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@DavidNguyen-vh6nl

21 күн бұрын

Jaspreet, you need to drop that extra guacamole joke, no one is going to chipotle anymore

@user-pb2xk9rn5n

21 күн бұрын

Can you make a video on how to build wealth at 60

@SandipPatil009

2 күн бұрын

Khalistani mindset 😂

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

@kitmarshall4084

15 күн бұрын

Divorce is a wealth killer as well

@ozyrob1

15 күн бұрын

​@@kitmarshall4084 Like we say in Australia, buggered either way.

@hi-tych

13 күн бұрын

Truth. 😂

@yadveersingh3628

12 күн бұрын

People take it funny but you are very true

@Someone12378

11 күн бұрын

Preach!

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.

@derekhayter4879

12 күн бұрын

Ah yes. Buy a house. Pay up that mortgage. Easy. Get a farm. Might as well breed some horses too and drive that tractor to maximize efficiency. Yes, I will follow your lovely advice and put it into practical use my good sir! I can ever be grateful to you!

@JVlk-tw6fs

7 күн бұрын

​@@derekhayter4879Hmm. I actually grow spices on my balcony in my appartment. That way I always have fresh celantro, basil, thyme, oregano, rosmary, sage. I also use mint, Lavander and sage to brew herbal teas. I hade cherry tomatos last year and I want to grow chily peper next year.

@JVlk-tw6fs

7 күн бұрын

​@@derekhayter4879Oh. And salad leaves. It grows sooo fast.

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.

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

@JS-bn4vx

21 күн бұрын

It’s a good time though

@toomuchdebt5669

21 күн бұрын

That's an impulse buy.

@markmower1746

21 күн бұрын

Are you the prince that got turned down for marriage by the beautiful princess?

@clear_gray_sky539

21 күн бұрын

Everything in moderation

@annyer262

21 күн бұрын

If you are the dealer or the pimp then they are money makers

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.

@sandeephunjan

21 күн бұрын

SMART !

@andrewmurrieta936

16 күн бұрын

Those cars are bulletproof!

@krantiabinash6364

Күн бұрын

​@@andrewmurrieta936 yes even they are death proof!

@GIUL7301

Күн бұрын

2002 xterra 2004 silverado Bought new and both paid for since 2008. Perfectly maintained. We're totally dept free. Even our mortgage.

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.

@Enki1013

19 күн бұрын

He should be in "The Millionaire Next Door" book revision if he is not in the original one already.

@This.Is.My.Story.

18 күн бұрын

lol. You cracked me up 😂

@chimmychikezie7259

15 күн бұрын

10+ years after, he is STILL rich. I love that...

@GabrielDimude

11 күн бұрын

Exactly

@scitec6166

11 күн бұрын

Still got the same car 😂

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.

@sg5127

7 күн бұрын

In a market collapse, downturn, whatever you want to call it, you should add a "C" = Do Nothing

Daycare is our biggest wealth suck.

@kaylean39

20 күн бұрын

Facts!

@manflynil9751

20 күн бұрын

Is it perhaps more economical to stay home with the kids and try starting a fledgeling business from home?

@Obeserundown

20 күн бұрын

@@manflynil9751 ah yes the mythical start your own business while watching kids full time. Need dual income to afford the mortgage where we live.

@Enki1013

19 күн бұрын

@@manflynil9751 Agree, but also sometimes it is easier said than done. It can also leave people vulnerable to getting suckered into one of those MLM scams. Some companies are also trying to get remote workers back to the office but luckily there are others who have adjusted to it as the new norm. I'm not saying it can't be done though. My late uncle ran his own business from home painting people's houses. My husband at one point wanted us to be partners and run his own locksmith business but for one reason or another, it never happened and we did fine with him working at a big box store until his retirement.

@Obeserundown

14 күн бұрын

@@manflynil9751 nope need dual income to pay the mortgage. Watching children is a full time job, so there isn’t a lot of time to commit to then working another full time plus self employeed situation just to grub up the extra cash to make ends meet barely… when you have children you need a stable income.

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

@yogeshshirke8303

2 күн бұрын

me too❤❤

Bought my home in 2007 for 159K cash it was in foreclosure. It's worth 450K today. I think I did okay. I could have afforded a larger one. Only buy used cars.

@WhatIsThis-zq4hk

20 күн бұрын

If you had put $159k into the U.S. stock market in 2007, it would be worth $831k today. And you have to subtract all the maintenance, insurance, taxes, HOA fees, etc that you paid over the years from that $450k so the difference is even bigger

@hcrystalh

15 күн бұрын

@@WhatIsThis-zq4hkbut ur not subtracting money he would’ve had to pay for rent if he didn’t live in that house and the ongoing rent for the rest of his life.

