The 6-Step Formula To Create Wealth w/ Jaspreet Singh EP 1327

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 Get more from Lewis! Get my New York Times Bestselling book, Make Money Easy! Get The Greatness Mindset audiobook on SpotifyText Lewis AIYouTubeInstagramWebsiteTiktokFacebookX

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Jaspreet Singh?

  So this is where you want to create a financial system and start investing your money. Because your savings will never make you wealthy. You cannot save your way to wealth. You have to.

• 0:09Lewis Howes?

  Welcome to the School of Greatness. My name is Lewis Howes, a former pro athlete turned lifestyle entrepreneur. And each week, we bring you an inspiring person or message to help you discover how to unlock your inner greatness. Thanks for spending some time with me today. Now let the class begin.

• 0:33Lewis Howes?

  So if someone wants to become financially free to be able to retire within 15 years.

• 0:40Jaspreet Singh?

  Yeah.

• 0:41Lewis Howes?

  I want to talk about that.

• 0:42Jaspreet Singh?

  Sure.

• 0:42Lewis Howes?

  I want to talk about it at different stages of life. If you're in your twenties to your thirties, if you're in your thirties to your forties. I want to talk about that. What would be like a step-by-step approach from first the mindset standpoint, which is your thing.

• 0:56Jaspreet Singh?

  Yeah.

• 0:56Lewis Howes?

  Thinking of the mindset, okay, I want to retire in 15 years. How does this think to then the actual actions that people need to take.

• 1:03Jaspreet Singh?

  Sure.

• 1:04Lewis Howes?

  In order to get there? And what does retirement actually look like?

• 1:08Jaspreet Singh?

  That's a good question. So let me, I'm gonna give you a quick formula and then I'm going to break it down. Because I have created, it's not very complex, but I created this wealth formula. Which breaks it down into a very simple, almost mathematical thing. Where it's, you take your income, you subtract your expenses, and that equals your investments plus your savings.

• 1:29Lewis Howes?

  Income?

• 1:30Jaspreet Singh?

  Plus, income minus expenses equals your investments plus your savings. So if you want to become wealthy, it ultimately comes down to having more investments. Your savings are not there to make you wealthy. They're there to protect you against an emergency. Your investments are what make you wealthy. So if you want to become wealthy sooner, or if you want to become a wealthier.

• 1:51Lewis Howes?

  You need more investments.

• 1:52Jaspreet Singh?

  You need more investments. How do you do that? Well, if it's your income minus your expenses, it's basic math. Either increase your income, decrease your expenses, or do both.

• 2:02Lewis Howes?

  Right.

• 2:02Jaspreet Singh?

  So that's the ultimate formula. So now if we talk about, let's break it down step by step on how do you actually do it? Six steps. And this is, no matter what age you are, these are the six steps that you want to follow.

• 2:12Lewis Howes?

  Before you get into the six steps.

• 2:13Jaspreet Singh?

  Yeah.

• 2:14Lewis Howes?

  What is the mindset that someone needs to think about?

• 2:16Jaspreet Singh?

  Step number one is build the mindset.

• 2:17Lewis Howes?

  Ah, my man.

• 2:19Jaspreet Singh?

  So step number one is you need to have the right mindset. And so this is why I call myself the minority mindset and you know, the brand minority mindset. Because it's all about thinking differently than the majority of people. Because if you follow what the majority of people do in eighty to ninety percent of situations, you're probably doing something wrong.

• 2:36Lewis Howes?

  And you'll be in debt and you'll be paying off debts and loans for the rest of your life.

• 2:39Jaspreet Singh?

  The majority of people are broke. The majority of people are living paycheck to paycheck. The majority of people are drowning in debt. The majority of people have zero to no investments. The majority of people are unhappy. The majority of people are miserable and the majority of people do not like their jobs. This is not me exaggerating. These are all statistical numbers where more than fifty percent of people feel this way. And so if now you keep doing what everybody else does, you're going to end up like everybody else. And so this is where now you want to think a little bit different and try to find what's right for you and try to get educated yourself. Because when it comes to the mindset, the first thing you have to understand is that it is possible. Because if you're sitting there saying, it's not possible for someone like me.

• 3:20Jaspreet Singh?

  Somebody who has my background, my parents, my whatever, I can't become successful. I hundred percent guarantee that you will not be able to become successful. You cannot change your outcome without changing your mindset.

• 3:35Lewis Howes?

  Oh, that's big.

• 3:35Jaspreet Singh?

  And in the previous interview we had, we talked about mindset versus toolset. Where most of the times we assume that the reason why we can't become successful is because we lack the toolset. When in reality, for ninety percent of people, it's lacking the right mindset. Because when you have the right mindset, you'll discover that the toolset is right around you. So it's first believing that you can do it. Because once you know and believe that you can do it, that belief is gonna then impact your decisions. Because now if you say, you know what, yeah, maybe I can become successful. What are you gonna do? You're gonna go onto YouTube, watch videos. How do I become successful? And you start watching videos. Maybe you start binging bitchy videos. And now you start to realize, oh, okay, I can start to do this. I can change this about my life. I need to change the way I think. I need to change my actions.

• 4:20Jaspreet Singh?

  I need to do more things in my day. I need to stop watching so much Netflix. I need to do this. Then maybe you start reading books. And now you start reading business books. Because I have read a lot of business books and there's so much wealth in a twenty dollar business book. Just go on to Audible, look at some of the top business books and just start reading them. And you will learn so much. Now you start reading, then maybe. You start doing a little bit, maybe you don't succeed too much, but you start taking some action and you start to learn even more because your experiences are some of the best teachers in the world. Even if you make mistakes, I have learned from my mistakes. I didn't have a mentor, I didn't have guidance, I didn't have investor family members, I didn't have people telling me how entrepreneurship works. I screwed up a ton, just like you. We made a ton of mistakes and that's how we learned. And then maybe you go and take a class.

• 5:06Jaspreet Singh?

  Now you're like, okay, I want to learn how to do this. I'm trying to build this business, I'm doing something wrong, I'm trying to get a better job or I'm trying to get a raise, I keep doing something wrong. You've read books, now maybe you find a class, you invest some money in this class and now you have more education, now you try more and now you start to see over time. Oh my God, 12 months ago, I had no idea, I didn't even believe that I can do it. Now that I believe that I can do it, I started watching YouTube videos, I started reading books, I started taking classes, I started taking action. And then you keep doing it. Maybe you hire a coach, maybe you hire a consultant, I mean, the list goes on and on and on of what you can do, but it all first starts with the mindset because if you tell yourself you can't. Your mind shuts down and you're never gonna find an opportunity, you're never gonna look for the opportunity.

