUT YOU ACKNOWLEDGE THAT THERE IS WITH THIS KIND OF SAFETY MONEY AN OPPORTUNITY COST WHICH IS TO SAY IT'S NOT GOING TO BE YOUR GROWTH MONEY THE STOCK MARKET MIGHT RETURN YOU OVER THE FIVE YEARS OR THE TEN YEARS YOU HOLD THIS BOND MUCH MORE THAN 8%, 9%, A LITTLE ABOVE INFLATION, RIGHT YOUR GROWTH MONEY IS A DIFFERENT THING.
>> ABSOLUTELY. YOU HAVE GROWTH MONEY. YOU HAVE EMERGENCY SAVINGS ACCOUNT MONEY THAT WOULD NEVER GO INTO SOMETHING LIKE THIS BECAUSE YOU CAN'T AFFORD TO LOCK THAT UP FOR A YEAR, BUT YOU DO HAVE A PORTION OF YOUR MONEY THAT YOU WANT RIGHT NOW SAFE AND SOUTHBOUND BECAUSE EVERYBODY IS SO FREAKED, AND AT THESE INTEREST RATES, IF INFLATION CONTINUES THESE ARE A BIG WINNER BIG, BIG, BIG. >> WHAT'S THE PODCAST AGAIN, GO BACK.
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How to Make Wealth look Undesirable: Succession
Jason 0 Comments Retire Wealthy
have a drink have a drink you beautiful kabad
crane [ __ ] you yeah oh well well I I got to say Well done you won yeah yeah money [Music]
wins Here's to Us it's impossible to talk about succession without talking about money because
every scene is basically drowning in dollar signs the Roy are a who owns a vast media Empire
anchored by Amusement parks and a reactionary right-wing News Channel as a result they live
in a world that is totally defined by wealth they wear the finest suits and take private Jets from
luxurious penthouses to Countryside mansions, they eat the fanciest food they drink the fanciest
wine they have extravagant leisure activities every single centimeter of their lives has been
tailor made to ensure they get only the best of the best taken as a whole The Show paints a picture of what it looks like to live with all the money in the world conceptually it's a
fantasy we've seen played out on screen lots of times before from popular TV series like Dynasty,
Dallas Gossip Girl billions and big little lies to hit movies like crazy Rich Asians and the Wolf
of Wall Street how to to 1% lives is a major part of our media diet some offer a pure celebration
of access while some cast a more critical eye.
But pretty much all of them give us the vicarious
thrill of watching the Filthy Rich play with their money it's pretty straightforward wish fulfillment.
Most of us live the majority of Our Lives penned in by Bank balances that are never as high as
we'd like so it's no wonder we lust after the idea of a wife where all those limitations just
melt way and we can do whatever we want all the time look here's the thing about being rich
okay it's [ __ ] great okay it's like being a superhero only better you get to do what you want
the authorities can't really touch you you get to wear costume but it's designed by Armani there is
a term for this 'Wealth P*rn' which describes media that exists primarily so we can salivate over
designer clothes and Lux Apartments the term was coined by journalist Harry P in the year 2000
it described the fawny news coverage of eating the wealthy in Publications like fortune and Forbes.
But
the term 'Wealth P*rn' becomes more loaded when it's applied to Media that's ostensibly lampooning
this excess while arguably indulging in it. The Wolf of Wall Street and Billions for instance have
both Continually divided critics as to where they fall on this spectrum, so why are we so attracted
to stories set within society's Upper Crust. Most obviously wealth really looks good up on screen
from Lux Apartments to designer clothes to Exotic locals and the cinematography typically luxuriates
in It. Cameras whir to capture the madcap excess or Glide serenely across each perfectly manicured
set. But that's not quite what we get in succession their Apartments might be huge and their dinners
might might cost more than any car I've ever owned, but the world of the Roys rarely looks
all that desirable, visually this comes from the guerilla style of the cinematography the show
uses free roaming cameramen to create a voyeuristic and lo-fi aesthetic.
This adds a DIY clumsiness
to a designer World it also avoids the indulgent Poise style as most media about the 1%. One of
the show's directors Mark Mylod told Indiewire that when filming the Roys in any opulent location he
always makes sure the character is leading the cinematography rather than having a camera
pan lovingly across a fancy set it's almost an anti-athetic in terms of The Craft he says
The show purposely avoids depicting Wealth as synonymous with beauty, the frequently unflattering
lighting shows every dark under eye Circle and wrinkle to Perfection and the beige color
palette becomes overwhelming in its blandness as series Creator Jesse Armstrong describes
their lives are somewhat denuded of color. In short for once being filthy Rich doesn't look
filthy sexy and importantly the series used onset wealth advisers de the cast fully inhabit the
world of the one% grounding it into day-to-day realism of Life as a rich person The Show was able to
effectively de-eroticize the whole thing [Music] for example one piece of advice the cast received
was about how they made their way in and out of the helicopter notice that none of them ever duck
the way we'de expect most people to.
That's because when you've been traveling out way since childhood
it's just natural is stepping onto a train or climbing into a car which is maybe like Why Kendal
was so comfortable inside a helicopter that he actively tries to drunkenly Pilot one because here's
the thing if you dead Rich your whole life these idea of being rich just isn't all that interesting
Cinderella stories like crazy Rich Asians and Rise and Fall Tales like Wolf of Wall Street are
so effective because they give the audience an avatar who enters the world of the wealthy with
the same dwide Wonder as we would because Wealth P*rn is really for those of us who will never experience
that kind of opulence or unfettered freedom in real life in contrast succession demystifies wealth the
show pulls back the curtain to reveal the drudgery and degradation required to create the seemless
luxury.
Like when the Roys are getting ready to have any decadent Feast rather than simply having
their tasty treats appear on screen Fully formed the show depicts every bit of the Pain sticking work
their staff takes to prepare and serve it and then Logan gets mad about a bad smell and oders
the whole thing destroyed before a single bite has been eaten and I don't want all this sat around
in the stink Pizza we'll have pizza and so we get to watch that same Army of service clear
away a few rent checks worth of a haute quisine and where succession does show A Cinderella Story it's not
quite such a whirlwind romance.
Conner whose best friend is Ferris Buelle is initially paying Willa to
spend time with him as an escort before the two of them decide to go steady who but even after the
relationship remains transaction Willa shacks up with a delusional rich guy twice her age because
it's the only realistic hope she has of funding her own creative Ambitions no matter how ill
advised they might be you I don't need to see the reviews you know I don't care exactly the
plays brilliant who cares what some old white dude from The New York Times says it's easy to
write Willa off as a Sly opportunist but Connor is equally complicit lording his money over her to
get what he wants and that brings us to the second part of wealth p*rn's appeal cuz it's never just
about the pretty things that money can buy but the power that comes with it enough of this [__] will
make you invincible able to conquer the world and eviscerate your enemies.
Yet another Rich guy
thinks money makes you a defecto Super heroe , which recent comic book Cinema has confirmed
what are your superpowers again I'm rich but even if you are building Batmobiles or bulletproof
armor wealth gives you immunity from the rules which govern most people's lives any problem
you encounter can be whisked away in a lurry of dollar bills yeah yeah money wins there is a
somewhat dangerous appeal in the idea of being so strong that we can bend the world around us to our
wills and the Roys are all high on this particular power fantasy one of the great joys of watching
Succession is the Stiletto sharp dialogue which turns each conversation into a knife fight you don't
do many of these sioban uh no I'm I'm hard to get I'm exceedingly easy to get he sure you'll
understand but he's going to need to offer an alternative face for this discussion alternative
face what the [_] does that mean if I drop my pants I can show you an alternative face how does
that sound.
These moments also give us an insight into what life at the top as life the Roy's brutal
way of talking to one another is a manner of establishing dominance generally bored of their
extreme wealth the power it gives them is the real high and it's a vital part of their identity
too they all have to believe that they are corporate Warriors battering your way to the
top of the food chain through cunning resilience and ruthlessness in reality the Roys are rarely
as impressive as they think they are they like to imagine themselves playing four-dimensional
chess as they plot and scheme their way toward the world domination but the truth is that the
Roys are constantly bumping up against their own shortcommings. Kendall is an insecure mess and torn
between a desperation for his father's approval and a furious desire to take revenge upon him. You
have a hard time finding a happy medium between worshiping him and wanting to kill him he's vaguely
pathetic even needing a personal driver for his badass motorcycle his anxiety leads him to bungle
two separate coup attempts and it takes nearly losing everything for him to finally take decisive
action.
