After cutting unnecessary expenses, focusing on needs vs wants, paying off all debt (other than 4% mortgage), changing phone plan, cutting cable, cooking my own food, and most importantly, working even more harder, I was able to save $104,438.21 in 11 months. I'm tired, but I did it.
@@FIREPsyChat In 2024 I am maxing out 401k (currently at 300k saved), maxing out Health Savings Account, saving another 100k for ETF & Mutual Funds. Then finally in December 2024 an all inclusive one-week vacation to Cancun (already booked). Need to recharge my batteries.
just stumbled on your page and within the first minute, I have seen more shorts than I can scroll on my phone. could you please reduce the amount so that viewers can follow what your saying. thanks
Let me tell you this from a guy from France : your explanation was a little bit difficult in first hand but after that when you reexplain your excel tab, that was great. Thx u sir 🫡
You won’t take a loss unless you sell. If they are quality stocks they will come back up over time. If you bought meme stocks that’s a different story…
It took me two years and one months to save 100k it’s not hard. Just got to have a decent income and make sure all your mills are paid and budget with what’s left. Only takes 4k a month in two years to save. Easy! Not everyone making 2k a week so I understand but it’s easier with no kids and low rent or mortgage. I paid rent phone food and car insurance and food with cash for self left over. Save 4k a month for two years that’s all
i have 400k all in cds, not sure what to do. thinking of buying half gold. i already contributed the 5% match roth ira at work. I net 110k a year after taxes and all living expenses. it seems i need to start learning more about investing than saving all that cash
Wow, after taking the time to combine my investment and savings, it was a pleasant surprise to see a combined value and I realized I will reach $100k THIS YEAR! Subscribed 👌🏻
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After cutting unnecessary expenses, focusing on needs vs wants, paying off all debt (other than 4% mortgage), changing phone plan, cutting cable, cooking my own food, and most importantly, working even more harder, I was able to save $104,438.21 in 11 months. I'm tired, but I did it.
You sure did it that’s awesome. What’s your next goal?
@@FIREPsyChat In 2024 I am maxing out 401k (currently at 300k saved), maxing out Health Savings Account, saving another 100k for ETF & Mutual Funds. Then finally in December 2024 an all inclusive one-week vacation to Cancun (already booked). Need to recharge my batteries.
Took me 2 1/2 years to hit my first 100k. i went total monk mode ate beans and rice for breakfast, lunch and dinner
I hate beans but I definitely ate ramen 😂
@@FIREPsyChat bruhh😭😭😭
I like the thinking here. I should be able to easily get to 100k+ by the end of the year. Thanks.
Yes. I think you can achieve 100K in savings within a year with passive income and multifamily real estate investing.
100k is a good achievement but it can easily dwindle away if you don’t stick to the path that got you there in the first place
Yep that’s true. 100k can be gone in a minute especially if u have a home
I like your logical and easy to understand explanations. Subscribed!
This video is super helpful. the examples are very relatable.
Heck yeah!!
Just got to the end of year 3 and hit 70k. Hoping to get there by the end of year 4.
I love your videos. They are so thorough and insightful.
Thank you so much!
great stuff! thanks for sharing.
💪
I really like the Fidelity 500 Index (FXAIX). I hit 100k net worth at 25 years old.
Heck yeah!! That’s awesome
I'm buying that index as well
Thanks as always for the great content. Hello again from St. Louis.
And hello from Vegas at 95 degrees 🔥 thank you!
Okay, so you do not include home equity, By that, you mean your residence, right? What if you have another rental property?
just stumbled on your page and within the first minute, I have seen more shorts than I can scroll on my phone. could you please reduce the amount so that viewers can follow what your saying. thanks
Let me tell you this from a guy from France : your explanation was a little bit difficult in first hand but after that when you reexplain your excel tab, that was great. Thx u sir 🫡
Glad to help!
Depends on income. It could take a year for some
Thank you for the information
What do you do after you have achieved the first 100k? Great video!
You add another 0 after 100K!
Great video
Am so much Happy
Question, what if you have 100K but your stocks are down. Does that still mean you have achieved 100K?
You’ve saved 100K and I’m guessing the stocks are down temporarily so how do you feel about it
You won’t take a loss unless you sell. If they are quality stocks they will come back up over time. If you bought meme stocks that’s a different story…
It took me two years and one months to save 100k it’s not hard. Just got to have a decent income and make sure all your mills are paid and budget with what’s left. Only takes 4k a month in two years to save. Easy! Not everyone making 2k a week so I understand but it’s easier with no kids and low rent or mortgage. I paid rent phone food and car insurance and food with cash for self left over. Save 4k a month for two years that’s all
Great video, I appreciate seeing the breakdown. If your job offered a cash balance pension, would you include that balance in your net worth?
Yeah I would if that cash balance can be transferred to your Traditional account after you leave your job
Can I add more money from my bank account to 401k? I thought it was only from your paycheck that u are able to contribute to your 401k.
i have 400k all in cds, not sure what to do. thinking of buying half gold. i already contributed the 5% match roth ira at work. I net 110k a year after taxes and all living expenses.
it seems i need to start learning more about investing than saving all that cash
High yield dividend funds (yieldmax, defiance, Kurv, roundhill) cash flow is king
Does the mega back door Roth apply to civilian government employees and TSP?
Wow, after taking the time to combine my investment and savings, it was a pleasant surprise to see a combined value and I realized I will reach $100k THIS YEAR! Subscribed 👌🏻
Do let me know when you reach it!!
For In service roll overs withdrawals/distributions, you have to be 59.5 years old to do. If not u face a 10% tax penalty
Is he telling me investing 1k a month for 7 years will get me 100k following the s&p ?
Likely sooner with compounding
i gambled over 100k on credit cards and nft market
you should iron your collar