Thank you for watching! If you enjoyed this video, you should watch - If You Have $1,000 In The Bank Do These 5 Things: th-cam.com/video/xGmh2fdui_Y/w-d-xo.html
The, "they want to keep you poor" thing always seemed weird to me. Let's just consider something. The people who make this point generally hate capitalism, let's not beat around the bush. They also say that these people only care about profit, do you see the problem? If they only care about profit, what is the incentive in keeping you poor? If you were richer you could spend more, therefore give them more money. If they cared so much about keeping you poor, they wouldn't allow you to invest and make money. The thing is that capitalism is great, because it allows everyone to get something. It's mutual self interest. There are two ways of making business, through mutual self benefit and cooperation, or through force, in one of these options someone has to lose something. Wanna take a guess which one it is? By the way, i mean richer in the true sense of the word, richer is not about how much money you have, it's about what you can do with that money. Are you richer if you have a million dollars but can't buy a pizza? Or if you have 100, but can buy a house? Things getting cheaper are like a wage raise, both are increasing your standard of living, because an increase in your wage if costs remain the same, or a decrease in prices with the same wage, lead to the same outcome. Control is more about power than money. Anyway, we are about to enter a period of depression, with inflation, the worst of both worlds, i hope you bought some commodities in the last few weeks..... Things are not good. And it's not because "capitalism failed us". Spending is too high, the debt is ridiculous, the us is 30 trillion dollars in debt, but actually no, it's even worse, because the 30 trillions do not account for unfunded liabilities, the numbers are not for certain, but the general estimate is that put together the debt rises to almost 200 trillions. If people just said no to welfare, 90 % of the problems would disappear, the government would stop printing money and cause inflation, and other stuff.... Let's just leave it at that. This is not just the us, but the west in general. We are about to face some serious economical issues, and the government seems to be making things even worse, i generally assume that people are smart, but the recent moves from the government are questionable to say the least.... By the way, if you have a financial advisor who is telling you not to invest into commodities because they underperformed in the past, first i want you to consider this, what is the first rule of investing? Past performance is not an indicator for future performance, just because something performed badly or well in the past, does not mean it always will, you have to look at the fundamentals. So if someone is saying this, you should already be cautious of their suggestions, they are not financial advisors, they are just salesman, they know how to make a report, and look at a chart, but they know jack about actual economics. Ask this person to describe the market cycle, i bet they wouldn't even know what you are talking about. Not financial advise wink wink. Be careful, not many people actually know economics. The only title you should pay attention to, is something like chief financial officer or something along those lines, but if it's your average joe financial advisor, he or she is probably just a salesman.
Only problem is in Canada we have a thing called Trudeau. If you think the wrong way or act the wrong way this human thing will decide screw you and seize you’re bank and any assets. We must invest in guns first and remove the government before we can live comfortably.
I say that depends on if that home is also a place of business. Agricultural and Horticultural business are often conducted on ones property in near proximity to ones home.
Hahaha I’m a doctor 😂 I used to spend all my spare time reading and watching everything about medicine. Now I’m hooked on Minority mindset! Great financial advice!!
Absolutely outstanding video! Jaspreet you are awesome. The advice that you give here is spot on correct. I say this because I am an accountant and an economist. Additionally, I am a seasoned investor. I listen to your videos all the time.
Can you please thank your parents for me. What an amazing blessing they brought into the world (YOU!) The struggles you watched your parents endure, the love you have for your parents, the determination that something wasn’t right, refusing to be placed in a box, created this channel! Awe your such a blessing in my life. You have no idea how much I appreciate this education.
My favorite parts of this videos are the extreme harsh truths that most folks get offended by. Looking rich vs being rich and the hard real steps of changing your mindset . I love hearing these hard pills to swallow. I wish I heard them sooner in my life
I 100% agree with you but it also depends on who is your partner. You have a partner that has the same goal as you will both will be comfortable by retirement age. It takes time.
❤️ Great content! When I grew up I was told the same things about working hard & saving etc. & then was busy raising 2 sons as a single mom & it took all I had to stay afloat. I lived within my means and sowed all I had into my children’s education, providing for their needs and into community outreaches to help others. I always bought used cars, & then was given an older car. It was a 1980 450 SEL Mercedes that I maintained & drove it for 20 years; then gave it to a friend who wanted it & am now driving a 1990 Nissan truck because it’s handy for the nonprofit projects I’m working on. I’d like to have a new vehicle but it’s OK because I’m wealthy in other ways; my son’s grew up to be honorable men and I know the Lord & HE gives me peace beyond measure. THANK YOU for teaching people how to improve their lives. I heard about you from Ed Mylett, then subscribed & been watching since. Keep up the great work!
You have a very compassionate heart that's willing to help the masses the free education. Frankly I think you're brilliant. And what's so beautiful about it you're very passionate to spread this knowledge. God bless you young man.
I really enjoy listening to Jaspreet. My only comment is what you consider a "money pit" is no longer to me since I learned how to repair my home, cars, and just about anything else. TH-cam has a big part in my learning over the years. I never used to fix things until I felt like being taken advantage of many times and vowed to do it myself not only cheaper but with better quality parts.
