The School of Greatness - If You Want To Become Rich, Take These Steps w/ Jaspreet Singh EP 1301

Episode Date: August 3, 2022

Jaspreet Singh, the Minority Mindset, is an attorney, investor, and CEO of Market Briefs. Although he didn't receive any formal financial education - he is on a mission to make financial education fun and accessible. He's back on the show to share his thoughts about the current economic situation and help educate people on their best course of action moving forward.In this episode you will learn:The difference between working hard and working smart.To truly understand how money plays a part in our lives.The ‘Rule of 5’ when it comes to buying liabilities.Why you should be investing in yourself.For more, go to lewishowes.com/1301Click below to hear Jaspreet’s previous episodesMoney Habits To Prepare Against Inflation, Market Crashes & A Recession - EP 1283The Biggest Lies You've Been Told About Money, Debt & Building Wealth - EP 1257How To Prepare For Financial Freedom In A Changing Economy - EP 1254

And there's nothing wrong with spending money. There's nothing wrong with having luxuries. There's nothing wrong with having the nice things. But it's a matter of when can you actually afford it. Welcome to the School of Greatness. My name is Lewis Howes, a former pro athlete turned lifestyle entrepreneur. And each week we bring you an inspiring person or message

to help you discover how to unlock your inner greatness. Thanks for spending some time with me today. Now let the class begin. What would you say if you saw someone now, say they're 20 or maybe they're 30 or whatever age doesn't matter, but they don't have a lot of money right now. Let's say they're just making a normal amount of money, right? But they have certain habits and behaviors and beliefs and thought processes that you witness.

And you could say, wow, if you follow these things, you have the ability to make a lot of money one day. What would be those behaviors or habits that would determine if someone has the ability to be rich the first thing is mindset that's why i call you know my channel me the minority mindset you have to believe is possible for you uh because if you don't believe it's possible for you you can have all the resources you can have all the drive but you'll never be able to because your mind is going to stop you your mind dictates your actions and so you first have to believe that somebody like you can do it from your mind is going to stop you. Your mind dictates your actions. And so you first have to believe that somebody like you can do it from your position and know that, hey,

I will do whatever it takes. Now, if you have the mindset, then you have that, I will do whatever it takes, that discipline, and then the willing to learn, nothing can stop you. So the discipline means that you're willing to put in work. You know, a lot of people say, don't work hard, work smart. And I think this is a whole bunch of crap. You can work as smart as you want, but if you're not willing to work hard, you're going to very much limit your success and limit everything in your life. You have to be willing to work hard. I don't know anyone that didn't put in a lot of hard work for a period of time until they learned how to manage and delegate and optimize with resources and skill and time to work smarter.

100%. But they had to work hard at some point. In order to get there. Once you get there, now you can scale back and now you can reap the fruits of your labor, but you have to be willing to bring the work, the hard work. You got to make the flywheel turn. You got to.

And your hard work makes your smart work even more effective. Key. And then your discipline then is is it's just like anything else It's being willing to stick with it when things go wrong and when things get hard because things will go wrong Things will get hard. I made a video on my youtube channel talking about my worst real estate deal ever. I Had this running joke with my friends that anytime I start something new I get scammed I get screwed over and it is extremely difficult every time it happens because from the event planning business, I got screwed over multiple times. And then the beginning, it was just a complete flop.

I mean, it's just things, everything went wrong. I was supposed to host my party at a venue, planned it for months. The night before the event, it got shut down by the cops because they were apparently serving to underage people it just lost oh man and this is my first event everything just goes wrong then you know I started my sock company I got scammed by a fake marketing company as soon as I started I started minority mindset when I started my I started for a little bit I was trying to hustle and I was selling stuff on eBay and Amazon. Me and my buddy, we found this supplier in China

who was sending us authentic items that we were going to sell online. We were young, and we were selling it. We were making decent money. And then we get a letter saying, you're not selling authentic stuff, Rick. We will potentially sue you for $7 million. Oh, man, that's scary. I'm not even 20 years old.

You know, I don't even, like old you know i like i don't even like seven million dollars i can't even count that many digits what i mean so it's like and i had to shut that down so it's it's tough yes you know you talked about last time you're getting punched in the mouth you have to be willing to get back up and you know how do you prepare for that maybe go and get punched go to to a boxing class. Get uncomfortable. Do something that works your auditory comfort zone, even if it's not directly correlated. I try to do that. I've joined a boxing gym here in California.

I'm not the best boxer just to get in shape. But, you know, you get uncomfortable. I joined my acting class. That was really uncomfortable for me because I'm like this kind of nerd. You know, I went to school. I was supposed to study hard in school and do all this stuff, and now here I am trying to figure things out, edit and fit in.

But I made friends. Everybody's so friendly, and you get to meet more people, and you put yourself out of that comfort zone. And I think that will help you in other places as well. So it's not always finances. We talk about this where we live a human life. It's not just my bank account.

