I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
Since the outbreak of 2020, which had a significant impact on the market, I've been running all of my investment decisions through an investment coach because their entire philosophy is centered around using a high-profit oriented blueprint while simultaneously going long and short, as well as reducing risk exposure as a hedge against inevitable downtrends. Underperforming is almost impossible when combined with their access to strange data and analysis.
'Sharon Ann Meny' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
The problem with huge debt, massive leverage, and playing in the governments tax sandbox is that with one stroke of the pen the government can change the tax code and wipe out your entire fortune. Super high risk with a potential super high reward. Just know what you are getting into.
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
The biggest thing I learned from this video was 50% of investing is buying good companies at good prices and the other 50% is controlling your emotions when . market is moody.I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.
To achieve greatness, you need to start working with a Financial Advisor. Investing remains the smartest way to prepare for the future.Have been working with ROCH DUNGCA-SCHREIBER for 8years and I'm extremely pleased with the good returns. The good news is, it's never too late to start investing.
Credits to ROCH DUNGCA-SCHREIBER, she saw me through the process. You can glance her name up on your google and verify her yourself. she has years of financial market experience...
*EVERY FAMILY HAS SOMEONE WHO BREAKS THE CHAIN OF POVERTY IN THAT FAMILY,I PRAY YOU BE THE ONE, KEEP INVESTING! AND REINVESTING!! UNTILL IT BECOMES A CULTURE!!!*
Starting early is the best way of getting ahead to build wealth,investing remains the priority. Forex trading has plenty of opportunities to earn a decent payout,with the right skills and proper understanding of how the market works
I totally agree with you,Forex trading is the most profitable venture I ever invested in,I reached my goal of $500k yearly trade earnings, setting realistic goals is an essential part of trading
Hello I'm new to forex and I have been making huge loses but recently I see a lot of people earning from it,please can someone please tell me what is going wrong
These frequent tax code changes are disrupting my long-term investment strategies. Are there ways to structure my investments to be more resilient to potential tax code modifications?
Tax code changes taught me to you can build resilience into my portfolio. Diversification is key! My set manager helped me spread my investments across different asset classes like stocks, bonds, and real estate so that a positive tax code cha age here can help minimize the impact of aa negative tax code change there adjustments.
I agree. Based on personal experience working with a financial manager, I currently have ($2million) in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
I need to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K from my cash savings.
diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor to help you invest in tax advantaged accounts.
Low six-figure income, no debt, nearing mortgage payoff ($400k property), age 43. Invested over 15x annual salary, amazed by focus on scraping by in retirement. Aim for surplus. My goal: retire at 55 with $5M. Unless the markets crash, these two points should align. I'm quite lucky to have started working with a financial advisor early.
This is mind blowing! As a young adult inheriting about $500k and new to stock investing, I'd greatly appreciate it if you could direct me to your advisor. I can't afford to make costly mistakes.
Instead of thinking about becoming a millionaire we should be teaching people fiscal responsibility. Live below your means, invest for retirement, have 3-6 month emergency fund, save for your children’s college, pay off your mortgage (unless interest if less than 4%). Only when you have met these requirements then take risks in the stock market.
Fiscal responsibility is crucial, but it's also important to seize opportunities for financial growth. While building savings, investing for retirement, and maintaining an emergency fund are essential, the stock market, when approached with caution and risk management, can help build wealth. It's about balancing caution with taking calculated risks to grow financially, with diversification playing a key role
*Julianne Iwersen-Niemann* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
I’m making outstanding progress with my money decisions. I put in 20k into various assets last year and flipped into six figures aside from taxes within a few months and still going. I’ve always been an advocate of investing because it has been rather rewarding. I hope to attain financial freedom soon. One more thing, great content brother.
It’s not rocket science. As I said previously, I got into stocks, index funds, and REITs, myself but wasn't getting the results I wanted the first couple of months. Got tired of losing and decided to seek mentorship from Jonas Herman, a certified fiduciary who helps oversee my investments.
I got on one of his programs too and gained a lot. Although I feel his commissions are quite on the high side for me, overall, his service is applaudable.
As recession fears mount on Wall Street and inflation remains well above the Fed's 2% target, some of the top commentators in markets, business, and economics have been sounding off on just how bad they think the next downturn might be - and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
I started working with Alex back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market??
Research stocks with yields that exceed the market and stocks that, at the very least, follow the long-term market trend. However, you should get guidance from a financial advisor if you want to create a successful long-term plan
I agree, I've been in constant touch with an Investment consultant for approximately 17 months. These days, it's really easy to buy into trending stocks, but the task is determining when to sell or hold. That's where my advisor comes in, to help me with entry and exit points , I've accrued over $337k from an initially stagnant reserve of $148K all within 18 months...
As much as this is achievable, this video also proves how much we need concrete understanding of a particular sector as investors because playing the market blindly or solely of technical is a big risk.
It's possible to statistically measure whether some decisions are wise. In the real world, it’s a lot more harder. We prefer faster gains or simple stories, which can be easily manipulated in other for you to like what you hear but often devilishly misleading. Right now there is little volatility which makes prediction harder & losing capital easier.
@Jon Yes you’re right, there’s more to the market than technicals which is why analysis are best made by or under the supervision of an expert. I’ve had significant increase following the help of a professional.
@@Gregfreemann Forehand I know the powers of coaches too. Coming from someone who's witnessed consecutive ups and downs, debt, getting ripped off trading scams, get rich quick scheme, ponzi. Literal bankruptcy, you name it, Having a coach made it a lot more easier. I know how discipline is essential to grow. Matter of fact having received advice from my coach, I started my pod, a little ytube, and passively earn and hold a $293k ptf with Yvonne Annette Lively. So yes guys, life coaches are indeed important.
@@maryalchester Looked her up a while back. Haven't made a move yet but her records are detailed. I think it’s nuts averaging a 15% mroi considering the economic decline.
Major flaws in this strategy: 1) Assumes capital markets are robust and that debt is available whenever you need it, at rates that make the deal pencil 2) Accelerated depreciation is a temporary feature in the tax system that will gradually phase out, starting in 2023 3) Most cost segregation studies will yield about 30% of total value that can be depreciated in year one, not 50% 4) You must pay tax on "depreciation recapture" ie, all that "free money" will eventually be taxed 5) Other tax avoidance strategies to avoid this tax in #4 can be changed in congress, and 10-31ing into new deals often makes people choose poor properties 6) Using 70-80% leverage means you are more exposed to market fluctuation risks, meaning that a small dip in property income can lead you into default 7) There just too many amateur "real estate investors" that have bid up valuations to the point where many deals have zero/little yield as buyers looking to "do their real estate hustle" have bid up properties to such a point that class-C multifamily in South Carolina trades at a 6% cap rate. Anyways, Grant knows this all, but this is for you folks that don't know, and think they have just stumbled upon the "one weird trick the rich use to stay wealthy". It's not so easy in other words, and the amateurs, when they fail, will have their assets flow to those who have the liquidity.
If we are being truthful to ourselves, just like the rich, taxes can be a big pain. Income tax, value added tax, property tax, etc. Paying taxes is good, but we could also create our own tax havens. I personally put my money mostly in the stock market, since its appreciation is not taxable, and then when I sell, I find ways to make the income non-deductible in taxes. I 'm currently sitting on more than $327k of cash, and I'm definitely throwing it in the market. Just thinking of how to not lose it all, since the market is red.
It upsets me how simple things like this are not taught in school, and then people complain about taxing the rich everyday, as though the rich should pay for their own ignorance. I have been doing the same thing myself, using the market to shield myself from the market. But I hate making mundane decisions, so I just invest through an advisor, making good profits, avoiding taxes, while doing very little work.
Just some ideas because I do not know your situation: If you set up or have a profitable small business and are a high income earner, you can put about $66,000 into a SOLO 401(K) and get a tax deduction for it, or double that if you are married. You can also elect to set up a SOLO ROTH 401(k) and put up to $66,000 in there without any income limitations like you get in a regular ROTH IRA. The downsides of this are that you have to wait until 'retirement age' at 59 and a half, but they are good for lowering taxes in the current year and creating tax balance in retirement. The real estate approach that Cardone mentioned is amazing, especially if you have an ultra-high income. You get instant passive income, and a growing asset with tax breaks due to depreciation! Assuming you like to put your money into the stock market, you can also dollar cost average into the market in a non-retirement account, and as the portfolio grows larger over time, use a portfolio line of credit or securities-based line of credit to use a portion of your portfolio as collateral against a lower interest loan. That is a non-taxible transaction, and becomes more and more feasible as your portfolio grows over time. Personally, I have been focusing on undervalued dividend stocks this year. Another thing is to consider having a larger than normal cash position in your portfolio, like between 10 -20%, but still under the SIPC insurance limits of course. None of this is financial advice just ideas, but feel free to reach out if you want to brainstorm.
I cant understand why we gotta fill out those tax forms. That's like a 13 hour task. Wouldn't it he easier if the IRS just took out the money we owe out of our paychecks. I mean they get our actual tax money, isnt that what matters.
Weren't You Listening To Grant?....Why Put That Type Of Money Into Stocks When There Is No Real Security Behind Stocks (Let's Be Honest)....Having Some Stocks In Your Portfolio Is Good For Diversification, However, Personally, I Would Put About 10-15% Of That Money Into Crypto And The Rest Into Real Estate....
Thank you Casey, I was looking for a good Taxes book where they teach or talk about all these strategies GC is teaching on the video. What other Tax books do you recommend?
Yes, Tax Free Wealth is packed with gold nuggets of info. It parallels what Grant is saying. I’m on chap 20 of the book. Keep teaching Grant !!! Love it !!
The FED has lost it and the sad fact is, it's pretty obvious we are headed for hyperinflation. I think stores better have tight security because when people can't afford to feed their families, things might get ugly
Might?.. have you been grocery shopping lately? Things are already ugly. The best bet for anyone with a brain is to get in on a passive income stream while you still can, doesn't matter which one it is just get on it and stay committed.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don't know who agrees with me but either way I recommend either real estate or crypto and stocks.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don't know who agrees with me but either way I recommend either real estate or crypto and stocks.
Crypto is bringing a different revolution in the world economy. People who are optimistic investors earn consistently.... Others will just sit and watch!.
Great video. I watch several youtube videos on how to trade in the market but haven't made any headstart because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
The best strategy to use in trading is to trade with a professional who understands the market quite well, that way maximum profit is guaranteed, I'll highly recommend Katrina susan, she is my current trader and her strategies are working
I'm amazed you mentioned katrina susan, she is the best and her strategies works like magic. I've been making over 80% of my investment weekly since I started investing with her trading service
This is not the first time i am hearing of Katrina susan and her exploits, how she handles investments and generates good profits, she has really made a good name for her self, but i have no idea how to reach her
Note to add, if you reduce your personal tax bill to zero by buying properties or any other cash flowing asset you will pay taxes just in different forms i.e sales taxes, property tax, business payroll tax etc. But he is spot on about reducing your personal federal taxes.
True. W2/1099 income is taxed ar the highest rates. I'm currently investing into a lot of dividend stocks. My parents invested heavily into real estate. They earned too much money and banked credits for close to 20 years. Meaning now with multi million dollar net worth. They earn over six figures in passive income. They paid almost nothing in taxes the past couple years. They even received/qualified for the stimulus checks lol. Their taxable income last year was under 40k. Property taxes taxes are their highest expense now.
AND you'll eventually have to recapture what you "avoided". I wrote down 2 million this year via an aircraft purchase leveraging bonus depreciation (section 179). It's nice, but it's temporary. The Fed eventually gets their money.