Roman has his own inadequacy issues which have left him emotionally detached and sexually
um incapacitated we never [ __ ] well yeah we do no we don't. He covers this with an air of abrasive
bravado but when push comes to shove he is still a little boy terrified of his father. Siobhan often
seems like the smartest and most confident sibling but he and she continually overplace her hand and
finds herself caught up in Logan's games and then there's Connor who is so insulated by wealth that
he has effectively lost touch with reality he's a grown man living out quixotic fantasies until
the money rise it's a half a mill a week I've got AusterIitz. I've got my campaign and I'm not super
liquid so I'm just I'm just wondering if I can hit you for like like uh a little $100 Mil a little
$100 Mil yeah well you maybe maybe but you have to quit your campaign and at the end of the day
every one of these kids just wants a kiss from Daddy [ __ ] what the [ __ ] Frank how can we
solve this this you still want to pursue this yeah of course I want to pursue I want to announce
this is part of the whole thing this is the secret sauce do we need to sweeten the offer you want to
bump the offer another point do you want to call your dad do I want to call my dad no I don't want
to call my dad do you want to call your dad no no do you want to call your dad does anybody want to
call their dad okay nobody wants to talk to their [ __ ] dad so we've started so let's buy this
[ __ ] company I'm pushing the bit to 120 okay okay the truth is that none of the Royers of the
machia ellian Geniuses that they think they are when their plans succeed it's rarely because they
intellectually outmaneuvered their opponents or executed some daring scheme is just because they
are really really rich clearly Kendall imagines himself as the Unstoppable boardroom Warrior
laying waste to his enemies and seizing what he wants reality he's just a rich kid playing his
dad's money he wasn't able to persuade seduce or intimidate his opponent into a deal so he's just
thrown money at him until he agrees there's no marriage to his victory no proof of Talent OR
character he wins as the Roy always do simply because of how rich he is cuz I'm going to stuff
your mouth with so much money you're going to Gold figurines non-disclosure agreement non- voting
shares non-compete I'm going to lock you in a golden cage you with a silver dildo and pay you
so much you sing whatever song I want and that's ultimately who the Roy are that's why the show is
able to avoid the wealth corn trap everything in the Roy light what's expensive and yet practically
n of it seems desirable it's clear that we aren't watching the Masters of the Universe go about
their dobly business instead they're just a bunch of entric insecure [ __ ] lording her power so
that they can feel important and even their most extravagant moments tend to be tied up to bet it
they'll buy out an entire theme park to in back their children's love or barter holidays with
their mother to save their dad a piece of real estate ultimately all of their Adventures boil
down to greedy squabbles over extra dollars I love you uh-huh great thanks no I don't know I love you
I love this rock bye Rock you're dead what does it mean I won't let anything happen to you you told me you told me you wanted an open
relationship on our [ __ ] wedding night oh so you been stewing on
that well yes I have been St enough actually I'm not a hippie shift
I don't want to stuff a dildo up my I don't want I don't want to
do threesome okay on our wedding night bang Shanghai into a into
a open borders free [ __ ] trade deal it was just an idea well that's that's
a biggie just to throw in at the their world for all its luxurious fitions is cold empty
and real lessly Petty and so are they Rich's kaida makes them so compelling you proposed to
me you proposed to me in my lowest [ __ ] E my dad was dying what was I supposed to say perhaps
no I didn't want to hurt your feelings oh thanks thanks for that yeah you really kept me safe
while you ran off to [ __ ] the phone book we can to see the broken Humanity that they have
tried to paint over in Golden Leaf the parts of him that are desper for acceptance terrified of
failure and haunted by childhood demons and this is actually pretty fitting while a lot of us
might acquaint massive wealth with happiness a number of studies suggest things are more
complicated there's conflicting data but one influential study actually found that money stops
quote unquote buying happiness once you reached a $75,000 salary what's more a striking number of
billionaires become clinically depressed upon hitting a big some researchers think that this is
because material wealth can isolate you from other people leading you to Value Independence
over human connection and that's possibly because only lots of fancy makes you feel more
competitive with those around you it this kind of isolation and lack of human connection
is Right throughout succession we see it in the jumpy dislocated camera moves and sterile
environment and in the way the characters treat each other when a recently sord of kidnapped
Roman TR has to share his feelings with the siblings he is roundly mocked for showing even
a trace of vulnerability our feelings how am I the mature one here we don't have any feelings
what are you talking about in this way rather than gawking at their Ladish Lifestyles or
brilliant power moves the show reveals the character's deeply damaged course their pettiness
their jealousy their constant self- sabotage and there's nothing pornographic about it however much
we enjoy watching them screw each other like to be married to a man with two [ __ ] if I was to give
Tom a letter grade i' give him a B+ for Bad Plus terrible that was all [ __ ] me they hit me from
every [ __ ] sign it's okay Tom you did good oh I didn't get enough resour spend on me okay what
the [ __ ] is going on I'm getting I was [ __ ] from every direction are you [ __ ] me shiv Tom
huh I'm the psy I'm the meat and the sandwich as Jerry is a Bulletproof Monk Kendall Lan in reserve
I'm the meat and the [ __ ] sandwich Cal down oh [ __ ] fu oh [ __ ] oh [ __ ] oh [ __ ] okay
oh [ __ ] guys everything is fine nothing bad is happening here oh man oh my God [ __ ] man
I just turned down a quarter of a billion and now I'm going to jail forever cuz of this [ __ ]
guy man this [ __ ] you outside out [ __ ] side now unbelievable [Music] Jess we keep an eye on you okay it's all right what a
[ __ ] show what a [ __ ] [ __ ] show
2 Laws for Generating Wealth
Jason 0 Comments Retire Wealthy
Any successful plan to generate and sustain
sufficient wealth must incorporate two very basic rules: 1) Generate Investible Savings. The first step to unlock the path to building
tremendous wealth is not about investing at all. It is about generating Investable assets. For most people this begins by terminating
any expensive debt such as credit card or high interest debt. The reason being that expensive debt increases
one’s expenses and eats into investable resources. Second step for most people is redefining
certain parts of their remaining income as compulsory payments that must be done. That payment is, in fact, the first step of
savings for investing. The third step for most people is to invest
time and entrepreneurial energy to increase their gross income. Getting a better job, a promotion, a new skill
or starting a business that can generate profits disconnected from your immediate personal
labor resources. The fourth step would be establishing some
kind of an emergency fund and getting sufficient insurance to cover yourself against unpredicted
expenses. When the four steps are done, you can start
generating sufficient investable assets that can be put to work growing over a minimal
period of five years.
When this is done, you can proceed to the
next rule. 2) Invest investable savings into exponentially
growing assets, growing for many years while limiting the taxes you pay. Once you generate investable assets and are
ready to put them to work, comes the next tough question: Where should I deploy my investable
assets to maximize my investment and to generate more wealth? You should know that any and all investable
assets you will ever encounter can belong to one or another of these two categories:
Exponentially Growing Assets or Regular Growth Assets.
If you ever hope to generate sufficient wealth
from your investable assets, you must learn how to separate your exponential growing assets
from your regular growth assets and then make sure you are sufficiently exposed to the exponentially
growing asset class. Exponentially growing assets are a rare creature
few understand, even among seasoned investors. There is a set of strict rules to become eligible
for the coveted title: A) At their very core, they must yield very
high returns on internally invested resources and expenses – such as inventory, labor, plant
& factory or R&D; What sets exponentially growing assets apart
from any and all investable assets is their ability to make a large profit on a small
base of required resources. The more expenses and investments one needs
to make a profit, the less profit is left to increase the value of the asset itself. B) They must have sufficiently large market opportunities
ahead of them to enable many years of sales growth displaying high returns on invested
resources; While many possible assets can generate high
rate of return, exponentially growing assets are not a one-off occurrence or limited activity
and must be able to maintain their course of growth over many years to build sufficient
appreciation for their owners.
C) They must provide extensive internal reinvestment
opportunities to use profits at similarly high returns To really become an exponentially growing
asset capable of building imaginary amounts of wealth, the asset must provide managers
the ability to use the rivers of cash generated regularly from the asset in a similar high
rate of return. When these criteria aren’t met, owners soon
realize the resulting rivers of profits do not grow at a high rate and the growth in
wealth soon slows down due to the ever-growing profits invested in lower rate growing assets.
D) They must be led by honest, high integrity,
talented managers, who are actually risking their own wealth alongside their investors. For these executives, a small increase in
the share price will generate much greater wealth than any increase to their paycheck. Executives of public companies have the ability
to loot the company’s coffers or engage in wealth destruction in an infinity of ways. To avoid that, check to see how large your
CEO’s stake in the company stock is before choosing any investment.
