Do These 3 Things The Next Time You Get Paid (Thank Me Later) | Jaspreet Singh

"The third thing that you want to consider which is the least accessible but can give you the biggest write-offs and some of the most money back is creating your own income as well working to create your own side Hustle even if you have your own job it doesn't have to be a major side hustle just something that you want to work on on the side maybe it's a little hobby YouTube channel maybe it's a Blog that you want to build it's some sort of side business because the reason is now when you go out to create your own income you become a small business owner and when you're a small business owner you open up a whole new world of deductions."

"generally what you have seen in the past from the historical stock market returns is that the stock market and the real estate market generally grow by an average of seven to ten percent a year This is what we have seen over the last century"

"if you have any sort of high interest debt maybe you have credit card debt and if that credit card debt is costing you let's just say 18 a year well now let's think about this your credit card debt is costing you 18 a year when you go and invest your money you're trying to get a seven to ten percent a year which number is bigger... it makes more sense for you to take your investment money and work to pay down your high interest debt first because if you can stop paying a credit card debt one year early that is a guaranteed 18 return on your money"

"the reason why many people don't become wealthy isn't because they've picked the wrong stock or it's not because they picked the wrong mutual fund or it's not because they picked the fund with the wrong expense ratio it's because they never got started"

"even if you make the wrong investment is you are starting to learn losing is a part of the process... if you're really scared about losing money well then you're never going to get started and if you never get started you're never going to see the success"

"maybe you hate the stock market maybe you hate analyzing individual companies and you just want to throw your money into an S P 500 ETF meaning you just want to invest your money into a fund that's giving you exposure to the largest 500 companies in the stock market Now you don't have to worry about analyzing companies you don't have to worry about trying to time the markets you just put a little bit of money in every week and now you set it on autopilot and don't have to worry about it"

"maybe you realize oh yeah I like analyzing companies I like listening to earnings calls I like studying financial statements I like looking at the balance sheet I like looking at the income statement I like valuing a company and I'm actually pretty good at it so maybe now you don't invest in these funds you're looking for individual companies"

"maybe you say I hate stocks I like investing in real estate I like being involved I like working with tenants I like working with management companies I like Building Systems and processes and so maybe you'll go into real estate"

"the same investing strategy is not going to work for everybody some people are going to work better in the stock market some people are going to work better with passive Investments like ETFs and index funds and mutual funds some people are going to work better with individual stocks some people are going to work better by investing in real estate some people are going to work better by investing in startup companies"

"it's not enough to just make more money you gotta keep the money you make why is that so important because anybody can make money because if you're making a million dollars a year and you end up living check the check the guy who's making a hundred thousand dollars a year and has twenty five thousand dollars saved is more wealthy"