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00:01:34.640 | Hello, and welcome to another episode of All The Hacks, a show about upgrading
00:01:43.280 | your life, money, and travel all while spending less and saving more.
00:01:47.440 | I'm your host, Chris Hutchins, and I am excited to have you on my journey.
00:01:51.000 | Today, I'm talking to Jaspreet Singh, who I just met last month at a conference
00:01:56.080 | called FinCon, where he was one of the keynote speakers.
00:01:59.320 | He's a first-generation American, a licensed attorney, and he's been an
00:02:02.840 | entrepreneur his whole life.
00:02:04.000 | But in 2015, he decided he wanted to help others avoid the business and financial
00:02:08.520 | mistakes he made.
00:02:09.360 | So with zero subscribers, he posted his first video on YouTube about what he
00:02:14.040 | called the minority mindset.
00:02:15.600 | Well, it resonated deeply, and he's since turned the minority mindset into a full-on
00:02:20.720 | financial media company and YouTube channel with over a million subscribers.
00:02:24.480 | In our conversation, we'll talk about what a minority mindset is and how you
00:02:28.360 | can have one yourself.
00:02:29.440 | We'll hear some of the mistakes and learnings Jaspreet's had and his advice
00:02:33.800 | for getting through the tough early days of any entrepreneurial project.
00:02:37.000 | And finally, some of his favorite financial tips and hacks.
00:02:40.640 | So I hope you enjoy this interview with Jaspreet Singh.
00:02:43.720 | Chris Hutchins works at Wealthfront.
00:02:45.720 | All opinions expressed by Chris and his guests are solely their own opinions and
00:02:49.840 | do not reflect the opinion of Wealthfront.
00:02:51.720 | This podcast is for informational purposes only and should not be relied upon for
00:02:55.920 | investment decisions.
00:02:57.880 | Jaspreet, thank you for being here.
00:02:59.480 | Chris, that was an amazing introduction, man.
00:03:01.800 | I'm honored to be here.
00:03:03.360 | Yeah.
00:03:04.280 | So I'm just going to jump in and ask, how do you define the minority mindset?
00:03:10.040 | The minority mindset is, is literally just a mindset.
00:03:14.360 | It is the mindset of thinking differently than the majority of people.
00:03:18.040 | It has nothing to do with the way you look, your ethnicity or your skin color.
00:03:21.320 | And so for us now talking about that, we focus in on the financial side of the
00:03:26.040 | minority mindset.
00:03:27.000 | I mean, it's thinking differently than the majority of people when it comes to
00:03:29.760 | your money.
00:03:30.400 | Can you talk a little bit about what led you to start thinking this way and build
00:03:35.720 | an entire brand about it?
00:03:36.960 | Was it your background or how did you come to this?
00:03:39.520 | Yeah, I mean, I grew up in a very traditional Indian house where
00:03:45.080 | entrepreneurship, financial education, investing were all topics that I never
00:03:50.600 | grew up learning about.
00:03:52.080 | Not only did I not grow up learning about them, but they were actively
00:03:55.760 | discouraged in my house because, you know, like you said, my parents are
00:03:59.720 | immigrants and my dad came to this country with less than a hundred bucks.
00:04:03.600 | He bust his butt worked every single day.
00:04:06.440 | And for him, when he wanted me and my brother to become successful, the way
00:04:10.920 | that they did that in their mind was by having us become doctors.
00:04:15.560 | So since I was a kid, I was always told that I needed to study hard in school so
00:04:18.480 | I can become a doctor and anything that wasn't going to help me on my path of
00:04:23.480 | becoming a doctor was a waste of time.
00:04:25.520 | So even sports weren't that much encouraged when I was a kid, because why
00:04:30.080 | would you go out and play football when you could be studying to become a doctor
00:04:33.800 | and doing anything that wasn't really directly correlated with becoming a
00:04:38.240 | doctor was a waste of time.
00:04:40.120 | And so I always had this entrepreneurial bug.
00:04:43.320 | I always thought differently.
00:04:45.280 | I always wanted to create value.
00:04:46.840 | When I was a kid, I was mowing my neighbor's lawns.
00:04:48.760 | I was delivering newspapers for my neighbors.
00:04:51.920 | And then when I got into middle school, early high school, I started playing a
00:04:56.480 | drum called the dhol, an Indian drum at weddings.
00:04:59.240 | And I was also working on Auntie Anne's pretzels.
00:05:03.240 | I was making like $5.85 an hour when I worked at Auntie Anne's pretzels,
00:05:08.920 | because I was under 18, so they could play me below minimum wage.
00:05:11.800 | And then when I started playing this drum at weddings, at first I was
00:05:15.440 | charging like $50, $60 an hour, but then I got a little bit better because I
00:05:20.480 | sucked when I first started, and then I would charge somewhere between $200 to
00:05:24.000 | $300 an hour, and now I'm like, wait, I got to work for two weeks at the pretzel
00:05:29.200 | shop to make $200 to $300, but I can make the same money in an hour at a wedding.
00:05:34.040 | So things started to click.
00:05:35.600 | And so that's when I really started to think differently than the majority of
00:05:38.600 | people and my junior and senior year in high school, I started hosting teen
00:05:44.320 | parties for kids in my school because I knew a lot of the DJs, then the real
00:05:49.720 | shift happened when I went to college, because, you know, I didn't really have
00:05:54.960 | any guidance on what college was like in America and what to expect in college.
00:05:59.960 | I thought that everybody went to college to study and become super successful,
00:06:04.680 | because if you study hard in college, you are guaranteed to become successful.
00:06:08.760 | Well, I go to college and everybody around me is partying.
00:06:13.560 | I thought you spent your Friday nights in the chemistry lab doing reactions.
00:06:17.760 | And I got there and I could not believe that people were partying.
00:06:21.560 | First off, none of you have any money because all y'all are here, the student
00:06:25.760 | loans, so you're blowing your student loans at these parties.
00:06:28.960 | And I couldn't believe it.
00:06:30.120 | So I was like, you know what, I never drank.
00:06:32.720 | I never got into the party scene, like myself partying, but I was like, instead
00:06:36.240 | of me being like the majority of people and going to all these parties, how
00:06:39.400 | about I start hosting the parties?
00:06:41.120 | I was knocking on every club and bar and restaurant at my college, asking
00:06:45.720 | them if I can host parties there.
00:06:46.880 | And I don't have, you know, money to go and buy a venue or rent out a venue.
00:06:51.080 | So I would ask them to see if we could work something creative out where
00:06:54.840 | they wouldn't charge me anything.
00:06:55.920 | They would get to keep all the revenue from the bar and then they would take
00:06:58.560 | like 50% of the cover that I charged.
00:07:02.120 | And then I started learning about investing.
00:07:03.600 | I started reading books.
00:07:04.680 | I started diving into more of real estate investing.
00:07:08.240 | When I was 19, I bought my first rental property.
00:07:10.360 | It was funny because it was the day after I took my MCAT, which is the
00:07:14.200 | test you take to get into medical school.
