Thank you for watching! If you enjoyed this video, you should watch - Stock Market Investing For Beginners: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-hrx28rCKckM.html
Wait....$250 a month....what was the mortgage or was this the $13k townhouse cash purchase? I wouldn't think an ROI on a home of $3,000 a year would be a net negative for the average person though, right?
You kept saying social security will be a thing of the past, & don’t depend on the government to take care us, yet the government collects for FICA. When the government stops collecting social security taxes, then I’ll know for sure that the days of SS are numbered.
@@JC_inc 2035 is marked as the end unless FICA taxes are raised sucks how we got to contribute to it but we might never enjoy the benefits way our deficit spending is going, in a few decades half of the fiscal budgets of congress will be just for interest on the debt
Investing is a long-term strategy for wealth building. When it comes to investing, nothing will pay off more than educating yourself. Do the necessary research and analysis before making any investment decisions.
Jaspreet's videos are some of the most informative and entertaining on financials. This stuff should be taught in public schools from kindergarten -12 grade.
The stock market always has a few surprises in store, I started my investing journey 4 month ago, it’s been one hell of a ride. The stock market has its disadvantages, perhaps I haven’t been investing right.
@@cassidybarrera2472 To achieve higher returns in the stock market, besides doing more homework on the companies you wish to buy, it is often necessary to have an expert whose well grounded on the pros and cons of the market that can thus help you invest your assets to more profitable ventures.
I’ve been considering getting an expert to guide my investment decisions particularly my trades, it’s been hard getting someone profitable. You got any recommendations Noel?
It took me 6 years to reach over 100% saving rate. Yes over 100% is possible. Buy cash flowing assets. Live off the cash flow. This way 100% of your W2 (job) income can be saved for investing. Now about 60% of rental income and 100% of my income from my job are saved. I was just on BiggerPockets and went over this in my interview. 15% is a good start when you have no assets. But as you scale assets. Scale your investing.
Forex trading is very profitable if you trade with the right platform. My forex investment now yields a $12k profits on every $6k capital invested. Investing is the key that makes the rich remains richer and the poor becomes rich. It's better to invest your money and have it work for you than having it lay around the corner.
Most people wants to invests but find it difficult to invest in the right platform/assets. Some investment turns out bad, that's where the real problems lies, I'm very much interested in investing if only I can find the right platform/assets to invest.
I invest 45% of my income. I haven't increased my standards of living after getting promotions. I still drive the same corolla I did in college. Debating whether to retire early or change to a career I'd enjoy more, since my annual ROI has been getting to close to double my salary
I should have a pension when I retire but I’m pretending it’s not there and I’m investing so I have something to fall back on. Because when I retire I’m going to need extra guac 🤭
Yes! Same boat here. We both have pensions but to be honest, we are pretending it won't be there for us. On FIRE path on our own. Relying on a pension means it requires us to work til past when our bodies are capable! Keep it up, and hopefully that pension is extra!
@@ashleyjc-tryingtogetfired1056 yes!! That’s exactly the plan. I have coworkers who can’t retire yet they are tired and over teaching. I use them as inspiration because I don’t want to get to the point where I hate my job but I can’t leave.
I invested +20% for the last eight years, I am in my 30s now and am richer than my sixty year old father and should be able to leave the workforce in five to ten years. I want to do that so I can spend more time with my daughters.
I did the math the other day, apparently I have been investing over 23% of my income for the majority of 2020 and 2021 (thankful my income stayed stable). It also made me think I need to raise my income. Thinking of go back to community college and study something I can use to move up in my current company and hopefully find employment in other locations in the future.
@@Kaleb.R Not bad for your age. At least you're thinking about your future! My 18 yr old just wants to know when her next deposit from her ATM (me) is coming.
@@Kaleb.R is that your annual take-home income? You should be aiming for at least doubling that by the time you’ve your degree. Only go to school that can earn you that type of income. Look at what alumni from your major are earning. DO not go into college debt without making sure that whatever you study will get you enough to be able to save at least double of what you’re now, after paying taxes, loan payments and other expenses. Wish someone had shown me to do that math before I picked my college and major.