Ur great, but I did it the other way. Saved up, bought a house in cash, car in cash, debt free and I’m 41. Than I started investing. I’m 41 and I think That I will be a millionaire before the age of 45.
I was laughed at for so long because I live in LA and I didn't get my driver's license until I was 28 years old. I was taking the bus to get to/from school and work, because I didn't want to spend money on a car as well as all the money to maintain one. A bus pass for the month was $75 and later went up too $100. I still prefer to commute if possible.
Always own your own home, always. The alternative is renting and paying for someone else's property. You build equity in your home you can tap into to invest, renting provides zero return, renting is a liability. You also gain value appreciation by owning your home. never rent if you can afford to buy, ever!
I somewhat disagree. It depends on the situation the person is in or what the person prefers but renting is equally just as good of an option as owning (depending on the person) . Having its own advantages such as not being stuck in one place, some people like the mobility with renting and overall less responsibilities when housing is concerned and can focus more on wealth building with how much is left from just renting rather than owning. Both options have positives, you mentioned advantages owning a house has, and negatives, which I mentioned.
This is a dumb comment. Renting has the utility of enabling a shorter duration occupancy length. Furthermore, multiple metros have effectively priced out most people to buy.
One thing I've never had is a car payment. I just drive beaters for 5 or 6 years then get another beater once repairs become to much. I just started investing and leaning about finances a few years ago. But as far as vehicles I've just never been one to care about what I'm driving.
Why people went back into debt? One key reason is because we live in a culture and society that encourages people to SPEND, SPEND, SPEND and not save, also, living in a CREDIT based financial system makes spending easier and more convenient via the use of credit cards. And actually, the things you're saying in regards to those named brand products and luxury items you often refer to, those types of references (unintentionally on your part Jaspreet) keeps the fire in most people kindled to have those things. They want those things but don't have the desire, drive, or discipline to do what you teach about on how to get them, most people want it NOW, FAST, QUICK, and EASY and without much of an inconvenience.
Thanks brotha Jaspreet, the plain truth is what we need,but i want you to take it up a level, show us what an real estate tax yield & how to buy one, stock options & how to prosper in any market directions, moreso how to parlee what properly we may now own into airbnb assets and show us what economic plateau we could possibly land on individually
I'm glad I found your channel a year ago. I went from a debt-free saver to a wealth builder. I would not have been able to weather the increase in inflation had I not invested time watching your videos. Thank you, sir.
This story has been told and retold so many times I often wonder why there are so few that are rich. I have applied these principles and I am still working 40-50 Hours every week. Lot of variables in life, Best to all of you.
Thankyou, first person to actually comment without being brainwashed lol My advice is Buy a home with a low mortgage in good condition(as in livable, not luxury) lol, After living in the home you will save because your now paying much less than you would have been paying on rent. Use the extra income to maintain the property and save for a down payment to buy another home. Create a 12 month contract and rent out your house starting on a set date. This now lowers your dti ratio and hopefully give you more income to report. Then go buy a new house, repeat repeat repeat.
@@barackthecomposer6642 let's see. Last one I saw happened last week . was a basement wall imploded because of snowmelt runoff flooding a normally almost impossible area for floods it's now partially full of mud and there's a huge car hood sized upward tilting hole in the wall by the electric box going outside into the yard . And his homeowners insurance does not want to pay out but yet is getting the place condemned. It's about 15k to have it dug up with a backhoe and fixed fwiw some Insurance companies can be real sleazeball ops . . I happen to be a construction worker so i get to see lots of rental and other partially paid off or bank owned money pits . As well as repair jobs
@@agoogleaccount2861 Yikes! The so-called real estate investor gurus don’t reveal these type of negative details at their expensive workshops and they’re expensive turnkey programs.
He never lied they want to keep you poor. Give you a job and give you 40 hours. Get another part time job and add a couple 100 they take some of your hours. Invest and they keep your hours lower than everyone else. Keep you from getting paid more. Even give you the worse jobs and hope you quit.
Owning a home to live in actually is an asset if you have the right mindset. I'm only paying about 550 a month on my home which gives me extra money to invest vs renting. You can also take out loans while owning a house risk free. If you take out a 40,000 dollar loan while renting and you end up having to move out then it's going to be a lot harder to find a place to rent since they will be looking at your debt-income ratio. Last point is that every month you pay on your mortgage you are basically putting money in your bank to use at a later time. If you pay off 30,000 dollars in 15 years and your home goes up in price by about 20,000 then guess what? You can refinance your house and pull out that 50,000 dollars you have in your house and use it to invest.
Boy! You are brilliant! I thought I knew a lot about money but I am one of those who bought into the propaganda about the house. You are right a house can be a money, as can be the other liabilities. Thank you most kindly for this very very informative video bravo! Nicely done! 👏🏾👏🏾👏🏾
Indeed” keep” is the key word. Every six months the banks creating an Escrow shortage on your house payments even when paying principles down over several years. The banks have become the “Bank Robbers”
I am going to try and get my parents to watch this video. I have been trying my best to explain it, but maybe coming from someone else, with an amazing way of explaining it without sounding condescending will help. Awesome video! Thank you.
