Hi Jaspreet. You are doing a great job. I just have 2 questions. 1. It's hard to believe that 80%of people in the world's greatest Economy live pay check to pay check. What is the reason in your view? 2. When you say 6 figure salary, is that individual or family income. Is that pre or post tax income?
I'm surprised you made this video. This is a very hot topic, especially on social media. Nobody wants to admit their spending habits are poor, but rather blame salary being low. In reality, it's a combination of both and the idea of personal responsibility is something that according to some prominent political figures, "racist". I hope you don't get flak from this, but it's a great topic that deserves more attention. I'm always amazed at people who live in public housing that have iPhones.
You're absolutely right, the both status are really hard but we hustle to secure financial Independent. I'm very much in need of a financial expert/advisor that can help me grow my finance
*2021 has alot opportunities for financial growth but I advices everyone to seek a financial expert to help to achieve financial growth.* *Starting out an investment is really easy and anyone can indulge. I believe in the law of compound interest and leveraging, I operate an exclusive package and so far I have compounded alot of money with Expert Margery Gledson, I reinvest consistently with Margery Gledson a license body of a broker firm. I operate an exclusive package and so far I have compounded €99700 with just €19200.*
I retired at 52, travel the world, currently in Turkey. I live very well on less than 1% of my multi million net worth... I have a $4 umbrella in my carry on only pack:) No need to flex, I don't look rich... . Years of hard work, living below my means and investing, got me to financial independence. If Jaspreet was around when I was 20, I could have retired at 35!!
Barry, you are an inspiration. I am currently 45 with a combined (with my wife) net worth of a few million dollars. My plan is to retire at 50 and enjoy life much like you are.
@** good point. I owned a construction company in Canada. I travelled the world every year for 3-4 months from the age of 28 until retirement. Two 9 month trips at 22, and 23. I visited well over 100 countries, six continents. I love scuba diving in exotic warm seas, over 700 dives, and 15 live aboard dive boats. I was underwater diving when the tsunami hit Thailand in 2004. I did not get divorced, I did have a big house and the fancy cars- that was a waste in hindsight. I wrote over 60 articles for magazines, and lectured around the world. I have led an exciting life, and it continues every day. I am living life for me, I hope you are enjoying yours
I work at a phone company as a sales rep and I have people come in all the time trying to finance a new iPhone and most of the time they don't even ask me what the interest rate is. All they care about is the monthly payment and they don't even realize that the financing company is charging them about 40% interest. It's crazy how irresponsible some people are
@Seth Tegler yes, they want people to be in debt. For if they are in debt they are themselves setting up their life for voluntary slavery. They cannot quit their job even if they hate it. They cannot take time off even if they are sick. They can't afford anything. The way I see it is you shouldn't buy anything on payments because you haven't yet earned that money. What guarantees you that in a year or so you still have a healthy body and a stable job? So I don't have debt for that very reason.
Having a backup plan is very important for every individual in this 21st Century. With the rise and fall in the economy one should have the idea of investing in crypto currencies.
The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich.
@@bitboycrypto5370 Anyone who is not investing now is missing a great opportunity, i really fear for a future without an investment. It's just like a hopeless future.
The person who starts simply with the idea of getting rich will succeed also you must have a larger ambition,every once in a while, the market does something so stupid it scares you away.
Some things, car and a house, the average income cannot afford to buy 5 of them. It's just not feasible. At least a car can be used for profit making. Maybe a house too if you can flip it for profit. All other things that aren't essential needs, I agree with your statement.
@@akin242002 right but those are assets, not liabilities. I think with a car and a house, you have to look for the monthly payment that is 10 or 20% of your monthly... dont buy a car for $500 a month if your income is only $2000 per month, rather get a cheaper car thats only $250 or less. If you cant afford to buy a house, rent a room, try to save some money up until you can afford to make a reasonable downpayment on a house to live in... but broke people say, I make 2k a month, 500 for a car, $1200 for an apartment, 800 left for all the rest, groceries, cell phone, internet, etc... its foolish, broke people stay broke that way. Rich people once made 2k a month too, they bought a 189$ per month car, rented a room for $400 a month, use a flip phone, and pay half the internet bill of the house they live in, buy good food for groceries, and still have $500 left after all that to invest, which is going to be invisible on social media for years probably.
Jaspreet, I've finally come to the understanding that...From the time I wake up till the time I go to sleep, I am constantly bombarded by entities that want to seperate me from my money. TV commercials...radio ads. The big bill boards on the roadside, Check my mailbox it's always filled with garbage from people/companies that want my money. It's a constant assault on my wallet. Most people dont see it.
I read somewhere that one of the best things to do is unsubscribe from retailers. If you don't get those 'sale' emails you wouldn't think of buying their stuff.
If you don't watch a lot of TV skip the ads on UA-cam and have a Spotify premium account as well as avoiding the radio you don't get as many commercials and the quality of life and quality of entertainment is definitely a lot higher
This is one of the most important videos I have ever watched in my entire life! Thank God I have siblings who care about me and made me watch this! Changed my life.
I wish videos like this had been around when I was 16. I still did alright by reading books such as Rich Dad Poor Dad but man these videos are pure gold. Kids are so lucky today.
Financial education is a neglected in our society. It's nice to see good videos and channels like this one! I am also working to contribute to the lack of financial education on my channel.