As long as the company still embodies the
4 rules that we covered here, you stay invested; this is the one last requirement when investing
in exponentially growing assets. ALL exponentially growing assets see their
stock price cut in half several times during the decades, usually due to different parameters
that don’t reflect the actual company value. Holding these assets through turbulences,
and even adding to them, requires temperament and familiar understanding of the business,
which results in the conviction to stay the course..
Personal finance expert Suze Orman’s number one investment right now
Jason 0 Comments Retire Wealthy Retirement Planning
SO THERE YOU SEE SUPPLY AND DEMAND AT WORK WITH INFLATION AT A HISTORIC HIGHS IN THE STOCK MARKET CHOPPY, OUR NEXT GUEST SAYS THE NUMBER ONE INVESTMENT RIGHT NOW IS I-BONDS HERE TO EXPLAIN IS A PERSONAL FINANCE POWER PLAYER AND OUR DEAR FRIEND SUZE ORMAN HOST OF THE WOMEN AND MONEY PODCAST. SHE IS ALSO CO-FOUNDER OF THE EMERGENCY SAVINGS FIRM SECURE SAVE SUZE, IT IS ALWAYS GREAT TO SEE YOU. WELCOME. GOOD TO HAVE YOU BACK WITH US. LET'S TALK ABOUT THE I-BONDS WHICH I DIDN'T EVEN KNOW ABOUT, BUTMY NEPHEW-IN-LAW SAID YOU HAVE TO GET THESE I-BONDS. EXPLAIN TO ME WHAT THEY ARE, HOW THEY WORK, HOW I BUY THEM AND FROM WHOM.
>> NOW SO YOU BUY THEM FROM THE TREASURY, DIRECTLY FROM THEM SO YOU GO FROM TREASURYDIRECT.GOV IT IS THE ONLY PLACE THAT YOU CAN BUY THEM, NUMBER ONE THEY RANGE IN PRICE. YOU CAN INVEST FROM $25 ALL OF THE WAY UP TO A MAXIMUM PER PERSON OF $10,000, ALTHOUGH THERE ARE WAYS TO DO IT WHERE YOU CAN PUT IN UP TO 30,000 IF YOU HAVE A TRUST AND/OR A BUSINESS WHEN YOU INVEST IN AN I-BOND, I STANDS FOR INFLATION, YOU HAVE GOT TO MAKE SURE THAT FOR ONE YEAR YOU DO NOT NEED YOUR MONEY AND THE REASON IS FROM THE TIME YOU PUT IT IN TO ONE YEAR YOU CANNOT TOUCH IT.
FROM YEAR TWO TO FIVE THERE IS ONLY A THREE-MONTH INTEREST PENALTY. THAT IS HOW THEY WORK. THEY ARE ATTACHED TO CPI SO RIGHT NOW WHEN THEY ANNOUNCED IN MAY, THE CPI THE YIELD ON THE SERIES I BONDS WERE GUARANTEED AND ANNUALIZED AND IT'S GUARANTEED TO YOU SO THEY CHANGE EVERY SIX MONTHS THE INTEREST RATE CHANGES EVERY MAY AND NOVEMBER SO FROM MAY UNTIL NOVEMBER EVERYBODY WHO BUYS ONE RIGHT NOW WILL BE GUARANTEED AN ANNUALIZED YIELD OF 9.62% STATE INCOME TAX-FREE OBVIOUSLY YOU'RE ONLY GOING TO GET THAT FOR SIX MONTH, BUT THAT'S STILL 4.81% ON YOUR MONEY. WHEN THEY RESET COME NOVEMBER, LET'S SAY THEY RESET EVEN LOWER. LET'S SAY THEY RESET AT 7.11 WHICH IS WHAT THEY WERE PAYING BEFORE THEY RAISED TO 9.62, YOU ARE GUARANTEED THAT FOR THE NEXT SIX MONTHS ON AN ANNUALIZED YIELD SO THAT'S, LIKE, 3.56%, HALF OF THAT FOR SIX MONTH BECAUSE THAT'S WHAT YOU'RE GUARANTEED SO FOR THE YEAR IT'S 8.37% THAT'S ESSENTIALLY HOW THEY WORK THEY'RE FABULOUS THEIR MATURITIES ARE FOR — GO ON >> I DON'T MEAN TO INTERRUPT YOU, BUT I WANTED TO ASK YOU THOSE NUMBERS THAT YOU JUST — AND I GET IT, YOU EXPLAINED IT PERFECTLY.
THEY RESET EVERY SIX MONTHS AND ARE YOU GUARANTEED UNDER THIS PROGRAM TO MAKE A YIELD IF YOU HOLD THE BONDS THAT IS ABOVE THE THEN-PREVAILING RATE OF INFLATION? >> SO WHAT HAPPENS IS YOU ARE ABSOLUTELY GUARANTEED, AND WHAT'S SO GREAT IS THAT THE ONLY WAY A FINANCE PERSON CAN EVER USE THE WORD GUARANTEE SIDE USUALLY WITH A TREASURY INSTRUMENT BECAUSE IT'S GUARANTEED BY THE AUTHORITY OF THE UNITED STATES GOVERNMENT NO COMMISSIONS OR ANYTHING SO ONCE THEY DECLARE THAT RATE ON MAY 1st AND NOVEMBER 1st YOU ARE GUARANTEED FOR WHENEVER YOU BUY IT BETWEEN THOSE PERIODS, FOR SIX MONTHS YOU ARE GUARANTEE THE RATE THAT THEY DECLARED.
AGAIN, THAT'S AN ANNUALIZED YIELD, SO IT'S ONLY REALLY GUARANTEED FOR SIX MONTHS UNTIL THEY RESET YOU KNOW, TYLER, I GAVE A MASTER CLASS ON THIS ON THE WOMEN AND MONEY PODCAST ON THE APRIL 17th EDITION OF IT. EVERYBODY SHOULD LISTEN TO IT BECAUSE IT TELLS YOU ALL THE INs AND OUTs, EVERYTHING YOU NEED TO KNOW THIS IS AN INVESTMENT. I'VE BEEN DOING THESE SINCE 2001 >> THIS DOES MAKE AN AWFUL LOT OF SENSE YOU EXPLAINED IT VERY WELL IN YOUR FIRST ANSWER IN TALKING ABOUT THE 9.6% RATE. WE UNDERSTAND THAT THAT DOES CLEAR THE LEVEL OF INFLATION, BUT IF INFLATION IS SOMETHING LIKE 8.6%, AREN'T YOU MORE OR LESS JUST PROTECTING THE VALUE OF YOUR MONEY RATHER THAN REALLY GROWING IT EVEN IF INFLATION IS ONLY APERCENT LESS THAN WHAT YOU'RE MAKING. >> COURTNEY, YOU GOT THAT RIGHT, BUT DON'T YOU WANT IN MARKETS LIKE THIS TO HAVE A POSITION OF YOUR MONEY ABSOLUTELY RO TEKTED? WHERE ARE YOUGOING TO GO YOU CAN'T GO TO REGULAR BONDS, BECAUSE BONDS IF YOU ADOPTED IN BOND FUNDS FOR GROWTH, YOU'RE DOWN 10% OR 15%.
YOU'RE DOWN SIGNIFICANTLY IN THE STOCK MARKET THERE HAS GOT TO BE A PORTION OF YOUR MONEY, WHATEVER THAT IS THAT YOU WANT PROTECTED, YOU WANT ESSENTIALLY IN CASH AT LEAST WHERE IT'S KEEPING UP WITH INFLATION WHICH IS EXACTLY WHAT THIS WILL DO VERSUS YOU'RE IN A MONEY MARKET ACCOUNT OR A CD OR WHATEVER IT IS AND YOU'RE GETTING 3% WHERE YOU'RE LOSING MONEY. SO THIS IS A GREAT PLACE TO PUT YOUR — YOU MENTIONED AFTER FIVE YEARS, YOU MENTIONED 27 YEAR IS PUT FOR 30 YEARS >> I SEE, AND YOU CAN REDEEM THEM ANY TIME AFTER THE FIRST YEAR FROM THE YEAR TWO THROUGH FIVE THERE IS A THREE-MONTH INTEREST PENALTY AFTER THE FIFTH YEAR YOU CAN REDEEM ANY — YOU CAN REDEEM ANY TIME.