@@sleepyhorses6100 I’m doing my best to understand all that Grant explained, I may have to watch the video a few more times, but I’ve a question to your point, so to continue not paying the taxes or receiving the “tax credit” is that where you continue reinvesting?, so in other words repeating the game?
I did this 2006 (UK Scotland), in a much smaller scale and it set up then when I was thirties! After watching this video and a few more of Grant's videos it has given me the inspiration to do it all again; on a bigger scale, for fun, my future and my family. Thank you for re-igniting the fire! Graham
Do you invest in residential property in the UK? If so how have you dealt with no longer being able to properly claim mortgage interest as an expense? Cheers.
IRS tax code allows investors to depreciate the improvements (buildings, etc.) related to real estate. However, if you sell your real estate investment after 20 years and the property has increased in value, the IRS wants their money back and will assess you at a 25% tax rate on the amount you have previously deducted.
@@pardonndlovu1220 If you don't sell then after the property is completely depreciated you will have no deductions. So it is wise to sell and buy another property to reset the depreciation clock.
Reinvest. I do not make millions but the profits I make in my business, I buy stuff for work. People were mad at Amazon not paying taxes. It's because they reinvested into their business. Thats the easy way to do.. other way is to buy art, thats tax free too.
Having harbored financial concerns throughout my entire adulthood, it's intriguing to watch this video and recognize the potential for significant achievements with proper goal-setting. Experiencing the freedom of not being consumed by financial worries that haunted me for numerous years is genuinely liberating. I believe this is the outcome of consistently putting in diligent effort for the future.
@@JP-ne7xj no he isn’t, you’re missing what he’s saying entirely because you want to be critical. Capital gains are paid when you sell real estate unless you 10-31 into like real estate.
@mackenzie fventes Used to see Chris and Briana vids promoting him. It's been a while though. Learned he is a mentor to quite a good number of reputable pros here.
@@tucuxi70 Yes, but I don't see a problem with what he says otherwise. Do you? Honest question, because it like it. I'm more annoyed that half of the profiles in this thread were made within a day of each other. I just hope the person trying to rebuild can do it without losing people's money this time.
I was able to save a lot of money in 3 years. I landed a 3 year consulting gig paying over $100K a year. I reside in the mid-west where there is a lower cost of living. I lived with my Mother ( I paid her rent). During this time I also paid off my $15K student loans and $18K Jeep. Now I have zero debt, still making over $100K and able to focus on building wealth via investments,etc
Diversification is key. 1. Own a profitable business 2. Own real estate 3. 401k or retirement plan 4. Personal stock portfolio 5. Continue to add to each bucket continuously as much as you can. 6. Always keep 10% to 20% cash or available capital to take advantage of investment opportunities.
My wife and I are retiring this year with over $6,000,000 in tax deferred investments. up until 3 years ago we were 100% in the S&P. During bear markets we had a perfect plan. We got an investment manager in our corner and didn’t look at our portfolio for nearly a year. Just kept buying at low prices.
it's not recommendable to go into trading or investment when you don't know how it's done, Investing with a good guide is the best way to get started in the trade market. would free you from modern financial slavery....
Real Estate provides cashflow, tax benefits, equity building, competitive risk-adjusted returns, and inflation protection on its own. Whether you invest in physical properties or REITs, real estate may help you diversify your portfolio and reduce volatility. Dividends are what got me into investing in REITs, great way to secure the accumulate wealth, I hold AMT, CCI & PSA. $290k in profits made in 2022.
Consistently investing in high quality dividend paying REITs & companies over the long term is a relatively easy strategy to create generational wealth. My "boring" REITs portfolio paid me over $4,000 in dividends last month.
It's time to make high value games! Discounted dividend stocks. Ever grateful to my CFP "HELENE CLAIRE JOHNSON", I now have a six-figure REIT portfolio, which includes, but is not limited to; AMT, SPG & PSA.... I now have 606 shares of AMT which pays dividends of $3800 per year.
It's time to make high value games! Discounted dividend stocks. Ever grateful to my CFP "Helene Claire Johnson", I now have a six-figure REIT portfolio, which includes, but is not limited to; AMT, SPG & PSA.... I now have 606 shares of AMT which pays dividends of $3800 per year.
Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?
I'd avoid the index funds, mutual funds, or specific stocks for the time being. The 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows sign of recovery.
This is why I entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
There are many independent advisors to choose from. But I work with Monica Shawn Marti and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.
I really appreciate your useful advice. I was able to set up a call with her and confirm her identity. She seems incredibly knowledgeable, and I appreciate your advice so much.
Great video! I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
This is a well detailed and informed video. I'm here to learn how to invest after listening to a guy over the air talk about the importance of investing and how he made $410,000 in 5months from $180,000 startup. Somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas
Having monitored my port_folio performance which has made a jaw dropping $370k from two quarters alone, I've understood why experienced investors make enormous returns from the market
Interesting, I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself. Do you trade on your own?
I trade with Expert Denise Mitchell, a FINRA regulated broker. Met her sometime early last year at a startup funding event. She had some interesting things to say about the state of algorithmic trading today, very obviously, it's reflecting on my portfolio
Successful people don't become that way overnight. What most people see as a glance of wealth, a great career, and purpose is the result of hard work and hustle over time. I pray that anyone who is reading this will be successful in life
I’m celebrating a $30k stock portfolio today. I started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me
The Retail investor is not getting the best execution on the market .. In My Opinion the Sec is aware of the current status of what’s happening . Everything is Sequential, until the green light is given …Godspeed to all you apes.
I hate that the market can be manipulated by a group of people. they go about kill small investors but i am of the opinion of being unemotional towards the market, don’t FUD or FOMO no matter what, have in mind that the market will always present an opportunity so be patient.
@@IrenaDolinsek I always want to be trading something at my early stages of coming into the market which made me FOMO resulting to me loosing a lot of money, at a point i had to use a manager in the person of KATHLEEN YANELLI CAROLE who grew my $115k capital to $175K in 3 months.
I believe a video on "How to profit from the present market" will be more effective because, given the way the market is moving, we'll likely retain our investments for longer than 2030 before making a profit. After all, I've heard of people who have made up to $250K in a matter of months and I'd like to know how.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
Elise Marie Terry is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.
For passive investments, tax deductions for real estate is limited to $25k per year in aggregate. The only way to fully capture all the depreciation and deductions is if the real property is an active investment with compliance to IRS rules and requirements.
What Grant presented is a general example, not to be taken literally, especially with the numbers he presented. His main point is to leverage your earned income in to assets that give you passive income and reduce your tax liability as allowed by law. You need to consult w/ your tax advisor to make sure this can work for you.
Thanks Grant. You explain this very well. I’ve been doing this for 35 years now and have become extremely blessed because of it. I hope more and more people will take note and put this advice into action.
You need to make a video on how to make 6 figures monthly because I have read about investors making up to $650,000 within 5 months and I really want to know how to outperform the market and make a significant profit
Best thing is to carry out extensive research and be on top of current events. Know how current events can alter share prices and apply logic over your emotions. This is what worked for me. Best of luck
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
Glad I'm not the only one who caught that . And then 2 million into 200 millions . He should have laid off the last line he put up his nose before making this video .
It's strange how people talk about all the profits, they've been making through trading of bitcoin, while am here not making any profit at all. Please can Someone put me through on the right path or at least tell me what I'm doing wrong?
@@aguerozeus9705 No matter how much preparation you put into your trades, what matters is your ability as a trader to use a wide variety of strategies in a disciplined manner. Trading is hard work, to be safe you should probably get an expert to help with more profitable trades.
Just a heads up, from a tax accountant. Depreciation on real estate is depreciated over 27 1/2 years or 39 years (depending on the type of property). You could do a cost segregation study and reclass some of that property as shorter term property and use accelerated depreciation on some of that property but there is no way that you could deduct half of the cost in year one.
Not only that, depreciation is just deferring that expense. If you sell the property, that depreciation is "recaptured" Although, heirs to an estate receive a stepped up basis and therefore, I believe, don't ever have to pay the taxes right, Chris?
I asked my accountant about this and she said the same thing. So where does Grant Cardone get this? It’s obvious he has done well in RE. Why would he be so off?
@Jerry Brown many reasons, like these RUclips videos are made to get views, not actually teach you anything. He makes more money by selling his image, RUclips, etc. Why would a successful investor spend time teaching you for free on RUclips? Because he makes more money from that, and realizes his other investments are very risky, in comparison to RUclips
The Depreciation has to be spread out over a 30 yr. period. Per the IRS. It’s actually 27 yrs. That $2.4 million he speaks of can only write off an average Depreciation of $80k year.
Agreed. He said $4.8mil property can depreciate 2.4m in first year. So he is referring to the 50% bonus depreciation, BUT bonus depreciation does not apply for REAL property !
@@kennethokin yes bonus depreciation can be taken when you do a cost segregation analysis but that analysis will show that you can depreciation the appliances, etc at 50%, but not the bricks, the framing, the roof, etc. grant is saying all 4.8mil gets 50% depreciation in the very first year
You can't question what he's been doing past and present. Your tax preparer works for you so if their job is to reduce you tax bill regardless as to how it's done. As long as it's legal it shouldn't matter
I guess we figured out what Grant's REAL money-making business is then... that's right, it's YOU... and your insatiable desire for get-rich-quick seminars. I think if you look at the old Tom Vu seminar videos back in the 90s close enough, you can see a young Grant Cardone taking notes in the back row, lol. Don't get me wrong though, people HAVE made countless fortunes in real estate over the last 30 years, but didn't need to take a seminar to teach that. Although maybe that's just what's good for society in general... for the GDP. Get people invested, to get people to then followup and do work. Otherwise, without this attitude of wealth/property accumulation, I guess we'd just be a society of hedonistic savages. This way at least, the "hard working", disciplined people will acquire all the property from the lazy and then we can weed out all the unproductive people in society? Hey, if that's the big plan, then I guess I'm all for it. If so, keep on doing your thing Grant; you truly are doing God's work, lol. But does this jive with the great reset? Or is it even supposed to? The answer to all this, and more! When we return from this short commercial break...
Taking a loan against your property in theory sounds good but when my mom tried to get a loan on a apartment building in New York the banks would only lend money if we showed them that we were going to reinvested in some type of improvements in said building .. it's not that easy to refinance commercial property And if they do approve a loan (For improvement work) the LTV would be probably no more than 30%!
@@Jonny17m Don't think small. Buying RE stimulates the economy. A RE agent, Lawyer, contractor, Home depot, Insurance, utilities, etc. I can go on. More expensive real estate requires employees(security, cooks, maintenance, etc). Then all these entities pay taxes. This is how they power the economy. America would be the 4th world if people took no risks.
@@alb12345672 Yeah trickle down effect but it doesn't work.. Just look at the US people are basically living on the streets while people are buying houses for hundreds of millions which don't provide any benefit. The US has become like France under the ancient regime.. Rich people their think they are above the law and act if they are monarchs absolutely crazy place. Every person I know living in the US wants to leave.
As an MBA Finance, CFA charter holder with a law degree too (that's right all 3) he's right. When he stretched to future years there is a timing and years flaw a bit here in a technical sense (or let's say assumptions are somewhat unlikely) But he's got the concept correct and for back of the napkin for everyone we should be glad he's sharing this. I'm also Italian so Love Cardone maybe I'll take a trip and go meet him for 3 minutes show my respect and thank him. Baciamo le mani e viva l'america.
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
He's right...I've been running a business for 10 years you know how much I claim? 30 grand earned income. I claim my 2 kids on my taxes and it's a wash .. I'm making way more than 30 grand but that's all they see. I hope to claim zero someday soon! Play the game folks!
