The 10 Laws Of Money

The 10 Laws Of Money


What’s up everybody?
I am Jaspreet Singh and welcome to the Minority Mindset. The people who never
learn the rules of money, will always be ruled by money, which is why you, who me?
Yes, you need to learn the rules of money. The ten laws of money that I’m going to go
over today, are not things that you can just find in a textbook somewhere. These
are things that I learned from starting and running my own business, from
investing, and most importantly, making a whole lot of expensive mistakes. But
before we get into the ten laws, make sure you hit that thumbs up button below,
because if you don’t hit that thumbs up button, YouTube doesn’t show our video to
anybody else. Money law number one: money is emotionless.
Having money doesn’t make you an evil person and having money doesn’t make you
a good person. Having money just gives you fuel for your life, and you, as the
controller of your fuel, get to decide how you want to use your fuel. Your money is emotionless. It doesn’t care what you tell it to do. Aww, I didn’t mean to hurt
your feelings Benji. Your money does whatever you tell it to do. If you want
to be an a-hole, hey, having money will let you be an even bigger a-hole. If you
love serving meals to hungry people, having money will let you serve even
more meals. Money law number two: money does not reward hard work. If money
rewarded hard work, then the highest-paid people would be the construction workers,
the laborers, and the people working retail and restaurant jobs. Newsflash
they’re not. If you work as a consultant making a hundred thousand dollars a year,
and you work ten hours a day, and you wanted to make more money, you could work
harder at your job, and now you might be working fifteen hours a day, and you
might get a 10% or a 20% pay bump if you’re lucky. You’re working really
really hard to make more, but you’re only marginally making more money. But at the
same time, your boss might be making 10 times more than you, but they’re not
working any harder. It’s because money does not reward hard work. Money rewards
unique value creation. But, this is where things
get tricky, because if you want to create a whole lot of unique value, you need to
work really really hard to create this unique value. But the difference here is,
now you’re working hard to create more unique value where you have an unlimited
earning potential versus, before you are working hard to make more money where
you only have a marginal return. Money law number three: money hates sitting still.
The Federal Reserve Bank can print money a million times faster than you can work
for it. When you make your money sit still, it’s becoming less and less
valuable. Your money would much rather be out working, attracting you friends, and
making you more money. Ulysses, meet your new friend Ben. That’s when money goes
to people who know how to use their money. Like, when you go shopping, the
business owner is the one making money, because they use their money to buy
things that will make them money versus you, you’re using your money to
buy things that will lose your money. And when you save your money in the bank, you
are forcing your money to sit still. Don’t move Benji. That’s when your bank
comes in and says, OK, you are abusing your money, so we’re going to come in, and
we’re going to use your money for you, because your money hates sitting still,
and you don’t know how to use your money. That’s when your bank comes in, and they
take that $1,000 or whatever you deposited in your savings account, and they turn
around, and they loan your savings to John. So that way, he can get a mortgage,
or so he can get a line of credit, or so he can get a credit card. Now your money
is working really hard for your bank, attracting them a lot of money through
interest, while you get next to nothing, because you wanted to abuse your money,
and this brings me to money law number four: with no risk, comes no return. If you
want to be wealthy, you need to ask yourself two things. One: what are my life
goals? And two: how fast can I double my money? And then see if these answers
align. If you start off with $10,000 and you double it, you have $20,000. Double
that, $40,000. Double that, $80,000. Double that, $160,000.
Double that a few more times, you’re at $1,280,000,
and now every time you double your money, you are making
millions. The faster you can double your money, the more money, the more wealth, and
the more freedom you will have. But, this is where your risk needs to align with
your life goals. When you save all of your money in a savings account, paying
0.05% a year, it will take you a hundred and thirty-eight
years for your money to double. Your money isn’t going anywhere, and you will
never achieve your goals. If you put your money into a high interest rate CD
—certificate of deposit—paying 2.5% a year, it will take you
twenty-eight years to double your money. Still, nothing significant or meaningful
is going to come out of this. If you invest your money in stocks or real estate, and
you can get a 10% return a year, now you can double your money every 7 years,
and now we’re talking, because now you can double your money seven times over
your lifetime. If you started off with $10,000, over a lifetime you could end up
with over 10 million, if you start your own business. Now, you are physically
working to grow your money, and it gets you returns of 30% to 100% a year. If
we just stick with the lower amount, 30% a year, now your money will be doubling
every 2.6 years. And so what took you a lifetime to do here, you could
do in 30 years. The further you go down this list, the better your returns are,
but it comes with more risk. When you put your money in your savings account,
you got no risk. You give your money to the bank, and you can access your money
whenever you want, but that’s all you get. No reward. No returns. When you put your
money into a CD, now your money’s tied up for a few years, which is why you get a
better return, but it’s still nothing meaningful. Now, when you invest your
