Episode
The 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327
49:21
Published: Mon Oct 03 2022
Description
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:Jaspreet’s six-step formula to becoming wealthy.Questions to ask yourself before you make a big purchase. Why you should increase the amount you are investing.The details and strategies for how to best use a savings account.For more, go to lewishowes.com/1327Click 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 Minority Mindset's wealth formula breaks down the steps to retiring in 15 years into a simple mathematical equation of income minus expenses equals investments plus savings.
00:00 - 04:13 (04:13)
Summary
The Minority Mindset's wealth formula breaks down the steps to retiring in 15 years into a simple mathematical equation of income minus expenses equals investments plus savings. The key to achieving this goal is to change your mindset and believe that it is possible.
EpisodeThe 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327
PodcastThe School of Greatness
By investing $6,200, which is the average household credit card debt, with a 29% return over the next 45-46 years, one can retire with $20 million.
04:13 - 10:08 (05:55)
Summary
By investing $6,200, which is the average household credit card debt, with a 29% return over the next 45-46 years, one can retire with $20 million. Financial education is crucial in avoiding credit card debt and starting early on investment strategies.
EpisodeThe 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327
PodcastThe School of Greatness
This podcast shares the top three reasons why you should save money: for an investment, for an emergency, or for a big purchase.
10:08 - 13:41 (03:33)
Summary
This podcast shares the top three reasons why you should save money: for an investment, for an emergency, or for a big purchase. The hosts discuss the strategies of paying off debts and saving money and how hiring a financial advisor may help make the best financial decisions.
EpisodeThe 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327
PodcastThe School of Greatness
Real wealth is built through investments, not savings.
13:41 - 19:47 (06:05)
Summary
Real wealth is built through investments, not savings. After hitting your emergency fund goal, it's important to put your money towards investments instead of spending it all on material items.
EpisodeThe 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327
PodcastThe School of Greatness
The speaker offers advice on how to achieve financial freedom, emphasizing the importance of paying off one's mortgage as a top priority.
19:47 - 25:45 (05:57)
Summary
The speaker offers advice on how to achieve financial freedom, emphasizing the importance of paying off one's mortgage as a top priority. The speaker also suggests understanding the difference between being able to buy versus being able to afford something and following the rule of five when making purchase decisions.
EpisodeThe 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327
PodcastThe School of Greatness
Learn how to manage your expenses, put your extra money to work, and increase your income by providing value to your business.
25:45 - 30:17 (04:31)
Summary
Learn how to manage your expenses, put your extra money to work, and increase your income by providing value to your business.
EpisodeThe 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327
PodcastThe School of Greatness
Summary
The author has been a victim of that too.
EpisodeThe 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327
PodcastThe School of Greatness
The speaker discusses the cultural aspect of giving she grew up with and how it can conflict with setting financial boundaries with family and friends in need.
34:56 - 40:53 (05:57)
Summary
The speaker discusses the cultural aspect of giving she grew up with and how it can conflict with setting financial boundaries with family and friends in need. She shares personal experiences of being generous while also being straightforward and protecting her own financial interests.
EpisodeThe 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327
PodcastThe School of Greatness
It is crucial to have a good accountant and tax advisor who can help in dealing with the changes in tax laws, IRS agents, and asset protection.
40:53 - 47:34 (06:40)
Summary
It is crucial to have a good accountant and tax advisor who can help in dealing with the changes in tax laws, IRS agents, and asset protection. Estate planning is also important to ensure that the wealth built is protected in the long run.
EpisodeThe 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327
PodcastThe School of Greatness
The podcast hosts recommend a few resources for financial education including the Minority Mindset YouTube channel and website, Market Briefs newsletter, and their own channels.
47:34 - 49:03 (01:28)
Summary
The podcast hosts recommend a few resources for financial education including the Minority Mindset YouTube channel and website, Market Briefs newsletter, and their own channels. They encourage listeners to subscribe and leave suggestions for future content.