I’ve got a favour to ask! If you enjoy this, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this ❤🙏🏾 really appreciate you! x
Does RUclips offer a pension? Just say'n. Might want to look at the employment opportunities offered in today's world. Oh 8 million subscribers you don't need any help bro. Why don't you try helping others? Just say'n.
This advice should be reframed as "Don't buy a house you can't afford". I bought my house earlier this year and I have never felt so much stability in my life. I ran the numbers endlessly and stuck to my budget so I wouldn't be house poor. Being house poor prevents you from building wealth, not the sole act of buying a house.
Your mortgage doesn’t go up as fast as your earning potential can though. Said another way: I can keep climbing the ladder and making more money faster than my property taxes will rise.
Where will you live, will you rent? Because everyone says that but never say I rent or don’t rent so don’t buy a house because you can make more money than what that house will get you in the end. I bought a house 127k my sister rents and pays the same as what I pay mortgage and insurance together. When I sell this house I get whatever the house is sold for minus what I owe the bank. My sister that rents can’t get anything at all not even their deposit. I will always buy a house instead of renting.
I am a single mom and a hair stylist of 15 years. 1 year ago, I was scrounging for change and drinking too much because I was depressed and at a loss for a future vision. I started watching videos like this and made the change. Life was already crap, so I had nothing to lose. As of right now, I don't live pay check to paycheck anymore and I'm investing my savings while still having enough for an emergency in the bank. The peace of mind and spirit this small step forward has brought me is priceless. I haven't bought myself clothes in 2 years and I eat stuff like Ramen still 😂 I was doing thay anyway, so what's the big deal? PLEASE head the advice in this video. Study, learn, build your future. Become free! 🙏🙏
Congratulations on the winning mindset for your future! I hope you will also see the value in investing in your health with a quality diet as a priority pillar for success! I am taking the time to watch this twice with my girlfriend because this is the best perspective I’ve ever seen on the subject! Bless!
@@sunmoonstars3879I agree. No amount of money saved will correct failed health. We still have to take care of our bodies in the process of saving money. 🙏
Pension??, Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Indeed, Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
No doubt being financially free and not having to worry much about health care and other expenses especially after retirement cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
Jaspreet is the TRUTH! Love and appreciate him for educating me for years. For those of us born to families who aren’t financially savvy, and who’ve “made it” - we are so fortunate to have him impart such wisdom.
I wished people watched the whole episode before commenting. For starters, he never said to not buy a house. He said to not buy a house you can't afford and explained what affording meant. As someone who's looking into buying a house, I have seen my friends buy homes they can't afford and as a result are house poor. Sure they're saving some by not renting but they've pretty much sacrificing everything to pay the bills. This is the first time I came across him, and unlike the wanna be financial gurus, he seems to speak with clarity in simple words and keeps it factual instead of hyping things off. He comes off as a kind human being who genuinely wants ppl to grow and do well, just like he has done for himself. And one last thing I liked about him was that he keeps using the word 'wealth' instead of 'rich.' Good stuff 👍.
Forget the nice car, fancy clothes, impressing people that are in forever debt. Only impress your net worth. It's a lonely mindset until you roll in the circles of like minded ppl period. You are the people u spend the most time with. In 14 years I bought my home outright, I own my car. I just have to pay property taxes. My solar pays my electric bill. I can literally live on 1k per month income.
I am super psyched about this. After Ramit Sethi, Jasprit is my main money guy for financial literacy. I'm so glad you brought him on the show. Even if I've heard everything he has to say, I'm watching all the way through!
After about 10 episodes, I’ve noticed a clear difference in Steven’s energy during interviews. He’s genuinely engaged and happy with guests he finds interesting (like the divorce guy) but less enthusiastic with others he interviews mainly for his audience (like the UFO guy). It’s clear to me that he thoroughly enjoyed this conversation. Needless to say, fantastic content, I can't believe this is free. Loved it!
It’s amazing how much beliefs they teach us around money hold us back. How is nobody talking about 'Forbidden Laws of Wealth' by Victor Hayes, it really opens your eyes.
Scammers promoting in the comments section! What to do? Question Hi all. There is this scammer that has hundreds of RUclips accounts. He comments on really popular channels promoting a "book", and then uses his scam accounts to like the comment so that it's the first one on basically every video he comments on. The goal being that people Google the book and purchase it from his website. I assume he steals the credit card information and potentially has a virus included with the ebook someone would download. I've found him promoting on Joe Rogan, The Diary of a CEO, etc. Fortunately, YT allows you to see the last 3 comments left by users, which is how I find many of his scam comments and scam profiles. I leave a comment on each one I find letting people know this is a scam. My question is, how do I make YT aware of this guy? Is there anything that can be done? Below are some examples of the comments he leaves behind. "We are living in a trance. There is a reason they are trying to censore books like Health and Beauty Mastery." "How doesn't anyone know about a banned book Health and Beauty Mastery. Health industry is a big scam" "It's way more simple than you think. Forbidden Laws of Wealth by Victor Hayes revealed the hidden rules for real wealth-building. Successful people talked a lot about this book." Edit: not much response to this, but it's almost the ultimate scam. His comments don't violate YT rules, and pass the automated check when reported. He'll just keep getting millions of views to his websites for years to come. All he needs to do is keep his website up and running and 1 out of a million if not more will fall for his scam. It's a really smart scam tactic, I'll give him that. EDIT 2: the scammer is in the comments and is using the same tactic on Reddit now. I have screenshots of his comments and profile in case he deletes them.
Mindset, what Jaspreet preaches a lot. It does help that my current job makes me over 6 figures, but I still spend as if I were making less than half of that. More money does not mean more spending. Being more mindful with my finances and educated on how to make it work for me has helped a lot. Wealthy? No. Secure? Absolutely 😊
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Evelyn Vera, you're a miracle.
You guys talk about a wife/partner as a liability. And women play into it because they are taught from a young age to “marry well”. I married at 19 and after 13 years of getting him through college he decides he’s unhappy leaves the marriage and me with two kids. After that I decided I would never allow myself to be at the mercy of another’s whims. I worked two,jobs went to school at night got my accounting degree then a law degree. Today I am married to a wonderful person who worked hard and supported me in building my business. After 12 years we sold my business and invested 80% and used 20% to buy a nice home and a vacation home on the beach all debt free. This is true generational wealth.
@@jjmartin6422It seems like waiting to get married bites men too. If you get married later you're less likely to have a partner that builds with you and more likely to be looking through partners who are evaluating what you built.
I am so glue to this video topic..He said it real, we were never taught about money in school and in tertiary education..Rich dad Poor dad said it is not how much you are making but how much you save up....
I live alone and live in a two bedroomed house I bought for £60k back in 2013 when I was only making £1000 per month after tax. A do'er upper and drive a £4k Volvo. I live in a very secluded area where high earning jobs are overly satiated with applicants every time. I save £1000 per month with my current job and my house is already worth £100k in the 10 years I've owned it and only have £20k left to pay on the mortgage. But I'm happy being here. I don't need to move up on the property ladder. I only make £44k a year here in the UK which isn't that much at all and I work 12 hour shifts.
I would suggest you to consider getting on the property ladder and slowly decreasing the amount of time you work. Your growth is a great but don’t ever stop growing you have potential so please don’t stop yourself from achieving more.
We need more people like this telling us truth! Just finished reading Hidden Manifestation by Oliver Mercer. Its fascinating what they hide from society.
They had a poll in Finland and I am not kidding. They asked the general population what they think is the most likely way for a person to accumulate wealth. The absolute majority said "Winning the lottery".
Unbelievable! I listened to Dave Ramsey every single day, and saved 23,000 in 4 years, I just did what he said. I was a low paid school teacher here in Florida.
Shows like this that show the average person how to grow money similar to what they are working are pure gold. Thank you!! Many times shows go over how to grow existing wealth and not from a humble beginning. Best wishes all!
Good job starting so young. I did not wake up til I was 40 and realized I had 30k in debt and was late on a mortgage pmt. Now at 53 I have a paid off house and a net worth right at 900k. Just wish I started sooner
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Carol Vivian Constable for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
well, if everyone earned a lot of money from imaginary $8k condos, then nobody would work. we wouldnt have doctors, so we would live like in the middle ages with a 34 maximum year lifespan.
Buy land and get a mobile home. Property tax is cheaper. I bought a big plot of land that came with a mobile home. It cost me what rent would’ve cost me for 2 years in a city. I have privacy, big trees that give me fresh air, I can hear nature, my property tax is low because it’s a mobile home, I have my own well water that doesn’t have fluoride, I have electricity, I put in a woodstove as a back up plan, It’s super cozy, easy to heat and cool, low maintenance when I leave for months the winter. It’s cozy, I’m not trying to impress anyone or show off a big fancy home. I got some nice appliances that works well for me and I recommend people to do the same!
Its always interesting reading comments on videos that talk about these things. So many people are so biased towards owning their home that they ignor the maths and dont even give the maths a chance. Maths dont lie people....sometimes its financially beneficial to buy your house.. sometimes its financially beneficial to rent a house. There's always other factors...but always remember to do the maths first!
Facts. One person's numbers is gonna be different from another person's numbers. If I'm making $20K a year and you're making $200K a year, we ain't working with the same numbers.