It's I'm a human first. A bank account is one aspect of my life. And you have to be able to live as a human. That way you can actually enjoy your bank account. Absolutely. Right? I mean, you can have a million dollars, $10 million if you're miserable.

Who cares? Exactly. So you talked about the right mindset, the right discipline. The third thing was? The right mindset, the right discipline, and the right work ethic. So the willingness to learn. You have to be willing to learn.

And if you're not willing to learn, you're not going to be willing to grow. Because you have to be willing to challenge your beliefs. And I think that became significantly easier for me once I started learning about money. Because I realized everything I was told was wrong about money, from loans to banks to schools to your job to investing, when I realized that everything that I was told was wrong, that's when I started, well, I was like, man, I don't think I know anything right.

So it was very easy for me to start learning and listening to contradictory points of view. But you really have to be willing to listen to things that don't agree with one another. And that's in the middle is where you find intellect. That's where you find where your best education comes. And so like, you know, if you listen to like my, I listen to audio books. I'm not a very good reader. English is my second language, right?

So I'm not the best reader, but I listen to audio books. And it's funny because I have like books that will completely contradict one another just so I can learn from different points of view. Like I read Donald Trump's book and then I read Barack Obama's book. I read the Communist Manifesto, I read the Capitalist Manifesto.

You read books that are completely opposite. That way you can explore different points of view and understand and solidify your thoughts and just be more educated. Because otherwise if we grow up with just one belief the entire time and we don't see another side of something or another extreme potentially, then we're always going to think life is that specific way as opposed to being open to seeing what other people think about. Whether we agree with it or not, just learn. And it's so much more important now because of social media. And I mean, I know you know this,

but you go on Facebook, Instagram, YouTube, anything. If you start watching one type of content, what are they going to do? They're going to feed you more and more of that exact same thing. And then all of a sudden, you go down this rabbit hole where you think everybody thinks like you.

Anybody who doesn't think like you is wrong. They must be dumb. They have no idea what they're talking about. But you have to. I mean, it's so much harder now, which is why it's so much more important, but you have to be willing to break out of this hole and start learning something else and be willing to challenge your own beliefs. And that's where you will become smarter and you'll find more opportunity and you'll solidify your own beliefs on whatever it is that you believe in. Absolutely. Those are good habits. What would you say are the three biggest myths

about money that you've debunked over your time of learning about money that maybe you grew up thinking it was one way, like you were talking about loans and banks and all these different things. What are three myths about money that you've found out were not true? The first thing that I would say,

I don't know if it's a myth, but I would say that the first thing everyone has to understand is what money is. And I don't mean in terms of wealth, but money is just paper. It doesn't make you a good person. It doesn't make you a bad person. It's just paper. And we talk about all these insecurities people have with money.

I grew up being told, don't talk about money. Don't worry about money. Don't stress about money. Yeah, here I am seeing my parents work their butt off every single day. Trying to with money. I grew up being told, don't talk about money. Don't worry about money. Don't stress about money. Yeah, here I am seeing my parents work their butt off every single day. So- Trying to make money. Trying to make money.

And it doesn't make sense. How am I supposed to not worry about money? And you want me to become a doctor because you read those, if you go to those career fairs, they show you the different careers, right? And doctor is always number one, the highest income. So why am I doing this if it's because of the income

instead of because I love it or do something that I love? Why not? Because I want to help people. Yeah. You want to save lives. Exactly. And what's crazy is if you understand money, you become financially educated, you're willing to talk about it. Well, now you can be financially stable doing whatever you want and you can follow something you love and still be financially okay. Because we assume that you have to have this in order to make money. You have to have this job in order to make good money. You have to have this career if you want to be financially stable. But that's a complete lie.

But that goes down to not us being willing to talk about money. And I talked about this in our last interview. But money is one part of our lives. And the reason why people are scared to talk about it is because we're insecure about it. And that's because we don't understand how money plays a part in our lives. It's one aspect. I say that there's four. You have to be physically healthy, mentally healthy, spiritually healthy, and then financially healthy. If you're not financially healthy, well, it can make everything else much more miserable because you can't pay your bills. But if you're financially healthy,

you're rich, but you have nothing else, more money just makes you more miserable. So you need to live a holistic life and understand how money plays a part in your life. That way, the finances can have the biggest power. And then you understand that more money just amplifies who you are. It's like fire. It's like fuel. It fuels your fire. If you're a good person and you have more money, you have a tool to do more good.

