Why You’re Still Poor: 7 Money Lies You Believe

[@MinorityMindset]

Register for my free Investor Summit (August 14 & 15): briefs.co/investor-summit WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through KZbin comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!

[@donaldlyons17]

Or you could just disable comments and avoid having to worry about people trying to scam other in YOUR community?

[@JustinThomas-n5h]

*When someone becomes rich, a lot of things change. Lifestyle upgrades, new social circles, and different financial responsibilities are just the beginning.*

[@MaryCampbell90]

You mean like getting a private jet instead of flying commercial?

[@JonathanWymer-p7z]

more opportunities for investment and philanthropy increase as well

[@MichaelGillespie-MG]

Managing wealth becomes crucial. Professional advice from expert financial analyst and advisors are important.

[@MichaelGillespie-MG]

Experts like Brian Humphery Services can be invaluable, as he is very effective and experienced.

[@MichaelGillespie-MG]

Brian Humphery Services was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Brian.

[@enigmathegrayman2953]

In 2024 you’ve gotta win, because losing just became a whole lot more expensive….

[@blueb2110]

These recycled videos are the smartest way to wealth. It's a constant reminder to stay consistent. Keep up the good work.

[@ldstiesto]

Best channel in KZbin 👍🏽👍🏽

[@AustineRalph]

The money market hasn't been too kind to commoners lately. I feel like I'm not making as much as I could be

[@ServerError-ub8fx]

Have you considered getting a certified expert in Wealth Management ? They could help optimize your investments. Person A: "Hmm, who do you use?"

[@AustineRalph]

Hmm, who do you use?

[@ServerError-ub8fx]

That's where experts like DESIREE RUTH HOFFMAN come in ,She a former Wells Fargo advisor. Her predictions and guidance have been instrumental for many speculator during these turbulent times.

[@TamaraTamara0280]

Wow, that's impressive! I've heard of her. I'm excited to hear about her success stories….I've actually had my mortgage paid off by following her guidelines calls.

[@johnmccarty-z7u]

That's amazing! I've been thinking of getting a fiscal advisor too. I did a quick lookup and found it so easy to schedule a call with DESIREE RUTH HOFFMAN

[@XCVi_MAC]

Number one reason people are poor is because we normalized debt. Most of you can’t afford the car you’re driving.

[@obama-xi1ys]

Or the house

[@ewr34certxwertwer]

Debt is the devil. Avoid it at all costs. Can't buy the car you want? Get a crappy second hand one. And pay it at once. No credit Thank me later

[@markcostanzo5662]

Couldn't have said it better myself 🎉

[@markcostanzo5662]

Couldn't have said it better myself 🎉

[@Ravi-rl8tt]

Lmao, half the people in here who bought their cars in cash probably can no longer afford the insurance🤣🤣🤣

[@accidentalaerialist371]

Exactly what I needed to hear this morning. Very middle middle class, have a simple home in a working class neighborhood and a very serviceable 13 year old car. I put away over 1k a month into retirement. Usually I don't mind being 'simple' but this morning, treated myself and my dog to a visit to a bougie coffee shop coffee and pupcup. All those shiny, new SUVs - so want one - I think 'what am I doing wrong'. I not doing anything wrong 😊 - just needed a reminder ❤

[@mro1160]

Coffee cheers

[@ChicanoMTB670]

Yeah buddy! Keep it up.

[@reginomics23]

🙏🏾slow is smooth and smooth is fast !! 💨

[@gintongaparador999]

I always repeat this like a mantra: I don't work for money, money works for me.

[@elisadelaney7355]

This is excellent! I wish I had a resource like this when I was in my 20s! Back then, I did not believe that wealth was possible for me. I had no personal example of it and as a newly divorced mom, I didn’t see how I could save more than the minimum. That was not true, but I believed it was. Thank you. Bravo!

[@firststar2]

" you can't pay your credit card with love"😂😂😂😂😂😂😂😂😂😂 I'm dead.

[@mr.tuckers2848]

This is the most clever and normal financial guy that I have ever listened to on KZbin. Why? Because it’s common sense in simple terms. Thanks Jaspreet!

