5 Ways To Build Wealth Amid Economic Uncertainty, According to Jaspreet Singh
Written by
John Schmoll
Edited by
Zuri Anderson
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Building wealth is challenging for many people. It’s made worse during economic uncertainty, such as inflation, and can lead to fear. This fear can hold many back from pursuing strategies to positively grow their net worth.
In a recent YouTube video, personal finance expert Jaspreet Singh covered the topic and provided five ways to build wealth even during economic uncertainty.
Have a Money System
Growing wealth requires money to take advantage of opportunities. In a time where over 25% of Americans don’t have $1,000 saved, this can be a challenge.
“You need money to actually take advantage of this investment opportunity,” said Singh.
The solution is a simple money optimization system. Singh suggested a 75-15-10 system where a maximum of 75% of every $1 you earn goes to spending, 15% goes to investing and 10% goes to savings. For example, if you earn $1,000, a maximum of $750 goes to spending, a minimum of $150 goes to investing, and a minimum of $100 goes to saving.
“Yes, it’s going to be difficult, but you can either make the sacrifice now or deal with an even more painful sacrifice in the future,” Singh said.
Automation is the best way to handle this recommended system as it simplifies things, and living below your means is essential.
Build an Investment System
Wealth takes time to create, and there often isn’t a silver bullet to amassing riches. Worse yet, with minimal due diligence, you risk substantial loss.
“The mistake so many people make is they say, ‘what stock should I buy?'” said Singh.
Instead, he suggested having a long-term view of building wealth.
“Holding your investments for at least a year, ideally many years, and even more ideally many decades,” added Singh. “You have to find what’s right for you, because you never want to blindly follow a random guy on YouTube.”
Build a Passive Investing System
Managing investments takes time, which you may not have. Passive investing can remedy this problem. Using the money system Singh recommends, you can create a passive investing system. Most Americans can even automate this with each paycheck.
This allows you to invest for the long-term, and many brokerages allow investors to automate their investing. This begs the question of what to invest in.
“If you want to just be a passive investor, one of the simplest things you can do is just invest in the American economy,” said Singh. Examples include S&P 500 index funds or the Total Stock Market (VTI) fund.
Create an Active Investing System
Active investing is a legitimate way to build wealth, but it takes time.
“Doing this one is a little more difficult because now you have to put in real work to find a unique opportunity for you,” suggested Singh.
This isn’t for everyone and takes a keen eye to see.
“You want to invest where the money is going, not where the money has been,” said Singh. “When you see all these changes in the economy from tariffs to DOGE to AI, what you want to understand is how these things create an economic opportunity, more specifically how does it create a market shift?”
In short, look at the outflow effects of what’s occurring now.
Dismiss Emotion
Uncertainty makes many people uneasy. Moreover, there’s always risk in investing. It’s key to take a Warren Buffett-like approach and not be emotional in matters of business.
If you allow emotion to lead decision-making it can derail wealth creation.
“The way you win is you have to be able to separate out the emotion from the financials,” concurred Singh.
The news is often full of stories that stoke the feelings of uncertainty. Following a simple, straightforward plan is the best way to keep an eye towards wealth creation regardless of what’s happening in the world.
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