If you're a bad person and you have more money, you have a tool to do more bad. Just why we need more good people with money. How do we do that? Get educated. A lot of people just say that money exposes who you really are. It amplifies who you are so people can see whether you're that good person or bad person or whatever it may be in between. But first off, understanding what money is yeah is what you had to learn yeah I don't like this this thing what else around understanding it would you say so the next thought it was one thing but then you realized it was something exactly so you sit down now that's money the second thing is how do you use money and value money because I'm gonna say this in the nicest way possible but

traditionally Indian people can be very cheap. And, you know, I grew up seeing this. And what does that mean? It means that the traditional Indian house is a save-heavy culture. And I can say that because I've seen this and I grew up in that where you make a dollar to spend 20 cents. And the traditional American culture is you make a dollar to spend $2, right? And so it's a save-heavy culture. So you're spending as little money as possible to save it. Now, obviously, we talked about inflation.

So I'm not going to mention what that means with savings. But what I'm talking about here is you can use your money as a tool. And this is what wealthy people do because now what do they do with their money? You use your money to buy your time back. Because what so many of us do is we're exchanging our hours for dollars. You go to work every single day and you get paid. But what are wealthy people doing? They're not working just to use their money

as a way to buy hours. They're using their money to buy their time back. Yes. Because now you can build things and build processes and invest your money because now you can use your money as a tool instead of as a fool. That's what I like to say.

But this is where it's how do you now use your money to make your life better? And you don't want to be now just buying a whole bunch of Gucci and Louis Vuitton. It's now actually improving your life. Not to make your life look better, but to actually improve it from the inside out.

Yeah. So the simplest example would be you start a youtube channel we talked about buying a camera well one thing that you could do is you can hire a video editor you know you go on a freelance site hire a freelance video editor and now what are you doing you can spend more time making more videos instead of spend all your time editing the content so you can focus on your time you can hire someone to mow the lawn you bought your time back you hire somebody to help get you your groceries you buy your time back it costs money you have to spend money in order to do that but you're getting something in an exchange and now

you're buying your time back so you can use your money as a tool and you can use your money as a tool to buy your time back or you can use your money as a tool to make you and attract you more money that's what wealthy people do and so you want to be able to use money in that way. The third thing would be now to really, I mean, I know I talk about this a lot, but you have to understand the difference between something that makes you money and something that loses you money.

And that's a liability, yeah. A liability. What are the main liabilities that people spend on today? The way you look, man. We have this Instagram flex culture, right? And it is very toxic if you do not know how to use it. And unless you're investing your money wisely and you've got excess money and you're like, okay, I want to buy some stuff to flex.

Cool. But if you're not investing your money and you're just spending it on clothes and watches and shoes to look good. If you got the name brand stuff, but you got no savings, you got no investments, you're doing something wrong. Your priority is in the wrong place. What are you doing? You're making Gucci rich. You're making Louis Vuitton rich. You're making all these companies rich, but you're keeping yourself broke.

I talked about my watch. I spent a grand on a watch. I had no investments. I don't even know what an investment was at the time. I didn't realize I could have taken that grand and invested it into a watch company and get a share of the profits. But that's how wealthy people are doing and they understand that. And there's nothing wrong with spending money. There's nothing wrong with having luxuries. There's nothing wrong with having the nice things. But it's a matter of when can you

actually afford it. You have to know when the right time is for you to have it because you want to first make yourself rich and then, hey, blow. If you can afford it, do whatever you want. Grant Cardone was always talking about how he doesn't spend money on the cash he makes to buy watches or things. He only spends money on the watches and clothes and things on the passive income. That's great. From his investments. You take the earned income, you're working every single day.

You take this income and you use as much of that as possible to invest into assets. The assets pay you, live off of the assets because now those assets don't need you to go to work every single day to get paid. So if you break your leg and you can't get paid, you're not getting that earned income, but the passive income from your assets still coming in. And now if that's the money you're living off of, you are free. Your earned income is just buying you more assets. And so how do you start that, right? And so this is where you have to kind of build some sort of system for yourself. And the rule that I would always say is follow something like my rule of five.

If you can't buy five of them, you can't afford one of them. So, you know, you want to buy a $1,000 phone. You want to buy a $1,000 phone. You want to buy a $1,000 watch. Okay, fine. Can you buy five of them? And if you don't have the ability to buy five of them, if you can't afford to do that, then you can't afford one. If you can't buy five, you can't afford one.

And then you want to create a system, like a system that automates your finances where now you have something going on with your money that is putting your money to work no matter what. And so one of the easiest things you can create your own is to follow something like a 75-15-10 plan, which means that for every dollar you earn from now on, 75 cents is the maximum you can spend, 15 cents is the minimum you're investing, and 10 cents is the minimum that you're saving now the savings is you you want to build somewhere between three and 12 months worth of savings if you want to have

that protection three months if you're you don't have a lot of liability a lot of responsibilities you don't have all that going on and you have a high risk tolerance 12 months if you want to play it safe you figure out what's right for you after you filled your savings you fill up the savings you don't want to put any more money into it because I'm just being eaten away by inflation. The savings is not there to make you wealthy. It's there just to protect you against an emergency. Then what you do is you take the money, put it into your investments. And now you just keep investing money. Now what happens is as you grow your income, you don't change this ratio. So if you go from $40,000 a year to $400,000 a year,

