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Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $650K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
I always consult a financial advisor before investing. During the pandemic, I used their strategies to minimize risks and maximize profits, generating around $883k in three years with my advisor
Before making an investment, I always get advice from a financial counsellor. I employed their tactics to reduce risks and increase income throughout the epidemic, working with my advisor to generate about $883k in three years.
So far I'm doing good, approaching retirement with about 800k in savings. Transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?
in my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor
Agreed, the role of advisors can only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
sounds great! i've never utilized a financial advisor but enthused about making money from the stock market, could you be kind enough with info of the advisor guiding you please? I could really use some guidance
As an investing enthusiast, I often wonder how top-level investors become millionaires through investing. Buying assets may seem straightforward, but choosing the right stock without a tested plan can be challenging. I've been attempting for some time to increase the size of my $210K portfolio, but the largest obstacle is the absence of clear entry and exit plans. Any guidance in this regard would be much valued.
I'd suggest you discuss with a proper advisor, particularly if you're new at investing or facing uncertainty. I personally have over 180 companies in my portfolio, so if few companies fail, I still have others that can hold me up.
Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $175K to $650K, despite inflation.
This is definitely worth considering! Do you have any recommendations for professionals or advisors I could speak with? I really need help with proper portfolio allocation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up.
Thanks for sharing. i searched her full name and found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
Putting money into mutual funds provides a systematic and varied method for growing wealth, overseen by experienced fund managers. Although there are expenses and certain restrictions, the advantages of diversification, professional oversight, and easy accessibility contribute to the popularity of mutual funds in reaching different financial objectives.
Exactly, I used to doubt the value of a financial advisor until my wife's company assigned her an investment adviser in 2020. Honestly, it’s been the best financial decision I’ve made. It helped tremendously; I went from barely making any profit to having a well-diversified portfolio that has grown significantly, with gains exceeding $850k.
I have Karen Marie Gendron as my financial adviser. She has a solid reputation when it comes to diversifying portfolios and making. Them less vulnerable to market downturns. She may be a name you are already familiar with from Newsweek.
Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.
Let's face it... buying more stocks & index funds during stock market corrections and bear markets is scary. Which makes it really hard to do for most people like me. I have 260k i want to transfer into an s&p but its hard to bite the bullet and do it.
The truth is that 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. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market.
How old are you? Don't want to get stuck paying more in taxes in retirement than you currently pay in tax now. I put most of mine in a brokerage account and just about 10k in a 401k and max out the Roth IRA since I'm only 31. May have to do backdoor Roth next year as I'm getting close to the income limit.
Yeah I feel it’s different for everyone, as it’ll appear to be “skyrocketing” when it is making more than that person is putting in. Compounding works the same at $1,000 as it does at $100,000
Your videos have been truly impressive! As one of your regular viewers, I've been following your content closely for a while now. I'm very interested in making an investment, but I’m still having trouble identifying the right opportunity to fully commit to. I would greatly appreciate any guidance or suggestions you might have in this area.
As a beginner investor, having a mentor to hold you accountable is crucial. Personally, I’m guided by Gregory Leo Cattel, a well-known crypto consultant. While I can't share much about him, I recommend searching his name online to find the details you need to schedule an appointment.
I started working with Coach Gregory Leo Cattel back in August, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
Gregory Leo Cattel success can be attributed to his unwavering dedication to setting realistic goals, expertly navigating clients through complex financial landscapes while avoiding the pitfalls of unrealistic expectations.>
Basically, attaining 100k means you had the discipline, foresight and desire to set a goal and work toward it. It’s a proof of concept: like a cook who is asked to cook a meal as a job interview. Being able to create 100k is the blueprint for making one million or more. It’s the same path with bigger stakes.
I'm 24, and I'm trying to make this choice. I could continue saving as hard as I can and become a millionnaire by the time I'm 50. But my question is, what for? I only have one life, and I don't know if I should wait another 25 odd years before being able to buy anything and give a huge help to my futur kids, or spend more now, enjoy life now without being able to buy anything I want. Maybe I could give myself a shorter goal like 30.
