304: How Money Really Affects Your Happiness, Design Your Lifestyle Through Real Estate
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 3 August 2020
⏱️ 42 minutes
🧾️ Download transcript
Summary
Income over $75K-$95K does not increase happiness.
Earning over $105K actually decreases happiness.
This is based on studies from Princeton and Purdue universities.
Then what's the point of building wealth? You get answers.
These surveys do not consider replacing your active income with passive income.
Matt Bowles of Maverick Investor Group joins us to discuss: market due diligence, pandemic changes, and how to use real estate to build lifestyle design.
We also discuss changes to the rental market from 2007 to today. Ten years ago, you could buy properties for less than replacement cost. No longer.
Markets like Phoenix, Dallas, and Atlanta have largely lost their investor-advantaged status.
Check out Matt's podcast, called: "The Maverick Show".
Resources mentioned:
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Winehill. We're talking about how the income property industry has changed over the last decade plus and how you must adjust if you want to be profitable. How do you actually perform due diligence on out-of-state investment properties and use that income to help build the lifestyle that you really want to design for yourself. But first, study |
| 0:21.5 | after study has shown that if your income rises above $75,000 to $95,000, then it doesn't |
| 0:27.7 | increase your happiness level one bit. Well, then what's the point of building wealth today on |
| 0:33.3 | get rich education? Fortunately for you, Congress has made it possible to get up to $200,000 out of your current |
| 0:41.9 | 401k or TSP to invest in real estate or your own business, and that's even if you're still |
| 0:47.7 | working. |
| 0:48.4 | The thing is, you can get all this money tax-free. |
| 0:52.6 | The EQRP is your secret weapon. With the CARES Act expiring soon, the EQRP is your secret weapon with the CARES Act expiring soon |
| 0:56.6 | the EQRP company helps you unleash your retirement funds now learn more in |
| 1:00.9 | text message QRP in all capital letters to 72,000 you're listening to the show |
| 1:10.3 | that has created more financial freedom than nearly any show in the world. |
| 1:16.2 | This is Get Rich Education. |
| 1:19.3 | Thank you. Here it is. Hey, you're inside GRE. I'm Keith Weinhold, and I have got to tell you something. |
| 1:37.6 | I used to think that the pursuit of financial betterment was rather shallow. Getting rich, even going on to host a show called |
| 1:46.6 | Get Rich Education. Well, it's really about living a rich life, but we do focus on betterment |
| 1:53.4 | through financial education here. Yeah, but the real turning point for me in life was the |
| 1:59.3 | realization that you can use money to buy freedom. Ah, okay, now that was the |
| 2:05.2 | big aha moment in my life. If you can essentially trade away your dollars for freedom, that was |
| 2:13.1 | suddenly highly interesting to me. But still, what is the point? If all these studies show that if you make |
| 2:21.5 | any more than $75,000 to $95,000 a year, it's been proven time and time again not to increase |
| 2:28.4 | your happiness level one bit. In fact, a 2010 study at Princeton University is pretty well renowned. It showed that if you |
| 2:36.9 | make any more than just 75K per year, quite a middle income figure there, that it does not increase |
... |
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