Jaspreet Singh
Appearances
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I put in a few thousand dollars worth of work. And then I rented it out for $600 a month. Und jetzt fange ich an, Dinge zu fragen. Warum hat niemand mir darüber gesagt? Dieses Konto ist Geld in meinen Koffer, ohne dass ich etwas machen muss, weil ich dieses Asset besitze. Wir werden alle beobachtet, um unsere Zeit für Dollar zu handeln.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wir werden alle beobachtet, um zu arbeiten, um bezahlt zu werden, weil das ist, was wir beobachtet werden. Aber reiche Menschen arbeiten nicht für einen größeren Betrag. Sie arbeiten für mehr Asset, weil das dich weiterhin bezahlen kann, auch wenn du nicht arbeitest. And that's that shift, when I saw that, that really sparked a fire under me and really made me angry.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And let's talk about making money. I put my money in five places. That has been proven to win. Number one.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And I don't know why I got so angry, but I got angry. Because I felt like I was checking all the boxes. I was doing good in school. I bust my butt in school. I was going to do all the right things, become a doctor and do everything that I was told. But what I didn't realize was... So, I wanna make a distinction here. Are you saying that in order to build wealth, people should buy a house? No.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
If you want to build wealth, you have to buy assets. When people say buy a house, what does that mean to most people's eyes? It means buy my home. I want to buy this nice place for me to live.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
They're building what many people call generational wealth, which is one of the biggest lies when it comes to money. The reason why... It's because your house is actually a money pit. And that's why I want you to think of your house as a liability. But I want you to hear me clearly. I'm not saying you shouldn't buy a house. I'm not saying it's bad to buy a house.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
You have to treat your house like a liability. This suit that I'm wearing is a liability. This watch is a liability. My shoes are liabilities. Should I not buy them? No, I got to make sure I can afford them. So when people think about buying a house, what do they think of? They think, I'm going to build generational wealth.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I'm going to build wealth, I'm going to pay it off and I'm going to be able to have more freedom in my life because I can own this house. Let's go with the best case scenario. You buy a home for, let's call it $300,000. You pay it off. Und während deiner Lebenszeit wächst dieses 300.000-Dollar-Haus in Wert zu einem Millionen-Dollar-Haus.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und jetzt wirst du sagen, Jasprit, ich habe dir gezeigt, dass das ein Asset ist. Mein Haus hat sich in Wert gesteigert, mehr als in Wert gesteigert. Und jetzt werde ich es meinen Kindern vergeben. Also jetzt, ja, deine Kinder haben ein Millionen-Dollar-Haus. Aber ohne dass sie das Einkommen haben, um für ein Millionen-Dollar-Haus zu bezahlen, müssen sie vielleicht ein bisschen mehr Geld finden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Jetzt was tun sie? Weil du kannst nicht nur Geld aus diesem Haus holen, richtig? Ich meine, es ist kein ATM, ohne dass du in die Bank gehst. The bank will give you the cash because the bank says, oh, you have a million dollar house. How about we loan you $800,000? But that's not an ATM because you have to pay that money back plus interest.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Dollar.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Gut, wir sprechen gerade nicht mehr über Steuern. Aber du hast 1 Mio. Dollar. Du bist reich. Aber wenn sie keine finanzielle Bildung haben, und du hast 1 Mio. Dollar, was passiert dann? Na gut, lass uns das mal nachdenken. Wenn du 1 Mio. Dollar hättest, was würdest du damit tun? Wenn ich auf die Straße ging und die average Person fragte, wenn ich dir heute 1 Mio.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Dollar geschenkt hätte, was würdest du tun? What are people going to say? I'm going to go to the Bahamas. I'm going to buy myself a nice house, I'm going to buy myself a nice car, buy myself some nice clothes, go to the Gucci store, go to the Louis Vuitton store and buy myself the extra guac at Chipotle. That's what the average person will do. Now maybe you're a little bit more financially smart.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
You say, I'm just going to live off of $50,000 a year. But after 20 years, you have nothing left. Not to mention the fact that 10 years from now, So now let's go back to that situation. You thought you built generational wealth. You did a good thing about paying off the mortgage because you don't have to pay the mortgage payment. But is that really the type of generational wealth that you want?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And now to fully hammer this home, I'm not saying it's bad to own a house. It's actually very great. It's an amazing thing to own a house free and clear because now you can rest assured, you don't have to worry about the mortgage payments. If you have the financial education, that's great. But let's talk about now the real way to do this and build true wealth.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
When I buy my real estate investment properties and my property values go up, the rental values also go up. The rent is what pays for the maintenance. The rent is what pays for the upgrades. The rent is what's paying for the property taxes and the insurance. The rent is putting money in my pocket. And this is cash flow that I can use. I can use this cash flow to buy a vacation.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I can use this cash flow to buy food. I can use this cash flow to pay for my lifestyle. But your house... Das tut das nicht. Du musst bezahlen, um in deinem Haus zu leben.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Banken sind nicht dumm. In Wahrheit sind sie sehr witzig. Banken machen etwas, was man nennt Frontloading your mortgage. Was das bedeutet, ist, wenn du einen 30-Jahres-Mortgage bekommst, was viele Menschen in Amerika machen, und du 3.000 Dollar pro Monat auf deinen Mortgage bezahlst, You're not paying $1,500 to your interest, your bank, and $1,500 to your principal, your equity.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
The way it works is banks front load your mortgage, which means for the first almost 15 years, it's about 14 years and 8 months or so, but for almost 15 years of your mortgage, the first 15 years, the majority of your mortgage payment is going directly into your banker's pocket in the form of interest.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Das bedeutet, wenn du 3.000 Dollar pro Monat bezahlen würdest, für den ersten Teil deines Kredits, vielleicht 100 Dollar, geht aus den 3.000 Dollar in deine Einkommen. Die anderen 2.900 Dollar gehen direkt in deine Bankkarte mit Interesse. Und jetzt, ja, nach 15 Jahren, ist die Hälfte deines Kredits in deine Einkommen und die Hälfte in deine Interesse.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
But if you refinance before that 15-year mark, that starts over. And so this is where banks understand the game. Again, I'm not against buying a house, but you got to understand the game of money. And most people don't understand that. And so the mistake that people make is they buy a house they can't afford.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And now they're paying all this money into their mortgage, thinking that I'm building wealth. They no longer have money to save. They no longer have money to invest into other real assets. And their money is just going to pay down their mortgage, thinking that this is going to build my wealth. But you've been sold a lie.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Let's make the numbers very simple. You want to buy a $100,000 home. And let's say the banks require a 20% down payment, $20,000. You could do a few things. Number one, you can take that $20,000 and go out and buy this house. And now that's how that money has been used.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
But if you use that money to buy the house, you lose the opportunity to take that $20,000 and say, use it to buy a rental property. You lose the opportunity to use that $20,000 to invest in the stock market. You lose the opportunity to take that $20,000 and maybe build a business. Now the question is, what is going to give you the best and most growth?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Now hopefully this house that you buy will go up in value. It's not guaranteed. We know that houses don't always go up in value, no matter what your banker says, no matter what your real estate agent says, because we saw what happened after the 2008 crash, where real estate prices were slashed in half. It was as much as 93% real estate values dropping in the state of Michigan, where I am.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
So we know real estate prices don't always go up. Stock prices don't always go up. Businesses don't always work. Everything has a risk. But now the question is, which risk do you want to take? And which risk do you want to take first? Are you in a situation now where you're ready to go out and buy a house? Or do you want to build your wealth first a little bit more?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And that's the question that I want people to start thinking. Am I ready to buy a house? And then people say, well, if I go out and invest my money, the problem is, housing prices keep going up. I'm chasing this housing market. It keeps getting more and more and more expensive. And you're 100% right. It's a risk.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Anybody who uses money, which is everybody. The interesting thing about money is we use money every single day. It costs money to eat and it costs money to feed other people. Yet most of us are never taught about money. So most people say, money doesn't matter. I shouldn't think about money. I shouldn't have to worry about money. Money is bad, money is evil.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich musste in einem Hotel bleiben. Der Hotelbetrag zahlt jemanden einen Betrag. Es zahlt jemanden eine Hochschulabgabe. Es zahlt jemanden etwas. Wenn ich in ein Restaurant gehe und essen gehe, zahle ich jemanden einen Betrag. Ich zahle jemanden eine Hochschulabgabe. Ich zahle jemanden Geld. Weil wenn du rausgehst und reist, sagt das jeder. Ich mache meinen Landwirt reich.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wenn du in einem Restaurant isst, machst du den Restaurantlehrer reich. Wenn du in ein Hotel gehst, machst du den Hotellehrer reich. Wenn ich einen Mug kaufe, mache ich den Muglehrer reich. And the reality is, yeah, it's good for you to own a house. But are you ready to own a house? Can you afford to own a house? And what do you want to own first? I rent where I live right now.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I am making my landlord rich today. I also rent where my office is. I am making my office landlord very rich because my office rent is very expensive. Do you feel bad for me? I hope not. And this is where we have to get over these money myths that many people keep selling you, that you can't build wealth if you rent where you live. You can't build wealth if you don't get a good degree.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
That's not the way that the system works. See, there's the traditional rules and then there's the real financial education money rules. And again, I'm not saying it's bad to own a house, but it's bad to own a house you can't afford.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Nun, es gibt drei Teile, die man in einem Haus verdienen kann. Man muss den Ausgleich verdienen. Man muss den monatlichen Verdienst verdienen. Und man muss die Ausgleichskosten verdienen. Ich werde anfangen mit dem einfachsten, nämlich den Ausgleichskosten. Denn viele Leute factorieren das nicht ein. Wenn du ein Haus kaufst, musst du einsteigen. Und ich spreche nicht von den Verkaufskosten.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Du kannst die Verkaufskosten anbieten, die teuer sind. Du kannst deine Furnitur verbessern, die teuer ist. Du kannst das Haus verbessern, das teuer ist. Faktiere das ein. Dann möchte ich über deinen Ausgleich sprechen. People don't like when I say this, but I don't say what I say to make friends. I say what I say to help people be better with money.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
If you want to afford the house, you have to have at least a 20% down payment. That way you actually have some equity, some skin in the game. That way you can actually afford the house. Der dritte Punkt ist, dass man die monatlichen Bezahlungen erlauben muss. Nun, jeder Bank hat eine andere Regel für dich. Banken haben die 28%-Regel und diese anderen Regeln.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Warum mögen die Leute es nicht, wenn du das sagst? Weil es sehr schwer ist, eine 20%-Bepaarung zu bezahlen. Wohnen ist teuer. Du willst ein 500.000 Dollar Haus kaufen? Du musst ein 100.000 Dollar als Minimum für deine Bepaarung haben. Und das ist extra Geld. Gut. Nun, wenn wir über die monatlichen Kosten sprechen...
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Der einfache Weg, den ich folgen möchte, ist, dass du ein System für dich selbst hast. Du musst wissen, wie viel Geld du verbrauchst, wie viel Geld du investieren musst und wie viel Geld du jeden Monat versorgen musst. Dann faktiere es einfach ein. Also, wie ich es anschaue, eine einfache Regelung.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
ist so etwas wie ein Plan 75-15-10, der sagt, für jeden Dollar, den du von hier aus verdienst, sind 75 Cent das Maximum, das du spenden kannst, 15 Cent ist das Minimum, das du investierst, 10 Cent ist das Minimum, das du spart. Nun, lass uns die Mathematik machen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
When in reality, it costs money to eat and it costs money to feed other people. And when you don't understand that, now you're the one that's going to be paying the highest taxes. Du bist derjenige, der nicht mehr Geld bezahlen kann. Du bist derjenige, der nicht mehr in Disney World gehen kann.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wenn du weißt, dass du, lass uns sagen, 100.000 Dollar pro Jahr verdienst, bedeutet das, dass das Maximum, das du aus den 100.000 Dollar spenden kannst, 75.000 Dollar ist. So if out of that $75,000 you can afford your mortgage costs, you can afford your food, you can afford your vacations and lifestyle, then sure, you can afford it.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
But if you can't afford that, then you can't afford that mortgage. And the reason why I like to go by this rule is because some people are going to say, I can live in a small house, I just want an expensive car and some nice vacations. All the people are going to say, I want a beautiful home. I don't care about the car and vacations. So now you can factor it all in there.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
How much can you afford out of that 75% of what you make?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also sparen sie alles? Oder mehr. Okay. 78% der Amerikaner leben von Lohn zu Lohn. Das bedeutet, ich mache etwas Geld und ich spende es alles oder mehr. Es gibt einen Witz, den ich gerne mache. In der traditionellen indischen Kultur machen Menschen einen Dollar, um 20 Cent zu sparen. In der traditionellen amerikanischen Kultur machen die Leute einen Dollar, um 2 Dollar zu sparen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Durch die Hilfe von Linien von Kredit, Kreditkarten und anderen Formen von Schulden. Und der Grund, warum ich es einen Schritt zurücknehmen werde, ich glaube nicht, dass du mich so gehen möchtest, aber ich werde irgendwo gehen. Wir leben in einer so genannten kreditbasierten Ökonomie. Was bedeutet, wenn du 50.000 Dollar pro Jahr machst, lebst du nicht aus 50.000 Dollar pro Jahr.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Am liebsten nicht die meisten Amerikaner. Wir leben in einer so genannten kreditbasierten Wirtschaft, was bedeutet, dass du die Fähigkeit hast, die 50.000 Dollar, die du verdient hast, plus Geld zu verdienen. Denn je mehr Geld du verdienst, je besser dein Job ist, desto kreditwerter wirst du.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und so, als du dem Banken zeigst, hey, ich habe 50.000 Dollar verdient, geben sie dir Kreditkarten, sie geben dir Kreditlinien, sie geben dir jede Art von Geld, die sie haben können. So kannst du jetzt 60.000, 70.000, 80.000 Dollar verdienen. Because that's what grows the economy. The more money you spend, the richer somebody else gets.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And so now when you live in this credit-based economy with no financial education, people spend, spend, spend, the economy grows, grows, grows, and most people have no idea what hit them.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