My favorite part of the numbers: when you own a home, no one is gonna raise the rent. I’ll take that (and the fact ownership has hidden costs most people don’t plan for) over sudden increases. Also no one is gonna yell at me when I decide to remodel😂. *acknowledge that taxes increase but not like my rent did one year by increasing my rent from 1000 to 1500 + the hidden costs like sudden failure of major appliances or need for structural repair*
Maths don’t lie. It’s even better to own a home that you rent to others. My sister-in-law managed to finally pay off her house, although she nearly lost it during the pandemic. She now lives with an elderly relative and rents that other home out. Money in the bank every month for her retirement, and a property to sell if she needs to. The thing people forget about real estate is that it’s real. It has actual value, unlike a currency.
I did exactly what the guest is talking about! I retired 30 years ago when I was only 39 years old. The most satisfying part of the journey was Living below my means. I've done it so long it's ingrained even today.
I enjoy living below my means as well. Like I think it's totally unnecessary to spend loads of money. There's just no way I could go spend a ton of money it scares me thinking about it
Calling a purchase to live in a liability, while calling a purchase to rent out an asset misses the fact that you still need to live somewhere. A rental property may be putting money in your pocket, but it's replacing the money that you spent on your own rent. I still agree that renting can be better than buying if you diligently invest the money you would otherwise spend on a more expensive mortgage payment, and/or you invest the capital that would have been the down payment. But that "if" is critical, and not everyone is diligent enough.
Median rent in 2000 was $607. Median rent in 2024 is $2,025. That's 333.66%. You are insane if you don't buy a house quickly esp when your government prevents development of new housing supply.
I guess it depends on where you live. In Dallas, TX I was renting out a 3 bd 2 ba house for $1150. I sold the house but according to the comps for the area I could now get about $1750. Still a huge jump but not 333.66%
I don’t usually click and watch anything to do with financial advice. Until today. I’m one of those who have always thought, I’m just no good at making money or investing or using it to add wealth, etc.. I don’t know if it was the pink turban or the classy looking dude and his cool beard, but I decided to watch. And boy am I glad I did! What a brilliant show with oodles of practical, clear, interesting and inspiring and intelligent advice! Everything he said really made sense and gave me hope and confidence to make the steps to start improving my financial situation. 👍🏻👍🏻🙏🏻 Thank you!
Mostly is true but the longer we live the more opportunities are closing down as less and less assets are left for us to buy as we slowly turning in same way we lived past 2000 years when few own everything and we use their assets. Ww2 changed that and redistributed all assets. Unless there will be another asset redistribution we won't be wealthy as such.
I just saved up enough for 20% of an apartment. I have my own business. It’s doing better than I ever could have imagined but I’m trying to educate myself on money so I listened to this. Some good tips, so thank you
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
My outlook on money changed when I realized that is better to invest on or before retirement, some people are just putting £15k or £20k With the current market movement at the end of the year they are making millions.
Elizabeth Regina Nelson has really set the standard for others to follow, we love her here in the Uk 🇬🇧 as she has been really helpful and changed lots of life's.
It's amazing we aren't taught finance and economics in school. People also don't educate themselves. 2000 for an emergency fund is nowhere near enough unless you have bank of mum and dad.
This was one of the most common sense, basic easy to understand presentations on the basics of accumulating wealth for all persons. You are a superior teacher.
SO TRUE what he said about Mindset. Jaspreet is the reason I started creating financial goals and making changes in how I saved. Amazing conversation. So happy for to see Jaspreet here. Keep rocking !
Great chat. I don’t agree with house renting, buying a mug is a terrible comparison. People should know one thing, the ability to grow wealth is dependant on how much you spend, NOT how much you earn. And, we are not educated financially because we have to be kept desperate so we keep doing awful jobs to keep the wheels of society turning.
I dont understand his line of thought. He's relying on a bunch on constants that aren't constants. For eg; his explanation on passing on your house to your kids means that person needs to have kids in the first place... When we know that isn't always the case. I dont have kids, my house has tripled in value and the maintenance is low.. so all his points are completely bunk. There are too many unknowns with these things and its the same old story with these "gurus" where they rely on selling books or some 5 step program so he can make his own wealth based on shoddy advice
You're too invested into the conversation. There is not a one size fits all approach. The line of thinking he is illustrating is from one who doesn't understand the principals of money.
Thank you for interviewing Jaspreet. He is one of my favourites on RUclips. He is realistic and teaches you to manage what you have already. No bells & whistles needed.
I never listen to your full episodes. I get distracted and just can’t sit. I listened to this WHOLE thing. Busting to go to the loo now! Really loved it and got so much out of it. Thanks so much ❤
So if I pay off my $300,000 house for generational wealth and I pass this to my kids, then they won't be able to afford it because of taxes and insurance. Yet, my kids will be able to afford to rent another house which probably cost more to rent. Makes no sense. Having a paid off house is way better than renting.
That’s kind of what I was thinking. Often times the taxes can be worth 5 months of rent, sometimes less! So rather pay a full year of rent to someone else than pay 5 months of taxes on a paid off house ?? This the kind of homie who wants you to sell your house so he can buy it up from under you.
Agreed that point wasn't a good one, but lots of his others were. If my kids cant afford to pay the household bills when I leave them my house then they can get a job the lazy sods!
absolutely. paying off the mortgage asap is key. after that you are outgoing free, almost, for the rest of your life. you can then have the majority of your income to invest wisely, or semi retire even
Very valuable conversation! Also made me cry, which is a hint for myself to look closer at, hearing that many people can't achieve their goals because they just grew up - or are still growing up - in environments that try to convince them they CAN'T do it, instead of the opposite, is eye-opening 😢
We bought our first home in 2019 for 179k ($1000 down with new homebuyer program in Idaho) and sold it in 2021 for 350k and then moved to Mississippi and bought an acre with a cute house on it for cash. Not the easiest path but we did turn our first home purchase into an asset. We basically lived in it for free. My only regret is we didn’t do it sooner. We rented for ten years and that money is gone and the landlords treated us like garbage- made us move twice when I had a brand new baby or was big pregnant. If we’d bought sooner we’d have been in a million dollar home when we sold in 2021.
We bought our current house in 2016. It would now cost us twice our monthly mortgage payment to rent a comparable house in the local area. After less than 25 years of payments we'll never have to pay another mortgage payment but if we were renting we'd still be paying and have had 25+ years of rent increases. Without my house I'd be facing homelessness in old age on a meager pension.
Wow congrats on taking advantage of the huge upswing in prices. You did really well. Just so you know though, what happened recently in home price appreciation is not the norm. Houses don't usually appreciate that fast. In fact, it could've worked out in the opposite direction where you bought the house for $350k and 2 years later it was worth $179k. Real estate is about timing and it seems you lucked up and timed it perfectly.
This is absolutely one of the best RUclips interviews I’ve seen in a very long, long time. Thank you for this truly inspiring informative life altering.Piece.
I love this channel , is so educational , I’ve seen here great spiritual teachers, doctors In different fields , and the financial education episodes are amazing . I love your guests , these people have something to show and something to teach and they inspire not to give up on our dreams and to take care of our mental health, body health and soul ❤🙏, thank you Steven and the team and thank you to your guest, I just subscribed to his channel as well . Isn’t it great to see how we all suport each other to grow and learn and be better 🙏❤️🇦🇹 blessings from Austria
Save as fast, as hard and as young as you can. Buy a house and pay it off as fast as you can. The effort you put into that will be less than the effort of paying an increasing rent for 65+ years. There’s a world of difference between going to bed on a night knowing you have to service large monthly debts, and being mortgage free. Can’t afford the house you want? Get a starter home or move area. Only live in the south east if your salary aligns with the cost of living. Best scenario, earn a role that pays you a premium salary while being able to live in a cheaper area. It’s not rocket science. Too many people want everything now, at a standard that’s unachievable. Work when you’re young, play later.
Ok. Nice comment. But whats with ppl that never change thier worker mind and never jump up from thier original position until pension? They will work for us, making the world GDP...
Unless your mortgage rate is 6-7% or higher (unlikely), do not pay it off as quickly as possible. Save and leverage that extra money and invest it in a low cost Stock Index Fund (maybe in a Roth account), where you will historically make 7-10% a year. You'll end up ahead :)
@@Radoslav-gk7wu that’s like saying, I like eating chocolate, I only ever eat chocolate because I enjoy it. Oh no, I now have diabetes. You have to make decisions in life. Eat the food you don’t ‘like’ because it’s good for you or eat the food you like and suffer the consequences. Stay in the job you like where you’re comfortable but don’t achieve financial freedom, or take a job that’s more challenging but gives you more financial opportunity’s. You can’t have your cake and eat it.
I think the spider and ants at 1:06 are actually avoiding the pungent, thick ink trails. If we were that scale they'd be like streams of sewage and some giant would watch and say look they think they're trapped behind the lines but in reality we don't want poopy feet.
I think this is a great conversation but I think there is one point that is completely overlooked specially around the example about the frugal friend. The host does not know how happy this person is. Yes, it is good to save, and you should, but if you only save and don’t spend money on experiences, friends, family and things you love, are you ultimately happy? Or will your life finally kick in at 50-60 when you retire and you finally get to enjoy your money. We have to consider that there is a balance to this. Sure, spending incessantly is bad, but so is saving unnecessarily.
Some people don't need to buy things to be happy. Some people are most happy with things that cost nothing. When you are happy with what you have you don't think about an upgrade
I have watch this video over and over again on my phone, and it has moved my mind to a much better standards. please allow us to be able to download it.
Yes, owning a home is a liability because its not "making you money". However, if you rent part of your home like your basement for example or rent out a home that you own its an asset and you can accumulate wealth.
