7 Money Habits Keeping You Poor
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- Опубліковано 5 вер 2024
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Great video. Have you a video on building wealth without getting involved in interests and loans?
I’m poor because I’m a felon
This time last year I considered getting into index funds without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. One year down in, I truly cannot stress enough how helpful experts in this field are! Keep the videos coming jaspreet.
To be honest, I've had a hard time grasping the basics. What insights did you gain, and how are you doing it?
It’s not rocket science. I got into index funds, and ETFs, myself but wasn't getting the results I wanted the first couple of months. Got tired of taking losses and decided to seek mentorship from Jonas Herman, a certified fiduciary who helps oversee my investments and has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my investment decisions align with market dynamics for optimal profit.
@@Vikturneer That's your view. In my experience, there is no such formula, it is nearly impossible to achieve success with investing. It’s all just gambling.
I don't usually leave comments on socials but I feel compelled to. I just wanted to let you know that you’re doing a great job, Jonas. You have made a real difference in my investing journey.
Can you introduce me to Jonas? I'd love to learn more about his service.
Not once I try to become rich. I just live with in my means and live comfortably. That's all I wanted in life and been getting it all my life so far. I'm 60 so a good track record. Been debt free since I was 36. I own my own home and not once bought a brand new car. All my used cars cash only since I was 16. I have a nice emergency fund for any emergency you put out in front of me. Live with in your means, save money and you'll be OK through out your life.
Congrats!
Facts
EXACTLY, MOST THE TIME THE PEOPLE THAT ARE BROKE HAVE "CHAMPAGNE TASTE ON A BEER BUDGET"
Love your thinking and outlook in life. Wonderful to hear!
Great advice!!! I’m in same situation couldn’t agree more👍
"Millions of people pay HIM to look rich while they stay broke!" 🤯 Let that sink in
A lot of those people are actually rich but it makes sense
Especially when most of the people buying these products don’t even know who HE is.
Louie V dont depend on poor people who buy an item once in a blue. Its the rich people who actually shop there regular. So this statement makes no sense
Always great information. I wish I had cared about my finances 20 years ago. I’m headed in the right direction, but I fear I am starting too late.
Better late than never my friend. One thing for sure, you’ll be better off later if you keep at it. God bless!
The most important advice is live within your income, and thank you for your videos.
Dude I’m so glad you were on with George Kamel. Even though I’m still adamantly anti debt, you are articulating the heart of financial issues. All your videos are gold 😎👌🏾
Imagine learning this when you were 21!
As much as I love cars and I really do. There's a sense of majesty with owning one and driving one. They are without a doubts, the absolute worst thing you could possibly spend your money on.
They cost you money to buy it, they cost you interest to pay it off, it cost you money to insure it, it cost you money to run, it cost you money to fix, cost you money to maintain, and every dollar you put into it you never get back. It is beyond a depreciating asset, it's a black hole.
And to make it even worse than all of that. The dealerships treat you like pure garbage. And try to charge you a premium on the biggest depreciating asset you'll ever own in your life
Not being employed is the worst habit keeping me poor rn lol. It's tough out here.
Lets keep it real, today inflation is keeping people poor. Costs of everything is going up but the wages stay level
My parents bought a 8 bedroom mansion for less than my downpayment on a condo, it's our fault for buying coffee tho lol.
@@donwald3436Kinda. It's not our fault we don't compare to previous generations, sure. But it *is* our fault if we choose coffee over an investment into an asset with a yield that outstrips inflation.
We don't get to pick the game, but we do get to pick how well we play it.
For real
Sure inflation hurts people but so does spending money on stupid crap. Inflation is hitting me just as bad as everyone. I make 60k. I live in northern Virginia…one of the most expensive places. And I have a lot of money. Why? Because I never spend my money on stupid shit. My car is old, my clothes are old, I make my own coffee, I never buy things I don’t need except video games. Sure I can’t afford a house but I have over 200k in the bank and in precious metals. I’m 34 for reference. Been saving since I was 15.
N0 Doubt BIDENomics is a factor!
My wife and I are pretty rich and can afford a lot of that expensive stuff most folks want....
Too bad we still don't want any of it.....once you are rich, you care less to impress....