money into the stock market or in real estate, now you can get a better return
on your money, but you can also lose money a lot easier, because this comes
with more return, and when you start your own business, now you have to invest your
time and your money, to grow a business with no guarantees, but you have the
highest potential. You need to ask yourself what kind of life you want to
live, and make sure that your risk is aligning with your life goals. Money law number
five: money is a game. If you want it to be a good basketball player,
you have to learn the rules of the game, and then you have to practice, practice,
practice until you can make free throws with your eyes closed. Money works the
same way. It’s just a game. If I bring back this chart, the good news is, all of
this can be learned. This is what financial education is. You probably
don’t have a class on this in school, but this can be learned. If you want to get
good at these games, you got to learn the rules, practice, practice, practice, make
mistakes and get better. We have tons of videos on a Minority Mindset YouTube
channel that can help you with that, and we even have a free ebook on money
management and investing that you can read for free, when you sign up for my
emails, and you can download that by clicking the link up here, or by clicking
the link in the description below. Money law number six: negative minds repel money.
If you wanted to repel Superman, all you need is some Kryptonite. And if you just
want to repel money, all you need is a negative mind. When you criticize
somebody else’s success, you’re not hurting them. They’re successful, they’re
doing their thing, and they’re not going to stop being successful because you’re
upset. But, you are stopping yourself from becoming successful, when you criticize
success. And that’s not all. You will 100%, without a doubt, never become successful,
if you tell yourself you cannot do it. You can do it Jaspreet. When you
tell yourself you can’t do something, your brain shuts off, and it will stop
trying, which is why instead of saying you can’t do something, ask yourself how
can I do something? Money law number seven: what you’re worth
on paper is not what you’re worth in cash. The cash in your hand is how much money
you can spend today without selling any of your assets, and without selling any
of your investments. The amount of money you’re worth on paper is how much you
think you’re worth, based on the assets that you own. Just because your stock
portfolio is worth $1,000,000 today, doesn’t mean it’ll be worth a million
dollars tomorrow. So what does this mean? It means, you should absolutely not live
a lifestyle based off of what you think you’re worth on paper.
You should be living a lifestyle based off of how much cash you have in your
hand. I cannot tell you the number of business people that I have worked with,
that start living this huge lavish lifestyles, because
of what they think they’re worth on paper. And then when things go wrong,
these are also the first people in line to lose their shirts. Money law number
eight: protect your assets. I’m an attorney, and as an attorney, I can tell
you that, when people see you have money, they will try to take their hand, put it
in your pocket, and take some of your money from you, just because they see you
got it. Get insurance, use legal shields, hire an attorney, and hire a tax
professional to help you with your taxes, because you want to keep your wallet for
yourself, instead of sharing it with the whole world. Hey! Get your hands off my
wallet. Money law number nine: act your wage. Everyone on instagram has
a Nissan GTR, a Lambo or a Porsche. At least that’s what it feels like. But, just
because you can buy it, doesn’t mean you can afford it. If you cannot buy your car
with cash, you cannot afford it. Sorry fake Instagram flexors. And when it comes
to buying a car for the show, so I’m talking about luxury and exotic cars
here. If you cannot buy five of them with cash,
you cannot afford one of them. Ooh, then I’m going to need a lot of money, before I
can buy a Lambo. Yeah, that’s the point. When I was finally starting to see some
success as an entrepreneur, I really wanted to go out, and buy a brand new
Beamer, and all of my friends around me kept saying, Jaspreet, go buy the BMW,
it will look sweet. It would have cost me like, fifty thousand dollars, which I had
ready to go, but do you know what fifty thousand dollars can do when you’re
starting off as an entrepreneur starting a business?
Fifty thousand dollars is a full-time employee salary. Fifty thousand dollars
is rent for a year. Fifty thousand dollars is a new software that can make
us more money. There’s nothing wrong with buying nice things, or buying luxury
things. But, you should only be buying luxury, when you can afford to buy it
without worrying about the price tag. And money law number ten:
diversification isn’t always the right answer. You’ve probably heard people say
that millionaires have seven streams of income. But, what you’re missing at the
end of that statement, is that the millionaire didn’t become a millionaire,
because they had seven streams of income. They became a millionaire, because they
mastered one thing. And once they figured this one thing out, that’s when they
moved on to two. And once they mastered the second, that’s when they moved on to
three. If you try to do seven things at once, because you think that’s what
millionaires do. So you try to start a business, you
try to start lending money to your cousin, try to start flipping real estate,
you’re trying to start the Shopify business. You will go nowhere. Be the
master of one first, and once you dominate that, then move on to two. Thank
you for watching, if you enjoyed the video, share it with one friend, and if you
don’t want to miss our new videos every Monday, Wednesday and Friday, then make
sure you subscribe to the Minority Mindset YouTube channel, and hit that little
notification bell below, because if you don’t, then YouTube won’t let you know
when the new videos are released. And as always, KEEP HUSTLIN’ *

