TheWealthCoach
@indexnforgetit
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Author of Intro to Investing || On a mission to help 1,000 people learn how to start investing || DM for help with Twitter growth
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Joined July 2020
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Pinned Tweet
Housing prices since 1942
"This time is different"
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64
505
Investor's be like:
401k $215,000
Brokerage account $87,300
Savings account $10,000
Real estate equity $264,000
Checking account $314
"Sorry, I'm broke"
153
510
6K
Dave Ramsey didn't get to be worth $200million by never using a credit card and paying off his home early
He got to $200million by selling that idea to you
171
435
4K
Dave Ramsey didn't get to be worth $200million by never using a credit card and paying off his home early
He got to $200million by selling that idea to you
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180
3K
Dave Ramsey didn't get to be worth $200million by never using a credit card and paying off his home early
He got to $200million by selling that idea to you
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197
2K
Hot take
DoorDash and UberEats are the biggest wastes of money of our generation
266
137
2K
Investor's be like:
401k $533,000
Brokerage account $168,300
Savings account $10,000
Real estate equity $984,000
Checking account $314
"Sorry, I'm broke"
131
120
1K
The American Dream:
- $200k on college
- $15k engagement ring
- $40k wedding
- $60k car
$315,000 of debt before age 25
Sounds more like a nightmare
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181
1K
Middle class mindset:
- $500k mortgage
- $60k car note
- $300/month phone bill
- $100k student loans
- $60k salary
Avoid this trap at all costs
117
120
1K
@InternetH0F
Her: "Ok cool... so I'll call you sometime" **immediately deletes number and files for restraining order
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3
1K
$50k/yr job with a suit and tie everyone thinks you're successful
$150k/yr job with a wrench and a toolbox everyone thinks you're poor
90
127
1K
Middle class mindset:
- $500k mortgage
- $60k car note
- $300/month phone bill
- $100k student loans
- $50k salary
Avoid this trap at all costs
112
134
1K
"My parents and grandparents were able to buy a home on 1 income"
They also got about half the house...
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110
973
Do I think Bitcoin has no place in my portfolio?
Yes
But is there a chance I could be wrong?
Also yes
So I'll put $1 into Bitcoin for every like this gets
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920
Investor's be like:
401k $215,000
Brokerage account $87,300
Savings account $10,000
Checking account $314
"I'm broke"
50
106
917
@RealEstateMaxi
I just closed off my foyer completely and made a 4th bedroom
$5k and a few weekends added around $35k in value
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3
923
Investing $500-$1000 every month into index funds is an almost guaranteed way to become a millionaire
So why do most people not do this?
261
59
905
Just overheard a coworker tell another "I go home every night after work, take a shower, order dinner, sit down and watch TV until I fall asleep"
Do people really live like this?
334
28
902
Investing $500-$1000 every month into index funds is an almost guaranteed way to become a millionaire
So why do most people not do this?
169
87
879
Dave Ramsey didn't get to be worth $200million by never using a credit card and paying off his home early
He got to $200million by selling that idea to you
68
87
865
Investor's be like:
401k $215,000
Brokerage account $87,300
Savings account $10,000
Real estate equity $264,000
Checking account $314
"Sorry, I'm broke"
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70
843
“Middle class” is really just the poor with access to credit
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141
749
Took my wife on a date night for wine and painting last night
Boy was she surprised when I grabbed a bottle of wine from home and we ended up painting the walls at rental
#3
😬
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695
How exactly would you tax UNREALIZED gains?
Would you get money back if the asset drops in price?
Make it make sense
Oh my god…
I missed this originally but he’s also proposing a 25% tax on UNREALIZED gains.
UNREALIZED.
That’s for wealthy individuals but still, absolute insanity. A lot of people would just leave the US and the government would likely have less tax revenue than before.
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4K
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@FluentInFinance
Thread coming tomorrow on how to tank your credit score and get a better mortgage rate
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28
655
Investor's be like:
401k $215,000
Brokerage account $87,300
Savings account $10,000
Real estate equity $264,000
Checking account $314
"Sorry, I'm broke"
56
62
643
Dave Ramsey is right about:
- Paying off credit card debt
- Living within your means
- Getting your finances in order
But he's wrong about:
- Investing in mutual funds (with high fees)
- Paying off a 3% mortgage
- All debt being bad
Everything in balance
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65
617
Levels of financial freedom:
1. In debt
2. Paycheck to paycheck
3. Some savings
4. Started investing
5. Passive income covers some expenses
6. Passive income covers all expenses
7. No longer have to work
What level are you?
