Why Your First 100K Is Hard But Your First MILLION Is Easy!
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- Опубликовано: 23 июл 2024
- Building wealth is typically a slow process, especially when you're just getting started. This has been confirmed by plenty of people who have made large amounts of money themselves. Charlie Munger is one of them, and he once said, "The first 100k is a b*tch." And, while he said it during a Berkshire Hathaway shareholder meeting in the 1990s, it is still true today and will be for the rest of our lives. In fact, for most people, their first $100,000 is one of the most challenging milestones to reach.
The same applies to your first $1,000,000. Consider having a million dollars to retire early. With careful planning and budgeting, your money could provide a comfortable income for many years to come. Or, finally, after many years of hard work, to build your dream house in the location of your dreams.
However, saving $1,000,000 would require $33,000 every year for 30 years. In other words, not realistic since you want to go on vacation every year, have a mortgage to pay, children to raise, and send to school... It's simply too much, and you can't do it with a regular job.
Most people forget about $1,000,000 because they have no plan to reach it. “It is just for those that start a business or get lucky with rich parents.” So you decide to give up and focus on smaller goals.
In this video, I'll help you re-imagine your $1,000,000 by going over some basic math and explaining why it's so difficult to reach your first $100,000 but why it’s easy to get to your first $1,000,000.
Chapters:
0:00 Intro
1:35 The First Action: Investing!
3:01 The First 100k
5:08 Your First Million
7:16 The Math Works At Every Level
Disclaimer: We are not financial advisors, any information provided in this video is for entertainment purposes only, for any investment advice please speak to a qualified financial advisor. Millionaires Mind and the author of this content excepts no responsibility for any financial loss. Do your own research before investing in anything be it business, stock shares or any financial vehicle.
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to my FA, my portolio is doing really great and im proud of the decisions i made last year.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
Rachel Sarah Parrish has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for sharing, I must say, Rachel appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
Not just saving ,the idea of investing a significant sum of money may be both thrilling and intimidating. There seems to be potential for considerable wealth increase with the correct strategy. How can one take advantage of the present market to grow one's retirement savings over time?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $90k every one quarter of the year so I’m sticking to investing via an Adviser.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Well-done. Vivian Carol Gioia appears to be highly knowledgeable and very qualified, came across her consulting page just after inputting her full name on the web. In fact, Ive seen commentaries about advisors, but not one looks this phenomenal.
I'm curious, for someone with around $50,000 to invest, how would you recommend we enter the market? I am looking study some traders and copy their strategy rather than investing myself and losing money emotionally. What's your take on this
It's all about finding the right moment to take advantage of and generate colossal profit, which is why you need to do your research.
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Loved every second of my watch to the very end. You are a great teacher. I’m 56 and own a small business with $480K in savings. But I'd still love to grow my investments ahead of retirement. Do you mentor others? Really need some guidance to financial freedom.
Just buy BITCOIN and hold. Or gold, or find quality stocks that have long term potential, and ride with those stocks. But advisably, just seek counsel from a market strategist.
Agreed, this is why i now work with one. I’ve been investing by myself in the market for 11 years now, but the last 6 years is with the help of a financial planner. Throughout the 6 years of guidance alone, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1.4m roi as of today.
Please who guides you on the process of it all?
She's known as a 'MICHELE KATHERINE SINGH'. One of the finest portfolio managers in the field also widely recognized. Just research the name. You’d find necessary details to work with and set up an appointment.
Thank you for sharing. I just scheduled a phone call with her. She seems proficient considering her résumé.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
I agree. I have pulled in more than $835k since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.
@@mariaguerrero08Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.
"Camille Alicia Garcia" maintains an online presence. Just make a simple search for her name online.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $560K for sometime now, my major challenge is not knowing the best entry and exit strategie;s ... I would greatly appreciate any suggestions.
For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary expertise to pull off such trades effectively carry them out.
It comes down to technique; a downtrend gives you room to focus on the market and grow significantly in the short or long term. While it is easier to make money when the market is rising, a downtrend can still yield high returns if you have the necessary knowledge and skills. For this reason, I have been scaling up during this difficult period by working with an investment advisor; this has been the only way I have raised up to $150K in the last six months.
