Wed, 21 July 2021
1715: The Future of Real Estate, Importance of Learning Personal Finance & Building Long Term Wealth
The future of real estate and the future of renters looks pretty good. But that doesn't mean you can just buy and forget your investments, you still have to manage them. Jason Hartman recently did some reading on American's personal finance education and habits, and came away disillusioned.
Listen in as Jason goes over some important things about personal finance, and why you want to be a dairy farmer, not a cattle rancher.
[4:00] Used cars have actually APPRECIATED lately
[7:26] Only about 50% of states require high schoolers to learn about personal finance
[10:39] About 80% of millionaires inherited nothing, and 27% of them never earned $100,000 in a year
[13:55] We need to delay gratification, but give ourselves some rewards along the way
[18:21] Are you a cattle rancher or dairy farmer?
[20:46] Muthiah's 5 Year Plan