You Are Trained To Be POOR - Don't Do These 10 Things
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- Опубликовано: 28 сен 2024
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What Is The Minority Mindset?
"The Minority Mindset has nothing to do with the way you look. It's the mindset of thinking differently than the majority of people" ~Jaspreet Singh
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Video host: Jaspreet Singh
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DISCLAIMER CONT'D: I'm just a random guy on RUclips so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
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Do you have this in Spanish? My co workers only speak Spanish. And I want to share this with them.
Health care providers priceless necessities of must have a dependable auto of self independence security of best trusted experts ❤68yo 🤱
A+ teachings JASPREE SINGH hope of so many stressed2max making smartest dollar abilities of doing a lot with a little Thanks smart teachings MINORITY MINDSET MAGNIFICENCE ENERGIESF5 CONTAGIOUS SURGICALOVEDOCHALKIN D.O PASSIONS ENCOMPASSING GENERATIONAL SUSTAINABILITY ❤PEOPLE PRIORITY LORD'S LONGSHOTS 🦅
Do you want us to report them?
Then why the fuck are you putting this content knowing you are a target
At 70 years old I have tip to pass on regarding debt. Whatever you are thinking of buying or signing up for ask yourself this question - Do I really need it - give it the overnight test or longer. I guarantee in most cases you'll forget all about it and be richer for it.
Yup. Needs vs wants
That trick has really knocked down our families unnecessary spending.
It's what i always do! Even before a medium to small purchase
Exactly
Wise words.
Never too late. I walked away from a 6-figure job in 2017 to do the same thing as an independent contractor at 48 years old. It was the best decisions I made in my life.
Inspirational indeed, l am looking to leave the corporate world and work for myself.
How do you afford health insurance?
@@newhampshirelifestyle4233 . I am in good health and never go to a doctor, so not a big deal. I also don't take any prescription medication.
That is the first thing I tell people though when they ask me about working for yourself. If you frequently make use of your employer provided health insurance you may not want to do that. That is another way they keep you trapped. Since I live in San Diego, I go to Tijuana for my dental and medical needs and pay cash. Doctors and dentists are much more affordable in Mexico.
I am not extremely health conscious, but I do watch what I eat and try to avoid the really bad stuff (like fast food, high fructose corn syrup, etc.). Very difficult to do in the USA, and I also travel a lot. I believe all pharmaceuticals are poison, so I don't take any. So, basically, I take charge of my own health, rather than to rely on a drug dealer (doctor) to prescribe me a bunch of toxic big pharma products that just make me sick. I don't know anyone who is in good health on account of consuming a bunch of pills. But I'm getting off on a tangent...
Obamacare is an option if your income is not extremely high. The premiums are based on your income. I have no idea how good it is. Again, I prefer to address my medical needs outside of the USA.
You lost your corporate job and became a doordash driver?
@@Pray4Mojo1 No doing the same thing as before, but as a contractor instead of an employee
My car is a asset. It gets me to work and let’s me travel on day trips so I can enjoy my life.
If you ever listen to anything while reading comments, let it be this - go to borlest and read the book whispers of manifestation, then come back and thank me
BS bot lol
@@SAY1MY1NAME1that’s you
Bottled ass comment
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂 bs
@@SAY1MY1NAME1lol
A man who is clear of mind. Bravo! I'm glad to see someone is thinking straight.
Debt is a slave to the master
Technically you are the slave when you are in debt. Debt is the tool that makes you someone’s slave. But I know what you mean.
He meant the borrower is slave to the lender
Depends who is more powerful 😂
It also says in the Bible, book of proverbs
So Debtor or Borrower you mean.
SIR, You should be teaching this in HIgh School, you need to teach people before they get in to debt. But thanks for putting this out there, the smart people will find it.
20:57 I totally agree with that statement. When people get more money, they buy things to show it off as status symbols.
I remember this one episode on Divorce Court where, at the time, Lynn Toler, she said that some of the lines of "Don't wear your money. Don't advertise how rich you are." Can't remember what episode it was, but I took that to heart. No one needs to know how wealthy you are. Once people find out, their true character may come out.
Yes, and you find out who your real friends are.
IF YOU OWN A TOYOTA, 1:18 DOES NOT APPLY TO YOU 😂
If you buy a new or second hand Honda, you have a car for life...
Toyota trucks hold value. I actually made money on it
Same here, I made money when I sold my Toyota Corolla
Amen
Trucks have values! I was searching for used trucks and they were either of high mileage or very old. And….they were not cheap. I ended up buying a new Ridgeline. Cost money, yikes, but still worth it if one day I decide to sell it as a used one.