I work with Alicia Ann Jordan, a licensed fiduciary. Simply look up the name. The information you need to work with a letter to schedule an appointment would be included.
Stock Gems on Substack - 😉✅💎
@@JanineJ.Cromwellshut your face scammer
The first 100k indeed has been a b*tch. I’m 26 and at the 70k mark. No useless spending, no vacations, just work, save, and invest. God has blessed me and I know he guides me in the right direction.
God is dead. I don't rely on spiritual, psychological beings, but on reality, the socieconomic reality that shapes the money, job market and our economic decisions daily in life. Believing in God made me weak. As I rejected God, I became stronger as I now have power over my destiny. However, having power over one's destiny is dependent on social reality, on the reality of human relationships which is a power struggle. Everybody desires wealth, peace, and good health by default.
I’m 27. Had about 70k invested. By January of 23 all my accounts combined went from ~70k plus 23k in my cash emergency fund to ~26k in investments and luckily still had my emergency fund. Now I’m July 2023 my investment accounts just hit 74k. I’m still down about 20k of money that I invested but since I been DCA in my favorite stocks and indexes I’m back in the right track. Hopefully hitting the 100k mark in liquid assets the next few months.
100k in 1990s is like 300k today
@@lazybeastz182it’s more like 220k buy hey 😂😂
Keep going brother. I’m an atheist so I’d say you got to where you are by your own work but imagine the help you can give people around you when you’re wealthy enough to help others and it’s a drop in the bucket.
Good job.
Yep. Took us 13 years to get to 200k. During that time our household income went from 30k up to 110k. This year it's going to 260k. Lots of hard work pays off. If we can do it you can do it. We are nothing special.
Our lifestyle only costs $40-50k. We are going to save at least $100k a year after tax dollars and 30k before tax dollars in retirement accounts.
Goal is to get the retirement investments and outside retirement investments all to at least 1 million in the next 6-8 years before our term life insurance policies expire.
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
The stock market rally run is gone, but I'm not sure if equities will swiftly recover, keep falling, or fluctuate in a narrow range for a few weeks, or if things will quickly get worse. I'm under pressure to increase my $85k reserve.
the market is profiting if you are using a good broker or account manager to help out with trades or provide signals
I'm a beginner. How can i reach out Mrs Lauren Wooten?
I keep seeing different recommendations about Mrs Lauren Wooten, she must be very exceptional for people to: talk this good about her
Her success story is everywhere. I keep on hearing Mrs Lauren Wooten name being mentioned here and other platforms, Does she really worth the credits and reviews?
As an investor that wants to build wealth, its best to diversify your investment portfolio. Like spread your investments across different asset classes to manage risk. Then with growth strategy, focus on capital appreciation through high-risk, high-reward assets. With Income-oriented strategies, target regular income from dividend stocks or bonds. Finally, with value strategy, seek undervalued assets for potential long-term gains. Works like magic!
This is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. That is how people are able to make such huge profits in the market.
I wholeheartedly agree, this is why I choose to delegate my daily investment decisions to a coach. Their specialised knowledge, research, and risk management skills make it challenging for them to underperform. They focus on utilising risk for its asymmetrical potential while mitigating downsides. I've been with my investment coach for over two years and have earned over a quarter-million dollars.
@marvishaN My collection has been underperforming recently, and I'm considering a strategy change with the help of a coach. Is it possible to get in touch with your coach?
@tommymyershoffman Yeah. Heather Lee Larioni is my counselor; I was introduced to her by my partner. He has her contact information, but you could look into her background and get in touch with her directly. She is well-known and grounded, so it shouldn't be difficult to locate her page.
@marvishaN I might have heard this name somewhere; think in reviews majorly, can't really recall. I'll be following her up. Thank you. Do you know if she manages family funds too?
It took me 5 years to get to 100k. it took me half that time to go from 100k to 250k. You make all your worst mistakes making that first 100k, because you really don't know what you're doing and compound interest isn't really helping. After you hit 100k, you start to figure out what works.