Ok, Richard
This was a great video. Please indicate the chapters if you can.
PPl needs to understand that rich people put more in their investments and spend less and poor people spend more when they invest less.
Start a small business. Vehicles used for work have huge tax deductions/write offs especially heavy weighted pickups SUV’s. Funny look at list and many family vehicles on list as well. Huge home business deductions when u operate a business from home. If you are creative you can take deductions to the max (I suggest if legal, documented and you discuss with your cpa). Oh so much more. It’s all about documentation
Always appreciate what you are doing thank you!! 🙏🏾
So many people in this comment section making excuses.... Like why even come to this video? Go back to watching cat videos.
I paid off a car then the maintenance costs wasn’t worth it. It costed more than the car was worth and I just couldn’t anymore. I wish I did not have to drive. After visiting Europe and Asia and seeing how their infrastructure is built for walking, I wish the US was like that
I don't understand why that is relevant, the maintenance cost is the price you pay to stay in the game. Car value doesn't matter, does it? Idk.
A job is great way to make a living, Invest in yourself and you'll make a fortune!
Thank you Jaspreet for all that you do. I am learning so very much and you help to encourage me to make good decisions. God bless you in all that you do.
This guy on mission✔️
So where do i go to invest my money?What company or place i go to invest my money?
Fidelity
I had to buy a new vehicle, got a 4th baby on the way, got a 2020 highlander for only 350 a month! Not too bad.
Damn good price. Congratulations on the new addition 🎉🎉🎉
You're going to in great shape.
How do, I know this?
Cause you're watching this channel
😎
84 months?
@@timg2776yep lol 😂
7yrs paying for dammi car
@@timg2776 no the loan is for 72 months but im going to have it done in 18-24
So tell me why I'm broke, I'm not doing any of these... I buy everything second or even third hand. Except for food, I'm super frugal and yet I'm still poor AF.
😂 probably bills and consumables made us broke, pay and pay
Perhaps you should do opposite of what this person is saying! Start by getting a brand new BMW! 👍
Get into sales if you can
You arent earning enough.
Do some overtime or get a second job.
Our government is keeping us poor, over worked, & broke.
We pay cash for homes and cars. We live to eat, travel, retire. We are now retired. Passive income is our income.
I would LOVE to see some content geared toward educators. Teachers (at least the ones who have remained in the profession in in spite today’s political and economic climate) do so because they love what they do and desire to have a positive impact on students. Individually negotiating significant pay raises is predominantly nonexistent. Any advice for educators who have no desire to leave their profession, but would like to build wealth more effectively?
Marry an accountant. 😊
I've ridden my bike to work every day for 13 years. Can my family afford a second car? Sure, I suppose. But it's an added unnecessary liability. Riding gives me exercise, which improves my physical and mental health... While saving money! Those would be car payments are being invested.
Lovin' the pink turban. Tight!
Yeah, it looks good with the black shirt! (I’m one of the few women watching finance UA-cam, lol)
Brilliant! Hope one day we can sit down together and make a podcast!
Like these more to the point videos. Needs chapters though.
The time is your friend and foe.
Money you saved doesn't mean you get to spend it. The father time will take all that away. Spend early but wisely.
Truck has 275k on it, kept up with the maintenance and will drive it until the wheels fall off. It's got beat up paint, but it still does all of the truck things I require of it
❤ Love this line " Use a tool which Will buy back your time"💯 Thanks
thank you
Toyota Solara is the Flex!!!🎉
Great advice, if you're young. What about those of us that are 50 or so that have lost all of our savings due to health, racked up credit card debt due to health, aren't able bodied, and live on SSDI? Tired of one trick ponies teaching the young how to become wealthy at 60 or so. Not everyone is young that is trying to set up an easy life.
Wish I would have started saving/investing when i was younger. Nobody to blame but myself!
Sounds like your time is already gone by…Don’t you want to see younger people benefit from their time rather than waste their money with nothing to show for it?
@@jiujitsustlAgony loves misery.
