Join Market Briefs for FREE and get my daily financial newsletter: briefs.co/market/jaspreet WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through TH-cam comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
Yeah, I get them intercepting comments on my posts also. A bunch of low-life trash that don't have the intelligence to make money legitimate, so they scam people instead.
Yes it’s true, I’m learning way too late ⏰ and don’t know who to trust to turn it around at 65 . I love all of your videos I have learnt so much from you .
Never to old my friend. I am close to your age and keep educating and training myself.(I use multiple channels on you tube) and professionals I can touch. Father worked till 83yrs of age. I plan on doing same (only working in things I love to do) it keeps me relevant and fresh. It also provides great physical, mental and spiritual good health
Same; I was never taught any of this, either; was expected to depend on others from a young age; parents did not want me to be independent. I'm turning it around, now.
i know someone who told me I NEED to get a luxury car and the fancy watch just because i make good money. i argued its a waste to me personally because i dont like showing off, plus im just paying so much more for gas and insurance. her argument for herself was its a tax write off because of her "business". so i mentioned youre still paying so much more for gas and insurance that the little write off is not worth the "savings", so i do believe the system does keep people in debt with an illusion of wealth.
My friend said she doesn't even know the fuel prices, because her husband's company pays for it. So she doesn't care. They're not very wise with their money , just get enough to stay afloat
Not necessarily. I am very ignorant, but I am also very smart and spiritual. When my coworker told me that when I made a mistake on the job accidentally charging a child for lunch she told me that the boss was going to write me up but we all know what that means when you get written up on a job it really means they are getting ready to fire you. So when she told me that I am now quickly getting ready to start several businesses and looking for a rich man to date like a rapper. I work at one of the poorest schools where I live and the kids spend money everyday on ice cream. I give them a dollar to try to teach them how to save and the minute they get it from my hand they spend it. I also try to tell them not to buy an ice cream this week to try to save your money look at me like I am crazy. At the end of the day I have $120 after selling ice cream in my cash register.
Me too--- I am 70 years old -- I had to learn this lesson the hard way. Now I have assets, put my kids through school and am giving away my cash flow to my charity. Shalom to you from a Christian.
The Central Bank is a debt based system. We would all be better off without the Federal Reserve Bank. Which by the way is not Federal but a private corp.
100%. I advise this all the time, and most people don’t want to hear it. They look at me like I’m crazy. Most people are brainwashed into thinking you should buy the most house you can.
Start putting $20 a week into real world use cases in blockchain technology (crypto) or shares. Her generation will be like Gen Z … unless they are helped financially their ability to build wealth won’t be possible.
I love this mindset. People think if they respect themselves they’d spoil themselves with nice things but self-respect is actually valuing your time and energy and hence not spending it all on unimportant things
The only ones who wanna keep me poor is my wife and kids. The government lets me invest in tax free Roth IRA , 401k’s , self directed regular IRA’s . Investment property tax breaks, small business tax breaks. The school system sucks, advanced education sucks unless specifically learning investing. My kids are college educated and their dumb old dad had to explain to them in their late 20’s and early 30’s how to even set up a brokerage account then explain investing to them the same as if I were teaching a 6th grader. Very sad curriculum school system. But let’s keep wasting their time with forced learning a second language for semester after semester. That’s what needs to be changed. Get the 💩 out of the school system and teach kids what they need to be successful financially independent adults ASAP. God bless
The truth is, don't expect government to teach kids finances. If your kids don't have this knowledge in their 20's, you've done a bad job in teaching them. Don't blame the government at this point.
Well, to disappoint the screwed up government, I have my eyes wide open and am constantly teaching myself financial education thanks to Jaspreet of "Minority Mindset", Eric of "Smart Money Bro", Marcus Milla, Nolan of "Investing Simplified - Professor G"...
But they manipulate stockmarket so you cant win there either. Dident they remove buy button in Gamestop and alot of spoofing and barcodeing still happens to push value down in AMC
Most people don't want to be so focused on money like this so a good rule of thumb is to pay yourself 1st. Put 15% of your income into a fund the mirrors the S&P. Do this in your 401k or Roth IRA. Then live within your means after that. I bet you'll have enough to retire early, 60, and enjoy retirement. Along the way though learn more about money. It matters
Not everyone is meant to be a business owner/investments. But also consider why the tax system is set up that way. In US, the tax system is gear towards growth/jobs and the incentives are given the business/investor class in the form of lower taxes on revenue to achieve that end. But I agree that you need have financial educated to be not poor.