>> WITHOUT ANY PEVNALTIES WHEN S EVER REALLY, ESSENTIALLY. SO YOU'RE IN THERE FOR A YEAR AND YOU REDEEM AFTER THAT, BIG DEAL. >> FINAL QUESTION WHICH COURTNEY TOUCHED ON AND THAT IS THAT THIS IS FOR A PORTION OF YOUR MONEY, IDEALLY MONEY YOU DON'T NEED TO TOUCH. IN SOME WAYS LIKE STOCKS, BUT YOU ACKNOWLEDGE THAT THERE IS WITH THIS KIND OF SAFETY MONEY AN OPPORTUNITY COST WHICH IS TO SAY IT'S NOT GOING TO BE YOUR GROWTH MONEY THE STOCK MARKET MIGHT RETURN YOU OVER THE FIVE YEARS OR THE TEN YEARS YOU HOLD THIS BOND MUCH MORE THAN 8%, 9%, A LITTLE ABOVE INFLATION, RIGHT YOUR GROWTH MONEY IS A DIFFERENT THING.
>> ABSOLUTELY. YOU HAVE GROWTH MONEY. YOU HAVE EMERGENCY SAVINGS ACCOUNT MONEY THAT WOULD NEVER GO INTO SOMETHING LIKE THIS BECAUSE YOU CAN'T AFFORD TO LOCK THAT UP FOR A YEAR, BUT YOU DO HAVE A PORTION OF YOUR MONEY THAT YOU WANT RIGHT NOW SAFE AND SOUTHBOUND BECAUSE EVERYBODY IS SO FREAKED, AND AT THESE INTEREST RATES, IF INFLATION CONTINUES THESE ARE A BIG WINNER BIG, BIG, BIG. >> WHAT'S THE PODCAST AGAIN, GO BACK.
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Personal finance expert Suze Orman’s number one investment right now
Jason 0 Comments Retire Wealthy Retirement Planning
SO THERE YOU SEE SUPPLY AND DEMAND AT WORK WITH INFLATION AT A HISTORIC HIGHS IN THE STOCK MARKET CHOPPY, OUR NEXT GUEST SAYS THE NUMBER ONE INVESTMENT RIGHT NOW IS I-BONDS HERE TO EXPLAIN IS A PERSONAL FINANCE POWER PLAYER AND OUR DEAR FRIEND SUZE ORMAN HOST OF THE WOMEN AND MONEY PODCAST. SHE IS ALSO CO-FOUNDER OF THE EMERGENCY SAVINGS FIRM SECURE SAVE SUZE, IT IS ALWAYS GREAT TO SEE YOU. WELCOME. GOOD TO HAVE YOU BACK WITH US. LET'S TALK ABOUT THE I-BONDS WHICH I DIDN'T EVEN KNOW ABOUT, BUTMY NEPHEW-IN-LAW SAID YOU HAVE TO GET THESE I-BONDS. EXPLAIN TO ME WHAT THEY ARE, HOW THEY WORK, HOW I BUY THEM AND FROM WHOM. >> NOW SO YOU BUY THEM FROM THE TREASURY, DIRECTLY FROM THEM SO YOU GO FROM TREASURYDIRECT.GOV IT IS THE ONLY PLACE THAT YOU CAN BUY THEM, NUMBER ONE THEY RANGE IN PRICE.
YOU CAN INVEST FROM $25 ALL OF THE WAY UP TO A MAXIMUM PER PERSON OF $10,000, ALTHOUGH THERE ARE WAYS TO DO IT WHERE YOU CAN PUT IN UP TO 30,000 IF YOU HAVE A TRUST AND/OR A BUSINESS WHEN YOU INVEST IN AN I-BOND, I STANDS FOR INFLATION, YOU HAVE GOT TO MAKE SURE THAT FOR ONE YEAR YOU DO NOT NEED YOUR MONEY AND THE REASON IS FROM THE TIME YOU PUT IT IN TO ONE YEAR YOU CANNOT TOUCH IT. FROM YEAR TWO TO FIVE THERE IS ONLY A THREE-MONTH INTEREST PENALTY. THAT IS HOW THEY WORK.
THEY ARE ATTACHED TO CPI SO RIGHT NOW WHEN THEY ANNOUNCED IN MAY, THE CPI THE YIELD ON THE SERIES I BONDS WERE GUARANTEED AND ANNUALIZED AND IT'S GUARANTEED TO YOU SO THEY CHANGE EVERY SIX MONTHS THE INTEREST RATE CHANGES EVERY MAY AND NOVEMBER SO FROM MAY UNTIL NOVEMBER EVERYBODY WHO BUYS ONE RIGHT NOW WILL BE GUARANTEED AN ANNUALIZED YIELD OF 9.62% STATE INCOME TAX-FREE OBVIOUSLY YOU'RE ONLY GOING TO GET THAT FOR SIX MONTH, BUT THAT'S STILL 4.81% ON YOUR MONEY. WHEN THEY RESET COME NOVEMBER, LET'S SAY THEY RESET EVEN LOWER. LET'S SAY THEY RESET AT 7.11 WHICH IS WHAT THEY WERE PAYING BEFORE THEY RAISED TO 9.62, YOU ARE GUARANTEED THAT FOR THE NEXT SIX MONTHS ON AN ANNUALIZED YIELD SO THAT'S, LIKE, 3.56%, HALF OF THAT FOR SIX MONTH BECAUSE THAT'S WHAT YOU'RE GUARANTEED SO FOR THE YEAR IT'S 8.37% THAT'S ESSENTIALLY HOW THEY WORK THEY'RE FABULOUS THEIR MATURITIES ARE FOR — GO ON >> I DON'T MEAN TO INTERRUPT YOU, BUT I WANTED TO ASK YOU THOSE NUMBERS THAT YOU JUST — AND I GET IT, YOU EXPLAINED IT PERFECTLY.
THEY RESET EVERY SIX MONTHS AND ARE YOU GUARANTEED UNDER THIS PROGRAM TO MAKE A YIELD IF YOU HOLD THE BONDS THAT IS ABOVE THE THEN-PREVAILING RATE OF INFLATION? >> SO WHAT HAPPENS IS YOU ARE ABSOLUTELY GUARANTEED, AND WHAT'S SO GREAT IS THAT THE ONLY WAY A FINANCE PERSON CAN EVER USE THE WORD GUARANTEE SIDE USUALLY WITH A TREASURY INSTRUMENT BECAUSE IT'S GUARANTEED BY THE AUTHORITY OF THE UNITED STATES GOVERNMENT NO COMMISSIONS OR ANYTHING SO ONCE THEY DECLARE THAT RATE ON MAY 1st AND NOVEMBER 1st YOU ARE GUARANTEED FOR WHENEVER YOU BUY IT BETWEEN THOSE PERIODS, FOR SIX MONTHS YOU ARE GUARANTEE THE RATE THAT THEY DECLARED. AGAIN, THAT'S AN ANNUALIZED YIELD, SO IT'S ONLY REALLY GUARANTEED FOR SIX MONTHS UNTIL THEY RESET YOU KNOW, TYLER, I GAVE A MASTER CLASS ON THIS ON THE WOMEN AND MONEY PODCAST ON THE APRIL 17th EDITION OF IT. EVERYBODY SHOULD LISTEN TO IT BECAUSE IT TELLS YOU ALL THE INs AND OUTs, EVERYTHING YOU NEED TO KNOW THIS IS AN INVESTMENT. I'VE BEEN DOING THESE SINCE 2001 >> THIS DOES MAKE AN AWFUL LOT OF SENSE YOU EXPLAINED IT VERY WELL IN YOUR FIRST ANSWER IN TALKING ABOUT THE 9.6% RATE.
WE UNDERSTAND THAT THAT DOES CLEAR THE LEVEL OF INFLATION, BUT IF INFLATION IS SOMETHING LIKE 8.6%, AREN'T YOU MORE OR LESS JUST PROTECTING THE VALUE OF YOUR MONEY RATHER THAN REALLY GROWING IT EVEN IF INFLATION IS ONLY APERCENT LESS THAN WHAT YOU'RE MAKING. >> COURTNEY, YOU GOT THAT RIGHT, BUT DON'T YOU WANT IN MARKETS LIKE THIS TO HAVE A POSITION OF YOUR MONEY ABSOLUTELY RO TEKTED? WHERE ARE YOUGOING TO GO YOU CAN'T GO TO REGULAR BONDS, BECAUSE BONDS IF YOU ADOPTED IN BOND FUNDS FOR GROWTH, YOU'RE DOWN 10% OR 15%. YOU'RE DOWN SIGNIFICANTLY IN THE STOCK MARKET THERE HAS GOT TO BE A PORTION OF YOUR MONEY, WHATEVER THAT IS THAT YOU WANT PROTECTED, YOU WANT ESSENTIALLY IN CASH AT LEAST WHERE IT'S KEEPING UP WITH INFLATION WHICH IS EXACTLY WHAT THIS WILL DO VERSUS YOU'RE IN A MONEY MARKET ACCOUNT OR A CD OR WHATEVER IT IS AND YOU'RE GETTING 3% WHERE YOU'RE LOSING MONEY.
