Subscribe to Market Briefs (my daily financial newsletter) for FREE & get my investing masterclass as a bonus:
My recommended tools*!
*Please note: Yes, these are our sponsors & advertisers. However, these are companies that I trust and use (or have used). The compensation doesn’t affect my recommendations or advice. That being said, you should always do your own research & never blindly listen to a random guy on YouTube.
———-
➤ Get A FREE Consultation With A Financial Advisor
1) 💰 Money Pickle – Best for $100,000 – $3M+ In assets:
———-
➤ Life Insurance
2) 🛡 Policygenius – Get a free life insurance quote:
———-
➤ Real Estate Investing Online
3) 🏠 Fundrise* – Invest in real estate passively!
*Jaspreet Singh is an equity owner in Fundrise and has invested in Fundrise. He receives a commission if you use his affiliate link.
———-
➤ My Favorite Credit Cards
4) 🪪: See my top credit card picks for this month:
———-
➤ Invest In Stocks Passively
5) 📈 M1 Finance – Buy stocks & ETFs on autopilot:
———-
➤ Business Accounting
6) 💸 CommonWealth – Does your business do over $250k/year? If yes, get a free consultation from my partner accounting firm:
———-
Buy Gold Passively
7) 👑 Vaulted – Buy physical gold on autopilot:
———-
Recommended:
Credit Scores Are A Scam To Keep You Poor
What Is The Minority Mindset?
“The Minority Mindset has nothing to do with the way you look. It’s the mindset of thinking differently than the majority of people” ~Jaspreet Singh
Follow me:
Instagram:
Website:
Want More 🥑🥑?
Minority Mindset Clips:
Minority Mindset En Español:
Video host: Jaspreet Singh
DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated – but there’s no additional cost to you.
DISCLAIMER CONT’D: I’m just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
source
31 Comments
Subscribe to Market Briefs (my daily financial newsletter) for FREE & get my investing masterclass as a bonus:
https://link.briefs.co/3Hmobaz
WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS!
There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
Ty for the video. So easy to understand
Roth IRA $200k invested turns into a million you only pay taxes on the original investment of 200k the $800k you made off the $200 is not taxed! Nowcompletely reverse that for a Traditional. You’ll be paying taxes on all of the 1 million dollars. Seems like a no brainer. Roth it is
It is awakening conversation. I have invested in 401k from Day-1 I was eligible. I am happy for doing that way. It was not in mind, and henceforth saved for future use.
A 401k is a good start to financial planning. I personally stopped contributing to my 401k back in 2020 because of the tax implications when it's time to withdraw in the future. I contribute to my Roths and they are doing well. My 401k has almost doubled since. Remember that everyone's situation is different so this option works for me considering I have 2 upcoming pensions in the mix also
Is there any possible way to avoid paying taxes when you withdraw money from 401k account?
I have 401K through my work I don’t recommend it at all. I stopped contributing and saved my money better then support these rich , crook CEO’s
Isn't it true the 401k doesn't loose any money if you loose your mone
Do you have any live lectures???🎉
Do you have any live lectures???🎉
More people need to understand this and how banks are so crooked 😮
Why does every finance video on YouTube have bot scammers in the comments?! It NEVER fails.
Thank you praji
I have zero 401k 😔
Go Roth in your 401k, invest in low cost mutual funds. Im in S&P 500 FXAIX at 20%
Yeah, IRA and individual stocks don't go down when stock matket crashes, sure
It was nice presentation and easy to understand. My question is that, can you talk about to avoid interest money collection on 401k when start taking out money pls after retirement.
After hearing this moron I had to unsubscribe this guy . What are stupidity level going on that to avoid investment management fees we now have to stop savings ! What on earth 🌎 this moron is living
No I want to watch the cardone video lol to see who he was talking with.
I had a vesting schedule on equity, but a 401k? I have never heard of a vesting schedule on a 401k, that would be a crappy employer. LOVE that advice on: NOT limiting investments to just a 401k. I see people make that mistake time and time again. Even having a taxable brokerage account in addition to a 401k account is a great way to get started. The beauty of a taxable account is: it’s taxed on fixed long term capital gains not ordinary income like a 401k AND it can be easily leveraged
You forgot one benefit – you can’t be sued for any portion of your employer sponsored retirement plan
Only real reason to have 401K is employer match. If they match up to 5%, you can invest that percentage of your income. So for 5%, you’re getting a 10% investment. It doesn’t make much sense to invest more than an employer match.
You're paying for a stockbrokers gambling habit good luck getting your money out of one
401K is worth it because of the compounding on the money you didn't pay in taxes from the pre-tax benefit and got to invest. Yes you pay taxes when you retire (unless you stuck those tax savings in a Roth) but it's a single time you pay tax, yet every year you contributed you avoided some tax because of the pre-tax benefit and can invest that avoided tax and let it compound. Compounding it from investing and paying taxes one time at withdrawal makes the 401K a worthy investment vehicle. Personally I have a Roth IRA and a 401K. And obviously the employer match is money you leave on the table if it's available to you. The idea isn't to pick one retirement account – it's to save enough to use all of them.
Ask your company if they have a “brokerage link” option. They may not publicize it. Brokerage link allows you to buy whatever you want in your 401k. EFTs, individual stocks, etc,
As I approach retirement, my main focus is to keep my 401(k) on track following a turbulent 2024. I’ve come across reports of investors achieving returns on investment (ROI) as high as $250,000 in this market downturn. Any suggestions for increasing my ROI before retirement would be greatly appreciated.
The smart thing to do is to use 41k to buy a house and defer the taxes or use the 41k to pay medical bills.
I have both I only have the 401k mainly because its company matched
The guy was confusing Roth IRA with 401(k). Roth is post tax and 401(k) is pre tax. Either way the govt is getting its taxes.
The ONLY way to get everything tax free (with a caveat though) is HSA which is tax free to put in, grow and withdraw for qualified health expenses. Some catch exists so read up on
Employer match negates fees and taxes right?😂
This is Bhupendra Thakkar and I love to talk about conversion of 401k to Roth IRA.