I'm 44. Paid off my mortgage, have zero debt, have 60k already in my 7 yr old sons college 529 plan and I still feel like I'm broke. I learned when I was 25 DON'T LET THE THINGS THAT YOU OWN...OWN YOU!!! The key to is to save half of your paycheck. Pretend you only make 50% of what you make and live off that
I have a lot of clients in the oil field and when oil was booming the majority said I made 10k a month and I spent 10k that month. I agree we have been taught to spend. (Net-zero)
I worked in Ft Nelson for a bit (northern BC gas and oil town). People had bought houses 20 years before for 100,000, and they ended up having a 500,000 mortgage.... and then came the crash. So sad that they could have had their houses paid for long before but the beer stores, pizza places, video stores and snowmobile shops got all the money. The. Whole. Town.
Went out there (Midland/Odessa Texas) for a year and came back with more dept. now I’m making 1100ish a week and still paying off the stuff I bought while working in the oil field. Worst being this stupid ass Kirby Vacuum with all these attachments that have not been used since I bought it... I hope I’m around when time travel is possible so I can go back and slab the dumb off me.
I pray whoever reads this will be successful, keep fighting for success, the rich stay rich by spending like the poor and investing why the poor stay poor be spending like the rich yet not investing, Roar!! Invest, earn and be successful.
@AnonymousBuster Sunshine the stock market is a vast platform to invest in. It's very profitable especially when you've got a trusted professional to assist you
@@JazminBautista I've always been the only one in my family that is any good with money. I keep telling my grandparents to make more than the minimum payments on their mortage. But they won't, because then they won't get that yearly tax reduction.... Which amounts to 30% of what they paid in interest... 🤷♂️🤦♂️ But alas, I'm the youngest, so they won't listen to me. 😂😅
@@IamAcerbus Realistically ~7-8 years. Optimistically ~6 years. What about you? If you're interested, I make videos about personal finance and investing and share some bits of my journey.
My mom recently passed away a few months ago. I did things with her that I now see was toxic. Mind you, I loved her, yet I never saw it. ...when i had to cut this activity out (CASINIOS), I am not as stressed as I use to. Cutting things out and realizing I need to grow my wealth was an eye opener (loving this change). Of course, I miss and I love gambling, but realizing now I was not living up to my potential because I was spending money I could not afford to lose
Multiple income streams are great. A 6 month emergency fund and sizeable investment portfolio kicking off dividends will also help a lot! I've found my time has been more effective concentrating on advancing in my career as doubling income every few years makes a huge difference. However, I agree that that building extra income streams is very important.
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So glad we never fell into this trap or way of thinking. While all our neighbors and friends are in panic mode now, we sit here with no worries. We could lose a job and it would have no effect on our lives. It's an awesome place to be in folks...
I love your videos! I'm so happy I found you. My son is in his 20's and I've been sending him your videos. He's at such a great point in his life to get started down the right path and I love how you explain things
Due to a lot of medical issues I've never been able to save up. Finally now I am at a place where I can. I have all I need to survive and keep sane while bettering myself (financially, mentally, physically, and emotionally). I'm cooking most of my meals, do a ton of odd jobs (extra cash and making connections), and spend most of my free time exercising or reading.
THANK YOU JASPREET!! I was a Net-Zero thinker/spender. I had been watching MM videos for a few weeks before coming across this video. The first dozen videos or so I watched were definitely informative and valuable to learn about money management and how to grow wealth, but this one dropped the hammer of conviction on me and actually motivated me to take action for my future wealth. Within a week I sold my fancy Ford luxury diesel truck that I thought I was ‘affording’ the payments on, and used the equity (after making payments for a few years with an initial down payment) to buy a reliable used Toyota pickup with cloth seats. It was humbling. But now I am investing that money, previously wasted on payments, by adding to an index fund every month and saving for a real estate opportunity. And someday later in life I will walk into a Ford dealership again and buy my luxury diesel 4x4 back IN CASH. Thank you MM! Keep making vids and I’ll keep smashing 👍 33yo ~$100k income
#5 I think the best way to do well on this one is by using VALUE. You determine what the value of each item is before you buy it. If the price is more than that you don't buy it. Hey it is a fancy shirt. How often will you wear it? If the answer is once per year that shirt has very little value. If it is once a week and the shirt will last for ten years then that shirt has a lot of value. Your goal is to add value when you buy.
Money is like a pillow on your bed - ots a small part of the sleeping experience, it's not the bed itself, yet it makes sleeping much more comfortable.
Yeah I don't understand those people. I see this all the time. The worst part of it is that they make minimal money but they prefer buying nice things to flex rather than focusing on more important things like fixing their leaking roof or paying off their debt.
@@joanholladay5109 i know him,I'm 52. My net worth is closing in on 7 figures and i am 100℅ debt free, now i can retire with a pension pay of $5k and some monthly passive income from trading with Dang red.
@Taylor Annette America is the hill i die on... i came across this name Dang red, when i was really looking to start up some investments.But i wasn't given much information about him.
I just found your channel today and I have my 7yr old daughter watching your channel now. I also, liked, subscribed, hit that notification bell and shared your channel.
I was shopping in Home Depot several years ago. As I was checking out, I saw that it was pouring rain outside. They had $5 umbrellas near the checkout. I got one, still have it and use it. Also, learn how to fix and maintain things at your home, and your car. Will save you a fortune over the long run. Kill off mortgages as quickly and efficiently as possible. Do NOT carry balances on credit cards. No gambling, no strip joints. Restaurant meals and bar cocktails end up costing about 7 times what it would cost if you prepared them at home. No kidding.....take that to the bank. Or, put a little in the bank and a little more in your investment account. Don’t buy on margin.. avoid options and forex. Work hard an hustle, just like our man Jaspreet says. When you’re not sure what to do....split the difference!
