Episode
5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
1:42:03
Published: Wed Mar 22 2023
Description
https://lewishowes.com/mindset - Order a copy of my new book The Greatness Mindset today!Jaspreet Singh, the Minority Mindset, is an attorney, investor, and CEO of Market Briefs. Although he didn't receive any formal financial education - he is on a mission to make financial education fun and accessible.In this episode you will learn:The 5 steps to build wealth over the next decade to escape the rat race.How the amount of money you make isn’t the sole factor for how wealthy you can become.How to properly spend your money instead of living paycheck to paycheck.How to take advantage of the tax code and use the IRS code to your advantage.The top 3 areas you should focus on in order to build passive income.For more go to lewishowes.com/1411Click below to hear Jaspreet’s previous episodes,Everything You Need To Know About The Housing Market: EP 1301Take These Steps If You Want to Become Rich - EP 1301Money Habits To Prepare Against Inflation, Market Crashes & A Recession - EP 1283The Biggest Lies You've Been Told About Money, Debt & Building Wealth - EP 1257
Chapters
The speaker shares insights on steps to take in your 30s to set yourself up for financial success, including shifting from a mindset of making money to spend to making money to invest, and the importance of focusing on long-term financial goals like retirement.
00:00 - 02:05 (02:05)
Summary
The speaker shares insights on steps to take in your 30s to set yourself up for financial success, including shifting from a mindset of making money to spend to making money to invest, and the importance of focusing on long-term financial goals like retirement.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The earlier you start investing, the more time your money has to grow.
02:05 - 06:40 (04:34)
Summary
The earlier you start investing, the more time your money has to grow. It's not just about how much money you make, but how you use it that determines your wealth.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The economy flourishes when people spend money, and this benefits individuals and businesses of all levels.
06:40 - 10:18 (03:38)
Summary
The economy flourishes when people spend money, and this benefits individuals and businesses of all levels. Consumerism encourages intelligent marketers to promote spending and generate higher profits.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The mindset of wealthy people is to make money in order to grow their money, whereas broke people tend to make money only to spend it.
10:18 - 13:58 (03:39)
Summary
The mindset of wealthy people is to make money in order to grow their money, whereas broke people tend to make money only to spend it. Building wealth requires a change in mindset towards investing in assets rather than over-spending on liabilities.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
Investing a consistent and passive percentage of your income (like 15%) in a diversified fund can help achieve long-term financial goals, like retirement or buying a home.
13:58 - 22:35 (08:37)
Summary
Investing a consistent and passive percentage of your income (like 15%) in a diversified fund can help achieve long-term financial goals, like retirement or buying a home. Despite market crashes, automatic investing can lead to an average return of around 10% per year over time.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The speaker talks about investing in ETFs and cryptocurrencies for passive income.
22:35 - 26:53 (04:17)
Summary
The speaker talks about investing in ETFs and cryptocurrencies for passive income. They suggest investing in VTI for general stocks and picking the S&P 500 for specific companies in the stock market.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The speaker shares his experience of investing in real estate and the importance of having a property management company in place.
26:53 - 31:35 (04:42)
Summary
The speaker shares his experience of investing in real estate and the importance of having a property management company in place. He also talks about the challenges and mistakes he faced while investing in real estate.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The speaker describes his experience of starting to invest in real estate without any prior knowledge or connections in the industry, and shares how he learned and grew in the field through reading and taking action.
31:35 - 34:31 (02:55)
Summary
The speaker describes his experience of starting to invest in real estate without any prior knowledge or connections in the industry, and shares how he learned and grew in the field through reading and taking action.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The speaker shares his experience managing his first rental property and how his bank account and patience were tested with thousands of tenants calling with concerns, leading to a learning curve in managing rental properties.
34:31 - 37:30 (02:59)
Summary
The speaker shares his experience managing his first rental property and how his bank account and patience were tested with thousands of tenants calling with concerns, leading to a learning curve in managing rental properties.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The speaker discusses how interest rates influence housing and real estate prices, and reflects on a past investment that taught him valuable lessons.
37:30 - 40:18 (02:48)
Summary
The speaker discusses how interest rates influence housing and real estate prices, and reflects on a past investment that taught him valuable lessons. He also shares his general rule of thumb for expected returns from real estate investments.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
This podcast episode explains how the Federal Reserve Bank's interest rates, known as the federal funds rates, can affect mortgage rates.
40:18 - 42:58 (02:39)
Summary
This podcast episode explains how the Federal Reserve Bank's interest rates, known as the federal funds rates, can affect mortgage rates. It also clarifies the distinction between interest rates and mortgage rates.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The current tax system disincentivizes businesses from saving money, as they are heavily taxed on any profits they save, leading to concerns about preparedness for a recession.