Wow dude. Fucking finally a video I can send my wife. She will finally get the message. She might accuse me of paying you to make this vid. You speak so much knowledge
I rent a decent house and I seem to have a WHOLE lot more money and less stress than those who have all these great investments in real estate. I dont even have to mow my own grass and I dont pay property taxes. I dont ever think about my roof or sewer line or having to put a water heater on my credit card. I'll eventually buy a house and it will be in CASH.
i used to think like that, now i am building equity and saving to get a duplex and i will rent out my condo . i paid $95000, in less than 2 years i have it down to $85,000, the condo next door just sold for $165,000... My mortgage is $513 and my HOA is $420... thats $933 a month , and i dont have to cut the grass.. the condo 2 houses down rents for $1800 a month , i live in the Tampa area,. I have a 401 k , an IRA, an emergency fund, an 815 credit score and 0 credit card debt , paid my car off 5 years ago,; thank god i listened to jaspreet, Ben Mallah , raham, and Dave Ramsey . i share their teachings with others. TH-cam changed/saved my Life ! open your mind and try something different.Thoughts become things, if you can see it in your mind, you can hold it in your hands . Keep Hustlin !
Just got kick out my rental! Only been renting from my nice landlord for 10 years. All good ill go buy a property at 50 percent higher then it was 2 years ago .
Great information. I've been hearing for years that we need to get a financial education but never knew how to get that kind of education until I found your channel. Thank you for sharing your knowledge.
Hello ☮️ thank you Sir for your time and help with financial literacy. You explain everything so well I can hear you and understand. I give thanks 🙏🏽 ☮️
I think you are very knowable. I had a lot of money in the the stock market. The crash came I lost almost every thing. I pulled out of the market an went into real estate. I was al most broke. I started fliping houses. I did well. Then I took some money a got back in the market. I started buying things whole sale. All this hapenened when I was in my forty’s. Mean while I got divorced an lost half. I was almost broke. I went into growth funds. I bought stocks wholesale. Now I am 71 with smart investing now I have over 800000$. I think I did well .I worked hard. It payed off. I never thought I would this happen. Now I have know debt. I enjoy my self. Rich I watch you all the times. Smart people with know knowledge should watch you an listen.
For Californians, weather permits you only have to worry about ventilation. Cafes and Starbucks are everywhere, have free electricity and wifi, so these are not priorities. Public restrooms are all over. Truck stops have showers and wet towels/baby wipes go a long way. Massage tables have adjustable legs so you can park at inclines and still sleep level. Buy 2 $100 massage tables so you can fit a decent sized mattress on it, this also gives you storage underneath. Keep a portable toilet for emergencies but otherwise you really only need to be there to sleep, otherwise there are cafes and libraries and work to do. Stay safe, pick only the best neighborhoods, good luck 🤞
Thank you so much for your videos ! You are an inspiration and incredible person to follow ! I wish you the best new year ahead! Happy 2024 ! Thank you so much for all the value lessons and mindset !
This video is excruciating! You only think your depressed then you realize your life is nothing more than the punchline of a really bad joke. I Couldn’t make it past 50 mins but good luck to rest of you.
This guy is amazing, I have watched so many videos about investing and how to make money smart and this guy is the first i really understand. I will for sure keep listening and try to do the things he says.....he seems pretty legit and does not hide anything. For sure i will keep listening and following.
It's about balance. I don't want to be wealthy and live like a bored penny pinching loser. I'll take living above average and having fun while I do it any day. I pay all my bills and have money saved for my kid. What more do you want.
I really like these videos and am sharing them with my kids… but one important thing I think is missing from these videos is how important credit rating is! Yes, cars and homes are liabilities… but if you’ve bought well within your means that monthly car payment or that Less Than 9% balance on your credit cards will build your credit scores and saves you on health, home and car insurances. Wealthy people also know how to use their credit to their advantage!
BINGO U HIT THE NAIL RIGHT ON THE HEAD. I TELL MY FAMILY WHY U GO OUT AND BUY A CAR THATS MORE THAN YOUR INCOME. THEY BUY A CAR THATS 50,000 AND THEIR INCOME A YEAR IS 40,000 A YEAR.
Jaspreet got it down pack he didn't stubble in words n speaks so simple n clear that a child can get rich, in other word I got educate yourself to instead of working hard for money let money work hard for you. Thank you
Thank you for your teaching. One or the few Subscribers that I listen too. You make a lot of (cents) 😅 get it but please keep up the good work brother 👍🏿
Some coworkers I work with don't speak English. Can you go through the steps on video on how they do calculations such as 15% of net pay. They don't understand how percentages work. ( You really are incredible, and have changed lives THANK YOU from the bottom of our hearts 💕💕💕💕💕💕💕💕💕💕 !!!!!!
Great video.. just a general comment.. I being in a Sikh family.. the major expenses I see in our society are weddings..houses.. and cars.. I try my best to stay out of trend.. constantly working to retrain my brain..