you keep the same ratio and you're still investing first. And then you keep saving your money and then you know how much you can spend because now what you're doing, which is what wealthy people do is you invest before you spend. The way that the finances look for the majority of people is you make money, you pay taxes, you spend your money, and then you wonder where your money went. Well, wealthy people do, right? Wealthy people are, you make money. Especially in California. Yeah. $7 gas and high taxes. But what wealthy people are doing is you make money, and then depending on how you make it, either you pay taxes first or after, ideally after,

because there are ways to do that legally. But make money and then you want to invest as much as possible and then you spend whatever's left so wealthy people invest and spend what's left while the majority people spend and invest whatever's left here's one that i think a lot of people do and i think it hurts them in a big way how does someone not make their net worth attached to their self-worth? That's a good one. Meaning how do they believe in themselves, have confidence, have love for themselves when they're not making that much? Maybe they're in a transition. Maybe they lost their job.

Maybe they're just starting out. And how do they also, when they start making some cash, not tie their bank account number to their self-worth? So when you fail at something, you don't become a failure as a person. You fail at a task. And in order to become successful at something, you have to fail at a lot of tasks. And so the first thing you have to understand that about yourself is that just because something didn't work, just because you failed at something does not mean that you are a failure. Maybe you failed at a task. I failed at a ton of things. I'm sure you have to. You have to screw up a lot. And that's that you are a failure. Maybe you failed at a task. I failed at a ton of things.

I'm sure you have to. You have to screw up a lot. And that's how you find the good. So now when it comes to net worth, if you want to be completely honest, your net worth is pretty useless. It's a worthless number. It means nothing.

It means less than nothing. Because what is net worth? It's a paper number. If I have a million dollars net worth in the stock market today, tomorrow it could be worth $400,000. If you are valuing your life, and even worse, if you are spending based off your net worth, you're living a very dangerous life. And some people do do this because they say, oh, I'm worth a million dollars.

So I'm going to go out and live a million dollar lifestyle. You don't have a million dollars. You're just worth a million dollars. You don't have income coming in. You're just worth this amount of money. And so you go and borrow a ton of money and you start living this million dollar lifestyle and then things go down and now you're the first one to lose your shirt. So the thing that I want you to remember is first regarding the failure. You're not a failure. Just because you failed at a task does not mean you're a failure. It's actually a good thing you failed because that means you're one step closer to finding that

success. And then second, regarding the actual net worth number, look, this is just temporary. Everything is temporary and you have the opportunity to build something a lot bigger. You have to have the right mindset. And if you are here in America, you're in a first world country, you have the opportunity to do that, but you have to be willing to learn and be willing to give it time. So you have to be patient, but also impatient at the same time. Patient in the sense that you have to understand that get rich quick is majority of time a big scam. It doesn't work. It makes the people selling to get rich quick rich and you keep getting broke. So the first thing you have to understand is that. But then second is you want to be impatient where you got to, it's going to fuel that drive, fuel that work ethic, fuel that discipline.

And you have to be willing to keep going. You know, I don't, if you would have told me 15 years ago or 10 years ago, hey, man, you're going to be interviewing with Lewis on this show. I would never thought that's possible. Like, you know, I grew up being, somebody like me can't do this. I remember talking to my own family members, that you can never be a CEO of a company. Somebody like you can't do that. You have no business background.

You couldn't even get into business school. And it's funny, nowadays I'm like, well, there's a lot more value to be the owner of a company than the CEO of a company, because the CEO is working for the owner. But anything is possible. And even if you just ignore the financial side, you can do anything you want. You want to be a singer.

You want to be an actor. You want to be an entrepreneur. You want to be a CEO. You want to be whatever you want to do. It is possible, but you have to believe it and you have to be willing to put in that work. Hard work beats talent when talent doesn't work hard that is the truest saying that you can make because i have so you know i work in the worked in the event planning space i still know a lot of people in this place space i know a lot of people that manage singers big time singers

especially in the the indian space and some of these people are incredibly talented with no drive, no work ethic. And where are they going with their careers? They had this spike in the going down. I know these other people that are average singers, but they're putting out songs day after day after day. I mean, if you heard them sing, it's like, you know, it's whatever, but- You can produce it well.

You can make the hooks. You can write cool lyrics. You keep improving. And they keep putting out content and they keep improving every week. And it's like, dang, you got millions and millions and millions of views it's funny man i got a friend of mine i've had on the show um andy grammar who was literally in santa monica busking for four years five days a week four years playing songs for just tips on the streets they hustle right

but he i think he said he did he said he wrote over a thousand songs or something crazy like this in this four-year period. He would sing the covers to try to get people to come around and be like, oh, I like that song, let me give you a dollar. And then he would throw in one of his own original songs to try to get people like, oh, he guts his own stuff. But he did this for four years before he actually got something that was on the radio and then touring and all these other things.