42:58 - 45:59 (03:00)
Summary
The current tax system disincentivizes businesses from saving money, as they are heavily taxed on any profits they save, leading to concerns about preparedness for a recession.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
Business owners, regardless of their company's size and earnings, should start preparing for the possibility of higher interest rates in the next six to 24 months.
45:59 - 51:41 (05:42)
Summary
Business owners, regardless of their company's size and earnings, should start preparing for the possibility of higher interest rates in the next six to 24 months. One recommendation is to consider purchasing stocks in the real estate market to generate additional income and manage their finances efficiently.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The speaker shares their strategy for investing in residential real estate, focusing on value add deals in areas with increasing demand for housing, aiming for at least a 7% cash return on investment.
51:41 - 56:00 (04:18)
Summary
The speaker shares their strategy for investing in residential real estate, focusing on value add deals in areas with increasing demand for housing, aiming for at least a 7% cash return on investment.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
Learn about how certain real estate activities can qualify you as a professional on your taxes and potentially save you money come tax season.
56:00 - 59:20 (03:19)
Summary
Learn about how certain real estate activities can qualify you as a professional on your taxes and potentially save you money come tax season.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
Learn how to increase your income and invest wisely by studying financials, reading books, researching companies, analyzing earning calls, and looking at balance sheets, income statements, and profit and loss statements.
59:20 - 1:02:53 (03:32)
Summary
Learn how to increase your income and invest wisely by studying financials, reading books, researching companies, analyzing earning calls, and looking at balance sheets, income statements, and profit and loss statements. Follow the footsteps of Warren Buffett and dedicate time every day to improve your financial knowledge.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
In this podcast episode, the speaker emphasizes that overspending on unnecessary things like designer clothes and luxury cars can hinder financial progress and suggests practical ways to stay on track with savings and investments.
1:02:53 - 1:06:23 (03:30)
Summary
In this podcast episode, the speaker emphasizes that overspending on unnecessary things like designer clothes and luxury cars can hinder financial progress and suggests practical ways to stay on track with savings and investments.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
Many people fear making conscious decisions and creating things in their lives due to fear of what others will think.
1:06:23 - 1:11:16 (04:52)
Summary
Many people fear making conscious decisions and creating things in their lives due to fear of what others will think. Overcoming this fear can lead to making wiser decisions and feeling prouder of oneself.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
A co-founder shares his thoughts on the reason why he put himself through controlled pain by facing his fears and insecurities consistently, to set himself up for more peace in the future, whereas ignoring these involves a different kind of pain altogether.
1:11:16 - 1:15:13 (03:56)
Summary
A co-founder shares his thoughts on the reason why he put himself through controlled pain by facing his fears and insecurities consistently, to set himself up for more peace in the future, whereas ignoring these involves a different kind of pain altogether.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The speaker emphasizes the importance of considering opinions from reliable sources when investing in a business.
1:15:13 - 1:20:10 (04:57)
Summary
The speaker emphasizes the importance of considering opinions from reliable sources when investing in a business. Additionally, he highlights the need to balance hard work and smart work to achieve success.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
Real estate is a beneficial tool to utilize for tax write-offs due to paper losses that can offset job income.
1:20:10 - 1:27:31 (07:21)
Summary
Real estate is a beneficial tool to utilize for tax write-offs due to paper losses that can offset job income. This method works as long as the investments yield a lower taxable income.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
The Minority Mindset founder talks about being sued over the use of the term "Minority Mindset" and also tells a story about a tenant trying to sue over a slippery bathtub.
1:27:31 - 1:31:38 (04:06)
Summary
The Minority Mindset founder talks about being sued over the use of the term "Minority Mindset" and also tells a story about a tenant trying to sue over a slippery bathtub. He emphasizes the importance of having insurance when investing or starting a business.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
This podcast discusses mitigating risk with Real Estate LLCs by using a case study that includes the benefits of owning properties through an LLC and risk management strategies in real estate investments.
1:31:38 - 1:39:09 (07:30)
Summary
This podcast discusses mitigating risk with Real Estate LLCs by using a case study that includes the benefits of owning properties through an LLC and risk management strategies in real estate investments.
Episode5-Step Formula To Invest To Retire Early w/ Jaspreet Singh EP 1411
PodcastThe School of Greatness
In this podcast episode, Jaspreet Singh discusses managing and mastering finances for the year 2021 and beyond, covering topics such as earning, making money, investing, and the current economy.
1:39:09 - 1:41:52 (02:43)
Summary
In this podcast episode, Jaspreet Singh discusses managing and mastering finances for the year 2021 and beyond, covering topics such as earning, making money, investing, and the current economy. Additionally, the podcast mentions subscribing to their greatness plus channel for exclusive bonus episodes and ad-free listening.