How much did you invest to get to 100k in 5 years?
I would love to know about how you get your 100k too
I concur entirely. The first $100,000 was the hardest to save, but my wife and I were able to do it. We could have spent the money on a variety of things, such as holidays, but we chose not to do so. In fact, interestingly enough, we didn't really begin investing actively until I was 30 years old, in 1998. I'm 53 now, and I have a respectable $1.2M in savings. My only regret now that I know everything is that I didn't start when I was 25. Even while it might not seem like much, the extra five years are crucial.
Consistently investing in quality dividend paying companies over the long term is a relatively easy strategy to create generational wealth.
out of curiosity I did read about Olivia Rene Reyes on the web, she has a great resume
i'm happy there are lots of people doing so well...Love this channel for the transparency
Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
Another money wisdom i realized too late is that we salary earners need to understand that monthly income will not make you rich.
Dividends from good investments just balloon if you accumulate more than $100k. My dad, as I remember, started saving for retirement quite late, but I know he was making more than 10k returns from his investment monthly and it was completely passive.
This is really amazing though. I'm curious as to how he did it. Was it real estate? Or he was a market enthusiast?
Haha. Not my dad. Our family got introduced to a financial advisor about four years before my dad retired. That was what changed things. I've been using the same now and I think my retirement income would be on the right track.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I'm hesitant to make recommendations like this online so I can't drop her contact here, but you could look her up yourself and contact her if you wish. Her name is Sharon Louise Count.
I appreciate this, man. I'll look her up, and I hope I'm able to reach her.
It took my wife and I over three years to save our first 100K. Just under two years for our second 100K. Now we are on our way to 300K. Every 100 is faster than the last one.
Your divorce will reduce it all to just 1/3. Don't bother accumulating wealth if married.
OF?
@@johntorrington2672 Because every marriage ends in divorce? Dumbass
Lol@@johntorrington2672
Man. 27 with 70k saved already. Keep it up. You are already accomplishing more than 95% of your peers.
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks this year. Hope to make millions in 2024.
Since risk is at an all-time high right now, perhaps you should be a little more patient but remember the bigger the risk the bigger the results. Alternatively, you can consult a trained financial expert for strategy.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
who is your advisor please, if you don't mind me asking?
Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
The second million is easy. Just sit back, relax & let the first million do the work.
Pretty much every million after the first is easy. You've already built the ground work for the first million to do it's thing
At 10% growth, it takes 25 years for a lump sum of £100k to become £1M. But it takes just 8 years for £1M to become £2M. The more you have, the more you make. The rich get richer.
LI suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one depressed
I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
So you could contact to try less amount
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Carol Pasol Lewis is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
my 401k just hit 100k im ready for it to take off like a rocket
Wealth/Success is dependent on the action or steps you take to achieve it. Show me a man who doesn't have an investment and I will tell you how soon he'll go broke. Investment is building a safe haven for the future: with the right choices of investment that has minimum risk and with an Expert guidance, profit and interest should be guaranteed.
The best way to build wealth is by starting early and making investing a priority. I learned from my experience last year that by starting early with investments, I was able to build a suitable lifestyle this time.
I have been investing in stocks for over 10 years now and I have made a lot of money. My portfolio has grown exponentially and I can't thank stocks and Laurel Dell Sroufe enough for such an amazing way to make money.
@@TomD226 I'd be glad to get the help of one, but just how can one spot a reputable one? How did you spot this Laurel ?
@lowcostfresh2266 In fact, I'm not sure whether I'm permitted to say this, but I'd suggest searching for Laurel Dell Sroufe as she gained a lot of attention in 2020. She is both my coach and the manager of my portfolio.
@@TomD226 Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Most definitely need a part time job just to get to the first 100k. I work part time ‘just’ to invest. Just for investing.
Most people don't really invest due to ignorance and discouragement from family or friends without trying to experience it themselves too.
My portfolio has good companies, however it has been stalling this year I have approximately $600k stagnant in my reserve that need growth.