DAAAYYYUUUMMNNN the first 2 points just blew my mind. I thought I was financially responsible and now I understand what I've been doing wrong for the past years. This channel is way to good!!
Dishing out some much-needed, tough financial love. All of it is completely true. Every word. Great stuff, and keep hammering away. Somebody is bound to pay attention.
I got my anti-rain umbrella for FREE at an IT conference, years ago. If you were talking about an anti-solar umbrella: I have a small wooden building that gives shade in my garden.
Today I received dividends in M1 Finance. I didn’t go out for breakfast, but invested the money in Berkshire, and two growth companies. And enjoyed my breakfast at home.
This guy is crazy! As in CRAZY FLIPPIN' AWESOME. Dude, why aren't there more legitimate education content that just straight up gets to the point and yet also explains things in an articulate and transparent way. I'm all about this and would be happy to promote this Mindset.
I'm watching this video on a $200 phone. I wish I had better knowledge of finance when i was younger but I'm starting to learn now. thank you for your videos.
People don't really understand what a "Millionaire" really is. They think it means someone making a ton of money. Most people don't understand that being a "Millionaire" means have a net value of one million dollars when counting the NET value of ALL your assets. This means you house, retirement, savings, investments... etc, AND all your liabilities. Edit: Thank you @Dakid015 for pointing out what I left out, which was very important.
@@athena3865 I tend to think it depends on the property. Is it appreciating in value? Are you buying to resell? Is it an investment property? If so, yes it's an asset. Otherwise if you're just sitting on the property and you're accumulating debt above your market value then yes it's a liability. It just depends on how things appreciate.
My wife recently saw a shiny object of a commercial for the Oral-B IO toothbrush @ $300. We did some quick conversation after that bit of awakening. That is absolutely ridiculous and when we retire, we have have to look at expenditures a lot differently.
Spending $200 on clothes can be good, depending on what and how much you bought. If you only bought 1 pair of jeans and a Gucci T-shirt, $200 is a total rip off. If you bought cart fulls of clothes at second hand shops, or bought long lasting quality clothing that you intend to keep forever, $200 isn't bad at all. Depends on how you spent it
I am so glad I saw this... my friend came over in her nice fancy car... I wanted one (I will keep driving my paid off car, until the wheels fall off)... this video got me right together, BIG THANKS Jaspreet!!!🤣
It took me over a decade to get out of Net Zero thinking. I actually thought Money Traps were working for me. Once your source of income stops reality set in. Thankfully I woke the F#€k up!! This information is spot on. Cheers
If you are in JC Penney, Macy’s etc and you already can afford the items. Take the CC for the discount and pay it off immediately, then cut the card in half and never use it again.
Very educational Jespreet! 78% were like me working my tail off to make banks and others rich. I was 36 years old when I finally saw the light. Thank you for letting people know that that can really be free of financial debt. 🙌🙌🙌🙌
I love you and I am so greatful that you are you Jaspreet. You are a real blessing. I think for some ppl you talk waaaay too fast. God bless you and Thanks so much 🙏🏼❤️🔥💎🤗
Planning and preparing your own meals is healthier anyway. My wife and I sit down every Saturday and plan our meals for the next week, then we go to the grocery store and get all the ingredients. We take turns cooking. We might go out for a meal once or twice a month. We have been doing this for 36 years.
Impressive, I realized that the secret to making a million is saving for a better investment.. I always tell myself you don’t need that new Aston Martin or that vacation in Hawaii just yet and that mindset helps me make more money investing. For example last year I invested 100grand in the S&P 500 (with the help of my advisor of course) and made 350k, but guess what? I put it back and traded with her again and now I’m rounding up close to a million. Hoping to get to 2 In 6 months time
@@robinsonbaker1963 I’m no expert but I know the market can be volatile so what they do is they have strategies in place that help them predict the market to their advantage.. it’s crazy
@@robertthurmond8161 Certainly I do but I can’t just leave her info here, just google her yourself, her full name is Lucy Maria Koss, she has a website and everything so you can reach her from there
This is the most educational and informative and holistic video of finances for young people. I'm sharing this with all my friends. Thank you for your work Jaspreet, you're really saving a lot of young folks futures.
I bought an iphone se at the apple store & people wondered why i didn’t get the newest one. I can actually afford the newest in cash (which they don’t need to know) but I honestly don’t need it. Using my phone for mainly calls & txts there was no reason for me to spend so much. A month has passed from my new phone purchase, I learned that buying what I will actually use & need was a great choice.👍😀😊😊
$400 dollars for an umbrella?!?! That umbrella better have Bluetooth and play some music and make phone calls, remote start my car, be able to lock/unlock my front door, and be made out of Kevlar fabric so that it's bullet proof and have a built in machine gun... Also waterproof of course. 🤦🏽♂️😂😂
Thank you for watching! if you enjoyed this video, you should watch - 78% Of Americans Are Broke, Here's Why: ua-cam.com/video/7MWyjGVN1kc/v-deo.html
Love every video. You break it down like no one else has. Thank you!
Hi Jaspreet. You are doing a great job. I just have 2 questions.