Maybe he cleared it up in the end (I watched 6 min) but you can not offset ordinary income with the passive losses (depreciation) from real estate as he mentions… passive losses can only offset passive income. Real estate guys get around this by having a tax designation of a “real estate professional”, which most can get. That allows them to offset ordinary income with those losses
There’s a problem here, as I come from a family who does real estate/rental property. You CANNOT deduct 100% of depreciation in the present year! This is annualized over 27.5 years typically so you have to divide the number by 27 to get your actual depreciation. Also of note, this is recaptured and taxed as income upon sale of the property. I really hope that many of you get better and more informed advice before you do make any large scale financial decisions. The idea in principle is good, but the way it is presented here is misleading and not correct as any reputable CPA will tell you.
You aren’t aware of the accelerated depreciation deduction rules. It’s a specialized and complex concept. Essentially, it pulls parts of the building out of the 27.5 years and puts the into different depreciation categories that depreciate much quicker. Don’t be so critical, sometimes there are things others know that you don’t. What he’s saying is 100% true and doable.
This would be a great idea if we didn't have to pay tax on our pay until the end of year. Otherwise, you are taxed up front and can claim credits on your tax return. However, that 2M would actually be automatically reduced to 1M before it could be reinvested into real property. In Canada, working a 9-5 job, this doesn't work - unless I am missing something but I don't think I am.
Create a company under your name. Go to your boss, quit your job, and let him rehire your one man company to do the same 9-5 except now bill him every 2 weeks. and voila.
I am in agreement with @moumtazkaoukji368. The tax codes do not usually benefit employees. Freelancers and business owners can implement more tax strategies.
I am thinking the same thing. He is advising this for high income people who get paid in payments that are not subjected to pay roll taxes. 9-5 people can still do it, but you need to save enough for down payment or do zero down real estate,(as some books claim it). I am skeptical about taking 50% depreciation in 1 yr.
The problem with this is that for you to be able to deduct depreciation from real estate investments from your earned income, you have to meet certain tests by the IRS, specifically to be considered a real-estate professional you need. Perform more than 50% of services in real property trades or businesses (“50% test”), and Perform more than 750 hours of service in real property trades or businesses (“750 hours test”), and Materially participate in each rental activity (“material participation test”). It's going to be difficult for most professionals who get income from sources other then real-estate to meet the criteria, especially the 50% test.
Grant my man..... I am just impressed that you were smooth talking them so good they missed at 2:07 where you took $1,000,000 minus $200,000, then minus another $200,000 and showed them it was $800,000 LOL 4k comments later I do not see anyone mentioning this $200k mistake LOL
Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
You see in trading cryptocurrency, one requires more than just a primary knowledge of crypto. It is best to trade with an expert to avoid unnecessary losses. It's advisable to have a professional trader/broker who is an expert in the field to help you manage your account.
For the regular people out there like me. My father taught my brothers and I this process before YT and the gurus. We have gone our separate ways but have maintained building our rental portfolios and it isn't for million dollar earners. We each own over 30 properties. We never bought our own home in our name. Why would we? It was always as a business so we could expense out everything and get depreciation. You depreciate the property over 27.5 years. In the example, your household earns a high income as well as investment and real estate income. If your tax liability is 100k per year, you build your portfolio to 10 properties with depreciation worth 275,000 or 10k depreciation per year each. You would owe zero taxes at the end of the year.
For salary earners having a passive source of income is the best thing you could have , because aside the the fact that it isn’t always enough you could lose your job any day at any time , have something to fall back to is crucial , for me it is trading the Forex and crypto market and no I didn’t have that much knowledge to begin to earn that’s why I said passive income, I leave the profit making to the pro like my Advisor 'Camille Alicia Garcia' , who has been doing a wonderful job
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor
Not at all, having monitored edge my portfolio performance which has made a jaw dropping $483k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market. I must say it's the boldest decision I've taken since recently.
@@hunter-bourke21 I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
My financial advisor, '''Camille Alicia Garcia, is a highly qualified and experienced professional in the financial market. She possesses a broad understanding of portfolio diversification and is recognized as an expert in this field.
After the market's Significant gains in the last few years after the worst pandemic , officially entered a new bear market earlier this year, but .My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US and for sure my diversification process but still on fence about the market future
So, when you invest "most of your earnings" to avoid paying taxes, that means you will live with minimum expenditure just like any low income earner! This way, you are hardening your life and building fortune for your next generation, and your agent, and manager will live a better life than you! What an advice!!
Nice one .This is a fantastic breakdown of the steps you have to take to build true wealth. I feel exceptionally lucky I started investing in my early 30s and consistently compounded my income via assets to create more cash flow. I grew to a 7 figure mark well-diversified portfolio having exposure to different prolific investments. Passive income is mandatory for building long term wealth
@Poppy Pearce I invest across the top markets but not by myself though. i follow the guidelines of Larry Kent Nick. you might have heard of him.. I can correctly say he's worth his salt as a investment advisor as his diversification skills are top notch, I say this because i see that in him results as my portfolio grows by averages of 20 to 3O% on a monthly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what he place and not just on some particular industries of my choosing
IRS rules that the only person who can offset their earned income with accelerated depreciation from real estate is a real estate professional. To qualify, people need 750 hours per year doing real estate related activities, and the hours they spend on real estate have to be more than those they spend on other trades or professions. So this alone would exclude most artists or athletes he's talking about. Did you follow Grant's methodology and how was your experience?
Biggest thing is WHEN you come across enough money to ACTUALLY work with. Don’t buy ANYTHING cool in the beginning. No Lambo. No diamonds. For at least the first couple years of getting money. Just property and equipment 💯💯💯
I know am not suppose to post this here but the Crypto market is gradually moving towards something big and the price surge over the past few months is just the beginning of greater things to come. Trade well on demo but I think the real market is a bit difficult. You got any advice for someone that is fresh to crypto, Don't know where to start..
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
You see in trading cryptocurrency, one requires more than just a primary knowledge of crypto. It is best to trade with an expert to avoid unnecessary losses. It's advisable to have a professional trader/broker who is an expert in the field to help you manage your account.
I am into Real Estate Business, but I took the decision to invest in the Crypto market and I have been getting good returns on my investments. The market is also an effective way to grow wealth.
Thanks Grant, I am an accountant. Your example on the white board is simple to understand, BUT please help me understand, what kind of real estate can you depreciate at 50% in the first year? That’s question 1. Question 2: depreciation reduces book value…. So if you can depreciate it by 50% in the first year, when you sell that real estate, you’ll eventually have to show that profit and pay tax on it…. Or do you propose to hold and keep buying up more real estate with the earnings until one day what happens? You have bunch of depreciated assets that you can’t sell bc if you do, you’ll have to pay taxes on all the gains? Or do you begin to rent it out….? Or so you have rental income now with nothing to depreciate, etc. is that the strategy?
@@divyajain4689And such a loan would have an interest higher than the appreciating percentage of the asset. What if the asset starts depreciating? You'll be pushed ro sell to cover the loan and after the sale you also pay income tax
1) Cost segregation study can pull depreciation forward 2) 1031 exchange to another real estate investment. When you die, the cost basis gets reset to the current market value and erases those capital gains for your heirs.
10:00 Borrow money out of the future, after they make their money for the year, they take that money, reinvest it in another business or real property, pay themselves 0 and use the depreciation of the talent (earned income) to borrow / transfer taxed credit for the next year and make money from appreciating assets
I am finally understanding how to utilize all the tricks the rich use to grow their money and all I can say is I'm excited to get started. Thank you so much for spreading the knowledge to us common folk.
Market declines, soaring inflation, a significant increase in interest rates by the Fed, and rising Treasury yields all point to additional losses for portfolios this quarter. How can I profit from the present market turbulence? I'm still debating whether to sell my $125,000 ETF/Growth Stock portfolio.
Concentrate on two main objectives. First, keep yourself safe by knowing when to sell stocks in order to limit losses and maximize gains. Second, get ready to benefit from market changes. I advise consulting a CFP or other professional for advice.
my 401k growth has been stagnant since the 2019. I wouldn't mind consulting the advisor who guides you, I really want to grow my retirement fund since I could retire in 3 years.
@Zahair O'Brian Thanks, I just googled her and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
So if you own a business, you can pay $0 if your business costs are equal to or greater than your income. So basically, invest your business income into more assets to your business aka business costs that help grow your business and you'll pay no taxes and grow a business or assets that can help you get debt to growth the business even more.
*Reading about people grabbing multi-figures monthly as income in investment even in this crazy days in the market,any pointers on how to make substantial progress in earnings? would be appreciated*
Grabbing multi-figures in Crypto is possible with the right approach...no doubt Crypto is volatile which we've seen but committed investors are making passive income weekly and more grabbing multi-figures
@@dianaaudibert5745 you don't have to get scared if you plan on a long term holding but if you're hoping to make passive income with coins you've got in your wallet, a professional and genuine broker is advised to manage your account
@@dianaaudibert5745 you can connect Debbie, I've been investing and trading my cryptocurrencies with her signals and has been nothing short of impressive return of investment
Cost segregation. Just did it on a 3.7M buy last year. Took over a $880,000 lose and carried $400k of loses forward. He simplifies it, but it’s actually simpler than how he explains it.
I don't get this...because what he's leaving out is that if your earned income is zero you cant get financed to buy any property (he's figuring that 1.6 million as 30% downpayment) because in doing this you are saying you actually made nothing and everything went to expenses, and you had no income. Therefore you cant borrow money because on paper you are showing you have no income to repay the loan. How can you write off the real estate purchases as an expense if they are for investment purposes?
@@drewskeez1156 depreciation is an expense that does not come out of pocket. Banks don’t use depreciation to calculate your income. Plus. Banks really only look at the property to give loans. If the property covers all expenses and then some they will lend to anyone. Only thing they really look at is your credit score. This holds true as long as its not owner occupied
Please explain further. You can not depreciate your real estate property by 50% in 1 year. That only applies to equipment. In fact, the value of the land can not be depreciated at all. For your 3.7 million dollar commercial property, it has to be depreciated over 39 years, which would be a max of $94, 871 per year, and would actually be a little less due to the land value.
@@jaquevius cost basis 3.7M. 15% went to land and 85% of value to building. It’s accelerated depreciation and you 100% can. Google cost segregation. Literally just did it. All your doing is accelerating the depreciation using a cost seg study which allocates what is allowed and what is not. This allows you, by tax law, to take bonus depreciation (faster) than you normally would.
@@JamesBonadies we are saying the same thing I believe. I just didn’t look at your numbers, and assumed you were agreeing that you could depreciate the entire purchase by 50% like this youtuber stated, which is false. Now that I looked at your numbers, it falls in line with what I was saying. You can ONLY rapidly depreciate upfitting (walls, wiring, equipment etc), but NOT the building. For most buildings ~1|3 of the total expense/purchase price falls into this category, not the entire purchase. Therefore ~67% (or whatever the value of the building itself is minus the segregated assets and minus the land value) MUST be depreciated over 39 years, and you can not rapidly depreciate it. He was saying that you can buy a 4.8 million dollar property and depreciate 2.4 million to reduce your taxable income, and then carry over an extra into future years. Your numbers fall in line with this as you are saying you depreciated just the allowed segregated PORTION which is typically ~1|3. This guy is inflating this however. The other point, is that taking the accelerated depreciation doesn’t always create an advantage, unless you are going to flip the property in a short amount of time. Traditionally, those same upfits that were segregated out in your analysis, are depreciated at 5,7,15 years depending on exactly what it is. It has never required the 39 year timeline. For instance, I have a medical building that I will be keeping for 20+ years. It worked out in my advantage to depreciate those segregated expenses over the more traditional 5,7,15 years (the building still has to be depreciated over 39 years) rather than paying zero taxes in the first couple of years, and then not having the depreciation to offset after that, since I’m in the highest tax bracket. Now if you are either going to flip the property in 2-3 years, it makes perfect sense.
