Shadowing Practice: Why Anyone Under 45 Needs To Rethink Retirement - Learn English Speaking with Video

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An asset is something that puts money in your pocket.

A liability is something that takes money out of your pocket.

Wealthy people want to own assets.

I was buying a whole lot of liabilities

because I was working in this party promotion business and I wanted to look the part.

So I would make a little bit of money, buy a nice watch, make a little bit more money, put some new rims on my car,

put a new sound system in my car, put a new subwoofer in my car.

I mean, I was blowing money on all these dumb things to look like I was rich.

when in reality, I was just making a lot of other people rich.

And then I learned about this thing called investing, which really started to upset me because I thought I was doing everything right.

And I'm reading these books that are talking about how every wealthy person invests in real estate.

I have no idea what that means.

Nobody in my family is a real estate investor.

I had never heard of this concept of real estate investing before.

I don't know what it is, but if wealthy people are real estate investors and I want to become wealthy,

maybe I should invest in real estate.

So when I was 19, I'm now studying to get into medical school because I still think that I'm going to become a doctor.

And I was bored out of my mind because I would spend all day, 10 to 12 hours a day in the library studying.

and this was around 2011.

And the reason why I say the year is because if you remember, 2008 was the great financial crisis.

That was when we had the real estate collapse in America.

So real estate prices were decimated and they didn't hit rock bottom until 2012.

That's why I'm saying this.

So 2011, I'm studying to take the medical college admission test, the MCAT.

and I'm reading these books talking about how wealthy people invest in real estate.

And now I'm making a little bit of money from this party business

and have a little bit of cash in the bank.

So during my breaks, when I'm studying for the test, I started looking on the internet websites of finance.

And they all talk about how real estate prices have hit rock bottom, how real estate is being decimated in America.

And so I was like, well, maybe I start looking to buy real estate and so on august 22nd i took the medical college admission test

and then on august 23rd i purchased my first real estate investment property

it was a small condo that i purchased out of foreclosure a few years prior it had sold

for a little bit over 150 000 and then like many properties it went through foreclosure the banks couldn't sell it.

And it was listed on sale for $8 ,400.

That was the total price of the condo.

So I came in with an offer of $4 ,000 because I don't know how this real estate investing stuff works.

And we would bank it forth with the bank.

The bank said, we'll sell it to you for $7 ,000.

I tried to negotiate them even lower.

And then the bank said that they had another offer on the table.

So now it's a bidding war and I had to pay, offer my highest invest price.

So I said, I'm willing to offer $8 ,000 to buy the condo, no more.

And they accepted my bid.

So I purchased this condo for $8 ,000.

I put in a few thousand dollars worth of work.

And then I rented it out for $600 a month.

And now I start to question things.

Why did nobody tell me about this? this condo is putting

money into my pocket without me having to do something because I own this asset.

We're all taught to trade our time for dollars.

We're all taught to work, to get paid, because that's what we're taught to do.

But wealthy people are not working for a bigger salary.

They're working for more assets because that can continue to pay you even when you're not working.

And that's that shift when I saw that, that really sparked a fire under me and really made me angry.

And I don't know why I got so angry, but I got angry because I felt like I was checking all the boxes.

I was doing good in school.

I bust my butt in school.

I was going to do all the right things, become a doctor and do everything that I was told.

But what I didn't realize is those boxes weren't my boxes.

Who created these boxes?

And why is there this whole world of financial education that we're never taught?

Because if this is how wealthy people build and grow their wealth, why is everybody else not taught this?

So I want to make a distinction here.

Are you saying that in order to build wealth, people should buy a house?

No. If you want to build wealth, you have to buy assets.

When people say buy a house, What does that mean to most people's eyes?

It means bye.

my home yeah i want to buy this nice place for me to live

which is what most people do

when they get a bit of money they take their salary from work

and then they go and buy a house to live in

and then they pay into the mortgage which means

that they are now building an asset right they're building what many people call generational wealth

which is one of the biggest lies when it comes to money.

