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

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Published 2022-07-25
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.

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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

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All Comments (21)
  • @user-bf2lh9ok2i
    The fact that nobody talks about the forbidden book Scarpure money speaks volumes about how people are stuck in a trance
  • @dubyyax5493
    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.
  • @LukeHarris234
    I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
  • @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
  • @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.
  • @Emmahernandez.
    I find myself rueful for neglecting stock investments until now, yet I'm appreciative of retaining funds in the money market. With approximately $200k set to mature shortly, I'm considering delving into the stock market. What stocks would be prudent for a newcomer like me to securely nurture my finances?
  • @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?
  • @RobertBrown..
    I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
  • Thank you for having me on Jay! it was an honor 🙏🙏🙏
  • @Evelyn-gv8jy
    I'm 54 I and my spouse  are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for*
  • @SteveDutton-v
    Buffett and Munger 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.
  • @Isael-qk5rz
    There have been plenty of questions about why interest rates have not yet been cut, with the rate of inflation dropping sharply.
  • @mikejaxon8696
    I want to invest in the crypto market I need a reliable broker that will help me trade my coin and make profits Any recommendations?
  • as soon as I heard "if you don't understand money you will be at the mercy of people who have money" ... I was like yea... let me get my note book out. Great interview, great information, Jay Shetty you never miss.
  • @oliviaralston1
    You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K in a meme coin from just few months ago and now they are multimillionaires......
  • God bless you Jaspreet Singh, many stopped wearing turban even in punjab thinking that it hinders their career growth, you are keeping it even in US, our best wishes are with you. Thanks Jay for giving Sardar an opportunity at your podcast.
  • @yung1448
    Jay and Jaspreet are amazing. “How to secure wealth”
  • @AlvarezRamires
    I often wonder how successful investors are able to make millions of $$ from trading stocks. Im completely new on this area of investing. Long story short I have a couple thousands saved up which i want to invest for long term and I know this sounds a bit dull but, I would like to know what advice you could give to start my investing journey
  • I am 20 and I feel myself lucky to watch this video. “ I WANT TO GROW & I WILL GROW”.
  • I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Veronica Hoy.