Most do not understand delayed gratification. I want to live now not later. I am a retired physician. I understand delayed gratification. Yes my yearly taxes were over 50%. If you got into medicine for money, you will be disappointed. Become a CEO of a health plan.
I’m 35 and I have a 14year old daughter and I’m beating financially literacy in her head at early age so she doesn’t end up like me just learning in my 30’s and I’m playing catch up because no one teach me about finances and how money. I just open up Roth IRA and UTMA for daughter and just up my 401k and two years old I open up high yield savings accounts for emergency fund.
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Brooke Miller for helping me achieve this
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Yep, we simply aren’t taught this. If I only knew. I’m 51 now. I still did well being military retired, and invested. I busted my butt and probably worked harder than smarter. Wish I knew the rules and how money works. I would have done things differently.
Veere tusi book likho bhut chalugii naale tuhanu royalty vee aundi rahogi te Hale kise sardar bande dii book vee ni gi tusi likho te inam damn sure it will be one of the best in financial education market.
The United States is the land of the free however many Americans choose to be slaves to debt thinking buying stuff they cannot afford is an exercise in freedom. Well it's not. Freedom is living below your means and saving/investing for your future. I love the lost decade concept 10 years Jaspreet talks about while you are young where you hold back, save some and learn how money works. It's not hard or complicated but it is something we need to learn.
Absolute truth here. Our system is great in many ways but you have to be very disciplined to outsmart the distractions designed to keep you poor and broke.
@@NoToName True. I had a lot of reading to do on the subjects before and during after I got started. Hard to believe I had worked at banks and brokerage houses and didn't know jack about finance. I was a functionary for years till I woke up broke at 56-no money, no car, no vacations and almost evicted. Very smart person living hand to mouth. After crying and pleading with God I was SHOWN my grave mistakes so I borrowed the rent money, worked two jobs, fixed my credit report, saved everything and spent most spare time in the library. I love the freedom of choice that money brings and greater feeling of stability and security. When I was working poor I spent so much money on 💩. Escapism. One weekend day I was making my usual rounds to the thrift stores. When I got to the door I was almost knocked down by a stench coming from all the old crap in the store. It was weird but I remember REALIZING it was the "smell of poverty. I NEVER went to another one again and shortly after had the near eviction. Yes. Education indeed but not just books either.
15:16 that was the hardest part for me - reinvesting my profits (minus tax) instead of spending it. I’m so relieved I didn’t spend it on wasteful “stuff” … and rolled it back into diversifying my investments.
Funny how I just had this kind of talk with my brother this morning. What a coincidence. I told my brother that I see life as a game and I shared the same view that most people play the game without knowing the rules and regulations which is why so many lose. Also, the big players have more advantage than small players.
Me and my wife putting 15% to Roth and investing all in TSP in SP 500. We have home medium size single detached and almost paid off. We are immigrants 2005 and had our house end of 2006. We do vacation in and out of country while we can we pay cash and not overspending. We have new EV cars to save gas and maintenance paid full. but we don’t eat too much in restaurants we always cook home to save.
I agree everything he said except for the housing because you have only two options which are renting someone else’s house or living in your house. If you don’t want to own your house and pay for the expenses, you have to pay for someone else’s house and their expenses without getting the potential appreciation. I don’t think there is no third option in my opinion.
Dividends are my goal man! Started investing at 28, but better late than never. Going back to my old job at the end of the month (about $60k/yr). Plan on saving half of my earnings and dumping them into dividends in my brokerage account. Future plan=live off dividends! If you don’t mind me asking, what stocks are you invested in?
It has taken my whole life to finally figure out how the system works. Income earned by employees is taxed at 38% while income earned through a business is taxed 18% The tax code is completely up to benefit those who own assets.
In Poland it works differently, small businesses have to pay hefty amount just to be able to work, even if they made 0 profit or had a loss. 12% or 32% tax for everyone. Also, obligatory retirement plan (around 15% of income! I would be a millionaire and have a huge retirement if I invested that myself, instead, government is just using this money for other things, which is basically hidden tax). There's also obligatory 9% healthcare "insurance", but in reality it's another tax. So usually, we give around 20% tax total, on the lower income bracket, or even up to 50% if it's higher. With higher income, it's better to have your own business, with lower income - be employed. Either way, we get taxed A LOT!
