Profit forever with PASSIVE INCOME to replace your full time job! 😳💰

rich mindset. how to get rich. get rich investing. millionaire mindset. passive income to replace job to quit job and live off dividends.
#passiveincome #dividendinvesting #richmindset
*not financial advice

[vincentortega]

Reading rich dad poor dad opened eyes to financial basics. Schools do not teach basics of finances or investments. God bless you Professor G. Ignore the haters

[jeffprager]

G, Does it make sense to put more into 401k and draw down my savings.

Ty

[mitchhaunn]

Great advice Professor! Thanks for sharing your knowledge with us!

[keystonekabes]

I’m doing that for my vacation fund. When ever I spend on medical care I reimburse from my HSA into a taxable account where I (generally) invest in higher yielding tax deferred vehicles. Once I get 2k per year in passive income I intend to use the distributions to fund my vacations in perpetuity.

[Jason-os]

Cheer~~~a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.😊

[dontamputate]

Works until the house becomes a money pit, or goes unrented. Home owners insurance went up 30% just this year in CA. A $1000 profit is after taxes so you need an emergency fund and prolly an umbrella insurance policy to protect ur assets. We get the concept, but risk must taken seriously and planned for.

[christophersukkar]

I wanna do rentals but at the same time it just seems like a huge pain in the ass, so I stick to stonks

[webdriverguy]

Pls elaborate where you would put a down payment of 50k for house and how you would net 1k in profit, minus the property management fees if you go via that route, if you don’t your time has to be counted towards managing the property you just put for rent. Pls explain this to your viewers before making a blanked statement.

[waterfordrs]

The concept itself as a whole is fine. That said, you don’t simply buy a house mostly on borrowed money and expect to instantly make 1K a month. A single family home makes a rather poor rental property. It places all your income into one basket - one tenant. Tenants get behind in rent, lose jobs, cause damage, run up massive water bills etc. then there’s general maintenance, insurance, possible rental permit limitations and so on.

Most people are much better off sticking to ETF. Owning a rental property is not easy, a lot of stress for many people and often a lot of work. Are you handy with electrical and plumbing issues? Do you have time and energy to mow a bunch of yards…..

Obviously there’s lots of people making a lot of money this way, but with a lot of properties, you’re lucky to break even, at which point you’re simply building equity steadily over time, but all that money is tied up. It isn’t all that easy to borrow against all that equity these days, not like it was years ago anyway.

The basic idea of taking a big lump of money and investing it in something is obvious, but a rental property for most people isn’t a passive thing. Yes there are property management companies that can be hired, but that’s yet another expense.

There’s no house that’s spitting out a profit every month.

[MrSaffronSky]

This is not a realistic example. It is very ideal and not practical. One ends up paying interest on Car and Home. How much value is one getting? By the way...Robert Kiyosaki gets cheap or no interest loans from Japan 🤑 not in reach for many.

[absent-]

where do u live that that would work?
also yeah u could do alot if 50k just fell on your lap

[Midnightmurmurs-]

Yeah, but I first need a job. The job market is on some bullshit nowadays. "Gohst posters via job boards" 2 months interview. = No hire

[benjaminghiglione]

Why are you quoting a scam artist 😅😅😅😅😅😅😅😅

[linhdoan]

Now market doesn’t allow you rent it for profit. You have to put more down like 30-40%to get profit, amount of rent money does not enough to cover mortgage, property tax, insurance. It is easy to say, in real life you get hit with that idea unless you have really strong income to cover for things happen like no renter in 2-3 months, ac broke, renter does not pay for rent, etc . Drama !

[joshs.]

Look another “what rich people do” clone channel
Nothing new or creative about this

[sportsfanatics]

If your profiting 1000$ from rent after you pay the mortgagee (he said down payment on a house) your the greed that's wrong with this country

[Retler]

You live in Cali… where did the Y’all come from? 🤣