@xxxxMonkeyGirlxxxx

13 күн бұрын

@@hcrystalhbut he would have saved money by not making updates and maintenance in the house, paying property taxes, homeowners insurance, etc… of course this also depends on location but most financial advisors that aren’t cons say the same thing which is it doesn’t matter how much your house is worth because you have to take out a loan or sell it to get the money. Which is pointless since the goal is to have a paid off home.

@teams3345

7 күн бұрын

I disagree on used cars.

@markgotschall2914

7 күн бұрын

@@WhatIsThis-zq4hk but you didn't add in all the overpriced rent in my area, $2K/month.

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.

@user-cg6fd4in1d

21 күн бұрын

A lot of people don't know about it. It doesn't make money for the banks.

@justiceofharlem

18 күн бұрын

A lot of people say homes are a liability but as a black man 57 years old from Harlem nyc buying a home means you escape the projects murder jails gangs drugs yea it happens everywhere but not like I’ve seen buying a home means saving your life and your children’s lives ijs

I really enjoy your content! Very smart

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!

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

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.

@GrayDuckGaming

20 күн бұрын

Expenses go up every year for homeowners as well, property taxes, maintenance, repairs. You really need to increase your income add a faster rate than living expenses.

@zuhawk15

20 күн бұрын

@@GrayDuckGaming yeah but the kids will be bouncing around to different schools.

@GrayDuckGaming

20 күн бұрын

@@zuhawk15 if you keep moving out of the school zone, yeah.

@snoopyroman3781

20 күн бұрын

@zuhawk15 if you keep making excuses instead of finding solutions you'll never grow.

@kenny1514

8 күн бұрын

I'm a single father of two that has only ever lived in apartments since being a parent over 10 years ago. Apartments are just fine. The whole needing a single detached house, is purely a want, disguised as a need fuelled by decades of marketing since the 50s in North America. And as someone pointed out above, costs increase annually as a home owner. I rent in the city I live and I own a condo apartment in another city, which is rented out. I can tell you that my homeowner's costs have increased more in the past two years, than the rent I pay for the apartment I live in. Most homeowners are not transparent about the holding and operating costs of homeownership, they only talk about mortgage payments vs rent.

Really good advices! Thanks Jaspreet

I enjoy your presentations. Plenty of wisdom and good guidance. Thanks

Thank you, Jaspreet , my financial education with your videos has been a great investment. Have a wonderful day!!

Great video, excellent comments about buying cheap for professional services, which eventually develop into having to buy twice

Great advice !!

These videos are always so great. Thanks!

Great video

Good content ❤

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

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.

Great advice across the board.

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 😮

@joe-zj8js

15 күн бұрын

Don't forget the working girls too

Yes, virtually everything I own is secondhand. It allows you to have the items that you normally would struggle to buy without finance . Look for the bargains , there are so many quality items that have been manufactured over the years, and it is a bonanza for those who know what they want and are looking at .

Jaspreet , thank you for existing ‼️ Top man ‼️

Great advice.

Great Information

Love your video

New cars are a waste. Period.

@joeylodes

21 күн бұрын

Not with my lane assist and adaptive cruise control. :) It’s like the extra guac 🥑 of driving. Haha

@User-pu3lc

21 күн бұрын

Exception: buying new in the past few years. Used prices were so close to new model MSRP it actually sense to buy new

@ecpeast8515

21 күн бұрын

@@joeylodesSometimes you can have both. Recently purchased a “gently used” 2021 Nissan Leaf with all those things at a 70% discount from new. I hate EV’s but it was a smart buy & worked for our family. Hope to drive this thang 10+yrs.

@markmower1746

21 күн бұрын

Yeah my new BMW is getting me all the chicks though. Have fun with your hand. Loser.

@maine6428

21 күн бұрын

I’ve been preaching that for years

Just graduated high school and I’m glad I found this guy, really helpful stuff

That guac price on point!

Thank You!!!!

This is one of the best episodes ever !! Thank you

Nice video maneco 👍

Well said👏👏

Jaspreet Thanks for the video You are probably about half of my age but I appreciate your knowledge and advice I haven’t been a total screwup but I needed your advice earlier 😂 Anyway thanks for your good sound advice!!

Respect wish I had this knowledge growing up

Sickening and of value. We all learned something today. Thank you for sharing and posting.

Good stuff

"Being Cheap" is what I have called "Penny wise and dollar foolish;" ie sometimes it is worth it to pay a little extra to save in bigger expenses in the long run.