You know I like you. You bring good stuff. So this is not an affront: This kid you're talking to is a relative. Probably reasonably close relative. You could have thrown that out at the onset. Still, good job! Keep it up. 👍
I’ve seen a lot of youtube videos about econimcs, yours too, but this is one of the best ones. Learn to play the game, and use proper equipment (like a helmet in football) to have a better chance of winning. If we keep playing (you basically have to play the game of you live in the west), without knowledge of the rules or the right ewuipment, how can you expect to win??? Thanks for the inspiration to change my situation to the better!
Thank you King for the video VICTORIOUS B.I.G sending you high Frequencies and vibrations my friend Detroit vs everybody 😊 Discipline is the key 🗝 2 Life!!!!!
But Jaspreet, a great majority of people migrating into America were in poverty, without the ability to borrow money they would not have been able to buy that house, or buy that horse, or buy the essential items needed to live outside a constant state of scarcity. the ability to borrow money was essential to establish a state of security in America.
Love the suit. You look debonair. Also love the background.. their clothing color theme blends nicely with the interior deco.... Feels so warm and inviting. Of, course love the content❤
Yeah he missed out on a lot of things here. Ie living costs have gone up. Average house price is just under 500k ain’t no way people on average incomes can not over spend on the basic human need.
Your sadgution will be sense confort too me and some thing know to day economics see the money have as a thing for there theory if that should be carelese of obtaing money who know but others person see the money should be demarkeshine of thing so that economics unknown for money idea therefore the world economy up and down raise the obstacle.
its not so much that people are buying stuff they dont want. they do want it, but after having the thing they realize its not what they wanted....so return it!
We can’t all be investors and business owners. The system wouldn’t work. I think the best lesson to learn if you just want to work is control your money. And stop trying to look like everyone else.
I have a question honestly not beong rude and id appreciate real answers but i listen to alot of podcast and the one thing i keep hearing is you buy or lease or loan a car its bad so my question is how is anyone going to buy assets without actually buying a car which is not a want but a need for most americans in this day an age i know there is bad purchses but what about people who dont have a choice assuming the loan isnt so much.
buy tools (knowledge is a tool but the education system is a trick) and do not buy toys... buy a house when a house is less than rent (and it usually is) ... make a business and invest in what customers need and not what you want (most everyone needs shelter, food, security and transportation but fancy coffee and bling is what you want) .... and most important play by the rules and never cheat the rules (you will earn and receive trust, honor, and wealth which are the greatest tools of all)
This reminds me of my co-worker. We are both high earners . He takes his money and he is in and out of high end cars. He never keeps a car more than two years. When he is telling me about how much he spends on paint correction, I tell him how many sharers of ETF's I bought. It all went over his head until I showed him the dividends I made(after I explained what dividends were to him) and how much my YTD gains are. This guy even took out a 401k loan to purchase a car for his wife.
The government or businesses should not be responsible for your financial future. Become your own bank by investing early and when you retire, who cares about your score. People brag about their credit scores, but with cash who cares about credit scores.
The US government legal system consider the average person to be unsophisticated enough to make financial decisions on their own. It's low key funny but sad
So many people with the newest iPhone in a new truck with a seven year financing stating they don’t have any money left to invest. Then they follow that statement they can’t wait 15 or 30 years I stated even if he waited 15 years, you have something versus nothing?
Join Market Briefs for FREE and get my daily financial newsletter: briefs.co/market/jaspreet
WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS!
There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through TH-cam comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
Yeah, I get them intercepting comments on my posts also. A bunch of low-life trash that don't have the intelligence to make money legitimate, so they scam people instead.
Yes it’s true, I’m learning way too late ⏰ and don’t know who to trust to turn it around at 65 . I love all of your videos I have learnt so much from you .