We have to get over these money myths that you can't build wealth if you rent where you live. You can't build wealth if you don't have access to millions of dollars. That's not true. And there's one key thing that's given much better returns than any real estate, than any stock, than even any cryptocurrency. So let's talk about the real way to build true wealth.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Du bist derjenige, der nicht mehr dafür bezahlen kann, dass deine Frau, dein Mann oder dein Vater ein tolles Geschenk haben. Und du bist derjenige, der nicht mehr dafür bezahlen kann, dass deine Eltern ein Gesundheitssystem haben. Und du fragst dich, warum? Und in diesem ökonomischen System, in dem wir alle leben, geht es um Geld.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich hätte alles gekauft. Aber das ist wirklich... Ich meine, wenn wir deine Freunde ignorieren, ist es sehr einfach, fake rich zu sehen. Ja. Weil jeder dir eine Linie von Kredit geben wird. Wenn ich einen Gucci-Person will, kann ich den Gucci nicht bezahlen. Guck mal, ich kann jetzt kaufen, später bezahlen. Ich kann eine Kreditkarte öffnen und den Gucci kaufen und aussehen, als wäre ich rich.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wenn in der Realität bin ich nur Gucci-rich. In der Tat... Einer der reichsten Menschen der Welt, in 2023 war er der reichste Mensch der Welt, ist Bernard Arnault. Er ist der Founder und CEO von LVM, er ist der Founder und CEO der Firma, die Louis Vuitton kauft. Und warum? Weil Millionen von Menschen ihn bezahlen, um reich zu sehen, wenn er in der Realität der ist, der reich wird.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und wir glauben, dass wenn du mehr Geld machst, musst du anfangen, die Partie zu schauen. Und das ist der Mindset-Schiff, den wir machen müssen. Und viele Leute, die aus den indischen traditionellen Familien kommen, sagen mir, Jaspreet, ich wurde Arzt oder meine Frau und ich sind Arztinnen. Wir verdienen hunderttausende Dollar pro Jahr.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und solange du das verstehst, wirst du in diesem System niemals gewinnen können.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wir haben einen großartigen Einkommen, aber wir haben keine Verschuldung und keine Investitionen. Und ich weiß nicht, was ich tun soll. Und der Grund ist, dass wir einen Range Rover und einen Benz haben. Wir haben ein schönes Haus. Wir gehen auf Doktoren-Vacationen. Wir müssen die Sache betrachten. But we don't have any money left over at the end of our paychecks.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And it's a very easy thing to get caught up in. Because when you make more money, you become more creditworthy. Banks will give you bigger loans. When you make more money, you want to spend more money. And it's very easy. Und du musst verstehen, wie du das Spenden kontrollierst.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und deshalb, wenn du etwas wie 75, 15, 10 folgst, eine der einfachsten Dinge, die du anfangen kannst, ist es immer, egal was, ob du 10.000 Dollar pro Jahr oder 10 Millionen Dollar pro Jahr machst, du setzt immer Geld aside, um zu investieren. Du setzt immer Geld aside, um zu sparen und du spendest, was noch übrig ist.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Du weißt, für die Leute, die in diesem Paycheck-to-Paycheck-Zyklus sind, in dem ich schon viele Jahre gelebt habe, wo ich von meinem Anrufzentrum bezahlt werde, wo ich das Geld spenden würde.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Well, before I give the advice, I want to explain to that person what's happening. Because you are the prime customer for our economic system. Banken lieben dich, weil sie dir Lohns und Kreditkarten verkaufen können. Sie können dir Lohns und Kreditkarten verkaufen. Und sie können dich für den Rest deines Lebens in Schuld halten. Das bedeutet, du wirst die Banken immer reich machen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Die Unternehmen lieben dich, weil du nicht zweimal denken wirst, wenn wir dir diese schöne Tasche zeigen. Wenn wir dir diese schöne Vacation zeigen. Du wirst diese Sachen wollen. Und wir lieben es, wenn wir dir diese Sachen verkaufen. Die Regierung liebt dich, weil du die höchsten Steuern bezahlen wirst. Die Arbeitnehmer bezahlen die höchsten Steuern.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und wenn du in dieser Situation bist, dann machst du alle anderen reich an deiner Ausgabe. Und wenn du das ausbrechen willst, dann musst du erst verstehen, dass du dich selbst reich machen musst, bevor du alle anderen reich machst. Denn wenn du all dein Geld spart, dann machst du dein Geld in ihre Hände. Und du musst das stoppen. Du musst das Geld für dich selbst behalten. Du bist in einem Boot.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Denk davon aus, dass du in einem Boot bist. Und dieses Boot hat Wasser, das fließt rein. Und du sinkst. Und du musst anfangen, die Löcher zu öffnen. Du musst den Wasser stoppen. Du musst den Wasser stoppen, der kommt rein. Du musst den Blut stoppen. Und das bedeutet, du musst den Spenden stoppen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also, wenn du in dem, was ich die finanzielle Gefahrzone nenne, das heißt, du hast keine 2.000 Dollar für eine Erkrankung gesichert. Und du hast Kreditkartenteil. If you are in that situation, you are in the financial danger zone and you have to make drastic changes.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
That means right now, no more eating at restaurants, no more vacations, no more doing anything that doesn't put money in your pocket and no more Netflix.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And the reason why I say this isn't because you're going to save $15 a month. It's so you can save two hours of your time a day. The average American is watching more than two hours of television a day. And if you don't have $2,000 saved up, if you have credit card debt, you cannot afford those two hours a day being wasted on TV.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
One key difference. People that become wealthy understand how money works. And everybody else does not. And I'll tell you where I came to this conclusion. I checked all the boxes. I studied hard in school. I went through high school. I went to college. I spent one year in graduate school. And then I went through law school. But I never once learned to think about money.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And that means right now you have to go out and start using the time to learn, start using the time to work and start using the time to make some extra dollars. So what do you do? Start selling stuff. Stop spending money. Selling stuff you own. Selling stuff you own. So if you have a TV that you're not using, sell it. You have a car that you can't afford, sell it.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
If you're living in a house that you can't afford, sell it. Downgrade. Move smaller. And then work to earn more money.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Das ist der Grund, warum alle indischen Eltern ihren Kindern einen Arzt sagen, damit ihr Sohn verheiratet werden kann. Das ist das gleiche Konzept. Aber hier ist die Sache. Du musst es hart wählen. Entweder wird dein Leben hart werden, oder es wird für den Rest deines Lebens hart werden. And you have to pick what's more important to you right now.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And, you know, if we talk about balance, if you want to have a balance of everything, where you want to find a girl, and you want to make money, and you want to stay healthy, you are dividing your attention everywhere. I'm not saying it's impossible, but very few people can actually do everything all at once.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And if your number one goal is to become wealthy, if your number one goal is to turn your finances around, you have to get serious about it. Because Wo du deine Aufmerksamkeit nimmst, ist dort, wo du die Ergebnisse bekommst. Und wenn du also in einer besseren finanziellen Situation sein willst, wirst du Zauber machen müssen. Und es ist schwierig.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich kann dir nicht sagen, dass es einfach sein wird, weil ich dir lügen werde.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ja, und ich möchte auch sagen, dass ich, wenn ich über das Bilden von Geld spreche, nicht darüber spreche, dass man Geld nützt, dass man Geld nützt, dass man Geld nützt, dass man Geld nützt, dass man Geld nützt, dass man Geld nützt, dass man Geld nützt,
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I never once learned to think about building wealth. I never once learned to think about investing. I never once learned to think about passive income. But if you look at the wealthiest people in the world, They don't get there by working a job and getting a raise. They don't get there by working to climb the corporate ladder. They get there because they understand how money works.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Es ist schwierig. Und diese Verschuldung ist schwierig. Besonders während einer Zeit, in der jeder alles auf Instagram zeigt. Du siehst deine Freunde, die einen verdammten Job haben, aber sie fahren in besseren Autos, gehen auf bessere Verabschiedungen, gehen in bessere Restaurants. Und du denkst dir, was habe ich falsch gemacht?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und dann, besonders wenn du ein Mann bist, du hast eine Freundin, du hast eine Frau, sie wird sagen, warum gehen sie immer weiter nach Cancun? Sie gehen immer weiter zu diesen schönen Restaurants. Warum kannst du mich nicht zu diesen schönen Orten bringen? Und jetzt fühlst du dich, als ob du etwas falsch machst, weil wo ist diese Diskrepanz?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Die Grund, warum ich meine Show, die Minoritäts-Mindset, nenne, ist, weil ich ein großer Advokat bin, nicht zu tun, was die meisten Leute tun. Die erste Zeit, als ich ein Millionen Dollar im Jahr gemacht habe, war ich in meinen Zwanzigern. I was driving a car worth $500. It didn't have a bumper on it. It was not pretty. My wife sat in that car with me.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And my employees drove better cars than I did. So, you know, you got to be confident. And you got to work for something bigger. And you want a partner that's going to understand that. That's my belief. Which is not the easy thing.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und das ist der Grund, warum so viele Menschen in Schuld gehen werden, um Verkauf zu kaufen, um Dinge zu kaufen, um Sachen zu kaufen, um reich zu sehen. Ironically, that's the thing that keeps so many people poor for the rest of their life is because they're scared to look broke. And now, when you try to look rich, that's the thing that's actually keeping you broke.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und sieh, hier ist die Sache. Während dieser Zeit, machst du emotionale Entscheidungen. Ja. Wie viele Leute das sind. Und es ist sehr schwierig, Logik zu Emotionen zu sprechen. Aber hier muss man jetzt die Unterschiede verstehen. Denn wenn du das hörst und in dieser Situation bist,
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
You have to understand that if you want to continue being able to live that lifestyle, you're going to have to make some changes today. Otherwise you're going to be stuck in this lifestyle for the rest of your life. And it's only going to get more difficult. Und das ist die Sache, wenn du wealthy werden willst, ist der erste Teil nur dein eigenes Mindset. Es ist deine eigene Disziplin.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und bis du das bekommst, kann ich dir alles über Investieren erzählen. Ich kann dir verschiedene ETFs und Indexfonds erzählen, in die du investieren kannst. Ich kann dir erzählen, welche Investitionsinstitutionen es gibt. Ich kann dir erzählen, welche Stockbroker zu benutzen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich kann dir erzählen, investiere 15% deines Einkommens in das für die nächsten 10, 20, 30 Jahre und du wirst wealthy werden. But until you can get over that mindset, you're never going to become wealthy.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And they understand how to win in the economic system. And the crazy thing about that is we're all taught to trust the system. My parents are immigrants from a state in India called Punjab. And like many other traditional Indian immigrants, they wanted me to become successful. In meinem Haus war die Definition von Erfolg sehr einfach. Sie gaben mir zwei Optionen. Ich kann es schätzen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Because then what happens in that situation is when you're in that state of, I just want to look rich, I just want to have that dopamine, I just want to have some nice things because I deserve it, I'll work hard. You know what happens next? You're the one that gets caught up in all the get-rich-quick schemes. Because someone's going to say, look,
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Put $1,000 into this, you'll have $10,000 in the next three months. Or I'm going to show you how you can live the laptop lifestyle. You can work five hours a week, make $10,000 a month, $10,000 a week. You're never going to have to worry about money again. Just buy this program. And now you're a prime candidate. Because now you were driven by this emotion of, I want that.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I can't imagine if I had an extra $10,000 a month and I don't even have to work for it. Because you can't see past it. All you're doing is being sold by emotion. And so you're the one that's going to get caught up in the get-rich-quick schemes. You're the one that's going to make the bank rich because you're going to stay stuck in debt.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Corporations are going to love you because they can keep selling you the nicest and newest stuff because you want to look rich, you want to show it off to your friends, you want to show it off to the girls. Und du bist in diesem Zyklus verbunden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
So, I'll tell you where I invest my money so you can understand. I put my money in five places. I put my money into my own business. I invest my money into real estate. I invest my money into stocks. I invest my money into speculative assets, which includes cryptocurrency. And then I own some physical gold. So, starting with my own business. I run a company called Briefs Media.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
We're probably most known for our market briefs newsletter, where we break down what's happening in the financial markets. So that's Briefs Media. Number two is I invest in physical real estate. So I'm going out to buy rental properties that I can use to generate cash flow. Nummer drei, I invest in stocks. This is in the form of investing in individual companies and investing in funds.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Funds are ETFs, index funds, mutual funds, where you can get investment into a broad basket of companies. Nummer vier sind meine spekulativen Investitionen. Siehst du, wie ich Nummer vier gesagt habe? Das ist eine der kleinsten Teile jetzt, die Dinge sind, die ich glaube, sehr schnell hochgehen können, aber auch so schnell fallen können.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also die spekulativen Aspekte, die eine kleine Teile meines Portfolios erzeugen, sind Dinge wie Start-ups, in die ich investiere. Es gibt auch Dinge wie Kryptowährungen. Und dann habe ich ein bisschen physisches Gold. Physisches Gold macht ungefähr 2% meines Portfolios. Aber zurück zu Kryptowährungen, weil das ist, was du gefragt hast. Ich denke, es ist ein spekulatives Investition.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich habe viel Geld in Kryptowährungen gemacht. Und ich habe die Kryptowährungen vorbeigemacht, als es heute so populär ist. Ich habe sie 2016 oder so begonnen zu kaufen. als Bitcoin ungefähr 3.000, vielleicht 2016, 2017, als Bitcoin ungefähr 3.000 Dollar pro Konto war. Und ich habe einige verkauft. Und für mich, verstehe ich, es kann sehr schnell hochgehen, aber es kann genauso schnell fallen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und das Problem, das ich habe, ist, wenn die Leute jetzt wollen, in diese Idee von Investieren zu kommen, Weil sie jetzt in dieser schwierigen Situation sind. Ich lebe Paycheck nach Paycheck und ich höre über diese finanzielle Bildung und Investition. Wenn ich einfach mein Geld in Bitcoin oder Krypto investiere, vielleicht wird es 10x und ich werde finanzielle Freiheit haben.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und das ist, wo ich Probleme habe. Weil du dein Geld nimmst und du gehst für deine langfristigen Investitionen in ein spekulatives Asset, das noch nicht beobachtet wurde. Vielleicht wird es funktionieren und du wirst ein Multimillionär werden. Vielleicht verlierst du alles. Aber ich will nicht mit meiner Werte kämpfen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich will meine Werte mit etwas Erfüllten bauen und dann spekulative Aspekte als etwas verwenden, das spekulativ ist und so behandelt wird.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also wenn wir auf Realität schauen, ist Realität wahrscheinlich knapp bei fast 50% meiner Investitionen. Okay. Stocks make up probably right around 30%. Speculative is about 18% of our portfolio.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Option Nummer eins war, dass du ein Arzt sein kannst. Option zwei war, dass du ein Fehler sein kannst. Und sie sagten, dass sie einen auswählen konnten. Und das war ich, als ich ein Jahr alt war.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
It was a lot more crypto. Now it's a lot more startups. I sold a chunk of Bitcoin when it was breaking record highs. And I'm going to be using that money to buy some more rental properties. Okay. And gold? About 2% of my portfolio.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And the reason why I buy gold, I don't, myself, don't consider gold an investment. I look at gold as a way of saving hard money. Because my theory... If I take $10,000 of cash and I take $10,000 worth of physical gold and I bury both of these things in my backyard today, In ten years, what's going to have more buying power? My theory is that the gold is going to have more buying power.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And so that's why I own some physical gold. For me, it's this way of saving hard cash. I look at it as an insurance against doomsday, against something really bad happening, against something bad happening to our currency, something bad happening to the economy. That's why I own a little bit of physical gold. But the problem with gold is, when I own my physical gold, it just sits there in a vault.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
It doesn't produce cash flow. It doesn't create new value. It just sits there. When I invest in real estate, it produces cash flow. When I invest in stocks, the companies are working to produce a better product, to grow their profits. The gold doesn't do anything. What about cash? Do you keep a lot of cash on hand? Cash is definitely a position.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Seitdem ich anfangen konnte, zu sprechen, haben meine Eltern jedem gesagt, nicht nur den Leuten um uns herum, sie nennen meine Familie in Indien, meine Familie überall im Land, dass Jaspreet wachsen wird und ein Arzt werden wird, weil er erfolgreich werden wird. Now, I had nothing against that, because I wanted to become successful too. I saw how hard my parents worked.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I don't know about percentage, but I always keep cash. And I want to break this down a few ways. Because I have one Let's call it bucket of cash, which is my emergency savings. This is cash that is there to protect me against an emergency, a personal life. I also have a separate bucket of cash, which is my business emergency savings.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Then I have a bucket of cash, which is there to be invested money. This is money that's waiting to be invested in real estate. Und dann habe ich auch noch ein kleines Stück Geld, das auf spekulative Aspekte investiert werden muss.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also habe ich Geld, das auf spekulative Aspekte investiert werden muss, Geld, das auf Real estate investiert werden muss, Geld, das auf Stock investiert werden muss und dann habe ich mein Ursprungsgeld. Also möchte ich es alle ausbreiten.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Die Mindset ist Nummer eins. Du musst glauben, dass du reich werden wirst. Was ich sagen möchte, ist, dass du sagen musst, dass du reich werden wirst. Warum? Weil wenn du nicht glaubst, dass du reich werden wirst, wird es für dich unmöglich sein. Warum? Ich habe früher in Detroit-Publiken studiert. Detroit ist ein... Es war ein sehr scharfes, und es ist immer noch so, scharfes Gebiet.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Einige Teile davon. Unser Büro ist in der Stadt Detroit, aber es gibt Teile von Detroit, die immer noch sehr scharf sind. Und ich habe in einigen der öffentlichen Schulen dort gelernt. Und das sind Kinder, gute Kinder, die nicht zu den besten Dingen ausgesprochen wurden. Und was ich damit meine, ist, wenn ich in diese Klassenräume gehe, You'd first have to go through multiple metal detectors.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
