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111. Why Saving First $100,000 is Hard [BUT Next $100K is Easy]
Manage episode 334517489 series 2328629
Anyone trying to save $100,000 should know it’s not easy, but it’s very possible. In this video I’ll share with you how to make this happen fast. Charlie Munger, one of the most successful investors of all time said that accumulating the first $100,000 from a standing start, with no seed money, is the most difficult part of building wealth. It took me about 10 years of investing without any kind of real strategy to get to my first $100k in my 401k and I can tell you the time it takes you to get the next $100k after that is much shorter, but why is that and what can you do to make it to your first $100k faster than 10 years?
Check out the top 5 ETFs to buy for long term investing here
Check out Average Net Worth By Age 2022 (How Do You Compare?)
Check out this video on 8 BEST Vanguard Index Funds
Check out my affiliate links below for products I recommend that I've used personally or researched enough to know they're worth your time.
Get Term Life Insurance. Creating an account is free with Haven Life and you can estimate how much you can expect for the amount of life insurance you're interested in (this is who I got my life insurance policy with). Haven Life 👍🏾➡️ https://habeshafinance.com/haven
Recommended personal finance books: The Total Money Makeover ➡️ https://amzn.to/2O4sLeU The Millionaire Next Door ➡️ https://amzn.to/38IIh80 The Simple Path To Wealth ➡️ https://amzn.to/38WoQZJ
Thanks for checking out my affiliate links above and I'm certain you will be very happy you did. As an Amazon Associate I earn from qualifying purchases.
154 episodes
Manage episode 334517489 series 2328629
Anyone trying to save $100,000 should know it’s not easy, but it’s very possible. In this video I’ll share with you how to make this happen fast. Charlie Munger, one of the most successful investors of all time said that accumulating the first $100,000 from a standing start, with no seed money, is the most difficult part of building wealth. It took me about 10 years of investing without any kind of real strategy to get to my first $100k in my 401k and I can tell you the time it takes you to get the next $100k after that is much shorter, but why is that and what can you do to make it to your first $100k faster than 10 years?
Check out the top 5 ETFs to buy for long term investing here
Check out Average Net Worth By Age 2022 (How Do You Compare?)
Check out this video on 8 BEST Vanguard Index Funds
Check out my affiliate links below for products I recommend that I've used personally or researched enough to know they're worth your time.
Get Term Life Insurance. Creating an account is free with Haven Life and you can estimate how much you can expect for the amount of life insurance you're interested in (this is who I got my life insurance policy with). Haven Life 👍🏾➡️ https://habeshafinance.com/haven
Recommended personal finance books: The Total Money Makeover ➡️ https://amzn.to/2O4sLeU The Millionaire Next Door ➡️ https://amzn.to/38IIh80 The Simple Path To Wealth ➡️ https://amzn.to/38WoQZJ
Thanks for checking out my affiliate links above and I'm certain you will be very happy you did. As an Amazon Associate I earn from qualifying purchases.
154 episodes
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