00:07:16.000 | And the whole time that I was studying, anytime I took a break, I would go
00:07:20.240 | onto Yahoo finance and every article talked about how the real estate market
00:07:25.200 | is crashing, it's at rock bottom.
00:07:26.880 | Cause this was after the 2008 crash.
00:07:28.640 | And I knew nothing about real estate investing.
00:07:31.520 | The books that I read said that every wealthy person invests in real estate.
00:07:34.600 | And I knew I wanted to invest in real estate, but I had no one to ask how it
00:07:38.560 | worked or, or what the process was.
00:07:41.080 | So like in my breaks of studying for the medical college admission test, I would
00:07:46.440 | look at properties online and go see some.
00:07:49.160 | And I took my MCAT on August 22nd and August 23rd, I closed on my first property.
00:07:54.360 | It was a 1000 square foot condo that the owners had originally bought for like
00:07:59.800 | $120,000 to $150,000, somewhere in that range, the crash happened.
00:08:04.320 | The bank took it over.
00:08:05.240 | Now the bank was selling this property for eight grand.
00:08:09.160 | So I purchased it for $8,000, rented it out.
00:08:12.400 | And that's where the whole shift really started.
00:08:14.960 | Wow.
00:08:16.360 | And at this point you said you were still taking your MCAT.
00:08:19.120 | Did you still think at this time you were going to be a doctor?
00:08:21.720 | Yes.
00:08:22.960 | And then no, it was through the MCAT.
00:08:27.560 | I thought I was going to be a doctor.
00:08:28.800 | I was, I knew that I wanted to be an entrepreneur.
00:08:31.960 | I learned the word entrepreneurship when I was in college.
00:08:34.440 | And I, and I really related with that, but I'd never thought that I could not be a
00:08:40.440 | doctor because I felt like I was too deep into it.
00:08:43.200 | And it's funny saying that now, because I was only 18, 19 years old, but I was like,
00:08:47.560 | you know, I did all these volunteering hours in high school.
00:08:50.000 | I did all this job shadowing where I shadowed a whole bunch of doctors.
00:08:53.560 | I did these pre-med clubs.
00:08:55.640 | I went to these conferences.
00:08:56.920 | I took all the pre-med classes, did the prereqs all the way into pre-med.
00:09:00.920 | I don't know anything else.
00:09:02.040 | So I have to become a doctor.
00:09:03.480 | So I didn't know that I had other opportunities or options.
00:09:08.800 | And it wasn't until after I got this property really taken care of and started
00:09:13.520 | to rent out that I was like, you know, I like this.
00:09:17.920 | I like the whole idea of financial education and entrepreneurship.
00:09:21.880 | This is what I want to do.
00:09:23.240 | And then I also had this dilemma in my mind, because if you become a doctor, the
00:09:28.480 | way you make money is by treating patients.
00:09:30.360 | And if I'm trying to just maximize the dollars that I can earn, I'm trying to see
00:09:35.280 | as many patients as possible.
00:09:36.680 | So something just didn't make sense to me.
00:09:38.920 | Like if you want to be a doctor, you should be a doctor because you love medicine.
00:09:42.600 | But I felt like I was going down it for the wrong reasons because I felt like I was
00:09:45.720 | becoming a doctor because I wanted to make money and I could not be okay with that.
00:09:50.800 | So that was when I made the decision that I don't want to be a doctor because I was
00:09:53.760 | doing it for all the wrong reasons.
00:09:55.000 | Wow.
00:09:55.920 | So, so even though you might've had that minority mindset on your personal kind of
00:10:02.080 | college experience, starting parties and that kind of stuff, it was still there on
00:10:06.800 | the doctor until you crossed that threshold, which I think is something I thought about
00:10:11.280 | when I was preparing for this was it's easy to say, I want to think differently.
00:10:15.800 | I want to not be what everyone else is.
00:10:17.600 | How do you hold yourself accountable to that?
00:10:19.960 | Well, it really just goes down to what is your reason for doing whatever it is that
00:10:23.800 | you do?
00:10:24.040 | What is your purpose?
00:10:25.040 | And for me, my purpose was really giving myself, my parents, my family, the things
00:10:31.600 | that we never had.
00:10:33.040 | My grandparents were refugees in India, the state of Punjab where we're from was
00:10:38.200 | severed in 1947.
00:10:39.560 | When that happened, my grandparents were kicked out of their homes, lost their
00:10:43.360 | homes, their family members, their friends, they lost everything.
00:10:47.440 | All they had was the clothes on their back and a sword in their hands.
00:10:51.000 | And they had to literally now migrate to the new East side of India.
00:10:55.240 | And if you did not, you were going to be killed.
00:10:57.160 | And my grandfather saw his uncle get killed in front of them because they got
00:11:01.880 | attacked by a mob, came to a new country and had to hustle to make it work.
00:11:06.000 | Then my parents came to this country with next to nothing.
00:11:09.920 | And my grandparents came here and they helped raise me.
00:11:12.760 | So I was instilled with these cultural values of understanding the struggle that
00:11:16.960 | my grandparents went through, seeing the struggle that my parents went through.
00:11:20.160 | So I wanted to make sure that I could take care of them.
00:11:23.640 | I always had that instilled in me, which was why I felt like I worked really hard
00:11:27.320 | in school. I wasn't always the best student, but I always wanted to do the
00:11:31.440 | right thing because I wanted to give back to my parents and my family.
00:11:34.840 | And then the next thing was when I decided to be an entrepreneur, I lost all
00:11:41.080 | support. Everyone thought I was like lost my mind.
00:11:43.440 | My parents told me that I was stupid.
00:11:45.440 | I was throwing everything away.
00:11:46.680 | I had family members, uncles and aunts calling me saying, oh, are you sure you
00:11:50.920 | want to do this? You're throwing away the opportunity to become successful.
00:11:54.200 | We have these community centers called Gurdwaras, our version of a temple.
00:11:59.600 | I would go there and the people would be making fun of me like, oh, so you were
00:12:04.280 | going to be a doctor, but now you're doing these little businesses and stuff.
00:12:07.960 | And it's like, you know, they were like just like poke jabs at you.
00:12:10.280 | So that was like the next thing where I was like, you know what, screw you.
00:12:13.520 | I'm going to prove everybody wrong because I want to be successful, not only
00:12:18.040 | to take care of my family, but now to show the world that, hey, that you can do
00:12:21.120 | what you love and be successful doing it if you understand how money works and if
00:12:25.680 | you are passionate about it.
00:12:27.080 | So for me, it was knowing my purpose or, you know, they say don't do something out
00:12:32.760 | of spite, but this all started out of spite.
00:12:35.000 | I wanted to prove everybody wrong because I was just so angry at how I got no
00:12:39.400 | support and how I never learned about money.
00:12:42.240 | I mean, it just it angered me so much that when I started learning about
00:12:45.960 | financial education and money that I had gone through so much schooling, but I
00:12:49.880 | didn't learn a thing about building wealth.
00:12:51.640 | Wow.
00:12:53.480 | And how were you feeling during this kind of family is, you know, on top of you?
00:12:59.400 | How did you get through that?
