Why The Poor Will Get Poorer...

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Why The Poor Will Get Poorer...
0:00 - Video starts
1:29 - The 5 ways someone can become wealthy
8:55 - Why the rich are getting richer, and the poor poorer
13:15 - How inflation is affecting the wealth gap

What Is The Minority Mindset?
It's thinking differently than the majority of people.

Minority Mindset was founded to revolutionize the way Money Minds think about money and to make financial literacy fun. We do this by sharing videos, articles and resources on how to make, save and invest money. #RethinkRich

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Video host: Jaspreet Singh

DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you.

DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

[samantharowley]

Greatest sentence in this video is "using tomorrow's income to finance today's lifestyle in debt". Oh, so true here in America. Thanks for excellent information Jaspreet!

[maryamelia]

The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich, it's simple

[CaseyBurnsInvesting]

If I’ve learned one thing from The Minority Mindset it’s that slightly different decisions make a world of difference over time. Thanks for keeping the people informed Jaspreet!

[ImaTroper]

Read to your kids and give them a happy two parent household. Those two things give them a massive boost that no one ever talks about.

[pete]

Thomas Sowell has talked about this. Wealth does not generally continue to grow through generations. His research showed the top 15% of earners changes all the time. If I remember right he said wealth only lasts 3 generations before the family is back in the bottom half.

[SuperSteaders]

I'll be honest with you Jaspreet, I've had a pretty good life. I'm 25, I was born in and lived in England all my life and for a couple of years in switzerland when I was young, I pretty much have won the lottery as you say when it comes to having 2 supportive parents; even today I still don't have a job (although I'm working on that) and my parents support me financially even though I've said to them to not pay me anything for doing nothing but they see it differently.

I've been born in probably the most prosperous time in human history too; I've never even lived without the internet for instance, and my family has never been in poverty. However I have a severe lack of financial education. I was taught absolutely nothing about money in school or 6th form college. This has led me to be very impulsive with my money throughout my life, and that's something I want to change. I want to seriously thank you for making these videos throughout the years. If I hadn't been curious enough to learn about this stuff, I'm sure I never would have (or at least, it would have taken me a lot longer to learn).

Thank you for what you do, and I will try to change my thinking in the future towards spending money wisely.

[qmakesithappen]

Inflation is already taking place, the faster you get good with money the better. Poor is NOT an option for me! Been there before and refuse to go back.

[Chris-kqix]

Four years ago I was homeless, sleeping behind dumpsters, in and out of jail, and addicted. Today I'm working two jobs, saving and investing, and I hope to be a home owner one day. Let's do this, people!!!

[alicecoppers]

Back in 2002 the Fresno bee did an article on a Hispanic man who did not speak any English and he had donated $1 million toward domestic violence. The article was about how he did it. He bought a fixer-upper houses in Fresno and lived in them and repaired them and then rented them out. He never on the cell phone nor a car. Rode his bicycle and public transportation. He was a janitor at the local elementary school for over 30 years. He never married and he never drank or did drugs. I kind a live like a monk. But yet he save more money than his imaginable on a janitor salary.

[justusjustice]

Thanks Jaspreet. Due to the influence of channels like yourself, not only am I working for my money, but my money is also now working for me.

[xslabcabxhearsex]

I’m so sorry your parents had to deal with conditions that they did.people have no idea way lucky living in the United States have it.worrying about bombs and just staying alive is bad.served eight years in the Marines and Desert Storm combat veteran and seen this first hand.wish you the best and thanks for all the great content

[GregFries]

Cool you talked about your family's story. People listen better when they feel like they can relate personally.

[theuniquebean]

I appreciate all of your hard work on these videos I’m in my early 40’s and just learning. I’m paying off my debt as quickly as possible. I finally feel like I’m heading in a direction that will benefit my children long after I’m gone. Wishing you and everyone here well💕✨

[josephrizk]

Who are your parents, what country you are born in, having someone to help you learn about money all seem to be gifts given by God. This video just makes me thankful for all the blessings we have been given.

[susanlewis]

I have the opposite issue - don’t spend except on needs. Thanks Sue 😀

[rentospropertymanagementso]

The one who learns that he should change the way to lead a wealthy life will definitely analyze his life the way you just explained. Thank you for the great content.

[Ranveer_sangha]

And can I say you are our proud JASPREET SINGH
Waheguru mere veer te chardi kala rakhe

[davisoscar]

The philosophy of the rich and the poor is this, the rich invest their money and spend what is left. The poor spend their money and invest what is left.

[ralphmartinez]

Real School here ! Listen strong young minds... be prepared or get lost behind. Thank you Jaspreet! 👊🏼

[kingdomseeker]

Financial literacy + entrepreneurship = wealth