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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 AKA The Minority Mindset
#MinorityMindset #JaspreetSingh
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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….(read more)
LEARN MORE ABOUT: 401k Plans
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Thank you for watching! If you enjoyed this video, you should watch – Joe Biden's NEW Tax Proposal: https://youtu.be/eGwzchRAIpo
How bout you eliminate the $20,500 limit so I can put as much cash as I want in it to retire earlier
If they’re going to get rid of social security, they better give me a refund on all the money I’ve put into it to this day
Cryptos are generally too volatile to be deemed a smart or safe retirement investment vehicle. Proceed with caution.
So are ETFs better than 401k??? I'm confused..
Great stuff. At bottom of recession consider doing a roth conversion for 401k. As economy fails fire sales become available. Cash savings become really important in a bad economy to make returns on reduced prices. Dont sell stock in a down market unless you need to reduce income tax burden. Its not the economy that creates personal wealth, its the quality of the choices made by the individual.
Hi is the link to the Vault golf a legitimate website to purchase gold ?!?
SSI is only in the hole because the fund keeps getting pilfered by lawmakers for pet projects.
Ok if the gov wants to start mandating financial responsibility which is what your talking about THEY NEED TO START WITH THEMSELVES don't act like they know aD&€? Thing about financial integrity
Dude stop saying the gov wants their fair share in taxes. There's nothing fair or shared when it comes to taxes. We will not have a free society until society accepts nothing is free
Pensions (and benefits such as health care) came about as a way to lure people away from their farms and into working for someone. It used to be when you got old enough that you couldn't work on the farm the younger generation would take care of you. If you had a farm to work and family to take it over you didn't need to go work for some company, you were self sufficient. Pensions were a promise to take care of you when you retire and can't work anymore. So yes, it makes absolute sense that a company would take care of you after you leave and are not producing anything as that's the deal that was made.
You are a Great Educator, A Great Man, and A Great Leader. Thank you for everything.
How about the government putting the billions of dollars they stole from social security back.
One of the biggest benefits of a pre tax 401k is reducing your taxable income this reducing your marginal tax rate and your overall potential tax liability
Theres not a step up cost basis in an inherited ira or 401k… only in a non qualified account
My agency offers a 401(a) instead of a 401(k). One advantage of the 401(a) is that the agency contributes 8% of your annual gross (before overtime) into your account regardless of whether or not you choose to contribute. It’s not a “match.” Because I was 42 when I started with the agency, and also a bit behind on retirement savings, I chose to contribute 12% of my entire gross on top of a 4% contribution to a 457 Roth. I’ll have a very small public pension as well as a standard IRA when I go to retire, but I’m still super nervous about what my retirement figure is going to look like. I’m not even depending on Social Security being around when I retire.
Invest and save on low wages and inflation….. Right.
The government cons. Insurance cons. High interest loan cons. So many cons strangling this country.
Can you buy crypto without fees?
On the catchup they have to pay going in an going out? Yeah… no thanks.
Crypto could destroy retirement savings. Maybe itll increase the crypto prices like ETFs do stocks
None of you really know what’s going on… such a shame
Maybe I should open up a 401k company like the student loan crisis you should have opened a college when that Bill passed
Sounds like the government is taking away the people's responsibility and forcing them into this tax trap.
You should’ve stayed in your country of origin and used all of this genius to help your people.
What do you offer to your employees since you don't offer a 401k?
Hey man. Sorry but I had to throw out one correction. There is no step-up in basis in a 401k because it’s all pre-tax money to begin with. Every dollar that comes out of your 401k (and trad. IRA) is always 100% income no matter what. A step up in basis does no preclude you from paying taxes out of a retirement account. That’s the point of them. The government says, “we will let you avoid taxes now, as long as we guarantee we collect taxes later, i.e. age 72”. It’s just counterintuitive.
Step up in basis only applies to non-qualified accounts like individual brokerage accounts or JTWROS accounts, but there is no requirement by the government to realize taxable gains at any point in your life in those types of accounts. Point being, those accounts can continue passing onto your heirs forever and always, getting step ups whenever the new account holder dies, and no taxes are realized (barring specific types of investments but let’s not go there).
The best thing should be to ELIMINATE the minimum age of taking money out….or should be EIGHTY
Three percent is NOTHING! They should save minimum 10%
This is the first time I see your videos. Love your content..going to binge watch lol. New sub
Minority Mindset Can you elaborate on why you don't like the 401K model? It seems like a great choice, free money. My job matches 6%, so if I contribute 6% that is 12% right off the bat.
More reasons to be self employed.
What about the pensions of the politicians? Their pensions aren't being cut. Maybe they should lower their salaries and pensions. There is a lot of ways the government spends and wasted the taxpayer's money that could be used as social security.
401ks and IRAs do NOT qualify for the step up rule. You are incorrect about your example of someone dying and their kids not having to pay taxes on the million dollar profit that comes from a retirement fund.
Retire early die early is a myth.