Never to old my friend. I am close to your age and keep educating and training myself.(I use multiple channels on you tube) and professionals I can touch. Father worked till 83yrs of age. I plan on doing same (only working in things I love to do) it keeps me relevant and fresh. It also provides great physical, mental and spiritual good health
You are not 65 sweetie
@@antoineford1185lmfao exactly
Same; I was never taught any of this, either; was expected to depend on others from a young age; parents did not want me to be independent. I'm turning it around, now.
i know someone who told me I NEED to get a luxury car and the fancy watch just because i make good money. i argued its a waste to me personally because i dont like showing off, plus im just paying so much more for gas and insurance. her argument for herself was its a tax write off because of her "business". so i mentioned youre still paying so much more for gas and insurance that the little write off is not worth the "savings", so i do believe the system does keep people in debt with an illusion of wealth.
Thats more that they want to show off on social media and try to justice a stupid decision with a stupid analogy.
My friend said she doesn't even know the fuel prices, because her husband's company pays for it. So she doesn't care. They're not very wise with their money , just get enough to stay afloat
When people are ignorant, they are much easier to MANIPULATE.
Agreed, even a Liberal Arts degree will ultimately make you a better investor. See Peter Lynch.
Which is why I don't vote democrat.
Not necessarily. I am very ignorant, but I am also very smart and spiritual. When my coworker told me that when I made a mistake on the job accidentally charging a child for lunch she told me that the boss was going to write me up but we all know what that means when you get written up on a job it really means they are getting ready to fire you. So when she told me that I am now quickly getting ready to start several businesses and looking for a rich man to date like a rapper. I work at one of the poorest schools where I live and the kids spend money everyday on ice cream. I give them a dollar to try to teach them how to save and the minute they get it from my hand they spend it. I also try to tell them not to buy an ice cream this week to try to save your money look at me like I am crazy. At the end of the day I have $120 after selling ice cream in my cash register.
This is great satire it made my day. 😂😊 Thank you. @@M1999-v4v
I lived and practiced this style for years. Great to hear it mentioned and explained here. Shalom to you!
Me too--- I am 70 years old -- I had to learn this lesson the hard way. Now I have assets, put my kids through school and am giving away my cash flow to my charity. Shalom to you from a Christian.
The Central Bank is a debt based system. We would all be better off without the Federal Reserve Bank. Which by the way is not Federal but a private corp.
Please elaborate more.
The fact that we would be better off without it is the very reason it exists.
@@totuudentorvi7781 How is it debt based?
Buy a home on one persons income not both. Most people buy too much house.
100%. I advise this all the time, and most people don’t want to hear it. They look at me like I’m crazy. Most people are brainwashed into thinking you should buy the most house you can.
How is this possible in today’s market? One income might have worked in the 1970s wont work today.
We need a roof over our heads not a palatial debt burden on tour name
Thank you for sharing this video i sent to my 16 year old niece. I'm trying to teach her early how to manage money.
Start putting $20 a week into real world use cases in blockchain technology (crypto) or shares. Her generation will be like Gen Z … unless they are helped financially their ability to build wealth won’t be possible.
My friends brother taught me the basics at 15.
I love this mindset. People think if they respect themselves they’d spoil themselves with nice things but self-respect is actually valuing your time and energy and hence not spending it all on unimportant things
The only ones who wanna keep me poor is my wife and kids. The government lets me invest in tax free Roth IRA , 401k’s , self directed regular IRA’s . Investment property tax breaks, small business tax breaks. The school system sucks, advanced education sucks unless specifically learning investing. My kids are college educated and their dumb old dad had to explain to them in their late 20’s and early 30’s how to even set up a brokerage account then explain investing to them the same as if I were teaching a 6th grader. Very sad curriculum school system. But let’s keep wasting their time with forced learning a second language for semester after semester. That’s what needs to be changed. Get the 💩 out of the school system and teach kids what they need to be successful financially independent adults ASAP. God bless
100 true but it , but they won’t. That’s why you have to teach them yourself, like you did. The younger the better
Ha ha ha, why would a school teach people how to invest. Schools are for teaching people how to work for billionaires 😂😂😂😂
@@leonhenry4861 yep you got that right.
You've absolutely nailed it! Great comment and such a simple truth.
The truth is, don't expect government to teach kids finances. If your kids don't have this knowledge in their 20's, you've done a bad job in teaching them. Don't blame the government at this point.
Delayed Gratification... is Discipline!!! 😮
Well, to disappoint the screwed up government, I have my eyes wide open and am constantly teaching myself financial education thanks to Jaspreet of "Minority Mindset", Eric of "Smart Money Bro", Marcus Milla, Nolan of "Investing Simplified - Professor G"...
