Jaspreet Singh: How Much Money To Invest Every Paycheck To Retire Wealthy
Written by
Yaël Bizouati-Kennedy
Edited by
Maria Concepcion
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Jaspreet Singh, CEO of Briefs Media and host of “The Minority Mindset Show,” recently posted a YouTube video explaining how much money to invest from every paycheck to retire wealthy.
Singh said that, “when we’re talking about building wealth and investing your money for retirement or this financial freedom or whatever you want to call it you got to understand two things.”
First, Singh argued that you need to understand how your money works, “that way you’re using the money the right way,” he said.
“And then second, you got to know how to invest this 15% and why you need to be investing this 15%,” he added.
According to Singh, investing is the “real secret” to building wealth for regular people.
“It is not building the next Amazon, it is not finding the next hot stock before it pops, it is not winning the lottery, it’s not having a job that pays you $1 million a year,” he said. “Yes these things can help but they are the exception to the rule.”
Singh added that while many Americans only contribute toward their 401(k) retirement plan, the average contribution is just 7% — a far cry from the minimum 15% you need to invest to enable you to retire wealthy.
In the video, Singh said that, for instance, someone who saves 15% of their salary from the age of 21 to the age of 65 would end up having $400,000 in savings.
Yet, if that $400,000 went into investments and that person got a below-average 4% return, this would have grown to around $900,000. Meanwhile, with an average return of 7% a year would grow to $1.9 million, he added.
Investing is a key piece of advice that Singh has reiterated for years — as he said that it’s crucial not only for building wealth but also for retirement.
“Just like how you can’t get rich by spending all your money, you also won’t become wealthy by saving all your money,” Singh said, according to Fortune.
And earlier this month, Singh said on X (formerly Twitter): “The days of saving your way to wealth are over. Grow your income, buy assets, dodge liabilities, and stack your cash flow.”
He added: “Once you start using your money to make more money, you won’t want to use it for anything else.”
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