0:33 Save your time with this flook! Get a good tax attorney, get a good accountant, and get a good tax provider. Build a team spend some money, you can't know everything. Get professional qualified people to help you with this trust me. If you making over 200k a year that's what you gotta do.
Theoretically, since you are investing in "property" for tax purposes, and borrowing against it in the future, as it appreciates, you don't have to use real estate as your property vehicle. You could invest in Bitcoin, which appreciates much, much faster than real estate, since it is regulated as "property" according to the United States Tax Code
when Grant said you can borrow 40m of tax-free spending cash from the bank against 100m of your assets, how is that tax-free? Wouldn't you have to pay back the 40m loan to the bank each month maybe even with some small interest on top? So if you have to pay back 40m+, then where is that 40m repayment coming from? From your ongoing passive income? If so, wouldn't each monthly repayment be taxed as personal income? Or is Grant saying that he will default on the 40m loan and let the bank seize 40m worth of assets, leaving him with 60m worth of assets and 40m spending cash tax-free?
@@NoOne-jy6mc You pay it off from your non-earned income, which is taxed at a lower rate than earned income. It's tax minimization. You don't get rid of taxes completely. My old professor, Tom Wheelright, does this and he has a RUclips channel now. As far as I know, nobody gets to absolutely 0. Although I do see some people get awfully close. Depends on how serious you are about short changing society lol
Do you provide revive that helps to make a decision on where to buy the property and how much to spend , in other words I need initial help to start my baby steps in to doing this I tried to use real estate agents but they don’t have a clue
no doubt, b/c "buying" it would require your earned income.. "investing" mean he'd use his passive income. He's literally taken that curse word called earned income out of his vocabulary, lol
Yeah, All passive income ideas work as long as you put the work in. I focus more on crypto/real estate with the assistance of my financial consultant Deborah Q Sharon.
Great video 👍 very educational and inspiring. I escaped from the Yugoslavian war as a child into Scandinavia without anybody to teach me how to use my money smart. I worked my ass off as a kid and in my 20s but learned that the school is the way to get a good job. I completed my masters in IT and worked for 7 years as a project manager, but I learned that corporate life is not for me. Depending on somebody else for a pay raise, stressing for promotion and clap on the shoulder did not motivate me at all. Now I have started with one million of banks money, to invest in properties and I am looking forward where I have enough “passive income” to retire and enjoy life.🤙
4.8m in real estate does not provide you with 2.4m in depreciation at least not on the first year. Real estate depreciates at either 27.5 years or 39 years. Say you bought a commercial building for 4.8m, it will take you 39 years to fully depreciate it. By the way, land is not depreciable. Your 4.8m property will allow you to depreciate either $174,545 or $123,077
Another way to look at is owning a lot of real estate is a big risk and a pain in the ass with tenants and such. If you really got it going you can't afford the time it takes trying to avoid paying all the taxes and your whole life becomes a hell of a lot more complicated removing your free time to do what you do best. The last thing I want is 100 million in real estate. Gordon Gecko said it best, "Do you want to just get by on a 400,000 a year working stiff income, or do you want to be a player, I'm talking liquid, 50-100 million dollars". The key word is LIQUID. Real Estate is about as liquid as a block of cement.
Our issue stems from the prevalent belief held by the majority that "having a good job is all it takes to become wealthy." Many people are unaware that these billionaires are using a different set of rules when conducting business.
You live and learn. I blew two funded $50K accounts with Karen L Nancy mentorship program. It's really making me self reflect and be able to see my trading mistakes even more. I got caught up in revenge trading and not walking away when I should have.
i am 17 i am very very passionate to start self development and personal finance business . how do i start . what should i do and know to start please reply.....
First Just Stay Out of Trouble No Drugs, No Entertainment, No Waste of Time and Try to Find Your Passion As Soon as You can And Start Reading some Books , Get Your Routine Right, Follow Right People on Social Media ! Learn a Skill as Soon as You Can !
Hey pal. Start with developing a trulu valuable skill, one that pays extremely well and that you're good at. Become a master in that skill. A true master. Then... When you start earning money, IMMEDIATELY turn it into an asset by investing it into your own business, stocks (other people's businesses) or real estate. Then continue to reinvest wisely and eventually borrow against those assets as Grant said.
Its not an expense, its an investment to pay tax. And sometimes somebody else, than you, will get the benefits of that money. And thats ok. Helping people is the way to go❤️
I understand all of this. This is an extreme case. You can't go all in in years 1, 2, or 3 because you need money to cover loan payments if the properties are not rented.
@@jamesdean5886 Passive losses can be netted against passive gains and up to $3k of next passive losses can be netted against ordinary income per year and will carry forward to future years.
@@jeremyparvinrealestateinve7087 Bingo! Passive losses can be netted against passive gains NOT ordinary income ($3k is peanuts) which is the opposite of Gordon says at 3:05 in the video "$2.4 million of depreciation which reduces this tax bill..to negative $800,000" IT DOES NOT! YOU WILL STILL PAY TAX ON $1.6 MILLION OF ORDINARY INCOME IN HIS EXAMPLE. This video is totally misleading.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
Since the outbreak of 2020, which had a significant impact on the market, I've been running all of my investment decisions through an investment coach because their entire philosophy is centered around using a high-profit oriented blueprint while simultaneously going long and short, as well as reducing risk exposure as a hedge against inevitable downtrends. Underperforming is almost impossible when combined with their access to strange data and analysis.
pls how can I reach this expert, there's bloodbath on my porfolio and I need someone to help me with it
'Sharon Ann Meny' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Thanks, i did a quick web search and i found Sharon, i hope she responds to my mail.
The problem with huge debt, massive leverage, and playing in the governments tax sandbox is that with one stroke of the pen the government can change the tax code and wipe out your entire fortune. Super high risk with a potential super high reward. Just know what you are getting into.
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
Nicole Anastasia Plumlee can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
- This is exactly how i wish to get my finances coordinated ahead of retirement. Can I get access to your advisor?
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
The biggest thing I learned from this video was 50% of investing is buying good companies at good prices and the other 50% is controlling your emotions when . market is moody.I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.
To achieve greatness, you need to start working with a Financial Advisor. Investing remains the smartest way to prepare for the future.Have been working with ROCH DUNGCA-SCHREIBER for 8years and I'm extremely pleased with the good returns. The good news is, it's never too late to start investing.
Credits to ROCH DUNGCA-SCHREIBER, she saw me through the process. You can glance her name up on your google and verify her yourself. she has years of financial market experience...
You wont be twice young in your life… go for vacation when your 60ty or buy a ferrari as a joke then… what a bolox
*EVERY FAMILY HAS SOMEONE WHO BREAKS THE CHAIN OF POVERTY IN THAT FAMILY,I PRAY YOU BE THE ONE, KEEP INVESTING! AND REINVESTING!! UNTILL IT BECOMES A CULTURE!!!*
Starting early is the best way of getting ahead to build wealth,investing remains the priority. Forex trading has plenty of opportunities to earn a decent payout,with the right skills and proper understanding of how the market works
I totally agree with you,Forex trading is the most profitable venture I ever invested in,I reached my goal of $500k yearly trade earnings, setting realistic goals is an essential part of trading
Talking about being successful! I know am blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Blossom Jefferson
As a single mom I now make $15,000 monthly all thanks to expert Mrs Blossom Jefferson
Hello I'm new to forex and I have been making huge loses but recently I see a lot of people earning from it,please can someone please tell me what is going wrong
These frequent tax code changes are disrupting my long-term investment strategies. Are there ways to structure my investments to be more resilient to potential tax code modifications?
Tax code changes taught me to you can build resilience into my portfolio. Diversification is key! My set manager helped me spread my investments across different asset classes like stocks, bonds, and real estate so that a positive tax code cha age here can help minimize the impact of aa negative tax code change there adjustments.
I agree. Based on personal experience working with a financial manager, I currently have ($2million) in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
That's impressive ! I could really use the expertise of one of these advisors. Any chance you could recommend one?
Actually its a Lady. Yes my go to person is a ‘Sharon Marissa Wolfe '. So easy and compassionate Lady. You should take a look at her work.
I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
You are right.!
That is why I had to start forex trading 2months ago and I now am making benefits from it..
My first investment was with Shanita Creswell, it gave me profit of over $80,000 Us dollar...
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
A common mistake we newbies make is venturing into the market without help and legit guidance
I need to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K from my cash savings.
diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor to help you invest in tax advantaged accounts.
Low six-figure income, no debt, nearing mortgage payoff ($400k property), age 43. Invested over 15x annual salary, amazed by focus on scraping by in retirement. Aim for surplus. My goal: retire at 55 with $5M. Unless the markets crash, these two points should align. I'm quite lucky to have started working with a financial advisor early.
This is mind blowing! As a young adult inheriting about $500k and new to stock investing, I'd greatly appreciate it if you could direct me to your advisor. I can't afford to make costly mistakes.
*Victoria Louisa Saylor* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Instead of thinking about becoming a millionaire we should be teaching people fiscal responsibility. Live below your means, invest for retirement, have 3-6 month emergency fund, save for your children’s college, pay off your mortgage (unless interest if less than 4%). Only when you have met these requirements then take risks in the stock market.
Fiscal responsibility is crucial, but it's also important to seize opportunities for financial growth. While building savings, investing for retirement, and maintaining an emergency fund are essential, the stock market, when approached with caution and risk management, can help build wealth. It's about balancing caution with taking calculated risks to grow financially, with diversification playing a key role
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
*Julianne Iwersen-Niemann* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
I’m making outstanding progress with my money decisions. I put in 20k into various assets last year and flipped into six figures aside from taxes within a few months and still going. I’ve always been an advocate of investing because it has been rather rewarding. I hope to attain financial freedom soon. One more thing, great content brother.
I have some money saved from day job. I have no idea where or how to invest. How are you doing it, Leon?
It’s not rocket science. As I said previously, I got into stocks, index funds, and REITs, myself but wasn't getting the results I wanted the first couple of months. Got tired of losing and decided to seek mentorship from Jonas Herman, a certified fiduciary who helps oversee my investments.
@Lfgyf Can you introduce me to Jonas? I'd love to learn more about his service.
Thanks for the feedback. I just messaged him and I hope he replies.
I got on one of his programs too and gained a lot. Although I feel his commissions are quite on the high side for me, overall, his service is applaudable.
As recession fears mount on Wall Street and inflation remains well above the Fed's 2% target, some of the top commentators in markets, business, and economics have been sounding off on just how bad they think the next downturn might be - and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.
How old are you?
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
I've come across this name before, is he really reliable?
I started working with Alex back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market??
Research stocks with yields that exceed the market and stocks that, at the very least, follow the long-term market trend. However, you should get guidance from a financial advisor if you want to create a successful long-term plan
I agree, I've been in constant touch with an Investment consultant for approximately 17 months. These days, it's really easy to buy into trending stocks, but the task is determining when to sell or hold. That's where my advisor comes in, to help me with entry and exit points , I've accrued over $337k from an initially stagnant reserve of $148K all within 18 months...
I really need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor??
Google Sonya Lee Mitchell and do your own research. She has portfolio management down to a science
I ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
Love the math at 2min. 1mil - 200k - 200k = 800k
good call l missed this when l watched
😂😂 I stopped right when I seen that😂
Was about to type that. It should have been 600k left.
