The Savings Expert: Are You Under 45? You Probably Aren’t Getting A Pension! Do Not Buy A House! This Is Probably Why You’re Broke! - Jaspreet Singh

Jaspreet Singh (0:00)

We have to get over these money myths that you can't build wealth if you rent where you live. You can't build wealth if you don't have access to millions of dollars. That's not true. And there's one key thing. That's giving much better returns than any real estate, than any stock, than even any crypto-crypt. So let's talk about the real way to build true wealth.

SPEAKER_2 (0:18)

Jaspreet Singh is the no-nonsense financial guru, realtor and entrepreneur, whose methods have helped millions of people solve their crippling money problems and unlock financial freedom.

Jaspreet Singh (0:28)

People don't like when I say this, but I don't say what I say to make friends, I say what I say to help people be better with money. There's a lot of people that are lacking financial education. And we're taught, study hard, get a good job, and if you continue working down that path, you're going to become successful. You have most people buy a house they can't afford and statistically are living paycheck to paycheck. In fact, that's 78% of Americans. Because ironically, the key thing that keeps so many people poor for the rest of their life is they're scared to look broke. So what do they do? They drive around in nicer cars, go on better vacations, enter the nicer restaurants, but they no longer have money to save, they no longer have money to invest. And the problem is, we need about $1.8 million to retire comfortably.

Steven Bartlett (1:08)

Wow.

Jaspreet Singh (1:08)

So if you are in the financial danger zone, which is you don't have $2,000 saved up for an emergency, and you have credit card debt, you have to make drastic changes.

SPEAKER_2 (1:16)

Today, so what do I do?

Jaspreet Singh (1:17)

Well, the first thing you gotta understand is the 75-15-10 plan, which is... And now let's dig this a little bit deeper. And let's talk about making money. I put my money in five places. That has been proven to win.

Steven Bartlett (1:31)

I find it incredibly fascinating that when we look at the back end of Spotify and Apple and our audio channels, the majority of people that watch this podcast haven't yet hit the follow button or the subscribe button. Wherever you're listening to this, I would like to make a deal with you. If you could do me a huge favour and hit that subscribe button, I will work tirelessly from now until forever to make the show better and better and better and better. I can't tell you how much it helps when you hit that subscribe button. The show gets bigger, which means we can expand the production, bring in all the guests you want to see and continue to do in this thing we love. If you could do me that small favour and hit the follow button, wherever you're listening to this, that would mean the world to me. That is the only favour I will ever ask you. Thank you so much for your time. Back to this episode.

Jaspreet, who should care about your message and why should they care?

Jaspreet Singh (2:20)

Anybody who uses money, which is everybody.

The interesting thing about money is we use money every single day. It costs money to eat and it costs money to feed other people. Yet, most of us are never taught about money. So most people say, money doesn't matter. I shouldn't think about money. I shouldn't have to worry about money. Money is bad. Money is evil. When in reality, it costs money to eat and it costs money to feed other people. And when you don't understand that, now, you're the one that's going to be paying the highest taxes. You're the one that's going to be struggling to pay your bills. You're the one that's not going to be able to go to Disney World. You're the one that can't pay for that amazing gift for your wife or your husband. And you're the one that can't pay for the health care for your parents. And you wonder why. And in this economic system that we all live in, money talks. And unless you understand that, you're never going to be able to win in this system.

Steven Bartlett (3:21)

What is the difference between people who figure out how to make themselves wealthy and those that don't? If we put all objective advantages aside, rich parents, inherited lots of money, all these kinds of things, what is like the fundamental difference that you've seen from the many, many hundreds of thousands of people that you've worked with and taught and that have consumed your content? What is the fundamental?

Jaspreet Singh (3:43)