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How Jaspreet Singh Made His First $100,000

6 min read

Making $100,000 a year is the ultimate financial goal for a lot of people. For Jaspreet Singh, entrepreneur, investor, and Chief Executive Money Nerd at Minority Mindset, making his first $100,000 was a journey that required a total mindset shift on money. Now, he has taken that mindset to build one of the fastest growing financial education and media companies online. Here’s how he did it and how you can too.

The Early Days

As is true for many entrepreneurs, Jaspreet learned at a young age that he was fascinated by the idea of starting his own business. There was just one problem, the concept of entrepreneurship wasn’t considered “normal” in his house. 

Jaspreet’s family immigrated from a state in India called Punjab. And like many first generation immigrants, Jaspreet was taught that the only path to financial success was by studying hard in school and becoming a doctor. It was not by being an entrepreneur.

As a child, though, Jaspreet would take on neighborhood jobs like mowing lawns and delivering newspapers. Those provided him his first taste of creating value. And as with most young kids earning money, financial education wasn’t part of the picture.

For Jaspreet, his early entrepreneurial ventures were a way to fund what he now calls “dumb spending habits”. He jokes that in high school, when he earned more money, he made made more upgrades to his Toyota Solara. 

Carrying his childhood fascination with entrepreneurship,, Jaspreet continued to try multiple entrepreneurial ventures in college. And these hustles were lucrative, sure. But the side-hustle that changed his mindset was when he started playing the Indian Dhol drum for weddings. An hour of work netted Jaspreet between $200-300, far more than his part-time job making $5.85 at Auntie Anne’s.

The fact that he could earn more in one hour working at a wedding than he could working hard at the pretzel shop for two weeks was eye opening. But what Jaspreet had stumbled into was the idea that people were willing to pay for his expertise – not just his labor.

A Minority Mindset Shift

It turns out wedding drummers were in low supply and high demand. And from this came a fundamental realization:

It’s not about how hard you work; it’s about the value you add.

Working the cash register at McDonald’s and playing in the NBA are both hard jobs. But there are billions of people that can work the cash register at McDonald’s while only a select few have the skills required to play basketball on the professional level. That’s why NBA players make millions, and the cashier makes minimum wage.

Couple this realization about value with reading the best-selling financial book “Rich Dad, Poor Dad,” and Jaspreet was shifting his mindset from trading time for money to trading money for investments. In fact, Jaspreet purchased his first real estate investment when he was just 19. This was when the United States was coming out of the 2008 financial meltdown and housing prices were near rock bottom. 

It’s safe to say that this mindset shift also meant Jaspreet got his “dumb spending habits” in control.

Fast forward a number of years and Jaspreet started a wide array of businesses. He didn’t have formal business education, instead he learned through trial and error. Some of his ventures failed, and some of them did very well. After seeing financial success, Jaspreet started publishing his financial lessons on Minority Mindset. 

The Minority Mindset has nothing to do with your ethnicity or race. It’s the mindset of thinking differently than the majority of people. 

For Jaspreet, Minority Mindset was a way for him to teach the money lessons he wishes he learned when he was growing up. Now, Minority Mindset has grown into a full financial education company. His YouTube Channel has more than 1 million subscribers and his videos have been viewed nearly 90 million times!

What Making $100,000 Really Means

Before we talk about how to earn money, it’s important to break down what making $100,000 actually looks like. When people think about making $100,000, most are thinking about gross income, like the salary at your job.

But the truth is, if you make a $100,000 a year salary, the IRS will take their share in taxes, leaving you with about $70,000 when all is said and done. So if you want to net $100,000 each year, you’d actually need a salary of $140,000 to make it happen.

Yikes, that feels overwhelming.

But it doesn’t need to be. The easiest way to achieve this type of goal is to break it down into bite-sized pieces. Below we break down how much you’d need to earn each day to make or keep $100,000 per year. We also divide by if you’re working every day of the year vs. 5 days a week and assuming 3 weeks off per year, which aligns closely with standard full-time employment in the US.

Make $100,000/year Keep $100,000/year
Making money 7 days a week, 365 days a year $274/day $383
Making money 5 days a week, 3 weeks off a year $410/day $571

Do You Want to Work Harder or Smarter?