• 5:46Jaspreet Singh?

  So that's where the mindset is the most important thing and if you don't have the right mindset, this is where the first thing you want to do is start learning. How do I build self-esteem? How do I build my confidence? How do I believe in myself? And there's, I don't have a ton of videos on this, I know you have a ton of videos on this, watch Lewis's stuff, right? So start there. Then we go a little bit deeper now, we're focusing on the finances. Mindset is number one. Mindset is number one. The second thing now, once you build the right mindset, is you want to create your financial base. And the best way to understand this is just to think, if you wanted to build a house, what do you do first? Well, you gotta, you gotta build the foundation. If you want a bigger, bigger house, if you want to build a bigger house, you want to dig a deeper foundation.

• 6:30Jaspreet Singh?

  You want to build a tall building, you need an even deeper foundation. So you have to start by building your financial base and what that means financially is first. You wanna save two thousand dollars at the very least, you wanna put aside some cash for savings as fast as possible. Because right now, it's something like forty to seventy percent of Americans don't have. Well, forty percent of Americans don't have a thousand dollars to put aside. And something close to seventy percent of Americans don't even have four hundred percent, four hundred dollars. Put aside to protect them against an emergency. So the, you know, most Americans don't have a thousand dollars to put aside.

• 7:05Lewis Howes?

  Get a two thousand dollar base.

• 7:06Jaspreet Singh?

  Start with two grand as fast as possible.

• 7:08Lewis Howes?

  Yep.

• 7:08Jaspreet Singh?

  And then you need to cut the financial bleeding. That means your high interest debts, your credit card debts, your hard money loans. Your zero percent APR loans, which are now charging you twenty to twenty-five percent. These need to be paid off as fast as possible because these are loans that are skinning you alive financially.

• 7:30Lewis Howes?

  So, I mean, it seems like credit cards are one of the biggest things that hold people back.

• 7:34Jaspreet Singh?

  Look, credit cards, credit cards are a tool. They are a tool.

• 7:39Lewis Howes?

  If you're not educated with them, you can get stuck.

• 7:41Jaspreet Singh?

  If you have this tool without the education, it will burn you. I only spend with a credit card. I spend a lot of money with a credit card. Because I know how to use a tool. And now because I know how to use my credit card, what happens? Well, I don't spend more than I would otherwise because I use my credit card just as a medium of exchange. I'm gonna spend this money anyways, might as well use my credit card.

• 8:00Lewis Howes?

  And get the benefits.

• 8:01Jaspreet Singh?

  Gives me perks. It gives me cash back. It gives me fraud protection. It gives me free insurance. It gives me hotel upgrades. It gives me all these things just because I use my credit card instead of paying with cash. And so now, again, it's the financial education because now some people will say, oh my god, these credit card companies are scams. Well, the reason why they're looked at as scams is because we don't have the right education on how to use them. Right? It's a tool without the education on how to use it. And this is where now you have to build that financial education and many times. You're gonna have to go out and do it yourself because your credit card company is not incentivized to give you the financial education because they're gonna make less money. Right? It's profitable to keep people poor. It's profitable to keep people financially uneducated because now

• 8:46Jaspreet Singh?

  if you just keep spending money in your credit card because you have no idea what you're doing, now your credit card company is gonna get rich. The average household in America has sixty-two hundred dollars with the credit card debt. So if you have credit card debt in America, you probably have an average of sixty-two hundred dollars. Now, let's talk about that because if-

• 9:04Lewis Howes?

  And what's the interest on that?

• 9:05Jaspreet Singh?

  Well, that's at fifteen to twenty-five, twenty-eight percent.

• 9:08Lewis Howes?

  So every month, every month you're paying that?

• 9:11Jaspreet Singh?

  You're paying it every month.

• 9:12Lewis Howes?

  So it's not six thousand a month, it's really, you know, over years, if you never fully pay it off, you're just paying more and more and more.

• 9:18Jaspreet Singh?

  And the interest rate on your credit card isn't fixed rate, it's variable interest rate. So as the Federal Reserve Bank raises interest rates, the interest rate on your credit card also goes up. So if you are twenty-one years old right now and you invested sixty-two hundred dollars, which is the average household credit card debt right now, if you invest sixty-two hundred dollars right now and you got a twenty percent return on your money, and you did that for the next forty-five, forty-six years, you are going to retire with twenty million dollars. Twenty million dollars, and you never invest another penny again.

• 9:50Lewis Howes?

  Say it more time?

• 9:51Jaspreet Singh?

  If you invest sixty-two hundred dollars today and you never invest another penny again.

• 9:56Lewis Howes?

  At twenty-one?

• 9:57Jaspreet Singh?

  At twenty-one, and you get a twenty percent return on your money, you're gonna retire with twenty million. Now, you're gonna say, "Just believe, what in the world am I gonna get a twenty percent return on my money year after year?" You're right, but your credit card company is doing it every single day.

• 10:08Lewis Howes?

  Wow.

• 10:08Jaspreet Singh?

  They're charging you, and so when you have that sort of credit card debt, that's you making your credit card company richer. Now, you know, whether or not you think it's a scam, look, let's move past and understand what's going on. That way now you can use it to your advantage. Because I get tens of thousands of dollars worth of cash back every year from my credit card company because I use it as a tool and I understand how to use it. And this is where, look, if you don't wanna use a credit card, it doesn't matter.

• 10:35Lewis Howes?

  Right.

• 10:35Jaspreet Singh?

  But just don't, if you have credit card debt, you have to pay that off because that is skinning you alive right now. Understand the financial education aspect. So that's the first thing you wanna do is create your financial base.

• 10:45Lewis Howes?

  Mm hmm.

• 10:45Jaspreet Singh?

  So you gotta save some cash and you gotta pay that credit card debt off.

• 10:50Lewis Howes?

  Cut the financial bleeding.

• 10:51Jaspreet Singh?

  Cut the financial bleeding.

• 10:52Lewis Howes?

  What's the strategy if you got three credit cards? What's the strategy to get rid of that debt?

• 10:56Jaspreet Singh?

  So Dave Ramsey is gonna tell you to do something called the snowball method.

• 10:59Lewis Howes?

  The smallest first?

• 11:00Jaspreet Singh?

  Smallest first to the biggest.

• 11:02Lewis Howes?

  Cause you're building momentum, right?

• 11:03Jaspreet Singh?

