Jaspreet Singh
๐ค SpeakerAppearances Over Time
Podcast Appearances
You could have some money coming in. Once you make some money, number two is you don't spend all of your money. And that means when you make $1,000, you don't spend all $1,000. How much do you spend? Let's not worry about the nitty gritty yet. Just don't spend all of your money.
You could have some money coming in. Once you make some money, number two is you don't spend all of your money. And that means when you make $1,000, you don't spend all $1,000. How much do you spend? Let's not worry about the nitty gritty yet. Just don't spend all of your money.
You'll never build wealth. You'll never get rich. You'll never have any freedom. And so you can't spend all of your money. Which is why number three is you take the money you don't spend and you go out and you buy an investment. We'll call it the middleman. And you'll see why I call it the middleman.
You'll never build wealth. You'll never get rich. You'll never have any freedom. And so you can't spend all of your money. Which is why number three is you take the money you don't spend and you go out and you buy an investment. We'll call it the middleman. And you'll see why I call it the middleman.
Is you want to take this money you don't spend and you want to essentially throw it into this thing on the side that will hopefully make you some more money in the long term. Mm-hmm. Then number four, when your investment makes money, take the money that your investments make and dump it back into your investments. And then number five is where to make more money.
Is you want to take this money you don't spend and you want to essentially throw it into this thing on the side that will hopefully make you some more money in the long term. Mm-hmm. Then number four, when your investment makes money, take the money that your investments make and dump it back into your investments. And then number five is where to make more money.
And the reason why we're going to make more money is so you can have more investments. Now, let me explain why this is so difficult because it makes sense in theory, right? You're never going to become wealthy if every time you make a dollar, you give it to somebody else. If you want to become wealthy, you have to keep more money for yourself.
And the reason why we're going to make more money is so you can have more investments. Now, let me explain why this is so difficult because it makes sense in theory, right? You're never going to become wealthy if every time you make a dollar, you give it to somebody else. If you want to become wealthy, you have to keep more money for yourself.
The way that our economic system works is the more money you spend, the richer somebody else gets. It's, you know, hate it or love it, that's the reality. When you go to Chipotle and you buy that extra guac, Chipotle is making more money. When you go to Amazon and you spend more money, Amazon's making money.
The way that our economic system works is the more money you spend, the richer somebody else gets. It's, you know, hate it or love it, that's the reality. When you go to Chipotle and you buy that extra guac, Chipotle is making more money. When you go to Amazon and you spend more money, Amazon's making money.
Now this can make some people extremely wealthy, but it also keeps the majority of people broke financially. And so this is where if you want to make yourself rich, you got to stop making everybody else rich right now. You got to first make yourself rich. And that means stop giving other people your money. And there are so many extremes to how you can do this, right?
Now this can make some people extremely wealthy, but it also keeps the majority of people broke financially. And so this is where if you want to make yourself rich, you got to stop making everybody else rich right now. You got to first make yourself rich. And that means stop giving other people your money. And there are so many extremes to how you can do this, right?
I mean, you could go to that one extreme where I am not going to spend anything. I'm going to live in a shoebox and I'm going to eat nothing but rice and beans and I'm going to stack all my money. Fine. other people will find a more balanced approach. And you got to find what's right for you. Yeah, yeah.
I mean, you could go to that one extreme where I am not going to spend anything. I'm going to live in a shoebox and I'm going to eat nothing but rice and beans and I'm going to stack all my money. Fine. other people will find a more balanced approach. And you got to find what's right for you. Yeah, yeah.
And you got to find your balance. For me, I was on an extreme. When I first learned about this, I went extreme because when I was making money first, I was running an event planning company. I didn't know anything about money. I took my money and I bought nice watches and I dumped it back into my car. I mean, that's what I thought was normal.
And you got to find your balance. For me, I was on an extreme. When I first learned about this, I went extreme because when I was making money first, I was running an event planning company. I didn't know anything about money. I took my money and I bought nice watches and I dumped it back into my car. I mean, that's what I thought was normal.
But as you start to learn, you realize, or if you start to become more financially educated, you realize that that doesn't do anything for your wealth, right? There's no wealth built into tricking out your car. There's no wealth built into just spending money on nice things.
But as you start to learn, you realize, or if you start to become more financially educated, you realize that that doesn't do anything for your wealth, right? There's no wealth built into tricking out your car. There's no wealth built into just spending money on nice things.
It looks nice and it's nice if you want to have it, it's fine, but that's not going to make you wealthy and you got to decide what's more important to you. So then I completely tipped the scale. And I started not spending any money so I'd have more money to invest. For me, it started off in real estate. And now it's this slow process.
It looks nice and it's nice if you want to have it, it's fine, but that's not going to make you wealthy and you got to decide what's more important to you. So then I completely tipped the scale. And I started not spending any money so I'd have more money to invest. For me, it started off in real estate. And now it's this slow process.