🤣🤣🤣
Who cares buddy?
As much as this is achievable, this video also proves how much we need concrete understanding of a particular sector as investors because playing the market blindly or solely of technical is a big risk.
It's possible to statistically measure whether some decisions are wise. In the real world, it’s a lot more harder. We prefer faster gains or simple stories, which can be easily manipulated in other for you to like what you hear but often devilishly misleading. Right now there is little volatility which makes prediction harder & losing capital easier.
@Jon Yes you’re right, there’s more to the market than technicals which is why analysis are best made by or under the supervision of an expert. I’ve had significant increase following the help of a professional.
@@Gregfreemann Forehand I know the powers of coaches too. Coming from someone who's witnessed consecutive ups and downs, debt, getting ripped off trading scams, get rich quick scheme, ponzi. Literal bankruptcy, you name it, Having a coach made it a lot more easier. I know how discipline is essential to grow. Matter of fact having received advice from my coach, I started my pod, a little ytube, and passively earn and hold a $293k ptf with Yvonne Annette Lively. So yes guys, life coaches are indeed important.
@@maryalchester Do you mind if I asked if she's with Morgan Stanley? Talking bout Yvonne Annette Lively
@@maryalchester Looked her up a while back. Haven't made a move yet but her records are detailed. I think it’s nuts averaging a 15% mroi considering the economic decline.
Major flaws in this strategy:
1) Assumes capital markets are robust and that debt is available whenever you need it, at rates that make the deal pencil
2) Accelerated depreciation is a temporary feature in the tax system that will gradually phase out, starting in 2023
3) Most cost segregation studies will yield about 30% of total value that can be depreciated in year one, not 50%
4) You must pay tax on "depreciation recapture" ie, all that "free money" will eventually be taxed
5) Other tax avoidance strategies to avoid this tax in #4 can be changed in congress, and 10-31ing into new deals often makes people choose poor properties
6) Using 70-80% leverage means you are more exposed to market fluctuation risks, meaning that a small dip in property income can lead you into default
7) There just too many amateur "real estate investors" that have bid up valuations to the point where many deals have zero/little yield as buyers looking to "do their real estate hustle" have bid up properties to such a point that class-C multifamily in South Carolina trades at a 6% cap rate.
Anyways, Grant knows this all, but this is for you folks that don't know, and think they have just stumbled upon the "one weird trick the rich use to stay wealthy".
It's not so easy in other words, and the amateurs, when they fail, will have their assets flow to those who have the liquidity.
If we are being truthful to ourselves, just like the rich, taxes can be a big pain. Income tax, value added tax, property tax, etc. Paying taxes is good, but we could also create our own tax havens. I personally put my money mostly in the stock market, since its appreciation is not taxable, and then when I sell, I find ways to make the income non-deductible in taxes. I 'm currently sitting on more than $327k of cash, and I'm definitely throwing it in the market. Just thinking of how to not lose it all, since the market is red.
It upsets me how simple things like this are not taught in school, and then people complain about taxing the rich everyday, as though the rich should pay for their own ignorance. I have been doing the same thing myself, using the market to shield myself from the market. But I hate making mundane decisions, so I just invest through an advisor, making good profits, avoiding taxes, while doing very little work.
@Roland Ray Let us know how it goes. Thanks
Just some ideas because I do not know your situation: If you set up or have a profitable small business and are a high income earner, you can put about $66,000 into a SOLO 401(K) and get a tax deduction for it, or double that if you are married. You can also elect to set up a SOLO ROTH 401(k) and put up to $66,000 in there without any income limitations like you get in a regular ROTH IRA. The downsides of this are that you have to wait until 'retirement age' at 59 and a half, but they are good for lowering taxes in the current year and creating tax balance in retirement. The real estate approach that Cardone mentioned is amazing, especially if you have an ultra-high income. You get instant passive income, and a growing asset with tax breaks due to depreciation! Assuming you like to put your money into the stock market, you can also dollar cost average into the market in a non-retirement account, and as the portfolio grows larger over time, use a portfolio line of credit or securities-based line of credit to use a portion of your portfolio as collateral against a lower interest loan. That is a non-taxible transaction, and becomes more and more feasible as your portfolio grows over time. Personally, I have been focusing on undervalued dividend stocks this year. Another thing is to consider having a larger than normal cash position in your portfolio, like between 10 -20%, but still under the SIPC insurance limits of course. None of this is financial advice just ideas, but feel free to reach out if you want to brainstorm.
I cant understand why we gotta fill out those tax forms. That's like a 13 hour task. Wouldn't it he easier if the IRS just took out the money we owe out of our paychecks. I mean they get our actual tax money, isnt that what matters.
Weren't You Listening To Grant?....Why Put That Type Of Money Into Stocks When There Is No Real Security Behind Stocks (Let's Be Honest)....Having Some Stocks In Your Portfolio Is Good For Diversification, However, Personally, I Would Put About 10-15% Of That Money Into Crypto And The Rest Into Real Estate....
Real Estate, that’s the first step. Read Tax Free Wealth, that’s a great book to start with.
If you paid any attention to the video, he said get money first then invest. #roomtempiq
Man I see your comments everywhere 😅
@@elmeraraniva9370 dude is literally on social media 24/7.
Thank you Casey, I was looking for a good Taxes book where they teach or talk about all these strategies GC is teaching on the video. What other Tax books do you recommend?
Yes, Tax Free Wealth is packed with gold nuggets of info. It parallels what Grant is saying. I’m on chap 20 of the book. Keep teaching Grant !!! Love it !!
The FED has lost it and the sad fact is, it's pretty obvious we are headed for hyperinflation. I think stores better have tight security because when people can't afford to feed their families, things might get ugly
Might?.. have you been grocery shopping lately? Things are already ugly. The best bet for anyone with a brain is to get in on a passive income stream while you still can, doesn't matter which one it is just get on it and stay committed.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don't know who agrees with me but either way I recommend either real estate or crypto and stocks.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don't know who agrees with me but either way I recommend either real estate or crypto and stocks.
Crypto is bringing a different revolution in the world economy. People who are optimistic investors earn consistently.... Others will just sit and watch!.
Access to a good information is what the investors needs to progress financially and in life. Here is a good one and I'm grateful.
Great video. I watch several youtube videos on how to trade in the market but haven't made any headstart because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
The best strategy to use in trading is to trade with a professional who understands the market quite well, that way maximum profit is guaranteed, I'll highly recommend Katrina susan, she is my current trader and her strategies are working
I'm amazed you mentioned katrina susan, she is the best and her strategies works like magic. I've been making over 80% of my investment weekly since I started investing with her trading service
This is not the first time i am hearing of Katrina susan and her exploits, how she handles investments and generates good profits, she has really made a good name for her self, but i have no idea how to reach her
You can reach her through TELE
GRAM
Note to add, if you reduce your personal tax bill to zero by buying properties or any other cash flowing asset you will pay taxes just in different forms i.e sales taxes, property tax, business payroll tax etc. But he is spot on about reducing your personal federal taxes.
True.
W2/1099 income is taxed ar the highest rates. I'm currently investing into a lot of dividend stocks.
My parents invested heavily into real estate.
They earned too much money and banked credits for close to 20 years.
Meaning now with multi million dollar net worth. They earn over six figures in passive income. They paid almost nothing in taxes the past couple years. They even received/qualified for the stimulus checks lol.
Their taxable income last year was under 40k. Property taxes taxes are their highest expense now.
@@I_like_turtles_67 taxation mathematics
AND you'll eventually have to recapture what you "avoided". I wrote down 2 million this year via an aircraft purchase leveraging bonus depreciation (section 179). It's nice, but it's temporary. The Fed eventually gets their money.
@@sleepyhorses6100 I’m doing my best to understand all that Grant explained, I may have to watch the video a few more times, but I’ve a question to your point, so to continue not paying the taxes or receiving the “tax credit” is that where you continue reinvesting?, so in other words repeating the game?
@@miguelion1007 yeah u repeat the game...own nothing but control every thing
I did this 2006 (UK Scotland), in a much smaller scale and it set up then when I was thirties! After watching this video and a few more of Grant's videos it has given me the inspiration to do it all again; on a bigger scale, for fun, my future and my family. Thank you for re-igniting the fire! Graham
Do you invest in residential property in the UK? If so how have you dealt with no longer being able to properly claim mortgage interest as an expense? Cheers.
@@sidesauce so landlords get 20% off their mortgage for the property the tenant is renting?
IRS tax code allows investors to depreciate the improvements (buildings, etc.) related to real estate. However, if you sell your real estate investment after 20 years and the property has increased in value, the IRS wants their money back and will assess you at a 25% tax rate on the amount you have previously deducted.
But you don't sell, if you don't owe it and it gives you income, you don't sell and it be income forever
if you sell the property and buy another one , the tax is 0
1031 exchange
@@pardonndlovu1220 If you don't sell then after the property is completely depreciated you will have no deductions. So it is wise to sell and buy another property to reset the depreciation clock.
Reinvest.
I do not make millions but the profits I make in my business, I buy stuff for work.
People were mad at Amazon not paying taxes. It's because they reinvested into their business.
Thats the easy way to do.. other way is to buy art, thats tax free too.
Having harbored financial concerns throughout my entire adulthood, it's intriguing to watch this video and recognize the potential for significant achievements with proper goal-setting. Experiencing the freedom of not being consumed by financial worries that haunted me for numerous years is genuinely liberating. I believe this is the outcome of consistently putting in diligent effort for the future.
Great! Keen to benefit from seasoned advisors amid current challenges. Can you share your advisor's name for supervision?
Love getting tax advice from someone who hasn’t mastered subtraction yet.
Ha! You may have missed the principles...
Or just be a broke loser and post hateful comments.. Oh wait, you’re already living that life.
Grant is confusing income tax and capital gains. Does not offset.
@@JP-ne7xj no he isn’t, you’re missing what he’s saying entirely because you want to be critical. Capital gains are paid when you sell real estate unless you 10-31 into like real estate.
Einstein was bad at basic math. Concept is more important
Legends to embrace if you want to get rich investing Cardone and Gary Joe Wilde.
Graham too. Don't know why Gary Joe Wilde chose not to own a video channel here like other pros. He is older and even more advanced.
@mackenzie fventes Used to see Chris and Briana vids promoting him. It's been a while though. Learned he is a mentor to quite a good number of reputable pros here.
$2,000,000 -$1,000,00 - $200,000 - $200,000 = $600,000 NOT $800,000 like Cardone says. He doesn't even know how to Subtract and you trust this clown?
@@Brussardjnr He has a channel here, with the last video posted in 2018. His company, Praesidium Global, entered liquidation in 2020.
@@tucuxi70 Yes, but I don't see a problem with what he says otherwise. Do you? Honest question, because it like it.
I'm more annoyed that half of the profiles in this thread were made within a day of each other. I just hope the person trying to rebuild can do it without losing people's money this time.
I was able to save a lot of money in 3 years. I landed a 3 year consulting gig paying over $100K a year. I reside in the mid-west where there is a lower cost of living. I lived with my Mother ( I paid her rent). During this time I also paid off my $15K student loans and $18K Jeep. Now I have zero debt, still making over $100K and able to focus on building wealth via investments,etc
What really guarantees financial security is having multiple streams of making passive income
Diversification is key. 1. Own a profitable business 2. Own real estate 3. 401k or retirement plan 4. Personal stock portfolio 5. Continue to add to each bucket continuously as much as you can. 6. Always keep 10% to 20% cash or available capital to take advantage of investment opportunities.