Got our car for free. Bought a used prius for the long term fuel savings after selling two, a 96 and a 98 Toyotas. The car got totaled in a parking lot and the value was almost 3X what we paid. Free car, extra money!

Balance is key brother

Jaspreet, you're from Michigan?! That's awesome. Maybe I've seen you somewhere and didn't realize it 😂

@Minority Mindset - you guys are doing an amazing job. Thanks for this wealth of knowledge- I am going to sit and listen to this again with my nine year old tonight. @Jaspreet - you’re nonstop and doing God’s work brother. God bless and best wishes.

the deals are out there. i found a retired subaru shade tree mechanic. does great restorations. 08 subaru. Great condition. heated seats. power everything. i paid $8k.

I totally get that. My home is costing me money and I totally get that. It’s not making me money, but my mortgage is like $430 a month and in combination with the insurance and taxes what I am paying monthly to live in my home and you could even include utilities, but you’re gonna have to pay utilities if you’re in an apartment too, the amount it cost me per month to live in my home is significantly less than rent and at least I’ve bill my equity and that may matter in 30 years or whatever which is fine but eventually, I will pay the house off then my living per month cost and house will be a lot less it is way less than even without keeping maintenance. It’s still a lot cheaper for me to own my home because I bought an inexpensive house that’s big enough for me that I bought for $106,500. And there was no reason to buy bigger that wouldn’t make sense cause I don’t need bigger. Then again I didn’t buy the house to make money. I bought the house because it was cheaper to live in the rent and my mortgage won’t go up of course but my taxes well of course, but if you’re renting, you’re paying for the taxes through your rent so your rent still gonna go out of course, so at the end of the day for me buying a house I believe was a good financial decision, but like I said, I’m not looking at investment to make money

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

You hit the nail directly on the head 100%

Oh man, im going to use that at work! " hey boss, it just got overlooked, not my fault, have a great day"! 😂

Most American love their big houses and big cars.

@emello4you

19 күн бұрын

That's why they're broke & working till 90

If you are a business charge the market rates cheap customers are the worst they want the most for dirt pay.

THANK YOU!! I try to tell people but they say I’m crazy

House is a good investment, yes you spend money on it but in the long run you get it all back with property value going through the roof , it beats renting!!! I agree with not buying expensive cars and other senseless spending🤔

I just registered my epoxy business as an s corp. I need to purchase a truck before the end of the year because i guess you can write off 60% and it will eventually phase out. Do you suggest i get a newer truck or used?

Awesome❤

I actually believe a used 3-5 year old car in good condition normally Toyota or Honda is a better purchase then a 8 or 10k beater. Why spend so much money on something that won’t last more than 5-8 years and you will have to pay for all of the significant repairs. It’s better to get a newer car with low miles and drive it into the ground. Then sell it to people looking for a “deal”.

Emotional investing is a big one. Personally, I invest ~$1000 every month, regardless of the market direction. Either I'll get a return in 30 years, or the market will fully collapse and I'll have much bigger issues to worry about.

@LaitoChen

11 күн бұрын

😂😂😂😂

As far as the car goes, you are so correct! But, one can have their cake and eat it too. Buy a 3- 5-year-old Lexus. It's a luxury car that is built so well, that the cost of ownership (ie fixing it when it breaks) is very low. I own a 2008 ES 350. I got it with 106k miles on it, because that mileage on any car, is considered high, making the car cheaper (under $10k). But an ES will go another 100 or even 200k, easily! I've had it since 2018 and the only things I've had to do is replaced the battery and the brakes and rotors -- just normal wear-and-tear. And, in reality, most people cannot tell what model year your car is. Everyone THINKS I drive a late-model car. They never guess it's 16 years old.

One point is which no one knows is whether they can afford it or not? This remains subjective and people make bad decisions. Another is emotional buying what i learnt from my experiences

They keep increasing rent!!! Not only that, but we are responsible for maintaining the lawn, be regulated by HOA, although not having access to the neighborhoods amenities like the pool. One time the AC wasn’t working and it took them a couple of days to send out someone for repair. They hire contractors to do the job. I’m guessing they go for who is willing to do it for the cheapest price. We would have been willing to pay for repairs just to get it done but it is not our house. My friend owns a house and pays less monthly. He can also make repairs or any changes since he owns it. If, he wishes he can sell it in the future.

Never listen to a random guy on KZread? Well, you've never steered me wrong, Jaspreet! 👍🏾👍🏾

Any CA/tax guy recommendation from New York plz?

I currently live in a 3,000 sq foot house. I am currently paying far less in mortgage, insurance, property tax then if I was living in a one bedroom apartment. Location, location, location is why

My home is a money pit, never thought of it that way. But it is 50 years old. Nothing lasts forever. Payday loans are a criminal scam. CCs are a scam too. When I buy things on credit I do it with zero interest. Your 24 hour rule is a good idea. Retired but I don’t have real wealth and I am very comfortable.

