[00:00:06] Viktoriia Miracle: Hello. Hello and welcome back to happy time happy money podcast and today we have Jashan Mundi is an up and coming money coach geared towards helping Canadians manage their personal finances so they can spend less time worrying about money and more time living their dream life. By the age of 23 years old, he has amassed and net worth of over a hundred thousand by earning, saving and investing in the stock market and real estate. His goal is to achieve financial freedom by 30 years old. Hi and welcome.

[00:00:47] Jashan Mundi: Thank you for having me on.

[00:00:49] Viktoriia Miracle: Thank you for coming on. I would love to hear everything about your story. What, how did you start it and how were you a, what inspired you to start building wealth so early?

[00:01:02] Jashan Mundi: Yeah, I originally started investing when I was 19 years old, started getting curious about it when I was 18. And, you know, ever since then, it's kind of sparked my interest. I've always wanted to have wealth and have that freedom. Just kind of have options in my life, but I knew that without money, I wouldn't be able to get there much, the port support, difficult to get there. So I realized early on that, you know, I had a great work ethic.

[00:01:26] I worked multiple part-time jobs and full-time jobs as well. And you know, my parents are immigrant parents to Canada, so they already knew how to save money. I kind of learnt that and picked it up from them and then started investing as well cause I knew that saving can only get you so far. There comes a point where you need to start investing as well to grow your money faster than you can do it by working a job.

[00:01:51] Viktoriia Miracle: Yeah, absolutely. So how, how did you start? Like where you started?

[00:01:57] Jashan Mundi: Well, originally I started, investing in a stock market. So I started investing when I was 19. I kind of dabbled with some penny stocks and whatnot. Didn't make much money in the beginning cause I didn't know what I was doing. And then it wasn't until I buckled down with like a strategy where it was, more long-term investing, geared towards ETFs and index funds and take a more long-term approach to my money.

[00:02:20] And, you know, I started dabbling in real estate as well, investing in a rental property. So I currently own a duplex and looking to buy more as well. So, you know, that kind of adds a bit more cash flow and equity build up in my portfolio as well. And I still will work full time. I still keep my nine to five.

[00:02:36] I still you work at that job and, and always looking to work my way up in my own career as well, while investing on site as well.

[00:02:44] Viktoriia Miracle: That is smart and that's, I think the best, the best way to live it. So what would you say, what do you see like most common mistakes that people make when they're not investing and starting investing?

[00:02:59] Jashan Mundi: I think not getting started as one of the biggest mistakes most people make. I think there's this, obviously this overwhelm around investing people are always scared of if I lose my money or, you know, that's why they keep their money in a savings account and they don't take the risk to invest. But the reality is keeping your money in a savings account is that actually you losing money because it's same place and, and not growing it. So for me, I look at it and say, well, investing is mandatory. You have to get started and you don't have to. Hit a home run off the beginning, but if you just kind of start contributing maybe $50 a month, a hundred dollars a month, and then you see that kind of stack up over time.

[00:03:39] Eventually you'll be hitting, you know, investing that $500 a month, a thousand dollars a month. Right. But it all starts with just small amounts and then work your way up from there.

[00:03:49] Viktoriia Miracle: That's awesome. Okay. And how you can start and like what to look and where to start?

[00:03:58] Jashan Mundi: Well, I think one of the best strategies for beginners at least is investing in things like index funds and ETFs.

[00:04:04] It kind of gets you started in the game, exposes you top stock market works and then working your way up from there. He started that, started investing in rental properties as well, which I think is a great tool because assuming you have a good income, you know, you can get a mortgage from the bank, you know, you could qualify.

[00:04:25] Okay. So you can kind of leverage your money a little more.

[00:04:28] Viktoriia Miracle: Awesome, And so what will you recommend to start? Okay. In ETFs and stuff, but what if person doesn't want to go into stock market? They feel like it's not for them and more want to have something more tangible, I guess like how they can start with real estate? Because lots of people think that you need a lot of money and I like there's so much to do on what to look at?

[00:04:58] Jashan Mundi: Well, I think the first thing is getting in touch with the, specialized mortgage broker because, I think a lot of people, the misconception is that you need 20% down as a down payment of the purchase price in order to buy a rental property.

[00:05:11] But you could use strategies like how Sakhi, where you can get into properties for less than 5% down in some cases. Right. So if you're buying, let's say a, I dunno, a hundred thousand dollar house, which is almost impossible sometimes, but let's just use it for around numbers. A hundred thousand dollars, you could get into that property for $5,000, right.

[00:05:32] As a down payment and then obviously you add on closing costs and whatnot. It may play may put you at $10,000, $15,000 maximum, right. Which I think is a very reasonable amount to get started in real estate. And then as time goes on, you build up equity. You have maybe a bit of cashflow and you build equity, and then you can really leverage that to buy more rental properties and over time you increase income and save money as well.

[00:05:57] Viktoriia Miracle: Nice. Thank you so much. And the last question that I ask everybody on this podcast is fill in the blank sentence for me. And it sounded like that's, if you really knew me, you will know that I am blank.

[00:06:13] Jashan Mundi: If you really knew me, you would know that I will be wealthy one day and want to help you do it as well.

[00:06:19] Viktoriia Miracle: Got it. Perfect. And I, where our audience can find you?

[00:06:27] Jashan Mundi: You can find me on Instagram. I created a lot of personal finance content and investing content. So my handle is jashanmundi. So nice and simple five minutes.

[00:06:38] Viktoriia Miracle: Awesome. Thank you so much for watching and listening. And if you are watching or listening, scroll down and you will find the link where you can find all the links that were mentioned above, and also don't forget to leave a review and share with your friends.

[00:06:54] If you find that helpful and thank you so much for coming over, Jashan and I will see you in the next episode.

[00:07:02] Jashan Mundi: Thanks so much.