Hi Jaspreet, Thanks for creating such a great video and content. Kudos to your team for putting these educational videos. In multiple videos, you've explained to start building wealth by rental properties. But major elephant in the room is how a landlord can protect themselves from evacuation situations where renters are not able to pay rent and it is their primary home? Can you please guide on such situations and how a homeowner can place their guards in-place? Thanks!
Understood most of the info many years ago. I'm a Worker (IT related with OK salary), buy stocks in the company on a regular agreement with discount. I do not want to climb the ladder. Own my house that steadily goes up in value, loans payed off. I have no interest in rentals and such, very boring. For many years have been able to regularly long term invest in a stock portfolio to spread the risk. In a few years I can retire if really want to, have interests to fill a day with for a long time.
yea but a doctor makes 300-500 a year and can pay that off their first year.... regular jobs that makes under 100k that require a degree or worse a master's are going to be stuck with a student loan for a long time
Jaspreet, none of this matters if the WEF has its way.... We will all be living in a pod, eating the bugs, owning nothing and be happy..... (Yea right)
The holiday part has me crying 😂 talmbout I just looked at my Calendar and it’s coming back next year 😂🤣 haha I actually learn a lot from you love this podcast! Love the way you help me understand.
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Thank you for watching! If you enjoyed this video, you should watch - If You Have $1,000 In The Bank Do These 5 Things: th-cam.com/video/xGmh2fdui_Y/w-d-xo.html
The, "they want to keep you poor" thing always seemed weird to me. Let's just consider something.
The people who make this point generally hate capitalism, let's not beat around the bush. They also say that these people only care about profit, do you see the problem? If they only care about profit, what is the incentive in keeping you poor? If you were richer you could spend more, therefore give them more money. If they cared so much about keeping you poor, they wouldn't allow you to invest and make money. The thing is that capitalism is great, because it allows everyone to get something. It's mutual self interest. There are two ways of making business, through mutual self benefit and cooperation, or through force, in one of these options someone has to lose something. Wanna take a guess which one it is?
By the way, i mean richer in the true sense of the word, richer is not about how much money you have, it's about what you can do with that money. Are you richer if you have a million dollars but can't buy a pizza? Or if you have 100, but can buy a house? Things getting cheaper are like a wage raise, both are increasing your standard of living, because an increase in your wage if costs remain the same, or a decrease in prices with the same wage, lead to the same outcome.
Control is more about power than money.
Anyway, we are about to enter a period of depression, with inflation, the worst of both worlds, i hope you bought some commodities in the last few weeks..... Things are not good. And it's not because "capitalism failed us".
Spending is too high, the debt is ridiculous, the us is 30 trillion dollars in debt, but actually no, it's even worse, because the 30 trillions do not account for unfunded liabilities, the numbers are not for certain, but the general estimate is that put together the debt rises to almost 200 trillions. If people just said no to welfare, 90 % of the problems would disappear, the government would stop printing money and cause inflation, and other stuff.... Let's just leave it at that.
This is not just the us, but the west in general. We are about to face some serious economical issues, and the government seems to be making things even worse, i generally assume that people are smart, but the recent moves from the government are questionable to say the least....
By the way, if you have a financial advisor who is telling you not to invest into commodities because they underperformed in the past, first i want you to consider this, what is the first rule of investing? Past performance is not an indicator for future performance, just because something performed badly or well in the past, does not mean it always will, you have to look at the fundamentals. So if someone is saying this, you should already be cautious of their suggestions, they are not financial advisors, they are just salesman, they know how to make a report, and look at a chart, but they know jack about actual economics. Ask this person to describe the market cycle, i bet they wouldn't even know what you are talking about.
Not financial advise wink wink.
Be careful, not many people actually know economics. The only title you should pay attention to, is something like chief financial officer or something along those lines, but if it's your average joe financial advisor, he or she is probably just a salesman.
Only problem is in Canada we have a thing called Trudeau. If you think the wrong way or act the wrong way this human thing will decide screw you and seize you’re bank and any assets. We must invest in guns first and remove the government before we can live comfortably.
Thank you! We love your videos!
here is another money myth having alot of money makes u rich which it dont
What was the link to market insiders club
This guy is a CPA, therapist, life coach, and so much more! There's like 8 hours of education packed into this 2 hour vid!
Attorney, not a cpa, but i agree he offers tremendous advice
CPA? Child Protection Agency?
@@chilongqua1238 certified public account ..
Thanks Buntee! 😜
He's an attorney by degree.
"You don't buy a house to make money, you buy a house to make memories." Great advice.
I say that depends on if that home is also a place of business.
Agricultural and Horticultural business are often conducted on ones property in near proximity to ones home.
Shiiit lol.
Another one could be: don't buy a house to live in to build wealth, wait and buy the house with wealth.
To these indians everything is about money.
@@Roozhy Zoning laws. Generally most people think of a house as residential, not commercial.
Literally brought me to tears when he was talking about being physically healthy FIRST. Thank you for the amazing video!