Four years on the streets just working really hard. Now he's got momentum, but he's got all these skills now developing over those years to write his own songs. And I don't think people realize what four years means. Because you hear four years, oh, college is four years, high school is four years. But you've got to remember, during those four years, that's a long time you go from january february march april may do it again every day again and again and again steve harvey i love his story because he went through the same thing he was homeless because he was like i'm a janitor right

now i want to be a comedian my friend who i grew up with is now on TV. We both had the same dreams. I didn't want to say it. He got laughed at for his dreams. And now he's the one on TV living my dream. And I'm working as a janitor. Quit his job, moved into his car, and spent three years just trying to make it. Look at him. He's on shows after shows after shows. He's crushing it. It's that discipline, being willing to put in the work and just sticking with it. It's so hard. And that can help you with any, you know, forget the financial side. Doing something you love, living a purposeful life. Because what's important to you is not what's necessarily important to me.

And what's important to someone listening to this is going to be different than me. And we all have a different passion, a different purpose, and a different mission. And so someone's going to care about climate change. Someone's going to be different than me and we all have a different passion a different purpose and a different mission and so someone's gonna care about climate change someone's gonna change care about world hunger someone's gonna care about cancer in kids someone's gonna care about breast cancer someone's gonna care about financial education and so we all come at this world with different experiences different pains and each one of those pains are gonna drive our motivations but you have to you have to be willing

to work towards it because if you don't who else is going to drive our motivations. But you have to be willing to work towards it, because if you don't, who else is going to? And you have to be willing to do that if you want to make that impact. What would you say on a scale of one to 10, how much you love yourself today? 10 being you have ultimate love for yourself, not in an egotistical way. One being you hate yourself. Where would you be on the one to ten scale i think i mean i don't want to be like mean like like oh i'm like overly narcissistic but i love myself and i never asked myself that question because i don't think i was very fortunate that i never really had to struggle with happiness really no and and even when your parents were kind of talking the way that was tough it was tough but it never really made me unhappy.

Because I think why is I had a group of guys that I was friends with, a few DJ friends. And we were all kind of like almost like rebels. But we knew we weren't doing bad things. We wanted to become successful because no one sees our vision. So we all just kind of like we were friends. I had a really good community. And I think that really helped me because sometimes I would go sleep in their basement. I was like, man, this is like my mom told me this or my dad's not believing me.

And they were in the same boat as me. They're like, dude, I don't know what I'm going to do either. And look, all of us now are doing very well. And we joke around about that where it's like, man, I got a lot of trouble with my parents. I'm sleeping in your basement. Now you're coming to my basement. And so it was tough. But I had a lot of fun along the way man like

because so you never attached money to happiness never i think actually you know i'll i think more money actually maybe have reduced potential happiness really yeah and i think the reason why is because some things had happened in my life that I did not expect and I and I thought because we were all like we want to become successful but we love the journey like it was like we were having a great time but I think what happened was I had some like really tough realizations and I've never talked about this publicly but I'll do it now so when I was minority mindset was growing and I was like you know I'm gonna really build this now and we were getting close to 100,000 subscribers.

And we were going viral and it's like, wow, we made it. We were about to hit it. 100,000 is hard to do. That first 100,000 is really hard. And I was right about to hit it. And I come home and we're having dinner. And my dad, I knew something was wrong. And he looks at me and he says um

your mom has cancer and all of a sudden it's like forget the youtube channel forget the investment like forget it all like i was like are you serious i was like did you get a second opinion and uh um you know it was very tough and so the next week my mom's in the hospital operating room and it was the day after I had a hundred thousand subscribers the day after operation and it was like it was nice to see but it was like I like that I'm making an impact but honestly it doesn't even matter like them like I would give this up in a second to make sure my mom's yeah and just I think that that initial realization was like wow like there's there's there's so much more to

life than just money and and you know you can I think that's when I started develop that's when I developed the quadruped triangle the physical the mental the spiritual the financial because I was like I see I started writing my thoughts down I was like you know this is this is um you start to really place a value on different things absolutely and you start to realize okay I was been a lot of time in my work and yeah I still work a lot but you start to realize that you know I need to spend some time with my family I need to do certain things I need I need to make sure that I take care of myself and I

need to make sure I take care of my family and and those were you know my mom was okay she beat it it was It was great. It was amazing like like that was like the biggest relief but you learn from your struggles you learn from pain and That I think that realization probably was like you have to do money does not make you happier But what it can do is it can make your Bills a lot easier like to pay you can make what it can do is it can make your bills a lot easier to pay. It can make vacations. It can make your life more, you can do more of the things that you love. You have more choices, more options.