1. It's hard to believe that 80%of people in the world's greatest Economy live pay check to pay check. What is the reason in your view?
2. When you say 6 figure salary, is that individual or family income. Is that pre or post tax income?
Step 1. Don't have babies unless you're rich.
I'm surprised you made this video. This is a very hot topic, especially on social media. Nobody wants to admit their spending habits are poor, but rather blame salary being low. In reality, it's a combination of both and the idea of personal responsibility is something that according to some prominent political figures, "racist". I hope you don't get flak from this, but it's a great topic that deserves more attention. I'm always amazed at people who live in public housing that have iPhones.
Thank you Jaspreet. You are just awesome!!
I love the phrase, “Being broke is hard. Getting rich is hard. Pick your hard.”
damn, thats a gem
You're absolutely right, the both status are really hard but we hustle to secure financial Independent.
I'm very much in need of a financial expert/advisor that can help me grow my finance
*I don't know who needs to hear this, but I do believe someone needs to know this.* 👇
*2021 has alot opportunities for financial growth but I advices everyone to seek a financial expert to help to achieve financial growth.*
*Starting out an investment is really easy and anyone can indulge. I believe in the law of compound interest and leveraging, I operate an exclusive package and so far I have compounded alot of money with Expert Margery Gledson, I reinvest consistently with Margery Gledson a license body of a broker firm. I operate an exclusive package and so far I have compounded €99700 with just €19200.*
🏴 *4 4 ( 7 3 9)- 9 8 3 1 7 7 1.*
This has quickly become one of my favorite finance channels on UA-cam
It’s the best
It’s true
Jaspreet is the truth!
And that bit that he mentioned about IG is so true. That place is a cesspool of liabilities lol
I like how he says "below" lol
I retired at 52, travel the world, currently in Turkey. I live very well on less than 1% of my multi million net worth... I have a $4 umbrella in my carry on only pack:) No need to flex, I don't look rich... . Years of hard work, living below my means and investing, got me to financial independence. If Jaspreet was around when I was 20, I could have retired at 35!!
Barry, you are an inspiration. I am currently 45 with a combined (with my wife) net worth of a few million dollars. My plan is to retire at 50 and enjoy life much like you are.
@@TheAbsoluteZxero How many of us need to report him before this fake account actually gets blocked?
@@iloveprivacy8167 Good question. I spent some time trolling him for awhile
@** good point. I owned a construction company in Canada. I travelled the world every year for 3-4 months from the age of 28 until retirement. Two 9 month trips at 22, and 23. I visited well over 100 countries, six continents. I love scuba diving in exotic warm seas, over 700 dives, and 15 live aboard dive boats. I was underwater diving when the tsunami hit Thailand in 2004. I did not get divorced, I did have a big house and the fancy cars- that was a waste in hindsight. I wrote over 60 articles for magazines, and lectured around the world. I have led an exciting life, and it continues every day. I am living life for me, I hope you are enjoying yours
@barry that’s amazing! Enjoy life my friend. You deserve it. Be blessed!
The people who need this advice dont watch, and those who watch already know
Our job to teach the people close to us. However I usually get the. I live for today, enjoy it while you can or YOLO statements.
@@Alumnikiid it is sad because it is true. 😥
True...buts it's great to be reminded constantly..
So true.
That's the stone cold truth, Ruth!!
I work at a phone company as a sales rep and I have people come in all the time trying to finance a new iPhone and most of the time they don't even ask me what the interest rate is. All they care about is the monthly payment and they don't even realize that the financing company is charging them about 40% interest. It's crazy how irresponsible some people are
Hahahahaha this isn't even considered irresponsible. I would call this pure ignorance.
Now people are financing clothes and skincare/ makeup too. 🤦🏾♀️
@Seth Tegler yes, they want people to be in debt. For if they are in debt they are themselves setting up their life for voluntary slavery. They cannot quit their job even if they hate it. They cannot take time off even if they are sick. They can't afford anything. The way I see it is you shouldn't buy anything on payments because you haven't yet earned that money. What guarantees you that in a year or so you still have a healthy body and a stable job? So I don't have debt for that very reason.
Uneducated. It's almost religious how people spend to consume without thinking
@Seth Tegler yep so true
*Warren Buffett once said “If you don't find a way to make money while you sleep, you will work until you die.”*
Having a backup plan is very important for every individual in this 21st Century. With the rise and fall in the economy one should have the idea of investing in crypto currencies.
Wise spending is part of wise investing. And it’s never too late to start.
The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich.
@@bitboycrypto5370 Anyone who is not investing now is missing a great opportunity, i really fear for a future without an investment. It's just like a hopeless future.
The person who starts simply with the idea of getting rich will succeed also you must have a larger ambition,every once in a while, the market does something so stupid it scares you away.
"Everybody in the world is after your money." Check.
That's not true
I have a book that explains why
Rich People : I can't afford it.
Broke People : My next 12 months of salary can afford this, that's why I'm going to pay it off in 24 months.
This...lots of people will screech on about income inequality yet ignore the fact that many people are broke by choice. Mainly their bad ones.
Some things, car and a house, the average income cannot afford to buy 5 of them. It's just not feasible. At least a car can be used for profit making. Maybe a house too if you can flip it for profit.
All other things that aren't essential needs, I agree with your statement.
Rich people little while later: How can I afford it?
@@akin242002 Well he did mention that this was for stuff that wasn't essential for survival. Especially when it comes to financing.
