I’ve got a favour to ask! If you enjoy this, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this ❤🙏🏾 really appreciate you! x
Does TH-cam offer a pension? Just say'n. Might want to look at the employment opportunities offered in today's world. Oh 8 million subscribers you don't need any help bro. Why don't you try helping others? Just say'n.
This advice should be reframed as "Don't buy a house you can't afford". I bought my house earlier this year and I have never felt so much stability in my life. I ran the numbers endlessly and stuck to my budget so I wouldn't be house poor. Being house poor prevents you from building wealth, not the sole act of buying a house.
Your mortgage doesn’t go up as fast as your earning potential can though. Said another way: I can keep climbing the ladder and making more money faster than my property taxes will rise.
Where will you live, will you rent? Because everyone says that but never say I rent or don’t rent so don’t buy a house because you can make more money than what that house will get you in the end. I bought a house 127k my sister rents and pays the same as what I pay mortgage and insurance together. When I sell this house I get whatever the house is sold for minus what I owe the bank. My sister that rents can’t get anything at all not even their deposit. I will always buy a house instead of renting.
I’m from Hull, UK, where careers advice was to be a builder or hairdresser. At 18, unemployed after Army training, I was told to give up on graphic design and aim for McDonald's or factory work. I took a risk and landed a junior web designer job. Two decades later, I run a digital agency. Don’t let where you’re from or others’ opinions define you. Work hard, think smart, and keep learning. In the UK, education, schools really need looking at
Wow, that's where I'm from too. The career opportunities were so bad in Hull I had to move. Would love to have my own digital consultancy business at some point but so far managed to build a good career as an employee
Yes the system is rigged to keep us poor. Start life with uni debt, become a salary slave and just survive enough to pay bills and debts. No life or reality skills are taught in school 😢
Happens to anyone, in the south west I was also pushed to try and consider changing from IT and digital to caring and teaching or just get a job filling shelves in tesco
I'm a 48-year-old doctor feeling burnt out from long hours and stress. I've never invested in a retirement portfolio because I've always believed the economy would collapse eventually. However, I plan to retire soon and I'm curious: If you had $1 million to invest safely in stocks over 4-5 years to grow, how would you start?
I believe every investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
Opting for a financial advisor is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with one for a while, and my portfolio has grown by 85% since Q4 2022.
Impressive! I admit I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
She goes by “Annette Christine Conte I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
Great! mind if I look up your advisor please? only invest in my 401k through my employer as of now, but enthused about investing for my eventual retirement.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, "Judith B Richards" turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thank you for saving me hours of back and forth investigation into the markets. found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
I wished people watched the whole episode before commenting. For starters, he never said to not buy a house. He said to not buy a house you can't afford and explained what affording meant. As someone who's looking into buying a house, I have seen my friends buy homes they can't afford and as a result are house poor. Sure they're saving some by not renting but they've pretty much sacrificing everything to pay the bills. This is the first time I came across him, and unlike the wanna be financial gurus, he seems to speak with clarity in simple words and keeps it factual instead of hyping things off. He comes off as a kind human being who genuinely wants ppl to grow and do well, just like he has done for himself. And one last thing I liked about him was that he keeps using the word 'wealth' instead of 'rich.' Good stuff 👍.
Forget the nice car, fancy clothes, impressing people that are in forever debt. Only impress your net worth. It's a lonely mindset until you roll in the circles of like minded ppl period. You are the people u spend the most time with. In 14 years I bought my home outright, I own my car. I just have to pay property taxes. My solar pays my electric bill. I can literally live on 1k per month income.
The tips here are excellent but for me balance is very important. Save every month but do not deprive yourself. Savings is a priority, but not to the extent that you feel so tied down and deprived.Tomorrow is not promised. I knew a woman who worked hard for many years oversees. In her many yrs of working she used one same coat. She saved a lot, built 20 units of rental properties and a year after her retirement she got hit by a bus in Italy. She didn’t enjoy her whole life, saving for the future she didn’t experience. So save for the future but do not deprive the present.
Enjoying life has different meanings for different people. Perhaps she was enjoying and becoming happy while working hard, saving, investing and buying assets which for her was a purpose. Perhaps, she would not have enjoyed spending her money and spending free time without a purpose. Who knows!
You read my mind. Well done. Putting all your energy in Wealth of future, without enjoying the RESOURCE called time NOW, it’s a nonsense. The Key is: Live Well, save a bit, invest a bit, laugh a lot with likeminded people and your loved ones.
This is a very informative video, although I'm still confused. I'm worried about retirement planning and I want to ensure a comfortable future. I've worked hard my entire life and I want to enjoy the fruits of my labor without financial stress. I'm really concerned about whether I've saved enough and invested
That's true. Assess to reliable information and professional guidance is key to success in investing. That's where a CFP comes in. You should definitely consider working with one
I have been advised on that for a while, but finding one who understands what I want and can work with me to that accord is whom I'm in search of. Any recommendation please?
Yes I do, I recommend JOSEPH NICK CAHILL to you. He is a renowned figure in his field. I recommend him to you because I've been where you are and understand your need for an open ear
Pension??, Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Indeed, Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
No doubt being financially free and not having to worry much about health care and other expenses especially after retirement cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
I’m approaching retirement and have saved $650,000 outside my pension account. Given the long-term nature of pension investments, how can I optimize my retirement account for maximum growth? My goal is to retire with 2-3 million within 5 years.
I totally agree; it's ideal for a newbie or near-retiree to consider advisory services in order to avoid mistakes. At first-hand experience since the 2020 pandemic crash to date, I've gained over $2.7M ROI after subsequent investments. IMO, nothing beats expertise.
Good gains! I basically have cash sitting duck in the bank, but with rising inflation, my savings seem threatened. I want my money to work for me even after retirement; how can I connect with your advisor/coach, if they mean the same thing?
'Glen Howard Chester' is a renowned figure in the financial sector with over two decades of experience and a consistently exceptional performance record. I'd suggest you research him further on the web.
People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
It's recommended to save at least 20% of your income in a 401k. 'Joseph Nick Cahill' taught me to estimate how much you should save based on your age and income. I've been with him for years now and his decades of experience in the markets translate to chunks of value in so many ways! he has upscaled my portfolio and even got me reading self help books haha
Joseph Nick Cahill is his name. He is regarded as a genius in his area and works for Empower Financial Services. He's quite known in his field, look-him up.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon
I am a single mom and a hair stylist of 15 years. 1 year ago, I was scrounging for change and drinking too much because I was depressed and at a loss for a future vision. I started watching videos like this and made the change. Life was already crap, so I had nothing to lose. As of right now, I don't live pay check to paycheck anymore and I'm investing my savings while still having enough for an emergency in the bank. The peace of mind and spirit this small step forward has brought me is priceless. I haven't bought myself clothes in 2 years and I eat stuff like Ramen still 😂 I was doing thay anyway, so what's the big deal? PLEASE head the advice in this video. Study, learn, build your future. Become free! 🙏🙏
Congratulations on the winning mindset for your future! I hope you will also see the value in investing in your health with a quality diet as a priority pillar for success! I am taking the time to watch this twice with my girlfriend because this is the best perspective I’ve ever seen on the subject! Bless!
@@sunmoonstars3879I agree. No amount of money saved will correct failed health. We still have to take care of our bodies in the process of saving money. 🙏
You guys talk about a wife/partner as a liability. And women play into it because they are taught from a young age to “marry well”. I married at 19 and after 13 years of getting him through college he decides he’s unhappy leaves the marriage and me with two kids. After that I decided I would never allow myself to be at the mercy of another’s whims. I worked two,jobs went to school at night got my accounting degree then a law degree. Today I am married to a wonderful person who worked hard and supported me in building my business. After 12 years we sold my business and invested 80% and used 20% to buy a nice home and a vacation home on the beach all debt free. This is true generational wealth.
@@jjmartin6422It seems like waiting to get married bites men too. If you get married later you're less likely to have a partner that builds with you and more likely to be looking through partners who are evaluating what you built.
amazing how many people didn't listen. He said ''I'm not saying it's bad to own a house, I'm saying its bad to own a house you can't afford'' and then went into all the costs associated and figuring out if you can afford it.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54. opposite of 45.😂😂
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I'm 61 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
I hear you, and it's certainly a tough period for many. It must be incredibly challenging to see your hard-earned savings slowly dwindle with the rising cost of living. It's difficult to not feel disheartened and discouraged. I definitely agree that the current events and economic situation can feel like a crooked system, especially after you've worked so hard for so long. The most important thing now is that you're not alone in this. Many are going through the same thing and there's strength in unity and mutual support. It might be worth considering speaking to a financial adviser to help navigate this tricky time if not already doing so. They can provide tailored advice for your situation. Personally I’ll recommend ‘Sophie Kathryn Jones’, she’s a SEC and FINRA licensed expert.
I have worked with a few financial advisors before now, but I ultimately settled with ‘Sophie Kathryn Jones’. She has built a reputation for creating highly personalized financial plans tailored to each investor's unique goals, risk tolerance, and financial situation. She takes the time to understand her clients' long-term objectives, whether it's saving for retirement, funding a child's education, growing wealth for future generations, or diversifying 401k and IRA. She works closely with her clients to help them diversify their portfolios, reducing the risk of significant losses in any one asset class. She also ensures her clients' investments are well positioned to withstand market volatility and economic downturns. She’s known in her field, look her up!
All thanks to the expertise of Sophie Kathryn Jones. She takes the time to understand her clients' long-term objectives, whether it's saving for retirement, funding a child's education, growing wealth for future generations, or diversifying 401k and IRA. She works closely with her clients to help them diversify their portfolios, reducing the risk of significant losses in any one asset class.
Did same and I’m already getting valuable informations and strategies from her. Information is the key. As much as many complain, people are getting paid.
"Yo, Jaspreet out here wrecking my plans! 😅 Been stacking cash for years-$158k in my emergency fund, feeling proud-and now I’m told not to buy a house OR expect a pension? Great. Guess I’ll just invest, but seriously, where do I even start? Stock market roulette? Crypto chaos? Help me out here, Jaspreet!"
Congrats on the $158k stash-solid work! 💪 But don’t stress; the ‘no house, no pension’ thing isn’t gospel. A balanced plan is key. I was in your shoes but hired a financial advisor, and it changed the game. They helped me align my goals with smart investments. Think about it-it’s worth it
Totally get you both! I know I need an investment advisor, but how do you even find someone legit? There's so much noise out there, and I don’t want to waste time or money. Any tips?
"There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s known in her field, look her up."