As a 60 year old…when younger, this information was not available ( for free) like it is today…had to go to a brick and mortar store like Edward Jones and best have some major funds…then we would have to get the newspaper every day and gawk over that information….different times ❤
@@juliegood7999 And if you didn't have the funds or even an inkling of which books gave good information (Think and Grow Rich was actually bad) you just dug a hole. My parents had wages that were below the poverty line until I was in my mid 20s, and college was starting to be expensive by that point so it wasn't in the cards for my family. I am disabled, so SSDI is my main income, which has massive restrictions on earning money that isn't stock dividends or other similar forms of income, can't even make intellectual property that isn't an immediate huge success without worrying about losing my healthcare. Once you are down it sometimes doesn't pay to try to get up unless you can fly.
I keep spending on garden soil. I just wanna garden 😢😢😢
We'll all need a garden with Jeff Bozo's satanic plan to contiune buying up farm land to create fake meat and bugs to feed Americans. He should be put in jail for even thinking this is what people that are hard working want to hear. Disgusting
Please keep pumping out these videos I need to hear this!
Many good points
Very good description why the 98% are poor. Thank you.
Anyone else going to the Spanish channel to see how the dub 'Below'?
Im fluent in spanish but I still prefer the original audio over the dub
No
I have to get my Gucci
Stop buying food! It’s a big expense!
Come on I gotta have my fried chicken 🍗😂😂😂😂😂😂
Me too. I love fried chicken!
@@diangelobarbour9367 you vil eat Z bugz
Learn to work on your cars and save a huge amount of money too.
100% truth!! I have literally saved thousands upon thousands of dollars over the course of my life by knowing how to maintain my vehicle. And no, auto mechanic is not my occupation.
Thanks for the refresher Jaspreet! I fell off last year but you reminded me of my goals and how to achieve them and make the most of my resources ❤💪🏼👍🏻👏
I enjoy watching your videos. I retired with a pension that pays one hundred percent of my final years income plus free medical insurance. I bought a home thirty-eight years ago which has increased five times the original price. I invested in various things, but would like to invest something different. I read your Market Briefs and might invest in Index Funds.
Just don't wait until 65 to live life
If you are a senior do not invest aggressively. Of course you know that.
Ss not the car, it's the driver 🙏💪
This guy is very smart Gordon Sanders
Jaspreet why do you recycle your content and points so much? I can understand here and there, but this Is a bit much
Because is trying to aquire no customers from all the people who don't know him.
Because sound financial advice doesn’t change. Most people have to hear these points over and over until it sticks. Even after understanding many don’t act, making these videos motivational. True wealth is acquired through good values and priorities, not just knowledge.
because he has to post videos every other day to stay relevant. what else could he talk about? financial literacy doesn’t change much day by day week by week so of course he’s running out of stuff to talk about. he COULD make fresh content if he talked about other topics such as fitness, lifestyle, his personal interests etc. but he’s the “money guy” to the audience at the end of the day so he’s stuck in this loop of same same same. if it ain’t broke don’t fix it
Imagine your real estate agent or financial advisor pulling up on that car😂
I cringe when I see someone roll up in an 80k car. Vast majority of the time they are brokies.
I would respect them more because they probably can actually afford it.
When I have an itch I can't get to what I do is find a stick long enough to reach
The assumption that ONLY “Poor,” “Broke,” & “Middle Class” people buy designer and luxury items while “Rich” people do not! Is 1000% false and over used!
I live in NYC, I did my whole entire life. I’ve worked in high end clothing stores in Manhattan and legitimately MOST of our customers were high earned payers and even celebrities. People say “celebrities get these clothes for free.” NO THEY DO NOT! They buy them! And the last time I checked they’re all multi millionaires.
No one teaches that in school.
True a entry level econ class would be beneficial
Crow with knife let’s goooo
New cars are a rip-off
I dont wana buy a c8 zo6 in my 60s when if i press the whole throttle my heart will fail.
Id add another "c" to the 3 "C"'s, Carry Out lol (aka eating out)
Cary out
I be honest there is no shortcuts im down 55k in options now im starting over and going to do things slow and easy. Thats why they say the turtle wins the race.
Love how people now use Inflation as an excuse, so what was the excuse before Inflation, did all these people drive old cars and not have CC debt, and save and invest, I doubt it, there was just a different reason. Just need to sit down and see where every dollar goes and how much is wasted on cc intrust and 500 channels of streaming, if you could ever be debt free except maybe your home you would really like it.
work in groups to mitigate the pain of inflation
Do you have your videos in Spanish please?