That’s because older trucks are the only ones with beds big enough to actually fit stuff in.
It’s better than any F150 but not better than a Silverado or Sierra. A Tacoma is average but not valuable. 😂
You honestly look and sound like the most trustworthy financial advisor on RUclips. Thank you for reminding me that I live in the land of opportunity and I need the drive to get ahead!
Thank you so much for the great advice!!
You are so smart!!
I'm very disabled and can't walk anymore.
I'm INCREDIBLY FRUGAL.
Doesn't bother me a bit.
I love living alone.
Love your channel and common sense. 👍🏼❤️
I love your attitude! 🦋
I've been around toxic family my whole life, no money, no job, let my parents continue to control me, put my self down and compare myself to others!
Needing major help to help change my life!
My total amount of car purchase and maintenance in the past 20 years: 25k USD (14k total for initial purchase of every car).
Switched to chase Sapphire Reserve CC with $550 annual fee. Got $300 USD back from buying groceries. Have access to free food at the lounges at the airport from work and personal travels.
No debt, rent at my relatives, >1m nw. Currently working on migrating from the US to Singapore for more opportunities and better and healthier food.
Jaspreet, I have to say its really interesting to hear you address attitudes of mental health and spiritual well being stuff !
They also have these buy now pay later with no interest schemes. Untill you are a day too late. That’s when the very high interest fees kick in.
People always think they can pay it off until they don’t or simply forget
We owe 34 trillion now and our budget is not even enough to pay the interest.
Sometimes you have an emergency and need to buy something like a hot water heater, HVAC system, or sewer issue. These are all expensive items!
I have five credit cards with $64k credit limit. I am planning to max everything and not pay them. I am 79 years old and have free place to stay. I live off social security with good health.
Why max credit cards
Because he is old and they won't be able to collect from him in the grave.
So you don't have anyone living with you? Once you are gone they will take it all and they will be left with nothing
@@mac1bc not necessarily.. credit card debt is one of the hardest to collect on from a living person let alone a dead person.. trust me I've worked the profession for years.
Not a great idea. They will attach everything you have even when you die. Additionally YOUR action will be passed down to the rest of us to pay for! Thanks for being so selfìsh....
We need to make social security optional, and id opt out. Fuck the government.
And invest the money you would hand to the government instead!
DISCLAIMER, NOT FINANCIAL ADVICE!
If you really want to say “fuck the government”, then either skip filing your taxes, or file as unemployed.
DISCLAIMER, THIS IS NOT FINANCIAL ADVICE; DO NOT TAKE THIS SERIOUSLY!
Worst idea
Aha fuck old people 😂
I love how you simplify logic.
All you said is correct but the main factor to make this happen is your should be smart and have a good plan. You may commit mistakes but learn from your mistakes so it will not happen again. It also depends on how much would be your future needs so you will not do an overdrive especially if you don't have anybody to transfer your wealth. Your last message is about health and spirituality which is seldom mentioned by any investment blogger but is an important part of life.
Whenever I came across your videos and read The Millionaire Fast Lane, I got mad due to the fact that neither school or my parents taught me any of this. Thank you for opening my eyes a few months ago 🙏🏼
Its not only cars that are expensive its the fuel we buy to power it, stuffs super expensive. Here in nz, petrol is $3 per litre. 😬
Work the system because the system is working you..🤔
Exactly!
If you pay off your CC balance on or before the due date, there's no interest charges.
This is a great message! People need to always be in the mindset of accumulating assets and wealth. My favourite thing to buy is another share of an S&P index fund.
Social Security will run out in the 2030s partly due to population growth.
Love you Jaspret but there's a whole lot of "if's" tied to a 25% ROI on a $6500 investment. I get your point but it sends an over inflated message.
I want to thank you for the school workbooks, I've been using them with my daughter and they're very helpful...this system is designed to make us indebted...thanks to people like you she will be setup to have a good life!
Workbooks?
Do not follow the crowd. Stop doing what everyone else is doing or encouraging you to do. Listen to your heart when it comes to your unique goals.
I havent paid interest on my credits in two years. I always pay them off at end of the month.
I did these things for years😢But not anymore
I'm glad I clicked on this video. This is such an eye opener. I watched Robert Kyosaki's videos before and I just didn't understand what he was saying. This to me is a simplified version of what he was saying and what he actually meant about cash flow.
I needed this. As a 27 year old this is gonna be a new challenge but I know I can do this.
This guy is great!!
Your advice is spot on. The part you skip is how do you initially get started. When you're young and have no money. How do you build from the ground up. I started with nothing and I still have most of it left. How do I break the cycle?
