If I have $40k I'm one IRA, and $40k in another, and $20k in a 401k, does the principal still work with skyrocketing wealth, or do I have to consolidate it?
At 3:36 the renting vs owning chart a house doesn't include house upgrades, new roof, insurance, etc. My house is paid off and I just got hit up with my bi-annual property taxes.
Great video Ed! I remember Charlie Munger said pretty much the same thing: The 1st of your $100k is a bitch. I don't care whatever you do, but once you've got it, the next becomes much easier.
That's a complete false arguement If the average home price is 1.8 million dollars to save up a 20% deposit $360,000 will take a person 20 to 30s to do and then you've got your repayments which is $9,000 a month Wages have not kept up with inflation the property market is oversaturated with artificial prices based on migration You might want to get your facts right buddy
This is a dumb video. There is nothing special about 100,000 in networth. 110,000 and 90,000 is just about the same. A 7% return on 90,000 is almost the same as a 7% return on 110,000. 2 years ago, I crossed the 100,000 networth figure and nothing happened. My life didn't get better and my net worth didn't grow particularly faster than before
Fair enough, but the property market in the west will collapse, just like it did in China a few years ago and we now see the same thing happening in the US. Predict that within 5 years property in Canada and Australia will collapse as well. People need to know that property goes up and down. The current trend of property going up for decades will not last. If you buy property just before the collapse you may have to pay off debt until the end of your life. Do not fall into the FOMO trap: fear of missing out. My advice: do not buy a property in times of great turmoil and uncertainty in the world like the times we live in now. Wait until the market is in a deep recession or even depression and then buy property for next to nothing.
If I have $40k I'm one IRA, and $40k in another, and $20k in a 401k, does the principal still work with skyrocketing wealth, or do I have to consolidate it?
i agree with the pie manufacturer advice
At 3:36 the renting vs owning chart a house doesn't include house upgrades, new roof, insurance, etc. My house is paid off and I just got hit up with my bi-annual property taxes.
Another great video. Thank you Opes partners!
At 3:38 The arrow of "Owning is cheaper ..." points to the renting graph. This is confusing.
Not everyone will have 100k , it’s very hard to save these days, because of inflation and very high rent plus bills.
Great video Ed! I remember Charlie Munger said pretty much the same thing: The 1st of your $100k is a bitch. I don't care whatever you do, but once you've got it, the next becomes much easier.
Shout out to Andersons Pies! Best pies ever!
I’m tryna hit 7 figures before buying a house .
You might be leaving money on the table doing that.
@@samwise5493nah definitely leaving money on the table with that game plan
Great stuff but the way bro haha 🙏🏽 always providing value
That's a complete false arguement
If the average home price is 1.8 million dollars to save up a 20% deposit $360,000 will take a person 20 to 30s to do and then you've got your repayments which is $9,000 a month
Wages have not kept up with inflation the property market is oversaturated with artificial prices based on migration
You might want to get your facts right buddy
Oh he does not know the gen on Tik Tok is Brian Tracy.😆
what was his pies like? where? FERGS BURGERS $1.2 MILLION T/O WEEKLY?
This is a dumb video.
There is nothing special about 100,000 in networth. 110,000 and 90,000 is just about the same. A 7% return on 90,000 is almost the same as a 7% return on 110,000.
2 years ago, I crossed the 100,000 networth figure and nothing happened. My life didn't get better and my net worth didn't grow particularly faster than before
Fair enough, but the property market in the west will collapse, just like it did in China a few years ago and we now see the same thing happening in the US. Predict that within 5 years property in Canada and Australia will collapse as well. People need to know that property goes up and down. The current trend of property going up for decades will not last. If you buy property just before the collapse you may have to pay off debt until the end of your life. Do not fall into the FOMO trap: fear of missing out.
My advice: do not buy a property in times of great turmoil and uncertainty in the world like the times we live in now. Wait until the market is in a deep recession or even depression and then buy property for next to nothing.