The reason why is because your house is actually a money pit.

The way you build wealth in the stock market is not by chasing hot stocks.

It's through what I call ABB, Always Be Buying.

And I just wrote a brand new book called ABB, Always Be Buying, How You Can Build Wealth in Any Market,

where I break down the exact strategy of how you can build wealth in the stock market

and turn your extra money into income or more wealth.

That way you cannot use the stock market to build wealth.

And because you're watching my video, I'm going to give you a digital copy of my book completely free.

I have that link for you if you want to download it down in the description below.

And when you sign up for the book, you're also going to get access to Market Briefs, which is my newsletter for investors completely free,

where my team is breaking down what's happening in things like the economy, housing, stocks, crypto, and global markets.

It's read by hundreds of thousands of investors every single morning.

So if you want to get my ebook and Marketplace all for free,

all you have to do is sign up and I have that link for you down in the description below.

And that's why I want you to think of your house as a liability.

But I want you to hear me clearly.

I'm not saying you shouldn't buy a house.

I'm not saying it's bad to buy a house.

You have to treat your house like a liability.

This suit that I'm wearing is a liability.

This watch is a liability.

My shoes are liabilities.

Should I not buy them?

No. I got to make sure I can afford them.

So when people think about buying a house, what do they think of?

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They think, I'm going to build generational wealth.

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I'm going to build wealth.

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I'm going to pay it off.

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And I'm going to be able to have more freedom in my life because I can own this house.

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Let's go with the best case scenario.

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You buy a home for, let's call it $300 ,000.

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You pay it off.

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And throughout your lifetime, this $300 ,000 home grows in value to a million dollars.

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And now you're going to say, Jaspreet, I showed you this is an asset.

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My house tripled in value, more than tripled in value.

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And now I'm going to pass it down to my kids.

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So now, yeah, your kid's got a million dollar house, but unless they have the income to support paying for a million dollar house,

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they might have to find some more cash.

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Now what do they do?

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Because you can't just pull cash out of this house, right?

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I mean, it's not an ATM, unless you go to the bank.

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The bank will oh, you have a million dollar house.

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How about we loan you $800 ,000?

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But that's not an ATM because you have to pay that money back plus interest.

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And now unless your kids have the income to pay for the property tax, to pay for the insurance, to pay for the upgrades,

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to pay for the maintenance and the mortgage, they can't afford that house.

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So maybe now they have to sell.

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Okay, now you sell it.

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You got a million dollars.

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Great.

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We're not even going to talk about taxes right now, but you got a million dollars.

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You're rich.

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But if they don't have any financial education and you have a million dollars, what's going to happen?

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Well, let's think about this.

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If you had a million dollars, what would you do with it?

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If I went down the street and I asked the average person, if I wrote you a check for a million dollars today,

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what would you do?

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What are people going to say?

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I'm going to go to the Bahamas.

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I'm going to buy myself a nice house.

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I'm going to buy myself a nice car, buy myself some nice clothes, go to the Gucci store,

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go to the Louis Vuitton store and buy myself the extra guac at Chipotle.

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That's what the average person will do.

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Now, maybe you're a little bit more financially smart.

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You say, I'm just going to live off of $50 ,000 a year.

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But after 20 years, you have nothing left.

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Not to mention the fact that 10 years from now,

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that $50 ,000 a year lifestyle is going to buy you half of what it can today.

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So now let's go back to that situation.

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You thought you built generational wealth.

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You did a good thing about paying off the mortgage because you don't have to pay the mortgage payment.

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But is that really the type of generational wealth that you want?

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And now to fully hammer this home, I'm not saying it's bad to own a house.

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It's actually very great.

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It's an amazing thing to own a house free and clear because now you can rest assured, you don't have to worry about the mortgage payments.

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If you have the financial education, that's great.

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But let's talk about now the real way to do this and build true wealth.

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When I buy my real estate investment properties and my property values go up, the rental values also go up.

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The rent is what pays for the maintenance.