Man it’s just so difficult and the fear is real
Money can buy you freedom, one of the reasons politicians want you poor.
Jaspreet , best dressed gent in the room! 👌 thank you for sharing this knowledge with folks!
But they manipulate stockmarket so you cant win there either. Dident they remove buy button in Gamestop and alot of spoofing and barcodeing still happens to push value down in AMC
they do?
The first thing everyone needs to understand is the economist capital vs expenditure curve.
Most people don't want to be so focused on money like this so a good rule of thumb is to pay yourself 1st. Put 15% of your income into a fund the mirrors the S&P. Do this in your 401k or Roth IRA. Then live within your means after that. I bet you'll have enough to retire early, 60, and enjoy retirement. Along the way though learn more about money. It matters
Very good discussion! Debt is slavery, and they don’t want you to realize it.
Not everyone is meant to be a business owner/investments. But also consider why the tax system is set up that way. In US, the tax system is gear towards growth/jobs and the incentives are given the business/investor class in the form of lower taxes on revenue to achieve that end. But I agree that you need have financial educated to be not poor.
Maybe not business or fancy investments, but everyone can invest in VTI
@@rodgrodg4hk269agreed… he said “assets” which is pretty broad and it’s up to you to determine what is “meant” for you.
Most do not understand delayed gratification. I want to live now not later. I am a retired physician. I understand delayed gratification. Yes my yearly taxes were over 50%. If you got into medicine for money, you will be disappointed. Become a CEO of a health plan.
😂😂
I’m 35 and I have a 14year old daughter and I’m beating financially literacy in her head at early age so she doesn’t end up like me just learning in my 30’s and I’m playing catch up because no one teach me about finances and how money. I just open up Roth IRA and UTMA for daughter and just up my 401k and two years old I open up high yield savings accounts for emergency fund.
What do you think about Kamala Harris wanting to raise the 20% tax rate for your stocks up to 40%
Booo
For that alone I will not vote for her
👎🏽
Lord please don’t let her become president.
ive never had a studen loan in my life.
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Brooke Miller for helping me achieve this
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
I'm surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Can you explain how a land patent works?
Thanks!
Yep, we simply aren’t taught this. If I only knew. I’m 51 now. I still did well being military retired, and invested. I busted my butt and probably worked harder than smarter. Wish I knew the rules and how money works. I would have done things differently.
Veere tusi book likho bhut chalugii naale tuhanu royalty vee aundi rahogi te Hale kise sardar bande dii book vee ni gi tusi likho te inam damn sure it will be one of the best in financial education market.
The best sale is no sale
Everyone Needs to hear this!
This knowledge needs to be taught in school.
You are educating amazing ❤
9:04 Don't spend more than you earn.
Bro... Why are all of these comments the freaking same ones on other videos about investing?!
Got it! 👍🏾
Good morning. Great content. I've learned a lot from your channel.
The United States is the land of the free however many Americans choose to be slaves to debt thinking buying stuff they cannot afford is an exercise in freedom. Well it's not. Freedom is living below your means and saving/investing for your future. I love the lost decade concept 10 years Jaspreet talks about while you are young where you hold back, save some and learn how money works. It's not hard or complicated but it is something we need to learn.
Any advice for when youre upside in uour car payment?😊
Start sending money towards principle only…….same day as regular payment but a separate payment
Having a home where your rent is stable and below the average rent is an asset
Rent is a liability.
@@croswellianprincess3590yes. People who pay rent are buying property for someone else over and over
Jaspreet! Those socks! We love you!
It is all standard of living. People have to buy expensive things in order to step up. Otherwise it is hard to grow if you don't buy
Absolute truth here. Our system is great in many ways but you have to be very disciplined to outsmart the distractions designed to keep you poor and broke.
I agree, but I want to add that discipline will come naturally with becoming more financially educated imo.
@@NoToName True. I had a lot of reading to do on the subjects before and during after I got started. Hard to believe I had worked at banks and brokerage houses and didn't know jack about finance.
I was a functionary for years till I woke up broke at 56-no money, no car, no vacations and almost evicted. Very smart person living hand to mouth.
After crying and pleading with God I was SHOWN my grave mistakes so I borrowed the rent money, worked two jobs, fixed my credit report, saved everything and spent most spare time in the library.
