But the question that I have is who's going to make the best use of your money? Since writing the original Naked Brands post, Ive applied the concept to finance,fashion,music, and basketball. Just that idea resonates with so many people. That's why you will continue to see more inflation. Why did we do certain things? And I thought, OK, this is cool. And now you're just traveling east. Dr. Jim Dahle: Because again, I didn't have any formal business experience. Inflation is a hidden tax. Its like, how did this happen? Dr. Jim Dahle: Everybody has their own unique style. You are a first-generation American. But the reality is people are driven by emotions. They were like, oh, dont worry, well give you a 100 percent money back guarantee. And this is Peter Kim. I ran an event planning business and I was making money and I started reading money books. Jaspreet Singh: Look, if you love being a doctor, then be a doctor, but you have to understand how to use your money the right way that you don't get screwed over by the system. I grabbed my backpack. I told my dad that I want to invest in real estate. People encouraged me to start a social media page. And that's when I really started to think differently. And I was introduced to him recently at a conference called Fin Con. So don't do that. This is where my passion was. I started out there and that kind of developed the whole majority mindset versus minority mindset thinking with a majority people like going to parties. And then one day I was late to class. What started as a YouTube Channel dedicated to simplifying financial health and educational content has turned into a movement. But anyway, welcome to the podcast. And yet I'm sitting here hosting these club parties. And now we've grown it to something a whole lot bigger. As more and more money is printed by the Federal Reserve bank and the government, more dollars enter our economic circulation. So I came to college and everybody was partying and I was like, well I need something to do outside Friday night. Jaspreet Singh: Some of them will go nowhere, but most of them will fail. Because inflation again is when the value of a dollar goes down. And eventually if you keep doing it, that audience will gravitate towards you and theyll want to watch your type of content when it comes. Jaspreet Singh: We went to an underserved school here in Detroit. I never thought of breathing like that. I pitched that off the top of my head and when I sat down and I was like, Wait, that's kind of a cool idea.' Jaspreet Singh: I never once learned to think about investing. Now one of those businesses involved an invention. Read millions of eBooks and audiobooks on the web, iPad, iPhone and Android. But I started to ask myself about my purpose and my passion. You probably got hundreds of thousands of dollars worth of student loans. Your most popular video with almost 3 million views is called Five money habits that keep you poor. Jaspreet Singh: And I knew I liked real estate and I also knew that I didn't like the event planning business because I don't drink. I think you will find his story about giving up his family's dream of him becoming a doctor to follow his passions as fascinating and educational as I do. The interest rates on your bank account are paying you 0.01% a year, which means if you have $100,000 in your bank account today, in three years your bank account is going to be $100,000 and a few pennies. Like for example, I feel like a shopify, they have a very cool tool, but they also have a very popular blog on ecommerce, how to sell products. David: You said that theres an audience for everybody, but theres also an element of always improving, right? Jaspreet Singh: Explore the world of Jaguar cars and learn more about models They say, Oh, that's not fair. And so, thats really what it is. Neither of which are my strengths. Programmation et technologies internet; Rseaux informatiques et scurit; Gestion de projets informatiques T.I. And then when you talk about whether it's welfare or teacher's paychecks or whatever it is, a teeny tiny, little fraction of your dollar will ever make it there, if that. $35 per post at $7/CPM. The first one on it was Don't put your paycheck on social media. And I'm not sure I've seen a lot of doctors doing that, but is that a common trend out there on social media where people are flashing the dollars after they get paid? It is their number one asset. I believe that we are the strongest economy in the world and investing in the stock market gives me exposure to that. Jaspreet Singh: I plan to conduct many interviews with writers, influencers, and entrepreneurs. I know I want to be an entrepreneur. Tell me about that. But now I'm leaving college and it's like, This is not what I want to do. And they didn't understand what I was doing, my parents and all of their friends didn't understand what I was doing. You want to sit there and have fun and relate to the person. I invest my money in five places. So then I started doing something different. I was studying for the MCAT and I was running a business at the time in college. They can dilute the value of our dollars with the click of a button. My uncle is telling me, Jaspreet, have you lost your mind? Jaspreet Singh: Were hosting concerts and shows and we were doing a lot of different things and my parents, they wanted me to be a doctor, so after my second year in college I was studying for the MK, which is the medical college admission test to get you into medical school. Jaspreet Singh: Your email address will not be published. Jaspreet Singh was grew up in India and Kashmir. Jaspreet Singh , Founder, Minority Mindset & CEO, Market Briefs Headshot of Jaspreet Singh Jaspreet