SO THIS IS A GREAT PLACE TO PUT YOUR — YOU MENTIONED AFTER FIVE YEARS, YOU MENTIONED 27 YEAR IS PUT FOR 30 YEARS >> I SEE, AND YOU CAN REDEEM THEM ANY TIME AFTER THE FIRST YEAR FROM THE YEAR TWO THROUGH FIVE THERE IS A THREE-MONTH INTEREST PENALTY AFTER THE FIFTH YEAR YOU CAN REDEEM ANY — YOU CAN REDEEM ANY TIME. >> WITHOUT ANY PEVNALTIES WHEN S EVER REALLY, ESSENTIALLY. SO YOU'RE IN THERE FOR A YEAR AND YOU REDEEM AFTER THAT, BIG DEAL. >> FINAL QUESTION WHICH COURTNEY TOUCHED ON AND THAT IS THAT THIS IS FOR A PORTION OF YOUR MONEY, IDEALLY MONEY YOU DON'T NEED TO TOUCH. IN SOME WAYS LIKE STOCKS, BUT YOU ACKNOWLEDGE THAT THERE IS WITH THIS KIND OF SAFETY MONEY AN OPPORTUNITY COST WHICH IS TO SAY IT'S NOT GOING TO BE YOUR GROWTH MONEY THE STOCK MARKET MIGHT RETURN YOU OVER THE FIVE YEARS OR THE TEN YEARS YOU HOLD THIS BOND MUCH MORE THAN 8%, 9%, A LITTLE ABOVE INFLATION, RIGHT YOUR GROWTH MONEY IS A DIFFERENT THING.
>> ABSOLUTELY. YOU HAVE GROWTH MONEY. YOU HAVE EMERGENCY SAVINGS ACCOUNT MONEY THAT WOULD NEVER GO INTO SOMETHING LIKE THIS BECAUSE YOU CAN'T AFFORD TO LOCK THAT UP FOR A YEAR, BUT YOU DO HAVE A PORTION OF YOUR MONEY THAT YOU WANT RIGHT NOW SAFE AND SOUTHBOUND BECAUSE EVERYBODY IS SO FREAKED, AND AT THESE INTEREST RATES, IF INFLATION CONTINUES THESE ARE A BIG WINNER BIG, BIG, BIG. >> WHAT'S THE PODCAST AGAIN, GO BACK.
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Climbing the Wealth Pyramid: From Rich to Ultra Rich Lifestyles
Jason 0 Comments Retire Wealthy
did you know that there are billionaires that most billionaires can only dream of becoming you might be surprised to learn that not all billionaires are equal while some own businesses and corporations others own Industries and even countries once you understand this you will realize that the difference between these levels of wealth is quite staggering in this video we'll be exploring the levels of wealth and what life is like at each of these different levels we would also delve into how the ultra Rich spend their money including some of their most bizarre and extravagant purchases chapter 1 wealth in perspective so what is a billion dollars say you earned one dollar per second it would take you about 11 and a half days to make one million dollars now to make one billion you would need to earn that one dollar for over 31 and a half years so while it is very easy to think of wealth in terms of rich or poor it simply is not enough wealth classification is broader than that to begin with there is a huge difference between what a millionaire can do and what a billionaire can do worthy of note is the perspective of price which in turn feels relative to how much you earn let's compare someone earning fifty thousand dollars a year with someone earning 500 million dollars a year you see that is ten thousand times more the average guy spending thirty dollars is equivalent to the billionaire spending three hundred thousand dollars on a Lamborghini similarly a 10 million dollar piece of art would feel like one thousand dollars the difference here is that these purchases would feel so major to the average guy but to a billionaire it is not chapter two levels of wealth now let's put these guys on different levels let's see just how wealthy one can be starting at the bottom of the food chain is the top one percent we know you already had an idea of what the one percent is but give us a minute this phrase has been synonymous with being extremely rich for so long that to think otherwise seems unnatural so what is the one percent when your income is over about five hundred thousand dollars a year you would technically be considered a part of the top one percent of worldwide earners but if you are in this category you will quickly realize that you are not as rich as you think you can usually afford a nice house and a flashy car but those things come at an even higher cost to maintain and if you are working a full-time job you would feel even less financially secure this is actually why after this level wealth starts being measured in net worth rather than income the guys in the next levels of wealth don't earn their money from a salary it's mostly a case of more wealth and more assets the next level of wealth would be the guys with a net worth of 10 to 30 million dollars you can live comfortably at this level because all your needs are met easily you have a really nice house you would fly first class international only be able to book a two thousand dollar Suite when you feel fancy and most importantly no random financial situation can disrupt your life and status but at this level you still have to be smart about big decisions and in the banking world you will definitely not be classified as an ultra high net worth individual which of course brings us to the next level the guys with a net worth of 30 million to 100 million dollars if you get to this point you can kind of rest easy you are now playing in the big leagues what does this mean with a huge stake in a very large company five-star hotels and multiple Villas in Santorini Dubai or the French Riviera you probably wouldn't even mind that you would be spending about twenty thousand dollars per night you can also afford to pay for ease you know you have people running around at your every whim you have assistance for everything they take care of your schedule and stay on top of your appointments now when it comes to appointments and meetings you barely spend your time with people who do not matter whether you like it or not your Social Circle has evolved you now have access to the most influential people in business entertainment and politics but of course there is a downside to always being surrounded by other super rich and influential people the danger is you might start to feel like you do not have enough you may soon realize that you're new for sorry is not all that because your friend got himself a limited edition version you might return home from dinner with a congressman to find out that your billionaire friend just had dinner with the president it is something of a slippery slope if you get to this point you could either fall off in an attempt to achieve more or actually unlock the next level and that is the net worth of 100 million to a billion dollars to get to this level you definitely have ownership or control of a well-known company almost any experience you can dream up you can have say you feel like playing golf with your favorite golf player all you would have to do is tell your people to call his people at this level you can afford the most bizarre things on the planet like a 24K karat gold toilet a limited edition pen worth over two million dollars with nearly a thousand diamonds engraved on it all this luxury and yet you are still not at the final level chapter 3 the billionaire level now let's talk about the big guys the very few people who have built a net worth of a billion dollars and above if you study all the rankings like the Forbes list you would see that the very top 25 billionaires have more wealth between them than the poorest 50 percent of the entire world oh wait you never considered this we will get to that in a bit for now let's visualize the life of the billionaires we know about Elon Musk Jeff Bezos Bernard Arnold Mark Zuckerberg Bill Gates these names are fixtures on the Forbes list they can buy anything on this planet literally anything say a private island with a standby yacht to get you there whenever you want yes we have spoken about luxurious items and experiences but at this level it is a whole new world at this level you can buy access to almost anyone on the planet a billion dollars would also get you respect and even influence you can influence big changes in the world make an impact through philanthropy and charity you can clean water for villages in Africa fund new hospitals save endangered species and so on most interestingly you could afford to buy time your time is precious to you so thankfully you can afford to pay for Speed and ease no waiting in lines or sitting around according to Forbes there are 2 640 billionaires in the world do you think there are more would anyone go out of their way to hide just how wealthy they are share your thoughts with us in the comments like this video if you have enjoyed it so far subscribe to the channel and hit the notification Bell so you don't miss any upcoming videos like this chapter 4 the billionaire you do not know about what if we told you everything you've been told about billionaires is just one big lie it might surprise you that quite a number of people are just as rich or even richer than the Forbes billionaires we mean there has to be a reason Elon Musk is convinced that Russian President Vladimir Putin is richer than him he has a publicly disclosed official salary of one hundred forty thousand dollars but according to some experts Putin has assets that would total up to 200 billion dollars where does this conspiracy come from you see over the course of his presidency trillions of dollars have passed his hands so even if he only managed to keep a tiny percentage of let's say a trillion dollars imagine how rich he is Believe It or Not There is actually a whole segment of rich people who always appear on the Forbes list but don't even have a few million dollars these people are just paper rich they have companies that employ thousands of people and may even have a good product on their hands but their companies burn more money than they bring in did you know that Elon Musk acquired Twitter using a leveraged buyout that is essentially borrowed money not to say he is broke or anything because there are a number of reasons why he did that the point is you would often see people like this making the Forbes list while the people who you don't see are the ones who actually make the big moves these billionaires don't just make money they are the ones with unlimited access to cash they control countries and Global Supply chains their decisions impact not just themselves or their families but literally thousands if not millions of people globally take the Crown Prince of Saudi Arabia for example since 2018 Forbes has excluded all Saudi billionaires from its list but it is a well-kept secret that the prince popularly known as MBS has full access to trillions of dollars in Saudi Arabia's public investment fund this is the height of power behind the scenes access to anything in control of anything or anyone they desire here you might be feeling a little inspired right now you could also be feeling like you do not have enough or maybe there is a little anger in your heart now that you have truly seen how wide the gap between the Haves and halves not really is whatever the case may be we think that one's goal in life should not be uncountable riches but rather happiness at every level of life you should strive to be happy because the truth is nobody truly has it all these ultra-rich people also live difficult lives they can only afford to hide it better it is easy to feel little but the fact that you have access to a device and an internet connection to listen to this means you are not so down the line you are actually richer than you think there is no guarantee that abundant wealth will make you happier than you are right now so always remember you have enough and most importantly you are enough
The AI Hustle – No… ChatGPT Will NOT Make You $300 A Day.