Exactly. But you still have to work on happiness. You have to work on, it's a completely different game. There's so many people that I've interviewed in the last few months that have had kind of this rise to success over the previous, let's say three to five years. And so many of them said, when I asked them on the scale of one to 10 of their happiness and self-love, that they were higher just right before they started to hit this growth period, right before they became famous or made a ton of money. They were higher right before than they were now. Not to say they weren't still happy and love themselves, but many of them said it was the pressure to continue to grow. Now this exposure, all these people know about me and I'm getting judged and critiqued for my message or my content or my actions. And this kind of fear, what if I

lose it? What if it goes down? So it sounds like you kind of had that. Yeah. So I think I have a little bit of a benefit there and I'll tell you why, because I do notice that pressure where, you know, people, they recognize me, which is amazing. And I hear some of these stories and I'm like, I don't want to screw this up. But I think part of the reason why I'm a little bit detached from that same pressure is because I don't need my income from YouTube so I don't have to portray a certain image or act like a certain person I can be me I can be silly like you watch my youtube channel I say the

word below very funny it's just the way I talk I talk about guacamole because I love guac you know I get my extra guac so i i am able to inject my own personality and if you don't like it i really don't care you know you can leave i'll still be okay financially and which is why i think also i can talk about things like i'm not here on my youtube channel and i think that's also contributed to my growth kind of uh it's funny how it works where like i don't have to sit here and make certain types of content i i think i did go down that route for a little bit where i was like trying to hit the trends yeah you start hit the and i went down that right and it was like you start to do things you don't want to do because you're like oh this is what the algorithm wants this is what is going to make

people happy and you start doing it for the wrong reasons this is what's going to make my sponsors happy right and i did that for a while and i was like you know what this is not me and i stopped and i was probably like a half a million subscribers at the time so it's you know pretty you know i was making good income and i was like you know screw this it's not me and so i stopped that i put out the content that's that's more genuine to me i'm going to talk about the things that i want things that are important to me things that i like talking the way i like talking about it i'm going to be silly if things that I want, things that are important to me, things that I like talking, the way I like talking about it. I'm going to be silly. If I want to dance in a video, I'll dance. And I love my fans.

I love our followers. I love our subscribers. They are the greatest subscribers ever. I just had a small meet and greet here in San Diego. I talked about it weeks before the event, and I stopped talking about it. I just kind of put it out there because I've never done anything like that before.

It was a huge success. Really? I could not believe it. How many people showed up? I don't done anything like that before. It was a huge success. I mean, I could not believe it. How many people showed up? Dude, over a hundred. And I mean, we had shut down Little Italy. I don't even know how many came. That's cool. There was so many people.

And people flew down to see me. People drove eight hours. And I was like, are you serious? It was amazing. And it was like, you serious like you guys i mean it was amazing and it was like i'm not i don't need to sit here and act i don't need to sit here and be someone i'm not look i'm gonna i'm gonna talk the way i am i'm gonna wear the clothes that i wear i'm gonna be like me i'm gonna act like me and if you don't like it i'm sorry you know i i do this for me i don't do this uh for you and. And I think people have appreciated that

because they realize that I'm coming from a genuine perspective. Obviously, it's nice. I get an income from it, which is great. But my livelihood is not dependent on it. If my YouTube shut down, I'm not going to be homeless. I'm going to be okay. So for me, it's a way for me to get my message across. It's a way for me to talk about my business market briefs talk about the things that I'm working

on and it's a way for me to really just connect and talk about the things that I wish I knew so I think that has helped me in that happiness side where I could be me but I think I've also started to identify like you know happiness is something that like it's it's almost like not something you look for it's just you're happy with it and i'll give you an example with it because i think a lot of people thought it was really weird when this happened so this is like before i used a credit card i used to really be this big cash person oh credit cards are bad now i only use a credit card but before i was like credit cards are bad so i used to keep this like fat wallet Now I only use a credit card. But before I was like, credit cards are bad. So I used to keep this like fat wallet.

Now you only use a credit card. I only use a credit card. But back then I used to have this like fat wallet and used to have a bunch of cash in there. And I had the cash stolen out of my wallet a couple of times, right? It was a few hundred dollars. And, you know, I was younger at the time. So a few hundred dollars

was a lot more significant. And I remember my friends were like, dude, like, aren't you angry? I was like, man, look, the person who stole it probably needed it more than I do. It is what it is. It sucks.

We're like, what am I going to do? Just cry about it? Beat myself up? I think I was, I remember my mindset changing on this when I was maybe in middle school. My uncle sent me this email. I've been trying to find this email,

but I can't find it anymore. And they gave the story about why you shouldn't cry over spilled milk. And the premise was, it was this kid who was making cereal, spilled the milk, and now he was so angry. He was so angry about it. He got late for school or work. He gets in his car, he starts speeding, he starts speeding and now he gets into an accident. Now he gets even more angry. He gets into an accident, somebody else gets injured.

