March 15, 2025

10 Laws To Live A Wealthy Life

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attracting wealth

Money isn’t just about working hard—it’s about working smart. Jaspreet Singh breaks down 10 wealth laws that will help you avoid financial struggles, grow your wealth, and make better financial decisions.

If you’ve ever wondered why some people seem to thrive financially while others struggle, it often comes down to these fundamental wealth-building principles.


1. Shift Your Money Mindset

Before you can build wealth, you need to think like the wealthy. Jaspreet emphasizes four key mindset shifts:

Believe that wealth is possible – Anyone can build wealth with the right habits.
View money as a tool – It’s not about hoarding cash, but using it to grow your wealth.
Understand that money is abundant – There is more than enough opportunity for financial success.
Accept the responsibility to succeed – You must take ownership of your financial future.

Wealth isn’t about spending on Gucci bags or luxury cars—it’s about investing in income-generating assets that set you up for the future.


2. Cash Is King, but Cash Flow Is Queen

Jaspreet stresses that while having cash is important, it’s cash flow that truly builds wealth. Instead of just saving money, invest in assets that generate consistent cash flow, like:

  • Real estate rentals
  • Dividend-producing stocks
  • Business investments

He shares his personal experience of investing for cash flow since 2011, proving how long-term strategies generate lasting wealth.


3. Study Trends, Not Emotions

One of the biggest mistakes investors make is chasing hype. Whether it’s meme stocks, crypto, or overpriced assets, emotional investing often leads to losses.

Instead, study long-term trends:
Where is money flowing?
What industries are growing?
What businesses are thriving?

To help investors make informed decisions, Jaspreet created Market Briefs, a free financial newsletter that delivers unbiased financial news.


4. Debt Is Spending Future Income

Jaspreet warns against using debt to maintain a lifestyle or buy luxury items.

Credit cards and 0% APR offers sound great, but they trap people in high-interest payments.
Car loans for brand-new vehicles drain your income for years.

Instead, save up and buy what you can afford—this way, your money works for you, not against you.


5. Grow the Pot Instead of Squeezing Pennies

Yes, saving money is important. But focusing only on cutting expenses isn’t enough—you need to increase your income.

Instead of just clipping coupons, ask yourself:

🔹 How can I make more money?
🔹 Can I take on a side hustle or start a business?
🔹 What investments can help me grow my wealth?

Example: If a real estate agent sells your property for a higher price when given an incentive, you earn more instead of just saving a few dollars.


6. Value Over Price

Jaspreet learned a tough lesson when he hired a cheap accountant who cost him more in mistakes than he saved.

Sometimes, going cheap is the most expensive decision. Whether it’s legal services, financial advice, or home repairs, paying for quality often saves more money in the long run.


7. Use the 75/15/10 Plan

To build wealth efficiently, Jaspreet follows this simple rule:

75% of income for expenses (rent, food, daily life)
15% invested (stocks, real estate, business)
10% saved (emergency fund, future goals)

The key? Live within your means while steadily growing your investments.


8. Time Is Your Best Investment Ally

One of the most powerful wealth-building tools is time. The earlier you start, the more your money compounds.

Example:

  • Investing $500/month for 25 years = $750,000
  • Adding just 5 more years = $1.25 million
  • Warren Buffett didn’t become a billionaire until his 60s, proving the power of long-term investing.

9. Don’t Let Salespeople Make Your Financial Decisions

Many financial professionals—insurance agents, mortgage lenders, and car dealers—are salespeople first.

Their goal: Sell you more products.
Your goal: Make smart financial choices based on knowledge.

Educate yourself on:
Investments (stocks, real estate, ETFs)
Loan terms (mortgages, credit, interest rates)
Retirement planning (401(k)s, Roth IRAs)

The more you know, the less likely you’ll fall for bad financial advice.


10. Wealth Alone Won’t Solve Everything

Yes, money reduces financial stress, but it won’t fix everything.

Jaspreet emphasizes that wealth must be balanced with:
Physical health – Exercise and nutrition matter.
Mental well-being – Stress and burnout can impact success.
Spiritual growth – Finding purpose beyond money.

Financial success is just one part of a fulfilling life—don’t neglect the other aspects of well-being.


Final Thoughts: Wealth Is Built Over Time

Building wealth isn’t about luck—it’s about consistent habits, smart investments, and long-term thinking.

Shift your mindset and believe wealth is possible.
Invest in cash flow, not just cash.
Avoid debt and financial traps.
Focus on long-term growth over quick wins.

By following these 10 wealth laws, anyone—no matter where they start—can build a strong financial future.

Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but he is not providing you with legal advice in this article. This article, 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.

Author

  • Jaspreet “The Minority Mindset” Singh is a serial entrepreneur and licensed attorney on a mission to spread financial education. After graduating college, Jaspreet pursued law school where he continued his entrepreneurial and financial ventures. While in college, he started investing in real estate. But he quickly realized that if he wanted to continue investing in real estate, he’d need access to more capital. So, Jaspreet jumped back into entrepreneurship. After a couple years of research, Jaspreet invented a water-resistant athletic sock. The sock company was profitable while Minority Mindset was not. He decided to follow his passion and pursued Minority Mindset full time after graduating law school. Now the Minority Mindset brand has grown into a number of companies including Briefs Media – a media company and Market Insiders – an investing education app. His brand has helped countless people get out of debt, start investing, and create a plan towards building wealth.

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