Singh The Minority Mindset & CEO, Market Br. It was an MCAT tutor to get me ready to go to medical school. I love giving back. I'd never had anybody supporting me. And am I doing it for the right reasons? And I realized I wasn't. And that's when I started to really ask myself, Is this the right thing for me? So how about instead of going to the parties, start hosting them. It's just something that I own, like money. Then I have an active strategy in the stock market where I look for undervalued companies. The price of everything is going to keep going up. Sometimes you have to cut the noise, put your head down, and remember that you're making progress at your own pace. I'd be happy. I decided to go with it. And every single money book that I read said that wealthy people invest in real estate. I never thought about screaming or just whatever they did, youre just kind of see different peoples flavors in different situations of the same thing. So, I started this YouTube channel as a hobby, just to again, talk about the things that I wished that I had learned when I was younger. You can say, what do you think about this? But you've said, if you can't buy five, you can't buy one. That way you can make smarter decisions. Aug 2008 - Present14 years 9 months. How Jaspreet Singh Grew to become The Minority Mindset Plan 1: Develop into A Physician. You're already working six months out of the year, January through June, just to pay your tax bill. Dr. Jim Dahle: I didn't have any entrepreneurial friends that had made it that could say, Hey, Jaspreet, its going to be OK,' because I didn't know anybody who did that. My parents started calling their friends. It's a common thing where when people make their first thousand dollars, they want to show it off. Another member of the White Coat Investor network is Passive Income MD at passiveincomemd.com. I didn't know what that meant. Dr. Jim Dahle: This was a great time. I wish I would have done something 10 years ago. You can check us out on social media as Minority Mindset. It makes the majority of people who do not understand it poorer, and makes the financially educated richer. Jaspreet Singh: Jaspreet Singh: And what's interesting is the single type of income, which has the least tax loopholes, which has the highest tax rates are earned income. Jaspreet Singh: Dont get caught in the same scams and traps that I did because growing up I was never taught anything about entrepreneurship, business money, anything like that. Jaspreet Singh: Then a portion of your paycheck goes to the government. I never once learned how I could use my money in a way to give me financial freedom. He was one of the keynote speakers at the event and has put together some awesome resources. How do you think the government works? The government wants to see more inflation. Jaspreet Singh: Getting out of your comfort zone to do something that youve never done before, thats the only way youre gonna be able to grow and get to somewhere where you want to be. That video you put together includes some tips for people that I hadn't even thought about. Jaspreet Singh: Money isn't everything. I have no problem if you want to spend $100,000 on an engagement ring, it doesn't bother me. But what you can do is get financially educated and do something with your money. That's if all of a sudden, the people who are sitting on cash, and a lot of people in India were holding a lot of cash because it's more of a cash based society than it is here in the states. And fortunately for me, this was at the bottom of the 2008 real estate crash. And it's obviously a bit of a play on words with multiple meanings. I had calls coming in from my uncle. The importance of your Mindset. You have to understand that you can protect your money.. And everybody was like, Hey, you should start a social media page. I saw the meaning of really saving, saving, saving. The goal of the channel is to "revolutionize the way people think about money and to make financial education fun" and they often discuss passive income. Required fields are marked *. Jaspreet Singh: My dad came to America with less than a hundred dollars. You have so many layers of bureaucracy, which makes the company fat, because now it makes a dollar, but then it just spends a whole bunch of money on a lot of useless things. It seeped through my shoe. He has hit a couple of milestonesback to broke and a six-figure net worth. As more dollars enter our economic circulation, the value of each individual dollar goes down. Look, if you love being a doctor, then be a doctor, but you have to understand how to use your money the right way that we don't get screwed over by the system. Jaspreet pursued a Bachelor of Technology in Computer Science (2007-2011) at Guru Nanak Dev University, Amritsar. Goodness knows it's tough to build equity in this economy. As more dollars enter our economic circulation, the value of each individual dollar goes down. And now I create consistent predictable cash flow and it comes with legal tax breaks. I dont drink. And this is where a lot of people get angry. And in most Indian households, the way that you become successful is by studying hard and by becoming a doctor. I was just the worst. I had taken all the pre-med classes. Dr. Jim Dahle: Thank you to those who are leaving us a five-star review and telling their friends about the podcast. If you're willing to do it and send us a picture, we're going to send you a t-shirt and a WCI tumbler. The whole idea being you had to think differently than the majority of people. No one in my family was an entrepreneur like that. I advise. When I was going to school and I went through a lot of schooling, I never once learned to think about investing. But that was all a lie. It creates a whole new dimension that, like you were saying, that kind of the fourth dimension, because were breaking that wall between the screen and the viewer. And that's when I found out they were a scam. We kind of hit on this, but you need to understand how to protect your money and build your wealth as a doctor. Well, if your pay doesn't matter, then tell your boss not to pay you. I can fix up a property. Jaspreet Singh: And in order to now balance this national debt crisis, one of the things that they're doing is they're creating more inflation to pay back this money with cheaper dollars. 