Jason 0 Comments Retire Wealthy
a good Break calls for people to think four.
points people need to think it'' s reputable people need to think it will certainly provide riches.
or a far better life people need to believe it will certainly be easy as well as individuals need to believe that the.
grifter has a secret to making it all function AI is mosting likely to be a far better possibility for scammers.
than cryptocurrency and it'' s already beginning however I ' m going to be going with exactly how you can make use of. this new AI book with chat GPT to aid you when it concerns generating income online in this video I'' m. going to show you a silly easy method to make money with chat GPT I don'' t need to tell you about conversation.
GPT if you have actually been anywhere on the internet in the last 6 months you currently understand about what.
it as well as various other programs like it can do designing images creating code as well as producing material are the.
most time consuming jobs in the most typed up Industries Tech as well as online advertising if you pay.
focus to the area you will certainly become aware of individuals making substantial lot of money on a day-to-day basis the.
difficulty is that coding writing and developing digital media takes a lot of effort and calls for.
skill as well as experience someone who requires to fast money currently doesn'' t have time to discover internet.
advancement or take a Photoshop course and also AI is the solution to that brand-new programs can take fundamental.
motivates as well as produce feasible web content which can after that be monetized except it just doesn'' t work and also. pinheads online demand to stop telling you it does brand-new AI programs are not going to make.
you abundant and there are 4 reasons why that takes place to line up perfectly with the components.
that make a wonderful scam the very first reason is that the fields they obviously function in just incentive.
leading performers as well as AI doesn'' t create web content as good as the best people one of the most regularly.
recommended AI hustle is creating completely automated YouTube networks business strategy is to get.
chat GPT to create you a video clip mid-journey to produce a slide show of visuals and some freemium.
on-line software program to transform it into a video clip to publish on YouTube and also make that wonderful ad Profits to.
receive money making on YouTube a network needs a minimum of 4 000 hours of watch time and also.
1 000 customers that doesn'' t seem like much yet much less than one percent of channels ever before certify.
for the companion program and this barrier was so difficult for new channels to overcome the.
YouTube lowered the demand to 3 000 hrs of watch time as well as 500 customers even if the.
channels that obtain sufficient of a following to be generated income from most are only making a couple of bucks a day.
it took me and also a lot of the various other creators I talk with personally even more than a year of making material.
before we were generated income from making videos is time taking in so allowing AI do all of the help you.
plays well right into one of the essential ingredients of a great scam individuals need to think it will be very easy.
engaging than an internet word generator so they get countless views and also the numerous people.
attempting to produce automatic networks get absolutely nothing Drop Delivery is one more usual grasp that has.
the same noticeable Advantage which is truly its greatest weakness if you are among the fortunate couple of.
that has not had the Decline Shipping dream pitch to you yet the business strategy is to discover overseas.
firms marketing cheap items overseas utilizing sites like Alibaba as soon as you locate something you.
believe will offer well you set up a web site of your very own to offer those products at a higher price when.
somebody purchases something off your website you transform around and also buy it off the overseas seller as well as.
merely provide the address of the purchaser so they can take care of the postage and you maintain the.
earnings yet not just will you be contending with the hundreds of other people that are attempting to.
do the very same point you will certainly also be taking on Walmart and Amazon that provide faster distribution.
times better brand acknowledgment reduced prices a larger item choice and have numerous.
site visitors visiting their stores constantly individuals selling Decrease Delivery programs also hardly ever.
admit that your consumer can likewise just go on Alibaba themselves and get the item at the.
lower cost producing material using AI encounters every one of the very same problems it'' s pitched as an easy. means to construct a business or generate side income but it'' s never ever going to compete with the people.
placing in real effort to bring a much better item to Market the length of time would certainly you view a video of an.
AI voice reading a procedurally generated script wouldn'' t you instead invest your time on YouTube. seeing content from dedicated creators naturally you would and also because YouTube desires you to use their.
system for as long as feasible they will just promote material that keeps people involved but what.
about all the individuals that did obtain rich off of Decline Delivery and individuals already making money using.
AI well the absence of competitiveness that is absolutely no hidden to entrance business has is simply the first.
issue with assuming AI will amazingly make you 300 a day so it'' s time to find out how cash Works.
to discover just how in a remarkable technology is being developed into the globe'' s greatest grift today'' s. lesson was funded by great browsing the swiftly advancing globe of synthetic intelligence.
needs strong understanding as well as clear viewpoint great is an outstanding platform to offer this.
recognizing in today'' s climate ai ' s Appeal has been manipulated by grifter'' s appealing instant.
treasures a dream far removed from truth nevertheless recognizing AI can aid you translucent these.
incorrect assurances and Fantastic is right here to aid Developing supplies courses in fabricated neural.
networks and support understanding that are excellent for debunking the complex world of AI.
having personally take these training courses I can assure you that it will certainly help you understand the Practical.
applications as well as limitations of AI dazzling'' s come close to advertises Interactive Discovering you get.
to implement your newfound expertise almost allowing you to acknowledge exactly how AI can be.
effectively and also genuinely made use of brilliant has turned discovering right into a satisfying Trip.
their academic content is much from being a completely dry academic task but rather an intriguing Expedition.
into the globe of AI and various other subjects that can be accessed with simply a few clicks whether you''
re. aiming to disprove AI misconceptions or merely improve your technological literacy fantastic has obtained you.
covered they'' re taking part in pragmatic technique to learning enables you to stay well-informed and.
informed with minimal initiative to get great absolutely free for 30 days most likely to brilliant.org onward.
reduce exactly how cash works or click the web link in the description and the initial 200 of you will certainly get.
20 off great yearly premium registration the 2nd reason that AI has currently.
end up being such a terrific grift is that the means that it can make you cash noise.
trustworthy Chad gbt only blends together things it scuffed off the internet but it.
can still do some quite excellent things and also we'' re gon na get some solutions is it magic is it.
just algorithms is it mosting likely to save us or ruin us allow'' s go discover another popular plan to make.
money utilizing AI has actually been letting chat GPT pick stocks for you all the big Financial influencers.
have actually made some variant of this video as well as even reliable Electrical outlets like CNN service have actually composed.
a posts recommending that AI chatbots can pick stocks for you far better than a fund manager I really hope.
to the majority of you that appears entirely ridiculous because it is but it'' s also very easy to recognize why. people would fall for this monetary education is significantly lacking in America in the majority of various other.
countries people are told that they must spend and it'' s typically left at that accessing.
a paid Financial specialist is costly as well as makes a plain active investing pointless if you.
need to pay someone two thousand dollars to inform you exactly how to invest your remaining eight thousand.
dollars so the only choice is relying on people on the net that offer basic recommendations that.
won'' t be suitable for everyone or in some cases from that'' s why I ' m truly honored to back up.
today'' s fund FTX another point that individuals understand is important but wear'' t know much
about is AI. talking with just a little of authority about these 2 subjects will bring in a big audience.
there are computer Pro programs used by Significant Quant funds that are coded by individuals with phds.
as well as data physics and also computer technology these are programs that utilize millions of information points to.
obtain a mild Side in trading this makes the claim regarding AI spending audio reliable given that conversation GPT.
is an outstanding computer program that utilizes a big information set it'' s had the ability to do points like pass the.
bar test on its first shot so it must have the ability to do the exact same thing as those Quant algorithms right.
incorrect the programs that Quant funds use just work when they specifically implement an approach and also.
they typically put on'' t work as well as when they do they just function for a short time before the market. reverse Engineers what they are doing as well as does the same point that'' s very various from passing.
bench which is mostly a test of remembering legal precedence since chant GPT has a large Bank of.
training data it offers it an unfair Benefit an typical individual with some standard legal training.
might possibly pass bench too if they were allowed to bring a laptop computer with an archive of situation.
law right into the exam area but they are not investing is extremely different from passing bench any.
approach that can be accessed by typing a punctual right into chat gbt T is mosting likely to have no Competitive.