00:13:00.800 | I mean, in terms of feelings, I've had a lot of anxiety at that time, and I'm not
00:13:05.160 | going to lie, because there was that feeling where I was not putting that much
00:13:10.120 | time as I could have been in school.
00:13:12.960 | I went to law school when my parents found out that I wasn't going to be a
00:13:15.400 | doctor.
00:13:15.760 | They're like, you have to at least become an attorney.
00:13:17.480 | And I settled with that.
00:13:19.120 | I was like, that's okay, because at least with law school, I can go part time and I
00:13:22.200 | can build my businesses, the other part.
00:13:23.920 | So I was doing that.
00:13:26.920 | And when I knew that I wasn't putting in my time into school to get a traditional
00:13:33.520 | job, I knew that I have to be able to support myself and that risk of me
00:13:39.040 | potentially failing used to keep me up at night, because I'm like, you know, what
00:13:42.520 | am I going to do if things don't work out?
00:13:44.440 | What am I going to do if I can't make money?
00:13:46.040 | What if I do if my businesses fail?
00:13:47.440 | What if I do if everything goes wrong?
00:13:48.840 | And I used to have a lot of anxiety, but to kind of counterbalance that I worked as
00:13:55.120 | much as I could.
00:13:55.840 | I mean, I worked my butt off when I was like in college, I was sleeping very, very
00:14:00.680 | little.
00:14:01.080 | I used to joke that if I got four hours of sleep, that was a good night.
00:14:04.880 | I'm not saying that you need to do that.
00:14:06.640 | But it was just the only option that I had because I did my business in secret.
00:14:10.320 | I was going to school all day.
00:14:11.720 | I was studying.
00:14:12.320 | Then I would run my business in the evenings and early mornings.
00:14:15.080 | And then I have to host parties Thursday nights, Friday nights and be at the club or
00:14:18.120 | venue until 2 a.m.
00:14:19.280 | And then I got to sit there and make sure everything is good.
00:14:22.400 | So I'd be there after 2 a.m.
00:14:24.320 | until three, three thirty, get home by four, then start everything back up the next
00:14:28.040 | morning.
00:14:28.440 | So it's rough.
00:14:30.800 | There's a lot of risk.
00:14:31.920 | How do you kind of balance that you work your butt off?
00:14:35.480 | Wow, yeah, we've all been there, starting companies, doing projects.
00:14:39.800 | It's a lot of work.
00:14:40.680 | What advice do you have for someone who feels like they're stuck in that kind of
00:14:45.400 | traditional rat race where they're like, gosh, I've always assumed that I have to
00:14:49.960 | take this job and get this house and have this family and have these kids?
00:14:53.080 | And is there any tactics for just jump starting or kicking off the thinking, as
00:14:59.000 | you say, as a minority mindset?
00:15:00.480 | Yeah, I mean, there's two aspects to that.
00:15:02.520 | First is the mindset aspect.
00:15:04.800 | And then you have the financial aspect on the mindset side of things.
00:15:08.080 | Once you decide that, hey, I don't want to live like this anymore.
00:15:11.360 | You've got to figure out whatever it is that you want.
00:15:14.360 | Do you want to start a business?
00:15:16.680 | Do you want to start investing?
00:15:17.800 | Or what is it that you want to do that is going to change your life?
00:15:20.520 | And you have to understand that, you know, you have to make that decision for
00:15:23.360 | yourself, that you want to change your life financially and you have to believe
00:15:27.120 | that it's possible for you and you have to be willing to do whatever it takes.
00:15:29.880 | And you have to start learning.
00:15:30.960 | I used to read books to learn.
00:15:32.800 | Now you have so much education on YouTube or podcasts or wherever.
00:15:36.760 | You can just start learning from people that have done what it is that you want
00:15:39.600 | to do and really start shifting your mindset to understand that this is possible.
00:15:43.600 | The next thing is the financial side, because the reason why so many people are
00:15:48.840 | scared to make a change is because it's fear.
00:15:52.680 | What happens if I start this business and it fails and now I lose my job and I can't
00:15:59.880 | get another job?
00:16:00.560 | Now, how am I going to support my family?
00:16:02.680 | And it's that fear.
00:16:03.680 | But you're worried about the risk of you starting something new or doing
00:16:08.920 | something new.
00:16:09.680 | But what about the risk if you don't start something new, then you're going to
00:16:14.400 | be stuck in that same position for the rest of your life.
00:16:17.200 | So there's a risk both ways.
00:16:18.960 | One of them has more immediate risk.
00:16:21.120 | One of them is more long-term risk.
00:16:23.920 | And so you got to understand that everything you do has risk.
00:16:26.920 | But now, if you want to mitigate that risk of doing something different, whether
00:16:30.680 | it's investing or starting something of your own, the way you mitigate that risk
00:16:34.920 | is just building yourself a financial cushion.
00:16:37.480 | And so that means cut out the crap when it comes to spending, build a savings
00:16:43.640 | cushion, build some extra reserves so that way now if things go wrong, you have
00:16:48.960 | some money to fall back on, buy some assets, build investments.
00:16:53.560 | And now you can pick and choose.
00:16:54.840 | Like I had a conversation with a buddy of mine.
00:16:56.440 | He was like, OK, you know, if I have $50,000 right now, what do I do with it?
00:17:00.400 | And it's not such an easy question to answer because you have to
00:17:03.280 | understand where are you in life?
00:17:05.560 | Do you have a spouse?
00:17:07.080 | Do you have kids you got to take care of?
00:17:08.680 | Or are you young and you can take as much risk as possible?
00:17:11.440 | Because if you're young, you're 22 years old, you don't have any
00:17:13.920 | responsibilities, do the riskiest things possible that, you know, you believe
00:17:19.080 | in, that you think could have future returns, but you know, you can take a
00:17:21.920 | whole lot more risk when you're 22 than you can when you're 45.
00:17:24.600 | Yep.
00:17:25.480 | And so it's understanding where you are in life and then taking action to
00:17:30.560 | get out of that.
00:17:31.160 | Yeah.
00:17:32.040 | Two things that come to mind when I think about this.
00:17:34.400 | One, when you start a company or start a project or like you did start a site on
00:17:39.160 | YouTube, you don't have to quit your job to do that, right?
00:17:42.080 | There's a lot of ways to get started on the side.
00:17:44.680 | I know you've talked a lot about how people should start stacking income
00:17:48.720 | and building multiple streams.
00:17:50.240 | So that's one.
00:17:51.080 | And the other was, I was talking to someone who worked at one of these cushy
00:17:55.440 | six figure tech jobs and had an entrepreneurial bug and felt like they
00:18:00.360 | really needed to quit to do it.
00:18:01.680 | But I pointed out that if they weren't giving up their six figure job for their
00:18:05.240 | whole life, it doesn't take 10 years to find out if a business is going to be on
00:18:09.920 | a good track.
00:18:10.520 | You can usually get a good sense in six months, nine months, sometimes even two
00:18:15.480 | or three months.
00:18:16.120 | So I always tell people don't think about the cost of starting a business as not
00:18:21.280 | having your salary forever.