Health is wealth. If you don’t have health, you have nothing. Health is your best asset.
I feel you I felt the same way 🥺
Health is wealth!
Snowflake cried over this pouhahaha
Hahaha I’m a doctor 😂 I used to spend all my spare time reading and watching everything about medicine. Now I’m hooked on Minority mindset! Great financial advice!!
Absolutely outstanding video! Jaspreet you are awesome. The advice that you give here is spot on correct. I say this because I am an accountant and an economist. Additionally, I am a seasoned investor. I listen to your videos all the time.
Can you please thank your parents for me. What an amazing blessing they brought into the world (YOU!) The struggles you watched your parents endure, the love you have for your parents, the determination that something wasn’t right, refusing to be placed in a box, created this channel! Awe your such a blessing in my life. You have no idea how much I appreciate this education.
Below
Ditto
I’ve been about 7 years without a car. I’m not even sure if I want to buy one later. It saves so much money!
How do you get around without a car?
@@UnderRatedBeauty88 walking or the bus.
You must live in a northern state
@@UnderRatedBeauty88 State of Texas 😎
@@thatmathkid-anthony6658 oh wow , I’m sure it must be a challenge. I’m in Nc with no car and it’s hard so I can imagine a bigger state
I respect the heck out of this guy even when I disagree with him and I think he's doing the world a good service. Outstanding gentleman.
When you buy a home to live in , you buy it to make memories, not money”. 💯
My favorite parts of this videos are the extreme harsh truths that most folks get offended by. Looking rich vs being rich and the hard real steps of changing your mindset . I love hearing these hard pills to swallow. I wish I heard them sooner in my life
I 100% agree with you but it also depends on who is your partner. You have a partner that has the same goal as you will both will be comfortable by retirement age. It takes time.
❤️ Great content! When I grew up I was told the same things about working hard & saving etc. & then was busy raising 2 sons as a single mom & it took all I had to stay afloat. I lived within my means and sowed all I had into my children’s education, providing for their needs and into community outreaches to help others. I always bought used cars, & then was given an older car. It was a 1980 450 SEL Mercedes that I maintained & drove it for 20 years; then gave it to a friend who wanted it & am now driving a 1990 Nissan truck because it’s handy for the nonprofit projects I’m working on. I’d like to have a new vehicle but it’s OK because I’m wealthy in other ways; my son’s grew up to be honorable men and I know the Lord & HE gives me peace beyond measure.
THANK YOU for teaching people how to improve their lives. I heard about you from Ed Mylett, then subscribed & been watching since. Keep up the great work!
You have a very compassionate heart that's willing to help the masses the free education. Frankly I think you're brilliant.
And what's so beautiful about it you're very passionate to spread this knowledge. God bless you young man.
I really enjoy listening to Jaspreet. My only comment is what you consider a "money pit" is no longer to me since I learned how to repair my home, cars, and just about anything else. TH-cam has a big part in my learning over the years. I never used to fix things until I felt like being taken advantage of many times and vowed to do it myself not only cheaper but with better quality parts.
Same I fix my car myself I dont trust anyone, there are things that a professional has to do though
@@JakeInvest of course. I do oil changes , tune ups, brakes but I cannot do transmission or heavy engine work
Ur great, but I did it the other way. Saved up, bought a house in cash, car in cash, debt free and I’m 41. Than I started investing. I’m 41 and I think That I will be a millionaire before the age of 45.
I was laughed at for so long because I live in LA and I didn't get my driver's license until I was 28 years old. I was taking the bus to get to/from school and work, because I didn't want to spend money on a car as well as all the money to maintain one.
A bus pass for the month was $75 and later went up too $100. I still prefer to commute if possible.
Why wait to get a driver's license until 28 though?
@@charlesung886 didn't need it; the bus dropped me off on the corner of home to my work.
That's awesome! I would've bought a motorcycle . You might die in a crash but you save so much money and time. That's what I did for a while lol
Asset put money in your pocket. Liabilities take money away from your pocket
Lel the worst "investment" you can possibly make is a college degree.
A useless non-STEM degree 📜.
I watch your videos every morning ! Especially on a long drive home and back so it helps !
Be careful driving while watching videos. One car wreck can destroy your wealth for a very long time. Good luck.
Good videos and info
I still cant avoid keeping cash, even after knowing all of these. There is some sense of security you get from having cash in account.
Always own your own home, always. The alternative is renting and paying for someone else's property. You build equity in your home you can tap into to invest, renting provides zero return, renting is a liability. You also gain value appreciation by owning your home. never rent if you can afford to buy, ever!
I somewhat disagree. It depends on the situation the person is in or what the person prefers but renting is equally just as good of an option as owning (depending on the person) . Having its own advantages such as not being stuck in one place, some people like the mobility with renting and overall less responsibilities when housing is concerned and can focus more on wealth building with how much is left from just renting rather than owning. Both options have positives, you mentioned advantages owning a house has, and negatives, which I mentioned.
💯
This is a dumb comment. Renting has the utility of enabling a shorter duration occupancy length. Furthermore, multiple metros have effectively priced out most people to buy.
