The majority of people make money just so they can buy things that make them
broke. I want you, Minority Mindset thinkers, to
make money so you can buy things that make you rich. What's up everybody. I am
Jaspreet Singh and welcome to the Minority Mindset. There are some things
that you can buy, or a lot of things, that make you broker. What's up guys? Check out
my new shoes. And then there are some things you can buy that will make you
richer. What's up guys. Check out my new shoe company. The majority of people make
money, and then they pay the highest taxes, and then, with whatever's left, they
use all their money to buy things that make them broke. When you live like this,
you have all your money going out and nothing coming back in. You are making
everybody else around you rich, but you are keeping yourself poor. But if you
make just a few changes, and you have the right financial education, you can make a
drastic change. That's why for the minority of people—people who think
different than the majority of people. Now, you make money, and then you'll pay
less money in taxes—legally—and then, with whatever's left, before you go out and
buy these things that make you broke—I call these things consumer expenses—you
are going to go out—got the wrong marker— and you are going to go out, and you are
going to buy investments, I'm going to put I-N-V, which are things that pay you with more money, and
then, with whatever's left, which is now more money because you have more money
coming in, you can go out and buy these consumer expenses which make you broke,
but now you can afford to do it because you have more money coming in. I don't
know about you, but I would rather live like this because this, owning investments
and having this cash flow or having this passive income, comes with wealth, and it
comes with having freedom, while living like this comes
with being broke. And that's why, today, I'm going to go over five things that you
need to own, this way, you can use your money to make yourself rich instead of
having all of your money bleed out to everyone else. But before we get into
that, make sure you hit the thumbs up button below, right below this screen, and
subscribe to the Minority Mindset YouTube channel, that way, you don't miss our new
financial education videos, every single week.
First: Own where you shop. The majority of people use their iPhones to shop on
Amazon to buy their Lululemon leggings. When you do that, you are making Apple
rich, you are making Amazon rich, and you're making Lululemon rich, but you are
keeping your bank account empty. Unless, that's unless, you use some of your money
to own a piece of these companies first. Now, instead of just shopping on Amazon,
you could be one of the owners of Amazon, or one of the owners of Apple, or be one
of the owners of the Lululemon company. Uuh, Jaspreet.
Newsflash. I don't have a trillion dollars to buy Amazon. That's the beauty
of it. You can start investing in and owning these companies for as little as
a hundred bucks. That's what stock market investing is.
You get to own and have a piece of these big companies. And if you've never
invested in the stock market before, I want you to use my rule of five for
stock market investing. For every five dollars you spent making a company rich,
spend one dollar making yourself rich first. So, if you want to buy a one
thousand dollar iPhone, great, but before you do that, and you want to be an
investor, you need to take $200 and go out and buy shares of the Apple company,
this way, you are making yourself rich, before you go and make Apple rich. If you
want to invest more aggressively, great, but this is your new baseline for
investors. When you're doing this, I want you to balance your investments with two:
commodities. As much as people hope and pray that the stock market will never
come down, and the economy will never slow down, nothing can go up forever. When
there's blood on Wall Street, people turn to commodities like gold. When you own
commodities like gold, you are protecting yourself from stock market crashes, and
economy crashes, and you know, world-ending type of situations.
You can buy the physical commodity itself, like physical gold, silver, or oil,
which is the hardest to do, or you can invest in funds or ETFs that track the
value of these commodities, or you can invest in companies that mine these
commodities. Three: real estate. You know how they say: diamonds are a girl's best
friend? Well, real estate is this investor's best friend. When you invest in
real estate, you own a physical, tangible asset. When
you buy one share of McDonald's, you don't-you can't tell them how to flip
their burgers, you don't get to control the business, and you don't get to really
manage how the business runs. For some people that's great news because they
want to be completely hands-off. For me, I want to have control over my investments.
