Motivation Daily by Motiversity - "I Got RICH When I Understood THIS" - Jaspreet Singh’s Secrets To Wealth

Episode Date: March 8, 2023

Jaspreet Singh, the Minority Mindset, is an attorney, investor, and CEO of Market Briefs,. In this episode he shares how anyone can get rich.Subscribe to the Motiversity Show for the full interview we did with Jaspreet! - https://bit.ly/MotShowSpeakerJaspreet SinghJaspreet “The Minority Mindset” Singh is a serial entrepreneur and licensed attorney on a mission to spread financial education. His YouTube Channel has over one million subscribers. Although he didn’t receive any formal financial education – he’s on a mission to make financial education fun and accessible.Follow:https://theminoritymindset.com/https://www.youtube.com/minoritymindsethttps://www.instagram.com/minoritymin...Music:Epidemic Sound Hosted on Acast. See acast.com/privacy for more information.

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New episodes are being released every week. The link is in the description. Wealth is mindset before it hits your bank account. When it comes to the differences between the rich and the poor, it doesn't start with how much money you make. It doesn't start with what degree you have. It doesn't start with who your parents are. It doesn't start with what background you have.

It starts with what mindset you have. And this is really, the root of wealth. How is it that some people can become so incredibly wealthy while the majority people don't? It's not that they have some special superpower. It's not that they own some special skill. It's not that they're so much smarter than people. It's not that they work so much harder. It's that they believe that they can and then they use their time differently. If you go about life and you say, the government's the reason why I'm broke, my greedy corporation is the reason why I'm stuck at a job that I hate. I can't change my life because of

X, Y, and Z. You keep pointing your fingers as to why you can't succeed. Well, it's going to be impossible for you to succeed. The best return that I got on my investment isn't the real estate investments. It's not the stock market investments that I made. It's not the startup investments that I made in myself. Number one, hustle. Number two, try to spend as little money as possible until you make money. Entrepreneurship is hard. You got to work a lot. And in the early days, I mean, I was working around the clock, seven days a week, never took a vacation, never spent money. I mean, you got to be willing to work. And understanding that it takes time, I say a decade of sacrifice, if you really want to see success in business, there's a lot of people on the internet selling this

crap that you can do it in six months. Yeah, you can do it in six months if you put in the decade of learning how it works. But you can't bypass. that effort of learning, that effort of going through the mistakes, that effort of everything. Yeah, education can shorten that time, but you can't bypass all that effort. Building a business takes a lot of effort, a lot of time, and a lot of work. Investments that I put into my own financial education have paid off many, many, many, many, many times over, and you can't see those returns anywhere else. You know, they say that the best investment you can make is in you.

I would recommend that you go out and start by reading 25 books. Find the top 25 books in financial education and read them. Find the top five bucks in money management and investing. The top five books in starting a business. The top five books in scaling a business. The top five books in managing a business and the top five books of entrepreneur biographies. And it doesn't matter which ones you pick. Find the ones with the highest ratings,

the highest reviews, and just read them. This is going to cost you less than $500. But when you do that, you're going to be able to get an MBA-level education without paying the price of an MBA. And you're going to look at the world, your money, and the way you use your money, completely differently, once you finish these books. If you go around saying, I can't have that nice thing because I'm broke,

I can't have the nice thing because I grew up in a bad environment, I can never become successful because of the way I look, I can never do it because of whatever, I can guarantee you are never going to become successful. But if we turn this around and you say, huh, how can I become successful? How can I make more money? How can I become wealthy? How can I get out of the situation that I'm in? Now your brain looks at problems completely differently because of now you're not complaining about the problem,

but you're trying to find a solution to the problem. And that's the biggest difference between somebody who becomes wealthy and somebody who does not. It starts with the mindset because then once you change the mindset, you're going to start changing your actions. Now you're going to find out, oh, I don't need to spend money at Gucci. Oh, I don't need to go out and eat every single day. Oh, I can save money here. Oh, I can ask for a raise at my job. Oh, maybe I can start a side hustle.

Or maybe I can start my own business. Oh, you mean I could actually potentially take my income from my job? $40,000 a year to $400,000 a year, that's possible because when most people hear that, you think it's impossible. Somebody like me could never go from $40,000 to $400,000 a year, but until you believe it's possible, you're never going to put in the action to actually make it possible. We're all given 24 hours in a day. So the difference between somebody who becomes successful versus somebody who does not is now what input you put in those 24 hours. If you're spending your time on Netflix, if you're spending a time playing video games,

if you're spending all of the time doing things that don't add any value financially to your life, well, if you compare that to somebody who's now working, who's now learning, who's investing in the education, you're going to see two completely different outputs. Now this is where you don't want to get into the trap of just thinking, you know what, I'm just going to work really hard. I'm going to work 20 hours a day because, well, you can work really hard and still be broke. Now the question is, how can you make your hard work the most scalable? Because that's now what will take you from, okay, I don't want to be broke.

So now you start working hard, which is great. I 100% recommend working hard because without that hard work is going to be impossible for you to see any real level of success. But now you're working hard. The next question is, how can you make your hard work the most rewarding? What can you do to make that hard work You be the biggest dividends and the highest returns? And this is where people say work smart. You know, some people say work smart, don't work hard.

I think that's a bunch of crap. I think you need to work smart and work hard. They go hand in hand because that hard work is going to allow you to scale your smart work, but you now have to understand, okay, I want to become more financially successful. So now how do I do that? What is the financial education?

What am I working for? When I make more money, what am I going to do with this money? Where am I going to invest it? How am I earning this money? What can I do in terms of taxes to protect my wealth? What can I do with my investments to scale them? What can I do to build an asset? What can I do to build a business?

What can I do to scale the assets that I do own? So now you start asking these questions. And I know this is getting very deep in some of these topics. But it all starts with that mindset of believing that is possible for you. Because if you don't believe it's possible for you, you're right. But if you believe it's possible for you, you're also right. And whatever your belief is is going to change what output you take. You got to work hard, man.

You know, I don't recommend what I do to anybody. But when I started, I had people I needed to prove wrong. I had the whole world telling me that I could never be an entrepreneur. I had everybody telling me that I was dumb for trying to leave the comfort of trying to be a doctor. I had the whole world telling me that I was throwing every sacrifice my parents made for me away. So I had to work because I knew I didn't want to let that be reality. And I worked 20-hour days, seven days a week. That meant I was sleeping four hours a night consistently.

I mean, it's a grind, a real grind you have to go through. And everyone's different. I can't do that same four hours of sleep in the night now. I need more sleep, I need more rest. That's why I don't tell people what to do, but you got to be willing to put in the work that nobody else does. Because if you're not willing to do that, you're going to be outworked, and you're going to get beat.

And business, it's a war, man. Everyone's out there trying to beat you. And if you're not willing to put in the work, then someone else is going to come in and they're going to beat you.