My wife and I are retiring this year with over $6,000,000 in tax deferred investments. up until 3 years ago we were 100% in the S&P. During bear markets we had a perfect plan. We got an investment manager in our corner and didn’t look at our portfolio for nearly a year. Just kept buying at low prices.
Forex/stock is the best investment anyone could get into. As it could make you rich in a blink of an eye.
it's not recommendable to go into trading or investment when you don't know how it's done, Investing with a good guide is the best way to get started in the trade market. would free you from modern financial slavery....
Real Estate provides cashflow, tax benefits, equity building, competitive risk-adjusted returns, and inflation protection on its own. Whether you invest in physical properties or REITs, real estate may help you diversify your portfolio and reduce volatility. Dividends are what got me into investing in REITs, great way to secure the accumulate wealth, I hold AMT, CCI & PSA. $290k in profits made in 2022.
Consistently investing in high quality dividend paying REITs & companies over the long term is a relatively easy strategy to create generational wealth. My "boring" REITs portfolio paid me over $4,000 in dividends last month.
It's time to make high value games! Discounted dividend stocks. Ever grateful to my CFP "HELENE CLAIRE JOHNSON", I now have a six-figure REIT portfolio, which includes, but is not limited to; AMT, SPG & PSA.... I now have 606 shares of AMT which pays dividends of $3800 per year.
It's time to make high value games! Discounted dividend stocks. Ever grateful to my CFP "Helene Claire Johnson", I now have a six-figure REIT portfolio, which includes, but is not limited to; AMT, SPG & PSA.... I now have 606 shares of AMT which pays dividends of $3800 per year.
I want to play the long term game with well diversified fund. Please how can i reach this CFP of yours?
Most likely, you can find her basic information online; you are welcome to do further study.
Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?
I'd avoid the index funds, mutual funds, or specific stocks for the time being. The 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows sign of recovery.
This is why I entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
There are many independent advisors to choose from. But I work with Monica Shawn Marti and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.
I really appreciate your useful advice. I was able to set up a call with her and confirm her identity. She seems incredibly knowledgeable, and I appreciate your advice so much.
Great video! I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
$2,000,000 -$1,000,00 - $200,000 - $200,000 = $600,000 NOT $800,000 like Cardone says. He doesn't even know how to Subtract and you trust this clown?
This is a well detailed and informed video. I'm here to learn how to invest after listening to a guy over the air talk about the importance of investing and how he made $410,000 in 5months from $180,000 startup. Somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas
Investing in crypto and stocks is a good idea, a good system would put you through many days of success
Job will pay your bills, business will make you rich but investment will make and keep you wealthy
Having monitored my port_folio performance which has made a jaw dropping $370k from two quarters alone, I've understood why experienced investors make enormous returns from the market
Interesting, I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself. Do you trade on your own?
I trade with Expert Denise Mitchell, a FINRA regulated broker. Met her sometime early last year at a startup funding event. She had some interesting things to say about the state of algorithmic trading today, very obviously, it's reflecting on my portfolio
Successful people don't become that way overnight. What most people see as a glance of wealth, a great career, and purpose is the result of hard work and hustle over time. I pray that anyone who is reading this will be successful in life
I’m celebrating a $30k stock portfolio today. I started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me
Wow, really. I was able to make my $25k on investment
@@clydeorlan2615I’m looking for something I can venture into on a short term basis, I have $15k sitting in my savings
Assets that can make you rich
*FX
*Btcoin
*Stocks
*Gold
*Real estate
You’re right but a lot of people remain poor due to ignorance
Hearing this has actually inspired me to change my entire life
lol
This inspired me to get 2,000,000 first 😆
@Pïnned by Grant Cardone sure do u want my bank account and/or social security number?
The Retail investor is not getting the best execution on the market .. In My Opinion the Sec is aware of the current status of what’s happening . Everything is Sequential, until the green light is given …Godspeed to all you apes.
I hate that the market can be manipulated by a group of people. they go about kill small investors but i am of the opinion of being unemotional towards the market, don’t FUD or FOMO no matter what, have in mind that the market will always present an opportunity so be patient.
@@IrenaDolinsek I always want to be trading something at my early stages of coming into the market which made me FOMO resulting to me loosing a lot of money, at a point i had to use a manager in the person of KATHLEEN YANELLI CAROLE who grew my $115k capital to $175K in 3 months.
@@Erinmills98 Exactly, i will never go into this market without assistance, please who is this coach that helped you, can you possibly do a referral?
@@AstaKristjan Just go check her on the web, there really nothing much for me to say here.
I believe a video on "How to profit from the present market" will be more effective because, given the way the market is moving, we'll likely retain our investments for longer than 2030 before making a profit. After all, I've heard of people who have made up to $250K in a matter of months and I'd like to know how.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@ThomasHeintz Please can you leave the info of your investment advisor here? I’m in dire need for one.
Elise Marie Terry is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.
@@ThomasHeintz Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call
For passive investments, tax deductions for real estate is limited to $25k per year in aggregate. The only way to fully capture all the depreciation and deductions is if the real property is an active investment with compliance to IRS rules and requirements.
What Grant presented is a general example, not to be taken literally, especially with the numbers he presented. His main point is to leverage your earned income in to assets that give you passive income and reduce your tax liability as allowed by law. You need to consult w/ your tax advisor to make sure this can work for you.
Thanks Grant. You explain this very well. I’ve been doing this for 35 years now and have become extremely blessed because of it. I hope more and more people will take note and put this advice into action.
I’m going to try it soon 🙌
How to do this with 50k & these rates ?
I hope you're ready to go and fight in the military given this mindset.
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam
Wow I'm just shocked someone mentioned Expert Mrs Lucy Mary Liam I thought I'm the only one trading with her
Though I started with $1000 but it was successful, it's been four months since I started investing with her and it's been a great experience
Ever since I lost my job with the ministry I have been surviving through my investment with Mrs Lucy Mary Liam, I'm so glad I invested when I did.
I also trade with her and i earn $5,000 every week, all my family have been trading with her and making profits, we love you Mrs Lucy Mary
Despite the economic downturn I'm so happy I have been earning $25,000 returns from my $2,500 investment every 15 days.
Started up few hours ago but I'm already feeling the excitement of the profit outcome with Mr Sam.
Sam I am
You need to make a video on how to make 6 figures monthly because I have read about investors making up to $650,000 within 5 months and I really want to know how to outperform the market and make a significant profit
Best thing is to carry out extensive research and be on top of current events. Know how current events can alter share prices and apply logic over your emotions. This is what worked for me. Best of luck
it's all about finding the right moment to take advantage of and generate colossal profit, which is why you need to do your research
It is essential for you to have a mentor to keep you accountable
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you?
I would definitely trust a guy who gives financial advice but says 1.000.000 - 400.000 = 800.000. For sure.
Man chill out
But he's a multi millionaire and your a broke bum🤔
2.4mil-1.6mil
Glad I'm not the only one who caught that . And then 2 million into 200 millions .
He should have laid off the last line he put up his nose before making this video .
@@joea5663 LOL, me too.
It's strange how people talk about all the profits, they've been making through trading of bitcoin, while am here not making any profit at all. Please can Someone put me through on the right path or at least tell me what I'm doing wrong?
Same here, My portfolio has been going down the drain while I try trading,I just don't know what I do wrong.
Cryptocurrency trading is really profitable and in order to achieve success, you'd have to keep emotions out
@@grahampotter6100 Trading is tough and even the best traders have substantial losses along the way
@@ericrobert4651 No matter how much effort I put into my trades, I still make more losses than profits. Trading really is hardwork.
@@aguerozeus9705 No matter how much preparation you put into your trades, what matters is your ability as a trader to use a wide variety of strategies in a disciplined manner. Trading is hard work, to be safe you should probably get an expert to help with more profitable trades.
Got it! Thanks! Now I just need to find some real property I can buy for $68.
Just a heads up, from a tax accountant. Depreciation on real estate is depreciated over 27 1/2 years or 39 years (depending on the type of property). You could do a cost segregation study and reclass some of that property as shorter term property and use accelerated depreciation on some of that property but there is no way that you could deduct half of the cost in year one.
Yeah don't worry about the details , ppl feel good about themselves watching these videos and amounts taken out of a hat.
I came here to say this - it's laughable to anyone who knows tax law.
Not only that, depreciation is just deferring that expense. If you sell the property, that depreciation is "recaptured"
Although, heirs to an estate receive a stepped up basis and therefore, I believe, don't ever have to pay the taxes right, Chris?
I asked my accountant about this and she said the same thing. So where does Grant Cardone get this? It’s obvious he has done well in RE. Why would he be so off?
@Jerry Brown many reasons, like these RUclips videos are made to get views, not actually teach you anything. He makes more money by selling his image, RUclips, etc. Why would a successful investor spend time teaching you for free on RUclips? Because he makes more money from that, and realizes his other investments are very risky, in comparison to RUclips
The Depreciation has to be spread out over a 30 yr. period. Per the IRS. It’s actually 27 yrs. That $2.4 million he speaks of can only write off an average Depreciation of $80k year.
Agreed. He said $4.8mil property can depreciate 2.4m in first year. So he is referring to the 50% bonus depreciation, BUT bonus depreciation does not apply for REAL property !
@@jasn010 it does when you do a cost segregation analysis
@@kennethokin yes bonus depreciation can be taken when you do a cost segregation analysis but that analysis will show that you can depreciation the appliances, etc at 50%, but not the bricks, the framing, the roof, etc. grant is saying all 4.8mil gets 50% depreciation in the very first year
You can't question what he's been doing past and present. Your tax preparer works for you so if their job is to reduce you tax bill regardless as to how it's done. As long as it's legal it shouldn't matter
I guess we figured out what Grant's REAL money-making business is then... that's right, it's YOU... and your insatiable desire for get-rich-quick seminars. I think if you look at the old Tom Vu seminar videos back in the 90s close enough, you can see a young Grant Cardone taking notes in the back row, lol. Don't get me wrong though, people HAVE made countless fortunes in real estate over the last 30 years, but didn't need to take a seminar to teach that. Although maybe that's just what's good for society in general... for the GDP. Get people invested, to get people to then followup and do work. Otherwise, without this attitude of wealth/property accumulation, I guess we'd just be a society of hedonistic savages. This way at least, the "hard working", disciplined people will acquire all the property from the lazy and then we can weed out all the unproductive people in society? Hey, if that's the big plan, then I guess I'm all for it. If so, keep on doing your thing Grant; you truly are doing God's work, lol. But does this jive with the great reset? Or is it even supposed to? The answer to all this, and more! When we return from this short commercial break...
Yes , I can confidently say Mr Sam Deymon is one of the few licensed brokers.
Thanks for watching
For more content
Mentorship and Information
Hit me up 👆 👆..
SHUT UP SCAMMER
Taking a loan against your property in theory sounds good but when my mom tried to get a loan on a apartment building in New York the banks would only lend money if we showed them that we were going to reinvested in some type of improvements in said building .. it's not that easy to refinance commercial property And if they do approve a loan (For improvement work) the LTV would be probably no more than 30%!
Absolutely legit! It’s not a loop hole it’s what makes people take risks. You should be rewarded for taking risks.
Yeah or simply left alone when you make your own money
@@Lgo559 100% agree
@@Lgo559 WTF. Then you should pay for private police, roads, schools, water piping, forest management, etc.
@@Jonny17m Don't think small. Buying RE stimulates the economy. A RE agent, Lawyer, contractor, Home depot, Insurance, utilities, etc. I can go on. More expensive real estate requires employees(security, cooks, maintenance, etc). Then all these entities pay taxes. This is how they power the economy. America would be the 4th world if people took no risks.