  A financial advisor may tell you the opposite, do the debt avalanche, which is now pay the highest interest rate first. And then go down because now you're gonna pay off the most interest first. So it costs you the most money in the long term. The reason why Dave Ramsey recommends the snowball method is because psychologically, when you get those small wins of paying something off, you feel like you're winning and you can pay it off faster.

• 11:25Lewis Howes?

  Yeah.

• 11:26Jaspreet Singh?

  A advisor is gonna look at the math and say, hey, look, these numbers are telling me that pay off the higher interest rate first because it's gonna save you the most money over the long term. Which one's right? Again, I'm not gonna say which one. Do what's best for you. Because I know if I was in a situation, I'm not. I like the idea of paying down the heavy interest rate first because that's how my brain works. I don't need the small wins like that. I can work for the long term. I think, you know, the entrepreneurial mindset where you know, I know how my mind works. So I understand myself. And this is just honestly being open and honest with yourself. If you can't stay true with it, then do the snowball.

• 12:02Lewis Howes?

  Yes.

• 12:02Jaspreet Singh?

  It does not matter. Screw paying it off a few months early, just get it away and pay it off as fast as possible.

• 12:09Lewis Howes?

  Cut out, cut the financial bleeding and have a $2,000 base. That's step two, okay?

• 12:13Jaspreet Singh?

  That's step two. Now, the next thing you wanna do is what I call lead your money. So this is where you wanna create a financial system and start investing your money. Because your savings will never make you wealthy. You cannot save your way to wealth. You have to invest your money. Your savings won't make you wealthy because of what we've talked about in previous interviews, inflation.

• 12:33Lewis Howes?

  You're losing money in the savings.

• 12:34Jaspreet Singh?

  If inflation is higher than the interest rate you're getting at the bank, then your savings are effectively making you poorer each and every day. Because your savings are losing value to inflation. Now, does this mean you should not save any money? No. It means you need to save your money strategically. So you wanna save your money for three reasons and three reasons only. Save your money for an emergency. Save your money for a big purchase. If you wanna buy a car, you wanna buy a house, you wanna buy a nice watch, whatever you wanna buy, you need cash in order to do that. And then three. Save your money for an investment. If you're not saving your money for one of these three reasons, you're saving your money the wrong way. And it is making you poorer by saving that money.

• 13:17Jaspreet Singh?

  So now we're focusing on the first aspect of saving your money for an emergency. How much do you save? This is now again going to depend on your risk tolerance. You want to save somewhere between three to 12 months worth of your expenses. And the amount of money you save is going to depend on where you are in life and how much risk you're willing to take on. If you're like, hey dude, I'm, I'm 25 years old. I don't have any financial responsibilities. I don't need that much savings. Fine, save a few months worth of savings and that's it. Invest more aggressively. If you're like, hey, I have a family, I have kids, I have a spouse. I don't want to take on all this risk, then save six months, nine months, a year's worth of savings. Because now it will give you that peace of mind that you have some extra cash put aside. So it's going to depend on your risk tolerance and what you want.

• 14:02Jaspreet Singh?

  But this, in this lead your money step, this is where you want to understand that there's more to putting your money aside than just saving your money. You also want to be putting your money to work. And the best way to do this is to create a system where no matter how much money you're making, you are going to proportionately continually invest and save based on your income. So what does that mean? Well, one of the simplest things you can do is follow something like A percentage. My 75, 15, 10 plan, which means for every dollar that you earn, 75 cents is the maximum that you can spend. 15 cents is the minimum that you invest and 10 cents is the minimum that you save. And this never changes with your income.

• 14:44Jaspreet Singh?

  The only thing that you would ever change is after you hit that savings goal for your emergency savings, you don't keep saving your money for the emergency because you built that whatever months you want, you put that towards your investments. Yes. And now whether you're making 40 grand, 400 grand, 4 million, 40 million, you just keep following the same thing. And you're living below your means and now you're constantly putting monies aside for your investments. Now again, we talked about this before. This investment money can either be passively invested, all of it, or you can put this money aside to be invested. So you can put this money into a bank account, you're looking for a rental property, you're looking for a business to buy, you're looking for a cheap stock to buy. This now depends on know your investment goals, right?

• 15:28Jaspreet Singh?

  Where do you want to be invested? How do you want to invest your money? And this is that financial education now of, you know, what do you want to do? And your personal goals. If you don't want to be involved with your money, you don't want to be, hey, day to day investing or paying attention to the markets. You hate that idea, just passively invest it. Right. Put it into low-cost ETFs, index funds, and don't even worry about it and let it do its thing. You don't change it whether the market's up or down. So this is where now you're putting your money to work. Leading your money, because real wealth is built through your investments, not through your savings. Uh, because you don't want to be spending all your money either. Because if you're spending all your money on the Gucci, the Louis Vuitton, the Beamers and the extra guac, well, guess what? Gucci's making money, Louis Vuitton's making money, Chipotle's making money,

• 16:13Jaspreet Singh?

  Beamers, BMW's making money, but you're the one that's making all of them rich. And so if you say, I want to become wealthy, but you have no savings, and yet you have all this nice stuff, you look rich, but the stuff that's looking rich is making you broke. Making you broke, yeah. So, you know, you're paying the price to look rich, which there's nothing wrong with that, but you just have to understand what your goals are. If you say, hey, I don't really care about building wealth, I just want to have my stuff. It's a free country, it's your choice. But if you say, I want to have wealth, you have no investments and you're spending money on all this stuff, this is where you want to rethink what you're doing and understand what it is that you want and make sure that your actions are aligning with your goals, your lifestyle is aligning with what you want to do. I mean, you can't keep lying to yourself.

• 16:57Jaspreet Singh?

  That's why you should put your money not in buying the bag, but in buying the stock every month. Exactly, exactly. Own the company, own the places where you're spending your money. And, you know, again, there's nothing wrong with having nice stuff. Right. What I'm trying to say, what I'm trying to say, just, just be able to afford it. Yeah. You know what? Don't go on your credit card with it, yeah. Don't go on your credit card with it. If you, you want a nice watch, you want a nice house, you want a nice car, fine. Just make sure you can afford it first. Right. And this brings me now to the next step, which I call interest-free living. And now, this is where we're going to go a little bit deeper of, how do you actually spend your money? Because in the American culture,

• 17:40Jaspreet Singh?