@@mrleonmoff6523what you need to do is plant the retirement seed while you are young. At the S&P 500 historic annual returns, your accounts value will double every 7 years or so just due to compound growth. If you put $10k in a retirement account one time invested in the s&p 500, it could double six times in 42 years resulting in about $640k. Imagine not only that but contributing all the time and then seeing the final result. You could always plan to save and invest hard for a couple years to plant the seed, then lay off the gas and enjoy life. Better than starting the saving and investing too late and growth is stunted
@@mrleonmoff6523 I've lived a minimalist lifestyle and was able to retire at 36. I don't regret it. Here's something to consider: you can goof off in your twenties and earlier thirties and spend the rest of your life working. Or you can work, save, and invest in your twenties and early thirties, and never have to work again! Unless you plan to die by age 50, then the choice seems pretty obvious to me.
@gordongekko2781 retiring at 36 seems good to me, but how much do you need for that? Since this comment, I've given myself the Objectif to save up 300 000€ (I'm french) by the time I'm 35. That's saving 30 000€/per year, which is not really possible. So I have to do big investments in property and work really hard. But 300 000€, is not enough to retire. I could keep going for another 20 years and probably bring that up to 1,5 or 2 mil by the time I'm 50, but I would have spent 30 years making huge sacrifices. I'm not sure it's worth it.
Yep usinflationcalculator says in 1995, $100,000 = $206,890.42 today. Just 5 years prior, in 1990, it would've been worth $241,240.42. No time like the present to buy gold, friends!
Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as the EV sector, renewable energy, Tech, and Health. 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
If you don’t understand the markets, stick to an index like the S&P 500. Dollar cost average and hold long term, or better still consider financial advisory to avoid losses
Sometimes I'm surprised most people don't even know they can do that. I've been making at least 200k every year from my investments by working with an FA. When you realise it, it feels like a life hack.
Wow, that's interesting . I've recently been exploring the option of working with an FA too. Any chance you could recommend who you work with? in her area and works for Empower Financial
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a geniusl Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
As an investing enthusiast, I often wonder how top-level investors become millionaires through investing. I have over $545K in equity from a home sale and I'm unsure what to do next. Is now a good time to buy into stocks, or should I wait for another opportunity?
I believe the safest approach is to diversify investments. By allocating funds across various asset classes such as bonds, real estate, and international stocks, you can minimize the risk of a market downturn.
Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $275K to $850K, despite inflation.
This is definitely worth considering! Do you have any recommendations for professionals or advisors I could speak with? I really need help with proper portfolio allocation.
The advisor am currently working with is Teresa L. Athas. I came across her in a Bloomberg interview for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up
excellent share! Just look up her name and saw her profile and accreditations, someone with great experience i must say. Thanks for sharing with us! I was able to set up appointment with her.
These spreadsheet exercises are ok to get the idea of a concept. In reality, I found it tougher, but achievable. I never saw these consistent 7% returns. You do the best you can, but it rarely works that way. The first million was a grind and took a lifetime. Then 1 turned into 5 relatively quickly. There are some keys to follow: 1. Live below your means and save everything else, 2. Invest conservatively for the long term. Just don't lose money. Most people buy high and sell low all while chasing big returns. Better to make 4% every single year than 7% followed by -50%. 3. Work on your income. The average salary just won't cut it. You have to focus on finding ways to make more, and save everything over your basic needs. This is where it really grows. If you need 80k to live, then a 120k income will not cut it. But if you start making more than you need and save all the extra, then you'll get there. Now if you start to make, 200, 250,350 or 500, those savings over that 80k will start to add up. Convince yourself you are worth more and it will come to you like metal to a magnet.
7% is not meant to be a consistent number. The idea of investing long term is that you are willing to deal with the volatility of the market in both upswings and downturns. For example, this year has been one of the best years for the S&P in a very long time (something like 30 years). So my investments are up roughly 30% across the board this year. If you are constantly trying to time the market, you are not investing for long term profitability but instead trading on volatility. Instead, you should be: 1. Dollar cost averaging so that you have more exposure for the upswings but also getting better entry points on downturns. 2. Routinely rebalancing your portfolio based on your investment strategy and risk tolerance. Say you buy 3 indexes with a 25/30/45 split. If the 45% of your portfolio grows a lot to where its now 55% of your portfolio, you are likely outside of your risk threshold and should sell some and put the gains into the other indexes that are lagging behind. This again allows for better entry points on some as well as being able to reap the gains of those that outperformed. This applies to stocks and other assets, not just index investing. 3. I do agree living below your means is generally good advice. Living right at your means would mean paycheck to paycheck and you are at risk of life altering events throwing it out of whack. Living even slightly below your means would equate to having a safety net, being able to save for kids or a down payment, or a vacation that you can take guilt free after other duties are taken care of.
