The Wealthy Idiots

The Federal Reserve just released the September inflation report and it looks like we may see a Real Estate Crash! "Experts" are beginning to panic and this may mean our economy is in worse shape than we thought. Are we heading into a real recession? Is the Real Estate Crash finally here? AJ reacts to a video with Real Estate expert Jason Walter. He breaks down the data and the impact of the CPI on real estate and AJ explains what we can do to weather the storm! @Jason Walter Original Video - https://www.youtube.com/watch?v=2cFugE3CgBY The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj 00:00 Introduction 00:42 Federal Reserve Released September Inflation (CPI) Report 01:09 Introducing the reaction video by Jason Walter 01:42 Start of react video 02:08 Mortgage Rates at 22 Year High 03:02 How does Federal Interest Rates Affect Inflation? 05:48 Treasure Yields Increasing Mortgage Rates 06:27 1% Rule: 1% in mortgage equals 10% in home purchasing power 08:14 Impact of Mortgage Rates 10:00 Home Market Data; Listings, Demand, Etc 11:43 Demand is so low. It's dropped below new supply. 14:11 Home Price Drops are Increasing 15:09 What is going to happen? Is the Crash Really Here? 17:59 What can we do about the looming Housing Crash? 19:58 The Federal Reserve is trying to force a larger recession. 21:46 Conclusion

You won't want to miss this big Investing Tax Trick! There are only two things we know certain in this world...Death and Taxes. We all know that we have to pay capital gains tax when we sell an asset. However, this one trick may save you from paying any taxes at all when investing! And it has never been more applicable to investors than in todays economy! The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj 00:00 Introduction 00:48 Economy isn't super healthy 01:39 Avoid paying taxes 02:49 Tax Loss Harvesting 05:07 You can use Tax Loss Harvesting with your W-2 Income 05:34 Example of tax loss harvesting 07:58 Things to watch out for when Tax Loss Harvesting 09:15 Conclusion

Dave Ramsey's Baby Steps have been designed to help people "get by." But what if there are more powerful baby steps that can help you get rich? AJ rewrites Dave Ramsey's baby steps to show you how to long term wealth safely and successfully so that you can enjoy your future! The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Original Video - https://www.youtube.com/watch?v=LjhcB92R7M0 - @Dave Ramsey Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj 00:00 Introduction 00:41 Explaining why I want to breakdown the Ramsey's Baby Steps 01:17 Breaking Down Dave Ramsey's Baby Steps 06:25 You can strive to be better than OK 08:07 1. Understanding Networth 09:44 2. Find a balanced lifestyle 11:36 3. Build an emergency fund 13:43 4. Invest in retirement (401k) (Roth IRA) 15:12 5. Pay off debt with an interest of 5% and above 16:37 6. Save for college if you feel this is necessary 18:07 7. Invest the difference saved from paid off debt 19:06 8. Invest even more! 22:08 Conclusion

Should you pay off your house early or invest? This is a tough decision. Team Ramsey advises caller to buck the norm and pay off his house early. AJ explains how investing give the caller the financial peace he's looking for. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Original Video - https://www.youtube.com/watch?v=LjhcB92R7M0 - @Dave Ramsey Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj 00:00 Introduction 00:47 Proposal to react to Gold Digger 01:29 Start of Ramsey show, caller asks about paying off mortgage or investing 02:17 I don't have anything for my kids college 02:55 Household income is $400k 03:12 Pay your house off before the day is over 04:43 You could pay off your loan and then save up for kids college 05:31 Net-worth is more important than being debt free when it comes to financial peace 06:28 AJ will take over your mortgage for you 07:06 Rachel agrees with the Wealthy Idiots! 07:32 Debt Free DOES NOT equal financial peace 09:44 End of reaction video 09:57 If AJ takes over the loan, he can hundreds of thousands by investing 10:40 Conclusion

There is safe real estate investing and then there is risky real estate investing! AJ explains how risky real estate investing works and what you might need to know about the risks. The up side is great! But the down side could ruin your whole life. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj 00:00 Introduction 00:48 Pretend Risky Real Estate Show Introduction 01:09 Safe Real Estate 02:47 Buy Rehab Rent Refinance Repeat (BRRRR) 04:21 Financing the down payment for an investment property 05:24 Example of 0 cash Real Estate Investing 08:34 Going Bankrupt 09:22 Adjustable Rate Mortgages (ARM) 12:49 Infinite Returns on Investment (ROI) 14:42 Conclusion

"Quiet Quitting" and "Acting Your Wage" are major trends hitting social media. It encourages young people to stop competing in the job market place and to do the least work possible to stay employed. However, Quiet Quitting right now, when companies are announcing layoffs, could make it the worst time to make this semi-moral stand. AJ covers Quiet Quitting and explains how over performing in a bad economy produces better results. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj 00:00 Introduction 00:48 Viral "Quiet Quitting" TikTok 01:45 Explanation of "Quiet Quitting" and "Acting Your Wage" Movements 02:35 Is Quiet Quitting more than just a viral TikTok? 03:21 Pay will often follow the employees value added 04:36 Treat yourself like you are a business 06:00 The reasons behind Quiet Quitting may make sense 06:16 Talk to your employer about your value 07:19 Now is the time to solidify your job, as the economy begins to decline 08:51 Job growth happens when the economy turns around 09:22 Conclusion