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The rent is what pays for the upgrades.

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The rent is what's paying for the property taxes and the insurance.

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The rent is putting money in my pocket.

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And this is cashflow that I can use.

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I can use this cashflow to buy a vacation.

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I can use this cashflow to buy food.

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I can use this cashflow to pay for my lifestyle.

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But your house.

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It doesn't do that.

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You have to pay to live in your house.

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But people think, you know, they're getting their mortgage payments, they're spending whatever they are, you know, spending on their mortgage payments.

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They think they're, well, we're kind of told that that mortgage payment is an investment into an asset.

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Your mortgage payment is a payment to your bank.

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Banks are not stupid.

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In fact, they're very smart.

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Banks do something called front -loading your mortgage.

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What that means is if you go out and get a 30 -year mortgage, which is what many people do in America,

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and you pay $3 ,000 a month on your mortgage, you're not paying $1 ,500 to your interest,

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your bank, and $1 ,500 to your principal, your equity.

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The way it works is banks front load your mortgage, which means for the first almost 15 years,

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it's about 14 years and eight months or so, But for almost 15 years of your mortgage,

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the first 15 years, the majority of your mortgage payment is going directly into your banker's pocket in the form of interest.

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Which means if you're paying $3 ,000 a month on your mortgage, for the first part of your mortgage,

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maybe $100 is going out of the $3 ,000 into your equity.

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The other $2 ,900 is going right into your banker's pocket with interest.

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And now, yeah, after 15 years, now half of your mortgage payment is going to your equity and half is going to interest.

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But if you refinance before that 15 year mark, that starts over.

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And so this is where banks understand the game.

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Again, I'm not against buying a house, but you got to understand the game of money.

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And most people don't understand that.

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And so the mistake that people make is they buy a house they can't afford.

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And now they're paying all this money into their mortgage, thinking that I'm building wealth.

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They no longer have money to save.

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They no longer have money to invest into other real assets.

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And their money is just going to pay down their mortgage, thinking that this is going to build my wealth.

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But you've been sold a lie.

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This term opportunity cost.

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Most people don't know what this term opportunity cost means, but it appears to be very pertinent to what you're saying especially

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when you just said this is money that you can't then invest in assets.

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Can you explain what opportunity cost is and how it's impacted if you buy a house?

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Sure.

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If you have, let's make the numbers very simple.

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You want to buy a $100 ,000 home and let's say the banks require a 20 % down payment, $20 ,000.

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You could do a few things.

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Number one, you can take that $20 ,000 and go out and buy this house.

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And now that's how that money has been used.

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But if you use that money to buy the house, you lose the opportunity to take that $20 ,000 and say,

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use it to buy a rental property.

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You lose the opportunity to use that $20 ,000 to invest in the stock market.

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You lose the opportunity to take that $20 ,000 and maybe build a business.

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Now the question is, what is going to give you the best and most growth?

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Now, hopefully this house that you buy will go up in value.

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It's not guaranteed.

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We know the houses don't always go up in value, no matter what your banker says, no matter what your real estate agent says,

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because we saw what happened after the 2008 crash where real estate prices were slashed in half.

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It was as much as 93 % real estate values dropping in the state of Michigan, where I am.

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So we know real estate prices don't always go up.

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Stock prices don't always go up.

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Businesses don't always work.

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everything has a risk but now the question is

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which risk do you want to take and

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which risk do you want to take first are you in a situation now where you're ready to go out

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and buy a house or do you want to build your wealth first a little bit more

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and that's the question

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that i want people to start thinking is am i ready to buy a house

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and then people say well if i go out

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and invest my money the problem is housing prices keep going up i'm chasing this housing market it

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It keeps getting more and more and more expensive.

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And you're 100 % right.

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It's a risk.

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But there's also a risk the housing prices could fall.

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I think one of the biases that makes people want to buy a house is that they're currently renting,

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and they see that as just giving money away.

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So they think, listen, I could spend this money on a mortgage, and I'll own this thing one day.

