Are we falling for the biggest money traps of our generation? And what are the money habits that actually build millions? Raoul Pal, Jaspreet Singh, and Humphrey Yang reveal the truth about renting vs buying, escaping credit card debt, mastering passive income, and investing with $0!
This personal finance roundtable brings 3 leading finance experts to discuss building wealth and planning for your financial future. Jaspreet Singh is an entrepreneur and founder of Minority Mindset, Raoul Pal is a former hedge fund manager and CEO of Real Vision, and Humphrey Yang is a personal finance creator and former financial advisor at Merrill Lynch.
They discuss:
◼️Why saving money won’t make you rich, and what to do instead
◼️The single best skill to escape being broke in 2025
◼️ Why renting is smarter than buying (even if you can afford to buy)
◼️ The tiny money habit that quietly builds millions over time
◼️ Why most people under 45 won’t get a pension (and what to do instead)
◼️The truth about crypto, AI and why the financial system doesn’t want you prepared
00:00 Intro
00:02:10 How Do I Make More Money?
00:04:59 Pointless Jobs That Actually Made You the Most Money
00:06:39 How to Visualize Your Finances
00:07:30 Social Pressure Around Money
00:09:23 The Simple Money Tracking Hack
00:13:18 Best Form of Investing: Active or Passive?
00:18:20 More People Joining Crypto
00:20:54 Bitcoin Is Too Speculative
00:28:17 Stocks vs Crypto
00:33:47 How Would You Invest $1,000?
00:41:59 The S&P 500 vs the Nasdaq-100
00:44:00 Dollar Cost Averaging Explained
00:46:58 Removing Emotion from Financial Decisions
00:47:55 Should We Be Putting Everything into Crypto?
00:49:22 If Crypto Isn’t the Future, What Takes Its Place?
00:54:12 Ad Break
00:56:10 What to Do When You’re in Debt
00:59:29 Bankruptcy: When Should Someone Consider It?
01:02:00 Alternatives to Filing for Bankruptcy
01:03:41 The Myth of Passive Income
01:05:37 How Profitable Are Property Investments?
01:10:21 Should You Buy Rental Properties for Passive Income?
01:11:08 Why More People Are Renting in the U.S.
01:13:19 Is Property a Good Way to Build Wealth?
01:19:16 Is There Such a Thing as Good Debt?
01:20:16 Leveraging Your Current Assets
01:25:47 Pensions and 401(k) Retirement Plans
01:39:35 Ad Break
01:41:23 Framework for Making Money More Easily
01:47:39 Why Keeping Money in the Bank Makes You Poorer
01:51:45 What Do Rich People Know That Most Don’t?
01:54:27 How Relationships Impact Financial Success
01:59:30 Do Geographics Matter When Making Money?
02:02:16 Is the UK a Good Place to Build Wealth?
02:05:35 Closing Statements
Follow Jaspreet:
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You can download Raoul Pal’s 5-Year Roadmap for free here: http://bit.ly/3JQok7g
You can purchase ‘The Everything Code’, here: https://amzn.to/48cJ2bk
Follow Humphrey:
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Instagram: http://bit.ly/4gs6kMI
Website Humphreysguide.com
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What a bounch of losers
Poor people cannot save
What is the reason why the US supposed Israel in the first place and how far they've strayed.
Fantastic podcast! These are my favorites! Thank you!
Great conversation. Sadly it was mostly focused on when you have capital. And I know most of them got their capital in the old ages of cheap real estate or financial sectors. You can see with the 1k capital question that none of them really can give an answer to actually helps someone in poverty. Or even worse (which I sadly agree with), the money system is designed around draining middle class more and keep the rich more rich. Because well money makes money, while the legacy system wants to keep people in the rat race. A radical change and shift will happen, the current govermental system and financial system simply does not work for the wealth and health of most people as we all conclude now. The only ones holding the needed changes back are the few on the top with the power. And honestly if enough people oppose current power that shift will happen much faster then anyone can imagine. I am looking forward to that change.
1:22:00 1:34:25
More money more problems, and it is real! So I am saving myself by choosing the poison carefully 😊
What I took from this is the person with the most answers got the most push back. Something about minority mindset that resonates with me.
I agree with all of them and I also disagree. Here's a thought: I was a park ranger. I made a pittance for income. I was also a young widow with three kids, so NO financial help. I was NOT wealthy! Yet, I owned a 100 acre ranch and sold it to retire at age 56 and now own an estate (historic) home on 8 acres as well as a second home in which my son lives rent-free. No mortgages. My philosophy was to always make your assets pay for themselves. So, the ranch was a business and we raised and trained horses and working dogs. I had a formula for that, too (produce a product for almost zero, that you can sell for thousands. Ie it cost almost nothing to produce 6 pups, but put in the effort to train them and the cost for food and healthcare, then sell a dog for $3-5k. Same for horses.)Tax breaks and the ranch made way more than my full time job. The estate home was bought to be an event venue. Again, tax breaks and income. I was able to buy the ranch because before buying it, I bought LITERALLY dilapidated houses for dirt cheap, fixed them up, sold, moved and did it again. Each time, I invested in a more valuable property. I bought my first home at age 23 and people were surprised someone lived there – until I fixed it up. It was LOTS of work, especially for a female. But I was on a mission, having come from poverty and the inner city. Think outside the box. Be creative.
These guys are not even thinking about sweat equity. Buying, fixing up while living in it, then selling it for WAY more than I bought it is how, even though I lived in a TINY income, I was able to retire, debt free at age 56. You don't have to insure a paid for house. I completely disagree on their home buying as an investment philosophy. I would still be working with no end in sight had it not been for the profits I realized each time I turned over a house.