*DEBORAH STAVARACHE CASTRO* is the analyst/brokerage-adviser. She has been of great help and her tutelage has brought me to a higher understanding of profit generation. She Understands the job perfectly.
I have search her on Google thanks for your Recommendation.
Just started my first retirement savings last year. I’m 37yo, I can’t wait to retire early. I got a good plan, so I am not worried.
Really helpful video as well...thank you!!!
I'm 26. I started investing this year 2023. I'm at $1,500 at the moment and doing investments as well as proper trading after studying. I'm planning to do an online business once I hit a certain amount. I'll edit this comment after one year at 27 years old, then 29, and finally 30.
Good luck bro, diamond hands
Just taking a checkpoint there, don’t bother
with $1,500 you should expect to wait around 10 Years to maby have enough income for a Business It takes for some $50K
I watch several RUclips videos on how to trade in the stock market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
@Anikaparvati1 What is the name of your broker and how do i connect with him or her ?
@AustinWalker67 Bridget Mary Turow her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
Im doing pretty darn well. I started investing 3 years ago and I'm already at 60k. I hope to be at 100k 2 years from now. At this rate I'll be a millionaire by 35
We are currently getting into an era where all currencies will be backed up by commodities like gold, silver and bitcoin, is it still a good time to invest in these markets or am i too late? I currently have about 500k in savings lying waste to inflation.
This rally is a real one, solid, not some fake thing not based on two months gossips. Now we are talking real economics here. I'd suggest you consider financial advisory due to your budget as one wrong move could significantly erode it.
@bastianrusso Absolutely! Many undervalue advisors, but their expertise and risk mitigation strategies are invaluable for savvy investors. For those with busy schedules, monitoring the market is challenging, so we delegate to experts. I'm currently working with one, and my portfolio has grown to $1.3M, a 25% increase from last year, with robust diversification and inflation hedging.
@@greekbarrios Impressive! If you're willing to share, how can one get in touch with this advisor? My portfolio hasn't performed well this year, and I'm seeking guidance
Of course, I have been working with 'MONICA SELENA PARK,' and the beauty of it is that her knowledge covers a wide range of financial advisory services, including digital assets. You can look her up yourself to do your due diligence.
Thanks for sharing. I curiously searched for her full name and her website came first. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
Agreed its definitely the hardest since the compound gains in the beginning are small compared to compound gains post 100K. But the next 100K would come much quicker, and the next even quicker and so on. Ofcourse being in a Bull Market also helps! As a general rule, if you throw everything into say a low cost index fund such as VTSAX and forget about it, that would more than likely double every 7 years if history serves us correctly. Ofcourse past performance doesn't guarantee this, but its a solid indicator! :)
I'm not sure when I hit 100K since I wasn't paying attention. I just know I'm at 500K now.
I'm under pressure to grow my reserve that currently holds about $500k. I'm down by 20% already following the crash and I fear I could lose more.
I would say both are difficult but possible....I remember when I hit 100K about 8 years ago. Now I'm at 575K. It seems like it is going up slowly but it could just be my perception of time.
Also if your doing Roth, which I just started a new bucket to offset taxes in the future will be much slower to get to 100K, since your paying tax now.
Don’t forget about HSA, if you have one, great tax saving option.
The problem is that the average returns for people with a fund manager is 2% and most people don't know what they are doing to make 7% on their own
Yes you are right, that's why we like s&p500 and all world ETFs. The costs are extremely low, well diversified and it's easy to understand how your money is invested.
S&P 500 gives 9.3% on average, growth etf easely surpass this. Those are good for people who dont know what they are doing.
@@jeremywolf9472. VOO!! 0.03 it cost that’s it load up ! Apple 🍎 Tesla and Amazon I add to as well ….
