The 3 MONEY MYTHS That Keep You Poor! (How To Build Wealth) | Jaspreet Singh & Jay Shetty

Jay Shetty talks to Jaspreet Singh about financial education. The best investment that you can do in your life is to invest in yourself. That’s why learning about finance is an important skill that we need to acquire in order for us to grow our mental wealth while also growing our financial wealth.

Jaspreet Singh is a serial entrepreneur and licensed attorney. Although he didn’t receive any formal financial education – he’s on a mission to make financial education fun and accessible. Jaspreet is the Chief Executive Money Nerd at the Minority Mindset Companies and the host of the Minority Mindset YouTube Channel.

What We Discuss:
00:00 Intro
02:07 Understanding the role of money in your life
04:55 Four aspects of life
08:03 Money is a tool for you to do the things you want to do
11:42 Importance of financial education
14:26 The 3 bad habits in handling money
16:08 Don’t go broke just to look rich
18:10 The problem with saving money
19:30 Stop blindly following the system
27:59 Understanding the concept of money
30:53 Equity
33:58 The wealth formula
36:10 Investing with little money
40:42 The best investment in the world
45:09 Delayed gratification
49:43 Having financial confidence
51:27 Recessions and market crashes
1:02:56 Avoid emotional investing
1:09:22 Jaspreet’s Final Five

[NicholasBall]

One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $30k of my savings in stocks this year, and I hope I make profits.

[CornerMoney]

it’s kinda crazy how nobody’s talking about Antozent, they are selling 150 self help books for the price of one

[RickMckee-nqni]

I've lost a significant amount of money in the last 6 months and it feels like the odds are stacked against me. Can't believe I've worked so hard to save and invest, only to see it all dwindle away

[PhilipMurray]

excuse me, i have a question. if i invest $400k, what am i looking at ROI wise in a few years?

[latanyaconlontl]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Success depends on the actions or steps you take to achieve it. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

[RomeoSfait]

Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.

[tonysilke]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments

[AiramRoman]

Since I became so rich in copy-tradin I realise that trading is the future because I invested 30 k and made up to 200 k as weekly profit and am so happy about the current mar-ket

[Angelinacortez]

I recently sold a property in Portland and now I'm considering investing the proceeds in stocks. Many people are suggesting that it's a good time to do so, but I'm unsure. Is now a favorable moment to enter the stock market? How long until we see a complete recovery? I'm seeing others make substantial gains, upwards of $450k, within months in the same market. Frankly, I'm feeling quite perplexed about what to do next.

[bflhoki]

The fact that nobody talks about the forbidden book Scarpure money speaks volumes about how people are stuck in a trance

[MinorityMindset]

Thank you for having me on Jay! it was an honor 🙏🙏🙏

[dubyyax]

What I don’t understand is, on one hand we are told the stock market will crash and yet on the other we are told ways of investing in the stock market. Oxymoron or paradox? I'm considering investing over 150k, but I'm uncertain about risk mitigation strategies.

[NicholasFerdinand-itlv]

Munger and Buffett have both achieved an incredible feat with Berkshire. They've turned thousands to billions, and have made a lot of people wealthy in the process. I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.

[LancEthan]

very true The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

[ChristopherAbelman]

How can I safeguard my investment portfolio of around $2M in stocks amidst the economic firestorm? What's the most effective strategy to reallocate funds in my portfolio to hedge against downturns?

[MablePauls]

I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024

[BrainHarrow]

I love this video and feel it was made for me. But as a beginner what is a good A.I. stock to invest in? Or how do i know which stocks to buy?

[jashandeepaulakh]

I am 20 and I feel myself lucky to watch this video. “ I WANT TO GROW & I WILL GROW”.

[BraxtonScott]

Focus on two key objectives. Learn when to sell stocks to minimize losses and maximize gains to start protecting yourself. Second, prepare to make money when the market turns around. I advise speaking with a broker or financial counselor.

[Vikturneer]

This time last year I considered getting into index funds and ETFs without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. One year down in, I truly cannot stress enough how helpful experts in this field are!