[@BondTheOGYT]

Great video glad what you mentioned with thr traingle at 20:01

[@smileystevie9662]

Thanks, Jaspreet.

[@tomTom-lb5cu]

The story of Ronald Read is good. Janitor investing, living frugally and happily, donating to his favorite places upon his death. Living a very humble life. God bless

[@healinggracehomes]

That’s what a lot of people in 2007 thought too, diversifying with tangible assets such as houses, gold, and art is smart investing, while keeping savings in a high interest yield and making sure you have no more than 250k in one bank just in case they fail. You gotta go even deeper and pretend we are in a huge stock and housing bubble and that it will burst once people start defaulting on the houses, credit cards, and unaffordable cars. Also that the huge whales in the stock market are waiting to sell for all their gains and get out…just like what has happened over 10 times in the past 150 years. Like maybe history repeats itself? I mean. Just saying

[@tomTom-lb5cu]

@@healinggracehomes each person takes their own path it’s the end results that count. I suppose. Guess I just got lucky 🍀

[@SabrinaaDolph-y4y]

I want to start re-distributing my portfolio to some digital currencies and also other stocks with that in mind. I know the second quarter holds a lot of promise. I'm thinking of sharing my portfolio of about 300k over different asset classes. Any recommendations?

[@PhilipsJameszang]

No specific suggestions from me, but all I can say is that he's really likely to win. It's really not as difficult to smartly distribute your assets as many people assume. It requires a certain level of expertise, which ordinary investors lack, so a financial advisor usually comes in very handy.

[@danielguide2457]

I agree. A financial advisor can really help you re-adjust and identify blindspots that you yourself do not notice, like mine did in advising me during COVID on how the pandemic will shape things, and I made it out big and still make up to at least 20k in dividend per month.

[@WilliamsTyler5]

Who's your advisor

[@PhilipsJameszang]

Melissa Jean Talingdan. search her credentials.

[@danielguide2457]

Melissa Jean Talingdan search her credintials.

[@dean_s]

A great video, Jaspreet 🎉

[@kimcho4698]

Your videos are amazing, I'm glad I stumbled across it! 👏 thank u for the videos

[@stillauthentic]

This one is a good one ☝🏼💯💯💯💯

[@tropicalerik]

Thoughts on investing in silver/gold?

[@cavannaro1]

I think that the most important lesson I learnt, after far too many years, is that wanting to be wealthy doesn’t make you a bad person. Sounds ridiculous. I grew up in an extremely poor household (no car, no phone, for a long time no tv, and quite often no food), and despite getting a well-paid career in adulthood, I still believed it was immoral to have a desire to be wealthy. I don’t know where that attitude came from, but in my 40s, it changed. As I say, a lot later than I wish it had been.

[@obiomaokeydicksonchimezie2336]

Great lesson, since I began to listen to you my financial life has changed here in Nigeria ❤

[@ronrafalzik3299]

Excellent!

[@DominionAnako-bb7ry]

Love your video

[@markmyjak7739]

Who here still has their covid money? I do 😊. I took that covid money and bought stocks that pay dividends. I had people tell it was stupid for me to buy stocks. I sleep well every night. And some of the dividends are not taxed. Plus, I get the 199A deduction. That deduction adds to my standard deduction. Lowing my taxes.

[@seewaage]

Thanks a lot Jaspreet for your videos. I personally think that the mental game is the most difficult part of wealth.

[@Surayahti]

This video needs billions views.

[@juki3451]

All really well-off individuals I know do not exchange their time for money. Most have some type of passive income & have others working for them & or something they own that they rent out. Also, playing in the stock markets. Thx, Jaspreet, for spreading important financial information 👍

[@michaeldowning7094]

Would dividend paying stocks count as Passive ?

[@BondTheOGYT]

Certainly would

[@juliansangtam9319]

Thank you so much.

[@eionsmith100]

This is true . Bad education system, expensive tuition fees.

[@ajb4057]

Their newsletter is really good.

[@jasonlangdon709]

Thanks for giving us some much needed education !

[@corpuzone]

Very nice advice once again!! What if we are able to pay off a car in 2-3 years by adding more towards principle rather than just paying fixed payments?