@@jeremywolf9472 the problem is not that people don’t know what they’re doing, it’s because buying individual stocks is expensive. So it’s easier to give the money to a fund manager. Which is why etfs are so attractive
@@mlnsmndpersonally I think investing in cheap stocks dividends companies is better way to go in $5.00 ,$10.00 ,$15.00 and $20.00 stocks dividends companies are better if you can't afford those expensive stocks dividends companies like ExxonMobil,j&j McDonald, and apple also Microsoft cheap stocks are better way to start that way when you invest in 12 different companies in each of them make in each company $300 to $400 in each of them you'll have $3,600.00 to $4,800.00 keep making another $3,600 to $4,800.00 add that up I'll be able to afford to invest in those companies
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
There are a lot of independent advisors you might look into. But i work with Carol Pasol Lewis and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her.
I have been managing my 200K portfolio well over the past few years but I just don't have the time to replicate what I did in the past. I took a hard hit after some poor decisions and I am looking to recover and excel in the investment field.
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
I agree, based on personal experience with an investment advisor, I currently have $985k in a diversified portfolio with exponential growth.
Pls who is this Advisor that guides you? I’m in dire need of one
Having a good FA is essential for portf0lio diversification. My advis0r is *Sharon Louise Count* who is easily searchable and has extensive knowledge of the financial markets.
I Looked up her name and her website popped up immediately, interesting stuff so far, about to schedule a session with her.
to the coworkers that say its too risky, I usually try to tell them that keeping cash is even more risky than investing into something. youre guaranteed to lose ATLEAST 2% a year (been WAY more in recent years) of cash value, even just buying an index fund stock is better than keeping any meaningful amount of cash in the bank
I wouldn't know I just started investing at 35 (this year 2023) cause my 20s was tough and I went thru a lot of things that lead to me becoming homeless. so we will where I am by 40
Never too old to start and you still have a lot of time to let compounding to the work. Keep buying over time. You are doing fantastic!
Starting at 35 is still very good. I even feel that starting at 50 is still good, but you'll want to reduce your expenses as much as possible.
I think lifestyle inflation is one of the biggest challenges. When you think about how much we spend of wants vs needs, we realize that our needs don't cost too much except for medical. Even some needs could be cheaper. For example, someone could relocate to a cheaper location, share housing, and live off the land. It's going to come down to the lifestyle you desire.
You’ll bet at 170k maybe more depending on what you invest in.
I didn't start tell I was 34 now at 40 I have 90k in my 401k . I plan on increasing my contributions even more.
@@BigT209 same here, I’m slightly older but started at 33/34. Now have 540k in assets free and clear. It’s crazy how compound interest works. And I’m 42. No help from parents either.
Thanks for your quality content it is useful for adapting a personal financial to do right tackle and less a short term to achieve financial freedom. 👍
Thank you for this words Dylan!
I aim to reallocate my $2 million portfolio. What's the most effective strategy to hedge my portfolio and generate profits?
It's crucial to have a well-thought-out strategy and not make impulsive moves based on short-term market fluctuations. Patience and a long-term perspective are key. You should consider a market expert to guide you.
Right, a lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
’Nicole Desiree Simon’. is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
In what investment do you advise investing 100k to quickly reach 1 million ??? QQQ?? or SCHD ETF??
I reached half a million, hope to double it in 5-6 years, but it’s kind of hard
Good luck in paying off that debt.
AND this is NOT counting DRIP! Which can potentially lower the time by years depending on dividend yield.
Great video
It is becoming very strange to me. I have paid off debt and saved and invested for years only counting on the amounts I have saved. Didn't count on the growth. Still don't get it. But it is becoming quite insane.
What is the best way to profit from the current market, meanwhile I'm still undecided about investing $400k in my stock portfolio to get some dvidends and minimize risk
Remember that investing in the stock market carries risks, and it’s important to do your own research and consult with a financial advisor before making any investment decisions.
With the help of an investment advisor, I was able to diversify my $550K portfolio across multiple markets, and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks, ETFs, and bonds
Pls who is this coach that guides you? I’m in dire need of one
NICOLE DESIREE SIMON is the Consultant that oversees my portfolio. She's been able to gain some reputation and online recognition with over 3 decades in service, so it shouldn't be a hassle to find basic info.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
Great video! I thank myself for never giving up even when it was very hard I kept pushing through until I made it out. My advice is that If you do your own investing, have you ever thought whether you should turn things over to a financial advisor? If you have significant assets, you have probably felt anxiety when making choices with your money. Perhaps you sensed that you might make better investing decisions if you knew just a little more and could invest without emotion. If this is the case, consulting a financial advisor makes perfect sense.
