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Contenu fourni par Mike Jesowshek, CPA, Mike Jesowshek, and CPA. Tout le contenu du podcast, y compris les épisodes, les graphiques et les descriptions de podcast, est téléchargé et fourni directement par Mike Jesowshek, CPA, Mike Jesowshek, and CPA ou son partenaire de plateforme de podcast. Si vous pensez que quelqu'un utilise votre œuvre protégée sans votre autorisation, vous pouvez suivre le processus décrit ici https://fr.player.fm/legal.
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Why Your 401(k) Explodes After You Save $100,000

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Manage episode 456129257 series 2971588
Contenu fourni par Mike Jesowshek, CPA, Mike Jesowshek, and CPA. Tout le contenu du podcast, y compris les épisodes, les graphiques et les descriptions de podcast, est téléchargé et fourni directement par Mike Jesowshek, CPA, Mike Jesowshek, and CPA ou son partenaire de plateforme de podcast. Si vous pensez que quelqu'un utilise votre œuvre protégée sans votre autorisation, vous pouvez suivre le processus décrit ici https://fr.player.fm/legal.

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What if the key to unlocking exponential growth in your 401k is simply reaching $100,000? Could this milestone be the turning point for your financial freedom?

In this episode, Mike Jesowshek dives into the concept of why your 401k experiences explosive growth after reaching a $100,000 threshold. He explains the mechanics of compounding interest, the rule of 72, and how starting early can significantly impact retirement savings. Mike also introduces the idea of self-funded retirement accounts, detailing how business owners can leverage them to invest in areas such as real estate or cryptocurrency. He underscores the importance of surpassing the $100,000 mark to unlock greater investment opportunities and financial flexibility, offering practical tips to achieve this milestone efficiently.

[00:00 - 06:15] The Power of Compound Growth

  • Mike shares his personal financial journey and why $100,000 is a pivotal milestone for investors.
  • He breaks down the "rule of 72" and how it applies to achieving financial goals.
  • Early and consistent investing accelerates your financial trajectory.

[06:16 - 12:10] Why $100,000 is a Game-Changer

  • Mike discusses how hitting $100,000 opens doors to investment opportunities beyond traditional options.
  • Reaching this milestone creates leverage for greater diversification and growth.

[12:11 - 16:45] How to Get to $100,000 Faster

  • Mike highlights the importance of automating investments and sticking to a long-term strategy.
  • Focus on consistency and discipline to build momentum.

[16:46 - 19:24] Final Takeaways and Encouragement

  • Mike recaps the importance of achieving $100,000 and how it sets the foundation for future wealth-building.
  • Take the first steps today, no matter where you are in your financial journey.

Direct Quotes:
"Think of compounding interest like a snowball rolling down a hill—small at first, but it can grow into something massive over time." - Mike Jesowshek, CPA

"The rule of 72 gives you a simple formula: divide 72 by your interest rate, and you’ll know how long it takes for your money to double." - Mike Jesowshek, CPA

"Starting early with your retirement savings means you’re giving your money more time to work for you, doubling multiple times before retirement." - Mike Jesowshek, CPA

______

Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast

Join TaxElm: https://taxelm.com/

-------

Podcast Website: https://www.TaxSavingsPodcast.com

Facebook Group: https://www.facebook.com/groups/taxsavings/

YouTube: www.TaxSavingsTV.com

  continue reading

340 episodes

Artwork
iconPartager
 
Manage episode 456129257 series 2971588
Contenu fourni par Mike Jesowshek, CPA, Mike Jesowshek, and CPA. Tout le contenu du podcast, y compris les épisodes, les graphiques et les descriptions de podcast, est téléchargé et fourni directement par Mike Jesowshek, CPA, Mike Jesowshek, and CPA ou son partenaire de plateforme de podcast. Si vous pensez que quelqu'un utilise votre œuvre protégée sans votre autorisation, vous pouvez suivre le processus décrit ici https://fr.player.fm/legal.

Send us a text

What if the key to unlocking exponential growth in your 401k is simply reaching $100,000? Could this milestone be the turning point for your financial freedom?

In this episode, Mike Jesowshek dives into the concept of why your 401k experiences explosive growth after reaching a $100,000 threshold. He explains the mechanics of compounding interest, the rule of 72, and how starting early can significantly impact retirement savings. Mike also introduces the idea of self-funded retirement accounts, detailing how business owners can leverage them to invest in areas such as real estate or cryptocurrency. He underscores the importance of surpassing the $100,000 mark to unlock greater investment opportunities and financial flexibility, offering practical tips to achieve this milestone efficiently.

[00:00 - 06:15] The Power of Compound Growth

  • Mike shares his personal financial journey and why $100,000 is a pivotal milestone for investors.
  • He breaks down the "rule of 72" and how it applies to achieving financial goals.
  • Early and consistent investing accelerates your financial trajectory.

[06:16 - 12:10] Why $100,000 is a Game-Changer

  • Mike discusses how hitting $100,000 opens doors to investment opportunities beyond traditional options.
  • Reaching this milestone creates leverage for greater diversification and growth.

[12:11 - 16:45] How to Get to $100,000 Faster

  • Mike highlights the importance of automating investments and sticking to a long-term strategy.
  • Focus on consistency and discipline to build momentum.

[16:46 - 19:24] Final Takeaways and Encouragement

  • Mike recaps the importance of achieving $100,000 and how it sets the foundation for future wealth-building.
  • Take the first steps today, no matter where you are in your financial journey.

Direct Quotes:
"Think of compounding interest like a snowball rolling down a hill—small at first, but it can grow into something massive over time." - Mike Jesowshek, CPA

"The rule of 72 gives you a simple formula: divide 72 by your interest rate, and you’ll know how long it takes for your money to double." - Mike Jesowshek, CPA

"Starting early with your retirement savings means you’re giving your money more time to work for you, doubling multiple times before retirement." - Mike Jesowshek, CPA

______

Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast

Join TaxElm: https://taxelm.com/

-------

Podcast Website: https://www.TaxSavingsPodcast.com

Facebook Group: https://www.facebook.com/groups/taxsavings/

YouTube: www.TaxSavingsTV.com

  continue reading

340 episodes

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