There'd be police there. You might have to be pat down. And when I get into the classroom, I'd ask the kids, how many of you have two parents in the home? Almost nobody would raise their hand. I would then ask, how many of you work a job? Almost everybody would raise their hand.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und als ich die Studenten besser kennengelernt habe, habe ich auch angefangen zu merken, dass diese Kinder, Highschool-Kinder, einige von ihnen sind bereits in Gangs, einige von ihnen haben bereits von der Polizei verhaftet, einige sind bereits involviert in diese, was wir als schlechte Dinge bezeichnen, und sie sind schlechte Dinge. Aber den Kindern ist das einfach normal.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Weil wenn ich mit ihnen über diese Gangs spreche, was sie mir sagen, ist, ich habe keine Eltern zu Hause. Ich habe keinen Vater, ich kenne meinen Vater nicht. My mom is working. How am I going to eat? My brothers, this gang, provide me some comfort because there's people that are around me. They give me food. They help give me money. It's not a bad thing in their eyes.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und wenn du in dieser Mindset wächst, ist es sehr schwer für dich, größer zu denken. Und wenn ich in diese Klassenräume kommen würde, würde ich über Leben, Motivation, Geld, alles reden. Und eines der Dinge, die ich machen würde, ein Übergang, das ich machen würde, ist, dich zu versuchen, über erfolgreiche Dinge zu denken. Was sind Dinge, die Kinder wollen? Ein schönes Auto.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also würde ich diese Kinder fragen, was ist dein Traumauto? Und die Antworten, die ich bekam, waren Dinge wie ein Ford Mustang oder ein Dodge Challenger. Und diese schönen Autos, aber ich würde folgen, warum nicht ein Bugatti? Warum nicht ein Lamborghini? Warum nicht ein Rolls Royce? Und sie würden sagen, jemand wie ich kann nie etwas so haben.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
My dad, if he got a Saturday and a Sunday off, it was considered a long weekend. I mean, my parents bust their butt, and I wanted to become successful so I could give back to them. And they told me that if I wanted to become successful, the way I do that is by becoming a doctor. Das macht Sinn, weil wenn du in der Schule bist, bekommst du diese Papiere, diese Karriere-Papiere.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also kann ich nicht mal träumen, dass ich diese schönen Dinge habe. Und das war wirklich schockierend für mich. Ich meine... that you are kind of suppressed to the point where not only do you not think that you can achieve it, but you can't even dream that you can achieve it. You can't even achieve it in your own dreams.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And so when you don't believe that you are worthy of anything more than a Ford Mustang, how in the world are you going to work for something nicer? And I'm not saying you have to work just for materialistic things, but this is that mindset shift that if you don't believe that you can do it, you are never going to be able to do it. Und so ist das, wo das erste Ding ist.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Du musst sagen, ich werde reich werden. Und manchmal musst du versuchen, den Geschmack des Erfolg zu finden und zu sehen, wie das aussieht. Und es gibt viele Möglichkeiten, das zu tun. Ich meine, du kannst einfach auf Instagram gehen und sehen, wie Erfolg für einige Leute aussieht. Aber du beginnst zu definieren, was das Erfolg ist und sagst dir, ich werde reich werden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Nicht, dass ich es kann, aber ich werde reich werden. Das zweite Ding ist, dass Geld ein Werkzeug ist. Und der Grund, warum ich das sage, ist, weil wir diese ganze Diskussion durch die ganze Zeit hinterfragen haben. Aber der Grund, warum viele Leute so Angst haben, über Geld zu sprechen, der Grund, warum Geld so ein tabues Thema ist, ist, weil wir uns nicht sicher sind über unser eigenes Geld.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich möchte nur kurz dorthin pausieren, bevor wir auf den Geld-Tool-Punkt weitergehen. Es ist so interessant, was du über diese Kinder sagst.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
100%.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und sie zeigen dir die verschiedenen Karriereoptionen, die du hast. Und jedes Mal, wenn du dir das anschaust, ist der Topf der Liste immer Doktor. Und sie sagten, Jasprit, wenn du erfolgreich werden willst, musst du Doktor werden. Und weil wir in dieses Land gekommen sind, musst du erfolgreich werden, also musst du Doktor werden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und es stoppt nicht auf irgendeinem Niveau. Wenn, zum Beispiel, ich meinen Eltern sagte, dass ich kein Arzt sein wollte, Ich wurde von allen gesagt, dass ich meinen Elternsbruch wegwerfe und dass jemand wie ich es nie im Geschäft machen kann, weil ich nichts in meinem Geschäft weiß. Keiner in meiner Familie ist ein Geschäftsführer. Keiner in meiner Familie ist ein Investor.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Keiner in meiner Familie tut das. Du hast das alles noch nie gelernt. Du hast nicht in die Geschäftsschule eingegangen. Wie wirst du das tun? Und ich sage das nicht, um zu vergleichen. Ich sage das, um zu erklären, dass es so viele Ebenen gibt, die dieses Mindset blockieren. that if you cannot break out of this invisible barrier, you will never become successful.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
When any employee joins my team, the first day we make every employee, every single one, regardless of their role, do this exercise. Es nennt sich das 9-Punkte-Exerzise. Und es gibt diese neun Punkte auf dem Bild. Und wenn du auf Google gehst, kannst du das 9-Punkte-Exerzise sehen, oder das 9-Punkte-Trivia, wo es neun Punkte gibt. Wir legen es auf das Bild. Ja.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und ich werde es nicht spüren, aber... Ich werde es, eigentlich. Das ist der einzige Weg, um es herauszufinden. Aber die Art und Weise, wie dieses Exerzise funktioniert, ist, dass du in vier Linien jeden Punkt auf dem Bild anfängst, ohne deinen Pen zu holen. Du musst jeden Punkt anfangen, alle diese neun Punkte, ohne deinen Pen zu holen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wenn du das tust, sagst du dir vielleicht, dass es unmöglich ist. Wie tust du das? Und das ist jetzt, wo... Oh, okay, nicht über eine vorherige Linie gehen. Du kannst über eine vorherige Linie gehen, aber du kannst deinen Pen nicht holen. Wenn es neun Punkte gibt, eins, zwei, drei, vier, fünf, sechs, sieben, acht, neun. Du musst alle neun Punkte mit vier Linien verbinden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Du kannst den Pen nicht kurven und du kannst deinen Pen nicht holen. Und die Leute werden sagen, das ist unmöglich. Und der Grund, warum du sagst, es ist unmöglich, ist, weil du nur eine unbeleuchtete Barriere geschaffen hast. Weil wenn du jetzt außerhalb der Box gehst, wenn du die Penne ein bisschen weiter auswählst, dann kannst du die ganzen Punkte verbinden. Und jetzt merkst du, oh.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Nun, ich habe nichts mit dem falsch gemacht, weil ich die Idee des Erfolgsauswuchses mag. Also ging ich auf diesen Weg. Währenddessen wusste ich, dass ich keinen Arzt sein will. Ich habe meinen Eltern gesagt, dass ich keinen Arzt sein werde. Meine Mutter hatte fast einen Herzinfarkt. Mein Vater konnte es nicht glauben.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
It is possible if I don't create these invisible walls around myself. If I don't put myself in this invisible box. And that's what we do. We're all conditioned to do this to some extent. If you grow up in poverty, it might be that you can never become any level of successful. If you grow up thinking that you're going to be this thing, it might be that you can never start a business.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
You can never become an investor. If you have become an engineer and now in your 30s you want to go out and do something different, it might be that somebody like you can never do something different. But these are all invisible boxes. You see it right there. And that is why we make every... Vielen Dank. So how do you do it? And so this goes into now your personal development.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
What I would recommend is go read five books on self-development, personal development. And really now try to implement these things into your life, because until you can start to think a little bit different, and you can start to see the world a little bit bigger, Du wirst nie das höchste Niveau des Wachstums erreichen, das du verdienst.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Du hast nur vier Linien und kannst nicht kurven. Ich kann nur vier Linien machen? Nur vier Linien. Vier rechte Linien. Es ist nicht so einfach, wie es aussieht. Komm schon, Steven. Zeig mir, wie man das macht. Also, was die meisten Leute tun, ist, dass sie anfangen, so zu gehen, und dann fressen wir uns ab, weil ich nicht weiß, wo ich weitergehen kann.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Aber die Art, wie du es machst, ist, dass wir den unbekannten Barrieren brechen. Also, was ich jetzt tun werde, ist, dass ich die gleiche Art starten werde, wie ich es vorher gemacht habe. Aber anstatt den gleichen Cut, den ich letzte Zeit gemacht habe, werde ich den unbekannten Barrieren brechen, ein bisschen weiter runter gehen. Und jetzt komme ich so hoch, Dann gehe ich in diese Richtung.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und dann werde ich es so beenden. Du brechst die unbeleuchtete Barriere. Du gehst über das, was du denken kannst. Weil du deine eigenen Erwartungen verpasst hast. Wir haben diese unbeleuchtete Box um uns herum. Und das ist, was du ausbrechen willst. Das ist der Mindset-Schiff, den du machen musst. Und das ist der erste Teil, um reich zu werden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Mein Vater sagte mir, dass ich, wenn ich die Freiheit in der Familie behalten will, zumindest ein Arzt werden muss. So I said, okay. I went to law school part time, worked on my business full time. Now today I am a licensed attorney, but I've never worked a day as an attorney.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Du kannst niemals den gleichen traditionellen Weg folgen und das wieder machen, weil du die andere Seite gesehen hast. Und bis du es spürst, wirst du entdeckt. Und das ist, wo, wiederum, jeder Erfolg mit seinem Mindset beginnt. Und deshalb sage ich, ich werde reich werden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
In jeder Phase deines Lebens bist du in einem Art von Barriere. Und, weißt du, Everything that you do now has to be constantly working to shock yourself. When I started my YouTube channel, it's kind of funny. I didn't start my YouTube channel thinking that it was going to be big. And the funny thing was, I always thought that I thought big. I think big, I'm going to start a business.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I'm going to prove everybody wrong. I didn't start my YouTube channel to make money. This was kind of a hobby for me. But I remember, and I laugh at this now, Ich habe meinem Bruder gesagt, als ich meinen YouTube-Kanal begonnen habe, wenn ich 100.000 Zuschauer erhalte, weiß ich nicht, was ich tun werde. Aber wenn ich 1.000.000 Zuschauer erhalte, werde ich meinen Kanal schalten.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And the reason why I've never worked as an attorney is because it's just not worth my time and it's not where my passion is. And along that way, that's when I learned that we're taught, this is how you win. Go to school, study hard, get good grades, get a good job. Und wenn du weiter daran arbeitest, wirst du erfolgreich werden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Denn es ist unmöglich, dass mein Kanal 1.000.000 Zuschauer erhalte. Es gibt nicht 1.000.000 Verrückte auf der Welt. Die wollen nicht, dass dieser random Junge auf YouTube über Guacamole und Geld spricht. Und das Lustige ist, dass ich diese Videos begonnen habe.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich habe angefangen, diese Videos zu machen, weil ich angefangen habe, über die Dinge zu sprechen, die ich wünschte, dass mir jemand vorher gesagt hätte. Und die Leute haben angefangen, zu schauen. Und die Leute haben angefangen, es zu genießen und es mit ihren Freunden zu teilen. Und dann hatten wir 100.000 Zuschauer und ich konnte es nicht glauben.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wir hatten 500.000 Zuschauer und ich konnte es nicht glauben. Und dann, eines Tages, hatten wir 1 Million Zuschauer. And I was like, oh crap, I hope my brother doesn't remember this promise because I don't want to shut this down. But then we continued growing. Und hier war ich, dieser Kerl, der erfolgreich war. Ich investiere bereits in Real Estate. Ich hatte ein bisschen Geschäftsverlust.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich wurde von der Idee herausgebrochen, ein Arzt zu werden und habe ein Geschäft gegründet. Und ich stelle immer noch diese Limitationen auf mich selbst, dass ich einen YouTube-Kanal starten kann. Warum habe ich das gemacht? Weil ich das noch nie gemacht habe. Ich habe das noch nie für jemanden wie mich gemacht.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Was ich tue, und ich weiß nicht, ob ich das jemandem anderen empfehlen würde, ist, ich bin ein bisschen traurig, ich werde es mit dem ausdrücken, ist, dass ich Dinge tue, um auszuhalten und anders zu sein. Was ich damit meine ist, ich gehe zurück zu dem, was ich vorher gesagt habe. Das erste Mal, als ich 1 Mio.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Dollar im Jahr verdient habe, dachte ich, dass ich in Privatfahrzeugen fliegen würde und alles machen würde. Aber ich wusste, dass ich etwas anderes wollen würde. Ich wollte diese Werte bauen. Aber ich wollte nicht wie alle anderen leben. Ich wollte etwas anderes machen. Also habe ich weiter klein gelebt. Deshalb bin ich weiter in diesem Auto gefahren, weil alle fragten, was ich eigentlich mache.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
People were wondering, is Jasprit actually successful or is this guy a hoax? Is Jasprit broke? Can you not afford a nicer car? And so I kind of put myself in this position of like hearing this stuff and wanted to really, you talked about confidence. I wanted to really build my confidence to be that person that did something different. And I, I don't know, I get joy, I'm a weirdo.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I get joy out of that. When I graduated law school, I told my dad before I graduated law school, even before, that I'm only doing this for you. And so when it was my graduation day, everybody, you know, you wear a nice suit and tie and you kind of get all dressed up to go. I told my dad, look, I told you I'm going to get you the diploma, but I'm going to do it on my terms.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
So I decided not to wear a suit. I decided to wear a very traditional Punjabi outfit called a kurta pajama, which is a long shirt and pants. And I wore traditional, it's called a Punjabi juti, meaning Indian shoes. And Auf dem ersten Punkt, dass es meine Aufgabe ist, reich zu werden,
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Aber wenn du die erfolgreichen Menschen anschaust, ist das nicht der Weg, den sie gefolgt haben. Und wenn wir uns die drei Dinge anschauen, die mehr Geld gebaut haben als alles andere in den letzten Jahrhunderten, dann ist es das Starten eines Geschäfts, das Investieren in Realität und das Investieren in Stocks. Aber auf meinem gesamten educativen Weg wurde mir das nie beigebracht.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also ich bin kein großer Fan von, weißt du, meditieren auf diese Idee, du wirst reich. Ich bin kein großer Fan von dieser Idee, ich werde reich werden, ich werde reich werden. Das ist nicht so, wie es funktioniert. Aber was ich glaube, ist, dass du dich immer daran erinnern musst und dir die Motivation und die Disziplin im Anfang geben musst, wieso du angefangen hast.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Etwas Nahrung, wieso du angefangen hast. Eine der Dinge, über die ich gerne sprechen möchte, ist, was ist dein Warum? Wofür machst du das? In unserem Büro hat jeder neben seinem Tisch dieses Taktbord, wo du Bilder oder was auch immer drauflegen kannst, um dich daran erinnern zu lassen, wieso du hart arbeitest. In the beginning for me, I was pissed off.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I wanted to prove people wrong and I was angry. I don't try to cuss on camera that often, but here we go. I was angry. The reason I was angry is because when I made that decision to not become a doctor, the thing that I was told was, was I'm throwing away the sacrifice that my parents made. And I started a business at the time. I was working in the e-commerce world and I started a sock company.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And so then the comments that we get was, so Jasprit, you were going to become a doctor. Now you're selling socks? Toxik-Fuel. Es war 100 Prozent. Es war nur Angst, nur pure Angst. Ich werde dich falsch beweisen. Und langsam begann das Geschäft zu wachsen. Ich wurde auf TV gesehen und all diese Dinge begannen zu passieren. Und ich war froh, dass mein Geschäft auch gewechselt wurde.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Jetzt verkaufe ich keine Socken. Ich baue diese Finanzmedienfirma, Briefs Media. Und jetzt für mich ist es, es gibt einen Zweck für das, was ich tue. There's a lot of people that are lacking financial education. There's a lot of people that are working really hard, that have no idea why they can't build any wealth, that keep hearing about how...