1,495 Followers, 2,496 Following, 136 Posts - See Instagram photos and videos from Jaspreet Singh (@minoitymindset) His family moved from India when he was young. Dr. Jim Dahle: I have a passive strategy where every week I have money going into ETFs that give me exposure to the general stock market. Cryptocurrency is decentralizing money, and there's also a lot of technology behind it, which makes it very powerful because it's revolutionizing the way the internet works. Jaspreet Singh: This is a blog put together by a fellow by the name of Leif Dahleen. My God, its horrible. You can buy more things with your paycheck. That means you need to know how to spend your money. Because you can do what you love and you should do what you love, but it's a lot easier to do what you love when you are okay financially. You have the least tax breaks that you can get out of the tax code and you also have the highest tax rates. About. Jaspreet Singh: So, I started hosting teen parties when I was in high school, my junior and senior year. I was running these businesses in secret because if my parents found out they'd be very angry. I used to work at Indian weddings, playing a drum called the dhol. Jaspreet Singh: The hosting them started doing really well. I went on mission trips to help prepare myself, to get ready to go to medical school. I just had this kind of crazy dream that I want to do something different, but everyone was telling me that I was dumb, that I was crazy. We also have the Minority Mindset Spanish channel on YouTube. Humans are looking for this innate sense of acceptance and the feeling that I need to show that I'm successful to make up for my lack of financial success. Jaspreet Singh: It took my mom a year and a half to finally grasp that her son was not going to be a doctor. Jaspreet: Youtube and digital video is going to take over TV in because its so interactive. Every tax dollar they pay gets funneled through the politicians and the government. There's a clear philosophy running through all of those assets. Jaspreet: It has nothing to do with the way you look, your ethnicity, your skin color. Now it sucks for doctors. But that's how it started.'. The United States government is not a for-profit entity. Why am I going to go to your brands page? I took a speaking class and one of the projects was to pitch a product to the class as if the class was a group of venture capitalists. Here's your host, Dr. Jim Dahle. Our guest is a general dentist three years out of training. Jaspreet: It has nothing to do with the way you look, your ethnicity, your skin color. What should I do?. Buy assets, save, whatever you have to do. Singh worked hard to get where he is and endeavors to help people earn money, save money and make their money work for them. The Minority Mindset has nothing to do with the way you look, your ethnicity or your skin color. Go check out & read the full interview Jaspreet did with Policygenius Inc. Read the full . That's why you will continue to see more inflation. You've got the ear of 30,000-40,000 doctors and other high-income professionals. Financial Wellness and Burnout Prevention for Medical Professionals, Having an Entrepreneurial Mindset and Finding Your Passion, Don't Let Your Money Habits Keep You Poor, How to Reduce Your Investment Taxes - Podcast #237, What Are Meme Stocks and Why You Should Avoid Them, Finding Financial Role Models in the Black and Brown Communities, The Finances of Professional Cyclists - Podcast #244, Physician Entrepreneurism and Venture Capital with Dr. John Shufeldt, 2021 Financial Book Reviews - Podcast #238, An Interview with Coach Carson About Investing in Real Estate - Podcast #65, An Interview with Physician on Fire and Passive Income MD - Podcast #90, 10 Things That Rich Doctor Across the Hall Isn't Telling You, Using Social Media to Promote Financial Literacy, https://www.advisorperspectives.com/dshort/commentaries/2021/09/27/the-feds-financial-accounts-what-are-uncle-sams-largest-assets. Let me try that. This is something that I own. And now all of a sudden, this YouTube channel is turning into something real. Why are we doing the things that we do? You have to understand that you need to be able to take care of yourself financially, but in terms of finding your purpose, look in 10 years, if you don't do anything, you're going to be sitting right where you are right now. It costs 12 cents to print a hundred-dollar bill and the federal reserve bank can print these paper dollars on command. Why? Year: Net Worth: 2019: $4 Million : 2020: $4.5 Million: 2021: 5 Million: 2022: 5.5 Million: Family And Early Life In the United States, Minority Mindset Jaspreet Singh was born and raised. Dr. Jim Dahle: If you keep doing what everybody else does, youre gonna end up like the majority of people and so its the mindset of thinking different and breaking away from this traditional path and doing something and creating something of your own instead of just being a follower and kind of just a victim of the system because right now school and just the traditional system