Motivation Daily by Motiversity - Jaspreet Singh 2022 - The Speech That Broke The Internet!!! KEEP THEM POOR!

Episode Date: August 17, 2022

Jaspreet Singh broke the internet in 2022 with this life changing speech. They don't want you to see this! This is why the poor stay poor and the rich get richer!►Special thanks to:Lewis Howes: https://www.youtube.com/watch?v=xbSYHrl9eTY&ab_channel=LewisHowesTom Bilyeu: http://bit.ly/ImpactQuotes"You have to be willing to go out of your way to learn this information. It's not how much money you make. 50% of households that make 250k+ a year have no savings,. It's what you do with what you make." - Jaspreet SinghSpeaker:Jaspreet Singhhttps://theminoritymindset.com/Music:Audiojungle 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. And this is where the rich will become richer. The poor will become poorer. And the middle class will get wiped out. Most of us, myself included, are never taught a thing. A thing about money. We're told, go to school, get a degree, get a job, and now you figure it out.

And then what happens for the majority of people is you end up broke. You end up struggling financially and you can never figure out why. Rich people will understand money and they will continue teaching the kids and everybody else, the majority of people who have no idea of what's happening will continue to become poorer because they don't even see it happen. High school, I went through college, I went through one year of grad school and then I went through law school and I never once learn to think about money. When more money gets produced, it effectively reduces the value of each individual dollar.

But this is where rich get rich and the poor get poorer because as the value of the dollars drop, what happens. For regular people, your salary doesn't stretch as far. Your savings don't buy you as much. And so you're effectively becoming poorer each and every day because for most of us, we're taught to save our money. And your savings are becoming less valuable each and every day. Well, what wealthy people do is they're not storing cash. They're buying assets. And, you know, it's all a game. And this is what wealthy people understand. It's all a game. Anything is possible. If you live in America, you speak English. you have more opportunities than really anybody else in the world. People would literally risk their lives.

Risk their lives to come to this country because there's opportunity here. So my parents came to this country with next to nothing. So I got nothing to lose and everything to gain, right? And so this is the place where that opportunity exists, but now you have to be willing to work hard. But you also have to be willing to work smart. You have to do both. Because if you're not willing to work hard,

your smart working is effectively worthless. You have to be willing to apply both together. And I had none of this financial education. Your salary, hey, you got a raise, but you're actually broker now than you were before the raise because your raise isn't keeping up with inflation. As you start to go down deeper and deeper down the rabbit hole, you start to realize, oh my God, everything that I've been told is a lot. As I was studying, I started reading other business books and financial books, and I remember this. I was in the library studying, and I went on to Google, and I searched the richest people in America. And you see people like, Steve Jobs, Warren Buffett, Bill Gates, Mark Zuckerberg.

And I was like, huh, none of these people are doctors. None of these people went down that traditional route of getting a degree, doing a good job. Am I missing something? Because I thought that if you go to school, get a good degree, you can make a lot of money. And if you work harder in school, get better grades, you'll make even more money. So I thought it was just directly correlated. your grades, your income. And that's when I started questioning things.

And I realized, oh, maybe this isn't right. And so that kind of pushed me into this whole painful, emotional journey of learning about money, learning about entrepreneurship, learning about what does it mean to become wealthy and how do you actually do it? So that was kind of the initial phase for me. And then I had to go out and actually start learning. The government can't just spend money without somebody paying for it. They have to generate the tax dollars. don't pay it through tax dollars, somebody's still going to have to pay a tax.

And inflation now is a hidden tax. It's a silent tax. It affects the people who don't understand money, and it disproportionately affects the poor and the financially uneducated. And this is why financial education is so important, is because if you don't understand this, you are going to get screwed over by the system. Because now, guess what, your gas is going to be more expensive, your groceries are going to be more expensive, your home cost is going to be more expensive. The cost to do anything is going to cost you so much more today next year.

the year after that, well, your salary, hey, you got a raise, but you're actually broker now than you were before the raise because your raise isn't keeping up with inflation. And so that's where you have to be willing to go out of your way to learn how some of these things work, because if you don't, you're just going to be a pawn in this system. And it's very unfortunate. It sucks. And this is where I'm trying to help provide that education because these are things I never grew up learning.

