How The System Keeps YOU POOR! (Money Myths That Keep You Broke) | Jaspreet Singh on Impact Theory

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Show Notes:

With talks of a global recession on the rise, there is no better time to put your growth mindset to work. Are you ready to revolutionize the way you think about money, inflation and the impending recession?

Chief Executive Money Nerd at Minority Mindset Companies from Punjab, India, Jaspreet Singh has been putting in the work to spread financial education and opportunity on YouTube for years. The goal of this episode is to get you to understand what money really is and give you the knowledge you need to change how you’re using it in your day to day life.

The majority of people will unfortunately continue to become poor and the harsh reality for many is that they won’t even see what’s happening in time if at all. We are dedicated to pulling people out of the matrix and helping them see that human potential is nearly limitless. That includes getting people to see the objective truth about the government's role in the financial system, who the Feds are, and how wealthy, financially educated people think and use money differently from poor, financially uneducated people.

Tom openly shares his example of how you can be a good entrepreneur and bad investor from not asking the right questions. You can start turning the tables and making better decisions to not just prepare for a potential recession, but to also start building real wealth. It’s all mindset, it’s a growth mindset and a minority mindset when you’re willing to learn and understand who your teachers are.

Check out Jaspreet’s Newsletter, Market Briefs: https://marketbriefs.com/

SHOW NOTES:

0:00 | Introduction to Jaspreet Singh
0:35 | Why the Poor Stay Poor
17:03 | Thinking Differently About Money
30:45 | Save & Invest Money Smarter
44:14 | Building Wealth As A Minority
57:21 | 5 Places to Invest Money


QUOTES:

“The interesting thing about the Federal Reserve Bank is it’s called the Federal Reserve Bank, however it’s not federal, it says so on their website. They’re not a reserve, they don’t keep cash reserves anywhere. They’re not a bank! You and I can’t go there to deposit money.” [2:00]

“If you understand the system then you can use it to your advantage. If you don’t understand the systemI it is going to screw you over many, many times.” [2:23]

“Inflation is what causes the supply chain issues and now we’re trying to go backwards, but this is where the rich get rich and the poor get poorer...” [8:29]

“Inflation is a hidden tax, it’s a silent tax. It affects the people that don’t understand money, and it disproportionately affects the poor and the financially uneducated, [...] if you don’t understand this you’re going to get screwed over.” [13:53]

“I was dumb because I didn’t really care about risk, I never even looked at risk, for me it was opportunity, that’s all I saw. It was a way for me to get started.” [24:18]

“Everybody in America should be a business owner, however, not everybody should be in the business of starting a company and not everybody should be in the business of operating a company.” [28:42]

“I like to call it net zero thinking, where if I have cash I need to spend it, [...] it’s...