00:18:22.840 | It's the cost of not having your salary for maybe six months, maybe nine months,
00:18:26.920 | which for many people is really hard, which is why I really suggest starting
00:18:31.360 | things on the side.
00:18:32.400 | But don't think about it as a forever thing, because it's an experiment that
00:18:36.240 | that you can usually get data on soon.
00:18:38.000 | Yeah, started on the side and started with as little expenses as possible.
00:18:42.400 | I mean, you talk about YouTube, it kills me when I hear people telling me that
00:18:46.600 | they're going to start a YouTube channel, and they just invested $5,000 in
00:18:50.720 | equipment, cameras, lighting, microphones, and you haven't even made a single
00:18:55.960 | video.
00:18:56.480 | What the heck are you spending money on?
00:18:58.760 | Before you do that, start, hustle, be creative.
00:19:04.200 | I mean, this, this is the trait that every successful entrepreneur has.
00:19:08.680 | Because if you have too much money, then what do you do?
00:19:11.200 | You're going to spend it on dumb things before you realize where that money
00:19:14.600 | needs to go.
00:19:15.360 | And there's so many ways to be creative.
00:19:18.640 | And it doesn't matter what the business is.
00:19:20.120 | It doesn't have to be a YouTube channel or a content creation business.
00:19:23.280 | You know, I've created products, I built a water resistant sock company.
00:19:28.080 | And I spent very little money starting it because I don't have that much money.
00:19:32.600 | But I was creative.
00:19:33.840 | I had to work with textile engineers and manufacturers.
00:19:38.160 | And how do you do that when you don't have a lot of money to create products
00:19:42.600 | and create technology?
00:19:43.600 | Well, you get on the phone and you call a lot of people and you see how many of
00:19:46.920 | them are willing to work out creative deals, where they're willing to get paid
00:19:50.000 | after you start selling your product, or they're willing to do it in exchange for
00:19:53.320 | some sort of revenue share of your product, or they're willing to do
00:19:55.640 | something creative, where you don't have to front all the cash.
00:19:58.560 | And it's that creativity, which really separates the successful entrepreneur
00:20:02.800 | from a wantrepreneur who's like, I need $100,000 to start a business because
00:20:07.520 | otherwise I can't.
00:20:08.320 | It doesn't work like that.
00:20:09.680 | You got to be able to find a way to make things happen.
00:20:13.280 | And it's all about being creative, asking different questions and putting in the
00:20:16.840 | extra work to find somebody who's willing to work with you.
00:20:19.000 | Yeah.
00:20:20.240 | It seems like with every business, you get to a certain size and
00:20:25.080 | the cracks start to emerge.
00:20:26.880 | Things that you used to do in a day are taking a week and you have too many
00:20:31.000 | manual processes and there's no one source of truth.
00:20:33.960 | If this is you, you should know these three numbers.
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00:21:48.440 | There is nothing I love more than learning that something I enjoy
00:21:53.600 | is actually so good for you.
00:21:55.320 | And nothing showcases that better than Pu-Erh tea.
00:21:58.080 | It has so many health benefits, and I think one of the best and easiest ways
00:22:01.960 | to consume it is from our sponsor today, Peak Tea.
00:22:04.960 | Peak's Pu-Erh teas are all cold extracted using only wild harvested leaves from
00:22:10.040 | 250 year old tea trees, rich in minerals, theraflavins, and catechins.
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00:22:33.080 | They have so many products, but lately I've been alternating between the
00:22:36.960 | green Pu-Erh for mental clarity and energy, and the black Pu-Erh, which
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00:23:26.800 | And I'll go back to your YouTube example, because there's something I
00:23:29.920 | heard you say at FinCon was when you posted your first video, there weren't
00:23:33.840 | a lot of views, and I think that continued for your second, third, fourth
00:23:37.720 | video.
00:23:38.200 | Oh, yeah.
00:23:38.600 | I even heard you say that a lot of the views in your early days were just you
00:23:42.320 | refreshing the page, but...
00:23:43.760 | I used to hit the refresh button a hundred times on all of my early videos
00:23:47.480 | because I used to post a video and nobody would watch it, so I was like,
00:23:51.120 | well, I don't want to have a video with six views on it, so I used to go there,
00:23:54.800 | watch the video, and hit refresh a hundred times on each video, that way it
00:23:57.720 | at least looks like I got three digits worth of views, a hundred views.
00:24:01.160 | And so I know there's a lot of people listening who have some topic that
00:24:05.040 | they're passionate about.
00:24:06.000 | It's the thing that, you know, people light up at the dinner table when
00:24:09.040 | they're talking about, and whether the medium is YouTube or Instagram or
00:24:13.000 | TikTok or anything, there's so many options, starting a blog.
00:24:16.200 | When you get started, and I remember this myself, nobody's really listening
00:24:21.640 | at the beginning.
00:24:22.280 | What did you say to yourself, or how did you commit to yourself to keep going,
00:24:27.920 | knowing that that early part is so hard and feels like there's no traction, but
00:24:33.080 | clearly, you know, the message you had when you started and were getting no
00:24:37.200 | views, that message was about the minority mindset, and that's your brand
00:24:40.760 | now.
00:24:40.960 | So that message resonated.
00:24:42.360 | It just took a long time.
00:24:43.880 | How did you push through that hard part where nobody was watching, but you
00:24:48.800 | thought what you were saying was interesting?
00:24:50.560 | I mean, this is where you have to be a little bit crazy.
00:24:53.080 | This is why they say all entrepreneurs are a little bit crazy, because you have
00:24:57.080 | to do it for more than just financial reward.
00:25:00.400 | I did not start a YouTube channel to make money.
00:25:03.120 | I started it because I wanted to spread this education on first how to launch a
00:25:06.880 | business without getting screwed over, which eventually transitioned into the
00:25:10.440 | financial education I wish I would have learned when I was getting started.
00:25:13.800 | And so for me, it was more about the message of getting this information out
00:25:18.440 | there than it was about how much money can I make?
00:25:21.160 | Because we'll focus on YouTube, but this goes across any business idea.
00:25:25.400 | If you start a YouTube channel for the purposes of making money and getting
00:25:28.480 | rich, you are going to fail.
00:25:30.400 | Like it is so hard to build any sort of business, brand, channel for the
00:25:36.680 | sole purpose of making money.
00:25:38.280 | But if you're doing it with the passion and with purpose, because you love what
00:25:42.760 | you do, people are going to see that and they're going to believe you more.
00:25:46.720 | And they're going to listen to you because they're going to feel it.
00:25:48.960 | The thing that makes YouTube so cool is it is controlled and watched by people
00:25:52.840 | because people can watch you and they'll say, this guy's not talking about good
00:25:57.640 | stuff.
00:25:57.960 | I don't like this or, you know, I don't, whatever.
00:26:00.480 | And they can leave because they feel like you just, you're just trying to make
00:26:03.560 | money off of them.
00:26:04.280 | But if they feel you're passionate, they love what you're saying, that they will
00:26:06.680 | watch you.
00:26:07.240 | And so it has to go down to what is it that you're doing it for?
