Market Report: HOW MUCH MONEY DO YOU NEED FOR FREEDOM
Market Mondays
EYL Network
5.0 • 4.1K Ratings
🗓️ 8 October 2021
⏱️ 13 minutes
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Summary
In this Market Report we talked about how much money you need for financial freedom. #stocks #investing #financialfreedom
Link to Episode: https://youtu.be/a1fyip5iOrE
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Transcript
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| 0:00.0 | A couple of questions that I want to leave with what the first is we spoke about this briefly, but |
| 0:08.5 | I |
| 0:10.5 | Before we even get into this conversation |
| 0:14.1 | The levels of wealth and this is something that you had posted |
| 0:18.8 | And I just thought that it was pretty interesting because it was like zero to five hundred thousand is |
| 0:24.4 | I believe you said broke |
| 0:26.4 | I didn't say that |
| 0:28.4 | But that was opposed and then five hundred to two million was middle class and then two million to |
| 0:36.0 | Ten million was like comfortable and then ten million. So yeah, let's talk about this different levels of wealth conversation |
| 0:43.7 | When I first saw this post maybe 14 years ago. I had the reaction to most people did |
| 0:48.8 | It was like what the fuck like |
| 0:52.0 | Huh really because growing up in |
| 0:54.8 | Uh |
| 0:56.8 | A harsh economic environment you were told like if you got to a hundred thousand you were doing well |
| 1:01.0 | But they're like there are literally levels to wealth so for context when becoming a million there became a thing |
| 1:07.4 | That was in the 1800s |
| 1:10.1 | So if you adjust for a million dollars today going back to 1800 that I put you somewhere in between twenty one million to twenty nine million |
| 1:17.2 | Depending on where you live and this is why |
| 1:19.8 | athletes that are top two athletes in the NBA make between 20 to 30 million dollars per year |
| 1:27.2 | Um, I don't want you guys to get discouraged, but I do want you to know |
| 1:31.9 | because of inflation |
| 1:33.9 | A falling dollar and a bunch of other macro economic factors |
... |
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