I'm retired at 27, This video here reminds me of my transformation from a nobody to having over 65,000 biweekly profit, a honest partner and a good daughter full of love
I'm thinking about beginning my investment journey, but I feel a bit overwhelmed and uncertain. Do you have any friendly tips or suggestions for people I could reach out to for guidance?
Amazing. I plan to start work at aged 55 when I am too old to actually do the things I like doing. Retiring when you're old is SO the wrong way to do things.
I think its healthy to look at housing as more than just an asset to build your wealth. Owning a home represents stability, security and peace. It represents a home where you can make memories and raise your children without having to move on the whims of a landlord. It represents a life without real estate agents periodically traipsing through your home, noting down any 'faults'. It represents having a roof over your head if you become too old or sick to work. Obviously you dont want your house to own you, so you should buy what you can afford, but that goes without saying. Housing is a fundamental human need.
Hahaha ! Just start a business people, it’s sooooo simple !! 😂😂😂 Give us a break : do you know the proportion of businesses that fail ?? Do you know what it takes to buy good properties ? Do you know what stocks to pick to make your money grow ? Each and every one of these domains are incredibly complex and will demand 100% of your time and energy. Which is quasi impossible. Most rich people are born rich, the others have stroked gold by starting the right business at the right time and working 80 hours a week with no life of their own. Be real, don’t sell dreams and oversimplified lies to people just so that YOU can get rich !
In europe yes, the rich there are mostly born rich, its difficult to create wealth in european union because it is more socialist than it is capitalist, in the USA most wealth isnt inherited. Jaspreet singh is an example hes not rich, he came to america and now he is rich, theres alot of rich people in the US they are just silent and pretend to be poor, but i know alot of them and by wealthy i mean they can afford a certain lifestyle without their job. If they have worked, its just for fun or to not get bored and to just be productive, i know many.
No one is saying it'll be easy to be wealthy here. Also not saying it's easy to start a business. But he shared how he started his. He worked for someone, got some experience, said (and this part is important) "Hey, if I can do this for someone else, why not for myself?", then went out and tried to make it work. The first place didn't work, the 2nd and 3rd didn't work, but he kept trying and eventually he got a gig. Who cares what proportion of businesses fail? If you don't start, and don't believe that You can do it, you'll never succeed. "Talking all that game but where's your business Asemco?" I tried an online store after connecting with tech vendors directly, and I failed. Tried a straight up dropshipping store and it failed. Took the skills I went to school for and started a freelancing software business. It was successful! However, I got a job that was paying me more than I had worked for solo. Thankfully, it's a software development job so I've learned even more to take back to my solo business.
Spy or Voo are two excellent long term investments that offer some diversity. The most important part is starting even if it's just $10 a week! Also known as dollar cost averaging investing. Buy when you can preferably automatically every week or month and hold for as long as possible! You should then start to see growth over time. Sure its not overnight but at least you know your building wealth for your future and it does build up overtime. The more you invest the quicker the growth usually. These investments over time will start to literally make money you would otherwise have to bust your butt to make. You DO Not need real estate to become wealthy. It's not the only way to wealth actually many investment pros prefer and recommend stocks over real estate.
This is so informative and packed with so much information. I want my children to listen and learn from this. I have taken note and saved the video to listen to over and over again. Thanks you.
Just one comment, many years ago I was shocked when I came to London in how people live there. Small crowded places that are badly maintained. Coming from eastern Europe I was always thinking that western Europeans have lot of money, nice cars, latest phones. Then it hit me. People with money I was describing are the ones living in their own property. Everyone else have to pay very high rent. Owning or not owning your property seems to be divider between poor and middle / higher class.
Thank you for keeping us informed about the financial process. I made 150 thousand dollars in cryptocurrency investments and other dividend income, it took me 2 months, this month I have profits of 21 thousand in cryptocurrencies, sp500 and stocks.
My advice to everyone is this: if you want to grow a lot this year, especially in your finances, be willing to invest in cryptocurrencies. Saving is great,
Buy and hold is risky because no one knows what the market will be like in the future, so it is better to trade rather than buy and hold, because in the process of buying and holding you can lose everything when the price falls against your expectations.
"Don't buy a house" has to be the most used sentence for financial "gurus" this past year. Why do they keep pushing this agenda? It is getting tiring and to the point where it can be very misleading. It can easily be your life's most solid financial decision to buy a house for people in the middle and lower class.
I think they're tryna counter the "Buy a House" logic. Neither option is black and white. There are times when it makes sense to buy a house and times when it simply doesn't. Right now is the perfect time for a message like don't buy a house because house prices are historically high and mortgage rates, insurance etc is also pretty high. Maybe wait until those things come down a bit.
This is the first and only RUclips channel that when I pick a video, I watch it until the very end, the ENTIRE 2 hours, including your paid promo adds 😅 Thank you for the educational and inspiring content.
They should keep saying ‚only in USA’… honestly - all this is sooo different in Europe. ‚Moving costs’ - absolutely ridiculous - do it yourself! I bought a house 5 years ago for 125k€. Was paying 550€ mortgage - if I would be renting it I would be paying around 1-1,5k€. Now sold it for 225k€. 100k€ + 5 years of saving almost 1k€… do the math yourself. I don’t think I could get better deal.
I bought a home 28 years ago for $150k, $560 a month mortgage. Yeah, I've made some "principle only" payments, but most of my excess earnings went to medical costs, travel (you have to have a few good memories in life) and savings. If I were to rent my home today it would cost around $3,000 a month. No regrets.
:-) same here. bought a house 12 years ago. sold it now for almost twice the price. bought for 360k, sold for 650k+. now i can work half the week, still earn 2500+ net / month. just have a small flat. but i can go hiking half a day. means the world for me. 48 years old, still have no car, no e-bike, dont need to fly around the world. from the materalistic point of view, i am poor. :-)
@HansRosenthal1 uhm, 12 years ago. Things have changed. Who can buy a house in Europe for 650k. Are you kidding me? Only rich people from Russia and Israel.
I've been looking into cryptocurrency investments, but I'm still unsure about the best and safest way to go about it. Any advice or insights you could share?
Maren Hilda Authurs is a highly sought out advisor who I found on a CNBC interview where she was featured, she understands the job perfectly. I recommend her
Maren Hilda Authurs is actually the one that guides me. I think the wisest thing that should be on every individual's list is to invest in different stream of income. I'm earning more this year because I have been investing while working at the same time.
So you know her too. I agree with you. I've seen amazing results since I started learning from the expert you just mentioned. She really knows how to break down complex strategies into simple steps. Definitely worth considering.
Love this Jaspreet's driving force. It really resonated with me. The saying "You can't beat the, join them." comes to mind - I flip it on the head for a reframe ... "You can't join them, beat them!!!"
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Shellane Maxwell
I'm surprised that you just mentioned and recommended Shellane Maxwell, I met her at a conference in 2019 and we have been working together ever since.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
She also helped me create a savings strategy that allowed me to set aside an additional $10000 a month. Now, I feel confident that I can retire five years earlier than I originally planned. If you're serious about securing your financial future, Shellane Maxwell is the one to talk to!
The guests keep getting better and better every single episode-so much wisdom shared here! Jaspreet Singh's insights on money are pure gold. This is the kind of advice that can genuinely change lives if applied. 🚀"
This is so timely... I've been playing so small and after hearing this I feel a greater confidence to tackle the issues I have with money and overcome them. I'm excited and ready to make the much needed Sacrifices to change my life and my families life. Thank you both💛
If you passed down a one-million-dollar house and your children couldn’t afford to keep it, there was another option besides selling it. They could rent it out, and the rental payments could cover maintenance, taxes, and even provide some profit.
How are they going to ensure they will have someone who can rent the house until it is paid off? Constantly finding new tenants to pay that kind of money has to be crazy when you can't afford the possible consequences of not being able to find a renter.
Renting can very tricky. You will often get tenants who don't pay rent and the eviction is a long and expensive process. Being a landlord is usually more trouble than it's worth.
@@monacoofthebluepacific2571 This will vary depends on the renter's demographic (and the demographic your property appeals to), the area the property is in, relevant landlord/tenant laws, etc. Don't expect to be hands-free when you're a landlord though, just like any other investment they're not meant to be set-and-forget. You can, however, delegate the responsibility to a real estate agent or a hedge fund manager. Just make sure you read all the contracts, obligations and understand what you're signing (you may decide to consult a lawyer for your first one, you'll get better at it the more contracts you signed).
Living cheaply, and not being afraid to look poor is how I have wealth today. I drove my 1998 Saturn SL for 11 years, even after getting a job as an engineer. My coworkers would often comment, “Do we even pay you?!” “Do you work for free?!” Then I finally saved up enough to buy a house, but I rented the 3 other rooms and made sure to be able to profit on the mortgage if I moved out. Mortgage Total/Rooms had to be less than $750 room. I now own 3 houses and it’s because I minimized the $ going out (buying used everything and not having any payments on anything) and maximized the $ coming in (side businesses like doggy sitting, doggy walking, renting kayaks and SUPs, etc).
I had a great job in IT making great money! I purchased 3 brand new vehicles with price tags I’m to embarrassed to say😖 Wow! I lived and learned! Now I rather learn and live! We always have it backwards 🙏🏽🌹
In Switzerland you can only buy a house with 20% down-payment. And if you want to own the property as an asset and rent, then it's even 25%. Majority doesn't own houses/apartments here.