@@alb12345672 Yeah trickle down effect but it doesn't work.. Just look at the US people are basically living on the streets while people are buying houses for hundreds of millions which don't provide any benefit. The US has become like France under the ancient regime.. Rich people their think they are above the law and act if they are monarchs absolutely crazy place. Every person I know living in the US wants to leave.
As an MBA Finance, CFA charter holder with a law degree too (that's right all 3) he's right. When he stretched to future years there is a timing and years flaw a bit here in a technical sense (or let's say assumptions are somewhat unlikely) But he's got the concept correct and for back of the napkin for everyone we should be glad he's sharing this. I'm also Italian so Love Cardone maybe I'll take a trip and go meet him for 3 minutes show my respect and thank him. Baciamo le mani e viva l'america.
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
@Dan Brooks Impressive can you share more info?
@Dan Brooks She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
So many scams...
He's right...I've been running a business for 10 years you know how much I claim? 30 grand earned income. I claim my 2 kids on my taxes and it's a wash .. I'm making way more than 30 grand but that's all they see. I hope to claim zero someday soon! Play the game folks!
Maybe he cleared it up in the end (I watched 6 min) but you can not offset ordinary income with the passive losses (depreciation) from real estate as he mentions… passive losses can only offset passive income.
Real estate guys get around this by having a tax designation of a “real estate professional”, which most can get. That allows them to offset ordinary income with those losses
Correct, good point
Exactly!
There’s a problem here, as I come from a family who does real estate/rental property. You CANNOT deduct 100% of depreciation in the present year! This is annualized over 27.5 years typically so you have to divide the number by 27 to get your actual depreciation. Also of note, this is recaptured and taxed as income upon sale of the property. I really hope that many of you get better and more informed advice before you do make any large scale financial decisions. The idea in principle is good, but the way it is presented here is misleading and not correct as any reputable CPA will tell you.
He is just trying to finesse stupid rich people o think notice his math was off in the beginning
Exactly! I was like... "wait a second!" lol
Yup !! So true .
yeah I notice that too, I have an investment property and I can't depreciate all in a year but more like in those 27.5 years
You aren’t aware of the accelerated depreciation deduction rules. It’s a specialized and complex concept. Essentially, it pulls parts of the building out of the 27.5 years and puts the into different depreciation categories that depreciate much quicker. Don’t be so critical, sometimes there are things others know that you don’t. What he’s saying is 100% true and doable.
This would be a great idea if we didn't have to pay tax on our pay until the end of year. Otherwise, you are taxed up front and can claim credits on your tax return. However, that 2M would actually be automatically reduced to 1M before it could be reinvested into real property. In Canada, working a 9-5 job, this doesn't work - unless I am missing something but I don't think I am.
Create a company under your name.
Go to your boss, quit your job, and let him rehire your one man company to do the same 9-5 except now bill him every 2 weeks. and voila.
I am in agreement with @moumtazkaoukji368. The tax codes do not usually benefit employees. Freelancers and business owners can implement more tax strategies.
@@moumtazkaoukji368 you lose all benefits from that company doing this. good luck with health insurance, good luck with a retirement plan.
I am thinking the same thing. He is advising this for high income people who get paid in payments that are not subjected to pay roll taxes. 9-5 people can still do it, but you need to save enough for down payment or do zero down real estate,(as some books claim it). I am skeptical about taking 50% depreciation in 1 yr.
The problem with this is that for you to be able to deduct depreciation from real estate investments from your earned income, you have to meet certain tests by the IRS, specifically to be considered a real-estate professional you need.
Perform more than 50% of services in real property trades or businesses (“50% test”), and
Perform more than 750 hours of service in real property trades or businesses (“750 hours test”), and
Materially participate in each rental activity (“material participation test”).
It's going to be difficult for most professionals who get income from sources other then real-estate to meet the criteria, especially the 50% test.
Grant my man..... I am just impressed that you were smooth talking them so good they missed at 2:07 where you took $1,000,000 minus $200,000, then minus another $200,000 and showed them it was $800,000 LOL 4k comments later I do not see anyone mentioning this $200k mistake LOL
Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
Venturing into the bitcoin without an adequate orientation with a professional broker for accurate signals, you might lose all your hard-earned money
Binary trading is a good and reliable way of building wealth which also create opportunities for crypto Believers.
You see in trading cryptocurrency, one requires more than just a primary knowledge of crypto. It is best to trade with an expert to avoid unnecessary losses. It's advisable to have a professional trader/broker who is an expert in the field to help you manage your account.
After watching several RUclips tutorial videos about trading I am still making losses, please I seek for a better website.
For the regular people out there like me. My father taught my brothers and I this process before YT and the gurus. We have gone our separate ways but have maintained building our rental portfolios and it isn't for million dollar earners. We each own over 30 properties.
We never bought our own home in our name. Why would we? It was always as a business so we could expense out everything and get depreciation. You depreciate the property over 27.5 years. In the example, your household earns a high income as well as investment and real estate income. If your tax liability is 100k per year, you build your portfolio to 10 properties with depreciation worth 275,000 or 10k depreciation per year each. You would owe zero taxes at the end of the year.
I'm also a proud beneficiary of Sam Deymon trade! I've built my portfolio massively and still building.
Thanks for watching
For more content
Mentorship and Information
Hit me up 👆 👆.
For salary earners having a passive source of income is the best thing you could have , because aside the the fact that it isn’t always enough you could lose your job any day at any time , have something to fall back to is crucial , for me it is trading the Forex and crypto market and no I didn’t have that much knowledge to begin to earn that’s why I said passive income, I leave the profit making to the pro like my Advisor 'Camille Alicia Garcia' , who has been doing a wonderful job
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor
Not at all, having monitored edge my portfolio performance which has made a jaw dropping $483k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market. I must say it's the boldest decision I've taken since recently.
@@hunter-bourke21 I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
My financial advisor, '''Camille Alicia Garcia, is a highly qualified and experienced professional in the financial market. She possesses a broad understanding of portfolio diversification and is recognized as an expert in this field.
Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
After the market's Significant gains in the last few years after the worst pandemic , officially entered a new
bear market earlier this year, but .My greatest concern is how to recover from all these economic and global
troubles and stay afloat especially with the political power tussle going on in
the US and for sure my
diversification process but still on fence about the market future
@shane heried I did check her out,her resume looks top-notch and her website proficient written her
The biggest concern is the corrupt democratic party pulling the strings
Lol....
So, when you invest "most of your earnings" to avoid paying taxes, that means you will live with minimum expenditure just like any low income earner! This way, you are hardening your life and building fortune for your next generation, and your agent, and manager will live a better life than you!
What an advice!!
Nice one .This is a fantastic breakdown of the steps you have to take to build true wealth. I feel exceptionally lucky I started investing in my early 30s and consistently compounded my income via assets to create more cash flow. I grew to a 7 figure mark well-diversified portfolio having exposure to different prolific investments. Passive income is mandatory for building long term wealth
@Poppy Pearce I invest across the top markets but not by myself though. i follow the guidelines of Larry Kent Nick. you might have heard of him.. I can correctly say he's worth his salt as a investment advisor as his diversification skills are top notch, I say this because i see that in him results as my portfolio grows by averages of 20 to 3O% on a monthly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what he place and not just on some particular industries of my choosing
@Poppy Pearce Larry Kent Nick Trading
IRS rules that the only person who can offset their earned income with accelerated depreciation from real estate is a real estate professional. To qualify, people need 750 hours per year doing real estate related activities, and the hours they spend on real estate have to be more than those they spend on other trades or professions. So this alone would exclude most artists or athletes he's talking about. Did you follow Grant's methodology and how was your experience?
Biggest thing is WHEN you come across enough money to ACTUALLY work with. Don’t buy ANYTHING cool in the beginning. No Lambo. No diamonds. For at least the first couple years of getting money. Just property and equipment 💯💯💯
@Pinned by unbox therapy wrong channel scammer Hahaha
FYI: This ad is targeted towards major league sports player.
Thanks Grant..how I need to manage my money is hugely helpful...kind regards
@Pïnned by Grant Cardone◽◽ Can this system be used for white collar workers. I'ma a truck driver just asking..
Thanks for your time and your support to the community great video information 👍 ❤
Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for.
Very true
A great work demands a great sacrifice and who is not capable of a great sacrifice is not capable of a great work!
Speaking of investment, I have been finding a tough time deciding between mutual funds and real estate investing, anyone with ideas to help me with?
@@benildabituin1531 I'm into real estate investing.
Real estate investing lets people grow their net worth by amassing more and more properties. Its a good long term investment idea due to appreciation.
I know am not suppose to post this here but the Crypto market is gradually moving towards something big and the price surge over the past few months is just the beginning of greater things to come. Trade well on demo but I think the real market is a bit difficult. You got any advice for someone that is fresh to crypto, Don't know where to start..
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
You see in trading cryptocurrency, one requires more than just a primary knowledge of crypto. It is best to trade with an expert to avoid unnecessary losses. It's advisable to have a professional trader/broker who is an expert in the field to help you manage your account.
Venturing into the bitcoin without an adequate orientation with a professional broker for accurate signals, you might lose all your hard-earned money
@@brettdarcy2747 Binary trading is a good and reliable way of building wealth which also create opportunities for crypto Believers.
I am into Real Estate Business, but I took the decision to invest in the Crypto market and I have been getting good returns on my investments. The market is also an effective way to grow wealth.
Thanks Grant, I am an accountant. Your example on the white board is simple to understand, BUT please help me understand, what kind of real estate can you depreciate at 50% in the first year? That’s question 1.
Question 2: depreciation reduces book value…. So if you can depreciate it by 50% in the first year, when you sell that real estate, you’ll eventually have to show that profit and pay tax on it…. Or do you propose to hold and keep buying up more real estate with the earnings until one day what happens? You have bunch of depreciated assets that you can’t sell bc if you do, you’ll have to pay taxes on all the gains?
Or do you begin to rent it out….? Or so you have rental income now with nothing to depreciate, etc. is that the strategy?
Ans2- he said that we can take loan against that property which will be non taxable
@@divyajain4689And such a loan would have an interest higher than the appreciating percentage of the asset. What if the asset starts depreciating? You'll be pushed ro sell to cover the loan and after the sale you also pay income tax
Can you do 1035 exchange for another property and keep the money?
1) Cost segregation study can pull depreciation forward
2) 1031 exchange to another real estate investment. When you die, the cost basis gets reset to the current market value and erases those capital gains for your heirs.
10:00 Borrow money out of the future, after they make their money for the year, they take that money, reinvest it in another business or real property, pay themselves 0 and use the depreciation of the talent (earned income) to borrow / transfer taxed credit for the next year and make money from appreciating assets
I am finally understanding how to utilize all the tricks the rich use to grow their money and all I can say is I'm excited to get started. Thank you so much for spreading the knowledge to us common folk.
Doing that and investing in IUL with cash value Life Insurance.
@Grant Cadone what’s the email 📧? It doesn’t show on the comments
@@sonofthunder1147 uh how come? I see it.
Market declines, soaring inflation, a significant increase in interest rates by the Fed, and rising Treasury yields all point to additional losses for portfolios this quarter. How can I profit from the present market turbulence? I'm still debating whether to sell my $125,000 ETF/Growth Stock portfolio.
Concentrate on two main objectives. First, keep yourself safe by knowing when to sell stocks in order to limit losses and maximize gains. Second, get ready to benefit from market changes. I advise consulting a CFP or other professional for advice.
my 401k growth has been stagnant since the 2019. I wouldn't mind consulting the advisor who guides you, I really want to grow my retirement fund since I could retire in 3 years.