@@shreedhar333 I am making 29k gross. About 24-25k after taxes. So I over shot in saying just under 30k. As far as college I am thinking about going back to my local community college to study CAD/drafting and get an associate's. With the goal of becoming a draftsman in my current company, and other potential employers. I currently work as a stone mill laborer (shoveling stone dust and such). I could work in other positions through out the mill, but I figured draftsman would have a broader scope in terms of future employment else where. I am trying to avoid any college debt if possible.
Started taking investing seriously in December of 2019, I’m currently sitting on $10.7k invested in the stock market, full time security guard while in the college at 20 yrs old. Can’t wait to hit $20k 🙌🤯
The Rich become richer by spending like the poor and investing Non stop,While the poor stay poor by spending like the rich yet not making any investment.
I had a investing class in my finance class and we talked about these topics talked about in these videos. I never invested earlier because I wanted to wait until I finished college cause I knew Apple and Nintendo were going to jump up, and if I wouldn't have been scared back then I would have hustled some extra income. It is a mindset that parents also teach their kids cause I was told to stay away and so has my girlfriend. I told her I have invested and she is so nervous and wants me to pull out. Got to take risks to go anywhere and your channel is so full of good information. Thanks for all you guys do.
Yes, my parents have the same mindset, investing is bad mkay? Eventhough there's 0% rent on savings 😂 they still think you risk more money by investing than by saving, which in the long run (10 years or more) simply isn't true any more, due to inflation and very little upside on savings.
Here in Lithuania we have mandatory 12.52% contribution to pension fund. Pension is considered not enough by itself. We have then an optional 3% fund. We pay 3% and government ads another 1.5% for free (based from pre-tax income of an average worker). It is kinda meh, kinda worth it. While your money in those funds are unlikely to be better than in SP500 or other index funds, they on the other hand are tax free from your pre-tax income and you get 1.5% for free. It is kinda hard to beat non-taxed, government subsidized initiatives when it comes to free market. We also have another pension fund where we can put our money there. We can return income taxes on it at the end of an year to a certain level. My employer adds this 1.15% into third fund of my net income for free. I'm planning of joining second fund too, because hey, it is free money. So in essence I put aside 17% of my income to my pension fund. We also have mandatory health, social payments, so a lot of taxes on my income. On the other hand, that mandatory insurance is good for not screwing up you financially. It is pretty bad system, because you can't take out your money out of second fund if you do not pay a lot for it or you do not reach certain qualifications which most people will not do. First one is not technically even your money. You pay current pensioners out of your pocket due to principles of solidarity. This system is expensive which is good for long term sustainability. It also carries political weight as government is expected to pay back a certain level of pension which would be enough to maintain a certain, low standard of living. This means that government will re-adjust your pension fund worth in that 40 or more years and will insure income past that if your fund runs out. However, the issue is that my freedom is restricted by an awkward system in which I do not wish to participate. I could make a lot better future for myself if I would take care of my own pension. Now I'm saddled with heavy taxation to pay for other, less productive members of society out of my own pocket.
Applauding my choice and decision to go into Stocks and ETFs I’m fairly 7 months into investing so I’m new but started with $10000 initially growing and investing making close to $200k + in the market so far... the market can be maximized to be lucrative and thanks to Sir Eddy Bruke, my personal financial analyst whose guide and direction has been my pillar
The power of compounding money and even habits are much more powerful than people think. All of your small wins becomes big wins over time, keep your foot on the gas pedal and keep investing.
@@hyattjoshua5676 The first step of profiting in the market is understanding it neither is a game of luck or gamble. Expertism and professionalism is a major key, appealing to work with an expert round the clock for investment.