This is the first long form podcast that I'm absolutely going to watch a second time in full. So much wisdom here. Thank you Mr Singh and Mr Bartlett 🙏
I know this isn't the point of the video but as a Sikh, I can't understate how proud of Jaspreet I am. Not trying to take credit for his success or anything like that but seeing Jaspreet on a mainstream platform like this makes you extremely proud as a Sikh as we as a people are largely marginalised and rarely seen.
Sikhs in the UK have always integrated, contributed to the country, are the kindest, most polite , helpful , warm people. I wish other minorities in the UK were the same.
They fought bravely and sacrificed many - with the British in both world wars, they will always have my utmost respect and they're just awesome people too. Whenever I see a turban I know they are true brothers & always give a friendly wave - they probably wonder why a middle aged bald white guy is waving 😃
Rarely seen is an odd turn of phrase considering how distinctive Sikhs are ;) Probably easily dismissed by many on that basis though. Does standing out in that way make it easier not to go along with crowd?
They had a poll in Finland and I am not kidding. They asked the general population what they think is the most likely way for a person to accumulate wealth. The absolute majority said "Winning the lottery".
Unbelievable! I listened to Dave Ramsey every single day, and saved 23,000 in 4 years, I just did what he said. I was a low paid school teacher here in Florida.
Its sarcasm people. This guys advice is so self serving and convoluted and unfeasible for anyone in the middle to low incomes that it's embarrassing. I feel embarrassed for him. He is so ignorant to the reality of everyday people. Income is 1250, tent is 1250. Save what?
Imagine listening to this for free. Where do I start? I guess it's never too late to do something to improve my financial health. Thank you for this talk.
53:41 Jaspreet Singh portfolio includes: Real estate 50 % Companies 15 % ETFs 15 % Speculative assets (incl. crypto) 18 % Gold 2 % 2:21:00 Best books to read: Robert Kiyosaki - Rich Dad, Poor Dad Dave Ramsey - The Total Money Makeover G. Edward Griffin - The Creature from Jekyll Island 2:21:40 Read even more Five books on money management and investing Five books on personal development and self-development Five books about how to start a business Five books on leadership Five books on how to scale market and grow your business
@@s4mmu3l Please stop propping these people up as if they are geniuses. Lying is as old as time and it's not a stroke of genius to lie to suit your own self-interests.
@@lvega5606 A fact: "You don't need to buy a house to be successful". Because every house or apartment is an investment. You can compare all investment possibilities there are. Calculate, and you'll find out. So, someone may be renting, and use savings to buy stocks, for example. Warren Buffett said buying stocks is his favorite hobby. Some other may think that owning a house is the most important investment, because they are not willing to pay rent. That may be good for them. But, regardless what ever decisions you do, you should calculate and compare probable profits, risks, etc.
He said this all so perfectly. I wish I had understood this when I was younger. “Most people are trying to climb the corporate ladder. Wealthy people are trying to own the corporate ladder.” This was all brutal and amazing.
This is a well elaborated financial lesson. I am an economist and I have not heard a simple, layman teaching that incorporates real economic concepts, backed by stats as this one... Keep them coming. Thanks guys
Buy land and get a mobile home. Property tax is cheaper. I bought a big plot of land that came with a mobile home. It cost me what rent would’ve cost me for 2 years in a city. I have privacy, big trees that give me fresh air, I can hear nature, my property tax is low because it’s a mobile home, I have my own well water that doesn’t have fluoride, I have electricity, I put in a woodstove as a back up plan, It’s super cozy, easy to heat and cool, low maintenance when I leave for months the winter. It’s cozy, I’m not trying to impress anyone or show off a big fancy home. I got some nice appliances that works well for me and I recommend people to do the same!
I'm 32, found myself struggling mentally so I started psychotherapy, trying to find my steps in this world - having to deal with so many stuff internally plus all these ideas (business relevant or not) that popup in my head every day and yet trying to find my way to financial freedom plus guaranteeing a better life for me, my family the future family I want to create. This video podcast describes exactly what I'm going through and gives me exactly the information I need, right here, right now!!! Thank you both for existing on this universe, this earth, at this time!!! See you at the top!!!
This is my fifth year after retirement. I’ve been following the 4% rule thing, but this isn’t really how hard I expected things to be. I still have about $460k outside funds in my IRA to invest in stocks. Pls how do I take advantage of the market turnaround?
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately $950k that same year. In reality, all I was doing was getting professional advice.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, *Izella Annette Anderson* turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Sophie Lynn Carrabus is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
This man is on point with everything he has said. Honest and Accurate information. Thank you Mr. Jaspreet Singh for your service to humanity. Thank you Mr.Barlett for being such a great host, job well done.
Mindset, what Jaspreet preaches a lot. It does help that my current job makes me over 6 figures, but I still spend as if I were making less than half of that. More money does not mean more spending. Being more mindful with my finances and educated on how to make it work for me has helped a lot. Wealthy? No. Secure? Absolutely 😊
After about 10 episodes, I’ve noticed a clear difference in Steven’s energy during interviews. He’s genuinely engaged and happy with guests he finds interesting (like the divorce guy) but less enthusiastic with others he interviews mainly for his audience (like the UFO guy). It’s clear to me that he thoroughly enjoyed this conversation. Needless to say, fantastic content, I can't believe this is free. Loved it!
I don’t usually click and watch anything to do with financial advice. Until today. I’m one of those who have always thought, I’m just no good at making money or investing or using it to add wealth, etc.. I don’t know if it was the pink turban or the classy looking dude and his cool beard, but I decided to watch. And boy am I glad I did! What a brilliant show with oodles of practical, clear, interesting and inspiring and intelligent advice! Everything he said really made sense and gave me hope and confidence to make the steps to start improving my financial situation. 👍🏻👍🏻🙏🏻 Thank you!
*Today I reached $220k. I am really grateful for all the knowledge and information you have given me over the past few months. I started with $15k in January.*
I know that woman (Julie Gilbert) If you were born and raised in new York you'd know too, she's my family's Broker for 3yrs till now and a very good one if you asked me. No doubt she is the one that helped you get where you are!!!!
I think this is good advice, but better for people who are closer to retirement. My opinion for young people is you need to be grounded , avoid debt. i save and invest around 40 percent of my income with a good nursing job, and I live upstate MN. My expenses are extremely low. I have zero debt on a 7 figure portfolio, low rent and car paid off. So i can just save. feel lucky and grateful my cfa came into play.
watching this while coding / programming is the best motivation. . . building my business while being an employee is the best thing I can do while others are looking for promotion.
Good job starting so young. I did not wake up til I was 40 and realized I had 30k in debt and was late on a mortgage pmt. Now at 53 I have a paid off house and a net worth right at 900k. Just wish I started sooner
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Carol Vivian Constable for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Thank you for this, I believe this interview is the most comprehensive discussion in regard to mindset that I have heard👏🏿🔥 Hypothetically, if I could only save one of my TH-cam downloads and all the others would be lost forever, this would be the 1 video. This conversation is that good 💪🏿
@@divine9100this is very dumb if we had this so called all dominate patriarchy you wouldn’t be able to even speak besides asking what do you want for dinner. Capitalism when exploited is bad but when it works it is the best system so far. As a woman you have the opportunity to actually get from the bottom too the top or at least comfortable. As of right now we have no system that offers anything better.
I live in Canada. I bought a house back in 2020 worth 345000 with 20% down. I pay 1000/month in mortgage. 200/month for insurance. I rent the basement for 1500/month and live on the main floor with 3 beds 2 baths which is very comfortable for me. If I want to rent the same type of house it would cost me 2000/month. So I do not think a house is a bad investment. It's a blessing for me. I am living for free and have a positive cash flow every month.
I bought my home 4 years ago... I pay $1,800 in mortgage, 3 beds, 2 baths, garage, in ground pool (currently not useable) and almost 2 acres of land, it has nearly doubled in value... Meanwhile rent in this area is going for over $2,000 a month.... Do not buy something you can not afford, be realistic.
Easy to say if you live in a country or region that has affordable rent. In Canada the amount for rent is more than a mortgage payment in most cases! Why throw away that money? I'd sooner live in a van than rent until I can buy
I am so glue to this video topic..He said it real, we were never taught about money in school and in tertiary education..Rich dad Poor dad said it is not how much you are making but how much you save up....
the part about not being cheap is so crucial > my mentor used to say: 'you dont question the cost of the shovel when you're digging for gold' - good accountants and good employees and investment in good technology to do your business are all shovels, dont be cheap, it will only slow you down long term.
Living cheaply, and not being afraid to look poor is how I have wealth today. I drove my 1998 Saturn SL for 11 years, even after getting a job as an engineer. My coworkers would often comment, “Do we even pay you?!” “Do you work for free?!” Then I finally saved up enough to buy a house, but I rented the 3 other rooms and made sure to be able to profit on the mortgage if I moved out. Mortgage Total/Rooms had to be less than $750 room. I now own 3 houses and it’s because I minimized the $ going out (buying used everything and not having any payments on anything) and maximized the $ coming in (side businesses like doggy sitting, doggy walking, renting kayaks and SUPs, etc).
I had a great job in IT making great money! I purchased 3 brand new vehicles with price tags I’m to embarrassed to say😖 Wow! I lived and learned! Now I rather learn and live! We always have it backwards 🙏🏽🌹
My first car was 10 years old and so ugly it was free. I drove it for 11 yrs even got a rebuilt engine after 8 years for $600. Cheap insurance. Next car I bought new and used for 16 years. I always had money for life and investments.
Its always interesting reading comments on videos that talk about these things. So many people are so biased towards owning their home that they ignor the maths and dont even give the maths a chance. Maths dont lie people....sometimes its financially beneficial to buy your house.. sometimes its financially beneficial to rent a house. There's always other factors...but always remember to do the maths first!
Facts. One person's numbers is gonna be different from another person's numbers. If I'm making $20K a year and you're making $200K a year, we ain't working with the same numbers.
My favorite part of the numbers: when you own a home, no one is gonna raise the rent. I’ll take that (and the fact ownership has hidden costs most people don’t plan for) over sudden increases. Also no one is gonna yell at me when I decide to remodel😂. *acknowledge that taxes increase but not like my rent did one year by increasing my rent from 1000 to 1500 + the hidden costs like sudden failure of major appliances or need for structural repair*
Maths don’t lie. It’s even better to own a home that you rent to others. My sister-in-law managed to finally pay off her house, although she nearly lost it during the pandemic. She now lives with an elderly relative and rents that other home out. Money in the bank every month for her retirement, and a property to sell if she needs to. The thing people forget about real estate is that it’s real. It has actual value, unlike a currency.