@Zahair O'Brian Thanks, I just googled her and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
So if you own a business, you can pay $0 if your business costs are equal to or greater than your income. So basically, invest your business income into more assets to your business aka business costs that help grow your business and you'll pay no taxes and grow a business or assets that can help you get debt to growth the business even more.
Would be nice to see an episode of you and Ben Mallah together. You both could teach us a lot more about investment and real estate.
*Reading about people grabbing multi-figures monthly as income in investment even in this crazy days in the market,any pointers on how to make substantial progress in earnings? would be appreciated*
Grabbing multi-figures in Crypto is possible with the right approach...no doubt Crypto is volatile which we've seen but committed investors are making passive income weekly and more grabbing multi-figures
I'm a newbie in Crypto and holding some Cryptocurrencies in my wallet but I'm scared I'm going to lose my funds due to the recent crash 😫
@@dianaaudibert5745 you don't have to get scared if you plan on a long term holding but if you're hoping to make passive income with coins you've got in your wallet, a professional and genuine broker is advised to manage your account
@@noahsebastian2430 I hope to make passive income maybe weekly or monthly... can you suggest a genuine broker?
@@dianaaudibert5745 you can connect Debbie, I've been investing and trading my cryptocurrencies with her signals and has been nothing short of impressive return of investment
Cost segregation. Just did it on a 3.7M buy last year. Took over a $880,000 lose and carried $400k of loses forward.
He simplifies it, but it’s actually simpler than how he explains it.
I don't get this...because what he's leaving out is that if your earned income is zero you cant get financed to buy any property (he's figuring that 1.6 million as 30% downpayment) because in doing this you are saying you actually made nothing and everything went to expenses, and you had no income. Therefore you cant borrow money because on paper you are showing you have no income to repay the loan. How can you write off the real estate purchases as an expense if they are for investment purposes?
@@drewskeez1156 depreciation is an expense that does not come out of pocket. Banks don’t use depreciation to calculate your income. Plus. Banks really only look at the property to give loans. If the property covers all expenses and then some they will lend to anyone. Only thing they really look at is your credit score. This holds true as long as its not owner occupied
Please explain further. You can not depreciate your real estate property by 50% in 1 year. That only applies to equipment. In fact, the value of the land can not be depreciated at all. For your 3.7 million dollar commercial property, it has to be depreciated over 39 years, which would be a max of $94, 871 per year, and would actually be a little less due to the land value.
@@jaquevius cost basis 3.7M. 15% went to land and 85% of value to building. It’s accelerated depreciation and you 100% can. Google cost segregation. Literally just did it. All your doing is accelerating the depreciation using a cost seg study which allocates what is allowed and what is not. This allows you, by tax law, to take bonus depreciation (faster) than you normally would.
@@JamesBonadies we are saying the same thing I believe. I just didn’t look at your numbers, and assumed you were agreeing that you could depreciate the entire purchase by 50% like this youtuber stated, which is false. Now that I looked at your numbers, it falls in line with what I was saying. You can ONLY rapidly depreciate upfitting (walls, wiring, equipment etc), but NOT the building. For most buildings ~1|3 of the total expense/purchase price falls into this category, not the entire purchase. Therefore ~67% (or whatever the value of the building itself is minus the segregated assets and minus the land value) MUST be depreciated over 39 years, and you can not rapidly depreciate it. He was saying that you can buy a 4.8 million dollar property and depreciate 2.4 million to reduce your taxable income, and then carry over an extra into future years. Your numbers fall in line with this as you are saying you depreciated just the allowed segregated PORTION which is typically ~1|3. This guy is inflating this however. The other point, is that taking the accelerated depreciation doesn’t always create an advantage, unless you are going to flip the property in a short amount of time. Traditionally, those same upfits that were segregated out in your analysis, are depreciated at 5,7,15 years depending on exactly what it is. It has never required the 39 year timeline. For instance, I have a medical building that I will be keeping for 20+ years. It worked out in my advantage to depreciate those segregated expenses over the more traditional 5,7,15 years (the building still has to be depreciated over 39 years) rather than paying zero taxes in the first couple of years, and then not having the depreciation to offset after that, since I’m in the highest tax bracket. Now if you are either going to flip the property in 2-3 years, it makes perfect sense.
I loved the end. Hahaha. “Tax write off (as he points to an employee), tax write off.” I appreciate his confidence. :)
U the best in real estate. Inspire me
0:33 Save your time with this flook! Get a good tax attorney, get a good accountant, and get a good tax provider. Build a team spend some money, you can't know everything. Get professional qualified people to help you with this trust me. If you making over 200k a year that's what you gotta do.
Theoretically, since you are investing in "property" for tax purposes, and borrowing against it in the future, as it appreciates, you don't have to use real estate as your property vehicle.
You could invest in Bitcoin, which appreciates much, much faster than real estate, since it is regulated as "property" according to the United States Tax Code
BTC don’t depreciate lol
Bitcoin is gonna die.... everyone thinks they can keep making money off this and soon all of you thinking this will lose everything.... just watch
@@jasonsnyder8267 Jabronis like you have been saying that for over a decade, so thanks for the ignorance.
when Grant said you can borrow 40m of tax-free spending cash from the bank against 100m of your assets, how is that tax-free? Wouldn't you have to pay back the 40m loan to the bank each month maybe even with some small interest on top? So if you have to pay back 40m+, then where is that 40m repayment coming from? From your ongoing passive income? If so, wouldn't each monthly repayment be taxed as personal income? Or is Grant saying that he will default on the 40m loan and let the bank seize 40m worth of assets, leaving him with 60m worth of assets and 40m spending cash tax-free?
@@NoOne-jy6mc You pay it off from your non-earned income, which is taxed at a lower rate than earned income.
It's tax minimization. You don't get rid of taxes completely. My old professor, Tom Wheelright, does this and he has a RUclips channel now. As far as I know, nobody gets to absolutely 0. Although I do see some people get awfully close. Depends on how serious you are about short changing society lol
Man you are jacked, ripped and full of energy.. THAT alone is worth taking influence from somebody who is healthy and wealthy..
I really laughed when he said " I really need to invest in a new white board 😂😂"
U should have “really laughed” when he took 4 from 10 and got 8 smfh
Do you provide revive that helps to make a decision on where to buy the property and how much to spend , in other words I need initial help to start my baby steps in to doing this
I tried to use real estate agents but they don’t have a clue
no doubt, b/c "buying" it would require your earned income.. "investing" mean he'd use his passive income. He's literally taken that curse word called earned income out of his vocabulary, lol
@Pinned by Grant Cardone scam alert
😂😂😂
Getting rich easily absolutely exists and happens everyday.
Getting wealthy is hard work ☹️.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
People prefer to spend money on liabilities, Rather than investing in assets and be very profitable.
Most People fail to understand that living a life without passive income isn't worth much except trying to payoff debts and loans.
Yeah, All passive income ideas work as long as you put the work in. I focus more on crypto/real estate with the assistance of my financial consultant Deborah Q Sharon.
In 2010, I invested $3,000. With the price of bitcoin only US 15 cents at the time, that means I had almost 20,000 bitcoin.
Great video 👍 very educational and inspiring. I escaped from the Yugoslavian war as a child into Scandinavia without anybody to teach me how to use my money smart. I worked my ass off as a kid and in my 20s but learned that the school is the way to get a good job.
I completed my masters in IT and worked for 7 years as a project manager, but I learned that corporate life is not for me. Depending on somebody else for a pay raise, stressing for promotion and clap on the shoulder did not motivate me at all. Now I have started with one million of banks money, to invest in properties and I am looking forward where I have enough “passive income” to retire and enjoy life.🤙
4.8m in real estate does not provide you with 2.4m in depreciation at least not on the first year. Real estate depreciates at either 27.5 years or 39 years. Say you bought a commercial building for 4.8m, it will take you 39 years to fully depreciate it. By the way, land is not depreciable. Your 4.8m property will allow you to depreciate either $174,545 or $123,077
Uncle G is right!
Another way to look at is owning a lot of real estate is a big risk and a pain in the ass with tenants and such. If you really got it going you can't afford the time it takes trying to avoid paying all the taxes and your whole life becomes a hell of a lot more complicated removing your free time to do what you do best. The last thing I want is 100 million in real estate. Gordon Gecko said it best, "Do you want to just get by on a 400,000 a year working stiff income, or do you want to be a player, I'm talking liquid, 50-100 million dollars". The key word is LIQUID. Real Estate is about as liquid as a block of cement.
Our issue stems from the prevalent belief held by the majority that "having a good job is all it takes to become wealthy." Many people are unaware that these billionaires are using a different set of rules when conducting business.
You live and learn. I blew two funded $50K accounts with Karen L Nancy mentorship program. It's really making me self reflect and be able to see my trading mistakes even more. I got caught up in revenge trading and not walking away when I should have.
That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to get rich.
The best approach for novices is to trade under the supervision of an expert, trust me you will be debt free.
Wish I knew about crypto trading earlier.stock is good but crypto is better. Brace up and get yourself a bitcoin before it's too late.
Crypto is the future, investing in it will be the wisest thing to do especially with the current rise.
If you borrow money against your assets that is non-taxable event, but that loan needs to be repaid by some taxable income.
Seems legit! Now teach us how to make that first 2 million, please.
Start selling brother - over $1,000 deals / commission
Buy and sell/ buy low sell high/ look around you people through away stuff you can go get it for sell it
As a tax accountant, yeah if you write fast enough anything is possible.
I was getting that impression as well.
what exactly it means like anything is possible
Grant can get a little too much to the point I stopped paying attention ……but this video brought me back. Useful info has me a fan again.
Feel that big time
❤️❤️😂
❤️❤️😘❤️❤️
@@Chickenwinger09 😭
❤️😂
Thanks. As soon as I start making $2 million, I'll work back around to this video.
i am 17 i am very very passionate to start self development and personal finance business . how do i start . what should i do and know to start please reply.....
First Just Stay Out of Trouble No Drugs, No Entertainment, No Waste of Time and Try to Find Your Passion As Soon as You can And Start Reading some Books , Get Your Routine Right, Follow Right People on Social Media ! Learn a Skill as Soon as You Can !
Hey pal. Start with developing a trulu valuable skill, one that pays extremely well and that you're good at.
Become a master in that skill. A true master. Then... When you start earning money, IMMEDIATELY turn it into an asset by investing it into your own business, stocks (other people's businesses) or real estate.
Then continue to reinvest wisely and eventually borrow against those assets as Grant said.
Don't get married
Its not an expense, its an investment to pay tax. And sometimes somebody else, than you, will get the benefits of that money.
And thats ok. Helping people is the way to go❤️
Grant Cardone the man!
I thought he was woman😂
I understand all of this. This is an extreme case. You can't go all in in years 1, 2, or 3 because you need money to cover loan payments if the properties are not rented.
I’m a CPA, and i approve this video
Sure sounds like Grant says you can use passive losses to offset $2m of ordinary income...
Can you explain how a passive loss can be deducted against ordinary income to lower your tax bill as this video promotes?
How will you get 50% depreciation on the whole property ? Till what I understand it’s just on few improvements of the property
@@jamesdean5886 Passive losses can be netted against passive gains and up to $3k of next passive losses can be netted against ordinary income per year and will carry forward to future years.
@@jeremyparvinrealestateinve7087 Bingo! Passive losses can be netted against passive gains NOT ordinary income ($3k is peanuts) which is the opposite of Gordon says at 3:05 in the video "$2.4 million of depreciation which reduces this tax bill..to negative $800,000" IT DOES NOT! YOU WILL STILL PAY TAX ON $1.6 MILLION OF ORDINARY INCOME IN HIS EXAMPLE. This video is totally misleading.