John Desmond Heppolette has been a significant step in my financial life journey, providing valuable knowledge, actionable advice, and motivational content. His supportive community has boosted my confidence, work engagement and has inspired me to strive for excellence. His assistance is a secret weapon for great financial growth, and his online presence is a must-see for anyone looking to improve their financial situation.
John Desmond Heppolette, really seem to know this stuff. I found his web-page when I made a google search of his full names, read through his resume, educational background, qualifications and it was really impressive. I left him a note and booked a call session with him..
Absolutely! A financial advisor can help you create a tailored investment plan that aligns with your unique financial situation and goals.
My first 100K was easy as.
My second was so hard I never actually thought it would happen.
My third was also easy, now I’m just waiting patiently for my 4th.
Where do you get a 7% annual interest rate on your savings can you give an example? I'm from the UK, Even cash ISA only pay 5% a year and that's what you just deposit which is max 20k a year, not compound interest year after year.
On your savings it will be very hard to get that kind of returns. However, a broad ETF in the S&P500 or All World has historically given a 8% return. Especially when you invest for a minimum of 20 years, you can't go really wrong.
Love your road map to wealth. Ty
Basically keep saving and take advantage of compound interest. Ooookkayyy
Is this only for stocks,etfs ?. Does this work in Real Estate ?.
Another problem Is the interest ain't guaranteed to stay the same
Is that excel sheet available for download?
the first 300K was easypeasy. 1M feels a lot harder to do for me personally.
My first $100,000 was oddly easy. I got hit by a car. True story but as an entrepreneur I love learning and seeing the true business ownership is hard and it takes systems thinking and doing to create lasting wealth...all that said I still hustle and do what I need to generate capital.
Your first $1 million is also hard.
It’s actually not, first 100k is hard because you haven’t seen any compound interest yet. Once you get there you keep going and it snowballs a lot quicker then having less invested. It happened to me. I bought a property for 100k in 2016. I had it valued in January and it’s now worth 500k. Keep investing and you’ll be fine.
That's what she said.
@leonhenry4861 but that is also fortunate timing. most investments do not give you a 400% return in 7 years. for example buying that same house now for 500k, is it believable that property will be worth 2.5 million in another 7 yrs. I think that is highly unlikely and if it did happen it says more about our inflation issue than it does compound interest returns. Just my opinion ofcourse
Yes, I understand this logic. My issue is that I got to $100k by saving, not investing. Right now it is sitting in a CD because I don't know what to do with it. Once the CD matures, where should I put it?
It depends on your time horizon and risk tolerance. In your 20s I would dca that amount in 2 years into a broad etf like the s&p500 or all world. Depending on your country you may have tax benefit accounts that I would use first.
Well I suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one depressed
I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
You could search her on web to book an appointment
I had a 100 grand 2 years ago. I didn't see this video til now. And now I don't have a 100 grand . I have squandered my opportunity. I feel like an idiot .And I have no one to blame but myself. It is so easy to spend money when you have it. I have to start over now. I have to save a 100 grand again. That is my goal in life now.
5:08 It is called Exponential growth. Who studied some calculus will understand how it works.
Where are you getting this reliable 7% interest? That’s the info I need
Stocks?
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
Impressive can you share more info?
My advisor is ‘’Catherine Morrison Evans’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
I see it as sort of a bell curve in our income earning lives. Getting 100k is hard, but starts growing faster to 1 million and then when we get close to ending work life it caps and then start declining in growth because we get conservative.
It's true if you can only save from your income, but if you invest well at a certain level you won't need to worry about work earning, instead passive income will kick in but yes people do get conservative when they get older and even when they see an opportunity they pass on it because they had enough or whatever so yes I can see the bell curve.
However if you stay as hungry for growth, it becomes more of an exponential curve.
@@hosamelsayed5723 Point went right over your head. It’s 👌🏽.