I have family in Switzerland and all of them rent.There is not the stupid competition with buying.I think rents are regulated by government that why housing market is for living not for business.Germany are the same
Here in Canada most banks require 20% down to borrow the rest for a mortgage. Some banks even ask for 35%. To own an old one bedroom apartment is 150k minimum. Where in some states in the USA you can get 3 bed room houses for the same amount.
All I know is that if you rent, you are held hostage by a rent price that you cannot control, circumstances that could see your home sold out from beneath you. If you rent, never assume you are in your forever home. You could be asked to leave at anytime. I will be in my fifties, mortgage free. Yes, I pay property taxes and upkeep but for the square footage and freedom, there is no comparison to if I paid rent. Rents have gone crazy in many cities. Not everybody is good at investing or starting a business. In fact after rent, food, clothing etc….many don’t have a penny left over to save in today’s economy. Owning versus renting is an individual thing.
@@ClassyLB Agreed. Those are priced into renting. Especially housing costs are tremendous if you live with a woman, who has to update everything in the kitchen and bathrooms every 5 years.
I scrimped and saved from 10 years old to buy my first house at 22 that needed lots of redecorating. Flipped houses for 8 years. Downsized at 30 to be mortgage free and now the money i save from that goes into s&p500 for early retirement. It can work if you do it right and work hard for it. Harder to do today though I bet.
This is a great Guest to have . Thank you for inviting him for your show we learned lot . This is must we all need to know - money matters in nutshell. Thank you .
No, money moves and that's when profits are realised. The idea that it needs to be an exclusive simply isn't true. Every person that works in the EU is participating in the stock market. If you were right, no one would make money.
@ddevulders I'm looking at this as a complete man on the street trying to apply logic, I could be completely wrong. So let's say every teenager in the last year of school is taught ecomics, investing, etc thoroughly, they decide I'm not going to waste money on going out, buying unnecessary goods etc, instead they try to accrue capitol to invest and attain assets. Now, a country's economy is in a slump, and no one wants to work for a business because everyone is trying to be the owner of a business. So everyone is trying to be top dog with no workers for any enterprises. All these investment gurus, imo work on the premise that a majority of the population doesn't do what they say. Also there wouldn't be enough real estate for everyone to purchase a home to rent out, competition of everyone competing for the land/property would drive prices sky high, which would only allow the more well off to purchase said land.
I always say "anybody can be rich , but not everybody can be rich" It just doesn't work that way if we all became investment and business gurus , who's going to wait tables , pick up the trash ,cook food etc... That's why I've always believed every job in an economy is important and people deserve livable wages and good working conditions , expecting everyone to invest and be successful is simply stupid and unrealistic.
The biggest lie sold to men is mortgage. When people say I 'bought' my house when in fact you haven't. As soon as you stop paying your mortgage, the bank will take the house back. Also, the interest kills you. But I'd advise people to Google the definition of mortgage. It literally means, pledging to your death. If you wanna buy a house, you pay in full and if you cant afford it, leave it.
Even when it's paid off it's not yours. Stop paying taxes and see what happens. I will never again pay off a house. That lump sum of cash would be better served elsewhere
I’m 40 and am already collecting my pension for over a year now. I Joined the military at 18 weeks after 9/11. Bought 2 houses on the VA loan and currently rent out a 4-plex I bought using my VA loan.
I love this episode and it could not have come at a better time! I’m a single parent, a college student and an employee - looking for financial guidance and preparing for my mission. I looked to purchase the journal however with shipping costs it’s $75 usd which is outside of my current budget. Is am unsure how long it will be available, are you able to add afterpay for partial payments? Thank you for all of you’re free knowledge 🙏
You work for 42yrs to have $2m in your retirement, Meanwhile some people are putting just $20k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Well explained thank you for bringing up this video Financial education is indeed required for more than 80% of the society in the country as very few are literate on the subject. The value of the US🇺🇸dollar is declining due to inflation, but it is increasing in comparison to other currencies and commodities such as gold and real estate. I'm worried that rising inflation will cause my 550k in my retirement funds to lose value, But with the help of Mrs Maria I hit 220k this week from my investment of 45k, I am truly grateful for all the knowledge and nuggets you have given me over the past few months.
Go Jaspreet! I have been following you since your early days on Minority Mindset. I have told my family and friends to watch your videos. Glad to see you are on the fantastic Diary of a CEO podcast!
I’ve got a favour to ask! If you enjoy this, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this ❤🙏🏾 really appreciate you! x
Always.
Solid interview! We need more financial literacy in the world 🙏
Great video
I absolutely love your content Jaspreet! We need you in all schools. This should be on the school curriculum.
Does RUclips offer a pension? Just say'n. Might want to look at the employment opportunities offered in today's world.
Oh 8 million subscribers you don't need any help bro. Why don't you try helping others? Just say'n.
Thank you for having me on! I appreciate the opportunity 🙏🥑
Shut up
You are brilliant, thank you for sharing!
We appreciate the extra guac that’s always served up!
@@MinorityMindset jaspreet bhai, keep up the good work.
@@MinorityMindset thank you!
This advice should be reframed as "Don't buy a house you can't afford". I bought my house earlier this year and I have never felt so much stability in my life. I ran the numbers endlessly and stuck to my budget so I wouldn't be house poor. Being house poor prevents you from building wealth, not the sole act of buying a house.
This makes sense. Thank you
Excellent advice
Your mortgage doesn’t go up as fast as your earning potential can though.
Said another way: I can keep climbing the ladder and making more money faster than my property taxes will rise.
that makes much more sense to me.
Where will you live, will you rent? Because everyone says that but never say I rent or don’t rent so don’t buy a house because you can make more money than what that house will get you in the end. I bought a house 127k my sister rents and pays the same as what I pay mortgage and insurance together. When I sell this house I get whatever the house is sold for minus what I owe the bank. My sister that rents can’t get anything at all not even their deposit. I will always buy a house instead of renting.
I am a single mom and a hair stylist of 15 years. 1 year ago, I was scrounging for change and drinking too much because I was depressed and at a loss for a future vision. I started watching videos like this and made the change. Life was already crap, so I had nothing to lose. As of right now, I don't live pay check to paycheck anymore and I'm investing my savings while still having enough for an emergency in the bank. The peace of mind and spirit this small step forward has brought me is priceless. I haven't bought myself clothes in 2 years and I eat stuff like Ramen still 😂 I was doing thay anyway, so what's the big deal? PLEASE head the advice in this video. Study, learn, build your future. Become free! 🙏🙏
Congratulations on the winning mindset for your future! I hope you will also see the value in investing in your health with a quality diet as a priority pillar for success! I am taking the time to watch this twice with my girlfriend because this is the best perspective I’ve ever seen on the subject! Bless!
Congrats on seeing the light and taking the step(s) to a better future you will control.
Congratulations now ditch the crap diet and start taking care of yourself, you are what you eat.
@@sunmoonstars3879I agree. No amount of money saved will correct failed health. We still have to take care of our bodies in the process of saving money. 🙏
You must be one incredible woman. I don't know you but respect for what you managed to do.
Pension??, Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Indeed, Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
No doubt being financially free and not having to worry much about health care and other expenses especially after retirement cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
Consulting with a financial consultant can provide personalized insights and help align your investment strategy with your retirement goals.
Jaspreet is the TRUTH! Love and appreciate him for educating me for years. For those of us born to families who aren’t financially savvy, and who’ve “made it” - we are so fortunate to have him impart such wisdom.
I wished people watched the whole episode before commenting. For starters, he never said to not buy a house. He said to not buy a house you can't afford and explained what affording meant. As someone who's looking into buying a house, I have seen my friends buy homes they can't afford and as a result are house poor. Sure they're saving some by not renting but they've pretty much sacrificing everything to pay the bills. This is the first time I came across him, and unlike the wanna be financial gurus, he seems to speak with clarity in simple words and keeps it factual instead of hyping things off. He comes off as a kind human being who genuinely wants ppl to grow and do well, just like he has done for himself. And one last thing I liked about him was that he keeps using the word 'wealth' instead of 'rich.' Good stuff 👍.
I agree I've noticed that on many of the videos but the real winners will truly listen all the way
Forget the nice car, fancy clothes, impressing people that are in forever debt. Only impress your net worth. It's a lonely mindset until you roll in the circles of like minded ppl period. You are the people u spend the most time with.
In 14 years I bought my home outright, I own my car. I just have to pay property taxes. My solar pays my electric bill. I can literally live on 1k per month income.
Ppl just slow man
He also said not to watch TV for two hours or more, which is the length of this episode. What irony
It's because too many people online are short attention span idiots who cannot fight the impulse to voice nonsene
"Its very difficult to speak logic to an emotion" very true statement. Most of our decisions on how we spend money are based on emotions.
Can’t believe this content is free. One of the best episodes. Admirable episode!!
It's not free. You're paying with RUclips Premium and Watching Ads
Listen!!!
Nothing is free in the world
This is the first time I’ve listened to a podcast, paused and taken notes (10 pages of notes !)
Thank you for this
Can you please share your notes with us, as we learn from each other a lot
@ sure. They are handwritten, I’ll see if I’m able to share them here
Jaspreet is here?? What a legend! This random guy on the internet taught me soo much about money!
I am super psyched about this. After Ramit Sethi, Jasprit is my main money guy for financial literacy. I'm so glad you brought him on the show. Even if I've heard everything he has to say, I'm watching all the way through!