This is simple. Buy a home that you can afford after figuring in all the financial factors. Then live below your means until you have enough money and means to buy a better home without selling the original home. Rent the original home at a rate that pays your mortgage x 2 extra. Now you have an asset and a home. I did this and am very happy with my first home now paid off and the rent is pure passive income. Plus the house has doubled in value as well as the home I live in. A simple method for an ordinary person like myself. It works.
Im happy i got a house I can afford now. i can save and as well invest, and once my wife starts working that xtra cash flow, we can invest in another house
This podcast was transformative. I listened to it twice and it generated lots of excitement that now I have to harness into action. Thanks so much to the both of you for all you do to inspire and educate.
One of the biggest takeaways here for me is when he said stop watching Netflix and that's not because you're going to see $15 a month it's because you're going to save 2 hours a day of your time😮😮😮❤
Calling a purchase to live in a liability, while calling a purchase to rent out an asset misses the fact that you still need to live somewhere. A rental property may be putting money in your pocket, but it's replacing the money that you spent on your own rent. I still agree that renting can be better than buying if you diligently invest the money you would otherwise spend on a more expensive mortgage payment, and/or you invest the capital that would have been the down payment. But that "if" is critical, and not everyone is diligent enough.
I think it boils down to how much renting vs owning costs, if owning is 3x the rent and making you live paycheck to paycheck it’s a different situation as well. Owning is a life long commitment renting is short term. It’s up to the person if they are able to continue building wealth while owning a house. Just my take I’m 25 and looking at buying a home but it’s only because I know I’ll be able to continue investing. Investing has grown my wealth by 40k in only the past 3 years ive been able to invest
You address the real factor that makes you wealthy...the ability to save. Paying rent requires that you are also a diligent saver indepentent of your housing situation. Being a homeowner is essentially a forced savings vehicle. Not a great one, but if you're a terrible saver with no discipline, owning a modest house may be the only way you can build wealth...from a behavioral standpoint.
@@FirstLast-zw8ip He addressed it. You said you park yourself in a place that you can AFFORD. If you're a broke loser with no income or savings, you park yourself in a tent or a relative's couch.
I'd love to get into Real Estate investing. However, near me, the auctioned homes opening bids are $100k+ cash only. And these are ROUGH homes. Am I looking at this incorrectly? If we're starting out, having $100k laying around is rare.
We need more people like this telling us truth! Just finished reading Hidden Manifestation by Oliver Mercer. Its fascinating what they hide from society.
If you don't find a means of multiplying your money, you will wake up one day and realize that the money you thought you had, had been exhausted. Investment is a ladder to climb the financial wall.
You are absolutely right everyone needs more than their salary to be financial stable. The best thing to do with your money is to invest it rightly, because money left for saving always end up used with no returns.
I live alone and live in a two bedroomed house I bought for £60k back in 2013 when I was only making £1000 per month after tax. A do'er upper and drive a £4k Volvo. I live in a very secluded area where high earning jobs are overly satiated with applicants every time. I save £1000 per month with my current job and my house is already worth £100k in the 10 years I've owned it and only have £20k left to pay on the mortgage. But I'm happy being here. I don't need to move up on the property ladder. I only make £44k a year here in the UK which isn't that much at all and I work 12 hour shifts.
I would suggest you to consider getting on the property ladder and slowly decreasing the amount of time you work. Your growth is a great but don’t ever stop growing you have potential so please don’t stop yourself from achieving more.
Shows like this that show the average person how to grow money similar to what they are working are pure gold. Thank you!! Many times shows go over how to grow existing wealth and not from a humble beginning. Best wishes all!
As a house owner, I've never been more miserable. I was more happy and financially stable when renting. Let's make it normal to be financially free from banks. Thank you for this podcast!
Owning a house can be a huge pain in the ass. I think in addition to "doing the math" people need to be real about what will work for them and what type of person they are. I hate doing the dishes, let alone dealing with things like leaky faucets, etc. Some people do those things without a second thought.
If one makes money but doesn’t spend it, there’s no inspiration or joy-it’s like being a bank, merely holding money with no purpose. True financial freedom comes from using money wisely to create happiness, experiences, and security within your budget. Money is a tool, not the goal.
I grew up in Section 8 housing from ages 8 to 18. My family moved from the projects to a middle-class neighborhood where our neighbors were police officers, a pilot, a painter, barbers, an FBI agent, teachers, firefighters, and other people who were considered well-off. The neighborhood had amenities like a pool, putting range, skate park, and BMX track. In the '80s, the rent for our 3-bedroom, 2-bath, 1,100 sq. ft. condo was $700 a month. My mom, who never made over $40K a year, paid $200 a month, with Section 8 covering the rest. As a kid, I thought we were rich because of the things other kids at school would say about our neighborhood. It wasn’t until I was about 20 that I learned about Section 8 and realized we were actually poor. For the past 20 years, I’ve been renting homes in middle-class neighborhoods to Section 8 families. My goal is to give kids, just like I was, the hope of becoming more than they ever imagined-simply by growing up in a better environment.
This was one of the most common sense, basic easy to understand presentations on the basics of accumulating wealth for all persons. You are a superior teacher.
Listening to this very interesting talk makes me realise that people with money have no idea how some of us have to survive and furthermore not everyone has the ability to make a lot of money before retirement no matter how hard you work we have to live within our means and enjoy the simple things in life.
there was an interesting experiment in the UK a decade or so ago (I think by the BBC), where they tested Brits who consider themselves lucky and Brits who said they do not have any luck. They put them (unknowingly) in scripted scenarios, where they would for example find a 10 pound note on the street, while walking to a different place (not even knowing it was part of the test). Those who considered themselves lucky, found the 10 pound note and started to explain how it is proof that they are lucky. Those who considered themselves unlucky, walked past the bill and did not even see it. If your brain does not expect anything good, it won't look for anything good and you won't find anything good. That's an important lesson here. This is how mindset matters.
isnt there also studies which show "lucky" "earned it" more than others. I cant say it is lucky mindset spesific but it certainly exists. that is good view why doomerism can work as spice but need to be careful to balance different aspects of life very carefully.
We bought our first home in 2019 for 179k ($1000 down with new homebuyer program in Idaho) and sold it in 2021 for 350k and then moved to Mississippi and bought an acre with a cute house on it for cash. Not the easiest path but we did turn our first home purchase into an asset. We basically lived in it for free. My only regret is we didn’t do it sooner. We rented for ten years and that money is gone and the landlords treated us like garbage- made us move twice when I had a brand new baby or was big pregnant. If we’d bought sooner we’d have been in a million dollar home when we sold in 2021.
We bought our current house in 2016. It would now cost us twice our monthly mortgage payment to rent a comparable house in the local area. After less than 25 years of payments we'll never have to pay another mortgage payment but if we were renting we'd still be paying and have had 25+ years of rent increases. Without my house I'd be facing homelessness in old age on a meager pension.
Wow congrats on taking advantage of the huge upswing in prices. You did really well. Just so you know though, what happened recently in home price appreciation is not the norm. Houses don't usually appreciate that fast. In fact, it could've worked out in the opposite direction where you bought the house for $350k and 2 years later it was worth $179k. Real estate is about timing and it seems you lucked up and timed it perfectly.
In the last 4 years, I have established a business. I'm a single mom, but I'm extremely frugal. I do not go out to eat much. I cook at home. I wear a uniform to my own business. I do not get my hair or nails done. I do those things myself, and I'm happy. It's funny to know that I've had celebrity friends of mine ask me for loans to pay for their bills. I'm proud to be a simpleton. They don't put my picture up on their Instagram accounts so no one knows I know them. I just know them on a personal level. How is it that they live and look flashy, and yet they are borrowing money from me? I'm building wealth, and they are struggling. I know their truths. I don't care about flashiness. I know who I am.
As a home owner I’ve diversified into other sectors that have been less chaotic. With a good investment plan that ensures steady income without any doubts I and my wife are prepared for a well organized retirement. I started investing in stocks 2 years ago and so far, I am making a good yield on my dividend. I've learned that getting a good return is very much attainable only if you know your way around it.
You say it like it's easy forgetting that not everyone is as lucky as you are. I've tried to invest in the past without much progress. How are you able to do it?
It's totally far from luck. Sir Jonas Herman, a CFA has consistently outperformed the market ever since I got on his program. He has continued to put my $25k to good use with market driven strategies making me an optimal return of over $131k
No. If you CAN AFFORD TO, then buy a house. If you're paying the same amount or in many cases MORE for rent than a mortgage, it's worth it to get your own home just on security and peace of mind alone. Being able to sleep at night knowing I don't have thoughts of being kicked out of my house any moment is worth every penny towards my own house, even if that was 20+ years in the making.
Median rent in 2000 was $607. Median rent in 2024 is $2,025. That's 333.66%. You are insane if you don't buy a house quickly esp when your government prevents development of new housing supply.
I guess it depends on where you live. In Dallas, TX I was renting out a 3 bd 2 ba house for $1150. I sold the house but according to the comps for the area I could now get about $1750. Still a huge jump but not 333.66%
@@trina2100 Forgot to specify it's California. The legislative gov just prevented the development of 14k units of new housing. It's going to worsen when it comes to affordability here.
SO TRUE what he said about Mindset. Jaspreet is the reason I started creating financial goals and making changes in how I saved. Amazing conversation. So happy for to see Jaspreet here. Keep rocking !
The richest ppl I have in my friend group left their 9-5 to take chances with their savings for Airbnb and own their own insurance business. They scaled their air bnbs. They understand money. It’s so cool to learn from them.
In the U.K. the government has made it much less profitable to be a landlord. You can’t claim hardly any costs now off your taxes. You pay high rates of tax and now you can’t ask tenants to leave easily, the rights are all on the side of the tenants. We are selling our rentals now, after about 20 years of being landlords, and it’s a relief to know we don’t have the worry of the properties
It's amazing we aren't taught finance and economics in school. People also don't educate themselves. 2000 for an emergency fund is nowhere near enough unless you have bank of mum and dad.
I just saved up enough for 20% of an apartment. I have my own business. It’s doing better than I ever could have imagined but I’m trying to educate myself on money so I listened to this. Some good tips, so thank you
@ I just became a contractor in what I was already doing. Im an Occupational Therapist and I’m a clinician. Just stopped being an employee, my profession is in demand and became a private practitioner. I’ve experience in my specific industry, I can do the work quickly and mostly second nature and as a profession we’re in demand. So why do it for somebody else. Now I get referred individuals assessments to represent companies. Your mindset to work changes significantly when how much you work becomes proportional to how much you earn
I dunno, I'm 37, I have 68k left to pay on my mortgage, 1.4percent interest - its worth almost 200k more than I paid. I have had this house for almost 4 years. The key is to not fall for postcodes and just google areas that are within the bubble of those postcodes. I live in a large 5 bed house. It needed some work initially - but it was livable. I find most people go for these new builds, which are sold as this amazing new area to live, thy are sold at a premium and the house itself is small and the worksmanship often poor.
well, if everyone earned a lot of money from imaginary $8k condos, then nobody would work. we wouldnt have doctors, so we would live like in the middle ages with a 34 maximum year lifespan.