Guys guys everything is possible, I was walking on these rocks, what you need to do is to get first 100k and then everything goes like on butter.
Motivation
Plot twist : This guy is actually Mrwhosetheboss wearing a beard, changing his voice
I call my 97 Miata the "Money Mobile"
Not an accurate on buying a car in todays market (I am a salesperson)
I'm storing 40% of my income until I find an Investment vehicle that can drip a monthly income. I'm also a Herbalife Coach, 40% of Herbalife income goes to my 40% fund.
Feel like I watch the same video in different versions the last several years 😂… Love the Growth tho
I make way more money than I need ,but my problem is I get depressed ,so I’ll buy expensive things to get a dopamine boost.
A 27% APR on credit card debt, especially when most people don’t actually know what their APR is, is absolute robbery.
This sounds right . But I’ll take my chances now to get a new car. Beats being on the side of the road and spending thousands of dollars on a paid off car for years 😂. Oh yea grocery takes 60% of my check . Let’s be real. You need to
Make over 60k with no car payment and stay with your parents. Then You can come up
Huh? You can a decent used Honda or Toyota and it’ll last forever. And if groceries take 60% of your check you need a higher paying job. I do just fine a single man making 65K living alone.
@@Neekohhhh I actually said in my last sentence that you need over 65k to live comfortably
There’s only seven???
For most people. Yes.
Did the "Español" worker lose his job to AI?!!
Act your wage…..simple.
You can buy a civic for 35k and still put away money bro
Spend less than you make invest the rest.
I’m starting to wonder if jaspreet will ever tell us when he actually buys a new vehicle 😂 I know he’s itching to get out of that old Toyota but it works for the concept of his videos.
Extra Guacamole can make you broke. Everything in moderation.
You pay for someone to edit these? They just end abruptly most of the time. You might want to take some of your advice and pay someone else
🙏💯
No new content, just revise the old ones and posts them as new! Please create new content.
The CEO of Louis Vuitton is rich because he does not give his workers their share of the excess profits from the sales.
Would the workers be happy if he stops the salary in case of loss?
Why should he give ?
If he did that he wouldn’t be rich so he wouldn’t start the business in the first place. People start businesses to become rich. If that’s not going to happen they won’t start the business. They will invest elsewhere.
Will the workers halve their salary in the losing years? I thought not.
@@barrybearman3511 Owners cut pay when necessary, so it only works one way. During losses they cut workers or pay, During excess profits they give workers nothing. It's only in their benefit, never the workers.
Only Imran khan can save Pakistan
Actually, it’s Xi Jing Ping. 😂
What about Putin?
Hopeless Pakistan anyway!
🙏🙏🙏🙏
Bro, fuck it. I am investing in SPAM.
It’s time to get off the no car crap. Americans like their cars and they are going to have them. Find a new shtick. This one is getting old.
Very true and as long as your payments make sense, I drive a 2021 vw Jetta SEL purchased with only 13k miles and my payment is only $330 at 6%. I only owe $13k so I’m happy 🤷🏾
@@SteezyVon Hey, another VW owner! I had a 2012 Passat I bought new. It had been paid off for years but was falling apart. My job moved to to a different location with a big commute. I recently bought a new 2024 VW Taos.
I don’t think it’s a shtick. But totally understand. So instead sounding frustrated, you continue buying your cars. He’s just giving advice that most Americans unfortunately need. Keep doing whatever it is you’re doing as long as you’re satisfied, who cares.
@@robbiehashadenough hey! Yes I love my VW! It’s actually my second one, I had a 19 Jetta SE that got totaled and I was so upset I had to buy another one lol. Congrats on your Taos those are very nice! Maybe someday I would consider an Atlas. But the new golf GTIs are nice too!
This is nonsense 😒
Weak mentality
You are teaching people to be misers. Life is short so enjoy it. What's the point in investing and making money then dying and leaving it behind. You give some good advice but at other times you are miserly.
A person that has children and leaves them nothing, doesn't love children.
@@handleyobusiness Children need to learn the principles of life. It is not my job to make them rich. I provide for them to grow and become responsible adults.