is not working for the majority of people and so its a mindset of breaking away and thinking different and kind of creating your own plan. And here I go to college and I see everybody partying, blowing money they don't have. He started the Minority Mindset YouTube Channel as a hobby to teach others how to not make the same mistakes he made. Dr. Jim Dahle: With this data, we predict the Jaspreet Singh YouTube channel generates $21.57 thousand in ad revenue a month and $323.58 thousand a year. I didn't even know that you could make money off of YouTube. And it's that question of Why? Why are we doing the things that we do? And that they're trying to manage inflation to control inflation. Humans are emotional beings, not rational ones. Gold, silver, cryptocurrency, real estate. Knowing how to work hard is extremely important, but you need to know how to amplify that by working smart and saving smartly. Jaspreet Singh: You have got a fantastic story. They say, Oh, that's not fair. Jaspreet Singh: You had all this interest in entrepreneurship. So, this podcast is for your entertainment and information only and should not be considered official personalized financial advice. Jaspreet Singh: I revitalize them. Then I went from business to business, to business, to business, trying just a whole bunch of things. Yeah, we'll get into that. Jaspreet Singh: His parents were not particularly well-off. So, it's a highly risky way to invest. You might be asking how you're supposed to go from $40,000 to $400,000, which is a great question! It seeped through my shoe. And now I create consistent predictable cash flow and it comes with legal tax breaks. That's my way of investing in startups. When I first made that video, I used to guest teach in schools, high schools. And then people would say, Oh my God, dude, I really like your content. Second, it's so hard because you keep getting screwed over because I didn't have any sort of guidance. Thank you, Jim, for all you do. I hope we always are worthy of that trust. You're not going to like my writing.' I would be rich. So, you need to plan for that, that way you can start investing in other assets that we have more than one stream of income that isn't just relying on you. Now, one of those businesses involved an invention of yours. Dr. Jim Dahle: I had done the volunteering. If youre willing to put in the work. It was supposed to be temporary, but the temporariness hasn't changed, that convertibility of the dollar to gold was severed. I have a lot of trust issues with the government and the Fed now. I never really had anyone kind of telling me whats right, whats wrong or given me some sort of teachings or anything. And you're probably going to see your tax bill go up. What do you invest in? Jaspreet Singh: I did internships. For business owners, knowing where to turn for a reliable source of information and business trends is important. Jaspreet Singh: You might be interacting with them as so many other ways that you wont with TV personalities. Instead, you're paying the highest tax rates and you also have the least deductions. And people really liked it. Let me know your thoughts in the comments and all of a sudden youre interacting with me as youre watching, like I might even go and respond to your comment. The United States tax law has legal tax loopholes, which give certain types of income tax breaks over other types of income. Some docs are overworked. I spent a while creating the technology. And to really understand how you can build wealth for yourself. Let's talk about some of the things you teach on your channel. He was raised with the expectation that he would become a doctor. Just that title people want to know what are the money habits that are keeping me poor. So, if we have more inflation, that means that the government can now pay back this $29 trillion worth of debt with cheaper dollars. Now it sucks for doctors. And slowly that started to grow. I'm an entrepreneur myself. Jaspreet Singh: I was an entrepreneur. I will try to find ways to interact with you to make you feel like youre a part of us because thats what really differentiates the Internet and kind of digital media in the sense of youtube and those type of things as opposed to tv because TV, you feel like youre so far away from this celebrity that youve never heard of. Our estimate may be low though. $25 per post at a $5/CPM. Food Blog Minority Mindset is an entrepreneur and personal finance influencer with an estimated net worth of $2 million. So, I went from just try and business to business because that's how I learned. And that's what the Minority Mindset is all about. David: The relationships that we have with brands have also changed the way that we consume their content on social media. Gold is a representation of value because it takes time, effort, and labor to mine gold. I could not do that with myself mentally. And the first thing that came to my mind were wet socks. Awesome. Jaspreet Singh: David: The internet has destroyed so many barriers and unlocked floodgates of opportunity. I was never into partying. I didn't like the industry. Stopped as pandemic tick-tocks, keep docs off clocks. You just got to do something that you love. Jaspreet Singh: You bust your butt through medical school, through residency, through fellowship. And this is what made me so angry. But something in the back of my mind told me that wasn't true. Jaspreet: One thing that was really interesting was the first day I went there, I had no idea what I was doing. Some of them will succeed. And like a lot of Indian immigrants, my parents actually wanted me to become successful. Now were at like 350,000 subscribers, tens of millions of views. This is not