Jaspreet Singh
๐ค SpeakerAppearances Over Time
Podcast Appearances
The reason why it's so difficult is because if you make $10,000, it's a lot of money to put aside, right? I worked to make 10 grand. But you can't show off a $10,000 stock market portfolio the way you can a $10,000 watch or a $10,000 vacation. Because I can take those things and I can put it on my Instagram. I can put it on my Facebook. I can put it on TikTok. And I can show these things off.
The reason why it's so difficult is because if you make $10,000, it's a lot of money to put aside, right? I worked to make 10 grand. But you can't show off a $10,000 stock market portfolio the way you can a $10,000 watch or a $10,000 vacation. Because I can take those things and I can put it on my Instagram. I can put it on my Facebook. I can put it on TikTok. And I can show these things off.
And they get a lot of likes and they get a lot of oohs and ahhs. But my stock market portfolio just sits there. Slowly, it'll start to generate a little bit of income. And I think understanding you're going to make a lot of money in your lifetime. I don't care how much money you're making. If you make 50 grand a year, in the next 10 years, you're going to make half a million dollars.
And they get a lot of likes and they get a lot of oohs and ahhs. But my stock market portfolio just sits there. Slowly, it'll start to generate a little bit of income. And I think understanding you're going to make a lot of money in your lifetime. I don't care how much money you're making. If you make 50 grand a year, in the next 10 years, you're going to make half a million dollars.
In the next two decades, you're going to make a million dollars, assuming you never get another raise. Which means you're going to make millions of dollars over the course of your career and most people will have nothing to show for it. And when I say most people, I don't say this generally. I mean, statistically, most people will have nothing to show for it.
In the next two decades, you're going to make a million dollars, assuming you never get another raise. Which means you're going to make millions of dollars over the course of your career and most people will have nothing to show for it. And when I say most people, I don't say this generally. I mean, statistically, most people will have nothing to show for it.
Which means now, as you go through life earning this money, what are you doing it for? Are you doing it to look rich or are you doing it to actually build wealth? And you got to decide that for you, right? I can't come here and tell you, oh, it's important for you to build wealth. And then you listen to me.
Which means now, as you go through life earning this money, what are you doing it for? Are you doing it to look rich or are you doing it to actually build wealth? And you got to decide that for you, right? I can't come here and tell you, oh, it's important for you to build wealth. And then you listen to me.
You got to decide that for yourself because you want to take better care of yourself, your wife, your husband, and your kids and your parents. And you want to have a better future than today.
You got to decide that for yourself because you want to take better care of yourself, your wife, your husband, and your kids and your parents. And you want to have a better future than today.
Well, before I give the advice, I want to explain to that person what's happening. Because you are the prime customer for our economic system. Banks love you because they can sell you payday loans, they can sell you credit cards, they can sell you lines of credit, and they can keep you in debt for the rest of your life, which means you keep making the bank rich.
Well, before I give the advice, I want to explain to that person what's happening. Because you are the prime customer for our economic system. Banks love you because they can sell you payday loans, they can sell you credit cards, they can sell you lines of credit, and they can keep you in debt for the rest of your life, which means you keep making the bank rich.
Corporations love you because you're not going to think twice when we show you this nice bag, when we show you this nice vacation. You're going to want the stuff, and so we love selling you the stuff. The government loves you because you're going to pay the highest taxes. Employees pay the highest taxes. And so when you're in that situation, you are making everybody else rich at your expense.
Corporations love you because you're not going to think twice when we show you this nice bag, when we show you this nice vacation. You're going to want the stuff, and so we love selling you the stuff. The government loves you because you're going to pay the highest taxes. Employees pay the highest taxes. And so when you're in that situation, you are making everybody else rich at your expense.
And so if you want to break out of this, the first thing is you got to understand, you need to make yourself rich before you make everybody else rich. Because when you're spending all your money, you are putting your money into their pockets. And you have to stop that. You got to keep that money for yourself. You're in a boat. Think of it this way. You're in a boat.
And so if you want to break out of this, the first thing is you got to understand, you need to make yourself rich before you make everybody else rich. Because when you're spending all your money, you are putting your money into their pockets. And you have to stop that. You got to keep that money for yourself. You're in a boat. Think of it this way. You're in a boat.
And this boat has water just flowing in. And you are sinking. And you got to start by sealing the holes. And that means you got to stop the spending. So if you are in what I call the financial danger zone, which is you don't have $2,000 saved up for an emergency and you have credit card debt. If you are in that situation, you are in the financial danger zone and you have to make drastic changes.
And this boat has water just flowing in. And you are sinking. And you got to start by sealing the holes. And that means you got to stop the spending. So if you are in what I call the financial danger zone, which is you don't have $2,000 saved up for an emergency and you have credit card debt. If you are in that situation, you are in the financial danger zone and you have to make drastic changes.
That means right now, no more eating at restaurants, no more vacations. no more doing anything that doesn't put money in your pocket, and no more Netflix.
That means right now, no more eating at restaurants, no more vacations. no more doing anything that doesn't put money in your pocket, and no more Netflix.