@@akin242002 right but those are assets, not liabilities. I think with a car and a house, you have to look for the monthly payment that is 10 or 20% of your monthly... dont buy a car for $500 a month if your income is only $2000 per month, rather get a cheaper car thats only $250 or less. If you cant afford to buy a house, rent a room, try to save some money up until you can afford to make a reasonable downpayment on a house to live in... but broke people say, I make 2k a month, 500 for a car, $1200 for an apartment, 800 left for all the rest, groceries, cell phone, internet, etc... its foolish, broke people stay broke that way. Rich people once made 2k a month too, they bought a 189$ per month car, rented a room for $400 a month, use a flip phone, and pay half the internet bill of the house they live in, buy good food for groceries, and still have $500 left after all that to invest, which is going to be invisible on social media for years probably.
Jaspreet, I've finally come to the understanding that...From the time I wake up till the time I go to sleep, I am constantly bombarded by entities that want to seperate me from my money. TV commercials...radio ads. The big bill boards on the roadside, Check my mailbox it's always filled with garbage from people/companies that want my money. It's a constant assault on my wallet. Most people dont see it.
@Seth Tegler Yes the United States is such a horrible country...right?
I read somewhere that one of the best things to do is unsubscribe from retailers. If you don't get those 'sale' emails you wouldn't think of buying their stuff.
If you don't watch a lot of TV skip the ads on UA-cam and have a Spotify premium account as well as avoiding the radio you don't get as many commercials and the quality of life and quality of entertainment is definitely a lot higher
It's good that most people don't see it. We can use them to fund our increasing 🤑
"Instagram is for people who compete to be bankrupt first due to fake flexing" - Minority Mindset
Entrepreneur is not for everyone. But building wealth is.
👏👏👏
🙋🏻♀️
This is one of the most important videos I have ever watched in my entire life! Thank God I have siblings who care about me and made me watch this! Changed my life.
I wish videos like this had been around when I was 16. I still did alright by reading books such as Rich Dad Poor Dad but man these videos are pure gold. Kids are so lucky today.
Financial education is a neglected in our society. It's nice to see good videos and channels like this one! I am also working to contribute to the lack of financial education on my channel.
Me to
Really and truly
Ronald Dahl was great
Kids don't watch this stuff
I'm 44. Paid off my mortgage, have zero debt, have 60k already in my 7 yr old sons college 529 plan and I still feel like I'm broke. I learned when I was 25 DON'T LET THE THINGS THAT YOU OWN...OWN YOU!!! The key to is to save half of your paycheck. Pretend you only make 50% of what you make and live off that
I have a lot of clients in the oil field and when oil was booming the majority said I made 10k a month and I spent 10k that month. I agree we have been taught to spend. (Net-zero)
I worked in Ft Nelson for a bit (northern BC gas and oil town). People had bought houses 20 years before for 100,000, and they ended up having a 500,000 mortgage.... and then came the crash. So sad that they could have had their houses paid for long before but the beer stores, pizza places, video stores and snowmobile shops got all the money. The. Whole. Town.
Went out there (Midland/Odessa Texas) for a year and came back with more dept. now I’m making 1100ish a week and still paying off the stuff I bought while working in the oil field. Worst being this stupid ass Kirby Vacuum with all these attachments that have not been used since I bought it... I hope I’m around when time travel is possible so I can go back and slab the dumb off me.
Whether 10k a day or 1$ a day we still spend it. The question is - how and where which actually makes the difference.
@@jorgewuzhear Kirby salesmen are the devil in diguise
You should say make 10 g a week and spend 11 k a week
I paid off over $7000 just this year since I wasn't driving around. I'm down to under $8100 on 1 card to pay.
Good for you mate!
@@javiermendoza5173 thanks
Hell yeah!
Use Dm Adams for help *+ 1 7 0 1 5 8 7 2 3 1 3*
Nice work! Once you get it paid off, never go back into debt again and start building that wealth my friend.
I pray whoever reads this will be successful, keep fighting for success, the rich stay rich by spending like the poor and investing why the poor stay poor be spending like the rich yet not investing, Roar!! Invest, earn and be successful.
Having a stable investment package keeps you financially stable!
@AnonymousBuster Sunshine the stock market is a vast platform to invest in. It's very profitable especially when you've got a trusted professional to assist you
I'm interested in this stock market but I don't know how to come about it . Any advice ??
I've got over £100k to invest in cause a lot of my friends are benefiting greatly from stock market and I want to convert my account to millions
I strongly believe that investing is key in any man's life
If you buy things you don't need today, soon you have to sell the things you need.
- Warren Buffet
Money is a tool. And I intend to use it to free myself.
That's the best way to think about it. I am working towards financial independence too! I about 5 years in and 25% of the way there. Best wishes!
YESS
@@nickdoyle-achievefinancial2464 Nice, how long do you estimate it will take at your current pace? Optimistically vs. Realistically?
@@JazminBautista I've always been the only one in my family that is any good with money. I keep telling my grandparents to make more than the minimum payments on their mortage. But they won't, because then they won't get that yearly tax reduction.... Which amounts to 30% of what they paid in interest... 🤷♂️🤦♂️ But alas, I'm the youngest, so they won't listen to me. 😂😅
@@IamAcerbus Realistically ~7-8 years. Optimistically ~6 years. What about you? If you're interested, I make videos about personal finance and investing and share some bits of my journey.