100 Comments

  1. Minority Mindset says:

    Thank you for watching! If you enjoyed this video, you should watch – 5 Things Your Bank DOESN'T Want You To Know: https://youtu.be/wro_TqBY1Ro

  2. Whitney Aliesha says:

    Jaspreet, you have to account for subtitle space. We can't see your board. Great video, thank you for informing everyone!

  3. KomradKyle says:

    Very good point to Focus on One thing then diversify. Is it wrong to dip your toes in Investing, in many ways first?

  4. Rodas Yonass says:

    “You should not live a lifestyle with what you think you’re worth on paper” 1000% agree, I think this is one reason people get into debt.

  5. Zachary Laid Finding Freedom says:

    Money doesn't judge you.

  6. Harry Davis says:

    If u can't buy it twice you can't afford it

  7. Jespreet Chauhan says:

    What a powerful video ! Everything is true Jaspreet. Thank you for informing us in this wonderful way. love it!

  8. Goran Stefanovski says:

    6 banks tumbs down this video.

  9. red eye says:

    good info jaspreet thank you

  10. Sherwin D'Souza says:

    You advocate the "if you can't buy five of them, then you can't buy it", but does that apply to homes or land?

  11. neochilds says:

    Dude thanks for always making these videos.

  12. Joshua Keefe says:

    That’s one thing I love about driving older cars because nobody knows how much money I have. It’s funny because when I see people with expensive cars I like how you must be broke because you’re making all those car payments unless you’re actually have a lot of money to pay for the car we cash but you probably didn’t

  13. Cryptocoin Kiwi says:

    I like the "Work hard to create a unique value proposition"

  14. Mastermind On the beat says:

    High risk high reward #bitcoin

  15. Tony Miller says:

    Great video very informative

  16. cindi trautmann says:

    Didn’t mean to hurt your feelings Benji. 😂😂😂

  17. Keerat Parmar says:

    Can you guys go over fraction stocks?

  18. Floop says:

    My savings account tho… 😅😅😅

  19. Floop says:

    This channel provides nothing but UNIQUE VALUE TO ACT ON!! CALCULATED RISKS WILL MANAGE OUTCOME! 20 year old trying to make it here 👋👋👋👋

  20. Mord Fustang says:

    So much good stuff in this vid 👌

  21. My Intention Is Born says:

    😘❤️❤️❤️🙏🏾

  22. miltonthabarber says:

    Jaspreet if I wanted to buy stock in any company where do I actually go to buy it ?? Do you have a video on this or exactly what do I do and go to to purchase a company’s stock ?? Thanks

  23. K H-C says:

    I really love when my money brings home friends!

  24. LuigiFan1305 says:

    What Stocks can I buy that will offer a 10% return?