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Or I could spend this same $2 ,000, whatever it is, on rent, and I'm never going to own this thing.

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Well, I'm here in Los Angeles right now.

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I had to stay in a hotel.

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That hotel payment is paying somebody's mortgage.

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It's paying somebody's college tuition.

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It's paying for somebody's stuff.

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When I go to a restaurant and I eat out, I'm paying for somebody's mortgage.

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I'm paying for somebody's college tuition.

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I'm paying for somebody's bills.

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Because when you go out and you rent, that's what everybody says.

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I am making my landlord rich.

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Well, when you eat at a restaurant, you're making that restaurant owner rich.

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When you go to a hotel, making the hotel owner rich.

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When I go and buy a mug, I'm making the mug owner rich.

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And the reality is, yeah, it's good for you to own a house.

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But are you ready to own a house?

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Can you afford to own a house?

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And what do you want to own first?

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I rent where I live right now.

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I am making my landlord rich today.

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I also rent for my offices.

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I am making my office landlord very rich because my office rent is very expensive.

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Do you feel bad for me?

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I hope not.

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And this is where we have to get over these money myths

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that many people keep selling you that you can't build wealth if you rent where you live.

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You can't build wealth if you don't get a good degree.

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That's not the way that the system works.

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See, there's the traditional rules and then there's the real financial education money rules.

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And again, I'm not saying it's bad to own a house, but it's bad to own a house you can't afford.

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How do you know if you can afford one?

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Well, there's three parts to afford in a house.

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You have to afford the down payment, you have to afford the monthly payment, and you have to afford the moving costs.

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I'm going to go start from the simplest one, which is the moving costs, because many people don't factor this in.

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When you buy a house, you got to move in.

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And I'm not talking about the closing costs.

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You might have to hire movers, which are expensive.

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You might have to upgrade your furniture, which is expensive.

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You might have to upgrade the house, which is expensive.

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Factor that in.

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Then I want to talk about your down payment.

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People don't like when I say this, but I don't say what I say to make friends.

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I say what I say to help people be better with money.

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One of the things that I've learned in life is

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that oftentimes the things you don't pay attention to end up mattering the most.

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And that's why I want to talk to you about life insurance with our sponsor,

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the last thing you want is now your spouse

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and your family trying to struggle to survive financially

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and that's where term life insurance can come into play

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now i'm talking about term life insurance here not whole life

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insurance the whole idea with term life insurance is it's life

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insurance for a period of time 10 years 20 years 30 years

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that way you can work to build your assets it is a lot cheaper than whole life insurance

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because the whole idea is you're not here trying to get rich off your life insurance

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it's just there as a bridge until you can build your assets.

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This is one of those things where the earlier you start, the cheaper it is.

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Because if you're a healthy 30 -year -old guy,

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you could potentially get a half a million dollar term life insurance policy for less than a dollar a day.

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So if you have any questions, you wanna learn more about term life insurance,

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or you wanna see how much a term life insurance policy would actually cost you,

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I'll put a link to Policy Geniuses' form down in the description.

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It only takes a few minutes to complete, and it'll give you an actual quote on how much term life insurance will actually cost you,

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and I have that link for you down in the description.

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If you want to afford the house, you have to have at least a 20 % down payment.

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That way you actually have some equity, some skin in the game, that way you can actually afford the house.

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The third part is you have to afford the monthly payments.

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Now, every bank is going to have a different rule for you.

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Banks have like the 28 % rule and these other rules.

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I have...

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Sorry, just on that last point, why do people not like it when you say that?

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Because it's very hard to pay a 20 % down payment.

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Housing is expensive.

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You want to buy a $500 ,000 house?

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You have to have $100 ,000 as a minimum for your down payment.

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And that's extra cash.

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Great.

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Now, if we talk about the monthly costs, the simple way that I like to follow it is you have to have a system for yourself.

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You have to know how much money you are allowed to spend, how much money you need to be investing,

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and how much money you have to be saving every single month.