  It is very normal to be in debt. It's very normal to buy things that you can't afford. And before it was with credit cards. Now it's with this new thing called buy now, pay later. I'm an entrepreneur. I'm very much involved in the financial space. I'm very much involved in the fintech space. Buy now, pay later over the last couple of years is arguably the fastest growing sector in fintech. They're crushing it, right? They're crushing it. I have not invested any money into buy now, pay later apps because I don't believe in it. However. It's putting more people in the debt, kind of. The way that they work is you can buy something now and worry about the price later. Now, the pitch to consumers, to people is, well, you don't have to pay any interest.

• 18:25Jaspreet Singh?

  Kind of like the housing market back in the day. Right? It rhymes. It rhymes, history rhymes, right? But the whole idea that they say you don't got to pay any interest, just pay it off for, say, twelve months or six months. Which doesn't seem like a bad idea. Why would I want to pay a thousand dollars for a laptop today? If I could just pay it off in installments and not pay any interest for the next twelve months? Yeah. Well, if that's the case, why is it such a fast growing industry? I mean, no one's going to invest billions of dollars into something if they're not going to see any sort of financial return. I mean, they got to, the most expensive kind of money is free money. So if they're giving you money for free, how are they gonna make money from it? Well, this is where we dig a little bit deeper. If you don't get past your, if you don't pay in your twelve months, then what? So that's the first part.

• 19:08Jaspreet Singh?

  If you don't pay it off, now you get slapped with a very, very hefty, hefty fine, a very, very hefty fee. Where now you're paying a massive interest rate, essentially like a credit card. They're just acting like a credit card. It's the same concept where you get a little bit of a grace period. But the second aspect is, if you want to buy a laptop for a thousand dollars and you need a thousand dollars to buy it. Well, you got to have a thousand dollars. But if you don't have to pay for it now. Pay a hundred bucks a month, yeah. You still have the thousand dollars in your bank account, maybe nine hundred. And now what happens? I can go buy more stuff for a hundred bucks a month. And you keep buying more and more and more. So it allows people to spend even more to lock in all this stuff. So you have a whole bunch of stuff and now all your money is going out to pay for the stuff that you bought yesterday.

• 19:53Jaspreet Singh?

  A year ago now. A year ago. And then if you can't pay it off in time, because that's ultimately, you know, their goal. If you can't pay it off in time, now you get slapped with all that interest, all these fees, and now you're the one that's got to pay it off. So this is where you have to understand the spending aspect of how do you spend your money? Because again, these things are tools.

• 20:17Lewis Howes?

  I wonder how many people, you know, this is going into our previous interview. I wonder how many people

• 20:25Lewis Howes?

  signed up for more credit cards since 2020 and also signed up for more, bought more things with this buy now pay later. I wonder if there's data out there on this.

• 20:37Jaspreet Singh?

  I don't know.

• 20:38Lewis Howes?

  Which will give us a more indication, hey, 12 to 24 months from now, man, people need to either make double the money or they're going to be going into a lot more debt.

• 20:48Jaspreet Singh?

  So in terms of the number of credit cards, I don't have an answer off the top of my head. But what I do know is the amount of money spent on the credit cards. Because in 2020, when the pandemic hit, we saw the fastest pay down of credit card debt ever.

• 21:03Lewis Howes?

  Really?

• 21:04Jaspreet Singh?

  Which was great because now you're sitting at home, you have very little expenses. You don't got to pay a mortgage, mortgages and forbearance. A lot of people are not paying their rent. You don't got to pay student loans. You're not going out to eat.

• 21:14Lewis Howes?

  You're not going to drink.

• 21:15Jaspreet Singh?

  You're not going out, right? So you have very little expenses. And then many people are now getting unemployment checks, you're getting stimulus checks. You have more money coming in. And many people actually became wealthier because of this situation. So it's extra cash. Some people spent it. Some people invested it. Some people paid down their debt. And we saw the biggest credit card debt pay down in the history of time in 2020, which was.

• 21:36Lewis Howes?

  It's all from free money, though.

• 21:37Jaspreet Singh?

  Well, you know, at the end of the day, at least you're using it for the right purpose. So that was great.

• 21:41Lewis Howes?

  It's great.

• 21:42Jaspreet Singh?

  People paid down their debt. Well, then what happened towards the end of 2021 into 2022 was the economy opened back up. People started spending. You wanted to go out and, you know, this pent up demand, you want to start traveling, you want to eat out again, you want to have fun again. Fine, but then we were also hit with inflation. Everything is so expensive. Now you've been waiting to travel, you've been waiting to eat out, you've been waiting to do all this stuff. And it costs more. Expensive, so now what do you do? Well, I don't got any credit card debt, I go put it on my credit card. Man. And so, over the last number of months, we have seen the fastest growth of credit card debt in the history. Come on. Of time. And this is the situation where we paid it off, and now we're going right back into it.

• 22:25Jaspreet Singh?

  Maybe because you feel like, hey, I got room to spend. And second, because everything is so expensive, I can't afford groceries, I can't afford gas. And so it's this whole. It all goes back to point number one, mindset. The mindset, the education, it is so, so, so crucial. And this is where now, in this step, you can make that decision. First, you have to understand how to spend your money. And then you can understand now, what do you do with the rest? Do you want to pay down your mortgage? Right. Want to pay off, you know, something like that? Or do you want to invest your money? And this is really an individualized question. Because the simple math is, if your mortgage is costing you, say, five percent a year, and you can get an eight percent return on your investment, you can invest your money,

• 23:10Jaspreet Singh?

  get a better return, pay off your mortgage, and have some money in your pocket. It's a no-brainer. So if you can invest your money, get a better return, why would you not do that? Well, because investing comes with risk, versus paying off your mortgage does not. Because when you pay off your mortgage, you get a guaranteed five percent return on your money. Because now if you pay it off a year early, you get a guaranteed five percent return. Whereas when you invest your money, it comes with risk. Might go up, might go down. Might go up, might go down. And so now the question, again, is what type of life do you want to live? Do you want to say, you know what, I just don't want to have to worry about my mortgage payment? I just want to be financially free, never have to stress about money, and just be okay? Then pay down the mortgage.

• 23:53Jaspreet Singh?

  Because now, once you pay down the mortgage, your biggest expense is gone. You own your house free and clear, you still gotta pay your property taxes, but at least now the biggest expense is gone, and you're gonna breathe so much easier when you don't have a mortgage to pay. But if you say, you know what, I just breathe, I wanna live big. I wanna have the nice stuff. I wanna have the big things. I wanna be flashy. Nothing wrong with that. Like you, I wanna have it all. Okay, that's fine. Then you don't wanna be trying to get a five percent return. You wanna invest this money in the markets. You wanna invest it in your business. You wanna invest this in your education. You wanna invest this in yourself because now you can get a much better return. Is it riskier? Absolutely. But your mindset is somewhere else, right? You wanna get a different type of return. And this is why you're investing into the things that can give you a better return.