Side over the market because any person else can do the same point also Chan gbt does not take your.
personal financial situation right into account as well as because its training data just increases to 2021 it'' s. outdated also the factor the much better Economic makers on YouTube wear'' t discuss what to. purchase is since they understand it'' s impossible to provide good suggestions to such a big target market this.
is discouraging for them due to the fact that they can see just how much cash various other people are making by asserting.
to be Economists and also giving advice that is actually harming individuals so wear'' t ever anticipate fulfill.
Kevin to market you a Supply Spending course thank you a lot for considering this training course you are.
phony information it'' s also annoying to Their audience because individuals like Patrick Boyle the ordinary bagel.
and also Ben Felix are Economic experts with qualifications licenses as well as qualifications.
that make them far better outfitted to give guidance however it'' s as a result of their experience that.
they understand that they can'' t provide guidance a straightforward referral like you should get a wide market.
index fund is great suggestions for some people however it can be terrible recommendations for people with short term.
economic objectives high passion financial obligation or no emergency cost savings since as YouTubers we can'' t control who.
sees our video clips the following finest thing we can do is not offer any type of suggestions in all Chad GPT has.
the same restrictions it doesn'' t recognize your financial resources it just forecasts what word makes the.
the majority of sense to kind out next so even if it does appear like you can make whatever less complicated please.
put on'' t use it for economic suggestions the AI hype is made to seem a lot more reliable since there.
are individuals that are going to get abundant off this technology the fear of missing out on an exciting.
Fad similar to this can make it tough to remain sensible individuals that are going to make millions in.
this sector autumn right into 3 classifications the very first team are individuals that can in fact produce.
programs like chatgpt due to the fact that they are brilliants in the fields of artificial intelligence allowing them.
to start their very own companies or work out substantial salary bundles from Large tech business that.
want leading talent in the room the following team are people that have actually currently spent right into AI companies.
that are currently benefiting off capitalist buzz and also the 3rd group are people that run normal organizations.
that can make use of AI to make procedures more effective which is different from constructing an organization.
totally from the ground up utilizing AI if you'' re not in one of these groups that'' s okay nobody can be.
in the appropriate place at the correct time whenever and also chasing Fads is a pricey exercise the 3rd.
factor that AI is mosting likely to make such a fantastic scam is due to the fact that it'' s very easy for people to claim they have.
the key to making it all function AI programs are very easy to utilize yet they still have a discovering curve.
and to utilize them to their max potential you are mosting likely to require to search for Guides Online.
to discover exactly how to get it to function and also what can be performed with it that'' s an easy way for people to. make large insurance claims and also saturate up those wonderful clicks they may claim it'' s safe yet it isn'' t and also. that ' s due to the fact that among the greatest troubles in the YouTuber Finance room is a strategy I call the.
bait and backpedal this is where a YouTuber will upload a clickbait title like how to use conversation GPT to.
end up being a millionaire and afterwards state nothing in the video regarding just how this program is meant to make.
you a millionaire the people that have perfected this method will certainly also cover themselves in the.
video by saying that people shouldn'' t risk their money which AI is not made for this which is.
the back pedal part of the strategy that means if they are ever before called out they can simply claimed.
that the individual didn'' t see their video clip but by that point the damage is done not everyone.
that sees a thumbnail will certainly click it I am quite poor at clickbait so my numbers might be even worse yet.
for every single one sight on my network my video requires to be displayed to 15 people usually a great deal.
of individuals will certainly simply see that conversation GPT can make them a millionaire and also never ever view the video clip that.
states specifically the opposite which'' s the 4th factor it ' s easy to believe that this might change.
your life beginning a service or investing is not amazing if it'' s amazing you are most likely.
doing something wrong investing is a long-lasting as well as monotonous exercise that rewards technique more.
than chasing Patterns beginning organization coincides with the addition of a great deal of difficult job a simple.
shortcut seems wonderful however the best instances of this not working is in fact the 2nd richest.
family members in America they run their business in such a standard means that their Execs still.
need to authorize in with a punch card not chasing trends like AI is specifically just how they have remained.
rich but to figure out the covert Luster behind doing points the old method go and also see my.
video clip about exactly how a damaged candy maker yet the fourth biggest private business in America as well as if you want.
to get these videos a day earlier than every person else authorize up to my e-newsletter compounded.
daily to go on discovering exactly how cash works.
How America’s Wealth Gap Shaped the Modern Economy
Jason 0 Comments Retire Wealthy
[Martin Luther King Jr.] The reality is that countless Negroes, as an outcome of centuries
of denial as well as neglect, have actually been left bootless. It is a cruel jest to
state to a bootless male that he should certainly lift himself
by his own bootstraps. At the dawn of emancipation, the total Black wide range in
Today that number is between 1-2%. The most destructive form of the racial riches space
is when we take individuals, human beings, as funding for others, as being an asset whereby
others can be enriched, can gather, can give resources from one generation to the other. [Martin Luther King Jr.
] They find themselves poor aliens in
this upscale society and also there is a wonderful offer
that culture can and also should do if the Negro is to acquire the
financial protection that he needs.The origins of the racial wealth space begins
when Black people went into the coasts of the United States as belongings funding. There were two types in which Black individuals offered as capital, the uncompensated labor that they offered, yet their sheer bodies themselves could be traded, could be traded and also stood as
a source of wide range and also wide range structure for White people. The slavery of Black individuals in America is what made the United state economic situation grow into the giant that it is today. At the begin of the Civil War, each servant was worth a standard of$ 1,000.
With the 13th Modification that released slaves, the point is that, that ' s not enough. When you ' ve had centuries of literally bondage imposed upon a people,'if you want real justice or true flexibility, there required to be not just that liberty from bondage, but actual coming with of sources so that individuals might pursue their resources. Expecting a people to to thrive as well as thrive without payment for all that unfair harm truly just established a system for fascism and also a system that was unjust.Toward the end of the Civil War, General William Tecumseh Sherman made an assurance to slaves that as quickly as the battle was over, they would certainly be provided 40 acres of land
as well as a burro. This concept of offering land had a dual function.
People that supported it saw it as a method to both cost-free the formerly-enslaved from their old masters and as a way to water down the power of these southerly land owners. A couple of months later, President Abraham Lincoln was shot and eliminated. His Vice President, Johnson, promptly eliminated this guarantee. When Andrew Johnson banned the Freedmen ' s Costs, he stated, look, this is a. White male ' s federal government, to ensure that was the impetus. But additionally used this idea that the government. doesn ' t hand out land, this is'commercialism. As well as the idea that this is a. free market as well as self-government'was really much used to damage. cases of the 40 acres, while at the exact same time the federal government is giving. away cost-free land out west via the Homestead Act.The Homestead Acts were a series of bills suggested to urge negotiation. of the American West. In all, 270 million
acres were given out as part of the bills. That land, which represents about 10% of the entire nation, was mainly taken from Indigenous Americans and also most of the 1.5 million Americans that took advantage of the. Homestead Acts were White. They were actually giveaways that provided White individuals. eventually a key ingredient to construct wealth,
and. that ' s resources itself, and also deliberately Black. people were not included.
The Homestead Act is a significant indication of united state federal government.'assisting in the buildup for White people and not. promoting it for Black people, but it ' s among many.The Homestead Act fits. into a larger context that throughout our United States history, well past enslavement, we. think of racial repression and also we assume that with emancipation, that all of an abrupt. we were a cost-free country, but a larger point to make is that if we think of a middle class, a middle, White, asset-building course, it was government plan. that produced it. What little financial successes Black people were able. to contend this moment usually spurred a great deal of. bitterness among Whites
. This resulted in countless. lynchings of Black individuals and other violent assaults, in some cases on whole Black. areas and also neighborhoods
. My name is Roy Woodle and I ' m not ashamed to be a Klansmen. Amen! This remained in the moment of heavy Jim Crow, it was in the moment of rising Klan
, and also while where. White supremacy was acquiring'this pseudo-scientific authenticity. It is the situation that throughout background, not only have Blacks not been permitted to collect land,
funding. and other kinds of source to the very same level as Whites, however when they were able. to conquer obstacles and accumulate those sources,. it ' s always gone through straight-out horror, straight-out seizure, due to the fact that we did not have the codification that comes along with federal government to safeguard the resources of Black people similarly that it was. protected for White people.Tulsa, for instance, in the. 1900s, there was oil boom with a great deal of wealth that. was in that area and so they built the Greenwood District and the main component of the.
city was this Black church.