00:26:10.560 | And for me, I mean, everything that I say, I can tell you this, I speak from my
00:26:14.400 | heart, everything I say I'm passionate about, the reason why I'm so passionate
00:26:17.360 | is because, you know, I'm confident about what I say, because I've lived through
00:26:21.160 | this, and I love what I do and what I talk about.
00:26:25.800 | I mean, everything is coming straight from my heart, because this is important
00:26:30.240 | to me.
00:26:30.640 | Yeah, well, that is a perfect segue.
00:26:34.480 | So money, financial, everything that's important to you.
00:26:37.800 | And and it's something I really want to dive into, because it's a topic I'm also
00:26:41.560 | really passionate about.
00:26:42.400 | So as long as we're two money nerds, as I've seen you call yourself, and I know I
00:26:46.080 | call myself, how do you manage your own finances?
00:26:48.560 | What do you do that that is in the minority in terms of how you manage
00:26:52.440 | that's different from other people?
00:26:53.680 | Well, I, I don't work in minority mindset to make money, I work to buy
00:27:02.200 | assets.
00:27:03.000 | And so the way that our income works, my income, if you want to look more on the
00:27:06.640 | business side is I follow what I call an 8020 rule, where if I make $10,000, me
00:27:13.680 | personally, for minority mindset, whether it's through ads or sponsors or
00:27:16.440 | whatever, 80% of that goes right back into the company.
00:27:19.800 | And that will be used to now build software or, or expand on our website or
00:27:26.760 | hire more team members, we have an amazing team here of people that are way
00:27:30.160 | smarter than I am, people who run our newsletter, our blog, our academy.
00:27:34.400 | So you know, we have an amazing team of people that I'm now investing in there.
00:27:39.840 | And then the other 20% that comes to me, most of that is now being invested into
00:27:45.360 | other assets, things like real estate, things like stocks, things like
00:27:48.680 | startups, and cryptocurrency and gold.
00:27:52.560 | So, you know, I'm investing in a lot of different places.
00:27:56.200 | And so that's the way I look at it is, you know, I'm not working for money, I'm
00:28:01.040 | working for assets.
00:28:02.120 | And so for me, I save cash, because you know, you have to have cash for
00:28:05.320 | emergencies, I understand that.
00:28:06.880 | But I also I want to own assets, I want to I want to own real estate, because
00:28:12.040 | real estate pays me with cash flow.
00:28:13.600 | I love real estate, because I can revitalize properties.
00:28:16.000 | I'm an entrepreneur, I love buying distressed properties.
00:28:18.960 | Because I want to be able to fix it up, I can make neighborhoods more lively, make
00:28:24.120 | it look better.
00:28:24.920 | I love that aspect of it.
00:28:26.600 | Plus, you can create that predictable cash flow, and you get tax breaks, real
00:28:30.720 | estate has some of the best legal tax breaks that our tax code has to offer.
00:28:35.200 | Second, I invest in the stock market, because I believe in the American
00:28:39.320 | economy.
00:28:39.960 | Like I said, we know we have the strongest economy in the world.
00:28:42.360 | So the stock market is a way for you to get exposure to the American economy.
00:28:46.160 | Third, I invest in startups, because I'm an entrepreneur.
00:28:51.240 | I love entrepreneurship.
00:28:52.720 | And I want to support entrepreneurs in as many ways that I can.
00:28:54.920 | So I invest in startups.
00:28:56.360 | Then I invest in cryptocurrency, because people are trying to take control over
00:29:01.840 | their own money.
00:29:02.480 | This this this is a new movement literally being created by people from the bottom
00:29:07.400 | up.
00:29:07.640 | And then I own gold.
00:29:09.360 | Because in case I'm wrong about the economy, I invest in stocks because I
00:29:14.480 | believe in the economy.
00:29:15.440 | If I'm wrong, I own gold.
00:29:17.040 | It's not like a 20, 20, 20, 20, 20% spread.
00:29:20.280 | Gold is my smallest.
00:29:21.760 | That's my insurance.
00:29:22.960 | Is this physical gold?
00:29:24.880 | Physical gold.
00:29:25.880 | And so you know, you it's that diversification for me, because I can't
00:29:30.360 | predict the future.
00:29:32.760 | I can't predict what's going to win.
00:29:34.520 | But I can I can allocate my resources accordingly.
00:29:38.960 | Yeah, I'm a fan of a similar diversification strategy.
00:29:43.680 | But one interesting thing I've heard you say, which is a little bit more minority
00:29:47.680 | mindset is that you don't think one job will be enough for most people.
00:29:51.480 | And that you know, I read that as you don't just need to diversify where you put
00:29:54.960 | your money, but you need to diversify where you get your money.
00:29:57.360 | So I'm curious to hear why you think people will need, you know, multiple
00:30:01.800 | streams of income beyond just their job and what you think some of the best ways
00:30:06.040 | for people to get started to stack their income beyond their job.
00:30:08.920 | So if we look a few decades ago, we used to live in an economy where households
00:30:16.960 | were supported by one income.
00:30:18.240 | It was a man going to work.
00:30:20.960 | And in most cases, the woman of the house did not go to work.
00:30:24.680 | Not saying that's what's right.
00:30:25.800 | This is just how it was.
00:30:28.160 | And in that one income household case, that one income was able to support
00:30:34.640 | buying a home, buying a car and putting kids through school and vacations and
00:30:40.760 | retirement.
00:30:41.440 | And it was enough to live.
00:30:43.640 | Now we're in a generation where we have two income households.
00:30:48.440 | I mean, it's dumb that we didn't have equality before, but you know, it's
00:30:52.080 | great that we're moving towards equality.
00:30:54.520 | But now you would assume that if we have two people working in a house,
00:30:58.520 | households should be twice as wealthy, right?
00:31:01.600 | Because people are making more money.
00:31:03.200 | But that's not the case.
00:31:04.760 | We have two income households, yet people are broker than ever.
00:31:10.720 | Why?
00:31:11.800 | Because one goes back to everything that we just talked about.
00:31:14.480 | The cost of living has been skyrocketing relative to wages.
00:31:19.920 | Part of that has to do with the fact that our dollar values have been
00:31:24.640 | diluted over the last hundred or so years.
00:31:27.040 | And wages have gone up, but not relative to our cost of living.
00:31:33.080 | In addition to that, we also have a higher standard of living.
00:31:35.920 | You know, back in the day, you didn't have an iPhone and a MacBook and smart
00:31:41.480 | watches and all these other fancy things that we have now that everybody wants
00:31:45.480 | to have.
00:31:46.840 | Couple that with the growth of technology, which allows you to buy now, pay later.
00:31:50.880 | And so this is the change in our spending culture, where prices of things are
00:31:57.440 | higher, we want more things, and we're financing our things.
00:32:01.680 | And now you have two incomes that are struggling to support this.
00:32:05.280 | Plus you have student loans, which are, interestingly, the biggest liability for
00:32:11.200 | young people, millennials, but it's also the biggest asset for the United States
00:32:16.800 | government.
00:32:17.440 | So now if you want to be able to afford this life and build wealth, you're going
00:32:23.480 | to need more money.
00:32:24.160 | And the way I look at it is, you know, saving is important.