• 24:38Jaspreet Singh?

  Because that's what you want. Right. But you just have to understand that it comes with risk. And if you're not comfortable with that, then do the first. So this is where you just have to understand you and understand what type of life you wanna live. But the key here is you don't wanna put yourself back into the situation that got you here in the first place. Where if you have the credit card debt, you gotta know how to spend your money that we don't end up there again. One of the simplest things to do is now to understand the difference between being able to buy something and being able to afford something. And one of the things that I like to say is just follow my rule of five. If you can't buy five of them, you can't afford one of them. The houses are expensive, though. Well, houses are an exception. It's different. So we're talking about more our liabilities. You wanna buy a Gucci belt. You wanna buy a two hundred dollar Gucci belt. Fine. Can't buy five, don't buy one. Can't buy five, don't buy one.

• 25:23Jaspreet Singh?

  Gotcha. The house is different. House is different. A house is an exception. No one's gonna be able to buy five in a house. A house is the one exception here where, you know, when it comes to your liabilities, that's the only liability that would say it's okay to finance. Uh, because everything else, you know, your Gucci belts, your clothes, your vacations, you should not be financing that because it's not putting any money in your pocket. And that's a clear liability. You don't wanna be financing that stuff. Right, right, right. So that's where now you wanna understand how to spend your money and then where to put your money to work. Interest-free living. Yes. And then this brings me now to the next part, which is what I call multiplier income. Where, you know, going back to the wealth formula, where's income minus expenses equal your investments plus your savings.

• 26:06Jaspreet Singh?

  We talked about how to save your money. We talked about how to invest your money. We talked about how to manage your expenses. But now let's talk about the income. Because if now you understand how to live below your means, you understand how to put your money to work. If you wanna put fuel on the fire, you just gotta earn more money. Now, if you earn a hundred thousand dollars, you earn a million dollars, you earn whatever, you earn more money. Now you know how to put this money through your system, through your funnel, whether seventy-five, fifteen, ten, or whatever else. You know how to take this extra money, but it's work that way you have more money to invest, more money to save, more money to live your life. But the key is you don't wanna one hundred percent increase your lifestyle to match your income.

• 26:47Jaspreet Singh?

  You wanna increase your income with your investments.

• 26:52Lewis Howes?

  And keep expenses the same.

• 26:53Jaspreet Singh?

  Keep it ideally. Now you can, you know, marginally increase your expenses, but the key is you wanna be increasing your income and your investments way more.

• 27:00Lewis Howes?

  Yes.

• 27:01Jaspreet Singh?

  So the question is, how do you do that? Well, this is where, again, understand you. If you are an employee, you don't want to start a business, you don't want to start a side hustle. Fine, nothing wrong with that. There's nothing wrong with being an employee, just have to understand you. But that means now, how can you earn more money? If you like your job, look for ways to get a raise, to get a promotion. See how you can get a bonus. Just be open with your boss. Say, hey, look, I want to be able to contribute more. I wanna earn more money. What can I do? Most people are gonna be very open and honest, say, hey, I would like you to tack on this, this, and this, do this, and then we will help raise your salary.

• 27:37Lewis Howes?

  Yeah.

• 27:38Jaspreet Singh?

  Maybe if you don't like your job, you go and get a certificate, you go and do something else. You need to figure out now how you can earn your, increase your income, maybe get a second job.

• 27:44Lewis Howes?

  What value can you bring to the business to bring in more money for the business? Or save more time, or create some system.

• 27:51Jaspreet Singh?

  Exactly.

• 27:52Lewis Howes?

  So that the business can say, okay, cool, let's give you more opportunities for growth.

• 27:56Jaspreet Singh?

  Exactly. I mean, if you can bring in an extra ten thousand dollars a year to the business of profit. They're not gonna have a problem paying you five thousand dollars, or whatever it might be, right? And this is where you just wanna be open, because every business is different. Maybe you take on a second job. And, you know, it's just figuring out how can you earn more money there. Now, if you say, well, I wanna do something outside of my job, fine. Well, the first thing you could do is start a side hustle. So much more accessible now than ever before. I mean, you can go on to the internet, become a virtual assistant. You can become a copywriter, you can become a designer, you can become a video editor. I have paid, so Upwork, they're not paying me. Upwork is a platform that I use to hire freelancers. And I did a video on this, so I looked this up.

• 28:38Jaspreet Singh?

  In the last two years or three years, I have spent more than a quarter million dollars on Upwork alone.

• 28:44Lewis Howes?

  Wow, on different individuals.

• 28:45Jaspreet Singh?

  Different individuals, just hiring people in different areas who don't work for me, they work on their own schedule. Because now this freelancing business has grown so much. And so there's a lot of opportunity there where now you can, if you can present a service, you can make money doing that.

• 29:00Lewis Howes?

  Yeah, they might be working an extra five, 10, 20 hours a week on the side, or they might just be full-time freelancers.

• 29:07Jaspreet Singh?

  Yeah, and you get to set your hours for the most part. You can really do something that you like, that you enjoy, that you're good at. So there's a lot of opportunity there where now you can be a freelancer or start your own side also if you have an idea. You want to, one of my buddies, his mom is really good at making cakes. And she started this, what is it called? Carrot cake business. And making a good, I don't know how much, maybe I think it's like 700 or a thousand dollars a month. Selling carrot cakes from Instagram. He markets on Instagram, people say, hey, can you make me a cake? His mom makes the cake and he delivers it.

• 29:40Lewis Howes?

  Sure, sure.

• 29:41Jaspreet Singh?

  What, I mean, it's just the number of opportunities now, of course, as an attorney, I should say there are liabilities to selling food. Get insurance and all that, but this is where, there are so many opportunities, right? Just being a hustler, just getting yourself out there, figuring it out. And there's an unlimited amount of possibilities and opportunities out there. Now, if you want to take it one step further, you could try to build your own business. Your side hustle can turn into your own business. If you have a business idea, invest in it. First, invest in your mind, invest in your education, and then try to do it. You want to invest as little money as possible until you start generating revenue. Like, again, mindset versus toolset, we assume that we need all these tools to start doing it. But the reality is the first thing you need is your mind. Because there's a lot of alternatives on how you can do it.

• 30:26Jaspreet Singh?