I love the freedom of choice that money brings and greater feeling of stability and security. When I was working poor I spent so much money on 💩. Escapism.
One weekend day I was making my usual rounds to the thrift stores. When I got to the door I was almost knocked down by a stench coming from all the old crap in the store. It was weird but I remember REALIZING it was the "smell of poverty. I NEVER went to another one again and shortly after had the near eviction.
Yes. Education indeed but not just books either.
15:16 that was the hardest part for me - reinvesting my profits (minus tax) instead of spending it. I’m so relieved I didn’t spend it on wasteful “stuff” … and rolled it back into diversifying my investments.
He knows that they took the time
This man is amazing. I love the way he explains how the system works. Thanks for sharing your knowledge and insight with all of us. Thank you.
Funny how I just had this kind of talk with my brother this morning. What a coincidence. I told my brother that I see life as a game and I shared the same view that most people play the game without knowing the rules and regulations which is why so many lose. Also, the big players have more advantage than small players.
My coworker said I was more of an asset than a liability. Ohh wait, they actually said I was an ass hat.
Agreed
I agree
Me and my wife putting 15% to Roth and investing all in TSP in SP 500. We have home medium size single detached and almost paid off. We are immigrants 2005 and had our house end of 2006. We do vacation in and out of country while we can we pay cash and not overspending. We have new EV cars to save gas and maintenance paid full. but we don’t eat too much in restaurants we always cook home to save.
This man is a legend and men need to listen❤️🔥🤘🏼🙏🏼
I agree everything he said except for the housing because you have only two options which are renting someone else’s house or living in your house. If you don’t want to own your house and pay for the expenses, you have to pay for someone else’s house and their expenses without getting the potential appreciation. I don’t think there is no third option in my opinion.
Social housing maybe?
@@martinrea8548 That’s is not an option for the middle classes or upper classes who want to build wealth.
I want to start a business like Walmart, so people can save money
Fact! But now that I know how do I fix this mess
Wish i learned this in my 20s. But i learned about it in my early 30s. And now make 2g a month just with dividend
Dividends are my goal man! Started investing at 28, but better late than never. Going back to my old job at the end of the month (about $60k/yr). Plan on saving half of my earnings and dumping them into dividends in my brokerage account. Future plan=live off dividends! If you don’t mind me asking, what stocks are you invested in?
Just like health insurance and disability insurance, you’re one trauma or illness away from bankruptcy if you aren’t covered
I can’t take a dude seriously that’s got his legs up on the chair criss-cross applesauce like he’s in 3rd grade
It has taken my whole life to finally figure out how the system works. Income earned by employees is taxed at 38% while income earned through a business is taxed 18% The tax code is completely up to benefit those who own assets.
In Poland it works differently, small businesses have to pay hefty amount just to be able to work, even if they made 0 profit or had a loss. 12% or 32% tax for everyone. Also, obligatory retirement plan (around 15% of income! I would be a millionaire and have a huge retirement if I invested that myself, instead, government is just using this money for other things, which is basically hidden tax). There's also obligatory 9% healthcare "insurance", but in reality it's another tax. So usually, we give around 20% tax total, on the lower income bracket, or even up to 50% if it's higher. With higher income, it's better to have your own business, with lower income - be employed. Either way, we get taxed A LOT!
Most people was raised to do the complete opposite
You know I like you. You bring good stuff. So this is not an affront: This kid you're talking to is a relative. Probably reasonably close relative. You could have thrown that out at the onset. Still, good job! Keep it up. 👍
I’ve seen a lot of youtube videos about econimcs, yours too, but this is one of the best ones. Learn to play the game, and use proper equipment (like a helmet in football) to have a better chance of winning. If we keep playing (you basically have to play the game of you live in the west), without knowledge of the rules or the right ewuipment, how can you expect to win??? Thanks for the inspiration to change my situation to the better!
Thank you King for the video
VICTORIOUS B.I.G sending you high Frequencies and vibrations my friend Detroit vs everybody 😊
Discipline is the key 🗝 2 Life!!!!!
When you live in your home and pay it off it’s an asset because the money you were paying on a mortgage is going to you now.
Checking in from the DMV.
But Jaspreet, a great majority of people migrating into America were in poverty, without the ability to borrow money they would not have been able to buy that house, or buy that horse, or buy the essential items needed to live outside a constant state of scarcity. the ability to borrow money was essential to establish a state of security in America.