@@detweiler 💯
The founder of Fundrise rents.
One thing I've never had is a car payment. I just drive beaters for 5 or 6 years then get another beater once repairs become to much. I just started investing and leaning about finances a few years ago. But as far as vehicles I've just never been one to care about what I'm driving.
Why people went back into debt? One key reason is because we live in a culture and society that encourages people to SPEND, SPEND, SPEND and not save, also, living in a CREDIT based financial system makes spending easier and more convenient via the use of credit cards. And actually, the things you're saying in regards to those named brand products and luxury items you often refer to, those types of references (unintentionally on your part Jaspreet) keeps the fire in most people kindled to have those things. They want those things but don't have the desire, drive, or discipline to do what you teach about on how to get them, most people want it NOW, FAST, QUICK, and EASY and without much of an inconvenience.
I've basically always had this mindset, just never really knew or had it broken down for me, thank you for the insight!
Thanks brotha Jaspreet, the plain truth is what we need,but i want you to take it up a level, show us what an real estate tax yield & how to buy one, stock options & how to prosper in any market directions, moreso how to parlee what properly we may now own into airbnb assets and show us what economic plateau we could possibly land on individually
I'm glad I found your channel a year ago. I went from a debt-free saver to a wealth builder. I would not have been able to weather the increase in inflation had I not invested time watching your videos. Thank you, sir.
This story has been told and retold so many times I often wonder why there are so few that are rich. I have applied these principles and I am still working 40-50 Hours every week. Lot of variables in life, Best to all of you.
Thankyou, first person to actually comment without being brainwashed lol
My advice is
Buy a home with a low mortgage in good condition(as in livable, not luxury) lol,
After living in the home you will save because your now paying much less than you would have been paying on rent. Use the extra income to maintain the property and save for a down payment to buy another home. Create a 12 month contract and rent out your house starting on a set date. This now lowers your dti ratio and hopefully give you more income to report. Then go buy a new house, repeat repeat repeat.
Im always cash poor...my 8 properties keeping me from buying thousand dollar belts
Why are you cash poor?
@@barackthecomposer6642 all my cash for down payments
Question for you, What is your reason for waking up everyday? Your reason for living….
👍 That's a good question and a difficult one to answer for many, me included
@@migueldellicarpini4437 there’s a philosophy to it . Not something that can be answered in a day.
I divorced my biggest liability 😂
My brotha 👏🏾👏🏾👏🏾 Brilliant. Thank you for sharing your wisdom 🙏🏾✨
I hate how right you are! Thank you. You really just helped me figure out what I am doing wrong. I know what I need to do now
The things I always wished someone could teach me , I learn with Jaspreet. Thanks man!
Man I wish I would have known this 10 years ago. Thanks for all this information
1:54:50 "MORE MONEY CAN NOT FIX STUPID"😭😭😭 When can we get this tshirt Jaspreet?
Rentals turn into money pits all the time .
Tell me about it, my uncle had to pay the mortgage for a year on a property that some jerk lawyer was refusing to pay rent on.
How, in your case?
@@barackthecomposer6642 let's see. Last one I saw happened last week . was a basement wall imploded because of snowmelt runoff flooding a normally almost impossible area for floods it's now partially full of mud and there's a huge car hood sized upward tilting hole in the wall by the electric box going outside into the yard . And his homeowners insurance does not want to pay out but yet is getting the place condemned. It's about 15k to have it dug up with a backhoe and fixed fwiw some Insurance companies can be real sleazeball ops . . I happen to be a construction worker so i get to see lots of rental and other partially paid off or bank owned money pits . As well as repair jobs
@@sidharthchand8072
What was the excuse that LAWYER used to refuse payment for a year?
@@agoogleaccount2861
Yikes!
The so-called real estate investor gurus don’t reveal these type of negative details at their expensive workshops and they’re expensive turnkey programs.
Jaspreet: "☝🏼 when you go and buy stuff from Amazon you don't need..."
Me: 😬 *feels attacked*
Awesome vid 👌🏿
He never lied they want to keep you poor. Give you a job and give you 40 hours. Get another part time job and add a couple 100 they take some of your hours. Invest and they keep your hours lower than everyone else. Keep you from getting paid more. Even give you the worse jobs and hope you quit.
Owning a home to live in actually is an asset if you have the right mindset. I'm only paying about 550 a month on my home which gives me extra money to invest vs renting.
You can also take out loans while owning a house risk free. If you take out a 40,000 dollar loan while renting and you end up having to move out then it's going to be a lot harder to find a place to rent since they will be looking at your debt-income ratio.
Last point is that every month you pay on your mortgage you are basically putting money in your bank to use at a later time. If you pay off 30,000 dollars in 15 years and your home goes up in price by about 20,000 then guess what? You can refinance your house and pull out that 50,000 dollars you have in your house and use it to invest.
🤣🤣🤣🤣🤣😃
@@SLEEP8313 do you own a house and have a family?