Thank you, Jaspreet. May I add something. Here's something to think about if you're a gamer with a PC considering a PlayStation:
PC gaming offers the flexibility of both gamepad and keyboard/mouse (especially for FPS). PC games are way cheaper, customizable with mods, and can handle maxed-out graphics. With fewer great PS exclusives these days and a vast library of PC games often available for next to nothing, why even need a console? I've decided to stick with my PC and am reinstalling my Steam, Epic, and GOG accounts. The only regret is the money I spent on PlayStation games
Jaspreet… I don’t understand why you say that: “If you live in a country like the US, you have the ability to make money and be financially independent”. Jaspreet, the economy is in shambles. How is a person supposed to become financially free here in the US? You need an exorbitant amount of money to live of your dividends alone using an index fund. You need at least a million dollars. What are you talking about? There is no opportunity anymore out here, if you don’t have access to millions of dollars, it is over!
Why keep praising the US saying that its easy to make money here and that there’s opportunity here? There is no such thing unless you have a big amount of capital. Do you know something we don’t? Because I don’t believe that there is any opportunity left here in the US.
Again, the only way to become rich here is if you have at least a million dollars to put in an index fund or if you have an extremely profitable business. These are things the average person doesn’t have and many of us weren’t born with a golden spoon in our mouth. So tell me what opportunities are you talking about? Because I don’t see them, and many of us here don’t either.
This whole thing you wrote is what will keep you exactly where you are, just know that. Instead of trying to figure out a way to get free you decided spew paragraphs of complaints. You don’t need a lot of money to grow wealth, start educating yourself more and be more optimistic about your life.
Your MINDSET is what’s holding you back.
@@GaiijinNimbus Well if you can answer me that that means you have a “different mindset” right? So let me ask you this.. are you rich? If you’re not-please be silent.
@@GaiijinNimbus I bet you’re a regular person trying to make it day by day with nothing in your bank account. So please don’t give me the answer of a Neanderthal.
@@GaiijinNimbus If you’re not rich you have not right to give advice. That means you just want to aggrandize yourself here in a social board. I bet you’re some poor schmuck trying to see where his next meal will come from. But you want to be a smart ass here in this board. When you show proof that you’re rich, then you can talk, otherwise just keep quiet.
All great advice, I've been doing most of these things for years. The only debt I have is my mortgage. Many years ago I was almost on the verge of bankruptcy and swore that I'd never allow myself to be in that situation again.
Those that understand compound interest earn it. Those that don't pay it......One of the best quotes I ever heard
We need more people like you , thank you brother
Please explain investment strategies more, i struggle to understand this topic ❤️❤️❤️
Very well done. I learned a lot from this. Thank you!
SOCIAL SECURITY DOESN'T RUN OUT OF MONEY BECAUSE IT'S PAID OUT OF THE GENERAL FUND
Quick thing on cars for young guys , buy a youngtimer/oldtimer that is reliable enough as a daily driver- its cheap in taxes or no taxes, plus if you find a rare car its increasing in value
Yep. I only did it once. Mistake. They try to turn it into a lifetime event.
At age 75, I only have one credit card and only owe around a couple of hundred dollars, no more! I also don't own a car. I have my wheelchair because I have a mild form of MS and get around with that. I live within my means! I don't know how some people can sleep at night with all their bills and debts of thousands of dollars! I also don't have to pay taxes where I live..."Live free or die"! Not looking to become rich. I'm rich in other ways, living near beautiful nature and my family and friends. We all have different definitions of living the good life! Not a ''shopaholic"! "Less is more" and "money doesn't buy happiness", as the old sayings go!
And how much wealth is enough. Greed is the biggest issue. If greed didn't exist, we wouldn't be paying 25% card payments etc. Some people will never have enough. We don't live forever. Some good advice, but to live a non greedy life is the key.
Interesting thanks for sharing 🙏
My 04 Camry v6 runs like a dream
I have a 2001 Toyota Camry, a 2007 sports car and a 2004 truck. No modern accessories but they all run great!
Only use a credit card for frequent consistent purchases like gas. It helps build your credit score when you need to get a loan for a house or when you need to replace a broken car. I have a credit score of 790 and im working on getting it to 800
Very smart young man. Wish I had met you before I tested positive for HIV many years ago I would have been ahead of the game financially @68years old! God Bless You!🙏👏
Are you related to Dick Turban?
Hi you're wonderful and bigger than a Hiv test. I hope it's not stopping you from living your life. Walls just exist in our minds
1:20 well still old vw golfs run they are in working condition : D
Terima kaseh, sudah faham selepas mengalaminya..