Perfect timing with this video because social media have people going in debt to upkeep a persona
@MINORITY MINDSET You’re not Jaspreet
Your channel is so underrated! You content need more exposure! sharing with my friends
My mom recently passed away a few months ago. I did things with her that I now see was toxic. Mind you, I loved her, yet I never saw it.
...when i had to cut this activity out (CASINIOS), I am not as stressed as I use to. Cutting things out and realizing I need to grow my wealth was an eye opener (loving this change). Of course, I miss and I love gambling, but realizing now I was not living up to my potential because I was spending money I could not afford to lose
Be strong. Lost my father this year. Positive thoughts your way.
I'm going to start having my children watch this channel. He has a great away explaining financial concepts.
A lesson that I learned from getting laid off:👇
Having only one income stream can be very dangerous. Build multiple income streams.
I'm Subscribing you on UA-cam... Thank's.
Multiple income streams are great. A 6 month emergency fund and sizeable investment portfolio kicking off dividends will also help a lot! I've found my time has been more effective concentrating on advancing in my career as doubling income every few years makes a huge difference. However, I agree that that building extra income streams is very important.
That’s definitely an advantage to being married to a spouse that has a good job.
You have become one of my favorite UA-camr. The best about your advises is that you truly say the reality out loud. You're a great advisor. Thank you
Crypto Investment is the most profitable Investment with high returns of profits.
WRITE MY MANAGER MRS JENITA ON WHAT SAPP TO MAKE GREAT PROFIT IN BITCOIN
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Do well to tell her I reffered you to her,her strategies are top notch 🇱🇷🇱🇷🇱🇷☑️✅
Love this guy, straight shooter. That's the kind of advice we need.
Great video! Wish that I knew all this when I was in my 20's. I just forwarded it to my nephew who's in his twenties. 😀
Just because someone has something doesn’t mean they can afford it...TRUTH 🙌
So glad we never fell into this trap or way of thinking. While all our neighbors and friends are in panic mode now, we sit here with no worries. We could lose a job and it would have no effect on our lives. It's an awesome place to be in folks...
Yes!! We're in the same position. We could stop working today and be fine for a number of years.
I love your videos! I'm so happy I found you. My son is in his 20's and I've been sending him your videos. He's at such a great point in his life to get started down the right path and I love how you explain things
You can write to Chris vandernaald on telegram with Chris_vandernaald to guide you.
Use Dm Adams for help *+ 1 7 0 1 5 8 7 2 3 1 3*
I hope yours listens more than mine does. I've tried so hard but it just doesn't work. I feel sick seeing so much money wasted.
@@Chahlie I just keep sending him these videos over and over an try to talk about how fun it is to watch your 100 dollars make babies :)
Great video! I sent it to a young person I know. I hope she watches it. This should be core curriculum in schools.
Core curriculum at home... 💯
He's saying things we all know deep down, but we need a coach to encourage us to delay gratification.
Due to a lot of medical issues I've never been able to save up. Finally now I am at a place where I can. I have all I need to survive and keep sane while bettering myself (financially, mentally, physically, and emotionally). I'm cooking most of my meals, do a ton of odd jobs (extra cash and making connections), and spend most of my free time exercising or reading.
The money trap thing was the realest shit i ever heard fr. This is an awesome video man. Love your lessons
BELOW!
Very nice! Materialism runs rampant and keeps people from moving up.
One of the best videos yet. Must watch!
THANK YOU JASPREET!!
I was a Net-Zero thinker/spender.
I had been watching MM videos for a few weeks before coming across this video. The first dozen videos or so I watched were definitely informative and valuable to learn about money management and how to grow wealth, but this one dropped the hammer of conviction on me and actually motivated me to take action for my future wealth. Within a week I sold my fancy Ford luxury diesel truck that I thought I was ‘affording’ the payments on, and used the equity (after making payments for a few years with an initial down payment) to buy a reliable used Toyota pickup with cloth seats. It was humbling. But now I am investing that money, previously wasted on payments, by adding to an index fund every month and saving for a real estate opportunity.
And someday later in life I will walk into a Ford dealership again and buy my luxury diesel 4x4 back IN CASH.
Thank you MM!
Keep making vids and I’ll keep smashing 👍
33yo ~$100k income
You drop serious knowledge and your blessings will be more valuable than coins☺️ thanks
#5 I think the best way to do well on this one is by using VALUE. You determine what the value of each item is before you buy it. If the price is more than that you don't buy it.
Hey it is a fancy shirt. How often will you wear it? If the answer is once per year that shirt has very little value. If it is once a week and the shirt will last for ten years then that shirt has a lot of value.
Your goal is to add value when you buy.
Money is like a pillow on your bed - ots a small part of the sleeping experience, it's not the bed itself, yet it makes sleeping much more comfortable.
@MINORITY MINDSET fake ass account
@@prongsbay3981 It takes a lot of chutzpah to not just run a scam on Jaspreet's vid, but to impersonate him too!
you're now my financial advisor, a parent , and a teacher... I subed and not regretting
"...that is Net Zero thinking, on steroids!" 😂😂😂 Jaspreet, you hit me in my funny bone! Hilarious.
Where have you been all my life?! SUBSCRIBED!!
*I see people fake flexing all the time!*
Why do you want to buy things you don't need to impress people you don't even like?? 🤔🤔
Yeah I don't understand those people. I see this all the time. The worst part of it is that they make minimal money but they prefer buying nice things to flex rather than focusing on more important things like fixing their leaking roof or paying off their debt.