Well a $300k home is so far out of my budget lol
Boy! You are brilliant! I thought I knew a lot about money but I am one of those who bought into the propaganda about the house. You are right a house can be a money, as can be the other liabilities. Thank you most kindly for this very very informative video bravo! Nicely done! 👏🏾👏🏾👏🏾
Indeed” keep” is the key word. Every six months the banks creating an Escrow shortage on your house payments even when paying principles down over several years. The banks have become the “Bank Robbers”
I am going to try and get my parents to watch this video. I have been trying my best to explain it, but maybe coming from someone else, with an amazing way of explaining it without sounding condescending will help. Awesome video!
Thank you.
Wow dude. Fucking finally a video I can send my wife. She will finally get the message. She might accuse me of paying you to make this vid. You speak so much knowledge
"This making making money-thing is kinda fun".
Excellent summarized 😂👍
I’m still poor because your videos are too long and I don’t have any time left in the day to make any money. 😒
The “car warranty “ people hung up on me when I told them I own a 1998 Dodge Ram van.
They should teach you nothing but this from middle school on
I rent a decent house and I seem to have a WHOLE lot more money and less stress than those who have all these great investments in real estate. I dont even have to mow my own grass and I dont pay property taxes. I dont ever think about my roof or sewer line or having to put a water heater on my credit card. I'll eventually buy a house and it will be in CASH.
You will own nothing and be happy. Good luck buying a house in cash during the Great Reset
i used to think like that, now i am building equity and saving to get a duplex and i will rent out my condo . i paid $95000, in less than 2 years i have it down to $85,000, the condo next door just sold for $165,000... My mortgage is $513 and my HOA is $420... thats $933 a month , and i dont have to cut the grass.. the condo 2 houses down rents for $1800 a month , i live in the Tampa area,. I have a 401 k , an IRA, an emergency fund, an 815 credit score and 0 credit card debt , paid my car off 5 years ago,; thank god i listened to jaspreet, Ben Mallah , raham, and Dave Ramsey . i share their teachings with others. TH-cam changed/saved my Life ! open your mind and try something different.Thoughts become things, if you can see it in your mind, you can hold it in your hands . Keep Hustlin !
@@wantitwrite I'm waiting for the over inflated market to come down a bit. I guess I'm waiting for the great reset lol
@@thefishhobbyist5478 I'll just move somewhere better then lol
Just got kick out my rental! Only been renting from my nice landlord for 10 years. All good ill go buy a property at 50 percent higher then it was 2 years ago .
You’re the best! Greatest educator ever
Money is emotional. Work and don't be paid right and be qualified for more
wow ! this is incredible ! In my opinion One of the best videos you have ever done ! i have shared many times . thank you for educating !
This might be the most valuable video I’ve ever seen. Thanks so much. Also, your beard is amazing haha I wish I could grow one that gnarly!
Great information. I've been hearing for years that we need to get a financial education but never knew how to get that kind of education until I found your channel. Thank you for sharing your knowledge.
Hello ☮️ thank you Sir for your time and help with financial literacy. You explain everything so well I can hear you and understand. I give thanks 🙏🏽 ☮️
This is like a movie. I like when they're shorter. While good topic would've liked it split or put in chapters.
Focus your attention. Dont let tik tok/social media destroy your attention span
I like longer videos, actually.
Kick that rock then
Watch 15 minutes & save the timestamp you stopped at. Next time watch another 15 minutes & so forth. Not that hard to do 🙂
This is an incredible video. I've learned more from this two hour video than I have Dave Ramsey. Or other TH-cam "Financial Experts".
Jaspreet thank you so much for all the advice brother. Much respect and love for your channel.
Thank you for such great information
I think you are very knowable. I had a lot of money in the the stock market. The crash came I lost almost every thing. I pulled out of the market an went into real estate. I was al most broke. I started fliping houses. I did well. Then I took some money a got back in the market. I started buying things whole sale. All this hapenened when I was in my forty’s. Mean while I got divorced an lost half. I was almost broke. I went into growth funds. I bought stocks wholesale. Now I am 71 with smart investing now I have over 800000$. I think I did well .I worked hard. It payed off. I never thought I would this happen. Now I have know debt. I enjoy my self. Rich I watch you all the times. Smart people with know knowledge should watch you an listen.
I love these videos so much I knew nothing about financial literacy until I started watching. Now I'm thirsty for my knowledge
Cargo van monthly payments are 600-800 a month and are easily converted for living in. Play smarter, not harder
For Californians, weather permits you only have to worry about ventilation. Cafes and Starbucks are everywhere, have free electricity and wifi, so these are not priorities. Public restrooms are all over. Truck stops have showers and wet towels/baby wipes go a long way. Massage tables have adjustable legs so you can park at inclines and still sleep level. Buy 2 $100 massage tables so you can fit a decent sized mattress on it, this also gives you storage underneath. Keep a portable toilet for emergencies but otherwise you really only need to be there to sleep, otherwise there are cafes and libraries and work to do. Stay safe, pick only the best neighborhoods, good luck 🤞
Thank you so much for your videos ! You are an inspiration and incredible person to follow ! I wish you the best new year ahead! Happy 2024 ! Thank you so much for all the value lessons and mindset !