142
103
612
$50k/yr job with a suit and tie everyone thinks you're successful
$150k/yr job with a wrench and a toolbox everyone thinks you're poor
71
65
614
16.8% of car buyers in Q1 2023 committed to $1,000/month or larger car payment
Have people lost their minds??
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593
Real men don’t leave the house in sweatpants
I said it
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601
Hot take:
Of all the real-life millionaires I know, not 1 drives a Toyota Corolla
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594
I spent over $40,000 on a finance degree and here's what I learned:
Invest in index funds and ETFs
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538
Investing $500-$1000 every month into index funds is an almost guaranteed way to become a millionaire
So why do most people not do this?
155
57
524
Investor mindset:
Retirement accounts: $1.4million
Real estate equity: $918,112
Brokerage account: $378,468
Savings account: $27,377
Checking account: $312
“I’m broke”
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64
532
If your realtor shows up dressed like this you're not E-signing anything
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510
$50k/yr job with a suit and tie everyone thinks you're successful
$150k/yr job with a wrench and a toolbox everyone thinks you're poor
54
61
502
Investing $500-$1000 every month into index funds is an almost guaranteed way to become a millionaire
So why do most people not do this?
80
51
486
The "middle class" is really just the poor propped up by debt
And most are 1-2 missed paychecks away from collapse
59
76
486
Investor's be like:
401k $215,000
Brokerage account $87,300
Savings account $10,000
Real estate equity $264,000
Checking account $314
"I'm broke"
42
43
485
@creation247
I’m all for going to church
But did I miss a satanic ritual during football games that happens?
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0
479
Investing $500-$1000 every month into index funds is an almost guaranteed way to become a millionaire
So why do most people not do this?
38
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459
3% mortgages are assets people aren't willing to give up
50
32
461
Closing on this gem Monday
$114k
$0 renovations
Have renter lined up for $1050/month
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457
@Thefrugalgay11
Why would a squatter who's doing something illegal have rights in someone else's home?
The whole idea is insanity
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6
459
Investing $500-$1000 every month into index funds is an almost guaranteed way to become a millionaire
So why do most people not do this?
86
52
435
People will spend $900/month on a car payment, but won't invest $500/month in the stock market
Why is that?
193
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441
Using the 4% rule, it would take $2.5million of your own money invested in the market to have $100k/yr in income
But $100k/yr income from real estate could take as little as $400k of your own money invested to achieve
Let's break it down 👇
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441
Unpopular opinion:
The "middle class" is propped up by debt and 3 missed paydays away from collapse
69
61
432
Unpopular opinion:
Student loans aren't the problem, predatory lending isn't the problem, even the government isn't the problem
Colleges selling degrees that don't produce a proper ROI are the problem
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47
433
Middle class mindset:
- $500k mortgage
- $60k car note
- $300/month phone bill
- $100k student loans
- $60k salary
- No investments
Avoid this trap at all costs
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73
427
Play life like monopoly
Year 1: 🏠
Year 2: 🏠🏠
Year 3: 🏠🏠🏠🏠
Year 5: 🏠🏠🏠🏠 🏢
Year 10: 🏠🏠 🏠🏠 🏢 🏢🏢 🏢🏢 🏢
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53
432
$8 eggs aren't keeping you broke
Your $4000 mortgage, $900 car payment and addiction to subscription services is keeping you broke
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Dave Ramsey says all debt is bad
Grant Cardone used debt to accumulate real estate and now has a net worth of $2.6Billion
Who's right?
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410
I’ll say it again
Paint is the biggest ROI in real estate
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397
Investor's be like:
401k $215,000
Brokerage account $87,300
Savings account $10,000
Checking account $314
"I'm broke"
28
40
396
Student loans being reinstated could be what pushes us into a recession
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40
383
“$1million is NOT a lot of money”
- Billy, 28, lives at home, net worth -$89
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College degrees aren't a scam
Picking the wrong major with no clear career path is a scam
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380
Investing $500-$1000 every month into index funds is an almost guaranteed way to become a millionaire
So why do most people not do this?
67
46
383
Levels of financial freedom:
1. In debt
2. Paycheck to paycheck
3. Some savings
4. Started investing
5. Passive income covers some expenses
6. Passive income covers all expenses
7. No longer have to work
What level are you?