No mention of income taxes. That is what makes the first 100K so tough. You really need to make a 9 percent return tor his argument to work. Good Luck!
I'm 93 years old and penniless. Do I still have time to invest and get rich?
I hit the $100,000 mark at 19 I’m 21 now and I was at about $130,000 before this dip in the market. I think the first million will be a lot harder for me but that’s probably because I haven’t switch my strategy up.
Well I suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one depressed
I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
You could contact to try less
This is amazing.... but where do I get a 7% interest rate while keeping it realtively liquid (not a retirement vehicle)
Thank you for your comment! Achieving a 7% interest rate while maintaining liquidity can be a challenge, especially outside of retirement vehicles. Options are high-yield savings accounts, peer-to-peer lending and bond funds or ETFs. Remember, these options come with varying degrees of risk and liquidity. A broad ETF like S&P500 or All World are great options for long term growth!
Yess!😂🚀
That's exactly why I haven't invested yet. I don't want my money to be inaccessible or subject to high risk. But it's clear that without investing you get nowhere. I'm saving 1k a month now so it would take me like 8 years to reach 100k without the help of any interests.
Ha ha now that I’m well past that I see what you’re saying
Didn’t see that 25 years ago, but kept plugging away
At some point, the returns will contribute more than you can. That point is almost exactly at 100k because that amount would then be 5-10k a year. By the time it reaches 500k, your contributions will make very little difference.
I understand compound interest when investing in stocks, and reinvesting the dividends.
But how does it work with funds, I hear some also refer to compounding interest in relation to investing in funds, but how does it work in that case, since you usually don't get dividends to reinvest in this case?
Well I suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one depressed
I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
Search her name on web to book an appointment
@@RheaJohnmark i know, i had 40-50k in big tech before corona, down 40-50%, finally it's recocering a bit. Not fun times at all 🫣
Where are we getting a 7% interest rate?
Thank you, the easiest way to do it is through Index fund C TSP, it allows 22k a year. Join military and go ham on it. They also match 5% of your base pay. Love army 💜
And that is how I made my $$$$$ and traveled the world, lol. Thank you for your service!
Took me like 8 years to reach $100k in assets and wealths, but only need me 3 years to reach $1m in assets and wealths. Crazy but this is true
The first $100K was very tough to save. It seem like $200K went really fast. $400K has been tough to maintain since covid hit in 2020. I'm nowhere near saving a million dollars, and will probably not be able to hit that mark as I only have max 10 working years left.
Oh so your 55 or so years old yeah don't think your wrong.
@@donaldlyons17 Yep. I'm 55 and I figure if I can get to $600K or so, that's what I will retire with. My home will be paid off by then ($320K) and I don't have any other debt, except home utilities.
@@dtr579 Seems like that could work but I don't know your situation.
@@dtr579brahh after 50 time matters more than Money⌚. life is very short... give 100k to ur kids & teach them about investments...retire & start living ur dream life with the remaining money
@@dtr579your doing a lot better than 70% of people .
Where to get those steady 7% return all the time?
S&P 500 etf VOO returns on average 10% per year before inflation
Compound interest is ok when rates are high no good over all the years the rates were slashed to under 1% after the 2008 crash
Hopefully b4 2024 or at least b4 my 30th BD 😊
What pays 7%? I’ve seen 3
The first 100k is where you learn good habits.
My wife had an affair destroyed our lives at almost 50, made us sell our paid off home. I make 150k a year and have 100k capital , I don’t want to buy another house now and be house broke - I had almost 800k in my 401 and after its split with her 150k 401 I’ll end up with 450k 401 too. Mind you she made 70k a year and kept her money to herself . Both Christian families and never expected this deception. Im really trying to do the right thing with this capital. Be careful out there.
Good advice. Some people think religious women are any different. But when the system will benefit them so much in divorce courts, the temptation is too strong for most women to resist. They'll seduce you just to get your money. They were never in love with you, just bamboozled you to get your resources. And men fall for it because we think with our cocks.
Please never get married again , take care of yourself .