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
People are becoming so wealthy, investment levels are skyrocketing, billionaires are becoming even richer, and they don't understand and people just get angry. When in reality, you can participate in that same game and win in this game because our economic system is designed to benefit investors. And if you don't understand that, you will never be able to win in the system.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
You have to understand how money plays a part in your life. When I say money is a tool, what I mean by that is money doesn't make you a good person. Money doesn't make you a bad person. It amplifies who you are. And what I'd like to say... ist, dass es vier Fitnesse gibt in deinem Leben, wenn du ein glückliches und erfülltes Leben leben willst.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Du musst physisch fit sein, menschlich fit sein, spirituell fit sein und finanziell fit sein. Wenn du physisch fit bist, bist du auf deinem Todesbett, bist du morbidly obese, hat man 10 Millionen Dollar, das wird dich nicht glücklich machen. All you want to do is be healthy again. Mentally fit is about being happy.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wir konzentrieren uns darauf, wie man einen guten Job bekommt. Aber unsere reichsten Menschen konzentrieren sich darauf, wie man seine Aspekte wachsen kann. Und das ist die wichtige Unterschiede hier. Reiche Menschen arbeiten, um die Corporate Ladder zu gewähren. Alle anderen arbeiten, um die Corporate Ladder zu steigen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
If you're surrounded by toxic people, if you're unhappy, if you're depressed, if you're anxious, if you're just miserable, you're never going to be able to really enjoy life. Having more money is not going to fulfill that hole. Spiritually fit does not mean religious. It means having a purpose. What is the reason for getting out of bed every day?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
What is the reason for wanting to go out and achieve and do something? Because if you have 10 million dollars, what's the reason for wanting to get up and conquer? At the very top is financial fitness. And once you have the bottom three, having financial fitness gives you the most power and ability to live the best life possible.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Because this is all about now being able to solve your financial problems. Being able to not worry about paying your bills. Being able to have the nicer stuff when you want and not have to worry about the price.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And the thing about this that I want to really hammer home is if you don't have this financial fitness, now your physical fitness can get hurt because you can't afford the nice gym membership. You can't afford the healthy food. You can't afford to take care of your body. If you don't have the financial fitness, your mental fitness can get hurt.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Financial problems are one of the leading causes of suicide and divorce. Financial problems can really stress you out and they can cause a whole lot of anxiety and depression. Financial problems can also ruin your spiritual fitness because if you can't pay your bills, you can easily lose your sense of purpose. So yes, being financially fit is its own part, but it all comes together in your life.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und was ich damit meine, ist, dass du bereit sein musst, größer zu denken. Weil oftmals passiert es so, dass wir anfangen, über die Dollar zu denken, die ich gebe, als ob ich die Dollar bekomme. Wenn ich dir einen Dollar bezahle, bist du aus mir reich. But I'm not looking at what I'm getting. If I'm getting $2 from you, well, is it bad that I pay you $1? No.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And this is where now we need to start to understand there's a lot of money in the world. Just because somebody gets rich, that doesn't mean somebody else can't get rich. And the reason why we get this confused is because we assume that money is scarce. Und das kommt aus unserer Kindheit. Weil wenn du wachst, kämpfst du für die Aufmerksamkeit deiner Eltern.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
People don't like when I say this, but I don't say what I say to make friends. I say what I say to help people be better with money. There's a lot of people that are lacking financial education. And we're taught, study hard, get a good job. And if you continue working down that path, you're going to become successful.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und dann die nächste Sache, ich gehe zurück zu dem, was du gesagt hast, assuming that you don't have rich parents, because most people assume that you have to be rich in order to do this. You need millions of dollars. You need access to all this money. But that's not true. You can start now with $100, $10, but you have to get started. The problem is, most of us are never taught how to do this.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und es gibt eine breite Aufmerksamkeitsspanne, die eure Eltern haben. Wenn du Brüder hast, ist es jetzt dividiert. Und du kannst nicht alle Aufmerksamkeit haben. Also wenn deine Eltern ihre Aufmerksamkeit zu jemand anderem geben, bedeutet das, dass du keine Aufmerksamkeit bekommst. Es ist ein Ja oder Nein. Es ist ein Black and White. Aber mit Geld ist das nicht der Fall.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Du kannst reich sein und ich kann reich sein. But we have to understand that there's a lot of money in the world. I mean, the United States government has 35 some trillion dollars of debt. It's a lot of money. And so if you just take a small piece of that, a small piece of the dollars out there, you can build wealth and somebody else can build wealth.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Was du anfangen kannst, wenn du finanziell klug wirst, ist, dass du sagst, okay, ich werde anfangen, 75% von dem, was ich mache, zu leben. Und ich werde die anderen 15% investieren. Das bedeutet, ich werde 30.000 leben und save und investiere, wir nennen es 20.000. Du könntest jetzt sagen, ah, ich mag diese Idee von Investieren. Ich sehe das Potenzial. Was tue ich? I make $50,000 a year.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
There's a limited number of dollars that you can squeeze out of this pie. But there's no limit to how much you can earn. So what if I say, let's flip it up a little bit. How about instead of trying to squeeze more pennies out of this $50,000 that you have, Let's try to earn $500,000 a year now. And the first thing that's going to happen is, you're going to say, whoa, whoa, whoa, $500,000 a year?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
My boss is not going to give me a $500,000 a year salary. What are you talking about, Jasprit? Well, okay, let's break this down. If you want to make more money, how do you do it? I don't know. Well, let's start learning. Where are you going to go to learn? Google? YouTube? Okay, let's go to Google and YouTube. How can I make more money? Maybe you start by learning how to ask for a raise.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Maybe you learn to get a career change. Maybe you learn to change jobs. Or maybe now you start to think a little bit different and you say, maybe you start to build a side business or a side hustle. That way you can start earning more money. But until you realize that it's possible to, instead of trying to go from 50,000 to 55,000 to 58,000 to 65,000, let's try to go a little bit bigger.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
How about 50,000 to 500,000? And that's going to require, number one, you break out of that mindset shift, that invisible barrier, but also understanding there's a lot of money out there.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
So we discussed the first one, which is, I will become wealthy. The last one is, it is my duty to become wealthy.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Because I believe that it's up to you to take care of your family, to be the one that takes care of yourself, that we can also help take care of your community. Das ist mein Glauben, dass es Ihre Aufgabe ist, das zu tun. Und wenn Sie sich auf die Regierung oder jemanden anderen kümmern, um es zu tun, Well, you are asking for problems.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And, you know, we've seen this in many instances where you might have heard in the United States, Social Security is drying up. It's never going to dry up because the government can just print more money and pay it out. But it's never going to be enough to live a great life. People that relied on pensions, well, pensions are becoming a thing of the past.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
But unless you start doing this, you're never going to build wealth. And that's the way that you win in this economic system.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Some pensions have gone bankrupt and people have lost that. So it is more important than ever for you to become financially sufficient and financially stable through your own financial education.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
If we take a look at the last 15 presidents in the United States, some have been Democrat, some have been Republican. The stock market has gone up under Democratic presidents, it's also fallen under Democratic presidents. The stock market has gone up under Republican presidents, it's also fallen under Republican presidents. So, what does that mean?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Well, if you were just investing for the long term, who cares? But for some investors that will call it a little bit more sophisticated, you might want to understand what the president is going to do in terms of shifting government spending. Now, I'm going to make this a little bit technical, but let me kind of break this down. Our economy is measured through a number called GDP.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And GDP is a measure of all spending that happens in our economy. In the United States, the largest spender is the government. 30% unserer GEDP, unsere Wirtschaft, ist die Spende der Regierung. Das bedeutet, dass es bestimmte Entitäten gibt, bestimmte Unternehmen, die sich davon abhängen, wo die Regierung Geld verdient.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und das kann dann die Stocks beeinflussen, es kann die Industrien beeinflussen und es kann die Unternehmen beeinflussen. Also jetzt, brechen wir das mal ab. Wenn du ein langfristiger Investor bist, investierst du in die S&P 500, investierst du in generelle ETFs und Indexfonds und Mutualfonds, es macht keinen Sinn.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Aber wenn du, sagen wir mal, etwas mehr sophisticated bist, du willst verstehen, wie sich die Regierungen der Regierung verändern, können wir jetzt etwas tiefer nachdenken. Vor der Wahl haben wir den ganzen Bericht in Market Briefs Pro veröffentlicht, in dem wir darüber gesprochen haben, dass, wenn Trump Präsident wird, hier die Dinge sind, die er gesagt hat, dass er tun wird.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Nummer eins, er will Öl und Gas de-regulieren. Nummer zwei, er will die Finanzdienst-Industrie de-regulieren. Und Nummer drei, er will in die Militär investieren. Also, wenn wir das zusammenbrechen, Öl und Gas, das sind Unternehmen, die investieren und Öl drücken.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und wenn diese Unternehmen weniger Regulierungen haben und mehr Fähigkeit, Produkte zu produzieren und mehr Produkte zu verkaufen, könnten sie größere Revenue und größere Einkommen sehen. And crypto as well. And crypto. Crypto since the news that he's going to be inaugurated. The prices have just skyrocketed. Exactly. Und Nummer drei ist das Investieren in die Militär.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Was bedeutet es, in die Militär zu investieren? Wenn wir in die Militär investieren, bedeutet das, dass wir trainieren werden, mehr Waffen schießen, mehr Kugeln schießen, Artillerie haben, Flugzeuge und andere Machinerie haben. Und diese werden dann von privaten Unternehmen gemacht. Und wenn die Regierung spenden kann und wählt, wo sie Geld spenden kann,
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
and the government then decides that they want to spend more money or allow companies to be more free to do whatever they want in these industries, those industries then have the ability to potentially grow their revenues, grow their profits, grow their stock prices.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
These can then create what we call a government shift, because the government spending shifts, and that can create an investment opportunity for investors that want to be a little bit more sophisticated. But I'm going to say this again. As a long-term investor, forget the collection cycles. You're investing for the long term.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
What you invest in is going to depend on what's best for you. But the way I like to look at it, for me, because I can't tell you what to do. ist für mich, wenn ich in Real Estate investiere, ist, dass ich ein 7% Cash-on-Cash-Return-Minimum suche. Was bedeutet das?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also, wenn ich heute einen Dollar investiere, brauche ich 7 Cent Cashflow nach Kosten jedes Jahr für meinen Dollar, den ich investiere. Also, wenn ich ein, sagen wir mal, 100.000 Dollar Haus kaufe, und ich werde es sehr einfach halten, wir werden keine Schuld haben. Ich nehme 100.000 Dollar aus meinem Bankkonto und kaufe dieses 100.000 Dollar Haus, das ich dann ausbauen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Das ist das, was 7% Cash-on-Cash-Return bedeutet. Für mich preferiere ich Single-Family-Häuser oder Multi-Family-Apartmenten. Das ist genau da, wo ich angefangen habe und da habe ich mehr Erfolg gefunden. Und es ist ein bisschen innovativer, weil wir wissen, dass Offiziere nach oben und nach unten gehen können. Wenn Unternehmen von zu Hause arbeiten, können Offiziere beeinflusst werden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Der Verkaufssektor kann beeinflusst werden, wenn Unternehmen online gehen. Und wir sehen, dass es viele Veränderungen in den Verkaufsbereichen gibt. But at the end of the day, you got to find what's right for you and how involved you want to be. When I invest in real estate, I want it to be passive for me.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
That after I find a property, after we do the renovations, I want to give the keys over to a property manager. Ich will mich nicht darum kümmern.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Nein, ich nicht. Und der Grund dafür ist, dass ich andere Dinge machen muss. Und ich will nicht meinen Zeitraum für die Anwendung des Hauses verbringen. Ich will meinen Zeitraum für die Anwendung, ich will meinen Zeitraum für die Investition, aber ich will meinen Zeitraum nicht für die Anwendung verbringen. Was ist der beste Investition, den du je gemacht hast?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Der beste Investition, den ich je gemacht habe, ist der Investition in mich selbst. That has given me a much better return than any real estate, than any stock and even than any cryptocurrency. And when I say best investment in myself is two things. Number one is the investment that I have made in my own education outside of school. So books, podcasts, classes, coaching. Number two. Die Fehler.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich habe viele Fehler gemacht. Sie haben mir viel Stress, viel Schmerzen, viel Geld gekostet. Aber sie haben mir viel gelernt. Also, wir sprechen über Realität für einen Moment. Wenn wir zurückgehen zu der ersten Kondos. Die Sunshine and Rainbows ist eine Rente, die ich für 600 Dollar pro Monat verkaufe. But the downfall or the risky part and the bad part is that I made every mistake possible.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Nummer eins, ich habe einen schlechten Vertreter geholt. Nummer zwei, ich habe einen Verwaltungsmanager geholt, den ich nicht erkannt habe, dass er ein falscher Verwaltungsmanager war. Wir haben nicht einmal mit dem Verwaltungsmanager eine Liste gegründet. Ich habe nicht einmal einen Vertrag mit dem Verwaltungsmanager gegründet. Sie waren nicht mit den Verwaltungsmanagern zusammengearbeitet.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und sie haben dem Verwaltungsmanager mein Telefonnummer gegeben. Also bin ich hier, sitze in meiner Organik-Chemische-Klasse, kriege Anrufe von meinem Verwaltungsmanager, der sagt, das Verwaltungsmanager wird explodieren, weil die Lichtbulbe füßt. Then we brought in a bad tenant.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Well, I could have either, number one, had a real estate investor that I could have talked to, which I didn't have access to. I read a lot of real estate books. So if you say, what could I have done differently?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
You can learn as much as you want.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
It is a part of the process. You can learn everything you want, but every real estate deal is unique. You are going to screw up. And I have made a lot of screw ups. But once you get through the screw ups, it becomes a lot easier. I call it the hurdle. But then things get even more exciting. Because now I bring on a new property manager. And True story. Und jetzt habe ich hier diese Gesetzgebung.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Yeah, so when I was in grade school, I began working at Indian Weddings. I played a drum called the dhol. It's a Punjabi drum. That's where my family is from in India. And I used to play this drum at weddings. Now my parents didn't like that I did this because anything that was not math or science was like, you don't do this. So I had to play this drum in secret.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich bin 21, 22 Jahre alt. Ich habe keine Ahnung, was da passiert ist. Jasper, waren die Battenzüge zu dreckig? Na, ich werde dir genau sagen, was passiert ist. There was a chip about the size of a quarter in the bathtub. The paint had chipped. They filed a complaint with my new property manager.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Thank God I switched property managers, because what a good property manager does is they're going to document everything that happens. So my property manager documents that, okay, tenant complains of a chip in their bathtub. We send out the contractor. So the property manager sends out the contractor. They go there to fix the chip in the bathtub. And you know what the tenant says?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Can you come back a different time? My husband slipped and fell at a friend's barbecue, and so we don't want you to fix that chip today. The contractor says, okay, we note this down. He tries to then fix the chip three more times, but the tenant denies it every single time. So we thought, okay, just let us know when you want the chip fixed. The contractor is waiting.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
They never brought it up again. Then we get this lawsuit saying that we were negligent, that I'm this evil, greedy human being, because I refused to fix this chip in the bathtub, which made the bathtub slippery when the water was on, which caused this person to slip and fall and break their hip. Und jetzt gehen wir durch den Entschuldigungsprozess.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Glücklicherweise hatte ich Insurance, aber die Insurancefirma muss immer noch für den Staatsanwalt bezahlen. Ich muss immer noch durch all die Procedures involviert sein. Und jetzt sagen sie, weil ich diesen Chip nicht geschliffen habe, habe ich den Kühlschrank kaputt gemacht und das ist das, was diesen Anwalt getötet hat.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Aber wir hatten die Dokumentation, die sagt, dass er sich geschliffen und auf einem Freundesbarbecue gefallen ist. Und dann gehen wir durch die Krankenhäuser. Und wir haben herausgefunden, dass dieser Mensch sich geschliffen und auf einem Barbecue fallen ist. But they wanted to get some money out of this rich landlord. I'm a 22-year-old kid, a 21-year-old kid. I have no idea what's going on.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And so the insurance company had to settle. They paid $14,000 to make the case go away.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Aber ich habe an Gebäuden gespielt und habe damit ein bisschen Geld verdient. Und bei ein bisschen Geld meine ich 50 Dollar pro Geburt, wenn ich in der Middle School war, dann vielleicht 100, 200 Dollar in der High School. Und einer der DJs, mit dem ich gearbeitet habe, sagte, Jasper, du kennst viele Kinder in der High School. How about we host a teen party for some of these kids in your school?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich war in einer Runde. In einer Runde, ja. Ich wollte es machen. Und so fand ich den günstigsten und schnellsten Kontraktor, den günstigsten und schnellsten Landwirt, den günstigsten und schnellsten, oder nicht den günstigsten, aber den schnellsten Tenant, den ich bringen konnte, weil ich es schnell machen wollte. Ich wollte es schnell machen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