  Like when I started, I started a sock company a number of years ago when I was trying to figure things out. And it was a water-resistant sock.

• 30:33Lewis Howes?

  Yeah, yeah.

• 30:34Jaspreet Singh?

  And the interesting thing was I knew nothing about socks. How do you manufacture socks? How do you make them waterproof? And so I was working with textile engineers, I was working with manufacturing companies, I was working with a lot of different people. I didn't have a lot of money. And they wanted, and now we're talking about a real product. So I learned to talk and essentially.

• 30:56Jaspreet Singh?

  I did not, I think my total cost to build my first round of stocks was thirty five hundred dollars. It's not a lot of money, but relative to what if you want to manufacture products and create a product to go through the prototype after prototype to prototype. Right. It costs typically a hundred thousand dollars plus. I did it for under four grand because I was able to talk to them. I used to talk about the potential and I worked with them to build out these special deals where, hey, work with me here and you know. Do more business in the future, yeah. Exactly. And we were able to get it going. So it's the ability to hustle, be willing to find a way. And that's that mindset that sometimes too much money can be a disease.

• 31:37Jaspreet Singh?

  Especially if you want to be a side hustler or a business because now you just have to spend the money. And I've been a victim of that too. I, I'll just give examples, like the Minority Mindset Blog. I didn't know how to build a blog and my time was so eaten up with things like market briefs, talking about building this tax business, although that's much newer. Uh, but building my companies, building my YouTube channel, doing all these other things, investing in real estate that I didn't really care about building a blog. Like I cared about it, but I didn't have the brain capacity and the time to sit here and come up with a strategy to do it. So I outsourced it. I hired some of literally the top blog managers in the world and they charged me a lot of money, like as in

• 32:22Jaspreet Singh?

  six figures plus. Right. A hundred thousand dollars plus to manage the blog and they promised all this stuff. I was like, fine, do it. So a hundred thousand dollars for the blog manager, at least another hundred thousand dollars on blog content over the course of twelve months. And guess what? No results. Zero. Nothing. The worst. What did I do? Too much money problem. I just, I said, I don't got the time, just gonna throw money at it. Hopefully that will fix the problem because if you can get the top blog manager, you can hire people to write. It's easy, right? Well, after those twelve months, the contract was over. Fired them and this is where I was like, all right, you know what? Let me figure this out because I do want to build a blog and so we built a brand new strategy.

• 33:03Jaspreet Singh?

  It costs us a fraction, like a teeny tiny fraction of what we were paying before.

• 33:08Lewis Howes?

  Get what bigger results.

• 33:09Jaspreet Singh?

  Our blog is growing, we're generating revenue now. I mean, it's it's a complete turnaround. But it's that mindset versus toolset.

• 33:16Lewis Howes?

  Yes.

• 33:16Jaspreet Singh?

  And these are real stories, real things that I have gone through. So you need to know now, how do you multiply your income and understand that you don't need thousands of dollars? My first business I started with nothing, essentially, when I started my bed planning company. I started Minority Mindset with under a few hundred dollars.

• 33:35Lewis Howes?

  Yeah.

• 33:35Jaspreet Singh?

  And I was making videos off my cellphone.

• 33:37Lewis Howes?

  You just need some hustle, some creativity, some actions, some consistency, some relationships, some communication and just making stuff happen.

• 33:44Jaspreet Singh?

  The hustle, man. And that's why I always say, keep hustling at the end of my videos because the hustle mentality is so crucial and you can't teach that, you can't read that in books. You have to actually live it.

• 33:56Lewis Howes?

  Yes.

• 33:57Jaspreet Singh?

  And so this is where now, if you want to really do that, you have to understand the hustle mentality. And this brings me now to the be great aspect, the last part now.

• 34:06Lewis Howes?

  I like it. You're speaking my language.

• 34:08Jaspreet Singh?

  Exactly, right? Exactly, greatness. So you've built the base. You're putting some money to work, you're leading your money, you are either paying off your home or you're understanding how to use your extra cash the right way. You're increasing your income, that way you can build your wealth even faster. Now it's all about being great and there's two aspects to this. The first aspect that I want to talk about is protecting yourself because the reality is when people realize that you have money, they're going to try to take their hand, put it in your pocket and keep some for themselves.

• 34:36Lewis Howes?

  You know, to pause on you there, I remember hearing Oprah talk about this one time. Years ago, I heard her on some podcast or somewhere, she said something like, as she started to rise to fame with her talk show and started to make a lot more money. What do you think happened? Everyone's reaching out with a handout, right? Oh, you've got money now, can you help me with a thousand dollars here? Can you help me with this? Well, you've made the money, can you help me?

• 35:00Jaspreet Singh?

  Yeah.

• 35:01Lewis Howes?

  She said, I'm paraphrasing this, but after like, I don't know, a decade of this or something, it just felt like everyone was using her.

• 35:08Jaspreet Singh?

  Yeah.

• 35:09Lewis Howes?

  As opposed to just being in a relationship with her and having an actual friendship or relationship.

• 35:16Lewis Howes?

  And she said that she decided after a period of time, she was tired of just giving, giving, giving, giving to people who had a handout. And so she said, I'm gonna do a big dinner. And I'm gonna invite everyone, friends, family, everyone, you know, third cousins, you know, twice removed, everyone who's been asked for a handout, I'm gonna invite them all. And she said, it's like, she, she gave out, she had this massive dinner for everyone, like all, everything you could eat. And she started giving out envelopes and gifts and cars and cash and just like, she gave out gifts based on what she wanted to give to each person.

• 35:54Jaspreet Singh?

  Yeah.

• 35:54Lewis Howes?

  Everyone got something. And she said, she gave a speech at the end and said, this is all I'm gonna give you. Don't ask for anything else after this. And she said, still, people were complaining, oh, you gave this person 10 grand, I only got 5,000. It's like, you gotta learn to protect yourself.

• 36:12Jaspreet Singh?

  Yeah.

• 36:12Lewis Howes?

  Mentally, psychologically, financially, because you could just be giving and giving and giving, it can never end.

• 36:18Jaspreet Singh?

  Right.

• 36:18Lewis Howes?

  Right?

• 36:19Jaspreet Singh?

  A hundred percent. And.

• 36:21Lewis Howes?

  So how do you do this?

• 36:22Jaspreet Singh?

  That's, that's a huge relationship aspect. I'm gonna take it one step a little bit deeper on the legal side.

• 36:27Lewis Howes?

  Ah.

• 36:27Jaspreet Singh?