When you invest in real estate, now, you're going to buy a property like a house,
but instead of you living in and using the house, you are going to be an investor,
and you're going to let somebody else live in this house in exchange for monthly
rent. Now, whether you're at work or sitting on a beach in Hawaii, your
tenants still have to live in and use your property, so that means they still
have to pay you rent which means you're getting paid without having to
physically go to work, so you're getting passive income, and you're getting tax
breaks because real estate has some of the biggest tax breaks that our tax code
has to offer, and you have control over your investment. The downfall with real
estate is, unlike stocks and commodities, you need a lot of money to really get
that exposure to real estate. Or at least you did. But, thanks to our sponsor:
Fundrise, you can get exposure to real estate investments with as little as just five
hundred dollars. With Fundrise, you get to invest in funds that track some of the
most prime time real estate across the United States, and you don't have to do
any of the work. You don't have to deal with tenants, fix toilets, collect rent, or
pay bills. So you're getting the best of both worlds. All you have to do is fund
your account, and then you get your share of appreciation which is growth in
property value, and you get your share of passive income from rent, and these
dividends are deposited into your bank account, every three months. Are you
guaranteed to make money when you invest? No, of course not. Investing has risks. You
might even lose money. But that's where you have to do your own due diligence.
Now, quick disclaimer. I do have to let you know that I do have some of my own
funds invested with Fundrise, at the time of the
recording this video, and I know that past performance doesn't predict future
performance, but I can show you how it has worked out for me.
So, in 2018, my Fundrise investment got me a 7.3% return, and in 2019 my
investment grew by just over 9%. Now, some of this 9.3% return is dividends,
and the other is appreciation, but these are the returns that I have gotten so
far. if you want to see all the Fundrise's historical returns, and see how you
can start investing with Fundrise, I'll put the links to where you can do that and learn
more in the description below. Minority Mindset is a partner with Fundrise
so if you use them, we will get compensated, but there's no additional
cost to you. So, if you want to learn more, and see how you can start investing with
Fundrise and to see what the historical returns have been, I've got the links for
you in the description below. Fourth: You need to buy asset protection. Listen, when
people know that you have money, they're going to try to take their hands, put it in
your pocket and take some of your money for themselves. But, you can almost button
up your pockets as a shield to protect people from trying to take your money.
Sorry for showing you my butt like that. First: buy insurance. If you start a
business, I don't care what your business is,
you need a liability insurance. Somebody threatened to sue Minority Mindset,
our company, because they used the words "Minority Mindset" back in a blog post,
sometime in 2004 or 2005, and nobody ever read this blog post, and by this time I'd
also gotten a trademark on our name, but they were still threatening to sue us. It
was a little annoying, but it would have been a big pain in the you-know-what, if
I didn't have insurance to protect me. In this world and in this economy, you can
sue anyone for anything which is why you need insurance to protect you. If you
own real estate, you have to have property insurance. Somebody sued my real
estate company because they said that the bathtub got too slippery when the
water was on. This is a true story, and I think I really should make a video on
this. If you have a life, a life, and your family relies on your income, you need to
have life insurance to make sure your family is okay. I know, no one likes
talking about insurance, but these are little
costs you can pay today that could protect you from a huge headache and a
huge problem down the line. And while you have these asset protection things in
place, you also need five: Estate protection.
Everyone needs a will. Whatchu talking about, will-is? Wills and trusts
tell the world and the government how you want your money,
your property, and your assets, distributed after you die. I know, no one
wants to think about death. But look, I'm an attorney, and if you're watching this
video, you have that Minority Mindset which means you are going to be wealthy. The
last thing you want to do is die, and then have the government come in and
decide how your assets and your money are going to be distributed. You will save
your family a lifetime of arguments, and you'll be able to sleep easier knowing
that the people you care about will be taken care of long after you're gone. The
key to have the right money flow—let me pull this back right here—to have the
right cash flow, to have the right mindset, is to one: have the right
financial education. And then, use your money to buy things that will make you
wealthier instead of just using all your money to buy things that make
everybody else around you rich. And if you want to learn more, that's why we
wrote a free e-book on money management and investing that you can read for free
when you sign up for our financial education emails. You can do that by
clicking the link up here or by clicking the link in the description below. Thank
you for watching. If you enjoyed the video, share it with one friend, that way, you can
help spread the word, and if you want to learn more about real estate investing
yourself, where you go out and buy real estate and generate passive income from
it, I already made a video on this, and you can watch it by clicking this button,
right here. Thank you for watching and as always, KEEP HUSTLIN' *