One of the most expensive things that you can do is be cheap. And I learned that the hard way because I was born to be cheap. I talked about how Indian people make a dollar to spend 20 cents. That was my family growing up. And that was the way that I was raised. That if you become a doctor, you'll make a nice six-figure salary. You can live off of $30,000 a year and save a whole lot of money.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und ich habe es nie beantwortet. Aber das ist ein sehr einfaches, nicht Geld zu sparen. Das ist, wie man Geld baut. Weil wenn ich dir Geld gebe, bedeutet das, dass ich meine Geld nehme und es dir gebe und nichts zurückbekomme. Und das geht zurück zu dem Grundsatz, dass Geld abenteuerlich ist. Und diese Schwierigkeitsforschung ist eines der teuersten Dinge, die du tun kannst.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und ich gebe dir eine Geschichte davon. Ich habe dir gesagt, wenn du über Fehler reden willst, können wir für Stunden und Tage über meine Fehler reden, weil ich viel verpasst habe. I had an accountant and I figured that if I'm paying less money in accounting fees, I am saving money so my business can keep more money, I can build more wealth, right?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
But one of the most expensive things that you can do is be cheap. So I had this accountant that was cheap. All he did was file my taxes. Kind of. I mean, he was late and whatever, but he was cheap. The monthly payment was cheap. So I didn't really care too much because I got the taxes done.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und dann habe ich mich immer gefragt, warum wir nicht darüber sprechen, was ich für eine Steuerplanung machen soll. Es ist einfach so, dass ich am Ende des Jahres dieses große E-Mail bekomme, sende mir all deine Sachen. Und dann höre ich von ihm nicht lange. Und dann sagt er, ich habe dieses Papier gezeichnet. Und ich habe nicht wirklich viel davon gedacht. Aber dann war es ein Jahr.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Es war Januar. Ich bin in meinem Büro. Und ich bekomme einen Anruf morgens von meinem Accountant. Und wenn du von deinem Accountant einen Anruf morgens im Januar bekommst, ist es nie ein guter Anruf. I didn't know that. He calls me and says, Jasprit, how are you doing? I said, I'm good, how are you? Thinking I'm going to get some good news. He said, hey, I made a little mistake on the taxes.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Could you do me a favor and wire $18,000 to the state of Michigan by the end of the day? I said, excuse me? He said, oh, also, could you also by the end of the day please wire $100,000 to the federal IRS by the end of the day? Entschuldigung? Oh, und das letzte Teil, du wirst auch Penalität und Interesse bezahlen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Okay, why not? So we hosted this teen party and it was a big success. At the end of the night, the DJ then starts paying all the costs because we were going to go in 50-50 on this business venture. Und dann bezahlen wir das Geld für die Sicherheit, für das Publikum, für die Marketing. Und dann sagt er, okay, lasst uns unsere Profite zählen. Und er hat vier Karten in seiner Hand.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und es hat mich einen Moment gedauert, um all diese Informationen wirklich zu erzeugen. Also willst du, dass ich hunderttausend Dollar am Ende des Tages schicke? Whose Schuld ist das? Und ich erinnere mich an diese Antwort. Er sagte, es ist niemandes Schuld. Und, you know, I didn't really process what he said, but I had to think through this. I said, whose fault was it? It's my fault.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And I learned.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I hired a new accountant who cost me many, many, many multiples more than what I was paying before. But you know the crazy thing? It's actually saving me more money now because we do this tax strategizing, which then allows me to pay less money in taxes legally, even though I pay more money to my accountant.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Yet most people buy a house they can't afford and statistically are living paycheck to paycheck. In fact, that's 78% of Americans. Because ironically, the key thing that keeps so many people poor for the rest of their life is they're scared to look broke. So what do I do? Well, the first thing you gotta understand is the 75-15-10 plan, which is... But now let's dig this a little bit deeper.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und er sagt in einem Interview, das ich auf dem Screen spiele, er sagt, Ich habe viel meiner Erfolg aufgrund diese wirklich geistigen Menschen zu finden und nicht für B- und C-Spieler zu verabschieden, sondern wirklich für die A-Spieler zu gehen. Und ich habe etwas gefunden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich habe gefunden, dass wenn man genug A-Spieler zusammenbekommt, wenn man durch die unglaubliche Arbeit geht, um fünf dieser A-Spieler zu finden, dann lieben sie es wirklich, mit einander zu arbeiten, weil sie niemals die Chance hatten, das zu tun. Und sie wollen nicht mit B- und C-Playern arbeiten. Es wird also Selbstverwaltung. Und sie wollen nur mehr A-Player anbieten.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Man baut also diese A-Player-Pockets auf und es propagiert.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
It goes back to, we talked about touching the fire. Becoming successful means you're going to make mistakes. You have to make mistakes. You cannot bypass the mistakes. You asked me, how does somebody do this without the mistakes? You're going to make your own.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
But the difference between somebody who becomes successful and somebody who does not become successful is they are willing to make those mistakes. See, most people say, I don't want to try to touch the fire. I don't want to risk it. But until you touch it, until you screw up, you're not going to know what's hot. And you've got to be willing to screw up.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Eins, zwei, drei, vier. Es sind vier Singles übrig. Zwei Dollar für ihn, zwei Dollar für mich. Und ich sah, dass wir so viel Arbeit in diese Geschäftsforschung, in diese Idee, in diese erste Party. Und wir haben vier Dollar Profit verdient, die wir 50-50 zählen. Und in dem Moment war er wirklich überrascht, aber ich war wirklich nicht überrascht, weil ich dachte, das war Spaß.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Can I tie that together now with wealth? When people ask me, why is it that so many people are poor and struggling with money? I say, there's two things at fault. And there's two ways you can look at it. Es gibt die, es ist deine Schuld und die ist meine Schuld. Und ich möchte immer über beide sprechen, weil du das verstehen musst. Weil es sich sehr gut verbindet.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und ich genieße all die guten Worte, weil ich das wirklich genieße. Aber wenn ich sage, es ist deine Schuld, schau, unser ökonomisches System ist designt, um von Menschen, die finanziell dumm sind, zu verdienen. Period. Banks profit when you're financially stupid because that means you stay in debt and they keep making interest for the rest of your life.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Corporations profit when you're financially illiterate because that means you're going to keep buying their stuff and not think twice. And they're going to hire the best and smartest MBAs to get you to open up their wallets.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Number three, the government is going to profit when you're financially illiterate because that means you don't do anything outside of your W-2 job and you're going to pay the highest tax rates. You profit when you're financially educated. So now, what can you do? You can say, they're the reason I'm broke. This company is the reason why I'm broke. My company is the reason why I'm broke.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
The government is the reason why I'm broke. The banks are the reason why I'm broke. Well, that's not what I'm saying. That's just part one. The second part to part one, before I get to part two, is once you understand this, you can learn how to win. You can learn how to use the bank. You can learn how to use corporations because you want to have nice stuff.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
You can learn how to use the resources that the government has. But now let's flip the script. The second part to this that you need to understand, it's your own responsibility. Because if you spend every dollar that you earn, you're never going to become wealthy. If every time you make money, you go on a nice vacation, you're never going to build wealth if you can't afford it.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
If you just make money and you make everybody else around you rich before you make yourself rich.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And you know what? Here's the thing. It might not be all your fault. Okay, now what? Now what? You were. Now the question is, are you going to take that responsibility today going forward or not? And you have to take that drastic responsibility. You have to take that drastic mindset shift. And that's what you have to do. And it's difficult. Who wants to blame themselves?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Es war viel Spaß, das zusammenzubringen, aber in meinem Geist war es nur eines dieser Hobbys, die ich gemacht habe, weil ich einen Arzt werden musste. Well, I did a few of those teen parties when I was in high school. And now it was time for me to go to college. I was 17 years old. And I get there. And I see everybody partying, drinking, blowing money they don't have. And I was shocked.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
But if you want to change where you are, They're not going to do it. Your banker is not going to say, hey, Steven, you know, you can't afford this car. Don't take this debt. Don't take this house. Because if they can sign you up, they're going to want to get paid. They're in the business of making money. Not for you, but for them.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Gucci is not going to say, maybe you should buy some stocks instead of this purse. Because they're going to want you to buy their stuff. The government is not going to say, hey, why don't you take a look at our balance sheet? I'm going to take this little tangent. The government says student loans are a problem. We've all heard that.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Millennials can't buy houses, they can't buy their home, they can't invest because they have student loans. The government says student loans are a problem. Really? Let's take a look at the United States balance sheet. Your balance sheet is your asset and liability statement. The number one largest asset on the United States government balance sheet Our student loans.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
So here we keep saying, oh, student loans are bad. We keep hearing this from the government. But on the other hand, the government is so rich because of the student loans. Because so many people are stuck in these student loans. And guess what? You pay the highest tax rates when you are just an employee. I'm an attorney.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I'm not your attorney, but I am a licensed attorney and I spend a lot of time studying the tax law. Und was ich dir sagen kann, ist, dass die Tax-Law dich gewinnt, wenn du ein Investor bist. Im Jahr 2024 wird der CEO von Coca-Cola, James Quincy, etwa 8 Millionen Dollar in Geldkompensation verdienen. Er wird auch Geld bekommen, aber etwa 8 Millionen Dollar in Geldkompensation.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Sein Top-Tax-Rate auf diese 8 Millionen Dollar wird 37 Prozent sein, auf die föderalen Taxen in den USA. Warren Buffett wird über 700 Millionen Dollar von Coca-Cola-Dividenden in 2024 verdienen. Sein Top-Tax-Rate wird 20% sein. Er verdient viel mehr als der CEO, aber er wird weniger in Taxen auf einem Prozentlevel bezahlen, weil er das Geld als Investor gemacht hat.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Elon Musk is interesting because he's a risk taker. And he chose to get paid not in salary. And if we look at the tax benefit from this, it's because you were taxed Not on your income. That's not what the tax code says. You are taxed based on your taxable income. So now every smart accountant is going to focus on reducing your taxable income.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And so what Elon Musk did is when he was building Tesla, he negotiated with the investors and the board that I want to get paid, not with a salary, I want to get paid with stock options. A stock option gives you the right to buy that stock. And he was awarded these Tesla stock options at about $6 a share.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Das bedeutet, wenn der Tesla-Stock bis zu 7 Dollar pro Teil erhöht ist, könnte er diese Stockoption für 6 Dollar verkaufen und 1 Dollar für jede Stockoption verdienen. Nun, er wurde von Millionen und Millionen und Millionen dieser Stockoptionen gegeben. And so now when the Tesla stock goes up to $100 a share, now he is rich on paper. He doesn't have any money in his bank.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
He hasn't gotten a salary, so he has no taxable income, because he hasn't actually received any money. He has the option to sell this stock for $6 and in return get $100, so net 94. But if he sold that stock, he would have $94 of income. Now you have a tax, because you have taxable income. So instead what he does is he goes to the bank.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I had no idea that people went to college to party. And I had no idea people got the money to spend money on all this alcohol. I don't drink. I'm not into partying. But now I needed something to do on Friday nights. And so now I'm thinking, what do I do? How about I take this teen party business concept that I had in high school and now do it in college?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And he says, hey bank, I have these millions and millions of stock options that are worth billions of dollars. Would you like to loan me a million dollars, ten million dollars, a hundred million dollars at three, four or five percent interest? Kein Bank wird Nein sagen, weil der Kollaterale so wertvoll ist. Was ist der Kollaterale?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Der Kollaterale ist die Firma, das sind seine Komponenten, die Stockoptionen. Das ist Tesla in diesem Fall. Das ist Tesla in diesem Fall. Also dann bekommt er, lass uns sagen, einen 10-Millionen-Dollar-Lohn vom Bank. Jetzt hat er 10 Millionen Dollar in seinem Bankkonto, aber es ist kein Einkommen, es ist Schulden. Debt ist nicht bezahlt.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wenn du eine Mortgage für eine halbe Million Dollar bekommst, bist du nicht bezahlt. Wenn du eine Refinanzierung mit Geld machst, bist du nicht bezahlt, weil das Debt ist. Jetzt bekommt er diese 10 Millionen Dollar Lohn, die er spenden kann, um ein Haus zu kaufen, ein Auto zu kaufen, Essen zu kaufen, Verkauf zu kaufen, was auch immer du willst. Um Twitter zu kaufen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Um Twitter zu kaufen und keine Geld in Zinsen zu bezahlen. Und es ist 100% legal. Jetzt sagst du, Jasprit, wie bezahlt er es zurück? Well, let's just assume that you're going to get a 5% interest on this. If the value of Tesla goes up by, say, 7%, he made a profit. So now he can go back to the bank and say, how about you give me an additional $10 million? And he can pay back the old loan.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Because the value keeps going up. And as long as the value keeps going up, no problem. But you can start to see where this gets risky. Because if Tesla goes bankrupt... Jetzt sprechen wir von einem Haus von Karten, das sich zerstört. Und jetzt hast du all diese Schuld, die du bereits gespart hast, und keine mehr kollaterale.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Denn sobald du Margin-Rechte machst, schlägt die Panik. Und jetzt musst du die Bank verkaufen. Und jetzt versucht die Bank, die Dollar, die sie ausgeliefert haben, zurückzuholen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Das erste Problem ist, dass wir eine riesige Bevölkerung von alten Menschen haben, Babyboomern, die verabredet sind oder im Vertrieb sind, die nicht genug Geld haben. Das ist nicht nur die USA, das ist auch die UK, wie du gesagt hast, was ein paar Probleme bildet. Nummer eins, wer wird sie kümmern? Nummer zwei, wer wird sie kümmern, die sie kümmern? Die Regierung hat nicht so viel Geld.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And the people that are going into retirement don't have that money. And their kids many times don't have that money. That's the first issue. And now as we start to dig into that, we have people that are working longer and Es erzeugt jetzt dieses Problem in der Zukunft, das wir heute sehen können.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
So I was 17 and I started knocking on the doors of all the bars, venues, restaurants, trying to see if anybody would let me host a party there. And in the beginning, some said, sure, you can host a party here. We just need a $10,000 deposit. I don't have $10,000. I was 17 years old. So I kept going. Some said I need a $20,000 deposit.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wenn du in deinen 50ern, 40ern, 30ern, 20ern, Teenern bist, kannst du sehen, dass es dieses Problem gibt, das passiert. Wie können wir das heute vermeiden? Weil ich weiß nicht, was die Lösung für diese Retirementkrise ist. Ich habe keine Lösung für das.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Laut USA Today brauchen wir etwa 1,8 Millionen Dollar, um sich in Ordnung zu machen. Wow. Und der Grund, warum, ist, dass wir jedes Jahr Inflation haben. So, if you live off of $50,000 this year, you're going to need maybe $52,000, $53,000, $54,000 next year, more the year after that, more the year after that. And $50,000 doesn't buy you what it did 30 years ago.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And so now when we take a look at all these issues happening, the question is, what do you do today to prevent these issues in the future? Und in den Vereinigten Staaten gibt es das, was wir Social Security nennen. Das ist eine Regierungsbewertung, die man bekommt, wenn man vertreten ist. The first problem is Social Security. Because Social Security is drying up. This is a fact.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
That if you read the headlines, they'll say Social Security is going to be dry by 2034. If nothing changes. The problem is, people are paying money in, but the government is paying out more than what's going in. So from any business perspective, if you have more cash outflows and cash inflows, you have a problem. And the reason for that is, well, number one, the math was wrong.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And number two, people are living longer. So when the government keeps paying your social security check longer and longer and longer because people are living longer, life expectancy is getting higher, that means they have to keep paying. That's not good for the government.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Now, on the plane ride here to LA, I sat next to somebody who was telling me, I didn't verify this, but he told me that the government knew that this was going to be a problem from the get-go, because he told me that the first recipient of the Social Security program lived to 100. I don't know if that's true or not, but you can Google that to see. But that's the problem right now.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Social Security is running out of money. And this is where everyone says, Social Security is going to run dry, you're never going to get a Social Security check. That's not true either. Die Grund, warum ich das sage, ist, weil die Regierung es nicht verletzen wird. Sie werden entweder deine Steuern erhöhen, oder sie werden das Geld einfach impfen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Aber das Problem damit ist, dass du niemals komfortabel aus der Social Security leben wirst. Das war nie die Intention. Aber viele Leute schauen es an, als ob sie sich komfortabel aus dieser Regierungsbemessung leben können. Aber hier ist das Problem. Schauen wir uns das heute an. Zwischen 2024 und 2025 Social Security Recipients are going to receive a 2.5% raise for inflation.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
What they're saying is we have this inflation in 2024. And because of this inflation in 2024, you're going to get a 2.5% raise. There's two problems with that. Number one, that raise is not enough. Things are getting a lot more expensive. Even though the rate of inflation is falling, I mean, a 2.5% raise is not going to keep up with the real cost of living growth that most people feel.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
