Money Myths & Trivia
True or false: the stock market is legalized gambling
False: Gambling means someone can only win if someone else loses, and it's based on chance.
The stock market represents ownership in businesses. Businesses are trying to make money, so everyone who participates in the stock market can win.
What is the most common vehicle owned by millionairees?
Toyota (16%)
Honda (15%)
Ford (8%)
Lexus (8%)
Danny says he inherited his sense of humor. Who did he inherit it from? (Previously discussed in an educational moment)
Grandmother
72
Rule of 72 states that 72 divided by your interest rate is the number of years it takes an investment to double.
What does the s&p500 track?
500 largest publically traded comapnies in the US
True or false: When the stock market hits an all time high, it means a crash is coming.
False
What is the most common occupation of millionaires?
Other common occupations are engineer, accountants, management and attorneys. (Doctor doesnt make the top 5)
How big does Danny say is the biggest fish he ever caught in Idaho?
How big is that fish actually?
Both answers are the same. 4.5 lb brown trout that was 24 inches long. Caught in the Boise river in town.
11.5
The average return of the S&P 500 over the last 50 years.
What does it mean for a stock to be bullish vs bearish?
Bullish means it's going up
Bearish means it's going down.
Most common measure is the 50 day average vs the 200 day average.
Paying off a credit card that is charging 20% is equivalent to an investment earning 20%
79%
If Danny had a choice between going skiing or going rock climbing which would he pick?
That depends on if there's snow or not.
7
The annual return the average american gets in their retirement accounts
If an investment shrinks by 30%, how much does it have to grow to be back to it's original value?
42.86%
True or false: Money kept in a savings account or a CD is safe.
False. There is no such thing as safe money
What is the average value of homes millionaires live in?
60% of millionaires live in a house worth $500,000 or less. (Dave Ramsey Study in 2024)
Danny loves to name his vehicles. What is the full name of his truck?
Kayla Macarana Cocaiana Juan Carlos de Los Robertson.
My last vehcile was:
Juanita Marita Rosalita Juan Carlos de Los Robertson. (Named after a friend's chihuahua)
490
The number of times Jesus told you to forgive someone.
How many different stocks need to be owned for an investment to be considered diversified?
There is not a common answer for this.
True or false: A stock that is trading for $10 per share is cheaper than a stock that trades for $20 per share.
False. Share price alone says almost nothing about the valuation of the stock which is based off of many things including company size, number of outstanding shares, past earnings, and expectation of future earnings.
What percentage of millionaires follow some sort of a budget?
94%
What is Danny's favorite soda?
Bonus question, does he own stock in that company?
Mtn Dew
No
210
How much Danny weighs according to his drivers license.
If you have 2 investment choices that both earn 10%. One of them makes exactly 10% all of the time. The other one fluxuates by large amounts. So in some years it loses 50% in other years it gains 75%, but it averages out to 10%. Which investment makes more in the long run?
Depends on when money is put in. If all the funds are put in at the begenning, then the investments tie. If money is put in on a monthly basis over many years, the second one will usually win, but it depends on the "sequence of returns"