My idea of financial market online is risky and like a gamble but from your perspective I’ve come to understand it’s quite easier than that and just takes coordinated guide and expertise. Thanks I’m definitely giving it a try
Great video sir, would you mind speaking on 457b accounts. For those who are not aware, you can have a 457b along with a 403b or a 401k. Therefore, you can save up to $39,000 a year instead of $19500. And if you top it with an IRA, then add another $6000 = a total of $45000/year. Then top it with an HSA if you have access to one and add another $3600. A total of $48,600 a year. 🤓
When I was younger I only invested in my IRA and Thrift Savings Account. Now I'm building up a brokerage account while still making some smaller contributions to my ROTH.
I had a teacher tell us over 12 years ago to not rely on social security benefits and I still didn't start really investing until about a year and a half ago.. now I invest over 30% of my income and my only regret is not starting sooner. And although I'm now technically "on track" with my peers, I don't plan on slowing down until I absolutely have to.
I think you should invest as much as you can any where you can whether it be a 401K, trading account or real estate. Keep in mind that Jaspreet loves real estate but most folks cannot afford to purchase real estate due to the high barrier of entry. Long story short is as along as you're investing in something, you're doing more than most.
The biggest advice I have been given when it comes to real estate is obviously to do all your research and be smart but to network and invest in real estate with people you trust 100% who may already be in the business. I’ve found many people within my parents group of friends who are in real estate and it really helps me get my foot in the door when the time comes. But yes, I agree any investing is a great start!
I started investing in my 30s (~6 years ago) and I am currently trying to invest 50% of my income each month. I actually feel bad when I have to buy something instead of investing it :-)
Same!! I use to be that guy that treated everyone, paid for tabs, the pleaser.... thanks to covid it humble me and I have learned how to invest in the stock market. Since November 2020 I have 17 shares of Tesla and others that add up to 6k or so
I have been sticking 15 percent and getting matched 5 percent by employer in 401k for the last 28 years , 10 percent in savings ( precious metals) and managed to own 2 properties and raise 6 kids and 2 vicious ex-wifes . All on 55k a year . It can be done if your focused .
@@mariesmith504 gold and silver is obtained though local coin and pawn shops and online there are retailers like sd bullion , and others . But getting rid of credit debt should be your first objective to gain freedom .
Currently working on 50% since I got a late start on my retirement planning. Maxed out my ROTH IRA for the year. Now focusing on my 401k and investing in stock market. Might dabble with cryptocurrency. Also currently not eligible for HSA at my job, otherwise I would be working on that too.
Between IRA and 401K contribution limits in 2021 you can put aside $25,500 for retirement. If that's 15% of your income you're making $170,000/year. There's not much need to worry about government limits on contributions to retirement accounts unless you're highly compensated.
Fyi 15% after taxes is more than 15%. If you make 100k , you pay around 30k in taxes. 15 / 70 is 21%. So to invest 15% of your before tax money, you need to invest 21% of your after tax money.
I see no way that inflation isn't going to dramatically outpace salary over the next 5-10 years; especially with all the government debt from COVID spending.
Some countries like Australia has a mandatory 9.5% superannuation. Is this 9.5% included in this 15%? What about having a mortgage ? How do you stretch your dollar to balance paying off your mortgage fast v investing 15% in stocks?
You should do a video on how splitting your retirement strategy can help pay even less taxes in retirement. Like doing both a roth ira and 401k if you withdraw 80k a year and pull 40k from each your annual taxable income in retirement will be 40k since the roth ira money is already taxed. So you get the benefit now for less taxes on what you put in the 401k, and later you pay less from the ira making your taxable income much less
@@jojojames217 Apply to Duke Energy. That's who I work for. I can't get you into the door but they will start hiring externally again sometime this year and I'm sure you can get in if you try :)
Over the past year I’ve been investing in the Stock Market & I’m pretty sure I invest more than 15%. On a monthly basis I only hold a maximum of $2,000 in my checking account that’s used for rent, expenses, & whatever else. Whenever I go over $2,000 it goes straight into the Stock Market & doing some math yesterday I averaged my monthly gains/losses to +$923/mo for over the past 12 months I’ve been investing in stocks
@Muddobber McCrablice I'm getting the minimum amount and I'm just using it smartly by rent hacking and eliminating unnecessary expenses. Isn't making your money go further exactly what Jaspreet is saying?
