Wealthion - Be Financially Resilient cover image

Thinking We'll Avoid Recession Is Delusional | Michael Green

Wealthion - Be Financially Resilient

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The Degraded Financial Knowledge of the Younger Generation

A lot of people in the younger generation actually want to believe that. We're seeing things like a surge in business applications because of ridiculous things like the government change in 1099 requirements where you used to be able to make up to $20,000 a year without having to file a 1099 for independent business earned income. That threshold fell to 600. Many people individually will remember that as their kids calling and saying, by the way, if you're transferring money to be over Venmo, you can't do $10,000 like you used to. All of this is feeding back into a situation in which we just don't really have transparency in terms of what's happening.

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