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Be Wealthy & Smart

Why the Luxury Goods Market is Shrinking

Be Wealthy & Smart

Linda P. Jones

Finance, News, Invest, Investing, Economy, Money, Financial, Business News, Business

4.8883 Ratings

🗓️ 15 November 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

Discover why the luxury goods market is shrinking.

Are you investing well for financial freedom...or not?

Financial freedom is a combination of money, compounding and time (my McT Formula). How well you invest, makes a huge difference to your financial future and lifestyle.

If you only knew where to invest for the long-term, what a difference it would make, because the difference between investing $100k and earning 5 percent or 10 percent on your money over 30 years, is the difference between it growing to $432,194 or $1,744,940, an increase of over $1.3 million dollars.

Your compounding rate, and how well you invest, matters! 

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Be Wealthy & Smart,™ is a personal finance show with self-made millionaire Linda P. Jones, America’s Wealth Mentor.™ Learn simple steps that make a big difference to your financial freedom. 

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Transcript

Click on a timestamp to play from that location

0:00.0

Be Wealthy and Smart, episode 1429.

0:03.6

I'm going to live the rich life,

0:08.1

a fool in best life, yes, life.

0:11.0

See if y'all know what I mean, put your hands up and declare with me, yeah.

0:14.9

I'm full of bread, eh, eh, eh, ha.

0:18.5

I'm going to live a good life.

0:21.6

Beautiful and glorious life.

0:25.6

Step into a world of wealth and financial freedom without budgets, boredom, or bosses on Be Wealthy and Smart.

0:33.6

And now, here's your host, Linda P. Jones. Welcome to Be Wealthy and Smart. I'm Linda P.

0:40.6

Jones, America's wealth mentor, empowering women and men worldwide to financial freedom.

0:45.1

On today's show, we're going to talk about why the luxury goods market is shrinking.

0:50.2

Now, recently, I noticed a very important new trend, which I'll share with you in just a minute.

0:55.5

But when I talk about the luxury goods market, I'm talking about high-end personal luxury brands,

1:02.0

such as Louis Vuitton, Chanel, Prada, etc.

1:05.7

During the global financial crisis, the personal luxury goods market really took off.

1:10.3

And prices escalated, but people didn't seem to care. Buying personal luxury goods market really took off and prices escalated, but people didn't

1:12.5

seem to care, buying more luxury goods than ever. But now, with global uncertainty and inflationary

1:18.6

pressures, people are really rethinking what they're purchasing and why they want it. But I think

1:24.3

there's a more important trend here that's not being discussed. And that is the

1:29.0

resale luxury goods market. You see, the resale luxury goods market is popping up like I've

1:35.0

never seen before. Recently, I was on a cruise to the Caribbean, and on the cruise ship, they had a shop

1:41.8

filled with pre-owned designer handbags, Louis Vuitton, Chanel, et cetera.

...

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