Jaspreet is the TRUTH! Love and appreciate him for educating me for years. For those of us born to families who aren’t financially savvy, and who’ve “made it” - we are so fortunate to have him impart such wisdom.
In my family, you had two options: (1) be a LAWYER or (2) be ordinary. Very similar! The difference is that my folks never dreamed that any of us could become a lawyer. They would have settled for a physician, which is still ordinary as you work with your hands. THIS GUY IS GREAT!
My mortgage stayed the same for decades! My rent was raised each year. I saved lots of money living in my house. Dont buy a house you cant afford. Stop buying new cars.
Yes! People don’t think about the future. I tried to get my sister to buy the house next to me but she thought it was too much. I’m still paying $2,100 a month for a 4 bedroom with a pool, while she is now paying $3,500 for a 2 bedroom rental (mind you, the house is also 100 years old and has constant problems). What is the rent going to be like in 20, 40, 60 years from now?
Save as fast, as hard and as young as you can. Buy a house and pay it off as fast as you can. The effort you put into that will be less than the effort of paying an increasing rent for 65+ years. There’s a world of difference between going to bed on a night knowing you have to service large monthly debts, and being mortgage free. Can’t afford the house you want? Get a starter home or move area. Only live in the south east if your salary aligns with the cost of living. Best scenario, earn a role that pays you a premium salary while being able to live in a cheaper area. It’s not rocket science. Too many people want everything now, at a standard that’s unachievable. Work when you’re young, play later.
Ok. Nice comment. But whats with ppl that never change thier worker mind and never jump up from thier original position until pension? They will work for us, making the world GDP...
Unless your mortgage rate is 6-7% or higher (unlikely), do not pay it off as quickly as possible. Save and leverage that extra money and invest it in a low cost Stock Index Fund (maybe in a Roth account), where you will historically make 7-10% a year. You'll end up ahead :)
@@Radoslav-gk7wu that’s like saying, I like eating chocolate, I only ever eat chocolate because I enjoy it. Oh no, I now have diabetes. You have to make decisions in life. Eat the food you don’t ‘like’ because it’s good for you or eat the food you like and suffer the consequences. Stay in the job you like where you’re comfortable but don’t achieve financial freedom, or take a job that’s more challenging but gives you more financial opportunity’s. You can’t have your cake and eat it.
Great chat. I don’t agree with house renting, buying a mug is a terrible comparison. People should know one thing, the ability to grow wealth is dependant on how much you spend, NOT how much you earn. And, we are not educated financially because we have to be kept desperate so we keep doing awful jobs to keep the wheels of society turning.
I dont understand his line of thought. He's relying on a bunch on constants that aren't constants. For eg; his explanation on passing on your house to your kids means that person needs to have kids in the first place... When we know that isn't always the case. I dont have kids, my house has tripled in value and the maintenance is low.. so all his points are completely bunk. There are too many unknowns with these things and its the same old story with these "gurus" where they rely on selling books or some 5 step program so he can make his own wealth based on shoddy advice
You're too invested into the conversation. There is not a one size fits all approach. The line of thinking he is illustrating is from one who doesn't understand the principals of money.
,I agree the rental thing doesn't make sense to me. If you can pay your mortgage early, you can have less interest! There is something called overpayment here in Europe.
I listened like a greater wax moth and watched this entire video like a hawk as gems literally fell out of Jaspreet Singh's mouth. On the cusp of age 57 and quite literally sandbagged with a house and property that was gifted to me, I am unemployed and have no income except for an allowance of approximately $ 200 a month. I have placed my home on the market and am waiting and waiting for a buyer. The fact that I am in Sri Lanka, which is yet at a stalemate in terms of an extremely high cost of living, magnifies my situation. I just wish that I had come across this kind of information much earlier.
He’s not wrong about buying a home. BUT, with so many people buying properties as an investment, that means someone has to pay rent bc all the properties have been purchased by a few people instead of spread out amongst single family HOMEowners. Only INVESTORS can own property bc they drove the price up. At least, that’s what I’ve seen.
It's like our basic need for shelter and safety as humans has just become commodities for those that can afford and are willing to do so to exploit those that have no choice but to rent
Yup!… This what so many miss. The advice is great BUT we are in a different time!… “Buying an affordable house” means for so many they won’t own. It’s definitely challenging. I was able to purchase in 2021 but it took quite awhile, and I don’t know if I would buy now. I know religion is not a big thing for everyone, but God opened the door for me to get my home. The timing was good for me. I actually decided to rent out my home and move somewhere free and much much smaller. Is it uncomfortable? Yes… but 2-3 years of this sacrifice will be worth it.
I’ve got a favour to ask! If you enjoy this, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this ❤🙏🏾 really appreciate you! x
Always.
Solid interview! We need more financial literacy in the world 🙏
Great video
I absolutely love your content Jaspreet! We need you in all schools. This should be on the school curriculum.
Does TH-cam offer a pension? Just say'n. Might want to look at the employment opportunities offered in today's world.
Oh 8 million subscribers you don't need any help bro. Why don't you try helping others? Just say'n.
Thank you for having me on! I appreciate the opportunity 🙏🥑
Shut up
You are brilliant, thank you for sharing!
We appreciate the extra guac that’s always served up!
@@MinorityMindset jaspreet bhai, keep up the good work.
@@MinorityMindset thank you!
This advice should be reframed as "Don't buy a house you can't afford". I bought my house earlier this year and I have never felt so much stability in my life. I ran the numbers endlessly and stuck to my budget so I wouldn't be house poor. Being house poor prevents you from building wealth, not the sole act of buying a house.
This makes sense. Thank you
Excellent advice
Your mortgage doesn’t go up as fast as your earning potential can though.
Said another way: I can keep climbing the ladder and making more money faster than my property taxes will rise.
that makes much more sense to me.
Where will you live, will you rent? Because everyone says that but never say I rent or don’t rent so don’t buy a house because you can make more money than what that house will get you in the end. I bought a house 127k my sister rents and pays the same as what I pay mortgage and insurance together. When I sell this house I get whatever the house is sold for minus what I owe the bank. My sister that rents can’t get anything at all not even their deposit. I will always buy a house instead of renting.
I’m from Hull, UK, where careers advice was to be a builder or hairdresser. At 18, unemployed after Army training, I was told to give up on graphic design and aim for McDonald's or factory work. I took a risk and landed a junior web designer job. Two decades later, I run a digital agency. Don’t let where you’re from or others’ opinions define you. Work hard, think smart, and keep learning.
In the UK, education, schools really need looking at
Wow, that's where I'm from too. The career opportunities were so bad in Hull I had to move.
Would love to have my own digital consultancy business at some point but so far managed to build a good career as an employee
Well done you
* perfectly stated. There's always bad advice on social media. Sometimes, its meant to advantage the youtuber.
Yes the system is rigged to keep us poor. Start life with uni debt, become a salary slave and just survive enough to pay bills and debts. No life or reality skills are taught in school 😢
Happens to anyone, in the south west I was also pushed to try and consider changing from IT and digital to caring and teaching or just get a job filling shelves in tesco
I'm a 48-year-old doctor feeling burnt out from long hours and stress. I've never invested in a retirement portfolio because I've always believed the economy would collapse eventually. However, I plan to retire soon and I'm curious: If you had $1 million to invest safely in stocks over 4-5 years to grow, how would you start?
I believe every investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
Opting for a financial advisor is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with one for a while, and my portfolio has grown by 85% since Q4 2022.
Impressive! I admit I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
She goes by “Annette Christine Conte I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
Great! mind if I look up your advisor please? only invest in my 401k through my employer as of now, but enthused about investing for my eventual retirement.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, "Judith B Richards" turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thank you for saving me hours of back and forth investigation into the markets. found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
I wished people watched the whole episode before commenting. For starters, he never said to not buy a house. He said to not buy a house you can't afford and explained what affording meant. As someone who's looking into buying a house, I have seen my friends buy homes they can't afford and as a result are house poor. Sure they're saving some by not renting but they've pretty much sacrificing everything to pay the bills. This is the first time I came across him, and unlike the wanna be financial gurus, he seems to speak with clarity in simple words and keeps it factual instead of hyping things off. He comes off as a kind human being who genuinely wants ppl to grow and do well, just like he has done for himself. And one last thing I liked about him was that he keeps using the word 'wealth' instead of 'rich.' Good stuff 👍.
I agree I've noticed that on many of the videos but the real winners will truly listen all the way
Forget the nice car, fancy clothes, impressing people that are in forever debt. Only impress your net worth. It's a lonely mindset until you roll in the circles of like minded ppl period. You are the people u spend the most time with.
In 14 years I bought my home outright, I own my car. I just have to pay property taxes. My solar pays my electric bill. I can literally live on 1k per month income.
Ppl just slow man
He also said not to watch TV for two hours or more, which is the length of this episode. What irony
It's because too many people online are short attention span idiots who cannot fight the impulse to voice nonsene
The tips here are excellent but for me balance is very important. Save every month but do not deprive yourself. Savings is a priority, but not to the extent that you feel so tied down and deprived.Tomorrow is not promised. I knew a woman who worked hard for many years oversees. In her many yrs of working she used one same coat. She saved a lot, built 20 units of rental properties and a year after her retirement she got hit by a bus in Italy. She didn’t enjoy her whole life, saving for the future she didn’t experience. So save for the future but do not deprive the present.
Enjoying life has different meanings for different people. Perhaps she was enjoying and becoming happy while working hard, saving, investing and buying assets which for her was a purpose. Perhaps, she would not have enjoyed spending her money and spending free time without a purpose. Who knows!
So sad ☹️😞
You read my mind. Well done. Putting all your energy in Wealth of future, without enjoying the RESOURCE called time NOW, it’s a nonsense. The Key is: Live Well, save a bit, invest a bit, laugh a lot with likeminded people and your loved ones.
😢😢😮
Yeah okay. She had peace of mind with that same coat. If she lived long enough she was a champion. Enjoy life. Good luck.
It’s surprising how people are only scratching the surface and don’t take the time to read Zyphura Money. Go out of the rabbit hole guys
Is it like that?