Have a look at Gary Stevens economics
I’m so glad you had Jaspreet on as a guest. I’ve been watching him for over a year now. And I love how simple his money messages and education are.
after i read book Money Ancient Magic everything changed for me!
big recommendation, this book is so goated
Are you rich now?
@@Shiibaihow much did it boost your wealth?
@@Peepppinpppper lol
@@Peepppinpppper dude xD?
After about 10 episodes, I’ve noticed a clear difference in Steven’s energy during interviews. He’s genuinely engaged and happy with guests he finds interesting (like the divorce guy) but less enthusiastic with others he interviews mainly for his audience (like the UFO guy). It’s clear to me that he thoroughly enjoyed this conversation.
Needless to say, fantastic content, I can't believe this is free. Loved it!
That divorce guy is the BEST, so far!
It’s amazing how much beliefs they teach us around money hold us back. How is nobody talking about 'Forbidden Laws of Wealth' by Victor Hayes, it really opens your eyes.
I got it, truly a good book
Bot
Spam. That book is worth less than
Beware this may be a scam !
Scammers promoting in the comments section! What to do?
Question
Hi all.
There is this scammer that has hundreds of RUclips accounts. He comments on really popular channels promoting a "book", and then uses his scam accounts to like the comment so that it's the first one on basically every video he comments on. The goal being that people Google the book and purchase it from his website. I assume he steals the credit card information and potentially has a virus included with the ebook someone would download.
I've found him promoting on Joe Rogan, The Diary of a CEO, etc. Fortunately, YT allows you to see the last 3 comments left by users, which is how I find many of his scam comments and scam profiles. I leave a comment on each one I find letting people know this is a scam.
My question is, how do I make YT aware of this guy? Is there anything that can be done? Below are some examples of the comments he leaves behind.
"We are living in a trance. There is a reason they are trying to censore books like Health and Beauty Mastery."
"How doesn't anyone know about a banned book Health and Beauty Mastery. Health industry is a big scam"
"It's way more simple than you think. Forbidden Laws of Wealth by Victor Hayes revealed the hidden rules for real wealth-building. Successful people talked a lot about this book."
Edit: not much response to this, but it's almost the ultimate scam. His comments don't violate YT rules, and pass the automated check when reported. He'll just keep getting millions of views to his websites for years to come. All he needs to do is keep his website up and running and 1 out of a million if not more will fall for his scam. It's a really smart scam tactic, I'll give him that.
EDIT 2: the scammer is in the comments and is using the same tactic on Reddit now. I have screenshots of his comments and profile in case he deletes them.
I’ve been watching Jaspreet for years, love his financial knowledge and insights, so happy to see him on DOAC! 😊
Are you wealthier after watching him for years? If not, what improved in your life?
Mindset, what Jaspreet preaches a lot. It does help that my current job makes me over 6 figures, but I still spend as if I were making less than half of that. More money does not mean more spending. Being more mindful with my finances and educated on how to make it work for me has helped a lot. Wealthy? No. Secure? Absolutely 😊
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
Wow that's huge, how do you make that much monthly?
I'm 37 and have been looking for ways to be successful, please how??
It's Ms. Evelyn Vera doing, she's changed my life.
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Evelyn Vera, you're a miracle.
You guys talk about a wife/partner as a liability. And women play into it because they are taught from a young age to “marry well”. I married at 19 and after 13 years of getting him through college he decides he’s unhappy leaves the marriage and me with two kids. After that I decided I would never allow myself to be at the mercy of another’s whims. I worked two,jobs went to school at night got my accounting degree then a law degree. Today I am married to a wonderful person who worked hard and supported me in building my business. After 12 years we sold my business and invested 80% and used 20% to buy a nice home and a vacation home on the beach all debt free. This is true generational wealth.
Sounds like you're one of the good ones. You ran the race with your guy, instead of just waiting at the finish line.
Did your parents raise your 2 children?
@@jjmartin6422It seems like waiting to get married bites men too. If you get married later you're less likely to have a partner that builds with you and more likely to be looking through partners who are evaluating what you built.
@@heykikewould you ask that a male entrepreneur too?
@@thinkbig5438 she said she was left with 2 kids, ur not thinking so big , are u
I am so glue to this video topic..He said it real, we were never taught about money in school and in tertiary education..Rich dad Poor dad said it is not how much you are making but how much you save up....
I live alone and live in a two bedroomed house I bought for £60k back in 2013 when I was only making £1000 per month after tax. A do'er upper and drive a £4k Volvo. I live in a very secluded area where high earning jobs are overly satiated with applicants every time. I save £1000 per month with my current job and my house is already worth £100k in the 10 years I've owned it and only have £20k left to pay on the mortgage. But I'm happy being here. I don't need to move up on the property ladder. I only make £44k a year here in the UK which isn't that much at all and I work 12 hour shifts.
I would suggest you to consider getting on the property ladder and slowly decreasing the amount of time you work. Your growth is a great but don’t ever stop growing you have potential so please don’t stop yourself from achieving more.
44k a year in the UK isn't bad tbh it's above the average earnings
@@ItShivudid you even read his comment, he is on the property ladder and has almost paid off his mortgage
He owns his house but has no investment house so the advice is good @@Fulforce
We need more people like this telling us truth! Just finished reading Hidden Manifestation by Oliver Mercer. Its fascinating what they hide from society.
I couldn't agree more. It's time to break free from the illusions and embrace reality. Thanks for sharing this incredible book!
scam
DO NOT BUY THIS BOOK . ITS A SCAM
Why? What do you mean? @@JohnBrown-kg2vz
“They”??? Who is “they”??
They had a poll in Finland and I am not kidding. They asked the general population what they think is the most likely way for a person to accumulate wealth.
The absolute majority said "Winning the lottery".
Unbelievable! I listened to Dave Ramsey every single day, and saved 23,000 in 4 years, I just did what he said. I was a low paid school teacher here in Florida.
@@Candy-O1776 the USA and most European countries are very different when it comes to finances due to how the government runs things.
Winning the lotto?!?wow
Polls? Well.. they are not accurate... they are easy to ruin with a few phones now...
Shows like this that show the average person how to grow money similar to what they are working are pure gold. Thank you!! Many times shows go over how to grow existing wealth and not from a humble beginning. Best wishes all!
Good job starting so young. I did not wake up til I was 40 and realized I had 30k in debt and was late on a mortgage pmt. Now at 53 I have a paid off house and a net worth right at 900k. Just wish I started sooner
investors like you should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
Pls how can i meet this advis0r? i want someone to help me invest an Inheritance, i dont want to lose it to inflation
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Carol Vivian Constable for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
The fact that nobody talks about the book Matrix Golden Cashflow Tactics, speaks volumes why people dont earn a lot of money..
Thank you soo much for sharing it
well, if everyone earned a lot of money from imaginary $8k condos, then nobody would work. we wouldnt have doctors, so we would live like in the middle ages with a 34 maximum year lifespan.
Where do I find it. I am not finding it.
It's a bot@@christinakis7265
@hadiqaamjad2571 bot
Buy land and get a mobile home. Property tax is cheaper. I bought a big plot of land that came with a mobile home. It cost me what rent would’ve cost me for 2 years in a city. I have privacy, big trees that give me fresh air, I can hear nature, my property tax is low because it’s a mobile home, I have my own well water that doesn’t have fluoride, I have electricity, I put in a woodstove as a back up plan, It’s super cozy, easy to heat and cool, low maintenance when I leave for months the winter. It’s cozy, I’m not trying to impress anyone or show off a big fancy home. I got some nice appliances that works well for me and I recommend people to do the same!
This is the way.
Enjoy your trailer 🤣🤣🤣🤣🤣🍆
@@bobzacamano658sounds like he is..
Do you have children in school? This sounds good but it all depends on ur circumstances.
@@KaydeneJ yes and what about hurricanes ... how would it be able to withstand a hurricane and some of the crazy weather that we're having
Its always interesting reading comments on videos that talk about these things. So many people are so biased towards owning their home that they ignor the maths and dont even give the maths a chance.
Maths dont lie people....sometimes its financially beneficial to buy your house.. sometimes its financially beneficial to rent a house.
There's always other factors...but always remember to do the maths first!
Facts. One person's numbers is gonna be different from another person's numbers. If I'm making $20K a year and you're making $200K a year, we ain't working with the same numbers.
@@madvillainy6845that person making 200k is in debt keeping up appearances. the person making 20-40k a year is saving more
My favorite part of the numbers: when you own a home, no one is gonna raise the rent. I’ll take that (and the fact ownership has hidden costs most people don’t plan for) over sudden increases. Also no one is gonna yell at me when I decide to remodel😂.
*acknowledge that taxes increase but not like my rent did one year by increasing my rent from 1000 to 1500 + the hidden costs like sudden failure of major appliances or need for structural repair*
You're totally right!
Maths don’t lie. It’s even better to own a home that you rent to others.
My sister-in-law managed to finally pay off her house, although she nearly lost it during the pandemic. She now lives with an elderly relative and rents that other home out. Money in the bank every month for her retirement, and a property to sell if she needs to.
The thing people forget about real estate is that it’s real. It has actual value, unlike a currency.
This the best 2,5 hours I invested in myself for a long time. Thank you to both of you!
“You don’t know what good looks like.” This is SO true!! So so so true! Don’t be in a rush. Take your time.
I did exactly what the guest is talking about! I retired 30 years ago when I was only 39 years old. The most satisfying part of the journey was Living below my means. I've done it so long it's ingrained even today.