Now he's even more upset, now he's late for work. And now he gets into work after the person's injured, he has to deal with that. And then he gets into work and then he gets fired because he's late.

All because of the spilled milk. And it's like, if you didn't cry over the spilled milk, it's just a little bit of milk, you pick it up, you go to work, you're on with the day and nothing else goes wrong. And it's like if you didn't cry over the spilled milk it's a little bit of milk you pick it up you go to work you're on with the day and nothing wrong nothing else goes wrong and it's like wow it's a big shift yeah but along the way I've realized that you know I've been talking a lot more about mental health a little bit on our channel because I have become much more aware to

it I'll be honest I was a very ignorant to mental health for a big portion of my life very dumb about it where you know I was like I kind of grew up with us like your depression is fake mmm not real and then you know everybody has a turning point right you start to see pain and then I started to see it in people around me people very close to me and you start to see the impacts of that and then you start to realize whoa like I maybe you can't break out of it. Because now I started learning about it. I started reading articles about it.

I started listening to podcasts about it. I started listening to YouTube videos about it. I was like, oh, my God, like, I don't understand this. And then, you know, I had lost some very close friends to it. To depression. To depression. Wow. They took their own life.

And that's when, you know, it's like, serious it's real it becomes real and i'm like kicking myself like dude you're so dumb how could you think that and you start to you know you realize that there is a big importance in that which is why you know again going back to the quadruped the mental is so important if If you are anxious, if you're depressed, and it starts at an early age. It starts from your childhood, and obviously I'm not a brain expert. You've interviewed the top minds in this,

but it starts at an early age, which is why, for anybody, it's important to learn about it because if you're ever gonna have kids, learn about this. You want to know physical, mental, spiritual, financial so you can teach this at a young age. Teach this to people because we're never taught these things. Absolutely. If you just have to go and figure it out, guess what? You don't want to be on the losing side of any of these. So on that side, be willing to invest in yourself.

Whether that means talking to a therapist, whether that means checking yourself into a rehab, even if it's expensive, go in and check yourself in, find whatever help, whether it's alternative help, traditional help, go and find help. it's going to become more difficult. And if you think that more money is going to solve that problem, you are going to be even more miserable because then you're going to realize that you were wrong. And then you're going to feel more hopeless because you're like, I did this to solve this problem, but it paid my bills, but it didn't make me happy. And now you're going to feel so much worse.

And I've seen it because, look, in my culture, a lot of people in this first generation, we've seen, gone through a lot of similar struggles where parents are working hard. And so you don't get to spend a lot of time with your parents. You see a lot of trauma in the household. And it starts to come out when people start to work. And I start to see all these issues on the mental health side of things. And it's still a taboo topic in my culture.

Mental health is not something people openly talk about when we need to. And it's one of those things where, dude, people are taking their lives and we're still scared to talk about it. And this is why I say, look, learn about it. Be willing to invest in yourself. If people don't support you, just be willing to spend and do whatever it takes.

And what I do know is that money might help in some ways ease some pains, but it doesn't ease every pain. There was someone I was in a building two years ago, living in a building here in LA. Someone was worth a half a billion dollars that took their life. And so it might solve money problems, but it may not solve depression, anxiety, stress, mental health problems, self-love problems. Exactly. They're different layers, right? They're made of different ingredients. Go back to the cake example.

I love food, okay? So it's different layers made up of different ingredients. This is not too long ago. I was in Sacramento. I did another interview over there. And I got there a little bit. I landed, and I got there a little bit early. So I went to Chipotle. That double guac.

Exactly, the double guac. And I'm driving into Chipotle, and there was a lady there with a sign that said, please help, I need food for my kids. And her two small kids, probably like five to seven-year-old, were sitting there. So I parked my car, and I was like, well, I have some extra time. Let me go see if I can buy them lunch. So I go up to her. She didn't speak much English. And I said, can I buy you lunch? She didn't understand. So I tried to explain it with hand signals. And she was like, oh, I would love that. And I was like, well, I got time.

It was in the same plaza as a grocery store. I said, can I buy you groceries? And after I got that across, she understood that. She was like, oh my God, yes. Like, please. And I said, okay, let's go inside. I'll get you whatever you want from the grocery store buy whatever you want her two kids get up she explains it to them in their native language and they start jumping in joy and i was like you know it's like when was the last time you got excited to go to the grocery store right it's like it's just normal

and so they go inside and they're shopping and i could just see the happiness they're like oh we're buying vegetables we're buying eggs we're buying some milk we're buying some meat and the kids like at some point we're literally like oh can I buy this chocolate bar and this are jumping like up and down jumping with joy and they get to the cashier and I don't get emotional often and I remember seeing that and the kids were coming up to me, and I was getting emotional sitting there looking at this. I had to turn around. I just started blinking.