Love the suit. You look debonair. Also love the background.. their clothing color theme blends nicely with the interior deco.... Feels so warm and inviting. Of, course love the content❤
I’m all for questioning the system, but isn’t there a risk of falling into the trap of overthinking and not taking action? 🤔
Yeah he missed out on a lot of things here. Ie living costs have gone up. Average house price is just under 500k ain’t no way people on average incomes can not over spend on the basic human need.
Your sadgution will be sense confort too me and some thing know to day economics see the money have as a thing for there theory if that should be carelese of obtaing money who know but others person see the money should be demarkeshine of thing so that economics unknown for money idea therefore the world economy up and down raise the obstacle.
I have a car finance mistake bmw 70k loan and 40k it’s worth was offered 40k and thinking to sell it although will take a loss. Advice.
Yeah keep it until the engine stops. Then don’t make that mistake again.
crash it
its not so much that people are buying stuff they dont want. they do want it, but after having the thing they realize its not what they wanted....so return it!
We can’t all be investors and business owners. The system wouldn’t work. I think the best lesson to learn if you just want to work is control your money. And stop trying to look like everyone else.
Read “Fruit from a poisonous tree” from Melvin Stamper…all you need to know.
I have a question honestly not beong rude and id appreciate real answers but i listen to alot of podcast and the one thing i keep hearing is you buy or lease or loan a car its bad so my question is how is anyone going to buy assets without actually buying a car which is not a want but a need for most americans in this day an age i know there is bad purchses but what about people who dont have a choice assuming the loan isnt so much.
My husband and I own a 2003 Honda CRV outright and almost done paying off a small loan for a 2006 Toyota Prius. Live humbly.
Canton here 😂 Thank you !!
This man is right on the money all across the board!!
Hes not lying.
The system needs to be rebooted. It doesn't work.
In the early 1900’s debt was considered a bad thing. The borrower is slave to the lender.
There are plenty of places to see in the USA, cheap. You do not need to go to Europe and Mexico. We live in the best country in the world
I’m starting to find this out now.
I want to travel across the country on a train ride.
Wow that’s awesome you’re so right on, I watch & listen to you all the time & I have learned so much. Thank You bro for your information
buy tools (knowledge is a tool but the education system is a trick) and do not buy toys... buy a house when a house is less than rent (and it usually is) ... make a business and invest in what customers need and not what you want (most everyone needs shelter, food, security and transportation but fancy coffee and bling is what you want) .... and most important play by the rules and never cheat the rules (you will earn and receive trust, honor, and wealth which are the greatest tools of all)
This reminds me of my co-worker. We are both high earners . He takes his money and he is in and out of high end cars. He never keeps a car more than two years. When he is telling me about how much he spends on paint correction, I tell him how many sharers of ETF's I bought. It all went over his head until I showed him the dividends I made(after I explained what dividends were to him) and how much my YTD gains are. This guy even took out a 401k loan to purchase a car for his wife.
When and how do you think we can use our assets when you reach 65?
Good question
This video should have a 100 million views.Unfortunately people are too lazy
Let's go 😁
Thank you
The government or businesses should not be responsible for your financial future. Become your own bank by investing early and when you retire, who cares about your score. People brag about their credit scores, but with cash who cares about credit scores.
So many people don’t care about the financial futures all they care about is how much is the monthly payment?
The US government legal system consider the average person to be unsophisticated enough to make financial decisions on their own. It's low key funny but sad
🔥🔥🔥🔥
And they blame their government instead of getting financially literate. You have to go out there and learn.
Those are the perpetually broke people. They will never break out because of their mentality and blaming everyone else
Motivation
flying a bit too close to the sun on this one, Klaus and the ghost of Susan Wojiki may ban you
We live in a consumer based economy. Buy now - pay later.
By design
So many people with the newest iPhone in a new truck with a seven year financing stating they don’t have any money left to invest. Then they follow that statement they can’t wait 15 or 30 years I stated even if he waited 15 years, you have something versus nothing?
Not everyone wants to invest, calm down
Y😮😮😮😮😮😮 if Jazzz says it!
Brother Jaspreet I’m waiting for your call 🙏🏾
Thank you for educating me❤
Yes I am going to win . No more debt 😊