I enjoy living below my means as well. Like I think it's totally unnecessary to spend loads of money. There's just no way I could go spend a ton of money it scares me thinking about it
I am doing reverse retirement. I plan to start working at aged 55 after I'm too knackered to do things I like doing.
Calling a purchase to live in a liability, while calling a purchase to rent out an asset misses the fact that you still need to live somewhere. A rental property may be putting money in your pocket, but it's replacing the money that you spent on your own rent.
I still agree that renting can be better than buying if you diligently invest the money you would otherwise spend on a more expensive mortgage payment, and/or you invest the capital that would have been the down payment. But that "if" is critical, and not everyone is diligent enough.
No way! Jaspreet is on here?? Definitely finishing this one.
Jaspreet!!!! He's the man! He knows his stuff. Been following him for years. Great conversation!
Median rent in 2000 was $607.
Median rent in 2024 is $2,025.
That's 333.66%.
You are insane if you don't buy a house quickly esp when your government prevents development of new housing supply.
It is all by design: “You will own nothing and be happy”
It will all go to crap soon, that’s their plan
I guess it depends on where you live. In Dallas, TX I was renting out a 3 bd 2 ba house for $1150. I sold the house but according to the comps for the area I could now get about $1750. Still a huge jump but not 333.66%
Imagine how much the government is going to steal back from your house when you die.
I don’t usually click and watch anything to do with financial advice. Until today. I’m one of those who have always thought, I’m just no good at making money or investing or using it to add wealth, etc.. I don’t know if it was the pink turban or the classy looking dude and his cool beard, but I decided to watch. And boy am I glad I did! What a brilliant show with oodles of practical, clear, interesting and inspiring and intelligent advice! Everything he said really made sense and gave me hope and confidence to make the steps to start improving my financial situation. 👍🏻👍🏻🙏🏻 Thank you!
His channel and daily newsletter is pretty good too.
Yes Jaspreet is the best! Keep following him.👏👏
Same here 😅
Mostly is true but the longer we live the more opportunities are closing down as less and less assets are left for us to buy as we slowly turning in same way we lived past 2000 years when few own everything and we use their assets. Ww2 changed that and redistributed all assets. Unless there will be another asset redistribution we won't be wealthy as such.
I just saved up enough for 20% of an apartment. I have my own business. It’s doing better than I ever could have imagined but I’m trying to educate myself on money so I listened to this.
Some good tips, so thank you
I'm glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love
My advice to everyone is that saving is great but investment is the key to be successful imagine investing $15,000 and received $472,700.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
My outlook on money changed when I realized that is better to invest on or before retirement, some people are just putting £15k or £20k With the current market movement at the end of the year they are making millions.
Thanks to Mrs. Elizabeth Regina Nelsen's time in my life, which had a profound impact on me.
Elizabeth Regina Nelson has really set the standard for others to follow, we love her here in the Uk 🇬🇧 as she has been really helpful and changed lots of life's.
Notice he uses the word "Wealthy" instead of "Rich". Big difference there. Wealth never stops.
It's amazing we aren't taught finance and economics in school. People also don't educate themselves. 2000 for an emergency fund is nowhere near enough unless you have bank of mum and dad.
No one would pay attention.
It's deliberate, the masses are actively detracted from the mechanisms of state sponsored theft.
It's deliberate, the masses are actively detracted from the mechanisms of state sponsored theft.
It's deliberate, the masses are actively detracted from the mechanisms of state sponsored theft.
We're taught to be workers and make money for the governments and rich people that's what the system educate us for.
Thank you for having Jaspreet in your podcast🙏🏻
A doctor contributes to society. This man takes money from other that cannot afford a home
So are you saying that he’s not a good person?
This was one of the most common sense, basic easy to understand presentations on the basics of accumulating wealth for all persons.
You are a superior teacher.
SO TRUE what he said about Mindset. Jaspreet is the reason I started creating financial goals and making changes in how I saved. Amazing conversation. So happy for to see Jaspreet here. Keep rocking !
The concept in “Mastering the AI Money Game” explains this perfectly. I wish I read it sooner
THIS IS A SCAM
@@JohnBrown-kg2vzOK but can you elaborate a bit further?
It's an Ai comment. People spam comment these fake books. @@filipealves6602
BULLSSHITT do not listen
Great chat. I don’t agree with house renting, buying a mug is a terrible comparison.
People should know one thing, the ability to grow wealth is dependant on how much you spend, NOT how much you earn. And, we are not educated financially because we have to be kept desperate so we keep doing awful jobs to keep the wheels of society turning.
I dont understand his line of thought. He's relying on a bunch on constants that aren't constants.
For eg; his explanation on passing on your house to your kids means that person needs to have kids in the first place... When we know that isn't always the case. I dont have kids, my house has tripled in value and the maintenance is low.. so all his points are completely bunk.
There are too many unknowns with these things and its the same old story with these "gurus" where they rely on selling books or some 5 step program so he can make his own wealth based on shoddy advice
@@Gino_567 I have never understood the “renting” argument. Rent always goes up and lasts forever. Other than that, I really enjoyed the podcast.
You're too invested into the conversation. There is not a one size fits all approach. The line of thinking he is illustrating is from one who doesn't understand the principals of money.
Thank you for interviewing Jaspreet. He is one of my favourites on RUclips. He is realistic and teaches you to manage what you have already. No bells & whistles needed.
I never listen to your full episodes. I get distracted and just can’t sit. I listened to this WHOLE thing. Busting to go to the loo now! Really loved it and got so much out of it. Thanks so much ❤
So if I pay off my $300,000 house for generational wealth and I pass this to my kids, then they won't be able to afford it because of taxes and insurance. Yet, my kids will be able to afford to rent another house which probably cost more to rent. Makes no sense. Having a paid off house is way better than renting.
That’s kind of what I was thinking. Often times the taxes can be worth 5 months of rent, sometimes less! So rather pay a full year of rent to someone else than pay 5 months of taxes on a paid off house ?? This the kind of homie who wants you to sell your house so he can buy it up from under you.
Agreed that point wasn't a good one, but lots of his others were. If my kids cant afford to pay the household bills when I leave them my house then they can get a job the lazy sods!
absolutely. paying off the mortgage asap is key. after that you are outgoing free, almost, for the rest of your life. you can then have the majority of your income to invest wisely, or semi retire even
he even says, renters money made him rich, poor hams
Very valuable conversation! Also made me cry, which is a hint for myself to look closer at, hearing that many people can't achieve their goals because they just grew up - or are still growing up - in environments that try to convince them they CAN'T do it, instead of the opposite, is eye-opening 😢
We bought our first home in 2019 for 179k ($1000 down with new homebuyer program in Idaho) and sold it in 2021 for 350k and then moved to Mississippi and bought an acre with a cute house on it for cash. Not the easiest path but we did turn our first home purchase into an asset. We basically lived in it for free.
My only regret is we didn’t do it sooner. We rented for ten years and that money is gone and the landlords treated us like garbage- made us move twice when I had a brand new baby or was big pregnant. If we’d bought sooner we’d have been in a million dollar home when we sold in 2021.
We bought our current house in 2016. It would now cost us twice our monthly mortgage payment to rent a comparable house in the local area. After less than 25 years of payments we'll never have to pay another mortgage payment but if we were renting we'd still be paying and have had 25+ years of rent increases. Without my house I'd be facing homelessness in old age on a meager pension.
Wow congrats on taking advantage of the huge upswing in prices. You did really well. Just so you know though, what happened recently in home price appreciation is not the norm. Houses don't usually appreciate that fast. In fact, it could've worked out in the opposite direction where you bought the house for $350k and 2 years later it was worth $179k. Real estate is about timing and it seems you lucked up and timed it perfectly.
Timing is everything. My 1.1 million dollar home was valued at 550k 3 years later.
This is absolutely one of the best RUclips interviews I’ve seen in a very long, long time. Thank you for this truly inspiring informative life altering.Piece.
I love this channel , is so educational , I’ve seen here great spiritual teachers, doctors In different fields , and the financial education episodes are amazing . I love your guests , these people have something to show and something to teach and they inspire not to give up on our dreams and to take care of our mental health, body health and soul ❤🙏, thank you Steven and the team and thank you to your guest, I just subscribed to his channel as well . Isn’t it great to see how we all suport each other to grow and learn and be better 🙏❤️🇦🇹 blessings from Austria
Save as fast, as hard and as young as you can. Buy a house and pay it off as fast as you can. The effort you put into that will be less than the effort of paying an increasing rent for 65+ years. There’s a world of difference between going to bed on a night knowing you have to service large monthly debts, and being mortgage free. Can’t afford the house you want? Get a starter home or move area. Only live in the south east if your salary aligns with the cost of living. Best scenario, earn a role that pays you a premium salary while being able to live in a cheaper area. It’s not rocket science. Too many people want everything now, at a standard that’s unachievable. Work when you’re young, play later.
Ok. Nice comment. But whats with ppl that never change thier worker mind and never jump up from thier original position until pension? They will work for us, making the world GDP...
Unless your mortgage rate is 6-7% or higher (unlikely), do not pay it off as quickly as possible. Save and leverage that extra money and invest it in a low cost Stock Index Fund (maybe in a Roth account), where you will historically make 7-10% a year. You'll end up ahead :)
@@Radoslav-gk7wu that’s like saying, I like eating chocolate, I only ever eat chocolate because I enjoy it. Oh no, I now have diabetes. You have to make decisions in life. Eat the food you don’t ‘like’ because it’s good for you or eat the food you like and suffer the consequences. Stay in the job you like where you’re comfortable but don’t achieve financial freedom, or take a job that’s more challenging but gives you more financial opportunity’s. You can’t have your cake and eat it.