    Great video as always 22ji!

  25. Geoff mcarthy says:

    I’m buying platinum right now

  26. Mark The Investor says:

    2020 is the year to make money work for you! 🙂

  27. Ah Umm says:

    I work hard but, I consistantly put plenty of that money to work! 💰😊💰

  28. QLCL Corporate says:

    No risk bank account where?

  29. just01161 says:

    The federal reserve printing federal reserve notes out of thin air at 0% interest is not success, it's criminal! They deserve to be put on fire line and be shot and debtors need thrown in a fucking prison!

  30. Brush of Knowledge says:

    Go to work benjy you're not aloud home unless you make friends -entrepreneur

  31. Conscious Crypto says:

    All great tips. My favorite is #10. It's stunning how many people don't realize this. So many "hustlers" who really are just dreamers who work far too hard for the returns they're getting. I always say you can do 10 things all well, but you can't start 10 things at the same time and do any well.

  32. Edward Champion says:

    Love this advice !

  33. steven yia says:

    the current 7 thumbs down are fake flexors

  34. prome57 says:

    Yesterday a man in my real estate mastermind group was talking about a 150 million dollar mistake in a Las vegas casino deal because 2 out of 5 people in the deal who werent the owners of the casino who'd be the one using the 150 wouldnt give the phone number to the man offering the money. They made the decision not to tell the head of the casino about this and wouldnt let him contact the man with the money because they thought they were the heads of the deal. The man who was planning on 5 other deals with this comany oppted out of all of them because of it. To give people perspective 150×6=900 million dollars to men who could turn this into billions. All because of an ego trip.

  35. J Rangel says:

    Jaspreet….. I just opened a Shopify account and when I heard you say that , I started bustin up !! Great video !!

  36. Alexa Diaz'Johnson says:

    I like this guy 😉😉

  37. Dominic Wilkerson says:

    I have a subaru crosstrek… I cannot buy it with cash… 🙁

  38. Sanjay Clarke says:

    Yo Jaspreet, where the summary guy at?

  39. Ken Belangel says:

    Money rule #1: money makes you more of what you already are

  40. NYC Bettas says:

    Jaspreet 2020

  41. Smarthome Tech says:

    Agree with your concept. Do you agree that a 6 mo emergency cannot be invested in the market? Usually access to emergency funds is more likely to be used during economic downturns.

  42. edi says:

    You keep saying: if you can´t afford 5, you can´t afford 1!
    However, most have the choice between a tiny flat for rent for half their income or buying it for 20 years salary. Thus, in principle, they can´t afford a single one, but they need to live somewhere… PS: I´m not talking about poverty as such, but rather an average income in some regions. The alternative would be a commute to work that is like 3h per day…
    What´s their best choice?
    PS: personally, I´m unlikely to fall into this category, but I´m currently unemployed and got debts, which makes me worried about the time I´ve left for making money, before family will eat it all up…

  43. Neo Yamasaki says:

    Hi Jaspreet, man bro your videos are on point and very entertaining. Can you answer a question for me? Even if the answer is general because I know you don't know all the details please please try to respond. Basically my dad owns his house where we are currently living (California). The house costed him $90,000 and paid it cash. Now that the market is back up the house can easily sell for $300,000. We want to move locations where houses are around $500,000. So taking the example you provided in your video, does that mean that if we were to sell our house for $300K we don't need to pay any taxes if we sell and buy a $500K house?

    That would be good news but what about property taxes? With a $90K house we pay around $3000 which if I divide by 12 = $250 / month for the government for life. Let's assume we can pay off the house $500K house somehow completely in full. I estimate new taxes to be $14K / year for a total of $1166 / month (same city, I just looked at my property taxes total and they're charging 2.76% a year. So despite getting a tax break for selling and buying a more expensive property I would need to pay the government almost $1200 for living in my own house despite having paid it off in full. Is this really how it works??

  44. Daniel Cerna says:

    Every time Jaspreet says, ”Keep hustling", I too say it at the same time. Daily reminder.

  45. HI-COMPRESSION says:

    Bhaji you are the best.I love your channel. Bahut kuch sikhya mai tuhade ton. Good job.

