The 7 Wealth Killers That No One Talks About

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"The Minority Mindset has nothing to do with the way you look. It's the mindset of thinking differently than the majority of people" ~Jaspreet Singh

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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.

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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 YouTube 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!

MinorityMindset

Another wealth killer is having a partner that doesn't save or invest 😊

davidbrooks

The biggest wealth killer is choosing the wrong partner. It's not just about finding someone who is financially compatible, but the cost of divorce.

PabloMatsumoto

Something I learned many years ago from an older guy is to try and turn your home into a producer instead of a consumer. Meaning, plant fruit and nut trees, grow a garden, raise livestock, etc.
I know not everyone is able to do all that, but even small things help at least a little.

sevartt

Jaspreet, you are my favorite random guy on the internet! Thanks for all you do. I wish I had seen this when I was 40 years younger. Lots of great advice, especially being skeptical of financial advice and avoiding buying new cars. Been the victim once or twice.

edwallace

I have an old 97 Corolla in a good looking condition, it’s a paid off car decades ago (thanks dad) I have no intention to buy a new car and be in debt however…… I just spent 300 dollars on a fancy stereo system with Apple CarPlay but in my defense I’ll keep using the car for years.

soumenchakraborty

I bought a house in 2020 for 130k, now it’s worth 230k. In 2019 I bought a 2005 Honda accord for $2500 now it’s worth 5, 000 lol😂😂😂. Well, I put some work on the house and the car. Timing belt, water pump, suspensions, and things like that. I did it myself. My car is running now on 220k miles and it feels great. And the best thing is that I don’t have monthly payments. This channel has great advices. Thanks.

Drawingmylanguages

And don't buy extended warranties. If I added up the cost of every extended warranty I declined, it would be thousands more than what I lost from products that didn't last.

NedSpindle

For those Amazon purchases I put them in my wish list. Usually I don’t buy them.

gracieallen

I learned most of these lessons 30 years ago from my grandparents. Always been frugal and realistic with my income and debt. No new cars, living within or even below my means, appreciation of used items, bought a small home with a low interest rate and started saving:putting aside a significant part of my paycheck aside. Not having kids has saved me a few $ too.

toddbowers

I listen to a random guy on the internet, he's pretty savvy. Thanks Jaspreet!

staybroncy

Another great video. Like how you bring out the fact that your house is a liability. One thing people don’t talk about is recasting your mortgage.

janbloemendaal

In the early 70s, the richest man I knew was the father of a friend. He lived in a modest house and drove a 63 Volvo. In the early 80s, I ran into him again. I knew it was him because it was the same car he had when I was a kid. He still lived in the same little house and he was still rich, lol. I learned that millions aren't usually the ones you see with the bling, they are the ones who look borderline homeless but buy their homes and cars in cash.

jasjordan

Most of my buying stuff on impulse came from being bored and also the need for some form of novelty/fulfillment. I found a cheap way to be fulfilled most of the time.... by going to all the libraries around my area. For me, I get the same dopamine hit by seeing what new books are in the New Books section. I'll get a bunch of books, read like half of them, and best of all.. learn and grow my mindset from all the new things I have learned (self improvement, mediation, mindfulness, finance, photography, travel, computer programming, cooking, the music industry, etc, etc). The best part is if I don't read (use) some of the books I check out, who cares? I didn't pay for them!

inigomontoya

I think a benefit of your choice of home is crime statistics and quality of school district. That’s a key thing that people pay up for rather than just the size of their home.

jerrybarry

During the gold rush in the United States, the guy that made the most money was the man that sold the picks, shovels, and pans. Let that sink in 😮

davidd.

If cocaine and strippers didn’t make the list it’s incomplete

WeBeatMedicare

Minority Mindset has added a great deal to my financial education and I'm forever grateful.

damioncoke

It’s hard to live in an apartment when you have kids and the rent keeps going up in some places. You don’t want to keep moving from apartment to apartment.

zuhawk

When someone tells you “it’s nobody’s fault”… it’s THEIR fault 😂😂

kaylean

The 7 Wealth Killers That No One Talks About