@@cmeederGood advice
Most cannot get a mortgage for over $700,000 AUD in Perth, Western Australia
I think the spider and ants at 1:06 are actually avoiding the pungent, thick ink trails. If we were that scale they'd be like streams of sewage and some giant would watch and say look they think they're trapped behind the lines but in reality we don't want poopy feet.
I think this is a great conversation but I think there is one point that is completely overlooked specially around the example about the frugal friend. The host does not know how happy this person is. Yes, it is good to save, and you should, but if you only save and don’t spend money on experiences, friends, family and things you love, are you ultimately happy? Or will your life finally kick in at 50-60 when you retire and you finally get to enjoy your money. We have to consider that there is a balance to this. Sure, spending incessantly is bad, but so is saving unnecessarily.
Spending 75% of income only is enough to live
There are way more overspenders than oversavers so your argument doesn't really matter.
@@kareem199928 that’s the whole point. Over spendings need to start saving
@@kareem199928Who do you think you are, making a comment like that 😮
Some people don't need to buy things to be happy. Some people are most happy with things that cost nothing. When you are happy with what you have you don't think about an upgrade
I have watch this video over and over again on my phone, and it has moved my mind to a much better standards. please allow us to be able to download it.
Record it bro!
I've been following Jaspreet for years and he's a very wise person with regard to business and money.
Yes, owning a home is a liability because its not "making you money". However, if you rent part of your home like your basement for example or rent out a home that you own its an asset and you can accumulate wealth.
Just make sure you vet the basement dweller. LOL!
I'm retired at 27, This video here reminds me of my transformation from a nobody to having over 65,000 biweekly profit, a honest partner and a good daughter full of love
I'm thinking about beginning my investment journey, but I feel a bit overwhelmed and uncertain. Do you have any friendly tips or suggestions for people I could reach out to for guidance?
Amazing. I plan to start work at aged 55 when I am too old to actually do the things I like doing. Retiring when you're old is SO the wrong way to do things.
It's prudent to seek expert advice when creating a solid financial portfolio due to its complexities.
The truth is, you can't succeed without a reliable person like Codie
Codie Sanchez distinctive strength is her pragmatic approach, setting her apart from other brokers who often set unrealistic goals and fail to deliver
I always appreciate having this guest on. But seriously... in what world can you buy a condo for 8.000?
You can hardly even buy a decent campervan for that.
"Where you put your attention, is where you will get results" truly resonated. Great episode!
Brilliant, Practical and Insightful. Thank you for this podcast.
I think its healthy to look at housing as more than just an asset to build your wealth. Owning a home represents stability, security and peace.
It represents a home where you can make memories and raise your children without having to move on the whims of a landlord. It represents a life without real estate agents periodically traipsing through your home, noting down any 'faults'. It represents having a roof over your head if you become too old or sick to work.
Obviously you dont want your house to own you, so you should buy what you can afford, but that goes without saying.
Housing is a fundamental human need.
Hahaha ! Just start a business people, it’s sooooo simple !! 😂😂😂 Give us a break : do you know the proportion of businesses that fail ?? Do you know what it takes to buy good properties ? Do you know what stocks to pick to make your money grow ?
Each and every one of these domains are incredibly complex and will demand 100% of your time and energy. Which is quasi impossible.
Most rich people are born rich, the others have stroked gold by starting the right business at the right time and working 80 hours a week with no life of their own.
Be real, don’t sell dreams and oversimplified lies to people just so that YOU can get rich !
With stocks I don’t think he’s saying you need to pick stocks. You can just buy an s&p500 index fund and outperform 95% of active fund managers.
In europe yes, the rich there are mostly born rich, its difficult to create wealth in european union because it is more socialist than it is capitalist, in the USA most wealth isnt inherited. Jaspreet singh is an example hes not rich, he came to america and now he is rich, theres alot of rich people in the US they are just silent and pretend to be poor, but i know alot of them and by wealthy i mean they can afford a certain lifestyle without their job. If they have worked, its just for fun or to not get bored and to just be productive, i know many.
No one is saying it'll be easy to be wealthy here.
Also not saying it's easy to start a business. But he shared how he started his. He worked for someone, got some experience, said (and this part is important) "Hey, if I can do this for someone else, why not for myself?", then went out and tried to make it work. The first place didn't work, the 2nd and 3rd didn't work, but he kept trying and eventually he got a gig.
Who cares what proportion of businesses fail? If you don't start, and don't believe that You can do it, you'll never succeed.
"Talking all that game but where's your business Asemco?" I tried an online store after connecting with tech vendors directly, and I failed. Tried a straight up dropshipping store and it failed. Took the skills I went to school for and started a freelancing software business. It was successful! However, I got a job that was paying me more than I had worked for solo.
Thankfully, it's a software development job so I've learned even more to take back to my solo business.
Spy or Voo are two excellent long term investments that offer some diversity. The most important part is starting even if it's just $10 a week! Also known as dollar cost averaging investing. Buy when you can preferably automatically every week or month and hold for as long as possible! You should then start to see growth over time. Sure its not overnight but at least you know your building wealth for your future and it does build up overtime. The more you invest the quicker the growth usually. These investments over time will start to literally make money you would otherwise have to bust your butt to make. You DO Not need real estate to become wealthy. It's not the only way to wealth actually many investment pros prefer and recommend stocks over real estate.
this guy is indian 'rich dad poor dad' just not as good
This guy is basically regurgitating Rich Dad, Poor Dad by Robert Kiyasaki - which is an excellent read and changes one’s way of thinking
Watch his shows, he's very encouraging and informative
The younger version
This is one of the best if not the best interviews I have watched on DOCEO. I will have to watch this again. Wow.
This is so informative and packed with so much information. I want my children to listen and learn from this. I have taken note and saved the video to listen to over and over again.
Thanks you.
Just one comment, many years ago I was shocked when I came to London in how people live there. Small crowded places that are badly maintained. Coming from eastern Europe I was always thinking that western Europeans have lot of money, nice cars, latest phones. Then it hit me. People with money I was describing are the ones living in their own property. Everyone else have to pay very high rent. Owning or not owning your property seems to be divider between poor and middle / higher class.
Thank you for keeping us informed about the financial process. I made 150 thousand dollars in cryptocurrency investments and other dividend income, it took me 2 months, this month I have profits of 21 thousand in cryptocurrencies, sp500 and stocks.
My advice to everyone is this: if you want to grow a lot this year, especially in your finances, be willing to invest in cryptocurrencies. Saving is great,
Buy and hold is risky because no one knows what the market will be like in the future, so it is better to trade rather than buy and hold, because in the process of buying and holding you can lose everything when the price falls against your expectations.
It is advisable to seek professional guidance when creating a solid financial portfolio due to its complexity.
Henry Alexander is a very legitimate and competent man, his method works like magic, I keep winning with his strategies.
His teachings are so financially educational that I have learned a lot from him and I am grateful to his professional guidance.
"Don't buy a house" has to be the most used sentence for financial "gurus" this past year. Why do they keep pushing this agenda? It is getting tiring and to the point where it can be very misleading. It can easily be your life's most solid financial decision to buy a house for people in the middle and lower class.
Because buying a house is unintelligent in most circumstances.
@@chrisbentsen1 In some circumstances. Not in most.
I think they're tryna counter the "Buy a House" logic. Neither option is black and white. There are times when it makes sense to buy a house and times when it simply doesn't. Right now is the perfect time for a message like don't buy a house because house prices are historically high and mortgage rates, insurance etc is also pretty high. Maybe wait until those things come down a bit.
This is the first time I've heard of Jaspreet and I'm inspired. Gonna be doing the 75/15/10 rule from now on!
This is the first and only RUclips channel that when I pick a video, I watch it until the very end, the ENTIRE 2 hours, including your paid promo adds 😅 Thank you for the educational and inspiring content.
*WOW* 😳
LOVE this guy!!!
Scored getting him
They should keep saying ‚only in USA’… honestly - all this is sooo different in Europe.
‚Moving costs’ - absolutely ridiculous - do it yourself!
I bought a house 5 years ago for 125k€. Was paying 550€ mortgage - if I would be renting it I would be paying around 1-1,5k€. Now sold it for 225k€.
100k€ + 5 years of saving almost 1k€… do the math yourself.
I don’t think I could get better deal.
I bought a home 28 years ago for $150k, $560 a month mortgage. Yeah, I've made some "principle only" payments, but most of my excess earnings went to medical costs, travel (you have to have a few good memories in life) and savings. If I were to rent my home today it would cost around $3,000 a month. No regrets.
Indeed, Europe is an other story. We pay lots of taxes in Belgium, but when you got injured or ill. They got your back.
Not all Europe,are you kidding me? I live in Cyprus, it's impossible to buy a house.
:-) same here. bought a house 12 years ago. sold it now for almost twice the price. bought for 360k, sold for 650k+. now i can work half the week, still earn 2500+ net / month. just have a small flat. but i can go hiking half a day. means the world for me. 48 years old, still have no car, no e-bike, dont need to fly around the world. from the materalistic point of view, i am poor. :-)
@HansRosenthal1 uhm, 12 years ago. Things have changed. Who can buy a house in Europe for 650k. Are you kidding me? Only rich people from Russia and Israel.
I've been looking into cryptocurrency investments, but I'm still unsure about the best and safest way to go about it. Any advice or insights you could share?