  46. Erick Guzman says:

    You can do it Jaspreet!!!! You are funny, entertaining, and educating so many people! Thank you.

  47. Bozeman says:

    Number 10 related to me smh

  48. Tourist says:

    Question for you Mr. Singh, do you invest into gold or silver bouillons? Since America is printing dollars faster than it is worth, how do you take this in? Love the channel and registered to your site as well.

  49. Penetekoso Peau says:

    Jaspreet, thanks for the improving my Finacial Literacy through most if not all of your YouTube content. I’m saving the ones I think my 3 sons should start to watch at the age 5 or when they start kindergarten. Would you happen to have any content specifically for parenting young kids. If not would you mind making one soon? Stay blessed and thanks again!!

  50. Depth brewed rollers. says:

    By far this has to be my favorite video you have created. Thanks.

  51. Derek Dudes says:

    The one thing I love in this word more than anything is not money. However, if not for money I would not have gotten that one thing. So never let anyone tell you money isn't very important.

  52. Giovanni Frondoni says:

    Thank you for your videos Jaspreet! I always find it useful and funny 😄

  53. Erika Kullberg: Lawyer's Finance Tips says:

    As always, great content! I love how you explained that millionaires become one by mastering one thing before moving on to the next!

  54. ladycurl2xcel says:

    Law #2 hurts my heart but I know it’s true. I’m an RN and I work soo hard mentally, emotionally and physically and people think nurses make so much money but the truth is, we don’t make nearly enough for how hard we work. I’m currently brainstorming ways to utilize my nursing license to increase my streams of income so that I can invest more and retire early. Great vid Jaspreet!

  55. D Woolf says:

    This may be law 11. "Hard to gain, easy to lose!"

  56. nriqueog says:

    His BEST video EVER!!! I'm writing this list down!

  57. William Grim says:

    Love these videos. You and a couple similar YouTubers make a ton of cents.

  58. wannabecarguy says:

    Make mistakes and try not to repeat history.

  59. wannabecarguy says:

    You can always swap a 2jz and have a super car destroyer.

  60. Arjuna Patel says:

    I’m listening👍🏼

  61. Money with Alex says:

    This video took waaay more time and work than it seems.
    Dozens of deep insights and life lessons – in less than 12min. Kudos, Jaspreet! 💪🔥

  62. Leo Godfrey says:

    But how good would it be to have a Nissan gtr
    1 day 1 day!

  63. RUPINDER SINGH Raina says:

    True Jaspreet

  64. The-X-Factor says:

    That last piece of advice was gold!!

  65. Aron Teklu says:

    9:55 I love the way you put it

  66. Winston Torchon says:

    Lol🤣🤣😂😂. An a hole… Real funny bro!!!

  67. Sarhra Russell says:

    Anyone else feeling his teal turban?

  68. Winston Torchon says:

    Jaspreet that was a great video!! Keep coming with the great content

  69. Tanvi Shetty says:

    I wish they taught this in schools !!!!!
    Textbooks lie !!!

  70. JV says:

    Hi Jaspreet, thank you so muchnfor your neber ending financial lessons. I was able to open an investment account and buy my first motorcycle in cash. Living like you're sure brings wonders.

  71. The 360 Degree Mastery says:

    Excellent video Jaspreet!

  72. Hans News says:

    Money is just paper – I can just print some off my laser printer

  73. Paul Buckle Buckle says:

    Good stuff , Good work , good advice well done J👌, hi from the UK.

  74. Jason Ramsey says:

    43 seconds in and your asking for me to click the thumbs up!!! I don't even know if it is worth it yet! Save that for the end.

  75. Just Awesome :: says:

    Awesome video👍

  76. Kyra Bun says:

    Thank you! I really needed this advice! And your video pops up. Almost did the diversify thing without mastering 1 first.

  77. OriginalDJPlatinum says:

    This is brilliant

  78. Ghost says:

    When everything comes together, no debt, savings and investments both retirement and stocks; when can you start enjoying your money?