These are things that I wish somebody would have told me seven out of ten Americans across the border living paycheck to paycheck. 50% of Americans that are making $250,000 a year are living paycheck, their paycheck. That's crazy. It's not how much money you make. It's what you do with the money you make that is so important. And so now, if you have a buffer, you're already better than the majority of people. Now the question is, what do you do with it?

Well, we're taught save it. Save all of it. So your investments are zero and your savings, you're trying to grow, they're thinking that you're going to become wealthy. But you're never going to be able to out-save inflation. your savings are literally making you poorer each and every day. However, you don't want to just not save any money. You got to be strategic with it.

What I like to say is there are three reasons why you should be saving money. You save money for an emergency, have somewhere between three to 12 months worth of expenses, depending on your risk tolerance. Save money for a big purchase. You want to buy a car. You want to buy a house. You need some cash to do that. Save money for an investment.

If you're not saving money for one of these three reasons, you are saving your money the wrong way and it's making. you poorer each and every day. Now, you didn't say save for retirement. You invest for retirement. The psychology of investing is just as, if not more important, than the actual how-toes of investing. So that's from money and five places.

Real estate, stocks, startups, cryptocurrency, and physical gold. But in the stock market particularly, it is a liquid investment, meaning you can easily buy, you can easily sell. And that's what becomes a big psychological game, because every day people are watching that ticker. What's Tesla doing today? Tesla's up $2, Tesla's down $4. And it can really drain you.

So the first thing is you have to understand that your psychology is important. What I do is I understand I'm not a trader. I don't trade, I don't flip. I have two strategies when it comes to investing my money. I have an active strategy and I have a passive strategy. I'll start with a passive strategy because that's easy to understand. Every month, I passively invest my money into stocks, physical, gold and cryptocurrency.

And so what that means is it's automatic, low-cost ETFs. And I have ETFs to give me exposure to the S&P 500. That's kind of your safe, your value. S&P 500 are the biggest 500 companies in the stock market. So that's the kind of the safe value play. I have some ETFs that gave me exposure to innovation, startups, growth, because I like that space. Much more risky, but you could see more potential upside.

Risk means you could also see more downside. And then I also have ETFs that give me exposure to emerging, These are countries that are overseas, countries like China, India, Korea, Brazil, countries that are up and coming to give you some diversification, not just in companies, but also in dollars. And then I have my cryptocurrencies. Now, I'm mainly in Bitcoin. I have some Ethereum and a couple other coins, but mainly Bitcoin and every day I buy a little bit of cryptocurrency. Again, I know it's volatile. I know you can see big swings up, big swings down. I don't care. I'm buying it every single day. So that's my passive strategy where it doesn't matter what's going on in the market.

I'm just going to keep buying no matter what's going on. Then my active strategy is now where I do more of the fundamental analysis where I understand where am I actually investing my money. So this requires much more time and more effort on my end. So on the real estate side, I'm looking for deals that are paying me that 7% cash on cash return. And so I'm going to be analyzing the numbers, looking through properties, walk through a lot of deals. when I find something, I will go out and buy it. In the stock market, really similar, I'm looking for companies that I believe in,

that I believe are good fundamentally. Fundamentally means looking at the numbers, right? What do the revenues look like? Have the revenues been growing? How fast are they growing? 10% a year, 20% a year? What about the profits? But you also have to look a little bit deeper than just the profits

because you want to see what's going on with the expenses. Where are they investing? Are there expenses going up because the cost of business is becoming more expensive? Or are the expenses rising because, they're investing more in their company. So you've got to do a little bit of digging in there. And then in startups, obviously I invest in my own companies. But I also invest in startup companies.

I love entrepreneurship. I am a huge fan of entrepreneurs. I love supporting other entrepreneurs because I never had that support when I was getting started as an entrepreneur. So one of the ways I can provide the support is through money, through investing in some of these entrepreneurs. So I invest in these startups. Fourth, cryptocurrency.

If a big cryptocurrency crash happens, Well, I already know what I want to own. I'll just come in and buy more. And with gold, I don't really actively buy gold, but that's the four ways that are actively invests my money. Sure.