I was like, this is so sad where it's like, you know, in that instance, money would make a big difference. And I know I can talk about my culture because I've seen it, and I know a lot of people, you know, people even in my own family that have seen extreme struggles. And in that moment, money will solve a lot of problems. It will make your stress go down. It will feed the family.

It will feed the kids. It will make you pay your bills. It will pay off the debts. And that stress, that financial stress will leave. And that stress, the financial stress will leave. But then you have to also look at the physical, the mental, and the spiritual. And, you know, this is where, you know, I am not a mental health expert. I'm not a physical health expert.

I'm not a spiritual health expert. But I understand that it's important in my life because, you know, I've seen the importance of it. But I think I understand money. I don't like calling myself an expert i hate when people call me a guru or an expert even when i go on the news please don't call me an expert because i'm learning every single day but i'm learning every day about it and i think that that education is where i can help and it's under this this is where that lack of financial education is just so deep rooted. And I said this last time, I'm going to say it again.

It's because it is so profitable to keep you poor. It's profitable to keep you financially uneducated. And it sucks, but it's the reality. So what do we do now? Get financially educated. Because at the end of the day, money speaks, money talks. You can hate it.

You can love it, but it's the reality. You know what? People listen to what I have to say now. Why? Because I got money. It is what it is. Yes.

You know, it's a gravity. There's some credibility to it too. You know, it builds credibility, authority, trust, all these different things.

And I hope that, you know, through my genuineness, I've been able to build that. Yeah, man. But, you know, I talk about the system

like gravity. Yes. It is what it is. You can fight it or you can understand it. Learn the rules to the game. And leverage it. Learn the rules to money.

Leverage it. Use it to your advantage because either you're going to use it to your advantage or you're going to get used to somebody else's advantage. Oh, snap. This has been powerful, man.

I'm so excited about this conversation. and if you guys are enjoying this at home or on youtube and you would here's something we haven't talked about we haven't talked about and i haven't seen you talk about this on your youtube channel about money dating relationships and marriage sure in this whole conversation yeah and and marriage in this whole conversation. And if you guys want Jaspreet to talk about this at length, leave a comment below. Type in hashtag love below.

Let's see on YouTube how many people want a conversation around how to manage the mindset of money and relationships, money and dating, money and marriage, and how that dynamic works together. What conversations should you have with your partner before you get married, when you're married, when you start to make more money, what should you be investing in?

Is it one person's decision? Is it both? So if you guys want that, because you've been married for, I think, a year now? About almost a year. So it'd be interesting to see your journey and what's worked, maybe what hasn't worked, what you've seen from other people you've studied.

So if you guys want to learn more about money and relationships and marriage and all tied in together, leave a hashtag love in the comments below and we'll come back. Or the comments below. Yes. You've got an amazing channel. People can follow you and your YouTube channel. Minority Mindsets on YouTube. Make sure to check Jaspreet out there.

Marketingbriefs.com, which is your powerful newsletter for investors. Marketbriefs. Go to marketbriefs.com. Minority Mindset everywhere. YouTube, Instagram, instagram twitter all the places how else can we support you the minority mindset.com what else can we do to support you yeah man minority mindset uh everywhere you know if you like the content share it check out market briefs market briefs.com it's a free financial newsletter where we break down what's happening in the top

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an easy way to stay up to date on what's happening, check out Market Briefs. And, you know, if you like the content, help spread it. Help educate somebody else. One candle can light one room, but one candle can also light a million other candles. And those can light a million other rooms. So spread the education.

Help spread the knowledge. Help spread the word. My man. And I asked you last time your three truths and your definition of greatness. So if people want to hear what you said before, go back and watch the previous video on this, or listen to the previous episode where Jaspreet shares his three truths and his definition of greatness. And hopefully we'll have you come back on and talk about money and relationships. I want to acknowledge you Jaspreet for your constant commitment to this message, the way you show up for yourself,

the way you show up for your family and for your community. It's really inspiring that you're teaching this from your cultural perspective. We need more people like you sharing this wisdom, studying these things, and then teaching it to us in a way that we can understand it and use it for good in our lives. So I really acknowledge you, my man. Excited to have you back on. Again, leave a comment below, hashtag love, if you want to learn more about love and money. I think it'd be an interesting topic. But my man, thank you so much for being here. I appreciate you. Thank you for having me. It was a great time as always. Thank you so much for listening. I hope you enjoyed today's episode and it inspired you on your journey towards greatness.

Make sure to check out the show notes in the description for a full rundown of today's show with all the important links. And also make sure to share this with a friend and subscribe over on Apple Podcasts as well. I really love hearing feedback from you guys. So share a review over on Apple and let me know what part of this episode

resonated with you the most. And if no one's told you lately, I want to remind you that you are loved, you are worthy, and you matter. And now it's time to go out there and do something great.