You could at least quote the movie where you took it from... Wait a minute... You didn't want to speak about it, did you ?
Shhhh we don't speak of fight club
Status symbols seem to be very important to most people. They'd rather flex than be financially secure. It boggles my mind!
@@emptystuff1593 the quote is older than that movie, after a quick research is from an article of 1928.
The BEST intro music on UA-cam!
...Oh, and the financial information is great too (after I LOOP the intro for 5-minutes! 🤣)
PROPS, Jaspreet!
Very engaging video from beginning to end apparently my view on the solution is to venture into business
My investments in stock and Gold are really given the current increase.
Mr Dang red has changed my financial status for the best.
@@joanholladay5109 i know him,I'm 52. My net worth is closing in on 7 figures and i am 100℅ debt free, now i can retire with a pension pay of $5k and some monthly passive income from trading with Dang red.
@Taylor Annette America is the hill i die on... i came across this name Dang red, when i was really looking to start up some investments.But i wasn't given much information about him.
Dang red is very sound in analysis and his service delivery is superb. I'm so greateful to him for his assistance which has made me a better trader.
I just found your channel today and I have my 7yr old daughter watching your channel now. I also, liked, subscribed, hit that notification bell and shared your channel.
Life lessons teach you these things anyway,. But having videos like this, helps wake me up ! What a great personality - makes for a good teacher 😃
I got a free umbrella from work 5 years ago and i still use it. Cause it’s fine.
I was shopping in Home Depot several years ago. As I was checking out, I saw that it was pouring rain outside. They had $5 umbrellas near the checkout. I got one, still have it and use it. Also, learn how to fix and maintain things at your home, and your car. Will save you a fortune over the long run. Kill off mortgages as quickly and efficiently as possible. Do NOT carry balances on credit cards. No gambling, no strip joints. Restaurant meals and bar cocktails end up costing about 7 times what it would cost if you prepared them at home. No kidding.....take that to the bank. Or, put a little in the bank and a little more in your investment account. Don’t buy on margin.. avoid options and forex. Work hard an hustle, just like our man Jaspreet says. When you’re not sure what to do....split the difference!
DAAAYYYUUUMMNNN the first 2 points just blew my mind. I thought I was financially responsible and now I understand what I've been doing wrong for the past years. This channel is way to good!!
I am sharing this with my adult kids!
I have also shared with my adult kids. Very good summary how to safe money.
Dishing out some much-needed, tough financial love. All of it is completely true. Every word. Great stuff, and keep hammering away. Somebody is bound to pay attention.
Rule of 5. I've been saving to buy whatever I want when I can afford 2 of them. I'm gonna try the 5. After seeing this
Wow. You are the best on UA-cam. I love you for this !!!! Knowledge is power. !!
I love the rule of five! I’ve never heard of it before. Lookie there, I learned something. Nice.
I got my anti-rain umbrella for FREE at an IT conference, years ago. If you were talking about an anti-solar umbrella: I have a small wooden building that gives shade in my garden.
Today I received dividends in M1 Finance. I didn’t go out for breakfast, but invested the money in Berkshire, and two growth companies. And enjoyed my breakfast at home.
@MINORITY MINDSET You’re not Jaspreet
This is a God send for me bro. Great work, I'm learning alot and now can get my life in order! Blessings
Well done Jaspreet for another great video... I will recommend this channel to my friends now.
@MINORITY MINDSET You’re not Jaspreet
This guy is crazy! As in CRAZY FLIPPIN' AWESOME. Dude, why aren't there more legitimate education content that just straight up gets to the point and yet also explains things in an articulate and transparent way. I'm all about this and would be happy to promote this Mindset.
I'm from the Caribbean and all these points refer to us as well.
@MINORITY MINDSET You’re not Jaspreet
Feel free to write Chris vandernaald on telegram with Chris_vandernaald
I watch all your vids since I discovered your channel. But this is by far the best video you have put out! This needs to go viral.
I'm watching this video on a $200 phone. I wish I had better knowledge of finance when i was younger but I'm starting to learn now. thank you for your videos.
@MINORITY MINDSET You’re not Jaspreet
People don't really understand what a "Millionaire" really is. They think it means someone making a ton of money. Most people don't understand that being a "Millionaire" means have a net value of one million dollars when counting the NET value of ALL your assets. This means you house, retirement, savings, investments... etc, AND all your liabilities.
Edit: Thank you @Dakid015 for pointing out what I left out, which was very important.
@MINORITY MINDSET You’re not Jaspreet
Exactly this! People miss the key difference between income and wealth. I made a similar video to this on building wealth.
AND after accounting for all your liabilities!
Having a house is actually a liability. I didn't know this until I checked with my bank. I got rid of my house.
@@athena3865 I tend to think it depends on the property. Is it appreciating in value? Are you buying to resell? Is it an investment property? If so, yes it's an asset. Otherwise if you're just sitting on the property and you're accumulating debt above your market value then yes it's a liability. It just depends on how things appreciate.
Nice teaching,keep it up.
Great Video, first time I’ve heard “Henry” that’s SPOT ON - FAKE FLEX😂
These videos are addictive! Truthful information!
This and the Dave Ramsey show are my favorite financial films
Just paid off one of my student loans today!! 🥳🥳 financial freedom is coming! 🤩 thanks jaspreet!
Another beautiful vid by Jaspreet and the team! Love this! thanks!