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation in Paris just yet and that mindset helps me make more money investing. For example last year I invested 70 grand in blue chip stocks (with the help of my advisor of course) and made about 380k, but guess what? I put it back and traded with her again and now I'm rounding up close to a million.
Informative channel, really liking your content. If possible, could you do a video on your thoughts regarding investing using Roboadvisors? Is it safe? For whom? Pros and cons etc etc. Thanks
Hi, do you have any videos in where you show us where can you invest for good interest without going to brokers and paying fees, maybe paying (hopefully 5% or more ) without risking the money invested..I'm afraid of the stock market, I want to be able to put my money to earn interest but not losing it..is there anything like that.I hear of compound interest, but I am not sure of what it is or where I can invest in that...I'm learning as I go I guess...I thank you so much for your videos.
I watch many financial channels and rarely subscribe. Minority Mindset is educational, enjoyable and worth the time spent! Full disclosure, I subscribe to only one other channel......
You might want a lot of money till you’re like 70 or so but after you hit like 80 chances are your lifestyle will slow down significantly and your spending will too. Something to consider.
How can I justify buying a new iPad for school and work, knowing that I do have the money, will not be left broke and it will even help increase my work efficiency? Are there any tips you guys wanna suggest to me? Or a goal before I should buy it? The price of the iPad with accessories and everything to ensure it’s a one time purchase btw is about $1000
This is spot on Juspreet! Many ppl will think you're cheap if you decide to invest in vest your money instead of giving it to greedy family or friends. Keep investing at least 15% my people to build your wealth
I’m a Mexican and this is definitely not how we work. We definitely do have some cultural expectations to help fund weddings or other key events usually in line with the Catholic Church, but other than that our money is ours and we’re not expected to give it to friends.
Where's the TWO THUMBS UP button?! I've been watching Jaspreet Singh's videos for some time but this one has to be shared. Simply phenomenal. I could go on an on describing how well this video explains the basics but just watch it all, absorb it, live it :-)
I invest 7% of my salary. Employer gives me 14%. That 21% then goes into a retirement fund that guarantees 5% annually. (TMRS) I also contribute to an HSA account that draws interest and a portion of that is invested into a retirement account. I also pay into social security. On the side I process firewood to sell for extra income to invest. I have saved about 25000 cash and I'm unable to decide where to invest it.
Advice to Older Millennials - "Stop buying that $5 coffee." Advice to Younger Millennials - "Stop ordering the extra guac." I guess that inflation has hit us just a bit. lol
I'm in the situation where I contribute 29% to my 401k because there's not another investment opportunity I could realistically get into with the same amount of money that would be worth forgoing the tax benefits. If real estate were cheaper by a factor of around 8 or 9 it might make sense to try to buy property, but it's so expensive beyond anything I could afford I just don't see that it makes any sense to do anything but buy more tax sheltered mutual fund shares.
@@goodone8041 I bought a cabin in the woods. I have free firewood, water and food if I want. I spend my days investing in myself by learning things that have true value. I also invest my savings weekly in the stock market.
In your last video you pretty much laid out how it was impossible for millennials to save . Now youre saying you need to invest 15% of your income . LOL.... Comparing 50-60 years ago is totally irrelevant . People literally dont have even 5% to invest . average income 1960 - $6k average home price - $12k average income 2020 - $52k average home price - $280k Literally the majority of people are living paycheck to paycheck after their 401k contributions . Youre not giving anyone any advice that isnt already known . People LITERALLY juts cant afford to do it . Not unless you want to live in the ghetto and drive some unreliable pos careveryday .
The first time I heard you say "below" I was like "ewww gross". But the more I hear it, the more I look forward to you saying it and now I say it with you when I anticipate it coming!! LOL