Great Video! Appreciate Your knowledge
Bro I think you're gonna launch a webseries next week, I'm waiting for webseries
This video is excruciating!
You only think your depressed then you realize your life is nothing more than the punchline of a really bad joke.
I Couldn’t make it past 50 mins but good luck to rest of you.
We started doing secret Santa to save money instead of buying every single person gift we just buy one person. Family is keep extending every year🤦♀️
Thank you for this valuable information. I appreciate you teaching this.
This guy is amazing, I have watched so many videos about investing and how to make money smart and this guy is the first i really understand.
I will for sure keep listening and try to do the things he says.....he seems pretty legit and does not hide anything. For sure i will keep listening and following.
Love your humour, articulation and rant haha. Brilliant content. Really enjoying it. 👏
Thank you so much for so much education...real education for wealthy and healthy life. 🙂
Always learning from these videos, amazing content. This is how I get my day started.
It's about balance. I don't want to be wealthy and live like a bored penny pinching loser. I'll take living above average and having fun while I do it any day. I pay all my bills and have money saved for my kid. What more do you want.
🙏🏿✝️
Well done my good and faithful servant :-)
Mind blowing 🤯🤯….thank you for all this knowledge
I really like these videos and am sharing them with my kids… but one important thing I think is missing from these videos is how important credit rating is! Yes, cars and homes are liabilities… but if you’ve bought well within your means that monthly car payment or that Less Than 9% balance on your credit cards will build your credit scores and saves you on health, home and car insurances. Wealthy people also know how to use their credit to their advantage!
These are very valuable lessons rich people would charge people hundreds for and we appreciate your aptitude
Money, Morals, philosophy.
Wholistic and awesome.
“When the student is ready the teacher will appear” How I feel since your channel found me.
BINGO U HIT THE NAIL RIGHT ON THE HEAD. I TELL MY FAMILY WHY U GO OUT AND BUY A CAR THATS MORE THAN YOUR INCOME. THEY BUY A CAR THATS 50,000 AND THEIR INCOME A YEAR IS 40,000 A YEAR.
Jaspreet got it down pack he didn't stubble in words n speaks so simple n clear that a child can get rich, in other word I got educate yourself to instead of working hard for money let money work hard for you. Thank you
Watching this fellow is awesome. Such wisdom from someone so young. I wish I'd found this fellow years ago, such insight!
Thank you for your teaching. One or the few Subscribers that I listen too. You make a lot of (cents) 😅 get it but please keep up the good work brother 👍🏿
Some coworkers I work with don't speak English. Can you go through the steps on video on how they do calculations such as 15% of net pay. They don't understand how percentages work. ( You really are incredible, and have changed lives THANK YOU from the bottom of our hearts 💕💕💕💕💕💕💕💕💕💕 !!!!!!
You bring the sauce, thank you for your constant motivation
Thank you for sharing this information. I'm a very tired, exploited nurse who really needed to hear this today.
I certainly love ur explanation
YOU’RE AWESOME!!! Keep it up,Thank You!!
Thank you for this! I needed this so much!
Great video.. just a general comment.. I being in a Sikh family.. the major expenses I see in our society are weddings..houses.. and cars.. I try my best to stay out of trend.. constantly working to retrain my brain..
Jaspreet you are the man Bro 😎 Awesome video! Keep them coming 🔥🔥🔥
Is it really a smart idea to recommend buying a rental property right now? 😬
I own land but I don’t want to go in debt to build a house to rent. What other ways can I use this land to produce income?
Hi Jaspreet,
Thanks for creating such a great video and content. Kudos to your team for putting these educational videos. In multiple videos, you've explained to start building wealth by rental properties.
But major elephant in the room is how a landlord can protect themselves from evacuation situations where renters are not able to pay rent and it is their primary home?
Can you please guide on such situations and how a homeowner can place their guards in-place?
Thanks!
Understood most of the info many years ago. I'm a Worker (IT related with OK salary), buy stocks in the company on a regular agreement with discount. I do not want to climb the ladder. Own my house that steadily goes up in value, loans payed off. I have no interest in rentals and such, very boring. For many years have been able to regularly long term invest in a stock portfolio to spread the risk. In a few years I can retire if really want to, have interests to fill a day with for a long time.
I love investing and finding ways to build wealth, it’s like a game!
Don't doctors also wrack up like 6 figures in student debt too?
yea but a doctor makes 300-500 a year and can pay that off their first year....
regular jobs that makes under 100k that require a degree or worse a master's are going to be stuck with a student loan for a long time
What if you buy and live in a Duplex as your first house? hmm
Bruh you be pounding this info into peoples heads!
Jaspreet, none of this matters if the WEF has its way.... We will all be living in a pod, eating the bugs, owning nothing and be happy..... (Yea right)
The holiday part has me crying 😂 talmbout I just looked at my Calendar and it’s coming back next year 😂🤣 haha I actually learn a lot from you love this podcast! Love the way you help me understand.