This is a very informative video, although I'm still confused. I'm worried about retirement planning and I want to ensure a comfortable future. I've worked hard my entire life and I want to enjoy the fruits of my labor without financial stress. I'm really concerned about whether I've saved enough and invested
I completely understand. Ensuring
financial security in retirement is
crucial. Have you considered
consulting a financial advisor?
That's true. Assess to reliable information and professional guidance is key to success in investing. That's where a CFP comes in. You should definitely consider working with one
I have been advised on that for a while, but finding one who understands what I want and can work with me to that accord is whom I'm in search of. Any recommendation please?
Yes I do, I recommend JOSEPH NICK CAHILL to you. He is a renowned figure in his field. I recommend him to you because I've been where you are and understand your need for an open ear
You can look him up online, his website will direct you on how to reach out to him
Pension??, Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Indeed, Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
No doubt being financially free and not having to worry much about health care and other expenses especially after retirement cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
Consulting with a financial consultant can provide personalized insights and help align your investment strategy with your retirement goals.
I’m approaching retirement and have saved $650,000 outside my pension account. Given the long-term nature of pension investments, how can I optimize my retirement account for maximum growth? My goal is to retire with 2-3 million within 5 years.
I’d suggest you consider financial advisory. Working with a well-experienced advisor can save you the cost of any fiasco.
I totally agree; it's ideal for a newbie or near-retiree to consider advisory services in order to avoid mistakes. At first-hand experience since the 2020 pandemic crash to date, I've gained over $2.7M ROI after subsequent investments. IMO, nothing beats expertise.
Good gains! I basically have cash sitting duck in the bank, but with rising inflation, my savings seem threatened. I want my money to work for me even after retirement; how can I connect with your advisor/coach, if they mean the same thing?
'Glen Howard Chester' is a renowned figure in the financial sector with over two decades of experience and a consistently exceptional performance record. I'd suggest you research him further on the web.
I looked him up and found his consulting page. I’ve got to say his credentials are truly impressive! I've scheduled a call to discuss further
People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
It's recommended to save at least 20% of your income in a 401k. 'Joseph Nick Cahill' taught me to estimate how much you should save based on your age and income. I've been with him for years now and his decades of experience in the markets translate to chunks of value in so many ways! he has upscaled my portfolio and even got me reading self help books haha
Impressive! How can I contact this advisor? My portfolio has underperformed, and I need guidance.
Joseph Nick Cahill is his name. He is regarded as a genius in his area and works for Empower Financial Services. He's quite known in his field, look-him up.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon
I am a single mom and a hair stylist of 15 years. 1 year ago, I was scrounging for change and drinking too much because I was depressed and at a loss for a future vision. I started watching videos like this and made the change. Life was already crap, so I had nothing to lose. As of right now, I don't live pay check to paycheck anymore and I'm investing my savings while still having enough for an emergency in the bank. The peace of mind and spirit this small step forward has brought me is priceless. I haven't bought myself clothes in 2 years and I eat stuff like Ramen still 😂 I was doing thay anyway, so what's the big deal? PLEASE head the advice in this video. Study, learn, build your future. Become free! 🙏🙏
Congratulations on the winning mindset for your future! I hope you will also see the value in investing in your health with a quality diet as a priority pillar for success! I am taking the time to watch this twice with my girlfriend because this is the best perspective I’ve ever seen on the subject! Bless!
Congrats on seeing the light and taking the step(s) to a better future you will control.
Congratulations now ditch the crap diet and start taking care of yourself, you are what you eat.
@@sunmoonstars3879I agree. No amount of money saved will correct failed health. We still have to take care of our bodies in the process of saving money. 🙏
You must be one incredible woman. I don't know you but respect for what you managed to do.
You guys talk about a wife/partner as a liability. And women play into it because they are taught from a young age to “marry well”. I married at 19 and after 13 years of getting him through college he decides he’s unhappy leaves the marriage and me with two kids. After that I decided I would never allow myself to be at the mercy of another’s whims. I worked two,jobs went to school at night got my accounting degree then a law degree. Today I am married to a wonderful person who worked hard and supported me in building my business. After 12 years we sold my business and invested 80% and used 20% to buy a nice home and a vacation home on the beach all debt free. This is true generational wealth.
Sounds like you're one of the good ones. You ran the race with your guy, instead of just waiting at the finish line.
Did your parents raise your 2 children?
@@jjmartin6422It seems like waiting to get married bites men too. If you get married later you're less likely to have a partner that builds with you and more likely to be looking through partners who are evaluating what you built.
@@heykikewould you ask that a male entrepreneur too?
@@thinkbig5438 she said she was left with 2 kids, ur not thinking so big , are u
amazing how many people didn't listen. He said ''I'm not saying it's bad to own a house, I'm saying its bad to own a house you can't afford'' and then went into all the costs associated and figuring out if you can afford it.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54. opposite of 45.😂😂
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
Do you bots get bored of posting the same stupid scams??
I'm 61 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
I hear you, and it's certainly a tough period for many. It must be incredibly challenging to see your hard-earned savings slowly dwindle with the rising cost of living. It's difficult to not feel disheartened and discouraged. I definitely agree that the current events and economic situation can feel like a crooked system, especially after you've worked so hard for so long. The most important thing now is that you're not alone in this. Many are going through the same thing and there's strength in unity and mutual support. It might be worth considering speaking to a financial adviser to help navigate this tricky time if not already doing so. They can provide tailored advice for your situation. Personally I’ll recommend ‘Sophie Kathryn Jones’, she’s a SEC and FINRA licensed expert.
I have worked with a few financial advisors before now, but I ultimately settled with ‘Sophie Kathryn Jones’. She has built a reputation for creating highly personalized financial plans tailored to each investor's unique goals, risk tolerance, and financial situation.
She takes the time to understand her clients' long-term objectives, whether it's saving for retirement, funding a child's education, growing wealth for future generations, or diversifying 401k and IRA. She works closely with her clients to help them diversify their portfolios, reducing the risk of significant losses in any one asset class. She also ensures her clients' investments are well positioned to withstand market volatility and economic downturns. She’s known in her field, look her up!
All thanks to the expertise of Sophie Kathryn Jones.
She takes the time to understand her clients' long-term objectives, whether it's saving for retirement, funding a child's education, growing wealth for future generations, or diversifying 401k and IRA. She works closely with her clients to help them diversify their portfolios, reducing the risk of significant losses in any one asset class.
Wait till the tariffs hit your pocket book, and they get rid of social security and Medicare. We are all in a world of hurt.
Did same and I’m already getting valuable informations and strategies from her. Information is the key. As much as many complain, people are getting paid.
Jaspreet was my first ever exposure to financial literacy 5 years ago, when I was 21. Cant imagine where I'd be without him!👏🏾
"Its very difficult to speak logic to an emotion" very true statement. Most of our decisions on how we spend money are based on emotions.
"Where you put your attention is where you get the results". This is such a great line, and life lesson that's so true. Thank you.
it's kinda crazy how nobody's talking about the forbidden ebook called Zyphura Money by Hunter Zypher
"Yo, Jaspreet out here wrecking my plans! 😅 Been stacking cash for years-$158k in my emergency fund, feeling proud-and now I’m told not to buy a house OR expect a pension? Great. Guess I’ll just invest, but seriously, where do I even start? Stock market roulette? Crypto chaos? Help me out here, Jaspreet!"
Congrats on the $158k stash-solid work! 💪 But don’t stress; the ‘no house, no pension’ thing isn’t gospel. A balanced plan is key. I was in your shoes but hired a financial advisor, and it changed the game. They helped me align my goals with smart investments. Think about it-it’s worth it
Totally get you both! I know I need an investment advisor, but how do you even find someone legit? There's so much noise out there, and I don’t want to waste time or money. Any tips?
"There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s known in her field, look her up."
Just looked her up-Linda Aretha Reeves seems like exactly what I needed to finally get my financial journey on track. Appreciate the recommendation!
Watched Linda on a Bloomberg finance summit four years ago-her presentation was fantastic! Really sharp insights. You’re in good hands with her.
This is the first long form podcast that I'm absolutely going to watch a second time in full. So much wisdom here. Thank you Mr Singh and Mr Bartlett 🙏
I know this isn't the point of the video but as a Sikh, I can't understate how proud of Jaspreet I am. Not trying to take credit for his success or anything like that but seeing Jaspreet on a mainstream platform like this makes you extremely proud as a Sikh as we as a people are largely marginalised and rarely seen.
❤🇬🇧
I’m South Asian Muslim and also proud of him!
Sikhs in the UK have always integrated, contributed to the country, are the kindest, most polite , helpful , warm people. I wish other minorities in the UK were the same.
They fought bravely and sacrificed many - with the British in both world wars, they will always have my utmost respect and they're just awesome people too. Whenever I see a turban I know they are true brothers & always give a friendly wave - they probably wonder why a middle aged bald white guy is waving 😃
Rarely seen is an odd turn of phrase considering how distinctive Sikhs are ;) Probably easily dismissed by many on that basis though. Does standing out in that way make it easier not to go along with crowd?
They had a poll in Finland and I am not kidding. They asked the general population what they think is the most likely way for a person to accumulate wealth.
The absolute majority said "Winning the lottery".
Unbelievable! I listened to Dave Ramsey every single day, and saved 23,000 in 4 years, I just did what he said. I was a low paid school teacher here in Florida.
@@Candy-O1776 the USA and most European countries are very different when it comes to finances due to how the government runs things.
Winning the lotto?!?wow
Polls? Well.. they are not accurate... they are easy to ruin with a few phones now...
Can’t believe this content is free. One of the best episodes. Admirable episode!!
It's not free. You're paying with TH-cam Premium and Watching Ads
Listen!!!
Nothing is free in the world
He mustve read Rich dad poor dad
Its sarcasm people. This guys advice is so self serving and convoluted and unfeasible for anyone in the middle to low incomes that it's embarrassing. I feel embarrassed for him. He is so ignorant to the reality of everyday people. Income is 1250, tent is 1250. Save what?
after i read book Money Ancient Magic everything changed for me!
big recommendation, this book is so goated
Are you rich now?
@@Shiibaihow much did it boost your wealth?
@@Peepppinpppper lol
@@Peepppinpppper dude xD?
Imagine listening to this for free. Where do I start? I guess it's never too late to do something to improve my financial health. Thank you for this talk.