Dont buy things unnecessarily
My dad taught us as kids that "if you can't pay cash for it, you can't afford it."
The only debt I owe is to my fellow Marines who I fought alongside with. Ooorah!
where can i get 25% APR if i invest the most i see it 5-7%
I have a sixteen year old car that I bought three years ago for four grand in cash that runs just fine with routine maintenance. It gets me from point A to point B and that's all I need it for. No car payments and cheap insurance. My cousin always use to break my balls over having an old car, but why would I want to spend a ton of money on a new car, that is essentially going to do the exact same thing for me? I have a ten minute commute to work and most of my family and friends live within a half hour of me. Perfectly content with what I have.
I think therefore no university in US teaches how to successfully start and run profitable business.
A question. What is rich and what is poor?
Exactly the question I like to ask to👏
And do not pay taxes at all.
I only buy cars that I can pay in cash
4:55 nope I only need what’s necessary and as my abuelo always said it’s rent ,food ,clothing and non brand clothing if you want to save serious money ! Manage all these and you’ll be less stressed out !ohh yeah forget credit cards all together
I started selling my NVDA shares that I bought for $45 back in 2019 and i am sitting on roughly about $300k. Am i better off putting the money somewhere else or sit out and wait for a correction?
Well all i know is that you cannot go wrong taking profit at near high. No one ever went broke taking a ~10% profit. It's best if you consult with a fiduciary advisor to get informed buying & selling decisions.
I was also in a similar position few years ago, i took profit and it went even higher. Upon realizing that a change was necessary, I consulted a financial advisor in 2020 and since then my $1.2m portfolio has averaged 25% annually through restructuring and diversification using growth/blue chip stocks, ETFs, mutual funds, and REITs.
Impressive i could really use the help of an advisor as i am closing in on retirement. How can i reach this perso
She goes by ‘’Melissa Elise Robinson’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thanks for sharing. I searched her full name and found her website instantly. After reviewing her credentials and conducting due diligence, I reached out to her.
You know what you're talking about i learned alot today 😊
Thank you sir for this video!
Much love brother, but I literally don't have kids or a wife, or a mortgage, but even I struggle to pay the car rego these days without Australia's trade incentive program. S'pose it's better than being an alcoholic like I was during the pandemic.
If you know there’s no such thing as equally rich.. you’ll understand why …either earn a lot more than others or you make others earn less.. one task is easier than the other..
I only recently got the ability to afford getting a car do to how mandatory they are when it comes to the US. The entire country is set up so I have to have one, but even when I get my license soon I'm going to use it sparingly and use my local transportation to save on gas etc. It's only 1$ for a one-way trip in my county or 2$ for a round trip.
Corporate takeovers make investments untraceable.
People don't realize how trained they are as consumers. I tell people that my goal is to save 100K. I'm 1/3 of the way there. I invest, and people look at me like im speaking a different language. I drive an 07 focus that I keep maintained. I have a pretty cheap phone. Its a good phone but not even close to the flashiest or most expensive. I shop around for stuff. I don't buy brand new video games. I usually wait until they're out a few months and then get them off of ebay. I pretty much don't spend any more than I have to on something. No one owns me and I don't have any debt. I have a plan to not be poor and that plan does not involve relying on the government telling me that If I'm good when I'm old, I might get to have some of my money back. Fuck that.
Good video..
True.
That last statement was just! 🔥
Thankyou so much, such great advice. You should talk to kids in high school they would learn so much from you. Your a good man. I enjoyed that alot.
Thank you for teaching us! ❤
I appreciate the disclaimer. Instead of old, say retirees. The way the country is going it seems most of us won't have a choice but to depend on the government.
I feel you are financial advisor. I will follow your financial advise with all my wealth.
Always pay off the cards. You need to have them to build credit, but don’t get stupid with them. Anythig superfluous you buy should have a decent resale value in case you need emergency cash. When I lost my job I had to sell of my gun collection. Best investment ever.
At marker 3:12 he asks the question: why do people take out lines of credit. His answer is to spend money you don't have. But fails to ask the question: why do you not have the money? Gee I don't know maybe it's because paychecks stay below the cost of living! He doesn't ask that because he does not want to put the pressure on the system to turn us into a worker-friendly economy. So instead it is easier to put all the onus on the individual. Then he goes on to speak about Investments and all of that. If people's paychecks are underwater then what extra money will they have to invest? They will pay all of their necessities and still come up short. Henceforth, why the credit card comes into existence and why if you need a car you have to put a down payment on it and be forced to pay monthly installments because paychecks are underwater because you can't pay for it all at once or even put a large down payment on it to make your monthly installments cheaper
Only concern is you are saying to be a business owner. However, as a business owner you need to the employer and employee portion of payroll taxes. Can avoid some of these taxes with an s corp, but it requires a lot of documentation and planning.