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Then just factor it in.

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So the way I like to look at it, a simple rule of thumb is something like a 75 -15 -10 plan,

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which says for every dollar that you earn from here on out, 75 cents is the maximum that you can spend.

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15 cents is the minimum that you invest.

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10 cents is the minimum that you save.

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Now let's do the math.

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If you know that you make, let's call it $100 ,000 a year,

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that means the max you can spend out of the $100 ,000 is $75 ,000.

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So if out of that $75 ,000, you can afford your mortgage costs, you can afford your food, you can afford your vacations and lifestyle,

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then sure you can afford it.

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But if you can't afford that, then you can't afford that mortgage.

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And the reason why I like to go by this rule is because some people are going to say, I can live in a small house.

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I just want an expensive car and some nice vacations.

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Other people are going to say, I want a beautiful home.

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I don't care about the car and vacations.

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So now you can factor it all in there.

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How much can you afford out of that 75 % of what you make?

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Do you think people even know how much money they spend?

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No.

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I was thinking, I wonder how many people listening right now know over the last six months the exact figure

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that they spend every single month.

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Most people statistically are living paycheck to paycheck.

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So they're basically spending everything? Or more.

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Okay.

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78 % of Americans are living paycheck to paycheck, which means I make some money and I spend all of it or more.

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There's a joke that I like to make, which is in the traditional Indian culture, people make a dollar to spend 20 cents.

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In the traditional American culture, people make a dollar to spend $2 through the help of lines of credit, credit cards, and other forms of debt.

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And the reason why, I'm going to take it a step back.

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I don't think you wanted me to go this way.

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I'm going to go anywhere.

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Anyway, we live in what's called a credit -based economy, which means if you make $50 ,000 a year,

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you don't live off of $50 ,000 a year.

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At least most Americans don't.

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We live in what's called a credit -based economy, which means you have the ability to spend the $50 ,000 you earned plus debt.

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because as you make more money, as you have a good job, you become more credit worthy.

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And so as you show the bank, hey, I made $50 ,000, they'll give you credit cards.

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They'll give you lines of credit.

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They'll give you whatever types of debt that they can.

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That way now you can go out and spend $60 ,000, $70 ,000, $80 ,000 because that's what grows the economy.

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The more money you spend, the richer somebody else gets.

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And so now when you live in this credit -based economy with no financial education, people spend, spend, spend, the economy grows,

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grows, grows, and most people have no idea what hit them.

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Do you know what's really interesting is two days ago, I was having a conversation with one of my friends.

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It was actually, I did a podcast about finance recently, and in there I mentioned some of my friends, and then they messaged me on WhatsApp,

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and we were having a chat in our group chat.

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And I, for the first time ever, one of them asked me to guess.

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We're very close friends.

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We talk about money, we talk about how much money we have, etc. They said, guess who has the most money in the group.

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So I went through and I did, I think this is this person's net worth of my five best friends.

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And I think this is how much cash they have.

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Now, one of my friends who is very, what's the word?

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I guess frugal.

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Lives a very, very simple life.

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As I was going through, I go, do you know what? this friend is this like high flying guy lives in this amazing apartment

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this person has all these wonderful things this person's been successful in business this person's successful in crypto

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but you know what I bet my mate

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and I won't say his name I bet he's richer than everyone else in

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that chat um all of my other friends in the chat

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and so I did my little prediction

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and I said I bet you've got x figure and he replied

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and said this is my current cash position

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he was richer than everyone in the chat in terms of cash combined this guy lives

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so he lives in like a studio apartment he never balls

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he doesn't have like a fancy car doesn't have fancy clothes

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and he's richer than the entire lot of my friendship group

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and i thought god there's something really important here in terms of

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and it's it's so crazy if you

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if you know the context of what i'm saying

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because i've got a friend in

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that chat who's built like a big business I've got a friend like everyone in that chat runs businesses is successful,

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but they're living in different ways

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And the one friend who runs the smallest business who like probably has the least income is the richest

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And over the last couple of days, it's so funny I was thinking about all the dinners.