[@AaronTaylor-bx1zm]

Great video

[@JV-ir3zw]

LOVE ❤️ you "Random guy on KZbin " !! I Re-Learn a bit more everyday with your Financial Education Lesson ❤❤ Yes it Feels AWESOME to Own businesses 👏 ❤ and not work for them and just Profit kachin kachin money 💰 I don't watch TV But I Profit from it ❤❤❤kachin money kachin money 😀 👍 SHUKRIYA JASPREET!! 😊😊

[@Illninnio]

How much time does it take to buy investments to pay you

[@ourjourneyhome3690]

I love that book

[@Lunafilms12]

Wow , This is a great video! Thank you!

[@toulor3403]

You have to earn more than what your basic necessities (cost of living) cost, before you can buy investments.

[@briankroenung7995]

Nixon said “…I have directed Secretary Connally to suspend temporarily the convertibility of the dollar into gold or other reserve assets…”

[@suzukikawasaki5165]

So what do you invest in so that wall st doesn't do 30% draw down on your retirement

[@GabrielSBarbaraS]

We have watched enough of your videos than now we feel like you are a big brother to us. What you are talking about here, we have done for years and now that we are older , we look back and glad we did. Thanks Jaspreet.

[@friendoftim94]

To diversify I bought tokenized real estate on Propbase. Now I get rent based on the proportion I own. It’s really easy and quick

[@user-tr8rg1xg9e]

Debt is 🤴

[@vesubioromo9425]

Great video, man. A real keeper. I'm going to add it to my morning watch list. Thanks.

[@PeteCorp]

Yes. This. Correct way to buy dumb stuff.

[@AaronTaylor-bx1zm]

Best video you ever made bro!!

[@DM-tv3du]

Thank you for the content 🙏🏼

[@tonyamcgrew5891]

m broke cuz my husband passed in February, im struggling through the mess of that, thank you for your content!

[@Simon-je7ko]

If you apply those principles. I promise you that even your hair will start to grow again 😂

[@veronicahoyos-leonard2459]

These two stocks are very expensive for small investors

[@carlosgarcia8770]

Below !!! 👍

[@joantonio6331]

Bankers... I went to my banker and told her I want to build passive income... That banker, a financial advisor replied "what is passive income?" ... I was like "bye"

[@ychongy]

Comparing a 30-year investment is not the same as a 6-year car payment

[@chrisvoinier-eu6gj]

He was also saying that the car payment becomes "normal" so numerous 6-year payments start to stack and approach decades.

[@damirzeric1018]

Yeah it is the same essentially because people MUST have car payments and feel awkward without it lol. So most people have like 5-6x car loans by 60 it is crazy!!!

[@seymourwhitetail4945]

He's telling you that $700 a month avg. car payment would be better invested. 10% return let's say and done month by month would compound serious interest! Get a used car loan and don't indulge in the automobile market. Spend your money on healthy food instead!

[@thomasbruner854]

This simple concept should be taught in our schools!

[@leonelaventuras1526]

Yoo, tell your thumbnail to chill out a bit, it felt personal 😡

[@BOEHHO89]

Back in the 80s I was a part time cobbler and one day the boss came to me and told me about mutual funds ,later that week I signed up for Pioneer fund .in the early 2000 when I retired it helped a lot.

[@Mark-qp1mj]

money will work for you better if you have a lot..

[@justinhunt4767]

I think you should show your stock portfolio and real estate portfolio. We can see if you're investments are making more profit than loss. If not who knows if you're telling the truth about investing we need to see it firsthand from a person not a stat chart

[@briankroenung7995]

U.S. currency paper is composed of 25% linen and 75% cotton.

[@tmajec]

1:10 Errr….no thank you! Not that racist grifter.

[@mccoyji]

Come on, rolex goes up I'm value

[@itsmeyourfriend1]

You remain poor because you dont play roulette . Just take your wealth and gamble in the casino . If you win, you will be rich . If you lose, you will remain poor like before .

[@edhcb9359]

Are you saying the stock market is like a casino?