What a great video, this man knows!! I can confirm it is true, my father passed away when I was very young and left me the streets to run, made some of these mistakes but learnt net worth is the only important thing that leads you to freedom, aka early retirement.

I mean leveraged real estate is always a good investment. Cash flow positive investments from international students.

A smart investor never has $118k liquid, its always in some sort of vehicle.

I love my home and my car, and yes, they are just expenses.

This is why I still live with my mother, my friends wish they could still live with their parents. I only $200 dollars a month for rent is not bad and just been saving my checks

@eunicebernard3054

17 күн бұрын

You're right😁😁Keep saving

@carollynt

9 күн бұрын

You’re not paying rent. You’re giving your parents $200 a month so you don’t have to feel guilty about not pulling your own weight.

Daycare should be up there 👆

Well I stopped paying rent when I bought my house. So I have more cash to invest in now, so in my situation it made me richer.

Jasper it I did not make video about petrodollar exit

One problem I noticed is that older retired people who live in paid off houses (and do not wish to downsize) are cash poor because of ballooning property tax, even though they may be real estate rich.

6:17 someone has been talking to the GOAT Ramit Sethi!

I was just going to buy an expensive car 😂 thanks Jaspreet, you're doing a great job!

Should we pay our house off as fast as possible? Or is that a waste of money and we should invest that money instead and have a house payment for 30 years and never be truly free until after 30 years ?

Yea… but sometimes the expensive property managers still suck.

Yeah but my mortgage payment is less than rent. I still need a place to live. I’m never living in an apartment either. Going to start making double payments soon.

Yes, yes, YES!

I gotta get a 3rd row seater by march, working hard on finding a good used 100% one with no financing

@treecowboy1100

21 күн бұрын

Toyota highlander. Not new of course. Toyota is one of the most reliable that visit the mechanic the least.

@markaword1561

21 күн бұрын

​@@treecowboy1100 thats exactly qhat im looking at

@johnfernandez5237

20 күн бұрын

I just got a used Toyota Highlander, but my 2014?Mazda is still running with over 250k miles on it I am letting my son use that one.

@justahyundai

20 күн бұрын

@@treecowboy1100that will be stolen instantly lmao

eating at restaurants to often!

I don't get it used cars were once new cars , and also if you invest in real-estate you still have to pay taxes and pay for the up keep on it so I don't see that owning a home is any difference.

Everyday at starbucks would buy a nice car after some time 🤷‍♂️

@User-pu3lc

21 күн бұрын

It would take someone 23 years saving $6 at Starbucks to buy a $50k car. The average car purchase price in the US is around $47k.

Every Tuesday I get paid from my gig work job and every Tuesday my wife gets angry at me for paying us first. I give her all to pay bills and food and rent except for 15% that I invest every Wednesday.

@carollynt

9 күн бұрын

She’s angry because it’s barely enough to run the household, not because you are saving 15 percent.

I have just been told l need 40 k for new drain piping to sewer line- trees out, and more😢

Wahe Guru!!

These are tough choices to make for most people. Folks are unsure about the future, so they are willing to risk financial ruin to live in the moment. I've bounced around from being in debt and out of debt a few times before I got serious about my finances. Now I'm ok with a relatively frugal lifestyle because I've already experienced the downside of irresponsible spending. I don't really regret the fun I had at the time, though 😂

What about girlfriends/wives and children?

May I know what happen to market brief newsletter email? I stopped receiving them few days ago.

@MinorityMindset

20 күн бұрын

We're still sending daily! Can you email us? Hello@briefs.co and someone can assist

Copy save up money and wait till your old…just work hard!!!!

Well Jaspreet, this is where I have to disagree. You save an extra 500/1000/1500 per month and put that in stocks/real estate/other investments and then do what in future ? Buy a great home at 50 ? You don’t want to wait until agr 50/60 to buy a home that you want. No doubt build wealth, but make sure to live while doing it. No amount of wealth will get you time back. Personally, I am okay with having 1000 less each month when I can stay in my dream home during my prime

Financials, oh what a beautiful Shakespearean word that’s why he created the market brief.

How is this guys still on? Advocating for a broken system, flipping the script, pointing at them charts, banging his marker like there is no tomorrow. You had me at Starbucks and extra guac. Dilution, illusion, focus on my turban. Pure magic, rethink.

The Tik Tok shop!! It really does make buying ‘stuff’ easy. 😁

How did you pay taxes for 2030 years?