Women , society and the state is against you if you don't believe check the laws .
Divorce is awlful and can destroy men's lives .
Good luck for you brother 👍🏻
Be strong brother! You got this!
When the vampire of Omaha (warren Buffett) made his first 100k it would have been closer to a million dollars in todays worthless paper notes
First thing I thought of once I seen the video. And to be honest even more than a million. 100k back then can buy you more than 1 mil today.
6:07 Can someone break down the math on this chart? How does $10K at 7% become $100K in 7.84 years?
You have to keep investing the same amount each year or each month. This is also known as DCA or Dollar Cost Averaging. Dollar-cost averaging is the strategy of investing in stocks or funds at regular intervals to spread out your investment price.
@@mlnsmnd I understand that, invest every month myself. Can you explain how you got that exact number of years?
Well I suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one depressed
I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
You could contact to try less
I'm 25 and have 28k and feel to old to reach 1 mio ^^ But its not that easy to save a lot of money in germany.
Relax I was partying and drinking till I was 27 I didnt have a penny to my name. Right now I'm 37 and I predict i should hit that 1mil around 40.
@@trance1986how much do you have now to hit 1m in 3 years?
Money makes money!!!! 😊
It took me nearly two decades to save 100k. 4 years later I'm at 600k
_A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
2020: 40k
2021: 90k
2022: 100k
2023: 130k
2024: 260k
I'm 30 now. People called me a little crazy and felt like they didn't believe me. Retirement at 40 seems very well possible now. I might not retire at 40, but I might very well spend 100% of my paycheck at 40.
Amazing journey! Thanks for sharing and keep going :)
Some Work can make you Retire Early and even Pay you Monthly It is best to Keep working a bit and have a even better baseline.. Later you can always cut work fully but finding work past 45 Years is Hard
300k
@@masquereseau5635 Good!!
@@Jakkaribik1 Yes. But the best part now is that now I don't have to stress later in life about saving for retirement. With what I have, if I don't touch it, retirement is a done deal. And my income is now just for "operating" purposes.
The hardest part is to gain 7% every year.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My Husband and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha...
Interesting . I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation..
Finding financial advisors like Catherine Morrison Evans who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
What about the tax effect on interest earnings
It depends on where you live... thanks for watching!
Invest on what? And whete
When he said invest $79,000 and only get 21,000 extra that don't sound good to me
What bank gives you 7% on 10k?
The average annual return of the s&p 500 since 1928 is 7.7% is what he meant.
Where do we find 7% interest?
Index funds/ETFs??
I cant wait to be at a point in life where working is optional for me cause i could live off dividends if i wanted to 😂😂😂
I have 300k from working at my job for 18 years but don't know what to do with it unfortunately I didn't have a dad and I don't understand investing to the point of knowing what to invest in I understand it but I don't understand what to invest in
I suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one depressed
I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
You could contact to start up
At a 10% return the first 100k should take lesser time.
Your first $100K where? Mortgage equity? 401K account? Savings account? Roth IRA account? Brokerage investment account? All of the prior together? None of these? Would appreciate a clarification.
As long as it is invested it doesn't matter. Do research about tax advantages and taxfree accounts, because that can have a big impact on your overall returns.
@@mlnsmnd OK, so you mean $100K of INVESTED CASH. You don't mean assets like real estate or regular savings. Yes, THAT level of net worth, where it's $100K in pure invested cash is a monstrous obstacle for most people, young or older.
Yes it is hard. Charlie Munger said it best: "the first 100k is a b*tch, but you have to do it."
It's possible as long as you stay disciplined, invest as much as you can, and increase your income over time :)
I disagree…for me the first 100k was relatively easy to save. The main word here is save not invest… if you’re investing and using compounding interest, then of course it’s much easier. But to purely save 1 million is not an easy feat. It takes a lot of discipline and a decent income for it come to fruition.
I’ve made 100k over and over I think scaling is much harder
Quick fact : $100k USD in 1990 is $234k USD in 2023, and $318k CAD.
You just broke so many hearts!
@@lolatu8255 I broke mine first.