  Because you're, you're absolutely right. You know, I struggle with that relationship side as well, because.

• 36:34Lewis Howes?

  I'm not saying don't be generous.

• 36:35Jaspreet Singh?

  Yeah.

• 36:35Lewis Howes?

  But also, it's like, when you feel like you're being taken advantage of, then it becomes challenging.

• 36:40Jaspreet Singh?

  So my family's from a state in India called Punjab. And what happens, a lot of people is you come here to America or to, you know, somewhere like Canada. My family came to America. And your family's in India. And they think, oh, my God, you're wealthy in America, so you're working your butt off here while sending money back to India. So, you know, my parents did this, my dad did this a lot where, especially when we were young, he wasn't making a lot of money. But he was always sending money back to siblings or people just to help take care of them, because that's our culture, to help take care of people. And it becomes difficult, because, you know, it's that, for, at least for me, the cultural aspect of giving, which I like. Taking care of family, but then also not making them reliant on you because now once you start giving, then they say, well.

• 37:24Lewis Howes?

  I don't need to step up, yeah.

• 37:26Jaspreet Singh?

  And so it's a very tough balance and I don't have a good answer for you here because, you know, I do like taking care of people. I like helping people, especially, you know, within my family. I, you know, I want to make sure I can take care of everyone. That's why I work hard because I want to make sure that I can give you. And so when I, because I, I have given money to people around me, my family and my friends. The way that I look at it is I don't want that money back. I know when I give you money, I'm never gonna ask her back and I don't want it back. If you give it back to me, maybe I'll take it, but I'm never gonna ask her back and I will give based off of what I can. But I know that's money in my mind, I'm never getting back and I have to be okay with that for myself. And if I'm okay with that, that's fine. And I think that's one of those things

• 38:08Jaspreet Singh?

  where I don't, because I don't want to mess up the relationship, right? With my family, that's more important to me. And so, look, if I'm okay giving you a thousand dollars, here's a thousand, never talk to me about it again.

• 38:19Lewis Howes?

  Right.

• 38:20Jaspreet Singh?

  And really that's it. And if I see you blow that money in dumb ways, guess what? When you ask me for another grand, you're not getting it.

• 38:25Lewis Howes?

  Yeah.

• 38:25Jaspreet Singh?

  You know, it's as simple as that. I'm gonna forget about it. I don't like arguing over money. I think that's very dirty and evil. So, you know, I am generous in that sense, but you know, I'm also very straightforward where if I feel like, hey, I'm not gonna give it to you, I'm not gonna do it.

• 38:37Lewis Howes?

  Yeah.

• 38:38Jaspreet Singh?

  But I also don't say you can ask her back.

• 38:40Lewis Howes?

  But you're talking about protecting yourself legally.

• 38:42Jaspreet Singh?

  Legally, which means now having the right advisors, accountants and insurers to protect you. And so when you start earning money, people are gonna try to reach into your pockets and get it also legally. I had a tenant in one of my properties, Sumer Real Estate Company, because they said that the bathtub got too slippery when the water was on.

• 39:06Lewis Howes?

  Geez.

• 39:07Jaspreet Singh?

  And because it was so slippery when the water was on, it caused them to slip and fall, which then.

• 39:12Lewis Howes?

  It's a bathtub.

• 39:13Jaspreet Singh?

  It's a bathtub with water and because of that, they wanted damages for injuries.

• 39:18Lewis Howes?

  But you just have to defend yourself, even if it's not.

• 39:21Jaspreet Singh?

  Your problem. And so this is where how do you protect yourself? So I had a couple of things. One, I had an LLC. Second, I had. Renters insurance or yeah. And third, I had a property manager company, property management company. And so I'll go through the different layers. You can see all the different levels of insurance and how they worked. Because now the first thing that happens is my property management company documented everything. Because prior to them slipping, they made a complaint that there was about a quarter inch by quarter inch chip in the bathtub. And they said, oh, there's a little paint chip. We want to get this fixed. So my contractor goes out there. He says, okay, yeah, we can fix this. And my contractor said, you know, the tenants here are kind of old. Let's install them a handicap pole just to be nice. We weren't required to do this. We were fully licensed by the city, but my contractor offered to do this. So now they go back to do the work.

• 40:06Jaspreet Singh?

  The tenants say, we don't want you to do it. We're tired. He goes back to do it again. They said, we don't want you to do it. The tenant slipped and fell at a barbecue. They go back, he said, no, he's still injured from the barbecue. So we have notes of all this. Sure. And then they go and say that they slipped and fell in the bathtub. We have records of all this where they said they slipped and fell at a barbecue. And now they're saying they slipped and fell at a bathtub. Why are they doing that? Well, maybe they can try to get some money out of the quote unquote rich landlord. I was a very young kid at this time. I was still in college. Trying to dig into those pockets, thinking that, oh, if he's a real estate investor, he must have a lot of money. And so they use one of those free attorneys to go after my insurance. So now I have insurance.

• 40:51Jaspreet Singh?

  So now my insurance company gives me an attorney to protect me through this process. And the judge laughed at the case, even the attorney laughed at the case. He was like, look, man, this is just, they're just trying to grab money. There's nothing here. It's a frivolous lawsuit, so we just have to do it. And the insurance company wants to settle because it's cheaper to settle than to pay three hundred and fifty to four hundred dollars an hour to the attorney to fight it and actually win the case. And so that's where the insurance came in and protected me. They fought me for me and defended me and then paid out the settlement. Now, if it had escalated further, that's where the LLC protects me, which is where you want to have a good attorney there to recommend what's best for you.

• 41:31Jaspreet Singh?

  Because that LLC then kind of creates a shield where you can only take what the LLC owns and you can't go after my personal assets. So if the LLC only owns that property. You can't go after anything that I own because the LLC is what owns the real estate. So you want to make sure you protect yourself there.

• 41:52Lewis Howes?

  Right.

• 41:53Jaspreet Singh?

  So this is where having those right shields to protect you are so important because especially in America, we are the most litigious country in the world. And you want to make sure you protect yourself against that.

• 42:03Lewis Howes?

  Right.

• 42:03Jaspreet Singh?

  And there's a funny saying in real estate that if you haven't been sued as a real estate investor, you haven't been in business long enough.

• 42:10Lewis Howes?

  Wow.

• 42:10Jaspreet Singh?

  So it's just one of those things where you want to protect yourself.

• 42:13Lewis Howes?