me. I'd find love. I learned how to live below my means because we were never poor, but we were always like penny pinchers in the sense that Why would we take two cars when we can stuff eight people into one five-seater car? Now that understanding that mentality of knowing how to live below your means is extremely important. I shadowed doctors. I was like, Oh, that's easy. Watch the full ep. For first year medical and dental students. Even though I had gone through so much schooling, even though I had spent so much money in college, nobody taught me this. Thank you so much for being on the White Coat Investor podcast. Jaspreet: I never planned on going on youtube or making videos or being a so called insolence or, or whatever. Naked Brands are a new kind of brand enabled by social media, powered by personality, and built for the digital age: Naked Brands are founded by social media influencers. When people look at Minority Mindset, I think the first thing that comes to mind is racial minorities. We grew from just holding parties to doing parties every week. It's very risky. How much car can you afford? But the cost of things are not going to stay the same in three years. Thats just like gambling. Like finance.yahoo.com. And I was like, None of you have any money. And you can give directly100% of the dollar you give rather than some smaller fraction. And every single money book that I read said that wealthy people invest in real estate. That's so true. You can check us out on YouTube, Minority Mindset. Jaspreet Singh: This is where my passion was. I'm investing in real estate. And then that's where everybody says, Oh, don't worry about the pay. We're on a journey where I never would have expected that because that wasn't what I tried to do. Be Different. Well, I knew I wanted to do it to make my parents happy. It's hard to focus on your own growth when you obsess over what other people are doing on IG. I renovate them. There were riots and looting that happened and they were attacked. And they were attacked on the way. animals scientists are trying to bring back megalodon. He was one of the keynote speakers at the event, gave a fantastic talk and has put together some awesome resources. But the question that I have is who's going to make the best use of your money? It is something you definitely want to get if you're going to come to the conference. I started to really think differently because I was always told that if I became a doctor, that everything would just work out. Housing prices are at rock bottom. My dad, your host, Dr. Dahle, is a practicing emergency physician, blogger, author, and podcaster. But I bet you learned some important financial lessons from parents that had that sort of a background. I got irritated because I didn't have any sort of entrepreneurship education and I've been scammed. They asked me if I had the monetization on. But then I also had this entrepreneurial mindset where I would now ask, If I want to become a doctor and I want to get the best financial return out of being a doctor, how do I do that? At first, I went out to Udemy and created a class on How to launch a business without getting screwed over? I charged $7 for it. I never said it was everything, but it plays a part in your life and you have to understand money. I worked with textile manufacturers, with manufacturers to create this water-resistant sock. And I sat down and I was like, Wait, that's kind of a cool idea. I invest in them. And again, financial education is so important. And then from there I just started doing it, just started talking and somehow people caught on and they loved it and we grew from there. I didn't like the industry. The federal reserve bank is going to keep printing money because that's what they do. I look forward to hearing from you. Jaspreet Singh: It started off really as a hobby and then it started to grow and I hit this kind of turning point where I got denied with a patent for my sock company. And I started to ask myself, Why? Because there are so many other layers of fat along the way. The company was registered on 2013-08-29 and it is approximately 9 years years old. Jaspreet Singh, otherwise known as the Minority Mindset, is a qualified attorney, . And he focuses a lot on boosting your income in ways that aren't going to the hospital and working. Jaspreet: Brands have to give back in the day if a brand a business or selling a product, their job was just to sell you a product, right? ', I stood there thinking, Jaspreet, think of something, think of something, think of something.' And his YouTube videos are fantastic. Why do you think that resonates? You got time and you need to understand it. If you're not aware, we have some network partners. When Im on Youtube I can actually interact with a person whos watching. I had calls coming in from my uncle. So I talked to my dad, Im thinking about investing in real estate because all these books are talking about it and the new says that real estate is really cheap and my dads like, no, you are not going to invest in real estate. He purchased a 2017 minivan with 20,000 miles and felt rich doing it! And that I lost my mind. I wanted to try. Tell us about what you invented. The government doesn't have that incentive of trying to become profitable because they're not a for-profit entity. And so theyre driving traffic in because of people who want to learn how to sell on the Internet at that right there, they have their backend product, which is, well, if you want us to do it, uses our platform. And then during my free time I was reading financial news. I shut it down because I did not see myself doing that long-term.
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