[@atrain8868]

😂😂😂😂 I’m not mad at that

[@aminkabuli9415]

Roulette has very bad odds . . Casino rule: The House ALWAYS wins

[@CarysCorner]

@@aminkabuli9415 Is correct! All those pretty buildings in Vegas weren’t built by winners.

[@MrIMCP]

Pull your 401k early and go to Vegas, the only thing stopping you from being rich is YOU! Trust me I’m a random person on the internet!

[@jonathankay9957]

From an economic standpoint i never cared who the president was. Did well under Bush, Obama, Trump, Bidens and will continue to do well after election day.

[@BSB-dx5om]

I really wish that I truly learned about money & finances years ago 😏

[@daviddominguez7545]

Good ol fashion hard work and long hours is the only way to get ahead, so I was told. Then I started investing 💰

[@sevartt9046]

It's funny how some of the people that say that probably built skyscrapers for multi-millionaires and billionaires that more than likely have never done physical labor themselves.

[@StrategikMedia]

My student loans are stopping me from buying a house!

[@xlerb2286]

There's a huge difference between "you can afford it" and "it's smart to buy it". There are many things I can afford and want - but I've got better uses for those dollars and I only get to spend them once :)

[@tweetums0213]

Lifestyle creep is real! Ive been buying dumb stuff 😢

[@Chucky_knows]

Our schools don't even teach personal finance any more. Our society is based on wants not needs. I want a new cell phone. I want a new car. I want a 3000 square foot house. I want an Ivy League education. But i was never taught about money, so i don't understand how i am hurting myself.

[@rememberstayangry2366]

One of the biggest reasons people are poor is the lack of knowledge on how to get started. I have found out that you literally have to drag someone down to a place and sit with them and help them open an investment account. Or you have to go online. Pick one of the numerous investment platforms. Link their bank account. Show them how to move the money around etc.

[@rugrats9839]

I'm car poor😅

[@jeremygermenis8036]

Nice to see Jaspreet practice what he preaches. Instead of buying HD video cameras to film his videos he invested the money instead!

[@StonewallSheetr-yo2cb]

FDR took us off the gold standard.

[@maxschmidt8929]

You'd think people making lots of money would be smarter than immediately buying dumb stuff. But they aren't. It seems making lots of money through work and not buying loads of dumb stuff are two completely different and unrelated skills. Happy is the man (or woman!) who happens to possess both. But if you could wish for only one, you should probably choose the second.

[@Hamzakhan-iq4xv]

Well Jaspreet just explained the contradictions of capitalism. Marx would be proud lol. The system is designed against an ordinary worker, it benefits those who own capital (in simpler language assets) lol. This isn’t political scaremongering it’s just how the economic system is designed.

[@shaffti7701]

Well, it's up to you to own capital. It's Not a perfect system, but it's the best it's ever existed. There's no argument.

[@Hamzakhan-iq4xv]

@@shaffti7701 is it the most productive system that’s ever existed? Yes absolutely. Does it still benefit those who own capital/assets over workers? Yes. Does the whole system including our education system teach us to be workers instead of capital owners? YES. Is majority of the world full of workers? Also yes. Make of this what you will

[@CarysCorner]

More to the question, what will you make of it with this knowledge? Everything you said is true. Now, what are you gonna do about it? I started my journey to financial wealth much later than I should have, but as someone said, “better late than never” 😁

[@Tonygarry78]

Nver underestimate the governments hatred of you!

[@dukeloo]

Jaspreet why don't you encourage people to ride bicycles or ebikes? its the cheapest transportation vehicle.

[@adityapatnaik7078]

PPPPPPPPPPPPPunjabi

[@Chinunit22]

Taxes, inflation, and low wages are keeping the majority of people poor.

[@matthewmorgan582]

Complaining about it doesn't help anyone. There's certainly a way to save enough and invest enough to be able to get out of the loop. No matter your situation, you can get better to make more and save more.

[@WittyOne37]

🤯🤯🤯boyyy am I living wrong 😂

[@VeyselTuba-g7e]

Yeah talking s**t again

[@jonathana2079]

That’s hyperinflation Jaspreet. Call it like it is.

[@ganymeade5151]

The rich invest their money well.

[@KrishnaSingh-rg4qk]

👍👍👍🥸