53:41 Jaspreet Singh portfolio includes:
Real estate 50 %
Companies 15 %
ETFs 15 %
Speculative assets (incl. crypto) 18 %
Gold 2 %
2:21:00 Best books to read:
Robert Kiyosaki - Rich Dad, Poor Dad
Dave Ramsey - The Total Money Makeover
G. Edward Griffin - The Creature from Jekyll Island
2:21:40 Read even more
Five books on money management and investing
Five books on personal development and self-development
Five books about how to start a business
Five books on leadership
Five books on how to scale market and grow your business
Best comment yet! Thanks for the TLDR
What's interesting is this is the opposite of the advice that Ramit would give (the other money guy guest that Bartlett had).
real estate portfolio is 50% but then he saying dont buy a house.. just to rent it to you, then put up rent every year.. some people playing chess
@@s4mmu3l Please stop propping these people up as if they are geniuses. Lying is as old as time and it's not a stroke of genius to lie to suit your own self-interests.
@@lvega5606 A fact: "You don't need to buy a house to be successful". Because every house or apartment is an investment. You can compare all investment possibilities there are. Calculate, and you'll find out. So, someone may be renting, and use savings to buy stocks, for example. Warren Buffett said buying stocks is his favorite hobby. Some other may think that owning a house is the most important investment, because they are not willing to pay rent. That may be good for them. But, regardless what ever decisions you do, you should calculate and compare probable profits, risks, etc.
He said this all so perfectly. I wish I had understood this when I was younger. “Most people are trying to climb the corporate ladder. Wealthy people are trying to own the corporate ladder.” This was all brutal and amazing.
“You don’t know what good looks like.” This is SO true!! So so so true! Don’t be in a rush. Take your time.
This is a well elaborated financial lesson. I am an economist and I have not heard a simple, layman teaching that incorporates real economic concepts, backed by stats as this one...
Keep them coming. Thanks guys
Buy land and get a mobile home. Property tax is cheaper. I bought a big plot of land that came with a mobile home. It cost me what rent would’ve cost me for 2 years in a city. I have privacy, big trees that give me fresh air, I can hear nature, my property tax is low because it’s a mobile home, I have my own well water that doesn’t have fluoride, I have electricity, I put in a woodstove as a back up plan, It’s super cozy, easy to heat and cool, low maintenance when I leave for months the winter. It’s cozy, I’m not trying to impress anyone or show off a big fancy home. I got some nice appliances that works well for me and I recommend people to do the same!
This is the way.
Enjoy your trailer 🤣🤣🤣🤣🤣🍆
@@bobzacamano658sounds like he is..
Do you have children in school? This sounds good but it all depends on ur circumstances.
@@KaydeneJ yes and what about hurricanes ... how would it be able to withstand a hurricane and some of the crazy weather that we're having
I'm 32, found myself struggling mentally so I started psychotherapy, trying to find my steps in this world - having to deal with so many stuff internally plus all these ideas (business relevant or not) that popup in my head every day and yet trying to find my way to financial freedom plus guaranteeing a better life for me, my family the future family I want to create. This video podcast describes exactly what I'm going through and gives me exactly the information I need, right here, right now!!! Thank you both for existing on this universe, this earth, at this time!!! See you at the top!!!
I’m so glad you had Jaspreet on as a guest. I’ve been watching him for over a year now. And I love how simple his money messages and education are.
This is my fifth year after retirement. I’ve been following the 4% rule thing, but this isn’t really how hard I expected things to be. I still have about $460k outside funds in my IRA to invest in stocks. Pls how do I take advantage of the market turnaround?
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately $950k that same year. In reality, all I was doing was getting professional advice.
@@hunter-bourke21Impressive can you share more info?
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, *Izella Annette Anderson* turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
@@PatrickLloyd- Hello, I'm curious to give this a try. Please who is your advisor and how do I get in touch?
Sophie Lynn Carrabus is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
This man is on point with everything he has said. Honest and Accurate information. Thank you Mr. Jaspreet Singh for your service to humanity. Thank you Mr.Barlett for being such a great host, job
well done.
I’ve been watching Jaspreet for years, love his financial knowledge and insights, so happy to see him on DOAC! 😊
Are you wealthier after watching him for years? If not, what improved in your life?
Mindset, what Jaspreet preaches a lot. It does help that my current job makes me over 6 figures, but I still spend as if I were making less than half of that. More money does not mean more spending. Being more mindful with my finances and educated on how to make it work for me has helped a lot. Wealthy? No. Secure? Absolutely 😊
After about 10 episodes, I’ve noticed a clear difference in Steven’s energy during interviews. He’s genuinely engaged and happy with guests he finds interesting (like the divorce guy) but less enthusiastic with others he interviews mainly for his audience (like the UFO guy). It’s clear to me that he thoroughly enjoyed this conversation.
Needless to say, fantastic content, I can't believe this is free. Loved it!
That divorce guy is the BEST, so far!
I don’t usually click and watch anything to do with financial advice. Until today. I’m one of those who have always thought, I’m just no good at making money or investing or using it to add wealth, etc.. I don’t know if it was the pink turban or the classy looking dude and his cool beard, but I decided to watch. And boy am I glad I did! What a brilliant show with oodles of practical, clear, interesting and inspiring and intelligent advice! Everything he said really made sense and gave me hope and confidence to make the steps to start improving my financial situation. 👍🏻👍🏻🙏🏻 Thank you!
His channel and daily newsletter is pretty good too.
Yes Jaspreet is the best! Keep following him.👏👏
Same here 😅
*Today I reached $220k. I am really grateful for all the knowledge and information you have given me over the past few months. I started with $15k in January.*
Please how ?
Am a born Christian and sometimes I feel so down 😭 of myself because of low finance but I still believe God 😔
It's Julie Gilberts doings, she's changed my life. A BROKER- like her is what you need.
$356K monthly is something you should feel differently about....
I know that woman (Julie Gilbert)
If you were born and raised in new York you'd know too, she's my family's Broker for 3yrs till now and a very good one if you asked me. No doubt she is the one that helped you get where you are!!!!
I think this is good advice, but better for people who are closer to retirement. My opinion for young people is you need to be grounded , avoid debt. i save and invest around 40 percent of my income with a good nursing job, and I live upstate MN. My expenses are extremely low. I have zero debt on a 7 figure portfolio, low rent and car paid off. So i can just save. feel lucky and grateful my cfa came into play.
please can i get your consultants info? or should i drop mine for a private chat ?
A full life is filled with mostly mundane moments.
i feel i downplayed the role of FA's in the past.. now actively looking to get one.
Wrong
watching this while coding / programming is the best motivation. . . building my business while being an employee is the best thing I can do while others are looking for promotion.
That is literally what I'm doing right now, big up man👊
@@lefikaletsatsi8959 Also, go to the GYM to make sure to stay healthy for the long term. :-)
Good job starting so young. I did not wake up til I was 40 and realized I had 30k in debt and was late on a mortgage pmt. Now at 53 I have a paid off house and a net worth right at 900k. Just wish I started sooner
investors like you should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
Pls how can i meet this advis0r? i want someone to help me invest an Inheritance, i dont want to lose it to inflation
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Carol Vivian Constable for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Thank you for this, I believe this interview is the most comprehensive discussion in regard to mindset that I have heard👏🏿🔥
Hypothetically, if I could only save one of my TH-cam downloads and all the others would be lost forever, this would be the 1 video. This conversation is that good 💪🏿
This is the sad state of our world! The purpose of life has becoming making money rather than trying to make the world a better place.
When was it ever universally about making the world better?
It's exhausting thanks to Patriarchy and Capitalism!!
It's exhausting thanks to Patriarchy and Capitalism!!
@@divine9100the patriarchy and capitalism makes your life better. Grow up
@@divine9100this is very dumb if we had this so called all dominate patriarchy you wouldn’t be able to even speak besides asking what do you want for dinner. Capitalism when exploited is bad but when it works it is the best system so far. As a woman you have the opportunity to actually get from the bottom too the top or at least comfortable. As of right now we have no system that offers anything better.
I live in Canada. I bought a house back in 2020 worth 345000 with 20% down. I pay 1000/month in mortgage. 200/month for insurance. I rent the basement for 1500/month and live on the main floor with 3 beds 2 baths which is very comfortable for me. If I want to rent the same type of house it would cost me 2000/month. So I do not think a house is a bad investment. It's a blessing for me. I am living for free and have a positive cash flow every month.
Hi..what city did you decide to buy your rental home?
@@Stardust12397 calgary
It's partially a business. Excellent work.
@@Stardust12397 calgary
@@nevillewhite3451 It's a good business and ROI is better than any investment.
I bought my home 4 years ago... I pay $1,800 in mortgage, 3 beds, 2 baths, garage, in ground pool (currently not useable) and almost 2 acres of land, it has nearly doubled in value... Meanwhile rent in this area is going for over $2,000 a month.... Do not buy something you can not afford, be realistic.
Exactly. My mortgage payment is 2.5 times less than what I'd pay in rent for my own house.
Easy to say if you live in a country or region that has affordable rent. In Canada the amount for rent is more than a mortgage payment in most cases! Why throw away that money? I'd sooner live in a van than rent until I can buy
Jaspreet is here?? What a legend! This random guy on the internet taught me soo much about money!
everything you can learn without this person
I am so glue to this video topic..He said it real, we were never taught about money in school and in tertiary education..Rich dad Poor dad said it is not how much you are making but how much you save up....
the part about not being cheap is so crucial > my mentor used to say: 'you dont question the cost of the shovel when you're digging for gold' - good accountants and good employees and investment in good technology to do your business are all shovels, dont be cheap, it will only slow you down long term.
This is one of the MOST valuable interviews I’ve heard so far! 🙌🏽🙌🏽🙌🏽
Living cheaply, and not being afraid to look poor is how I have wealth today. I drove my 1998 Saturn SL for 11 years, even after getting a job as an engineer. My coworkers would often comment, “Do we even pay you?!” “Do you work for free?!”
Then I finally saved up enough to buy a house, but I rented the 3 other rooms and made sure to be able to profit on the mortgage if I moved out. Mortgage Total/Rooms had to be less than $750 room. I now own 3 houses and it’s because I minimized the $ going out (buying used everything and not having any payments on anything) and maximized the $ coming in (side businesses like doggy sitting, doggy walking, renting kayaks and SUPs, etc).
I had a great job in IT making great money!
I purchased 3 brand new vehicles with price tags I’m to embarrassed to say😖
Wow! I lived and learned!
Now I rather learn and live!
We always have it backwards 🙏🏽🌹
My first car was 10 years old and so ugly it was free. I drove it for 11 yrs even got a rebuilt engine after 8 years for $600. Cheap insurance. Next car I bought new and used for 16 years. I always had money for life and investments.
Its always interesting reading comments on videos that talk about these things. So many people are so biased towards owning their home that they ignor the maths and dont even give the maths a chance.
Maths dont lie people....sometimes its financially beneficial to buy your house.. sometimes its financially beneficial to rent a house.