My wife recently saw a shiny object of a commercial for the Oral-B IO toothbrush @ $300. We did some quick conversation after that bit of awakening. That is absolutely ridiculous and when we retire, we have have to look at expenditures a lot differently.
I stumbled on this video after having just spent $200 on clothes and feeling very lectured right now 😂😔
Spending $200 on clothes can be good, depending on what and how much you bought. If you only bought 1 pair of jeans and a Gucci T-shirt, $200 is a total rip off. If you bought cart fulls of clothes at second hand shops, or bought long lasting quality clothing that you intend to keep forever, $200 isn't bad at all. Depends on how you spent it
I am so glad I saw this... my friend came over in her nice fancy car... I wanted one (I will keep driving my paid off car, until the wheels fall off)... this video got me right together, BIG THANKS Jaspreet!!!🤣
"I bet you think this vid is about you. Don't you? Don't you?"
Great to get videos like this. General education or 101 videos are the best.
It took me over a decade to get out of Net Zero thinking. I actually thought Money Traps were working for me. Once your source of income stops reality set in. Thankfully I woke the F#€k up!! This information is spot on. Cheers
If you are in JC Penney, Macy’s etc and you already can afford the items. Take the CC for the discount and pay it off immediately, then cut the card in half and never use it again.
Very educational Jespreet! 78% were like me working my tail off to make banks and others rich. I was 36 years old when I finally saw the light. Thank you for letting people know that that can really be free of financial debt. 🙌🙌🙌🙌
I love you and I am so greatful that you are you Jaspreet. You are a real blessing. I think for some ppl you talk waaaay too fast. God bless you and Thanks so much 🙏🏼❤️🔥💎🤗
I realized eating out everyday is too expensive. According to the 5-1 rule, I can’t afford it. Brown bagging it from now on.
Planning and preparing your own meals is healthier anyway. My wife and I sit down every Saturday and plan our meals for the next week, then we go to the grocery store and get all the ingredients. We take turns cooking. We might go out for a meal once or twice a month. We have been doing this for 36 years.
Jaspreet... Thank you for good info ... Truth... Simple plain truth.
A sure way to be a part of the rich statistics is to go through life buying assets not liabilities. Great vid! You have shot past 700k subs!
👌👌
Great video
Impressive, I realized that the secret to making a million is saving for a better investment.. I always tell myself you don’t need that new Aston Martin or that vacation in Hawaii just yet and that mindset helps me make more money investing. For example last year I invested 100grand in the S&P 500 (with the help of my advisor of course) and made 350k, but guess what? I put it back and traded with her again and now I’m rounding up close to a million. Hoping to get to 2 In 6 months time
Wow, great work. I hear it’s best to buy when stocks are on a decline, if that’s true how do financial advisors know the right stock to pick?
@@robinsonbaker1963 I’m no expert but I know the market can be volatile so what they do is they have strategies in place that help them predict the market to their advantage.. it’s crazy
@@robertthurmond8161 Certainly I do but I can’t just leave her info here, just google her yourself, her full name is Lucy Maria Koss, she has a website and everything so you can reach her from there
Is this fir real?
@@dracoreptox4380 scams.
Brother!!! You are so much more intelligent than the other channels I viewed on UA-cam. Thank you for not making this boring.
This is the most educational and informative and holistic video of finances for young people. I'm sharing this with all my friends. Thank you for your work Jaspreet, you're really saving a lot of young folks futures.
Your channel has blessed me in ways i never thought possible.
I find that if one values money, wealth, and compound interest it's easy to be smart with money. That comes through understanding
@MINORITY MINDSET You’re not Jaspreet
Thanks Jaspreet, your every word is worth a million.
If I was a high school teacher. These videos would be mandatory.
Great video that I had to watch multiple times! Thanks!!!
Jaspreet really putting a lot of people in a reality check
I can't even stress how accurate/well explained this video is 💯💯💯. Maybe a collab w Graham Stephan, Meet Kevin, or Andrei Jikh in the future?
I can't help but suspect Jaspreet really likes Chipotle.
Chipotle is great.
He likes guacamole
No it’s curry!
I bought an iphone se at the apple store & people wondered why i didn’t get the newest one.
I can actually afford the newest in cash (which they don’t need to know) but I honestly don’t need it.
Using my phone for mainly calls & txts there was no reason for me to spend so much.
A month has passed from my new phone purchase, I learned that buying what I will actually use & need was a great choice.👍😀😊😊
I googled expensive umbrellas. Now I want a $500 Imported, Silver-toned, and Buffed leather Burberry one.
😂😂😂
I have a Chanel umbrella, lol.
If you can't buy five of them, you can't afford one of them. If you can, go for it I guess
If we think money is a tool than ev1 will be financial wise
i have heard this wisdom all my life.. time to apply
$400 dollars for an umbrella?!?!
That umbrella better have Bluetooth and play some music and make phone calls, remote start my car, be able to lock/unlock my front door, and be made out of Kevlar fabric so that it's bullet proof and have a built in machine gun...
Also waterproof of course. 🤦🏽♂️😂😂
This guy trying to go after Batman
Hey is your avatar pic the blue guy from Buck Roger?
Hahahaha..........
That’s why I got a $400 umbrella 50% off 🤣 look for deals people!!!
@@vinchel118 yes!
I'm a very late to your channel but I subscribed a week ago and I just want to say THANK YOU SIR!!!💯👑🖤💪🏿
I live in a 80 year old house that is paid for, my cell is an Apple 6