97
65
387
If you haven't changed jobs in 3 years or more
You're missing out on what could be the biggest raise of your life by leaving
24
57
383
@egoofsigma
Not smoking at all is for people who respect their bodies and want to live a healthy life
5
13
377
College isn't a scam
You picking a major with no clear career path is the scam
98
35
393
Purchase price: $70,000
Rehab cost: $0
Rent: $920/month
Good school district, C neighborhood
These are the homerun deals in my market
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382
1. Buy a house with 20 yr mortgage
2. Rent it out
3. Wait 20 years
4. You now have a paid off asset worth $300k+
5. Repeat as often as you can
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39
381
Investor's be like:
401k $215,000
Brokerage account $87,300
Savings account $10,000
Checking account $314
"I'm broke"
32
48
365
A career path toward a low-stress job paying $100k+ is a wealth hack
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19
379
Nobody wakes up and says "I want to work a job I hate, drive 45 minutes home, ignore my family, eat garbage and consume Netflix until I pass out to do it all over again for 40 years"
Yet that's what most do
Why?
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368
Here’s a throwback from the time I added a 4th bedroom for $5k adding $30k in equity to our house…
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Investing $500-$1000 every month into index funds is an almost guaranteed way to become a millionaire
So why do most people not do this?
73
30
362
Tax evasion is illegal
... but tax avoidance is legal and necessary to protect your hard earned income
Here's 5 ways to reduce your tax bill LEGALLY (
#3
is a GAME CHANGER)👇
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361
The U.S. dollar is at risk and no one is talking about it
Here's what you need to know 👇
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361
Using the 4% rule, it would take $2.5million of your own money invested in the market to have $100k/yr in income
But $100k/yr income from real estate would only take roughly $400k of your own money invested to achieve
Let's break it down 👇
THREAD
🧵🧵🧵🧵🧵
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360
Do you agree with Dave Ramsey's baby steps?
1. Save $1,000 for emergency fund
2. Pay of all debt except home
3. Save 3-6 months expenses
4. Invest 15% of income
5. Save for children's college
6. Pay off home early
7. Build wealth and give
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363
Same people rooting for $15 minimum wage 3 years ago are complaining about food prices now
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My 2.9% mortgage is an asset not a liability
Will not debate
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25 money commandments to live by:
1. Buy real estate
2. Index it and forget it
3. DCA > timing the market
👇
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364
@TrailerParkGuy
Employers give you no loyalty and you should give none to them as well
Sadly this is reality for most... some employees genuinely work hard, do extra and care about what they do only to get handed more work as a reward
9
5
360
Unpopular opinion:
You don't need an MBA to make six figures
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21
354
Investor's be like:
401k $215,000
Brokerage account $87,300
Savings account $10,000
4 rentals with $300,000 in equity
Checking account $314
"I'm broke"
30
42
353
Finding unused space to add a bedroom is the biggest ROI in real estate
Change my mind
41
14
350
Student loan payments will come back for 7.8million borrowers August 30th this year
Most assumed they were gone forever and have already inflated their lifestyle accordingly
Will this be what pushes us into a recession?
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350
Bought this house in 2021 for $70k
Put literally $0 into it
Rents for $920/month and has appreciated roughly $30k since purchase
If I could find 30 more like this I'd buy them all
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348
Canada is introducing Universal Base Income
All citizens will be eligible for $2,000/month
Will this help solve poverty and the wealth gap?
334
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Investing $500-$1000 every month into index funds is an almost guaranteed way to become a millionaire
So why do most people not do this?
56
27
341
@financecowboy
Debt up to their eyeballs and 1 missed day of work away from it all collapsing
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4
339
Mistakes that will keep you broke:
- Carrying credit card balance
- $900/month car payment
- Eating out 3 times per week
- Too many subscriptions
- Never learning a high income skill
- Renting instead of owning
What else?
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342
What society tells you is normal:
- $200k on college
- $15k engagement ring
- $50k wedding
- $60k car
- $800,000 house
Is this the American dream?
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337
You guys know you can drive a car and not have a $500/month car payment, right?
🤔
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335
"The schools didn't teach finance skills, that's why I'm broke"
They also didn't teach you how to watch Netfilx and play video games, but you figured that out on your own
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334
The greatest scam in the history of the world was convincing people it's normal to buy depreciating "assets" on credit.
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Middle class just giving up the wealth willingly:
- Latest Iphones
- $60k cars
- Latest gadgets
- Eating out 5x per week
- Multiple subscriptions
- Being the Jones's
The Top 1% of U.S. earners now have more wealth than the entire middle class
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