There's always other factors...but always remember to do the maths first!
Facts. One person's numbers is gonna be different from another person's numbers. If I'm making $20K a year and you're making $200K a year, we ain't working with the same numbers.
@@madvillainy6845that person making 200k is in debt keeping up appearances. the person making 20-40k a year is saving more
My favorite part of the numbers: when you own a home, no one is gonna raise the rent. I’ll take that (and the fact ownership has hidden costs most people don’t plan for) over sudden increases. Also no one is gonna yell at me when I decide to remodel😂.
*acknowledge that taxes increase but not like my rent did one year by increasing my rent from 1000 to 1500 + the hidden costs like sudden failure of major appliances or need for structural repair*
You're totally right!
Maths don’t lie. It’s even better to own a home that you rent to others.
My sister-in-law managed to finally pay off her house, although she nearly lost it during the pandemic. She now lives with an elderly relative and rents that other home out. Money in the bank every month for her retirement, and a property to sell if she needs to.
The thing people forget about real estate is that it’s real. It has actual value, unlike a currency.
This is simple. Buy a home that you can afford after figuring in all the financial factors. Then live below your means until you have enough money and means to buy a better home without selling the original home. Rent the original home at a rate that pays your mortgage x 2 extra. Now you have an asset and a home. I did this and am very happy with my first home now paid off and the rent is pure passive income. Plus the house has doubled in value as well as the home I live in. A simple method for an ordinary person like myself. It works.
Absolutely 💯
Im happy i got a house I can afford now. i can save and as well invest, and once my wife starts working that xtra cash flow, we can invest in another house
Harder now
@@veganforever9703 that's why I buy stocks instead
@@benjimc1 any tips?
I always wanted a second home but the fees are bonkers now
This podcast was transformative. I listened to it twice and it generated lots of excitement that now I have to harness into action. Thanks so much to the both of you for all you do to inspire and educate.
This is the first time I’ve listened to a podcast, paused and taken notes (10 pages of notes !)
Thank you for this
Can you please share your notes with us, as we learn from each other a lot
@ sure. They are handwritten, I’ll see if I’m able to share them here
Im also interested!
Please share 2hrs+, can't sit through it
@@sgsd1586 it will be worth your time to listen
One of the biggest takeaways here for me is when he said stop watching Netflix and that's not because you're going to see $15 a month it's because you're going to save 2 hours a day of your time😮😮😮❤
Same!!
Calling a purchase to live in a liability, while calling a purchase to rent out an asset misses the fact that you still need to live somewhere. A rental property may be putting money in your pocket, but it's replacing the money that you spent on your own rent.
I still agree that renting can be better than buying if you diligently invest the money you would otherwise spend on a more expensive mortgage payment, and/or you invest the capital that would have been the down payment. But that "if" is critical, and not everyone is diligent enough.
I had the same thought, because we do have to park our bodies somewhere, and I wish they would have given at least 5 min. to advice on that.
This guy said almost nothing valuable. No wonder he does motivational speaking.
I think it boils down to how much renting vs owning costs, if owning is 3x the rent and making you live paycheck to paycheck it’s a different situation as well. Owning is a life long commitment renting is short term. It’s up to the person if they are able to continue building wealth while owning a house. Just my take I’m 25 and looking at buying a home but it’s only because I know I’ll be able to continue investing. Investing has grown my wealth by 40k in only the past 3 years ive been able to invest
You address the real factor that makes you wealthy...the ability to save. Paying rent requires that you are also a diligent saver indepentent of your housing situation. Being a homeowner is essentially a forced savings vehicle. Not a great one, but if you're a terrible saver with no discipline, owning a modest house may be the only way you can build wealth...from a behavioral standpoint.
@@FirstLast-zw8ip He addressed it. You said you park yourself in a place that you can AFFORD. If you're a broke loser with no income or savings, you park yourself in a tent or a relative's couch.
I'd love to get into Real Estate investing. However, near me, the auctioned homes opening bids are $100k+ cash only. And these are ROUGH homes. Am I looking at this incorrectly? If we're starting out, having $100k laying around is rare.
We need more people like this telling us truth! Just finished reading Hidden Manifestation by Oliver Mercer. Its fascinating what they hide from society.
I couldn't agree more. It's time to break free from the illusions and embrace reality. Thanks for sharing this incredible book!
scam
DO NOT BUY THIS BOOK . ITS A SCAM
Why? What do you mean? @@JohnBrown-kg2vz
“They”??? Who is “they”??
If you don't find a means of multiplying your money, you will wake up one day and realize that the money you thought you had, had been exhausted. Investment is a ladder to climb the financial wall.
You are absolutely right everyone needs more than their salary to be financial stable. The best thing to do with your money is to invest it rightly, because money left for saving always end up used with no returns.
Am looking for something to venture into on a short term basis, I really need to create an alternate source of income, what do you think I should do?
Cryptocurrency/stock investment, but you will need a professional guide on that.
Facebook 👇
Evelyn C. Sanders
I live alone and live in a two bedroomed house I bought for £60k back in 2013 when I was only making £1000 per month after tax. A do'er upper and drive a £4k Volvo. I live in a very secluded area where high earning jobs are overly satiated with applicants every time. I save £1000 per month with my current job and my house is already worth £100k in the 10 years I've owned it and only have £20k left to pay on the mortgage. But I'm happy being here. I don't need to move up on the property ladder. I only make £44k a year here in the UK which isn't that much at all and I work 12 hour shifts.
I would suggest you to consider getting on the property ladder and slowly decreasing the amount of time you work. Your growth is a great but don’t ever stop growing you have potential so please don’t stop yourself from achieving more.
44k a year in the UK isn't bad tbh it's above the average earnings
@@ItShivudid you even read his comment, he is on the property ladder and has almost paid off his mortgage
He owns his house but has no investment house so the advice is good @@Fulforce
en.... wait...
The marriage and kids will change everything in your later life... :)
I personally think that we need part 02 of this financial education podcast. Who agrees with me? ❤
Shows like this that show the average person how to grow money similar to what they are working are pure gold. Thank you!! Many times shows go over how to grow existing wealth and not from a humble beginning. Best wishes all!
As a house owner, I've never been more miserable. I was more happy and financially stable when renting. Let's make it normal to be financially free from banks. Thank you for this podcast!
Owning a house can be a huge pain in the ass. I think in addition to "doing the math" people need to be real about what will work for them and what type of person they are. I hate doing the dishes, let alone dealing with things like leaky faucets, etc. Some people do those things without a second thought.
Buying a house is the best decision I ever made, I could not afford to rent my house in the location it's in.
Sounds like you just don't understand money, compound interest and having an offset account...
Great conversation.Thanks!
If one makes money but doesn’t spend it, there’s no inspiration or joy-it’s like being a bank, merely holding money with no purpose. True financial freedom comes from using money wisely to create happiness, experiences, and security within your budget. Money is a tool, not the goal.
I grew up in Section 8 housing from ages 8 to 18. My family moved from the projects to a middle-class neighborhood where our neighbors were police officers, a pilot, a painter, barbers, an FBI agent, teachers, firefighters, and other people who were considered well-off. The neighborhood had amenities like a pool, putting range, skate park, and BMX track. In the '80s, the rent for our 3-bedroom, 2-bath, 1,100 sq. ft. condo was $700 a month. My mom, who never made over $40K a year, paid $200 a month, with Section 8 covering the rest.
As a kid, I thought we were rich because of the things other kids at school would say about our neighborhood. It wasn’t until I was about 20 that I learned about Section 8 and realized we were actually poor.
For the past 20 years, I’ve been renting homes in middle-class neighborhoods to Section 8 families. My goal is to give kids, just like I was, the hope of becoming more than they ever imagined-simply by growing up in a better environment.
This was one of the most common sense, basic easy to understand presentations on the basics of accumulating wealth for all persons.
You are a superior teacher.
The concept in “Mastering the AI Money Game” explains this perfectly. I wish I read it sooner
THIS IS A SCAM
@@JohnBrown-kg2vzOK but can you elaborate a bit further?
It's an Ai comment. People spam comment these fake books. @@filipealves6602
BULLSSHITT do not listen
Listening to this very interesting talk makes me realise that people with money have no idea how some of us have to survive and furthermore not everyone has the ability to make a lot of money before retirement no matter how hard you work we have to live within our means and enjoy the simple things in life.
This the best 2,5 hours I invested in myself for a long time. Thank you to both of you!
there was an interesting experiment in the UK a decade or so ago (I think by the BBC), where they tested Brits who consider themselves lucky and Brits who said they do not have any luck. They put them (unknowingly) in scripted scenarios, where they would for example find a 10 pound note on the street, while walking to a different place (not even knowing it was part of the test).
Those who considered themselves lucky, found the 10 pound note and started to explain how it is proof that they are lucky. Those who considered themselves unlucky, walked past the bill and did not even see it.
If your brain does not expect anything good, it won't look for anything good and you won't find anything good.
That's an important lesson here. This is how mindset matters.
So true. Thanks for sharing that. :)
"Let's say $100K a year" if only .....
Insert some guru i reccomend. I am not a bot
isnt there also studies which show "lucky" "earned it" more than others. I cant say it is lucky mindset spesific but it certainly exists. that is good view why doomerism can work as spice but need to be careful to balance different aspects of life very carefully.
We bought our first home in 2019 for 179k ($1000 down with new homebuyer program in Idaho) and sold it in 2021 for 350k and then moved to Mississippi and bought an acre with a cute house on it for cash. Not the easiest path but we did turn our first home purchase into an asset. We basically lived in it for free.
My only regret is we didn’t do it sooner. We rented for ten years and that money is gone and the landlords treated us like garbage- made us move twice when I had a brand new baby or was big pregnant. If we’d bought sooner we’d have been in a million dollar home when we sold in 2021.
We bought our current house in 2016. It would now cost us twice our monthly mortgage payment to rent a comparable house in the local area. After less than 25 years of payments we'll never have to pay another mortgage payment but if we were renting we'd still be paying and have had 25+ years of rent increases. Without my house I'd be facing homelessness in old age on a meager pension.
Wow congrats on taking advantage of the huge upswing in prices. You did really well. Just so you know though, what happened recently in home price appreciation is not the norm. Houses don't usually appreciate that fast. In fact, it could've worked out in the opposite direction where you bought the house for $350k and 2 years later it was worth $179k. Real estate is about timing and it seems you lucked up and timed it perfectly.
Timing is everything. My 1.1 million dollar home was valued at 550k 3 years later.