But eventually I found this one club that said, yeah, you can host a party here. You don't got to pay us anything. Just pay us half of the cover charge that you generate. Pay us 50% of whatever revenue you generate. Now I'm in business. I made the same arrangement with my DJ. I said, look, how about you DJ for me for free and I'll split whatever profits I make with you.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Das zweite Problem ist, dass es eine verlangte Ausgabe ist. Die Regierung gibt dir eine Ausgabe im Jahr 2025, basierend auf der Inflation, die du im Jahr 2024 hattest. Also hatten wir bereits diese Preisgröße. Und dann kriegst du die Ausgabe nächstes Jahr. Und schau dir das an, wir werden mehr Inflation im Jahr 2025 haben.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also, sich auf Social Security zu verlangen, ist eine verlierende Proposition. Was das nächste Teil dieses dreilegigen Stuhls bringt. Du hast Social Security, dann hast du Pensions. Pensions have become a thing of the past. I mean, if you're under the age of 45, chances are you're not getting a pension.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And even if you're over the age of 45 and you're promised a pension, you better cross your fingers to hope that that pension fund does not go bankrupt. Because there have been many pension funds that have gone bankrupt and people are left with nothing. Which leaves number three. Your own savings and investments. Und hier haben wir so viel Unverständlichkeit, weil die Leute nicht genug tun.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Das geht zurück auf die ganze finanzielle Bildung. Wir machen Geld, um Geld zu sparen. Das ist die amerikanische Kultur. Ich mache 1.000 Dollar, ich muss 1.000 Dollar sparen, vielleicht 1.200 Dollar. But you're never going to be able to retire with that sort of mindset. And here's the second problem with that. I'm just going to lay the problems and we'll come up with a solution.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
You might say, well, I need a financial advisor. No good financial advisor nowadays wants to work with anybody under $500,000 in assets. Maybe $250,000 in assets. Maybe, if you get lucky, $100,000 in assets. But if you have under that... They don't want to work with you because they want people that have some money to actually make money off of, right? The financial advisor's got to eat too.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
So if you don't have the investments, you don't have the education, now you're stuck. And this is where now your financial education comes in. Weil wenn du Geld bauen willst, du willst Quote-unquote-Retirement haben, musst du etwas anderes machen. Du kannst nicht immer das tun, was die Mehrheit der Menschen tun.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Weil wenn du immer das tun, was die Mehrheit der Menschen tun, wirst du wie die Mehrheit der Menschen. Und gerade jetzt, das ist gebrochen, in Wachstum, living paycheck to paycheck, fattig und unglücklich. Und ich sage das nicht als generelles Termin, ich meine statistisch, das ist, was die Mehrheit der Menschen sind. Besonders in Amerika. Also jetzt kommen wir mit der Lösung.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Weil wir haben das Problem herausgelegt. Die erste Lösung ist, was Retirement ist. Ich werde hier ein bisschen philosophisch sein, aber ich habe meine Probleme mit traditionellem Retirement. Es gibt ein Sagen, das sagt, diejenigen, die früh retiren, sterben früh. Der Grund ist, dass wenn du arbeitest,
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
from the age of 21 to 65, maybe 67, at a job you hate, but you work every single day and all you're looking forward to is retire at 67. You retire at 67, you have this great big retirement party. Now you come home and you sit on the sofa and you start watching TV. You start to lose your sense of purpose. And I've seen this very closely with people in my, not my family, but close to my family.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und das war der Anfang meines ersten echten Geschäftes. Es war diese Party-Promotion-Familie, die dann eine Event-Planning-Familie wurde. Und es wurde ziemlich groß in der Schule. Ich meine, ich habe angefangen, diese One-Off-Partys zu hosten. Dann wurde ich von einem der größten Clubs auf der Kampus verabschiedet, um ihre wöchentliche College-Nacht zu hosten.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich habe Menschen gesehen, die gesund und energetisch waren. Vielleicht liebten sie ihre Arbeit nicht, aber sie hatten einen Grund, jeden Tag nach Hause zu gehen, nach der Arbeit zu gehen, sich zu verlassen und wirklich verrückt zu gehen. Ich meine, du hast nichts zu tun. Und jetzt beginnst du, Krankheiten zu sehen, die du vorher nicht hattest.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Du beginnst, körperliche Krankheiten zu haben, die du vorher nicht hattest. Und all diese Dinge beginnen einfach zu passieren, wenn du in deine goldenen Jahre kommen würdest. Auch wenn du das Geld hast, Dinge zu tun. So, when we talk about what is retirement, I want to caution everybody, or if you have parents, to start thinking about what do you want to do during retirement?
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Because if your goal is to do nothing, you might enjoy it for the first few weeks, maybe six months, but eventually you're going to get bored. So you got to have something to do. Then it's the financial side of retirement. What is retirement? And I have a different definition than most people. Most financial advisors don't like me for the things that I say.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
But my definition of retirement is the same as my definition of wealth. Wealth is... For me, when my cash flow from my investments exceeds my expenses. It's very simple. If my expenses are $4,000 a month and my cash flow from my stocks and my real estate and everything else is paying me $4,001 a month, I am wealthy.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
So now, the question is, how do you actually achieve this type of wealth, retirement? The reason why I don't like the word retirement as well, besides the connotation of I'm going to do nothing, is they assume that I've got to be 67 years old to hit this retirement. When you can achieve this wealth way sooner. And now you have more options. Also Retirement ist Geld.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Geld ist, wenn dein Geldfluss von deinen Asseten über deine Kosten übernimmt. Wie machst du das jetzt wirklich? Nun, du musst die Asseten kaufen. Und um das zu tun, musst du das Geld haben. Und viele Leute glauben, dass du reich wirst, wenn du investierst für passives Einkommen. Du wirst reich, wenn du in Realität investierst. Du wirst reich, wenn du diesen Geldfluss kaufst. Das ist eine Lüge.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
You have to have the money first. You have to have the money to invest in real estate. You have to have the money to buy the cash flow. So if we just make the numbers very round and simple. If I need $70,000 a year to live my life and I can get a 7% cash flow on my investments, I need to invest a million dollars to have that $70,000 a year to fund my lifestyle.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Jetzt wirst du sagen, wo in der Welt kriegst du eine Million Dollar? Du brauchst es nicht heute. Es kann über die Zeit passieren. Wenn Leute über Betreuungsplanung sprechen, denken sie über 45 Jahre. Wenn wir also über Geld sprechen, warum können wir nicht über den langen Termin sprechen? Es wird nicht in zwei Tagen passieren, aber es kann passieren, wenn du das Werk einmachst.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Also hostete ich ihre Partys jede Woche. Wir hosteten offizielle Shows und Nach-Partys und es wurde ziemlich groß. Und Als dieses Geschäft Geld verdienen begann, bemerkte ich erst einmal, dass ich keinen Beweis oder Degreis benötige, um Geld zu verdienen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Jetzt musst du diese Menge Geld ausgeben, um bestimmte Investitionen zu kaufen, die dir diesen Art von Geldfluss bezahlen können. Die zweite Sache ist, naja, was ist mit der Inflation, Jasprit? Du sprichst immer darüber, dass die Kaufkraft meiner Dollar runtergeht. 70.000 Dollar, wenn ich 65 Jahre alt bin, in ein paar Jahrzehnten, wird nicht die gleiche Kaufkraft wie heute haben. Du hast recht.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Aber hier ist die Sache. Wenn du dein Geld investierst in Dividenden-Pay-Stocks, die Stocks sind, die dich bezahlen, oder in starke Realität, sind das Inflation-adjustierte Investitionen. Was bedeutet, dass generell, sobald die Inflation passiert, die Rentenpreise erhöhen. Sobald die Inflation passiert, erhöhen sich auch die Stockwerte und die Dividenden.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und das ist, wo wir jetzt beginnen, das zu verstehen. Du wirst verstehen, wie stark das ist, weil es tatsächlich ein bisschen mehr extrem ist. Wir haben es wahrscheinlich gehört, über die Wachstumsgabe in Amerika und wie die Richen größer werden und die Bösen größer werden. Nun, der Grund, warum das passiert, ist, weil Investitionswerte schneller wachsen als Einkommen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und Inflation benötigt Investoren. Also siehst du, wie wir das alles zusammenbauen, weil Wachstum um Investitionen zu handeln ist. Die Art, wach zu werden, ist um Investitionen zu handeln. Unser ökonomisches System ist designt, Investoren zu benötigen. If we take a look at 2019 to 2024, over those five years, the median household income grew by around 18%.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
During those five years, the S&P 500, the stock market, has grown by almost 100%. Das bedeutet, dass die Werte für Investoren fast fünfmal schneller geworden sind als die Einkommen. Das ist der Grund, warum man keine Werte verdienen kann. Man kann keine Werte verdienen. Man muss seine Werte investieren. Und erinnere dich, Werte sind die Erhöhung.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und man könnte sagen, das ist nur wegen der Pandemie und allem, was nach der Pandemie passiert ist. Schauen wir in die Zeit zurück und schauen uns das etwas breiter an. Let's look at the five decades between 1971 and 2021. Over those five decades, household income increased by around 600%. Now mind you, that between 1971 and 2021, we also saw the number of workers in a household increase.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
In 1971, the average household had one person that went to work. The man went to work and the woman didn't. That's how life was in the early 1970s. In 2021, many households had two household incomes. So 1971 to 2021, the median household income grew by around 600%. Die S&P 500, die größten 500 Unternehmen im Stockmarkt, wuchs bei rund 4.000%. Also wiederum, die Inflation passiert.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich dachte, das war etwas, was ich benötige, weil ich dachte, dass ich diese guten Grads benötige, um für dieses Ding zu qualifizieren, um Geld zu verdienen. Das war also der erste Schock und Realisation. Der zweite Realisation, den ich hatte, war, dass ich nichts über Geld wusste. Ich war ein bisschen Geld verdient und ich war sehr glücklich, dass ich Bücher über Geld und Geschäft lesen begann.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Die Inflation hilft dem Investor. Wie wächst man reich? Man investiert sein Geld. Wenn man also retiren will, wenn man Geld bauen will, muss man Investor sein. Und man muss kalkulieren, welches das Geldnummer für sich ist. Für mich ist es so, dass ich es durch Cashflow mache. Die meisten meiner Investitionen, meine Real-Earn-Investitionen, bezahlen mir Cashflow.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Wenn ich ein Gebäude kaufe, kaufe ich es für den Cashflow. Die meisten meiner Stock-Markt-Investitionen sind Dividenden-Pay-Assets, das heißt, sie bezahlen mir Cashflow, Dividenden, nur um den Stock zu haben. Einige meiner Investitionen wachsen in Wert, sie sind wertvoller, sie sind wertvoller. Aber wenn ich über Retirement denke, für mich ist Cashflow mehr als meine Kosten.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Well, I think everybody in America needs to be a business owner. But the majority of people should not operate a business. When you invest in a stock, you become a business owner. You don't operate the business. If I go out and buy a share of Amazon, I'm not working in the company, I'm not operating the company, but I own some of it. Some people should start a business.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I'm a huge advocate for entrepreneurship for the right person. Who's the right person? I used to think everybody needs to become an entrepreneur. Because when I started to see success as an entrepreneur, I crossed that invisible barrier. I said, oh my God, people need to see this. You have to become an entrepreneur. You can do things on your own. And I was preaching this to my friends.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I got one friend of mine who was an engineer to quit his job and to then join me. He would come to my office and I would talk to him about things. And I said, you know, different ways you can do this. And I realized pretty quickly that Er soll kein Entrepreneur sein. Die Arbeitsethik war anders. Als er nach Hause ging, wollte er nicht arbeiten. Und das klickte nicht auf mich.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Was meinst du, wenn du nicht arbeiten willst nach fünf Uhr? Es gibt keinen Haltpunkt, wenn du ein Geschäft startest. Du musst anfangen. Die zweite Sache war, wie du über Risiken denkst. Wenn ich 100 Dollar investiere, wie schnell werde ich das Geld zurückgeben? Werde ich das Geld zurückgeben? Es wurden all diese kleinen Analysen. Before you've even done anything. You gotta start.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And then it's the innovation of what are you gonna do. It's asking for a blueprint. Tell me exactly what to do. Tell me exactly what to sell. Tell me exactly how to sell it. I don't know what you are good at. I don't know what problem you can solve. I don't know what innovation you can create. And this is where I go back to I am a big advocate for entrepreneurship for the right person.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Who is that right person? Somebody who has this entrepreneurial itch. That you have this, this, I need to create something. This, I can't work for somebody else feeling. This, I want to build something. It's a very much like, I don't care what it takes. I don't care what I have to do. This is what is my calling.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I started reading these books and the first thing I learned was the difference between an asset and a liability, which were things I had never heard of before. An asset is something that puts money in your pocket. A liability is something that takes money out of your pocket. Wealthy people want to own assets.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Oh, ja. Und ich werde noch eines auf dieser Liste hinzufügen. Das Willen, zu kritisieren. Oh, ja. Jede Geschäftsführung, die du startest, wird dir viele Leute verletzen. An jeder Phase der Geschäftsführung.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I was buying a whole lot of liabilities because I was working in this party promotion business and I wanted to look the part. So I would make a little bit of money, buy a nice watch, make a little bit more money, put some new rims on my car, put a new sound system in my car, put a new subwoofer in my car. I mean, I was blowing money on all these dumb things to look like I was rich.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
If we talk about building wealth through investing in money, the numbers have shown that over the last century, the stock market has gone up by an average of 10% a year, historically. But many people lose money when investing in stocks. I mean, if you go around talking to people, have you invested in stocks? Yes, yes, yes. How many have made money? The hands start dropping.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Well, if the stock market has gone up by around 10% a year on average every year for the last 100 years, why are so many people losing money? Because we start playing the wrong game. Und jetzt, was passiert? Wenn du dein Geld in den Stockmarkt investierst, und bei dem Stockmarkt meine ich, sagen wir mal, du kaufst die S&P 500, das ist ein Basket der 500 größten Firmen im Stockmarkt.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Zum Beispiel, nicht finanzielles Hinweis, wenn du in den SPY investierst, das ist ein ETF, das dir die Exposition zu den 500 größten Firmen gibt. Wir wissen, dass das historisch bei 10% pro Jahr erhöht ist. Aber das ist nicht genug für viele Leute. Also jetzt werde ich dieses Spiel spielen, ich werde versuchen, den Markt zu gewinnen. And some people will, most won't.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
So now some people are going to try to get into the game of investing in individual companies or maybe trading companies. Because even investing in individual companies, if you invest for the long enough period of time, you're probably going to win. But many people now want a quicker solution. So now we start trading. We start finding hot companies, the next Tesla, the next Amazon.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
We see what Reddit says. We see what Google says. And we start buying these things because we're excited. But that excitement is what's killing your wealth. Because you're investing on emotion instead of investing on financials. And so this is where you talk about what's boring. Just keep doing the market. Keep investing in the market.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
When in reality, I was just making a lot of other people rich. Und dann habe ich über das Thema Investieren gelernt. Das hat mich wirklich erschrocken, weil ich dachte, dass ich alles richtig mache. Und ich lese diese Bücher, die darüber sprechen, wie jede reiche Person in Realität investiert. Ich habe keine Ahnung, was das bedeutet. Niemand in meiner Familie ist Realitätsinvestor.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
When the market's up, when the market's down, when the market's sideways, just keep investing, because that has been proven to win. We know that if you invest $100 a month from the age of 21 until your retirement, 65, 66, and you can get that same 10% return, you're going to retire a millionaire. Assuming you only invest $100 a month from the age of 21 to 65 or 66,
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Screw up. Make mistakes. But along with that, start with what's free. YouTube Podcasts. Best book you've ever read? The first book, I'll start with that, because the best is, it changes. The first book I ever read, cover to cover, was Rich Dad, Poor Dad. The second book was Total Money Makeover. Rich Dad, Poor Dad is by Robert Kiyosaki. Total Money Makeover is by Dave Ramsey.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
The third book is a book called The Creature from Jekyll Island, which talks about the Federal Reserve Bank. Those three books are going to give you a foundation of Money and different perspectives of it. So start by learning for free. Even before books. Start by watching YouTube videos, start by listening to podcasts. Then you take the next step and you start reading books.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And what I talk about is if you go out and over the next 12 months you read five books on money management and investing. I just gave three. Read five books on personal development and self-development. Read five books on how to start a business. Read five books on leadership.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
und dann fünf Bücher lesen, wie man die Marke aufbauen, bauen und dein Geschäft erweitern kann, wirst du eine MBA-Level-Erkundung für einen Teil der Kruste haben. Beginn damit. Und dann geh raus und mach Fehler. Und als du wächst, kannst du anfangen, Klassen zu kaufen und andere Dinge, weil du Leute findest, von denen du konsultieren möchtest. Aber beginn damit.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Das Wichtigste, was wir noch nicht besprochen haben, ist, dass wir über das ökonomische System gesprochen haben. Wir haben über die Prinzipien gesprochen, aber ich glaube, wir sind noch nicht in den richtigen Schritten gekommen, wie man seine Werte versichern und schützen kann. Und wie man jetzt weiter Werteversorgungs-Tools benutzen kann.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Denn es gibt viel davon, dass jede reiche Person eine große Menge Zeit, Arbeit und Geld investiert. that most people have no idea even exist. We started to touch on taxes, but there's so much more.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Starting with first your accounting and taxes, then we get into the legal, your estate planning, what types of attorneys, what types of legal protection and shields and tools can you use to structure your business, your investments, to protect you, but also amplify your wealth. And then things like insurance...