00:32:29.440 | When I say saving, I mean living below your means.
00:32:32.000 | Living below your means is important where you have extra cash.
00:32:35.480 | But there's only so much that you can cut.
00:32:38.800 | There's only so many expenses that you can cut down.
00:32:41.520 | And yeah, some people are going to be more aggressive than others.
00:32:44.640 | But at the end of the day, if you're making $100,000 a year, there's only so
00:32:48.600 | much that you can cut.
00:32:50.240 | Even if it's $30,000, there's only so much that you can cut, but there's no
00:32:54.080 | limit to how much you can earn.
00:32:55.400 | And so this is the growth mindset of understanding, okay, yes, I need to live
00:33:00.200 | below my means.
00:33:00.920 | I need to put some extra money aside for my pay down my credit card debt to start
00:33:06.040 | investing, to build wealth, to invest in my business, whatever it is.
00:33:08.800 | But now I need to earn more money that way I can actually accelerate my path to
00:33:13.240 | wealth.
00:33:13.880 | And thanks to technology, it is more accessible than ever to be able to earn
00:33:18.880 | more income.
00:33:19.480 | I mean, you can drive for Uber, you can drive for Lyft, you can deliver
00:33:23.480 | groceries for Amazon Fresh, you can deliver food for Grubhub, you can deliver
00:33:27.480 | food for Uber Eats.
00:33:28.640 | Or if you want to be more involved with physical labor type of stuff, there are
00:33:33.520 | apps out there that allow you to help people move.
00:33:37.120 | You can lift heavy things, you can, if you have a truck, you can transport stuff
00:33:41.400 | in your truck, or you can come on to things like Upwork and Fiverr.
00:33:45.720 | And now you can offer your services, your thinking, your skills, you can be a
00:33:50.280 | writer, you can be a graphic designer, you can be a video editor, you can be a
00:33:54.080 | voiceover artist.
00:33:55.040 | There's so many things that you can do, where if you have a skill, now you can
00:33:59.040 | market it.
00:33:59.840 | And it has become so much more accessible because now you can go to one of these
00:34:04.240 | platforms, market your skill, and have somebody else who's looking for your
00:34:09.080 | skill pay you in order to do that.
00:34:11.480 | And these are things that you can do on your own time on your own schedule.
00:34:15.320 | Like here at the Minority Mindset, we have our core team in the office.
00:34:18.680 | And then we have like a couple dozen or so freelancers that work with us.
00:34:23.160 | A dozen of them are writers, and they write on their own time on their own
00:34:28.000 | schedule.
00:34:28.680 | And we send them topics, we give them deadlines, and then they can work their
00:34:34.120 | own job and write in the evenings or in the mornings or the lunch break or we
00:34:38.000 | know it doesn't matter to us when you write it as long as you get it to us by
00:34:40.960 | the deadline.
00:34:41.960 | And it's a win win.
00:34:43.600 | Now they're providing you're providing value for the business or whoever you're
00:34:47.160 | you're working with.
00:34:48.280 | And you get extra payment, you could do something that you love something that
00:34:52.120 | you enjoy.
00:34:52.760 | And you can do this whenever you want.
00:34:55.600 | Sometimes the smallest changes make the biggest impact and trade coffee is a
00:35:02.920 | great addition to your new year routine.
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00:35:11.840 | the best coffee across the country and brings it straight to your doorstep.
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00:36:07.440 | Do you all remember episode 122, when I spoke to chef David Chang about leveling
00:36:14.320 | up your cooking at home?
00:36:15.480 | If not, definitely go back and give it a listen.
00:36:17.960 | But one of his top hacks was using the microwave more.
00:36:21.360 | I'll admit I was a skeptic at first, but after getting a full set of microwave
00:36:26.200 | cookware from any day, I'm a total convert and I'm excited to partner with
00:36:30.240 | them for this episode.
00:36:31.240 | Any day is glass cookware specifically designed to make delicious food from
00:36:35.520 | scratch in the microwave.
00:36:36.960 | And honestly using it feels like a kitchen cheat code because it speeds up
00:36:41.520 | and simplifies the process so much.
00:36:43.760 | The cookware is a hundred percent plastic free and you can cook, serve, store, and
00:36:48.520 | reheat all in the same dish that happens to be dishwasher, freezer, and oven safe
00:36:53.920 | too.
00:36:54.280 | And if you need a recipe suggestion to kick off your any day adventure, I highly
00:36:58.520 | recommend David Chang salmon rice.
00:37:00.560 | It is so good.
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00:37:06.720 | year.
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00:37:15.240 | Again, that's all thehacks.com/anyday for 15% off.
00:37:20.680 | I just want to thank you quick for listening to and supporting the show.
00:37:25.800 | Your support is what keeps this show going.
00:37:28.880 | To get all of the URLs, codes, deals, and discounts from our partners, you can go to
00:37:34.000 | allthehacks.com/deals.
00:37:36.600 | So please consider supporting those who support us.
00:37:40.040 | I want to switch gears a little bit.
00:37:41.920 | So we talked a lot about earning money.
00:37:43.200 | We talked about investing, but when I searched your YouTube channel, there were
00:37:46.600 | a ton of videos about hacks and a lot of them were money hacks and side hustle hacks
00:37:50.720 | and that kind of thing.
00:37:51.400 | One of the categories that we haven't spent much time on is spending less money.
00:37:56.640 | What are some of your favorite tips or maybe contrarian minority mindset pieces of
00:38:01.560 | advice for people to look to save a little bit more money?
00:38:05.320 | So the interesting thing about this is there has to be a reason for why you are
00:38:11.000 | saving your money, because I grew up in a traditional Indian house and the Indian
00:38:15.320 | culture is a save first culture.
00:38:17.880 | And I joke around about this, but Indian people make a dollar to spend 20 cents.
00:38:24.400 | American people earn a dollar to spend two dollars.
00:38:27.680 | And so Indian people are bred with this save first mentality where they want to
00:38:31.920 | save as much money as possible.
00:38:33.360 | So the question first is, why are you living below your means?
00:38:36.920 | Because if it's just to save money, to save it, well, you know, there's better
00:38:41.800 | things that you can do.
00:38:42.560 | So for me, it's really understanding why, because you have this debate in the
00:38:48.160 | financial industry of people arguing over Starbucks.
00:38:51.600 | Oh, my God, you spend four dollars on a latte.
00:38:54.520 | Are you serious?
00:38:55.640 | If you compounded that four dollars at seven percent a year, do you know how much
00:38:58.360 | that would be worth?
00:38:59.040 | Now, people are arguing, is Starbucks a good or bad purchase?
00:39:02.480 | But but that's the wrong question.
00:39:04.120 | The question is, why are you spending or not spending money at Starbucks?
00:39:08.320 | Because if you're not spending money at Starbucks just so you can save an extra
00:39:12.760 | four dollars, what is that going to do for you?