Where do i get a 25% gain?! 😮
Well stop wanting unless things if I have a place to sleep and food to eat I am happy that's how it used to be plus I don't have a credit card never have
Great advice !
Don't use a credit card unless you're absolutely going to pay it off every month. *Only* use it as a cash back tool or for the perks, *not* to delay the inevitable while also racking up insane debt.
Debt is a trap for the financially illiterate and a tool for the financially educated
I agree with not spending money you don't have but you have to have a credit in this Society or you can even get an apartment or a job if use your card and completely pay it off each month you can get your credit score up quickly that way.
"Want not, waste not." Meet your needs and not your want's.
Agreed on number 1 I often buy sh*tbox cars and since I’m an auto tech I fix them myself and I always pay in cash.
I bought a car. I want a car before my 30’s. I don’t want a car after old age. So I bought a car. It strikes you different.
Very well said.
Put this in perspective Mom without a job gets a divorce has to pay the medical bills upfront with the money she’s given yet everything has to be put on a credit card because paying upfront there’s not enough money every month so it’s an endless cycle of debt and there’s just enough money to pay for the Tutoring in the medical bills yet I’m basically getting paid a lot less than what I originally was supposed to get so thank God if things wouldn’t happen the way they were I would be up a creek without a paddle. I’m just thankful. I’m just a little which is a little too much
Simple & excellent.
These videos are good to bring enlightening fact however advice on investments is fools gold since only 10% will be successful and not everyone can be business people and 90% loss on investment due to poor advice, falling and emerging markets and customer changes. Majority of the advice came from those who inherent money, what about those who have to find it so it's easier said than done.
The system profits when you’re financially stupid.
No….they don’t teach us nor our parents what they should in school. I don’t use none of that but math. I don’t speak euro English and I use a calculator for all math on my phone so all then exercises was for absolutely nothing. They taught me to get good grades in school instead of getting good credit score grades in life. It’s the government who teaches ignorance while certain ppl have a head start in life
True 🎉
Yupp if your an idiot then your gonna always make someone richer and you gonna be poorer and always struggling
Iprobably why public schools don’t cover that
Facts💯
This video is better then anything you can learn in school 🔥
I disagree. Basic math is way more important. You wouldn’t even be able to understand this video if you hadn’t been taught basic math and language skills.
@@ROVA00 sounds good. Do you have tutoring available? 😎
@@mikeberardi3985 no. Pick up an algebra book if you want to learn math or take a class from a local college. RUclips is good for getting you interested in a topic but you’ll never really learn fundamentals without getting into the details and practicing problems to solidify your understanding. Watching videos is easy because you just sit back but you need to apply and practice.
Grammar is pretty good to learn though.
We need both!
Ever since I became A Minimalist things have changed. Pay Yourself Not them.. TY for the Pep talk 👍
As a Nigerian myself, adopting minimalism have really helped me to go through the economic meant down we a facing right now.
I agree. Living simply is very gratifying.
Absolutely. Learn not to make the rich richer. Work for yourself by saving money. Keep saying these types of mantras over and over: I am saving because, I am working for myself. I am saving to make myself richer.
The system is crooked
I pay my cc off each and every month, I use my cc like it's my debit card, I am only spending what I can afford to pay back
Use their money, pay no annual fees.
I do the same. Companies typical pay the swipe fee.
And if you get cash back you are getting something and paying nothing for it.
But only if you pay the entire balance in the grace period.
Glad about you. But at same time concerned this is not the default behavior of most people.
Same. I've never paid cc interest and they pay me over 300 annually just to use it. Plus, when someone steals the card, I'm not liable.
Same here, free money as long as you don’t overspend just to get points or cash back.
It's not free money since you pay the bill . If you have the cash you don't need credit
If you are told to go to school to get a job you are trained to be poor
Just over broke
📠
Training is good for you. The right kind of training. Good to gain knowledge in your area of employment or if you're looking to better yourself.
Going to school and having a job doesn't preclude a person from acquiring knowledge to build wealth. Conversely, those who do not go to school and then get a job don't all possess the keys and knowledge to gain wealth, as your comment implies.
@@calvinedwards4382 ever heard of the word, ‘generalization’ ? Someone may go to school, get an engineering degree, find work with someone else, gain some experience, but eventually quit his job and use his training and job experience become an entrepreneur and be successful. The thing is, he broke away from the norm.