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I bought this fucking guy.

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I'm like, I didn't know you're a millionaire I would have been paid for everything.

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But this is really I mean if we ignore your friends it's very easy to look fake rich.

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Because everybody will give you a line of credit.

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If I want a Gucci person, I can't afford the Gucci.

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Guess what?

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I can buy now, pay later.

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I can open up a credit card and buy the Gucci and look like I'm rich.

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When in reality, I'm just making Gucci rich.

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In fact, one of the richest people in the world, in 2023, he was the richest person in the world, is Bernard Arnault.

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He's the founder and CEO of LVM, or he's the founder and CEO of the company that owns Louis Vuitton. And why?

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Because millions of people pay him to look rich, when in reality he's the one that's getting rich.

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And we assume that when you make some more money, you got to start looking the part.

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And this is that mindset shift that we have to make.

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And, you know, a lot of people resonate who come from the Indian traditional families.

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They message me saying, Jaspreet, I became a doctor.

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or my wife and I are doctors, we make hundreds of thousands of dollars a year.

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We make a great income, but we have no savings and no investments, and I don't know what to do.

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And the reason why is we have a Range Rover and a Benz.

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We have a nice house.

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We go on the doctor vacations.

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We have to look the part, but we don't have any money left over at the end of our paychecks.

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And it's a very easy thing to get caught up in because when you make more money, you become more credit worthy.

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Banks will give you bigger loans.

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When you make more money, you want to spend more money.

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And it's very easy.

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And you have to understand how do you control that spending.

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And that's why if you follow something like 75, 15, 10, one of the simplest things you can do to start is just always,

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no matter what, whether you're making $10 ,000 a year or $10 million a year, you always put money aside to invest.

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You always put money aside to save, and you spend whatever's left.

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My friend doesn't invest.

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The friend I'm talking about doesn't actually invest.

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He just doesn't spend.

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He just doesn't spend money.

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And he's just stacked up like a million dollars in cash

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whilst earning less than everyone else of my five friends in that chat.

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And it didn't take a long time.

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Like it took him four years or something, four or five years, of just running this small business with a couple of people.

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When I say a small business, I mean a really like a small business, like a business of maybe four or five employees.

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Money isn't what it used to be.

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And it's about to change again.

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For centuries, money wasn't this paper.

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It was actually physical gold.

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It was coins.

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It was bars that people would carry around.

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But carrying around physical metal wasn't very easy.

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And that was when this paper money got created.

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But this paper money was backed by physical gold.

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So if you had a hundred dollars.

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Your House Is NOT An Asset (Here's Why)

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235 sentences

Vocabulary and speaking notes for this lesson

This speaking lesson is built on the video “Why Anyone Under 45 Needs To Rethink Retirement”. The speaker keeps coming back to these words: mortgage, afford, spend. This video has 429 sentences and 5063 words to shadow. The speech runs for 26:32. The speaker talks fast, about 191 words per minute, so expect linked and reduced sounds. 87% of the words are among the 3,000 most common in English, so the vocabulary is easy to follow.

Key vocabulary in this video

15 words from the video worth learning, with pronunciation and meaning:

Word	Pronunciation	Meaning
mortgage noun	/ˈmoɹ.ɡɪd͡ʒ/	A legal agreement in which a borrower pledges real property as collateral for a loan used to purchase or refinance that property.
invest verb	/ɪnˈvɛst/	To spend money, time, or energy on something, especially for some benefit or purpose; used with in.
asset noun	/ˈæsɛt/	A thing or quality that has value, especially one that generates cash flows.
wealthy adjective	/ˈwɛl.θi/	Possessing financial wealth; rich.
liability noun	/laɪəˈbɪlɪti/	An obligation, debt or responsibility owed to someone.
pocket noun	/ˈpɑ.kɪt/	A bag stitched to an item of clothing, used for carrying small items.
vacation noun	/veɪˈkeɪ.ʃən/	An extended trip or journey away from home for rest or pleasure.
equity noun	/ˈɛk.wɪ.ti/	Fairness, impartiality, or justice as determined in light of "natural law" or "natural right".
upgrade verb	/əpˈɡɹeɪd/	To improve, usually applied to technology, generally by complete replacement of one or more components.
investor noun	/ɪnˈvɛs.tə(ɹ)/	A person who invests money in order to make a profit.
earn verb	/ɝn/	To gain (success, reward, recognition) through applied effort or work.
lifestyle noun	/ˈlaɪfˌstaɪl/	A style of living that reflects the attitudes and values of a person or group.
landlord noun	/ˈlæn(d).lɔɹd/	A person that leases real property; a lessor.
founder noun	/ˈfaʊ̯n.dəː/	One who founds or establishes (a company, project, organisation, state, etc.).
chase verb	/t͡ʃeɪs/	To follow at speed.

Phrasal verbs you will hear

Word	Meaning
go out verb	To leave, especially a building.
go up verb	To move upwards.
go through verb	To travel from one end of something to the other.
break down verb	To stop functioning.
end up verb	To bring to a conclusion.
get over verb	To overcome.
go back to verb	To stem from; to originate in.
go down verb	To descend; to move from a higher place to a lower one.

Sentences worth repeating

Short, complete lines from the video that you can reuse in everyday conversation:

Why did nobody tell me about this?
Should I not buy them?
Can you afford to own a house?
Do you feel bad for me?
How do you know if you can afford one?

Grammar in this video

The structures the speaker uses most, with the exact words from the video:

Structure	In the video
Relative clauses who / which + clause — extra information about a person or thing	mortgage which means · Briefs, which is · mortgage, which is
Passive voice be + past participle — the focus is on what happens, not who does it	were decimated · being decimated · was listed
Present perfect have/has + past participle — a past action that still matters now	have hit · you've been sold · has been

Pronunciation to watch

The speaker uses 142 contractions and reduced forms, such as I'm, don't, you're. Say them the short way, as you hear them.

The “th” sounds: wealthy /ˈwɛl.θi/, worthy /ˈwɝ.ði/, mathematics /mæθ(.ə)ˈmæt.ɪks/, myth /mɪθ/, thumb /ˈθʌm/
The “sh” and “zh” sounds: vacation /veɪˈkeɪ.ʃən/, admission /ədˈmɪʃən/, tuition /tjuːˈɪʃən/, promotion /pɹəˈmoʊʃn̩/, friendship /ˈfɹɛn(d)ʃɪp/
Long words — get the stress right: liability /laɪəˈbɪlɪti/, potentially /pəˈtɛnʃ(ə)li/, mathematics /mæθ(.ə)ˈmæt.ɪks/, negotiate /nəˈɡəʊ.ʃi.eɪt/, millionaire /ˌmɪl.i.əˈnɛə(ɹ)/

How to practise with this video

Listen to the whole video once without speaking and note the words you do not know.
Start at 0.75× speed, shadow it sentence by sentence, then go back to normal speed once it feels easy.
Record yourself and compare with the original, paying attention to words like mortgage, invest, asset.

What is the Shadowing Technique?

Shadowing is a science-backed language learning technique originally developed for professional interpreter training and popularized by polyglot Dr. Alexander Arguelles. The method is simple but powerful: you listen to native English audio and immediately repeat it out loud — like a shadow following the speaker with just a 1–2 second delay. Unlike passive listening or grammar drills, shadowing forces your brain and mouth muscles to simultaneously process and reproduce real speech patterns. Research shows it significantly improves pronunciation accuracy, intonation, rhythm, connected speech, listening comprehension, and speaking fluency — making it one of the most effective methods for IELTS Speaking preparation and real-world English communication.

Shadowing technique: read the full step-by-step guide →

Shadowing Practice: Why Anyone Under 45 Needs To Rethink Retirement - Learn English Speaking with Video

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