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Many people don't want to hear about taking 30 years to become financially independent, until they discover that get-rich-quick schemes only make money for the promoter. Great discussions Charlie and Peter.
Thanks Cliff, absolutely true. Slow and steady give you the highest odds to win the race, but very hard to avoid FOMO and temptation to get there faster.
I agree with everything you said regarding wealth taxes. The problem I have with your presentation is that almost every homeowner pays a wealth tax on their property, and the same arguments apply. In their case where they live in their home, selling their asset to pay those taxes means finding another place to live. It drives me crazy that all the discussion today about wealth taxes misses that point. We already have wealth taxes in almost every county, parish, etc. in the country. Why are we not addressing that in this conversation? Please discuss this!
Good channel. I can't resist mentionning that "#1 Way Americans Become Millionaires" is something you hear near market tops 😁 Not that it's not true, but we're in a market phase where many people are talking about how great investing is.
Thanks for watching! Haaa. I'm 100% sure Peter views this as one of his best investments, spending quality time with his daughter. But he's also become a Swiftie himself and seems to really enjoy the concerts.
Is become so achievable because the value of the $ has dropped so much, inflation has made this possible, in under 20 years everyone will be millionaires because of hyperinflation...
While I do not object investing consistently every month for long term, why border with a stock trading channels with charts and everything everyday. 😅
Let's say I have a million in unrealized gains. It's not logical to tax it, since after a month could be half a million. I am ok with that when I don't do anything with the unrealized gains. Where I have second thoughts, is when i use the unrealized gains for anything, eg as a collateral for a loan. Since I used and benefited from the unrealized gains, I think that they need to be taxed.
Turn the insights from Signal or Noise into actionable results. Get your free Portfolio Checkup from Creative Planning today... creativeplanning.com/charlie/
Many people don't want to hear about taking 30 years to become financially independent, until they discover that get-rich-quick schemes only make money for the promoter. Great discussions Charlie and Peter.
Thanks Cliff, absolutely true. Slow and steady give you the highest odds to win the race, but very hard to avoid FOMO and temptation to get there faster.
I agree with everything you said regarding wealth taxes. The problem I have with your presentation is that almost every homeowner pays a wealth tax on their property, and the same arguments apply. In their case where they live in their home, selling their asset to pay those taxes means finding another place to live. It drives me crazy that all the discussion today about wealth taxes misses that point. We already have wealth taxes in almost every county, parish, etc. in the country. Why are we not addressing that in this conversation? Please discuss this!
Good channel. I can't resist mentionning that "#1 Way Americans Become Millionaires" is something you hear near market tops 😁 Not that it's not true, but we're in a market phase where many people are talking about how great investing is.
This was such a great episode, a joy to listen to! You guys covered everything here. I enjoy listening every week
inspiring as always! Feel sorry for Peter, too many Taylor Swift's concerts... Hope it's a good investment in daughter's love.
Thanks for watching! Haaa. I'm 100% sure Peter views this as one of his best investments, spending quality time with his daughter. But he's also become a Swiftie himself and seems to really enjoy the concerts.
Millionaires today is achievable .. now the difference is having 10million. Eventually 50% of people will be "millionaire"..😅
Is become so achievable because the value of the $ has dropped so much, inflation has made this possible, in under 20 years everyone will be millionaires because of hyperinflation...
thanks guys!
Love your content. What do you think of the book The Simple Path to Wealth by JL Collins?
Thanks for watching! Haven't read that one.
While I do not object investing consistently every month for long term, why border with a stock trading channels with charts and everything everyday. 😅
Yeah but the buying power isn’t what people think it is.
The wealthy need to pay higher taxes. The playing field is tipped in favor of capital owners and against labor.
💛💙❤
Let's say I have a million in unrealized gains. It's not logical to tax it, since after a month could be half a million. I am ok with that when I don't do anything with the unrealized gains. Where I have second thoughts, is when i use the unrealized gains for anything, eg as a collateral for a loan. Since I used and benefited from the unrealized gains, I think that they need to be taxed.