For some, those numbers might seem super high or unreasonable. For Jaspreet, it took years of trial and error, starting and stopping different entrepreneurial ventures to steadily earn this kind of money. But the true game-changer, for Jaspreet and certainly for anyone else in the early stages of earning more, is financial education.

Every failure is a stepping stone which gets you closer to financial success. 

What financial education teaches you is that your income is not just your job. There are other things that you can do. And it’s not about how hard you work; it’s about your mindset and the limiting beliefs that are holding you back.

Money is abundant, and there are people out there making 100K a year, a month, and even a day. You just need to open yourself up to the possibility of making more money and understand how you can do it too. That difference, as mentioned above, is by figuring out how you add more value.

Adding Value Through Stock Market Investing

When you think about adding value and increasing your wealth, there are many ways to do it. You can grow in your current position, invest in certifications or new degrees to amp up earnings potential in your career, pick up another job or side hustle, or start a business. But the issue with each of these options is that they require time and active energy to get you to a new level of making money.

That’s why Jaspreet ultimately turned to investing in real estate and stocks. He knew that he needed to make his money do the work, therefore freeing him to focus on other entrepreneurial ventures.

How Stock Market Investing Works

When we talk about investing in the stock market, we focus on a long-term buy-and-hold passive strategy. While some day traders are looking for fast money and quick returns, that’s not our style. Instead, we believe in learning how to analyze a company and teaching investors how to perform fundamental analysis of stocks.

That said, there are several steps to actually making an investment in the stock market.

  1. Choose a brokerage and open an account. There are large corporate behemoths like Vanguard, Schwab, and Fidelity, and also smaller, newer investing options like Robinhood or SoFi. You can also choose a Robo-advisor style investment tool like Acorns that will choose a profile based on your risk tolerance.
  2. Research your initial investment. You can choose an individual company’s stocks or diversify instantly with exchange-traded funds (ETFs). Whichever option you lean towards, assess criteria like fees, trends, risk,  and long-term stability.
  3. Transfer funds and make a purchase. Link up your bank account to quickly add cash to your account that you can use to invest.
  4. Decide on an investment schedule. Recurring investments are a popular option as they enable you to see your money grow more quickly over time. Decide if you want to make regular investments weekly, monthly, or a lump sum annual investment.
  5. Wait it out. Once your investment is locked down, you’re ready to hurry up and wait. Depending on your long-term goals, you may leave your investments sitting for years or decades before you think about cashing out.
  6. Get educated. The best way to lower your risk is by learning how to invest. Minority Mindset has a free eBook you can read on how to invest in the stock market. 

The Perks of Investing in the Stock Market

Stock market investing puts your money to work 24/7/365. But you’ll need to be sure you have realistic expectations on returns and aren’t falling for risky investments and get-rich-quick schemes.

A good return on a passive investment is around 7% annually. That means to get 100K per year off your investment, you’d need an initial investment of 1.4M. 

In an era where some meme stocks grow by 300% in a week, a 7% annual return might not seem like much. But true sustainable wealth is not what you can make in a year. It’s the wealth that you can make year after year after year. 

Plus, any investments you hold over a year will have a lower tax burden than short-term plays. You’ll also want to make your money work harder by learning about other investment options and making smart long-term investing decisions.

The Bottom Line

Making $100,000 might seem daunting, but it’s possible for anyone willing to shift their mindset and put in the work to educate themselves on how to do it. It took Jaspreet years of learning and screwing up and pivoting before he was consistently making over $100,000 a year from his own businesses. 

The biggest switch came when he learned he could make his money work for him through stocks & real estate.

And the best part about his story? Anyone can do the same with the right financial education and mindset.

So give yourself some grace as you learn and grow in your journey. Be sure to educate yourself and follow those who have become successful in the ways you want to be successful. Using these models and coaches will help you reach levels you may never have dreamed of getting to before.

Editorial Desk Editorial team Account! Bringing you entrepreneurial stories. Flourishive views the world through the eyes of entrepreneurship—ambition, ​empathy, the ​grind. Be inspired by articles curated by Flourishive Contributors.