It was really elaborate as well as gorgeous
. These areas are called. the Black Wall Surface Street, where it wasn ' t a sharecropping market, there were landholdings. The important things that took place was.
that the racial bitterness expanded. There were battles and truly just a total.
In that one day, Black Wall surface Road was ruined as well as 10,000 Tulsans were displaced. There ' s even evidence that. Globe War One bomber planes were made use of to melt the community.
The Tulsa Bloodbath was. Civil War and the 1940s, destroying a significant. On the one hand, those neighborhoods are clear examples of the methods
in which Black.
They can in fact grow. However on the various other hand,.
we romanticize the past.We define a nostalgia as if. we had these kingdoms of gold, when in fact, it was never the case that Black people had wide range en masse.
Slavery itself developed a. multi-trillion dollar wide range gap as well as the period promptly. As well as none of that consists of the one point that many individuals today can map their wide range. This legislation, for the initial time,.
As a matter of fact, the government. federal government went the other means.
Communities were redlined. The federal government produced.
maps that revealed the level of threat by area.
These had different shades and the riskiest was outlined in red.
This was really a lot a crude calculus however advanced in a way that they actually had heaps.
of maps throughout the nation as well as you would see the manner in which they mapped out a neighborhood and they checked out the
. house: Is it single-family? Is it industrial? Is it farmland? What are the features. of the neighborhood? Yet the top thing. that they considered is who lives there? So they would certainly say this is a. Black area, redline.And normally
what would certainly establish? Slums. What would develop? Neighborhood degregation. When you have funding. getting away certain areas as well as capital being flooded right into areas, the outcomes come to be evident. If you stayed in a Black area, because it was a Black community, you did not
get that FHA mortgage, you did not obtain that GI costs funding, you did not obtain the ranch
lendings. Today the legacy of those legislations is that your neighborhood. is quite racially-coded. This is exactly how racism obtains. ingrained in wealth. Word originated from Capitol Hill that Congress had passed. and sent to the White House the Civil Civil Liberty Act of 1968. Consisted of in the procedure was. a spots open real estate expense, which, when totally efficient,. would certainly prohibit discrimination in about 80%. of all real estate provided for rent or offer for sale in the United States. The Civil Rights Motion, and specifically the. Fair Housing Act of 1968, tried to place an end to. that discrimination. Fair real estate for all, all humans
who live in this nation, is now a part of the American lifestyle.
They didn ' t have much economic power as well as they battled to.
undo the decades of damage that had actually already been done.Since that time
the wide range. gap has in fact widened. In 1967, Black families had 1/5 the riches of White families. Today, that number is 1/7.
It ' s not simply that you have. It is likewise the opportunities; the ladders up for your kids are different in certain areas, non-existent in some neighborhoods as well as, rather honestly, tough to fall off of in other areas.
This tale is not all dismal. Similar to plan can be enacted to produce these unjustified disparities, likewise plan can be. enacted to remedy them.
We need something in.
My #1 Rule To Create Wealth — T. Harv Eker
Jason 0 Comments Retire Wealthy
What I specifically like concerning owning your
very own company is that you have placed on your own in a setting where creating
wide range goes to least possible. Currently consider it by doing this: You know tennis, everyone'' s saw tennis, played tennis, but if'you ' re having fun tennis as well as the round is way, method over here, method over below, all right so the very first point you have to do if you'' re gon na strike the round is if you'' re method over there, you ' ve reached obtain in setting to be able to hit the round. You can'' t hit an excellent shot from means back over there there'' s no chance! It ' s the same with riches. You need to give yourself a chance as well as your ideal chance includes your own business. You understand, the research study reveals that 90% of all self-made millionaires did it in their own business Why? Let me tell you why … Because what I call Ensure you remember this. You write this down you. You publish it on your forehead. On your mirror … Riches Regulation # 1 And also here it is … I will repeat that: No Limits On Your Income Here'' s the problem … If you remain in a job, or you get paid a set wage, or even in any scenario where you earn money by the hour, that suggests you are being paid for your, what? Your time.And of training course here ' s the challenge: there'' s just 1 day in the day and also since time and also your time is restricted, your revenue comes to be, what? Minimal … And you'' ve broken one of the most vital guideline of wide range: No Limits On Your Income.
Suze Orman Gets You Ready For Retirement | Money
Jason 0 Comments Retirement Planning
I am the one and only Susie Orman, and my goal is to make you as independent from financial advisors as possible, because you are never going to be powerful in life until you are powerful over your own money. And my job is to make sure you can achieve just that. So rather than asking more from your money that it can't give you, you have to ask less of your spending habits from yourself which means you have got to get rid of all credit card debt. All debt. Total debt of car loans, mortgage debt, all debt that you have has to go. So one thing that you have to look at is if you have a debt, that is your sign that you can't afford to retire. Maybe you retire from the job that you currently have, but then you have to get some side hustles or something. So my best advice to you is start living below your means but within your needs.
How do you do that? From this day forward, every time you go to make a purchase, ask yourself a question, 'Is this a want or is this a need?'. If it's a want, please don't purchase it. If it's a need, you have to buy it. It's just that simple. You know, a lot of you, when you're approaching retirement, you look at your portfolio and usually your portfolio is this: you have a 401 9k), 403 (b), a Thrift savings plan if you work for the government or whatever, it may be, the military. And now you've retired and now normally you would then do an IRA rollover with that money. But now you're 'Oh my God, what should I do? I never invest in money before, really. I've just put money in every single month into these mutual funds. And now I don't know what to do.'. If you are going to be withdrawing money from your retirement account to pay for your everyday expenses, you have to know that you have — ready for this, everybody — at least three years of expenses in cash, earning you a high interest rate or whatever the highest interest rate is that you can get.
The rest, at this point in time, should really be diversified into high-yield dividend-paying either stocks or exchange-traded funds. If you need really short term money and you want to get a higher interest rate for very short term money, right, I don't have a problem with bills. And, you know, I myself will put a serious sum of money protected in bills because if you're investing more than $250,000, then you really have to go to a variety of banks in order to get FDIC insurance — or even credit unions.
So if you have a large sum of money of $1 – $3 million that you just want liquid, then I use Treasury bills for that. I don't have a problem with that at all. And they keep rolling over but I know that they're guaranteed by the taxing authority of the United States government. If we're talking now, though, about amounts that are $250,000 or below, I think that you're far better off, right here and right now, putting the money in a high-yielding savings account.
So for smaller amounts of money, savings account. For $250,000 or above that you want liquidity and the highest interest rate, I don't have a problem with Treasury bills. You don't have the documents in place today to protect your tomorrows. You don't have a will. You don't have a living revocable trust. You don't have an advance directive and durable power of attorney for health care. And you don't have a power of attorney for finances. You need those things not just to make sure that your assets pass freely to your beneficiaries. You need those things for you. So here you are now and your spouse has died. Who, as you get older, who's going to write your checks for you? Who's going to pay your bills for you? If you get sick, you have an incapacity, who's going to do that? So it's very important that you get the documents that are correct.
Long-term care insurance, if you can afford it, will absolutely protect your little nest egg if one of you ends up in a nursing home. One out of three of you will spend some time in a nursing home after the age of 65. So look around and if you decide to buy long-term care insurance, the perfect age to buy it is really in your 50s. But here's the key. You better know that you can afford a long-term care insurance premium because they're not cheap. From the age of when you buy it all the way until at least 84 because it makes no sense for you to purchase it. Pay for it in your 50s, in your 60s. Now here you are in your mid 70s, you can't afford it anymore and then you drop it. You're better off just not buying it at all. Let me just put it to you bluntly. You are to stay as far away from a reverse mortgage as you possibly can. There is not one situation out there where you should be getting a reverse mortgage.
A reverse mortgage is based on the interest rates that are in effect right here and now. It's based on your age. And it just makes no sense. If you own a home and you can't afford to stay in that home — with real estate prices as high as they are — you could just sell your house right now and either seriously downsize, or there is nothing wrong with renting..
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