Team Ramsey Reacts to a video "Buy Your Kids A House Now In Case They Can't Afford One Later". A Real Estate Investor is so convinced that houses will be too expensive in the future and instead of investing for your kids college, buy them a house and use the rental income to pay for college. You'll be surprised where Dave Ramsey's team lands on this one! The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj 00:00 Introduction 01:05 Dave Ramsey Video on Real Estate Starts 02:00 AJ Gives His Initial Thoughts on the TikTok video 03:46 Real Estate Isn't Passive Income...Kinda 05:15 Will houses be affordable in the future? 08:22 Leveraging to buy Real Estate 11:45 529 Education Savings 14:33 Dave Ramsey's team says debt for investing isn't the worst idea 18:01 Rental Income is not taxable 20:11 Conclusion

The wealthy use financial leverage and debt to advance their wealth. Most of us understand debt as the a method for retail establishments to separate us from out money. But the wealthy use debt to leverage themselves into greater amounts of wealth and to avoid taxes. AJ breaks down the math on why it makes more financial sense to borrow money than to withdraw from investments. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj 00:00 Introduction 01:28 Definition of "leverage" 03:10 Why do the wealthy take out debt? 05:27 Avoid taxes with leverage 06:05 Basic example of compounding interest 07:44 What happens when we try to reinvest? 09:40 What happens when we try to reinvest...but with leverage? 13:50 Conclusion

AJ takes the next step in reviewing a home for Real Estate Investing. In past videos AJ broke down how he calculates real estate numbers, gets pre-approved for a loan and starts looking for a property to begin investing. He just found a new investment property and, in this video, will show you the walkthrough of this Real Estate and how/if he made an offer. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

Dave Ramsey tells his caller that she should save for 3 years to get a dream house she could afford today! AJ explains how she can have her cake and eat it too! Her dream house is achievable AND she can do it safely and easily! Original Video: @Dave Ramsey https://www.youtube.com/watch?v=Nvc1bavR6wY The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

Brady started out house hacking, but quickly has developed top house investing strategies. With 8 doors and counting, he has begun a young and determined Real Estate mogul. AJ interviews Brady asking how he transitioned from House Hacking to develop these top House investing Strategies! The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

Manage Real Estate Risk by following these 4 simple rules. Real Estate can be inherently risky, especially when leveraging with debt. AJ breaks down the simple strategies he uses to manage real estate risk! The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

Dave Ramsey loses his mind over an Instagram Video where a debt teaches his daughter about using debt intelligently. Rachel Cruze, Dave's daughter, tries to relate and understand the dad, but they both miss the point entirely. AJ breaks down exactly what's going on here and why missing these important concepts can be bad for you. SHOUTOUTS AND RESOURCES: 1. Original Episode - https://www.youtube.com/watch?v=m_xnOVAg-GI&list=WL&index=2 2. @Dave Ramsey The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

The Federal Reserve announced that the CPI (inflation) is not as low as they would have liked it to be. This would mean that inflation will be around longer than expected and the Fed will have to be more aggressive on interest rates. AJ covers everything that's going on and we can do about it to protect ourselves. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots SHOUTOUTS AND RESOURCES: 1. Episode Mentioned - https://www.youtube.com/watch?v=z3dWf80MHU0 Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

Part 2 of the interview with Brady. In this part, AJ asks about Brady's house hacking, how he got started and how that transitioned him into real estate investing. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

Dave Ramsey gives an unusual response to a Real Estate Investor! Even his co-host was surprised about his new stance on Real Estate Debt. AJ reacts to this caller and gives a different answer on what this caller should do to build wealth and achieve financial independence. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots SHOUTOUTS AND RESOURCES: 1. Original Video - https://www.youtube.com/watch?v=aN2ROHmAOcw&list=WL&index=1&t=334s Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

There are a number of steps needed to ensure you're ready to make offers on a home or real estate, but none more important than getting a pre-approval letter from a lender. AJ explains how this process works and updates us on his pre-approval letter for his next property! The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

Brady is young man who has pushed against the traditional ideas on how to become successful. AJ interviews Brady about his Real Estate Agent side hustle, how much he makes, how he got into it and how this is impacting his success. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

A member of the military calls Dave Ramsey, and Dave's daughter Rachel Cruze, to ask about an ultimatum given by his fiancé. AJ reacts to the call and ends up having an even more conservative view than Dave! Who would have thought? The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots SHOUTOUTS AND RESOURCES: 1. Original Video - https://youtu.be/W5INLNBTY9E Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

Since the start of this inflationary run, we've been waiting for Jerome Powell to drop the big bomb. Last week, at the Economic Forum in Jackson Hole WY, Jerome Powell softly stated that the worst is yet to come. This infuriated a lot of top people in the media and politics. AJ breaks down exactly what's happening and what we should do about it. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

People believe they can't get ahead and the Biden Administration is attempting to put a bandaid on a much much bigger problem. AJ explains what is in the Student Loan Forgiveness Plan and also covers what major steps needs to be done in order to help our students for the future. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

AJ reacts to Graham Stephan reacting to a US Marine. Graham pronounces Marine Corps improperly and AJ just can't let that slide! The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots SHOUTOUTS AND RESOURCES: 1. Original Video - https://www.youtube.com/watch?v=Aofm_Fckr30&list=WL&index=1 2. @The Graham Stephan Show Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

The US government passed the "Inflation Reduction Act" which will give the IRS the funds to hire 87,000 new agents. Who are these agents coming for? And how do the wealthy avoid being audited...or even taxed at all? AJ reveals the secrets the wealthy use to get around the tax code. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

AJ explains how and and why it might make sense to get extra on your mortgage for renovations. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj

AJ explains why he picked vacation homes vs long term investment properties to start out with. The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj