How To ACTUALLY Earn Passive Income So You Never Have To Work Again
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- Опубліковано 13 жов 2024
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What Is The Minority Mindset?
"The Minority Mindset has nothing to do with the way you look. It's the mindset of thinking differently than the majority of people" ~Jaspreet Singh
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Video host: Jaspreet Singh
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DISCLAIMER CONT'D: I'm just a random guy on UA-cam so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
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WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS!
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As an avid learner of your content, I never paid attention to it but how can you hear with ears covered so tightly, doesn't it impair you from driving?
At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Melissa Terri Swayne is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Your seminars are so full of sensible info. They should teach this in schools.
Jaspreet, I’m speechless on how much you kept my mind busy in the past weeks. Downloaded your ebook, read rich dad poor dad twice and still hungry for more, put a plan for my finances, was able to save my first $5k, research now the options of funds and etfs to start investing regularly and trying to figure out how to get into real estate investment. Much respect and I’ll looking forward to more guidance through your videos and of course many other sources (to not blindly trust a random guy on UA-cam 😂). Thanks a lot again 🙏🏽
Jaspreet, you have changed my life for the better! Thank you and your team for all your videos!!! I have been watching since you had under 100k subs... er.. around there anyway. 75,15,10 has helped me big time.
🙏🙏🙏
It has helped me as well. Having automations and different bank accounts has changed my finances for the better. And learned more money finance skills
Best Financial Teacher On YT. Thank You For What You Do.
Very clear, precise, easy-to-understand explanations! Thank you!
It's tougher to invest from a small amount like ten gran for 10 yrs when you are 60 yrs old and have very little money. One might not live 10 years, especially starting at 60. But younger folks, it's a big opportunity to start now,especially people 25 yrs old and younger, if they learn this mindset now.
What about those who are in their 30s is it too late for them ?
Watch the video Jaspreet did on what to do if you're 30 with no financial base yet. @fabiopovelution7639
I am 25 and thanks! You're right, since I've already started I'm on the right track 😊
@@fabiopovelution7639no it's never too late. Learn about selling opinions. Educate yourself, you'll quickly learn it's a money printer. It's better than learning how to play video games.
50s and no "extra" cash for any investing. Have to have money to make money.
Absolutely! Passive income is a fantastic way to build wealth and financial stability. It involves earning money with minimal effort or active involvement once the initial setup is done. Examples of passive income include rental income, dividends from investments, royalties from creative work, and affiliate marketing. It's a great way to supplement your earnings and work towards financial independence.
YOu are the only binge worthy financial channel. bro. Keep it up. And thanks for the amazing course too.
Most shouldn’t invest in individual companies… unless that company is Nvidia.
Nvidia TSLA AMD
Tsla...NO😮
@@davidbrooks8809 absolutely TSLA only company making profit in EV field and it's vehicular autonomy is ages ahead of any competitors
I invest in Berkshire and Amazon😊
@@davidbrooks8809What’s wrong with TSLA?
My man always informative. I trust your advice about 90% cause you always say don't trust a random guy on UA-cam 😅
Your generosity by sharing this information with anyone who is willing to listen to you is that door that is open for many people, particularly immigrants
Great video! I like accumulating REITS, nice and slow but over the years, looking back, I'm not mad at myself.
My wife did MLM. The passive income reached a huge $1.67 per month. I signed up for my employee stock purchase program, then sold it in the tech bubble. Bought oil stocks during the pandemic. My current dividend rate is $13,288 annually. I reinvest this to grow the dividend snowball. Save dividends when the market is high and buy stocks when they are low. Bought ocean shipping stocks last fall when they dipped,. Now that stock is over double what I paid for it. MLM is not a way to get passive income. It is an expense to keep the business afloat.
Jaspreet, changed my mindset. Since i watch all his videos, only focusing on educating myself to insvest
First, thank you. I am 52 yrs old and now looking to invest in something, maybe real estate or stocks. I live in san antonio, tx. I just put an llc together and started looking for passive income, and you have great information. Just little insite I applied what I have learned from you and others I listen to and have had freat results. we are off to a great start, so thank you, and a big hug for sharing what you have learned. I share your information. Thank you, JUAN
I researched that as a Canadian you gotta pay currency exchange and 15% Taxes to the government when you sell or release your US investment in canada so, how’s it worth for us as a Cad to invest in the US MARKET?? please show me the right path
Yes, it’s almost true but there are a few ways around it. One of the simpler methods is to use a finance expert in the US. They’re often more affordable than you might expect, have a better grasp of the local markets, and know their way around the taxes better. If all these are done right, because of the strong economy, you'd end up making some money. I’m based in Australia and have been investing in the American market for a while now, and it’s been a great experience so far. Best of luck!
Thanks man. Please how can I get a good one in the US or rather, how did you get yours?
A Google search is enough but ensure you look out for those from known firms and good track records. You should also make sure the person is licensed.
Personally, I use Michael, Allen Eckrich. He's good and you could also look him up.
Wow! Small world. I work with him too but I'm American. Nice and soft spoken man
Another video filled with great information. Thanks Jaspreet
Many dividends stocks are divided traps so be careful
Own SPYI or BIL
Yieldmax funds also and FEPI is good!
a few other good dividend stocks to consider Ford, Wendys, Walmart, Philip morris (tabacco)
One can pretty much count on forced appreciation. If the numbers are crunched correctly, it's not really speculation.
Thank you for sharing your knowledge. Im learning a lot. You are changing my life. South Africa loves you!
Best video that makes sense to me for investing! THANK YOU, Jaspreet❤
Thank you for making financial concepts mentally digestible.
Question:
From age 0-34, I rented, owned nothing, no stocks, or diversified portfolio, $140k+ in debt, no free time.
From age 34 and now age 35, I purchased a home, lost my job shortly after (on purpose), started a business, I have savings, a stock portfolio, silver, zero debt (well, I am paying a no interest CC on my mower and couch), and I have so much free time to vacation and venture into other businesses.
Is my home still considered a liability, if I have no debt, I repair all my vehicles, i repair everything in my home, and I was only able to start my business that has kept me afloat since January 2024 since purchasing a home? If that does not make sense, what I am trying to say is, I have made more money owning a home, than my entire previous 34 years of life.
I am aware of my interest rate, and all my money is going towards interest, right now. But I would have no space to repair and/or park an F350 Dually, trailer, skid steer, etc at an apartment. And if I were to pay for storage, thats more money being thrown out with no return.
Minority Mindset Forever! 🎊
Great advice assuming you have good health and the market does not collapse! 😊
Also assuming a astroid is not going to come and wipe us out
My investments didn’t do much the first few years and now they are in the stage where they are making peanuts. 😂 Jaspreet you are right on the money! Thanks for the reassurance!
Thank you for all your advice
How does inflation come into play into this 10 year plan? Because certainly $10 dollars today isn't the same as 10 years from now.
The key here is long term. People nowadays just see the short term and are put off. Always chasing those get rich quick schemes
I would probably be making $250 a month, but I always reinvest mine.
You do know that dividend stocks it's not extra money it's not extra income😊
@@davidbrooks8809 did you watch his video? That’s why I reinvest.
50€ a month in dividends is one week worth of groceries where I live. This is worth something to me and the dividends will grow.
Hello Jaspreet! Im your follower since long time. Please shed some light on currency hedge or Stocks that Canadians can invest in !!
I like them all however, I have learned that if you park a big sum of cash in A dividend stock AND the stock price takes a crap, you’re stuck unless you want to take a loss. You have to hold that sucker until it at least comes back up and you don’t know when that’s going to be. It may be 10 years.
Jaspreet what do you think about Airbnb rentals out of the country? Can you make a video on that?
My plan for retirement is to invest in aggressive growth for my working years. Then, five years before retirement, convert 10-30% (depending on how the market performs that year [up market, more convert]) into a small selection of dividend growth portfolios like SCHD, VYM, and some JEPI. That way, I never need to sell my investments and can purely live off of the dividends and have a huge emergency fund.
The issue with pure dividend investment the whole way is that you're missing out on a lot of growth opportunity. The only time I can see going from nothing to dividend is with a large windfall like an inheritance or lottery winning.
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
Can you go deeper into Real estate process please.
Thank you Jas God Bless you man 💪🏽
Amazing content creator
“As an attorney who is not your attorney”
Harsh but fair
Great video on investing, learned a lot from this in terms of diversifying more than what I know about. EDIT: Wow also a lot more on property investing for cashflow, hiring people to delegate the work load is much better especially property managers that are aligned with your vision and goals.
Can you analyse this ETF ticker TIME. It seems to be a relatively new ETF. Perhaps you could interview the fund manager and see its viability. Thanks
Hello, from Michigan!
Can we just do Dividend ETF's instead of stocks though? I much prefer that for long term. I have SCHD and DGRO.
All about risk management.
I'm 60 i saved 600k all in rhe credit union. Afraid to do anything. Reading about 70 banks ready to go bankrupt. Is my credit union at risk
U should at least put that into a fund to grow. Put a portion that u need to access in a HYSA.
Selling cash secured puts pays way more than dividends
Do all companies pay fixed returns? And how to invest in compound interest on stocks ?
Hi I like your videos, would you be willing to guide me to invest in real estate and other types of investments? Thank you.😊😊😊❤❤❤🎉🎉🎉
So is this a 401k or this a separate investment ? Do you go to the bank and tell them you want to open up a funds or is there an app ?
Good point. You’re asking the real questions.
Sounds nice but I don't have any extra money.
excuse me, i have a question. if i invest $400k, what am i looking at ROI wise in a few years?
Thank you - Gracias
Do you recommend any annual conferences, classes, or books?
Jaspreet is an expert, what a legend. You simplify things for the majority, that's why you're precisely in the minority mindset. Most people don't get finances, and unfortunately many people can avoid very preventable things.
Already at about $7K monthly passively. Want to double that. And most in a ROTH.
What about writing covered calls for passive income . if you can maintain a low delta on the contract. You still keep your stocks and your premiums.
Passive income not really.. can you make passive income that is not taxed
Complaining about making too much Money to where u have to pay taxes on it is a pretty good issue, no?
@@richwealthylavish5246 Paying more taxes than you are required is foolish. The IRS has rules that CAN benefit us all if we just pay attention.
@@papasquat355so how do we make sure we are not paying more in taxes than we should?
@@4thChairman_YumeHire a good CPA that can help you pay the right amount of taxes.
@@4thChairman_Yume You have to learn the IRS rules. There are hundreds of ways to reduce or eliminate taxable income. 401k's, Roth IRA's (for later), capital gains, HSA's, and on and on. Jaspreet has dozens of videos and UA-cam is ripe with great resources to teach you how to control your taxes.
I'm 60 years old. Is investing in the stock market even worth it. I don't have the time that a twenty something year old does
You may live another 20 more years, worth it if you are still working. But a business/consultant service may be a more stable idea if you don't over leverage yourself.
Probably not tbh
Best time to plant a tree twenty years ago The next best time yesterday
So true explain to us❤
Thanks
"#@!%&$*!!!"
I have already spent it all on Gucci.
😂
I wish I knew you when I was 26 y/o. Now Im trying to catch up big time...
As an attorney who is not your attorney.. 😂
Thank you sir for your clear explanations 🙏
NIO video please
I'm -3k with nio 😢..thinking of putting the same amount in now
I took all the C*vid money and put it in a basket of dividend stocks. Because we were already FI. I currently earn $101 per month but I DRIP it all. So I figure in 10 years I will make $1000 a month to pay my HOA fee. All the money is in big American companies. I never worry about losing it because I was given the money, I didn’t work to earn it.
May i ask in which baskets or stocks you personally invest? ofc ill do my own research
Thanks for sharing 🙏
Jaz, do I pay tax when my dividend is deposited into my account
Which trading platform would you recommend
Look into Charles Schwab good mobile app and desktop platform.
I mean is nvidia on near worth anything ? I’d love 100-200$ a month. FOR ME. GAME OVER. I have NO kids no responsibilities! I need this
lol, i bought NVIDIA around 200 then sold it when i had a financial crisis... now kicking myself!!!! HAHAHAHA
NEVER SELL UR STOCK!
No dividend
Ok y'all don't laugh at my question. 😂 So if I invest 10K in a company with dividends paying 4.5 percent. I'd get a $100 each month return ?
Making UA-cam videos seems to be one of his "passive income."
Because he does make a lot of sense. I have made some Special decisions and I am smiling
He put active work in to create it...
@Alpharizzchad Changed my frickin' life, fr. Full 180. Jaspreet, and JOHN'S MONEY ADVENTURES, particularly setting up DRIP for yourself, so old you doesn't have to go to one of those godforsaken facilities.
Yub he said it in a interview if he’s not making videos he’s not working therefore is not making money.
I don’t see any problem = he is teaching us valuable lessons = what’s wrong …?
Surprised you used MO as an example which is as you know Tobacco. I would never.
I’m 18 and watch every video to learn
Brilliant!
Can WE invest when WE are in Africa
Yes
Thanks for a Greta vidoe
When i turn 60, can i use the dividends in my 401k account as income?
What stock app do u recommend
Should call this the 10 year plan startup through investing
Don't think too much. Tomorrow is not guaranteed✝️🙏
stocks are going to appreciate faster than a few small dividends will help grow your wealth
Can this be done here in the Philippines? invest in U.S. stocks?
Or they could do all
But the stock market is passive income that's where you're wrong😊
Thank you Jaspreet bc you Repeat The Financial Lesson every other day ❤❤ kachin money 💰 🤑 💸 🙌 👏
My house is over 100 years old, then I don’t have to pay taxes?
You can only depreciate your home for 27 years, you'd still have to pay taxes
There is no such thing as "passive income" unless you're a corrupt government official. Everyone else has to provide some sort of value to get paid.
Stop paying rent
That's one major way to earn passive income 😅
* real passive income * I have a job, a business, and a house with cheap mortgage.
No after all that I get to buy another house and rent out the first one while I manage it.
So...what have we learned ? Nothing is passive ! Lol
1:55 and skip 10 sec
Now do it again
Congrats. You’re a DJ
I have acheived my 1st goal - 500 /month - for life
How?
Your narrative is completely wrong. If everyone just earn passive income and no work gets done, do things get done on it own? Passive income can increase standard of living but no one should be encouraged not to work. You yourself are working and selling your ideas so stop selling lies
This stuff gives me a headache 😅
Gud stuff
Why nvidia?
I would never ever give any money to Johnson n Johnson!!! Have some self respect