Talking to an expert like Maren Hilda Authurs to reshape your portfolio is a very smart move.
Who's she please
Maren Hilda Authurs is a highly sought out advisor who I found on a CNBC interview where she was featured, she understands the job perfectly. I recommend her
Maren Hilda Authurs is actually the one that guides me. I think the wisest thing that should be on every individual's list is to invest in different stream of income. I'm earning more this year because I have been investing while working at the same time.
So you know her too. I agree with you. I've seen amazing results since I started learning from the expert you just mentioned. She really knows how to break down complex strategies into simple steps. Definitely worth considering.
Love this Jaspreet's driving force. It really resonated with me. The saying "You can't beat the, join them." comes to mind - I flip it on the head for a reframe ... "You can't join them, beat them!!!"
I have enjoyed Jaspreet on RUclips for a long time !! Thanks for having him on !!!
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Shellane Maxwell
I'm surprised that you just mentioned and recommended Shellane Maxwell, I met her at a conference in 2019 and we have been working together ever since.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
Oh, do you happen to know her too? I'm proud to say I've also benefited from her platform
Archieving a weekly profit of 45k
She also helped me create a savings strategy that allowed me to set aside an additional $10000 a month. Now, I feel confident that I can retire five years earlier than I originally planned. If you're serious about securing your financial future, Shellane Maxwell is the one to talk to!
The guests keep getting better and better every single episode-so much wisdom shared here! Jaspreet Singh's insights on money are pure gold. This is the kind of advice that can genuinely change lives if applied. 🚀"
Thank you for this very insightful video. This was the best Jaspreet Singh interview I ever watched. Thanks a lot for sharing the insights.
This is so timely... I've been playing so small and after hearing this I feel a greater confidence to tackle the issues I have with money and overcome them. I'm excited and ready to make the much needed Sacrifices to change my life and my families life. Thank you both💛
Oo I’ve been following Jaspreet for a few years now - look forward to this one!
Are you wealthy?
If you passed down a one-million-dollar house and your children couldn’t afford to keep it, there was another option besides selling it. They could rent it out, and the rental payments could cover maintenance, taxes, and even provide some profit.
How are they going to ensure they will have someone who can rent the house until it is paid off? Constantly finding new tenants to pay that kind of money has to be crazy when you can't afford the possible consequences of not being able to find a renter.
Renting can very tricky. You will often get tenants who don't pay rent and the eviction is a long and expensive process. Being a landlord is usually more trouble than it's worth.
@@monacoofthebluepacific2571 This will vary depends on the renter's demographic (and the demographic your property appeals to), the area the property is in, relevant landlord/tenant laws, etc. Don't expect to be hands-free when you're a landlord though, just like any other investment they're not meant to be set-and-forget. You can, however, delegate the responsibility to a real estate agent or a hedge fund manager. Just make sure you read all the contracts, obligations and understand what you're signing (you may decide to consult a lawyer for your first one, you'll get better at it the more contracts you signed).
@@monacoofthebluepacific2571there is rent insurance so if your tenant doesn't pay you can make a claim
First world problem! Are you serious guys??
Living cheaply, and not being afraid to look poor is how I have wealth today. I drove my 1998 Saturn SL for 11 years, even after getting a job as an engineer. My coworkers would often comment, “Do we even pay you?!” “Do you work for free?!”
Then I finally saved up enough to buy a house, but I rented the 3 other rooms and made sure to be able to profit on the mortgage if I moved out. Mortgage Total/Rooms had to be less than $750 room. I now own 3 houses and it’s because I minimized the $ going out (buying used everything and not having any payments on anything) and maximized the $ coming in (side businesses like doggy sitting, doggy walking, renting kayaks and SUPs, etc).
I had a great job in IT making great money!
I purchased 3 brand new vehicles with price tags I’m to embarrassed to say😖
Wow! I lived and learned!
Now I rather learn and live!
We always have it backwards 🙏🏽🌹
Amazing guest jaspreet is explaining how to truly build wealth. Thank you for bringing him on and the episode
A very educative discussion. Thanks for your effort, much appreciated.
In Switzerland you can only buy a house with 20% down-payment. And if you want to own the property as an asset and rent, then it's even 25%. Majority doesn't own houses/apartments here.
I have family in Switzerland and all of them rent.There is not the stupid competition with buying.I think rents are regulated by government that why housing market is for living not for business.Germany are the same
Here in Canada most banks require 20% down to borrow the rest for a mortgage. Some banks even ask for 35%. To own an old one bedroom apartment is 150k minimum. Where in some states in the USA you can get 3 bed room houses for the same amount.
All I know is that if you rent, you are held hostage by a rent price that you cannot control, circumstances that could see your home sold out from beneath you. If you rent, never assume you are in your forever home. You could be asked to leave at anytime. I will be in my fifties, mortgage free. Yes, I pay property taxes and upkeep but for the square footage and freedom, there is no comparison to if I paid rent. Rents have gone crazy in many cities. Not everybody is good at investing or starting a business. In fact after rent, food, clothing etc….many don’t have a penny left over to save in today’s economy. Owning versus renting is an individual thing.
This guy made a lot of strawman arguments- not at all convincing.
Property taxes and insurance increase every year so it’s not a fixed price to own a home. Plus if something breaks you’re responsible for it.
@@ClassyLB Agreed. Those are priced into renting. Especially housing costs are tremendous if you live with a woman, who has to update everything in the kitchen and bathrooms every 5 years.
I scrimped and saved from 10 years old to buy my first house at 22 that needed lots of redecorating. Flipped houses for 8 years. Downsized at 30 to be mortgage free and now the money i save from that goes into s&p500 for early retirement. It can work if you do it right and work hard for it. Harder to do today though I bet.
This is a great Guest to have . Thank you for inviting him for your show we learned lot . This is must we all need to know - money matters in nutshell.
Thank you .
Very wonderful and deep closing remarks from the host. Thanks Jaspreet as well for your valuable insights.
Isn't the reason money can be made in stocks/real estate because not everyone is doing it. If everyone does it surely the earning potential drops.
No, money moves and that's when profits are realised. The idea that it needs to be an exclusive simply isn't true. Every person that works in the EU is participating in the stock market. If you were right, no one would make money.
Yes.. it is middle bracket who can afford more than a rental whom make a rental
@ddevulders I'm looking at this as a complete man on the street trying to apply logic, I could be completely wrong. So let's say every teenager in the last year of school is taught ecomics, investing, etc thoroughly, they decide I'm not going to waste money on going out, buying unnecessary goods etc, instead they try to accrue capitol to invest and attain assets. Now, a country's economy is in a slump, and no one wants to work for a business because everyone is trying to be the owner of a business. So everyone is trying to be top dog with no workers for any enterprises. All these investment gurus, imo work on the premise that a majority of the population doesn't do what they say.
Also there wouldn't be enough real estate for everyone to purchase a home to rent out, competition of everyone competing for the land/property would drive prices sky high, which would only allow the more well off to purchase said land.
I always say "anybody can be rich , but not everybody can be rich"
It just doesn't work that way if we all became investment and business gurus , who's going to wait tables , pick up the trash ,cook food etc... That's why I've always believed every job in an economy is important and people deserve livable wages and good working conditions , expecting everyone to invest and be successful is simply stupid and unrealistic.
You just reminded me of the joke "Everyone is working in recruitment as there are no jobs".
Owning land is freedom. It doesn't take an educated person or a doctor to understand who is buying up all the wealth.
The biggest lie sold to men is mortgage. When people say I 'bought' my house when in fact you haven't. As soon as you stop paying your mortgage, the bank will take the house back. Also, the interest kills you. But I'd advise people to Google the definition of mortgage. It literally means, pledging to your death. If you wanna buy a house, you pay in full and if you cant afford it, leave it.
Mortgage = la gage de mort en français 😅…. Yep beautiful system 😤
Yep; just look at this comment section. It’s almost impossible to convince people over wise.
They should say, "I put a down payment on a house". Cuz its not truly bought if you are still paying on it.
Even when it's paid off it's not yours. Stop paying taxes and see what happens. I will never again pay off a house. That lump sum of cash would be better served elsewhere
I’m 40 and am already collecting my pension for over a year now. I Joined the military at 18 weeks after 9/11. Bought 2 houses on the VA loan and currently rent out a 4-plex I bought using my VA loan.
I love this episode and it could not have come at a better time!
I’m a single parent, a college student and an employee - looking for financial guidance and preparing for my mission.
I looked to purchase the journal however with shipping costs it’s $75 usd which is outside of my current budget. Is am unsure how long it will be available, are you able to add afterpay for partial payments? Thank you for all of you’re free knowledge 🙏
You work for 42yrs to have $2m in your retirement, Meanwhile some people are putting just $20k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Well explained thank you for bringing up this video Financial education is indeed required for more than 80% of the society in the country as very few are literate on the subject. The value of the US🇺🇸dollar is declining due to inflation, but it is increasing in comparison to other currencies and commodities such as gold and real estate. I'm worried that rising inflation will cause my 550k in my retirement funds to lose value, But with the help of Mrs Maria I hit 220k this week from my investment of 45k, I am truly grateful for all the knowledge and nuggets you have given me over the past few months.
Maria davis program is widely available online..
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
I'm glad to write her today I do hope she will help handle my paycheck properly
Can I start with as low as $1000
Go Jaspreet! I have been following you since your early days on Minority Mindset. I have told my family and friends to watch your videos.
Glad to see you are on the fantastic Diary of a CEO podcast!