How The System Keeps You Poor! | Jaspreet Singh (Replay)
Tom Bilyeu's Impact Theory
Impact Theory
4.7 • 5.2K Ratings
🗓️ 27 May 2024
⏱️ 67 minutes
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| 0:00.0 | Why financial education is so important is because if you don't understand this, you are going to get screwed over by the system. |
| 0:06.0 | Because now, guess what, your gas is going to be more expensive, your groceries are going to be more expensive, |
| 0:10.0 | your home cost is going to be more expensive. The cost to do anything is going to cost you so much more today, next year, the year after that, |
| 0:17.0 | well, your salary, hey, you got a raise, but you're actually broker now |
| 0:21.2 | than you were before the raise because your raise isn't keeping up with inflation. |
| 0:27.9 | Jespreet, over the next hour-ish, you and I are going to snatch people from the jaws of poverty. |
| 0:33.7 | You in? |
| 0:34.2 | Let's do it, man. |
| 0:35.1 | All right. |
| 0:35.4 | So I have a sincere belief that there are habits that keep people poor and that anybody, regardless |
| 0:41.9 | of where they're born, what their circumstance is, if they do the right things over a long |
| 0:45.5 | enough time period, they can get out of it. |
| 0:47.2 | We are living in horrendously uncertain times. |
| 0:50.4 | Yeah. |
| 0:50.7 | What are the things, the habits that keep people poor? |
| 1:11.0 | Wow. Well, the first one really has to do with understanding money because unless you understand what money is, none of the other habits really matter because at its core, what is money? And when you ask people that, you might say it was a $100 bill, $50 bill, that's what money is. But what is that money? Because that money that we have today is different that what money was 60 years ago. The money that we call money today |
| 1:17.2 | is currency. It's really just pieces of paper. And when you understand that, it's going to change |
| 1:23.4 | what you do with the money. And the reason why I'm saying that is because I'm from, my family |
| 1:28.7 | is from India, a state in India called Punjab. And over there, it's a very traditional thing |
| 1:34.5 | that when you earn this paper dollars, many people will convert this cash into gold because |
| 1:40.1 | they understand that these paper dollars lose value and it's just paper. So they want to convert it to something real, something tangible, so they will go out and buy |
| 1:47.0 | gold with it. |
... |
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