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich hatte nie das Konzept von Realitätsinvestieren gehört. I don't know what it is, but if wealthy people are real estate investors and I want to become wealthy, maybe I should invest in real estate. So when I was 19, I'm now studying to get into medical school, because I still think that I'm going to become a doctor.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
We have a closing tradition on this podcast where the last guest leaves a question for the next guest, not knowing who they're leaving it for. And the question that's been left for you is...
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Oh, ich bin aufgeregt. Ich benutze keinen Alarm. Ich bin aufgeregt durch den Zweck. Ich bin aufgeregt durch die Mission. Ich liebe, was ich tue. Der Zweck, die Mission, das ist das, was mich jeden Morgen aufregt.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Weißt du, ich bin glücklich. Ich war so glücklich. Ich war immer einer dieser Menschen. Du könntest mich in eine Box schicken und ich hätte eine tolle Zeit. Ich würde die Box in ein Flugzeug schicken und dann würde ich es fliegen. Bevor ich hierher kam, hat meine Frau ein Video gedreht. Wir waren in einem Hotel und sie gab mir diese Türen mit Wasser. Diese zwei Türen mit Wasser.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Ich habe sie genommen und habe das Video gedreht. Ich bin auf den Balkon gegangen und habe ein Mock-Video mit Steve Austin gemacht, wo ich die Türen mit Wasser geöffnet habe und es auf mich selbst gedumpft habe. Ich weiß nicht warum. Und ich habe es meinen Cousins geschickt. I've been very blessed to... I can have a good time with anything. I'm a pretty light-hearted guy.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
I know I talk about serious stuff, but I've been very fortunate on that. I can have fun in a lot of situations. I'm not driven by materialistic things. There are certain things that I like. I will spend money on luxuries. My wife got me into nicer hotels and nicer travel and those conveniences I like. And I want to keep my wife happy, so whatever she likes.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
But I'm not driven by fancy cars, fancy clothes. That to me is not as important. I like to see... Und ich will Menschen helfen. Und das macht mich begeistert.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Nummer eins, meine Familie zu kümmern. Nummer zwei ist mein eigener Zweck und Mission, mich begeistert zu fühlen. Mein persönlicher Begeisterung. Nummer drei ist die Mission, um Menschen zu helfen. Nummer vier ist, Licht für die Gemeinschaft zu bringen. Nummer fünf ist, weiterhin zurückzugeben und Hilfe zu geben.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And I was bored out of my mind because I would spend all day, 10 to 12 hours a day in the library studying. And this was around 2011. And the reason why I say the year is because, if you remember, 2008 was the great financial crisis. That was when we had the real estate collapse in America. So real estate prices were decimated and they didn't hit rock bottom until 2012. That's why I'm saying this.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
So in 2011, I'm studying to take the medical college admission test, the MCAT. And I'm reading these books talking about how wealthy people invest in real estate. And now I'm making a little bit of money from this party business and I have a little bit of cash in the bank. So during my breaks, when I'm studying for the test, habe ich angefangen, auf Finanzen-Webseiten zu schauen.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
Und sie erzählen alle darüber, wie die Real-Ersatz-Rechte auf den Rücken geschlagen ist, wie Real-Ersatz-Rechte in Amerika zerstört wird. Und so habe ich gesagt, vielleicht muss ich anfangen, Real-Ersatz-Rechte zu kaufen. Und so am August 22. habe ich den Medical College Admission Test genommen. And then on August 23rd, I purchased my first real estate investment property.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
It was a small condo that I purchased out of foreclosure. A few years prior, it had sold for a little bit over $150,000. And then like many properties, it went through foreclosure. The banks couldn't sell it. And it was listed on sale for $8,400. That was the total price of the condo. So I came in with an offer of $4,000. Because I don't know how this real estate investing stuff works.
The Diary Of A CEO with Steven Bartlett
The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh
And we would bank it forth with the bank. The bank said, we'll sell it to you for $7,000. I tried to negotiate them even lower. And then the bank said that they had another offer on the table. So now it's a bidding war. And I had to offer my highest and best price. So I said, I'm willing to offer $8,000 to buy the condo. No more. And they accepted my bid. So I purchased this condo for $8,000.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
Well, before I give the advice, I want to explain to that person what's happening. Because you are the prime customer for our economic system. Banks love you because they can sell you payday loans, they can sell you credit cards, they can sell you lines of credit, and they can keep you in debt for the rest of your life, which means you keep making the bank rich.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
Corporations love you because you're not going to think twice when we show you this nice bag, when we show you this nice vacation. You're going to want the stuff, and so we love selling you the stuff. The government loves you because you're going to pay the highest taxes. Employees pay the highest taxes. And so when you're in that situation, you are making everybody else rich at your expense.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
And so if you want to break out of this, the first thing is you got to understand, you need to make yourself rich before you make everybody else rich. Because when you're spending all your money, you are putting your money into their pockets. And you have to stop that. You got to keep that money for yourself. You're in a boat. Think of it this way. You're in a boat.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
And this boat has water just flowing in. And you are sinking. And you got to start by sealing the holes. And that means you got to stop the spending. So if you are in what I call the financial danger zone, which is you don't have $2,000 saved up for an emergency and you have credit card debt. If you are in that situation, you are in the financial danger zone and you have to make drastic changes.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
That means right now, no more eating at restaurants, no more vacations. no more doing anything that doesn't put money in your pocket, and no more Netflix.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
And the reason why I say this isn't because you're going to save $15 a month. It's so you can save two hours of your time a day. The average American is watching more than two hours of television a day. And if you don't have $2,000 saved up, if you have credit card debt, you cannot afford those two hours a day being wasted on TV.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
And that means right now, you have to go out and start using the time to learn, start using the time to work, and start using the time to make some extra dollars. So what do you do? Start selling stuff. Stop spending money. Selling stuff you own. Selling stuff you own. So if you have a TV that you're not using, sell it. You have a car that you can't afford, sell it.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
If you're living in a house that you can't afford, sell it. Downgrade. Move smaller. And then work to earn more money.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
So what do I do? This is why every Indian parents tell their kids to become a doctor so their son can get married. It's the same concept. But here's the thing. You have to pick it hard. Either life's going to be hard now or it's going to be hard for the rest of your life. And you have to pick what's more important to you right now.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
And, you know, if we talk about balance, if you want to have a balance of everything, where you want to find a girl, and you want to make money, and you want to stay healthy, you are dividing your attention everywhere. I'm not saying it's impossible, but very few people can actually do everything all at once.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
And if your number one goal is to become wealthy, if your number one goal is to turn your finances around, you have to get serious about it. Because Where you put your attention is where you get the results. And so if you want to be in a better financial situation, you are going to have to make sacrifices. And it's difficult.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
I can't come here and tell you it's going to be easy because that's going to be me lying to you.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
Yeah, and you know, I also wanna say that when I talk about building wealth, I'm not talking about becoming a money hungry, just money greedy, this is evil person that just cares about money. That's not what I'm talking about because I want you to live a holistic life because money is just one part of your life. But the second part to that, Yes, I'm not telling you to never enjoy life.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
I'm telling you to make a sacrifice for a period of your life. That way you can enjoy the rest of your life and never have to worry about money again.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
It's difficult. And that sacrifice is difficult, especially during a time where everybody's showing off everything on Instagram. You look at your friends who have a crappy job, but they're driving around in nicer cars, going on better vacations, going to the nicer restaurants. And you're thinking, what did I do wrong?
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
And then, especially if you're a guy, you have a girlfriend, you have a wife, she's going to say, how come they keep getting to go to Cancun? They keep going to these nice restaurants. How come you can't take me to these nice places? And now you feel like you're doing something wrong because where is this discrepancy?
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
The reason why I call my show The Minority Mindset is because I'm a big advocate of not doing what the majority of people do. The first time I made a million dollars in a year, I was in my 20s. I was driving a car worth $500. It didn't have a bumper on it. It was not pretty. My wife sat in the car with me. And my employees drove better cars than I did. So, you know, you got to be confident.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
And you got to work for something bigger. And you want a partner that's going to understand that. That's my belief. which is not the easy thing.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
And that is the reason why so many people will go into debt to buy vacations, to buy things, to buy stuff, to look rich. And ironically, that's the thing that keeps so many people poor for the rest of their life is because they're scared to look broke. And now when you try to look rich, that's the thing that's actually keeping you broke.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
During that time, you are making emotional decisions.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
As many people are. And it's very difficult to speak logic to emotion. But this is where now you have to be able to understand the difference. Because if you're listening to this and you're in that situation... You have to understand if you want to continue being able to live that lifestyle, you're going to have to make some changes today.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
Otherwise, you're going to be stuck in this lifestyle for the rest of your life. And it's only going to get more difficult. And that's the thing, is if you want to become wealthy, the first part is just your own mindset. It's your own discipline. And until you can conquer that, I can tell you everything about investing. I can tell you different ETFs and index funds to invest in.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
I can tell you different investment institutions out there. I can tell you which stock brokerages to use. I can tell you just invest 15% of your income into this for the next 10, 20, 30 years, and you're going to become wealthy. But until you can get over that mindset, you're never going to become wealthy.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
Because then what happens in that situation is when you're in that state of, I just want to look rich. I just want to have the dopamine. I just want to have some nice things because I deserve it. I work hard. You know what happens next? You are the one that gets caught up in all the get rich quick schemes. Because someone's going to say, look,
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
Put $1,000 into this, you'll have $10,000 in the next three months. Or I'm gonna show you you can live the laptop lifestyle. You can work five hours a week, make $10,000 a month, $10,000 a week. You're never gonna have to worry about money again. Just buy this program. And now you're a prime candidate because now you were driven by this emotion of, I want that.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
I can't imagine if I had an extra $10,000 a month and I don't even have to work for it because you can't see past it. All you're doing is being sold by emotion. And so you're the one that's going to get caught up in the get-rich-quick schemes. You're the one that's going to make the bank rich because you're going to stay stuck in debt.
The Diary Of A CEO with Steven Bartlett
The Top 7 Money Making Hacks For 2025 That Are PROVEN To Work! Do Not Buy A House! Do This Instead!
Corporations are going to love you because they can keep selling you the nicest and newest stuff because you want to look rich. You want to show it off to your friends. You want to show it off to the girls. And you get stuck in that cycle.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
You'll never build wealth. You'll never get rich. You'll never have any freedom. And so you can't spend all of your money. Which is why number three is you take the money you don't spend and you go out and you buy an investment. We'll call it the middleman. And you'll see why I call it the middleman.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
Is you want to take this money you don't spend and you want to essentially throw it into this thing on the side that will hopefully make you some more money in the long term. Mm-hmm. Then number four, when your investment makes money, take the money that your investments make and dump it back into your investments. And then number five is where to make more money.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
And the reason why we're going to make more money is so you can have more investments. Now, let me explain why this is so difficult because it makes sense in theory, right? You're never going to become wealthy if every time you make a dollar, you give it to somebody else. If you want to become wealthy, you have to keep more money for yourself.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
The way that our economic system works is the more money you spend, the richer somebody else gets. It's, you know, hate it or love it, that's the reality. When you go to Chipotle and you buy that extra guac, Chipotle is making more money. When you go to Amazon and you spend more money, Amazon's making money.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
Now this can make some people extremely wealthy, but it also keeps the majority of people broke financially. And so this is where if you want to make yourself rich, you got to stop making everybody else rich right now. You got to first make yourself rich. And that means stop giving other people your money. And there are so many extremes to how you can do this, right?
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
I mean, you could go to that one extreme where I am not going to spend anything. I'm going to live in a shoebox and I'm going to eat nothing but rice and beans and I'm going to stack all my money. Fine. other people will find a more balanced approach. And you got to find what's right for you. Yeah, yeah.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
And you got to find your balance. For me, I was on an extreme. When I first learned about this, I went extreme because when I was making money first, I was running an event planning company. I didn't know anything about money. I took my money and I bought nice watches and I dumped it back into my car. I mean, that's what I thought was normal.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
But as you start to learn, you realize, or if you start to become more financially educated, you realize that that doesn't do anything for your wealth, right? There's no wealth built into tricking out your car. There's no wealth built into just spending money on nice things.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
It looks nice and it's nice if you want to have it, it's fine, but that's not going to make you wealthy and you got to decide what's more important to you. So then I completely tipped the scale. And I started not spending any money so I'd have more money to invest. For me, it started off in real estate. And now it's this slow process.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
The reason why it's so difficult is because if you make $10,000, it's a lot of money to put aside, right? I worked to make 10 grand. But you can't show off a $10,000 stock market portfolio the way you can a $10,000 watch or a $10,000 vacation. Because I can take those things and I can put it on my Instagram. I can put it on my Facebook. I can put it on TikTok. And I can show these things off.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
And they get a lot of likes and they get a lot of oohs and ahhs. But my stock market portfolio just sits there. Slowly, it'll start to generate a little bit of income. And I think understanding you're going to make a lot of money in your lifetime. I don't care how much money you're making. If you make 50 grand a year, in the next 10 years, you're going to make half a million dollars.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
In the next two decades, you're going to make a million dollars, assuming you never get another raise. Which means you're going to make millions of dollars over the course of your career and most people will have nothing to show for it. And when I say most people, I don't say this generally. I mean, statistically, most people will have nothing to show for it.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
Which means now, as you go through life earning this money, what are you doing it for? Are you doing it to look rich or are you doing it to actually build wealth? And you got to decide that for you, right? I can't come here and tell you, oh, it's important for you to build wealth. And then you listen to me.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
You got to decide that for yourself because you want to take better care of yourself, your wife, your husband, and your kids and your parents. And you want to have a better future than today.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
I think you got to start with this understanding. If somebody doesn't have what it is that you want, you probably shouldn't listen to them on how to get where you want to go. And your parents might have the best intentions. Your family might have the best intentions, but they might not know how to get to where you want to go. The common saying is don't listen to a fat person on how to lose weight.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
Take that for whatever it's worth.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
you're going to say that the best way to do that is go and become a doctor. That's why you see so many Indian people become doctors. It's because your parents beat it into you since the day you're one.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
I'm speaking from 100% experience here because since I was young, my parents said that I need to go and become a doctor because if you become a doctor, you're going to number one, have that doctor title. So you're going to have the status. Someone's going to want to marry you and you're going to be able to make a lot of money and be rich.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
But what I learned was there's a disconnect between being a doctor and being financially wealthy. Those are two different things because we assume that if you go to school, get good grades, you make more money and you become more wealthy. But there's also a difference between making more money and building wealth. What's the difference between making money and building wealth?