00:39:15.600 | But if you have a reason for not spending your money, because right now you're
00:39:20.960 | trying to build your business and you don't have any extra money because you're
00:39:23.480 | trying to invest every extra penny possible, you're trying to buy your first
00:39:26.080 | rental property. This is where you can start to ask the question of why am I
00:39:29.640 | cutting back? For me, I was always big on investing into me and my real estate and
00:39:36.840 | my business. And the first time I made one hundred thousand dollars a year, I
00:39:40.280 | was in school and I was a student and I was making good money.
00:39:44.920 | You know, one hundred grand a year when you're a student is really good.
00:39:47.400 | And you can show off a lot of nice things when you're in college with that type of
00:39:50.720 | money. But I lived in an apartment.
00:39:52.920 | Where I was paying less than four hundred dollars a month, and that included my
00:39:57.560 | parking, my cable, my Internet, my heat and my electric, because I slept on the
00:40:05.320 | living room floor, I kept a mattress in the hallway and every night I would come
00:40:10.200 | there, drag the mattress into the living room, lay it down, put down my sheets, go
00:40:15.280 | to sleep, wake up, fold my sheets, put them away, lift up the mattress and put it
00:40:19.040 | back in the hallway. Now, I was making good money.
00:40:21.280 | I could have afforded a much nicer apartment.
00:40:23.360 | But the reason why I didn't do that was because I wanted to spend every penny
00:40:27.000 | possible and invest that right back into my business and to buy real estate.
00:40:30.600 | And so you got to ask the question of why.
00:40:33.400 | Now, when it comes to hacks, it's really just that discipline, man.
00:40:37.080 | Like I used to guest teach in Detroit public schools and Detroit public schools.
00:40:41.800 | For those of you who don't know, it is a rougher school district where these kids,
00:40:48.240 | they grow up around a lot of rough things that the teachers have had a rough time
00:40:52.280 | teaching there. And it's just a rougher area.
00:40:54.440 | So I wanted to volunteer and kind of help out.
00:40:56.400 | I was guest speaking here and I would just talk about life, motivation, money
00:41:00.560 | management, a whole bunch of different things.
00:41:03.320 | And I was talking to the kids at one of the classes.
00:41:06.480 | I asked him how many of you all are working a job and a lot of them raised their
00:41:09.520 | hands. Then I asked him how many guys have a bank account and almost nobody raised
00:41:14.760 | their hands. So, you know, I got to talk to them.
00:41:17.000 | I was like, you know, what do you all do with your money?
00:41:18.360 | So what would happen is these kids, high school kids would work at a job.
00:41:22.280 | They would get a physical check.
00:41:23.680 | Then they would walk into a liquor store or a convenience store, cash the check
00:41:28.560 | where they would pay one to 10 percent in fees to cash that check.
00:41:31.960 | Then they will go out and buy chips, pop, soda, candy.
00:41:35.800 | And on the way out, they'd only be left with half of their check.
00:41:39.480 | And so this is where we need to change the way that we're using our money.
00:41:45.360 | So I created what I call the rule of five.
00:41:47.080 | And what that says is if you cannot buy five of them, you cannot afford one of
00:41:53.000 | them. So now we're talking about liabilities, things that you don't need to
00:41:56.080 | survive, where there's a big difference between being able to buy something and
00:42:00.920 | being able to afford something.
00:42:02.280 | Because when I was talking to these kids, everyone said, you know, if I had a
00:42:05.400 | hundred dollars in my bank account, I can afford a hundred dollar pair of shoes.
00:42:08.400 | But that's not the case.
00:42:10.000 | Just because you can buy a hundred dollar pair of shoes does not mean that you can
00:42:13.200 | afford it. Nowadays, if you want to buy a hundred dollar pair of shoes, you don't
00:42:16.960 | even need a hundred dollars.
00:42:18.040 | All you need is a credit card or or access to these buy and I'll pay later
00:42:21.800 | platforms. But what you have to understand is there's a huge difference between
00:42:26.080 | being able to buy something and being able to afford something.
00:42:28.800 | And now when we talk about using your money the right way, you have to know the
00:42:32.400 | difference. So I like to follow the rule of five.
00:42:34.880 | You can't buy five of them.
00:42:36.360 | You can't afford one of them. You want a hundred dollar pair of shoes.
00:42:39.480 | You better be able to buy at least five of them before you can afford one of
00:42:43.160 | them.
00:42:44.160 | I love it. That's a great rule of thumb that I think I could probably find some
00:42:49.560 | purchases in my past history that that wouldn't have applied and and now
00:42:53.640 | hopefully less.
00:42:54.640 | You know, we've all been there. We've all been there, though.
00:42:56.880 | When I was younger, I used to make a lot of dumb purchases.
00:43:00.040 | It's that shift, right?
00:43:01.400 | You start to their mindset.
00:43:02.480 | When I was younger, I used to spend my money on a whole bunch of dumb things
00:43:06.480 | because that's what's normal.
00:43:09.240 | When I was in high school and I was making money, I wanted to look rich.
00:43:13.800 | So the first time I had a gig that I did and I made a thousand dollars, I was
00:43:17.880 | like, oh, my God, I made a thousand dollars, a lot of money when you're in
00:43:20.200 | high school. So I went out and I bought a thousand dollar watch, like literally
00:43:24.200 | spent all thousand dollars on one watch.
00:43:26.560 | And it was like lined up with crystals all around.
00:43:29.440 | It looks supposed to look like diamonds.
00:43:31.240 | And it was just like super flashy and blingy just because I wanted to look
00:43:35.400 | rich. I mean, back then, it's like any time I made some extra cash, I upgraded
00:43:39.920 | my car. I was driving this Toyota and I put tints on my windows.
00:43:45.000 | I upgraded the rims, put on some custom rims.
00:43:47.480 | I put in two 12 inch subwoofers in the trunk.
00:43:49.680 | I upgraded my sound system.
00:43:51.200 | I put in HID lights.
00:43:52.880 | I mean, I used to watch a lot of pit my ride in case you couldn't tell.
00:43:56.240 | So I wanted to have the coolest car.
00:43:58.080 | And I would, you know, quote unquote, invest money into my car to look rich.
00:44:03.240 | But then when I started learning about money and I started understanding, OK, I
00:44:06.960 | want to become wealthy.
00:44:08.040 | I like I want to be able to take care of my family.
00:44:09.880 | I want something better.
00:44:10.880 | So, you know, you mix that that the mindset with the right financial education.
00:44:14.960 | And all of a sudden my spending changed.
00:44:17.440 | I stopped spending money on things because I wanted to buy assets.
00:44:22.160 | And now it's like you want to buy as many assets as you can because you want to
00:44:26.280 | take care of yourself. You want to be able to live off your assets and then you
00:44:28.720 | want to take care of your family.
00:44:29.840 | That way you never have to worry about money.
00:44:31.880 | That way you can live your life and do whatever you want, because wealth
00:44:34.200 | ultimately is freedom.
00:44:35.760 | And everything that we do is, you know, you want to have freedom to live your
00:44:40.320 | life and do whatever it is that you want, because when you have the freedom, it's
00:44:44.400 | much easier to to do things that you love and do the things that you want.
00:44:48.120 | Yeah. Are there any things now that you think you spend money on that people
00:44:53.640 | would love to hear about?
00:44:54.760 | It doesn't have to be anything big.