  I think people also got also understand this is a full contact sport. You know, learning how to follow these six steps that you've laid out, which I think are great. But learning how to be, you know, an investor, it doesn't come easy for everyone right away. You're going to make some mistakes. There's going to be some challenges to face. And the longer you're in it, you just have to deal with stuff that's not fun, right? This is something you're going to deal with. There's probably months of a back and forth thing. And there's some stress, there's some worry, there's conversation, it's time, it's energy with insurance, with lawyers, just to deal with something that even isn't your fault.

• 42:55Jaspreet Singh?

  Hundred percent. And you know, this is just one of the realities of being an investor and entrepreneur, where you know, understanding the aspects and there are going to be some things that are not fun. Like I talked about in our previous podcast, the tax issue.

• 43:07Lewis Howes?

  I know.

• 43:08Jaspreet Singh?

  It was a where my accountant calls me up saying that, hey, just believe this is nine in the morning. You owe a hundred thousand dollars by the end of the day.

• 43:17Lewis Howes?

  Sucks.

• 43:17Jaspreet Singh?

  Send it into the IRS.

• 43:18Lewis Howes?

  That sucks.

• 43:18Jaspreet Singh?

  And now I have to go figure out how to do this, send it in. And then he tells me that I also have to pay a penalty on this because he did something wrong. So it's one of those things that's not fun. It's a problem. But then as entrepreneurs, how do you find the opportunity? Well, first I fired the accountant. I go on the hunt for a new accountant, a new tax advisor. I start working with this new tax advisor and I see the difference between a bad accountant and a good accountant. I started learning, wow, you're telling me that every month we can meet and you can advise me on what I can do with my money? That way I can legally limit my tax liability and you're going to do all this work in advance? And I don't have to worry about this ever? I love that. Now with my entrepreneurial brain, I'm like, let's start working together because there's so many small businesses that need this.

• 44:02Lewis Howes?

  Yeah.

• 44:02Jaspreet Singh?

  It is a real problem. Because there's a lot of bad accountants out there and we need more good accountants. We need more good tax advisors who's gonna help people, especially in this new age where we have more IRS agents joining the workforce. We have a lot of things changing. We're probably gonna see a change in tax laws. So you wanna make sure that you're taking care of yourself. So this is one of the things that I'm working on with him is to fix that. We don't have a website or anything. So if you wanna learn more, shoot me a DM on Instagram at Minority Mindset or email me at team at the minority mindset.com. But this is just one of those things where you wanna make sure you have the right resources there to first be great to protect yourself for your family. And I'm gonna take the one step further because as an attorney,

• 44:43Jaspreet Singh?

  you also wanna make sure you have the right estate planning in place because this is one of those things that is really not fun, but so crucial. If you build any sort of wealth, you want to tell the world and When I die, where does it go? Where's it gonna go? Because if you don't, your family's gonna fight over it. Oh, man. And it's not fun because no one wants to think about what happens after I die. But it is so, so, so important because when you die, you don't want your family fighting at your funeral. And so create a will, create a trust, have an estate planning attorney that can help guide you there. Because you never wanna have to worry about that. And the second aspect of being great is being great for the world.

• 45:25Jaspreet Singh?

  Where the more you have, the more you can do. You can give back, you know. You can do more things, whether it's your money, whether it's your time, whether it's your education. Because when you can light a candle, well, you can light one candle, but that one candle can also light a million other candles. And this is where now, as you're on this journey to build wealth, you have lit your own candle. Now you can help light someone else. You can help give someone a helping hand, whether you help someone financially, whether you help them with your time, whether you help them through your expertise because now you've learned the process. Because information is meant to be shared. I talk about this stuff on YouTube, not because I wanted to get rich, but because I was so frustrated by the system, right? I never knew that I could even make money on YouTube.

• 46:08Jaspreet Singh?

  I started making videos without even turning advertisements on. I didn't know that you could do that until someone showed me, hey, you can make money from these videos. And so it's the whole idea of Helping to spread because in like we've talked about in this video, this this podcast.

• 46:27Jaspreet Singh?

  There's so much misinformation out there. There's so much lack of information out there. And financially, like if you don't understand money, if you don't have money, it can ruin so many other aspects of your life because if you don't have money, you're stressing about money. Now you can't take your spouse on the vacation that they want. You can't pay for your kids' education. You can't fund your retirement. You can't buy the gift that you want. You can't do anything and now you're stressing. It makes your mental health worse. It could put you into depression. It can make you start eating bad. It can make your physical health worse. It can make you feel so unfulfilled. It can make you feel so spiritually beat. So this is where understanding, hey, more money isn't going to fix every aspect of your life.

• 47:11Jaspreet Singh?

  But if you don't have money, it could impact every aspect of your life. And this is that financial education now where, okay, I'm trying to learn this. Help spread the message. And again, through your money, through your time, through your education. There are so many ways that you can do this because the more you have, the more you can do. And now you've built this wealth and this is where now you want to be great for the world, not just for yourself.

• 47:32Lewis Howes?

  Yeah, man. If you guys want more of this information, check out Minority Mindset YouTube, theminoritymindset.com, Market Briefs as well, which is your newsletter, which is teaching more of this financial education, which I think a lot of people should be subscribing to. And if you guys want more from myself and Jaspreet, then make sure to leave a yes below on this video. Subscribe. Subscribe to both channels and let us know what you want to hear more on. We've done some incredible interviews so far, some incredible content. I want to keep doing more with you, so.

• 48:04Jaspreet Singh?

  Let's do it, man.

• 48:05Lewis Howes?

  Jaspreet, this is inspiring, teaching people how to, the wealth formula, I love, teaching people how to get into the mindset of being able to retire at some point in their life if they want to. You mentioned, what is it, the FIRE concept for a minute? But if you guys want more, subscribe to both the channels, check it out.

• 48:23Jaspreet Singh?

  Lewis, thank you for helping spread the word, man.

• 48:25Lewis Howes?

  I hope you enjoyed today's episode and it inspired you on your journey towards greatness. Make sure to check out the show notes in the description for a full rundown of today's episode with all the important links. And if you want weekly exclusive bonus episodes with me personally, as well as ad-free listening, then make sure to subscribe to our Greatness Plus channel exclusively on Apple Podcasts. Share this with a friend on social media and leave us a review on Apple Podcasts as well. Let me know what you enjoyed about this episode in that review. I really love hearing feedback from you and it helps us figure out how we can support and serve you moving forward. And I want to remind you, if no one has told you lately, that you are loved, you are worthy, and you matter.

• 49:09Lewis Howes?

  And now it's time to go out there and do something great.