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
Well, some people who have made millions and millions of dollars died with nothing in their name, died being broke and lived broke. Building wealth is really a matter of time and freedom. And what I mean by that is I can make a million dollars a year and be broke, which a lot of people actually are.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
We're out here not far from Beverly Hills and a lot of people are making a lot of money but are broke. And I see this all the time because I work in this financial education space where I have met...
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
countless doctors, because I talk about this a lot, people who are making three, four, five, $600,000 a year that have no savings, no investments, and no idea where to start because when you start to make more money, you first think, if I had an additional $100,000 a year, oh my God, I could do so many things. Because we think in terms of spending. If I had $10,000 a month, what would I do?
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
Well, I would first go to Cancun. I'd buy myself a nicer car. I'd go on a nicer, you know, whatever. We consume. We consume. That's how we think. We're conditioned to think that way, that America is a consumer nation. We are the largest consumers of things in the world. I like to say that Americans make a dollar to spend $2.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
Traditional Indian mindset people make a dollar to spend 20 cents because they're conditioned to save. Not saying either one of these is right. They're both wrong, but- When most people are conditioned to consume and spend, you make more and you spend more. And you might think, well, how can you spend a million dollars a year? It's very easy. It is very easy to spend a million dollars a year.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
You start buying some nice homes. You start going on some expensive vacations. You start buying some expensive clothes. And there goes your million dollars a year. Gone. And that's what happens to a lot of people. So we talk about the difference between building wealth and making a lot of money. You got to take the money that you earn and not spend it. And you got to put this to work.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
And so let me break this down this way. Becoming wealthy comes down to five steps. And I've talked about it in many different forms, but I'm going to break down into the simplest root thing you have to understand. Number one is you got to earn money. And if people say, how do I earn money? It doesn't matter. It could be a side hustle. It could be a business. It could be a job.
The School of Greatness
4 Money Mindset Secrets to ATTRACTING Wealth & Abundance
You could have some money coming in. Once you make some money, number two is you don't spend all of your money. And that means when you make $1,000, you don't spend all $1,000. How much do you spend? Let's not worry about the nitty gritty yet. Just don't spend all of your money.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And it really goes back to what you were just saying, which is a mindset shift. Because everyone says, oh, it's going to suck living smaller. It's going to suck doing this. Well, it doesn't have to. I'm sure when you were starting your business, you were working hard, but you were probably having the time of your life. Yeah, it was a thrill. I mean, there's ups and downs.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
There's ups and downs, but when I was first getting started, when I started my party promotion business, I knew nothing about anything. I was a naive 17-year-old kid. I mean, I was really financially dumb. But I knew I wanted to start building some income and start doing more things with my money. And I had two other guy friends that were doing this with me.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
There's a lot to unpack there. So I think the first thing is understanding now how money plays a part in your life. And I know we've talked about this before, but I really think the key here is understanding that number one, money is important and understanding your personal relationship with money. And what I like to define that is there's a few things that you have to understand.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
They were kind of like partners that we worked hard with. And we were working around the clock, but we were having the time of our lives. It was tough. I mean, we were working hard, but we were having so much fun. We were laughing so much because we were... Just having fun. And it's really like- It can be exciting too, all this new adventure. Yeah. And it's really that mind, again, mindset.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
It's a cultural shift too. When you grow up in a country like America where resources are plentiful, it's hard to sometimes see them because in other countries, they're not always there. And unfortunately, a lot of people don't realize that when you're in a country like America, if you can understand the words that I'm saying, You have the opportunities to build wealth.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
You have the opportunities to do whatever you want, where you might not get those opportunities in other parts of the world. And when you have so much, we'll call it privilege, of being able to speak English, of being able to be in a first world country, you start to then create victimizations of yourself and you start to create these like, it's difficult for me because of X, Y, and Z.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
versus other parts of the world, you might not have that privilege. Again, I make a lot of mistakes, so I would definitely not want to put myself as a perfect person or anything even close. I make a lot of mistakes in every which way, but I think the goal is always just to try to be a little bit better every day. You can improve no matter where you are.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Number one is that it is my duty to become wealthy. Number two, money is a tool. Number three, money is abundant. And number four is I will become wealthy.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
I think all of us, myself included, especially, have a lot to improve. There is opportunity and availability for you to go out and live a life financially of more freedom. But that requires you to, number one, breathe, understand it's possible, take action, and even when things get tough, you keep going. And beyond that, Right. You got to make those financial sacrifices.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
That way you can do more of the financial things, travel, spend money, and not have to worry about the price because now you have the money, right? The goal is not to ever enjoy the nice things. It's to be able to afford the nice things without having to worry about the price because you've put in the work and now you earned it.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Sure. Number one is it is my duty to become wealthy. Yes. Number two is that money is abundant. Number three is that money is a tool. And number four is that I will become wealthy. And the reason why I say this is because you really have to understand that you can do it. Now, there's a difference between what I'm talking right now and thinking and growing rich.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Because if we kind of now dissect this, everybody wants this outcome. And the outcome is, I want financial freedom. I want to be rich. I want to be wealthy. I want cash flow. You can use whatever term you want for that outcome. Maybe you want some sort of financial freedom. In order to receive this outcome, you have to go back a little bit. Which means I have to take certain actions.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
I have to do things with my money. I have to do things to achieve this outcome. But let's go back even more. How do you get that action to happen? I have to have a thought to go out and do something with my money. I have to think I need to invest. I have to think that I can become wealthy. And this is where most people think that you have to start. Think and grow rich.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
If I think rich, I can take the right actions and have the right outcome. But that's a lie. Because what you'll realize, many of us have this, is In the back of our minds, you might have this little voice saying, I know this is not true. So you can sit there and say, I'm gonna grow rich and try to manifest this wealth. I'm gonna grow rich. I'm gonna become wealthy. Money's gonna fall into my laps.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
But it won't happen if that voice in the back of your mind is saying, I know I'm just doing this so I can have this outcome. I don't know if it's true. Somebody like me can't become wealthy. Somebody that looks like me can't actually do it. Somebody from my background, somebody with my upbringing, somebody with whatever circumstances I have can't do it.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And when you have that back of that mind thought, it doesn't matter what you're thinking. You're trying to just, you're trying to outspeak your mind, right? It doesn't work like that.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Right. And that's where we need to go one step back. We talked about we want this outcome. You need to take an action to have that outcome. You need to have a thought to have that action. But what's before the thought? I call this your subconscious or your pre-thought, where this is now really getting into your true beliefs, not just your thought, your true subconscious beliefs.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And that's what you have to work on first. That way you can actually think the right thing so you can have the right outcomes. Because what ends up happening, if you're just thinking this with the frontal part of your mind, and I don't know which part of your brain does this, I'm just saying this.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
If you're just thinking this, but you really know deep down that money is evil, money is bad, I can't become wealthy, you're never going to actually achieve the outcome that you want, which is why you have to start with really that deep understanding of your relationship with money and why you have that. Because the real reason why generation or poverty is generational
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
is it because of the circumstances that you're dealt with externally it's because you grow up being told we can't have this we can't afford nice things we don't have money for this we're not rich like them rich people are evil when you grow up hearing this You grow up living life thinking this is true. Believing it. You believe it. And why wouldn't you? That's what you were told.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Everybody around you said that. People in your school probably said the same thing. You live this life thinking that money is limited. It is taboo. It is bad. And we can't have nice things because we're not rich. Okay, no big deal. That's what's normal. Now, you grow older. You get a job. Maybe you're making some decent money. But you're going to have the same money beliefs.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And then maybe you start having kids. I know your kids want to have the nice PS4, 5, 6, whatever we're on. And what do you say? Oh, we can't afford that. We can't afford the nice things. We don't have money for that. That's for rich people. We're not rich. It's now that starts to get passed down.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And this is where now the first step, but we've talked about this many times, the first step to building wealth is to start with the money mindset, the beliefs that you have around money and understand, number one, that you can become wealthy. Not just that you can become wealthy, you will become wealthy. And that money is abundant. There's a lot of money in the world.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
When people start to enter this financial education space, We start to assume that if you're rich, I can't be rich. If you have money, I can't have money. So it starts to create that jealousy or just this negative association with, oh my God, I don't want to tell you my business idea because what if you steal it and take my money?
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Well, both of us can have money because there's a lot of money in the world. If you look at it from a financial perspective, the Federal Reserve Bank is printing trillions and trillions of dollars. There's a lot of money out there. You just need a small sliver of it and you can have millions and live a life of true financial freedom. And not just that, understanding that money is a tool.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Because the reason why we put these smoke screens around money, that money's bad, it's taboo, it's evil, is because many times people are insecure about their own money. And so when I... I can't go out and buy the nice vacation for my kids. I can't buy my husband that thing that he wants. I can't buy my wife that YSL or Gucci purse that she wants. I can't go on the nice vacations.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Well, you know, money is bad. We shouldn't stress about money. It's these stupid vacations. We don't need those. We can enjoy our time here. It's such a scam to go out there and sit on an all-inclusive beach and have food delivered to you. We start to create these smoke screens where, oh, why would anybody want to have an expensive car like that?
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Why would anybody want to have these nice and expensive things?
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Yeah. And so now it's, you know what? If you don't want it, that's completely fine, but make sure you can afford it. And understanding now, money is not gonna make you a good person. It's also not gonna make you a bad person. It's just a piece of paper. It's fuel. It amplifies who you are. When you have more of that money, you can do more of the things that money can buy.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
One of those things is have freedom. have options, options to choose what you want to buy, options to choose where you want to eat, options to choose when you want to go on vacation, not just can you go on vacation, and options to choose how you want to live your life.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And not just that, unfortunately or fortunately, depending on how you look at it, it also can influence what type of healthcare you can get, what type of healthcare your parents can get, what type of healthcare your kids can get, what type of college your kids can go to, what type of education your kids can go to. It matters.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And so now at the end of the day, you can hate it or you can understand it. And so we create these smoke screens without really understanding how money plays a part in our life. Because at the end of the day, money talks. And the people who have money will get to be able to live their freedom. And the people who don't, you become subservient to the people who have money.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And I don't say that to be mean. I say this to be factual. They're facts.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Right? The rich get richer, the poor get poorer, and the middle class has been shrinking because most people don't understand money. They don't know how to use their money. They don't understand what inflation is. They don't understand how the system works. The system is designed to produce inflation. And you're going to say, well, how do you know that? The Federal Reserve Bank says this.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
They publish this all the time. They say that we want a 2% inflation target. Why? Why not 1%? But why not 0%? Why do we want inflation in the first place? Because that's the way our economic system works. Our economic system runs on spending. And inflation increases the monetary supply. It increases the monetary dollars out there. That means the government has more money to spend.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
If the government has more money to spend, they can continue spending money and giving people jobs, right? If they go out and give a contract to greatness so you can produce some content, well, you can go out and hire some people to go out and do things. But the question is, how are they paying for that?
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Because if I'm paying you to do that, I have to make a profit or I have to generate revenue from my business, right? To go out and write you this check.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
government can just levy a tax or they can just get the money printed which is a whole lot easier and so then one of these things can create more inflation in that sense and that's why again our system is this way we talk about why is financial education so important because it is designed to benefit the financially educated it's designed to benefit investors
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And anybody can be an investor, but we're never taught to be investors. We're taught to go to school to get a job and spend our money. We're never taught what to do with that money. We're never taught to start a business. And we're never taught how to take this money that we're earning and convert it into wealth. We're taught to turn this money into cars and clothes. Flashy things. And vacations.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Our economic system. is designed to keep people poor. The government continues to spend money, which creates inflation, which keeps people poor. And this is where now in order for you to break out of that system, you have to number one, learn the system. Number two, believe you can do it. Number three, do something about it.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And do something about it means you got to stop spending all that money, which is uncomfortable, right? Because we want to have the nice things. But I'm not saying don't ever have a nice thing again. Don't ever go to Starbucks or go to Gucci. No, what I'm saying is go through the decade of sacrifice. of spending less, earning more.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
It's tough financially, but that's going to give you some more money. Now, when you take this money, you're going to start investing it. You're going to be very disappointed in the first couple of years because you see no returns. You don't see anything happening, but you got to stick with it. And you keep doing it. You built your financial education, learn more about how to invest.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
You start studying the financial trends. You keep building the financial preparedness. Maybe you see a market downturn. It creates more opportunities for you to invest, but you just stick with it. then what's going to end up happening, you go through the decade of sacrifice, is now you turn around and you don't recognize the person that you were 10 years ago.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
You won't even recognize yourself three years ago, but this is where now you will start to build this real wealth fund for yourself. And now you can start spending more money, but it's not necessarily coming out of your paycheck. You can start having nice things. You don't have to worry about the price because the money is being funded by your investments.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
And that's why now understanding the system is designed to keep the majority of people broke. And the reason why is because they want you to spend all of your money. And they want you to spend money you don't have because that means you get to spend more money, right? If I make 50 grand a year, I only have $50,000 worth of buying power, you would think. But no, you have more because of credit.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
We live in a credit-based economy. So if I can only spend $50,000, I can only stimulate the economy by $50,000. And that's where this clever financial strategizing came in and said, well, how do we get somebody making $50,000 a year to stimulate the economy by $80,000 a year. Credit cards, lines of credit, other forms of debt. That way now, what is debt?
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
You're taking next year's income, spending it today, and then you pay it back next year plus interest. So now you constantly, you're working just to make everybody else rich. You're working to make your bank rich. You're working to make Gucci rich. You're working to make everybody else rich except yourself. And this is where, that's what the system is designed to do.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
But if you want to build wealth, You got to, number one, learn and stop spending a lot of money. Who should be most afraid?
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
Well, I think it's everybody. I wouldn't say one over the other. It depends on the percentage of money you're keeping for yourself versus spending. Because if you make a million dollars a year and you're spending 110% of your money a year, but you're making 50 versus somebody else is making 50 grand, I'm living off of 75,000.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
I'm more worried about the million dollar a year person because you are one bad step away from bankruptcy versus if you're making 50 grand a year, but you're smart with your money, which I've met a lot of people doing that. you're ready for whatever happens. And you said, bring it on because I'm going to find the opportunity. It's a very different mindset.
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
You know, the first... My wife grew up with... a very tough financial upbringing. And when we got married, she always expressed that she would want to... She'd always wanted a designer purse or some other things like that. And so she went out and I wanted to make sure she had whatever she wanted. So she got the designer purses and all that nice stuff. And then pretty quickly, she realizes, okay...
The School of Greatness
5 Money Beliefs To Rewire Your Mind For Wealth
This doesn't really give me much fulfillment. Now what? Now what? I can buy my purses, but it doesn't. The attraction to these things are the highest when you can't afford them. When you can comfortably afford it. You no longer really crave that stuff. Now you realize, well, what's something bigger? What's going to really give me that fulfillment? What is going to give me those memories?