The six income streams discussed are:
This video provides a strategy for building wealth, focusing on actions individuals can take regardless of their background or financial starting point. The video challenges conventional advice and emphasizes contrarian thinking and leveraging opportunities.
The video outlines a five-step plan to improve your credit score:
If you have no credit history: Apply for a secured credit card (like a Discover It Secured card), make small charges monthly, and pay the balance in full on time.
Sign up for free credit monitoring: Use websites like Credit Karma, myfico.com, or experian.com to track your credit history and score improvement.
After six months: Apply for another free credit card (examples: Bank of America Cash Rewards, Wells Fargo Active Cash, or Chase Freedom). Continue making small purchases and paying in full and on time.
After 12 months: Apply for a charge card (like the American Express Gold card), acknowledging the annual fee but highlighting the potential for rewards to offset it. The lack of spending limit helps raise the credit score.
After 18-24 months: You should have a credit score between 720-780, allowing for lower interest rates on loans.