Facts! Same here
You got extremely lucky
This is One of the best financial podcast i have ever seen
In the last 4 years, I have established a business. I'm a single mom, but I'm extremely frugal. I do not go out to eat much. I cook at home. I wear a uniform to my own business. I do not get my hair or nails done. I do those things myself, and I'm happy. It's funny to know that I've had celebrity friends of mine ask me for loans to pay for their bills. I'm proud to be a simpleton. They don't put my picture up on their Instagram accounts so no one knows I know them. I just know them on a personal level. How is it that they live and look flashy, and yet they are borrowing money from me? I'm building wealth, and they are struggling. I know their truths. I don't care about flashiness. I know who I am.
I stopped lending money that never comeback to me. So many people waists money and than they want to get from me
What your business ma'm?
@@faydulaksono Orthopedic and manual therapy for injuries. I have a clinic and work with injured veterans.
As a home owner I’ve diversified into other sectors that have been less chaotic. With a good investment plan that ensures steady income without any doubts I and my wife are prepared for a well organized retirement. I started investing in stocks 2 years ago and so far, I am making a good yield on my dividend. I've learned that getting a good return is very much attainable only if you know your way around it.
You say it like it's easy forgetting that not everyone is as lucky as you are. I've tried to invest in the past without much progress. How are you able to do it?
It's totally far from luck. Sir Jonas Herman, a CFA has consistently outperformed the market ever since I got on his program. He has continued to put my $25k to good use with market driven strategies making me an optimal return of over $131k
That's your view. In my experience, there is no such formula, it is nearly impossible to achieve success with investing. It’s all just gambling.
37, single mum. I’m green in the investing space, and have no idea how to go about it. Is he taking new clients?
Hermanw jonas that’s his gmail okay
Thanks to this documentary I just started my $100 USD business.
What is it?
Please share
No. If you CAN AFFORD TO, then buy a house. If you're paying the same amount or in many cases MORE for rent than a mortgage, it's worth it to get your own home just on security and peace of mind alone. Being able to sleep at night knowing I don't have thoughts of being kicked out of my house any moment is worth every penny towards my own house, even if that was 20+ years in the making.
💯
Median rent in 2000 was $607.
Median rent in 2024 is $2,025.
That's 333.66%.
You are insane if you don't buy a house quickly esp when your government prevents development of new housing supply.
It is all by design: “You will own nothing and be happy”
It will all go to crap soon, that’s their plan
I guess it depends on where you live. In Dallas, TX I was renting out a 3 bd 2 ba house for $1150. I sold the house but according to the comps for the area I could now get about $1750. Still a huge jump but not 333.66%
Imagine how much the government is going to steal back from your house when you die.
It's crazy here in Ireland. It will be crazy to be dependent on the rental market.
@@trina2100 Forgot to specify it's California. The legislative gov just prevented the development of 14k units of new housing.
It's going to worsen when it comes to affordability here.
SO TRUE what he said about Mindset. Jaspreet is the reason I started creating financial goals and making changes in how I saved. Amazing conversation. So happy for to see Jaspreet here. Keep rocking !
This guy is basically regurgitating Rich Dad, Poor Dad by Robert Kiyasaki - which is an excellent read and changes one’s way of thinking
Watch his shows, he's very encouraging and informative
The younger version
No it’s very different
So so security
Also listen to David Ramsey
The richest ppl I have in my friend group left their 9-5 to take chances with their savings for Airbnb and own their own insurance business. They scaled their air bnbs. They understand money. It’s so cool to learn from them.
In the U.K. the government has made it much less profitable to be a landlord. You can’t claim hardly any costs now off your taxes. You pay high rates of tax and now you can’t ask tenants to leave easily, the rights are all on the side of the tenants. We are selling our rentals now, after about 20 years of being landlords, and it’s a relief to know we don’t have the worry of the properties
Hello where are your properties I'm interested
@ they are already sold
It’s happening here as well in USA
It's amazing we aren't taught finance and economics in school. People also don't educate themselves. 2000 for an emergency fund is nowhere near enough unless you have bank of mum and dad.
No one would pay attention.
It's deliberate, the masses are actively detracted from the mechanisms of state sponsored theft.
It's deliberate, the masses are actively detracted from the mechanisms of state sponsored theft.
It's deliberate, the masses are actively detracted from the mechanisms of state sponsored theft.
We're taught to be workers and make money for the governments and rich people that's what the system educate us for.
I just saved up enough for 20% of an apartment. I have my own business. It’s doing better than I ever could have imagined but I’m trying to educate myself on money so I listened to this.
Some good tips, so thank you
What business did you start. Great work!
@ I just became a contractor in what I was already doing. Im an Occupational Therapist and I’m a clinician. Just stopped being an employee, my profession is in demand and became a private practitioner. I’ve experience in my specific industry, I can do the work quickly and mostly second nature and as a profession we’re in demand. So why do it for somebody else. Now I get referred individuals assessments to represent companies. Your mindset to work changes significantly when how much you work becomes proportional to how much you earn
I dunno, I'm 37, I have 68k left to pay on my mortgage, 1.4percent interest - its worth almost 200k more than I paid. I have had this house for almost 4 years. The key is to not fall for postcodes and just google areas that are within the bubble of those postcodes. I live in a large 5 bed house. It needed some work initially - but it was livable. I find most people go for these new builds, which are sold as this amazing new area to live, thy are sold at a premium and the house itself is small and the worksmanship often poor.
Thanks!
Thanks so much for your support! 🙏
@@TheDiaryOfACEOwhy does cash app not work in East Africa for instances Kenya?
The fact that nobody talks about the book Matrix Golden Cashflow Tactics, speaks volumes why people dont earn a lot of money..
Thank you soo much for sharing it
well, if everyone earned a lot of money from imaginary $8k condos, then nobody would work. we wouldnt have doctors, so we would live like in the middle ages with a 34 maximum year lifespan.
Where do I find it. I am not finding it.
It's a bot@@christinakis7265
@hadiqaamjad2571 bot
Jaspreet is the TRUTH! Love and appreciate him for educating me for years. For those of us born to families who aren’t financially savvy, and who’ve “made it” - we are so fortunate to have him impart such wisdom.
In my family, you had two options: (1) be a LAWYER or (2) be ordinary. Very similar! The difference is that my folks never dreamed that any of us could become a lawyer. They would have settled for a physician, which is still ordinary as you work with your hands. THIS GUY IS GREAT!
My mortgage stayed the same for decades! My rent was raised each year. I saved lots of money living in my house. Dont buy a house you cant afford. Stop buying new cars.
In that case, you had a shitty landlord.
Yes! People don’t think about the future. I tried to get my sister to buy the house next to me but she thought it was too much. I’m still paying $2,100 a month for a 4 bedroom with a pool, while she is now paying $3,500 for a 2 bedroom rental (mind you, the house is also 100 years old and has constant problems). What is the rent going to be like in 20, 40, 60 years from now?
Save as fast, as hard and as young as you can. Buy a house and pay it off as fast as you can. The effort you put into that will be less than the effort of paying an increasing rent for 65+ years. There’s a world of difference between going to bed on a night knowing you have to service large monthly debts, and being mortgage free. Can’t afford the house you want? Get a starter home or move area. Only live in the south east if your salary aligns with the cost of living. Best scenario, earn a role that pays you a premium salary while being able to live in a cheaper area. It’s not rocket science. Too many people want everything now, at a standard that’s unachievable. Work when you’re young, play later.
Ok. Nice comment. But whats with ppl that never change thier worker mind and never jump up from thier original position until pension? They will work for us, making the world GDP...
Unless your mortgage rate is 6-7% or higher (unlikely), do not pay it off as quickly as possible. Save and leverage that extra money and invest it in a low cost Stock Index Fund (maybe in a Roth account), where you will historically make 7-10% a year. You'll end up ahead :)
@@Radoslav-gk7wu that’s like saying, I like eating chocolate, I only ever eat chocolate because I enjoy it. Oh no, I now have diabetes. You have to make decisions in life. Eat the food you don’t ‘like’ because it’s good for you or eat the food you like and suffer the consequences. Stay in the job you like where you’re comfortable but don’t achieve financial freedom, or take a job that’s more challenging but gives you more financial opportunity’s. You can’t have your cake and eat it.
@@cmeederGood advice
Most cannot get a mortgage for over $700,000 AUD in Perth, Western Australia
Great chat. I don’t agree with house renting, buying a mug is a terrible comparison.
People should know one thing, the ability to grow wealth is dependant on how much you spend, NOT how much you earn. And, we are not educated financially because we have to be kept desperate so we keep doing awful jobs to keep the wheels of society turning.
I dont understand his line of thought. He's relying on a bunch on constants that aren't constants.
For eg; his explanation on passing on your house to your kids means that person needs to have kids in the first place... When we know that isn't always the case. I dont have kids, my house has tripled in value and the maintenance is low.. so all his points are completely bunk.
There are too many unknowns with these things and its the same old story with these "gurus" where they rely on selling books or some 5 step program so he can make his own wealth based on shoddy advice
@@Gino_567 I have never understood the “renting” argument. Rent always goes up and lasts forever. Other than that, I really enjoyed the podcast.
You're too invested into the conversation. There is not a one size fits all approach. The line of thinking he is illustrating is from one who doesn't understand the principals of money.
,I agree the rental thing doesn't make sense to me. If you can pay your mortgage early, you can have less interest! There is something called overpayment here in Europe.
I listened like a greater wax moth and watched this entire video like a hawk as gems literally fell out of Jaspreet Singh's mouth. On the cusp of age 57 and quite literally sandbagged with a house and property that was gifted to me, I am unemployed and have no income except for an allowance of approximately $ 200 a month. I have placed my home on the market and am waiting and waiting for a buyer. The fact that I am in Sri Lanka, which is yet at a stalemate in terms of an extremely high cost of living, magnifies my situation. I just wish that I had come across this kind of information much earlier.
He’s not wrong about buying a home. BUT, with so many people buying properties as an investment, that means someone has to pay rent bc all the properties have been purchased by a few people instead of spread out amongst single family HOMEowners. Only INVESTORS can own property bc they drove the price up.
At least, that’s what I’ve seen.
It's like our basic need for shelter and safety as humans has just become commodities for those that can afford and are willing to do so to exploit those that have no choice but to rent
Yup!… This what so many miss. The advice is great BUT we are in a different time!… “Buying an affordable house” means for so many they won’t own. It’s definitely challenging. I was able to purchase in 2021 but it took quite awhile, and I don’t know if I would buy now. I know religion is not a big thing for everyone, but God opened the door for me to get my home. The timing was good for me.
I actually decided to rent out my home and move somewhere free and much much smaller.
Is it uncomfortable? Yes… but 2-3 years of this sacrifice will be worth it.