  79. Big Head says:

    Fantastic content. 👍

  80. AJ S says:

    Lol “hurt your feelings benji”

  81. Marquist Price says:

    “Be the master of 1 thing” I needed to hear this 😌

  82. Harry Chu says:

    Real Estate investors and mogels violate nearly all of these money law. Routinely living on leverage based on perceived equity in leveraged properties.

  83. Aurora Arrow says:

    I love this man!

  84. myles adams says:

    Great video Jaspreet. I love your channel. I watch and share every video with my dad. Keep it up brother.

  85. Zach Scott says:

    I calculated 10% return with just a 1 time $10,000 deposit interest calculated monthly for 49 years (7×7) and it was only 1.315 million. That's an insane amount though, where's my $10,000 at lol.

  86. Mike K says:

    I wonder if Jaspreet drives a Nissan GTR today? 🤔

  87. Alex G says:

    I think the # 1Rule that would make most people wealthy would be
    *Not spending more than you earn. Im a culprit also but i know so many people that should be rich and are not because of the spending here and there every little thing ads up its crazy. so you think but i need to enjoy life before i get old? Then theres you need to save and invest for when you get old? I think we need to find the fine line inbetween and thats where we will be balanced in love money and health✌❤.

  88. SoundScientist1 says:

    @Minority Mindset. Hi Mr. Jaspreet: I discovered your channel probably close to two years ago. (I immediately saved the channel & subscribed). However, I candidly have routinely been getting bogged-down with lots of routine everyday annoyances & it doesn't always occur to me to pause & review your new content. Additionally for whatever reason… YouTube's algorithm hardly ever alerts me of your new content.

    At any rate… Getting right to the main point. You (as well as a few of my other independent YouTube, business, & financial news sources) have expressed that the U.S. will most likely see a huge economic downturn at some point.

    For a degreed person who is still struggling in the U.S. job market… Can you suggest some avenues or pathways to build-up some earnings that can then be placed into some real estate investment projects & other investment vehicles?

    (I've actually got some people in my immediate "circle" who have achieved the highest levels of attainable education in their fields; but getting them to share insight regarding business concepts & investments has been challenging. For example. I actually have an "adopted Indian big brother." His name is Dr. Singh. He holds an MBA, & PhD in Economics from Harvard. Yet, when I recently asked him what he thought was going to happen during the next economic downturn… He replied: "there is no downturn." I didn't fuss with him. But does he really expect me to beLIEve that the current Bull/expansion market will continue into perpetuity with the corresponding overvaluation of real properties and consumer goods?)

    So this is a large part of the reason why I've had to seek out alternate sources of information. I've GOT to make some changes & moves in 2020. My main field of work (biomedical research) has imploded (with many/most of the jobs having gone overseas during the past 15-20+ years). Most people in the USA don't even comprehend that most of their prescription drugs are now manufactured in China. (The ongoing "dumbing-down" of America is a different discussion for another day).

    Anyway, I could use your help Sir. I've got to start building a real estate portfolio (& implementing some other investment vehicles), but I've got to first acquire some start-up capital (ie. $10K-30K will get me rolling). Posted Thurs. 1/09/2020

  89. Sean Y says:

    Fantastic info and advice, thank you

  90. Show Up Lifestyle says:

    jaspreet "money is emotionless"
    Me "I had no idea"

  91. Luke Adams says:

    How can you claim that banks use our money, when they do not. They have a special rule called Fractional Reserve Lending…popularly known as Quantitative Easing.

    Additionally, Barclays and Discover give 1.7% APR for savings, no CD required.

  92. Monica J NYC says:

    you rock!!

  93. Sébastien Caron Boisvert says:

    Doubled today #$TRIL. !

  94. Grills Cheese says:

    Jaspreet, speaks the truth! The team at minority mindset has such passion it's infections! Don't stop guys!

  95. Just Frugal Me says:

    Great Video! This is powerful… money will make you more of what you already are.

  96. kidiz1224 says:

    What do u think about investing into a roth ira?

  97. Zsolt Papp says:

    If banks could only lend out depositors money, they would all shut down. Thats not the way the system works.

  98. Témitope Obinna says:

    Money reveal the real u

  99. ikeepsitreel says:

    Excellent video! One your best!

  100. Rupinder Sayal says:

    Very useful information, Many Thanks!!

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