The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh

The Diary Of A CEO with Steven Bartlett

FlightStory

Society & Culture, Business, Education

4.6 • 13.2K Ratings

🗓️ 21 November 2024

⏱️ 149 minutes

🔗️ Recording | iTunes | RSS

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Summary

Revealing what hedge funds and multinational banks don't want you to know about building wealth! Jaspreet Singh is spilling secrets and helping everyday people find financial freedom Jaspreet Singh is an entrepreneur, former attorney, and financial educator. He is CEO of Minority Mindset Companies and host of the 'Minority Mindset' finance and entrepreneurship YouTube channel. In this conversation, Jaspreet and Steven discuss topics such as, the impact of spending more than you earn, how to clear credit card debt, why you shouldn’t buy a house, and the 75/15/10 plan to become rich. (00:00) Intro (02:14) Who Should Care About Jaspreet's Message And Why? (03:21) Figuring Out Wealth: Key Differences Between The Wealthy And Everyone Else (08:11) Jaspreet's "Penny Drop" Moment: When It All Made Sense (13:03) Lessons From Starting Early In Business (17:48) Should You Buy A House Or Rent? (24:20) Understanding Opportunity Cost In Financial Decisions (26:28) Is Rent Really Throwing Money Away? (28:13) How To Know If You Can Afford A House (30:59) Do You Know What You're Really Spending? (32:51) Showing Wealth vs. Hiding Wealth: Which Is Better? (38:04) How To Stop Living Paycheck To Paycheck (44:20) Why Sacrificing Can Be So Hard (47:12) Life Struggles And Reckless Financial Decisions (50:17) Jaspreet's Thoughts On Cryptocurrency (55:52) Developing A Money Mindset For Success (59:45) Negative Stereotypes That Hold Us Back From Achieving Success (01:03:05) The "9 Dots" Trivia: Thinking Outside The Box (01:08:50) Facing Barriers On The Path To Financial Freedom (01:11:14) Escaping Financial Barriers: Actionable Steps (01:13:36) Do You Need To Remind Yourself Of Your Mantra? (01:16:34) Money Is A Tool: What Does That Really Mean? (01:20:37) Why It's Important To Recognize Abundant Financial Opportunities (01:22:50) Why It's Your Duty To Become Wealthy (01:23:56) Should We Change Our Investments With Trump In Power? (01:27:50) How To Get Started With Real Estate Investing (01:30:12) Jaspreet's Best Investment Ever (01:35:03) Choosing The Right People: Steve Jobs' Valuable Lesson (01:43:29) The Power Of An Internal Locus Of Control (01:50:18) Elon Musk's Tax Efficiency And Loaning Against Assets (01:54:47) Understanding The Retirement Crisis (01:56:23) How Much Money Do You Really Need To Retire? (02:02:24) Solutions To The Retirement Crisis (02:10:31) Principles For Success In Business (02:15:26) Be Boring And Patient: The Key To Winning In The Money Game (02:19:52) Best Places To Gain Knowledge And Skills (02:21:42) What's The Most Important Thing We Didn't Discuss Today? (02:22:52) The Last Guest Question Follow Jaspreet: Instagram - https://g2ul0.app.link/UZG34SJiGOb Twitter - https://g2ul0.app.link/32z1S6LiGOb YouTube - https://g2ul0.app.link/G33HmeOiGOb 🚀 The 1% Diary is live - and it won’t be around for long, so act fast! https://bit.ly/1-Diary-Megaphone-ad-reads Watch the episodes on Youtube - https://g2ul0.app.link/DOACEpisodes Follow me: https://g2ul0.app.link/gnGqL4IsKKb Sponsors: Linkedin Ads - https://www.linkedin.com/doac24 PerfectTed - https://www.perfectted.com with code DIARY40 for 40% off Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	We have to get over these money myths that you can't build wealth if you rent where you live.
0:05.2	You can't build wealth if you don't have access to millions of dollars.
0:08.4	That's not true.
0:09.2	And there's one key think that's given much better returns than any real estate,
0:12.9	any stock, and even any cryptocryds.
0:15.3	So let's talk about the real way to build true wealth.
0:18.6	Jasprey Singh is the no-nonsense financial guru.
0:21.6	Realtor and entrepreneur.
0:22.6	Whose methods have helped millions of people solve their crippling money problems
0:26.6	and unlock financial freedom.
0:28.6	People don't like when I say this, but I don't say what I say to make friends.
0:31.6	I say what I say to help people be better with money.
0:33.6	There's a lot of people that are lacking financial education.
0:35.6	And we're taught. Study hard.
0:37.7	Get a good job.
0:38.5	And if you continue working down that path, you're going to become successful.
0:41.6	Yet most people buy a house they can't afford.
0:43.9	And statistically on living paycheck to paycheck.
0:46.8	In fact, that's 78% of Americans.
0:49.5	Because ironically, the thing that keeps so many people poor for the rest of their life is they're scared to look broke.
0:55.8	So what did they do?
0:56.6	They're driving around in nicer cars, going on better vacations, and to the nicer restaurants, but they no longer have money to save.
	...

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