00:44:57.560 | When you have more money, it's nice to be able to afford luxury things.
00:45:01.720 | And everybody likes that.
00:45:02.920 | But it really starts with the small stuff, because I love working out.
00:45:06.120 | I'm a gym guy and I have a gym bag that I keep with me.
00:45:11.240 | And before, what I used to do is I used to have, you know, my deodorant, my
00:45:14.920 | toothbrush, my body wash, all my stuff.
00:45:18.120 | I had one of each of these things and I kept it in my home.
00:45:21.160 | Then I'd go to the gym every day.
00:45:22.680 | I take these things from my bathroom, put it in my gym bag, walk over to the gym,
00:45:27.080 | work out, shower, do all my stuff in the gym, use my toiletries, come home,
00:45:31.560 | take all this stuff out, put it back in my bathroom.
00:45:33.560 | And it was a pain.
00:45:34.840 | Then you start to make some money.
00:45:36.960 | And then I was like, you know what?
00:45:39.160 | I'm going to make my life a little bit easier.
00:45:41.640 | So then I bought a second deodorant, a second body wash, you know, a second
00:45:46.400 | beard comb.
00:45:47.640 | And you start buying, you know, it's like it's convenience.
00:45:50.360 | And now all of a sudden, when I go to the gym, I don't got to take it out of my
00:45:53.120 | bathroom. I just pick up my gym bag and I go.
00:45:55.440 | And it's like, wow, I made it in life.
00:45:58.480 | You know what I mean?
00:45:59.040 | It's like it starts with the little things and you're able to buy more
00:46:01.440 | convenience. And this is where, you know,
00:46:04.720 | money has the ability to buy convenience for you,
00:46:10.560 | but you got to pick and choose what it is that you want, you know?
00:46:14.320 | And for some people, it's going to be some things.
00:46:17.120 | And for others, it's going to be other things.
00:46:19.200 | I go to India pretty often because my family's in India.
00:46:23.160 | And when we used to go to India, I sit in an economy class and, oh my God,
00:46:29.000 | you're going to India in 18 hour flight, sitting in an economy class.
00:46:33.520 | You're sitting like a sardine. You sit there. You can't move.
00:46:37.560 | You got someone on your left. You got someone on your right.
00:46:39.360 | You can't extend your legs. You got someone in front of you.
00:46:41.560 | You can recline like three inches and you sit there and you wait for the,
00:46:45.960 | the flight attendant to serve you some food.
00:46:47.960 | And then you can eat with your elbows to your shoulders and you're stuck.
00:46:51.440 | And it is so uncomfortable. I mean, it's such a long flight.
00:46:56.800 | And then when you walk in, it's funny that they do this,
00:47:00.160 | because when you walk in,
00:47:01.120 | you're going to walk past the business class seats and these business class
00:47:05.240 | seats that are huge. And I used to always walk past. I'm like,
00:47:09.280 | I wonder what these people do. How do you afford these seats?
00:47:12.320 | Cause it's like three to five times more to sit in business than it does in
00:47:15.440 | economy. I was like, how do these people afford this?
00:47:17.640 | Because their seats are like, you get your own cabin,
00:47:20.320 | you get your own like little compartment and your seat turns into a bed.
00:47:24.760 | And you have this,
00:47:25.600 | this flight attendant that comes and serves you and talks to you and they call
00:47:29.120 | you sir and ma'am. And I was like, oh my God, that's so cool. And still,
00:47:33.600 | you know, in terms of luxuries, the first time I flew business to India,
00:47:37.320 | oh my God, my life changed. I could not believe it.
00:47:39.440 | I could not believe what it was like to sit in a seat like that for 18 hours.
00:47:43.480 | I'm like, man, time flies. Life becomes more convenient.
00:47:47.480 | That's amazing. Awesome. Well, this has been so fantastic.
00:47:51.320 | I appreciate you sharing all these things. What are you working on right now?
00:47:55.480 | Where can people find it, man? You know,
00:47:57.560 | we're really just working on helping to spread that financial education.
00:48:00.880 | And this is across different platforms.
00:48:03.240 | Obviously we have our YouTube channel minority mindset.
00:48:05.520 | We recently launched a new YouTube channel called minority mindset news,
00:48:08.920 | where we publish daily news updates in the top finance and business
00:48:13.360 | world. We have all of our socials at minority mindset.
00:48:17.240 | You can check out our website, the minority mindset.com.
00:48:21.120 | Everything on our website is free. It's free content, man. Go check it out.
00:48:24.480 | Yeah. Well, thanks for sharing. I've checked it out. Hopefully people will too.
00:48:28.440 | I really appreciate you being here.
00:48:30.360 | I'm a little sad we didn't end up talking about guacamole since I know that's a
00:48:33.560 | big thing for you. And I also share the passion, but oh man, I dig it.
00:48:38.720 | I dig it. Yeah, me too. Thanks for being here. Thank you, Chris.
00:48:42.720 | This was a lot of fun.
00:48:43.560 | That was great. If you watch any of Jaspreet's videos,
00:48:48.240 | you'll see how passionate he is about everything he does.
00:48:51.200 | And speaking of videos,
00:48:52.840 | I've actually been recording most of the videos of these interviews,
00:48:56.160 | and I'm going to be putting them all up on YouTube.
00:48:58.520 | So I'll share more when they're up there.
00:49:00.600 | Also, thank you to everyone who's emailed questions, feedback, hacks,
00:49:05.440 | and so much more.
00:49:06.520 | Please keep them coming for the next Q and A episode and especially keep sharing
00:49:10.880 | your favorite hacks,
00:49:11.760 | because I'm going to start including them in this soon to be relaunched weekly
00:49:15.560 | newsletter. Finally, thank you so much for listening.
00:49:18.560 | You can find me at chris@allthehacks.com and I'll see you next week.
00:49:22.720 | I want to tell you about another podcast I love that goes deep on all things
00:49:39.440 | money. That means everything from money hacks to wealth building to early
00:49:42.960 | retirement. It's called the personal finance podcast,
00:49:45.960 | and it's much more about building generational wealth and spending your money on
00:49:50.120 | the things you value than it is about clipping coupons to save a dollar.
00:49:53.680 | It's hosted by my good friend,
00:49:55.560 | Andrew who truly believes that everyone in this world can build wealth and his
00:49:59.520 | passion and excitement are what make this show so entertaining.
00:50:03.000 | I know because I was a guest on the show in December, 2022,
00:50:06.920 | but recently I listened to an episode where Andrew shared 16 money stats that
00:50:11.640 | will blow your mind. And it was so crazy to learn things like 35% of millennials
00:50:16.440 | are not participating in their employer's retirement plan.
00:50:19.240 | And that's just one of the many fascinating stats he shared.
00:50:22.880 | The personal finance podcast has something for everyone.
00:50:25.840 | It's filled with so many tips and tactics and hacks to help you get better with
00:50:29.600 | your money and grow your wealth. So I highly recommend you check it out.
00:50:33.240 | Just search for the personal finance podcast on Apple podcasts, Spotify,
00:50:37.440 | or wherever you listen to podcasts and enjoy.