@@ryanrodriguez5293 I'd hit #3 hard. Look at Warren Buffet. Same lifestyle he had before he made his first $B. It works. Median net worth in America is abysmal. Most retire unable to maintain their lifestyle.
Much of it has to do with the economy & market timing. My experience has been similar to the video. First 100k was a grind, but things picked up after that. However, virtually all asset classes are bloated now, so future market returns will be slim for the next several years. I'm not sure it's particularly helpful to suggest that one has to make six figures for things to workout. Reminds me of one of those TikTok "financial influencers" who suggested that if people want more money, then they should just earn more. haha As if people have been picking the jobs that pay them less. A person making 500k is already in the top 1% of wage earners; I doubt they're concerned about money. They probably hire a financial advisor to manage it for them, so they can stay focused on their career. And, you shouldn't have to be in the top 1% (or the top 10%) to be a successful investor. I never earned six figures in the labor market, yet I was able to retire at age 36. A high paying career may be nice, but it isn't a prerequisite.
The biggest hurdle in investing is mental, I bought $10k Nvidia at $4 (post-split price) like 5 years ago and sold at a decent profit at like 25% shortly after, imagine if I held that for 5 years instead (I had no reason to sell more than trying to find a "better" investment).
Absolutely, I put $2K in Nvidia at .44 cents adjusted in 2008 right around the finical crisis simply because I was a PC gamer and liked their GPUs. I watched it go to $600 a few months later. It a year later came back up to be worth a $1000 and stayed sideways until 2011 at which point I almost sold it for a 25% gain. My limit order never was reached, but came with in a few cents of executing. After it dropped back down to being below my cost at around $1500 and I felt like a greedy idiot. It stayed there until 2015 when it started moving again. However this time I did nothing I ignored it and long story short I've been on the Nvidia rollercoaster for 16 years now and have not sold a single share.
Individual stocks are mostly gambling. The closest thing to a sure thing in the market is diversified ETFs that are tied to the S&P. 8% year-over-year may not be as sexy as the 35x gains you could have made by picking the right small cap stock at the right time, but it's a much more repeatable strategy that allows you to build a sustainable life around it.
I got to 100K fairly easily...I feel like since I got there its been one thing or another and the amount I usually save at the end of the month is smaller and smaller. Yes I'm still getting interest on the 100k but my savings is not growing nearly as much as it was before when I could put away 4-5k a month. Life has been hitting hard lately.
I've averaged around a 20% return over the last 12 years which means I have more than 10x what I had in 2012. It is really crazy how things add up when you figure in compounding. This is even not counting dividends, if I had reinvested them the returns would have been even greater.
@@iamarobot8808 I'm up 42700% (not a typo) over the 25 years I have owned the stock too! Was up even more but it's gone down a little over the last couple of weeks though I expect to hit at least 15% over the next year based on current predictions.
I was a able to hit my fist 100k from 0 in about 5 years which according to this video is better than expected, I could have done it earlier but I was not as disciplined in the process as I am now. I still don't feel the snowball effect everyone talks about but I hope to notice it soon. My best advice would be, automate investing a fixed amount regularly (weekly, monthly, quarterly, etc.) so its out of your mind and soon enough you'll get there.
Compounding and snowballs work the same for £100, £1000 and £1,000,000,000 - the reason it’s 100k is because of what that means to your overall needed life savings goal and what that money means in real terms for your quality of life.
Purchasing stocks may appear simple, but selecting the proper stock without a tried-and-true strategy may be challenging. I have been trying to increase my $310,000 portfolio for a long time, but the biggest barrier is that I don't have a clear entrance and exit plan. Any advice on this matter would be greatly valued.
The methods are challenging for the average person. They are typically carried out successfully by experts with a high level of ability and expertise in such trades.
Some individuals minimize the importance of counsel until they make regrettable mistakes. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
'Laurelyn Gross Pohlmeier' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
As a math nerd, I have to disagree about the use of "mathematical inflexion point". An inflexion point is a point where the curvature's sign changes (e.g. from concave to convex). This is not the case here. This 100k threshold is arbitrary.
I got my first 100k in my 20s but the next few 100k didn't take as long. The exponential growth is insane. My advice, don't panic when the market is down. See it as a buying opportunity but be sure to keep cash available to take advantage. I used to trade a lot from 2019 through the early years of COVID but I found it stressful. I found passive investing to be best but do have about 10% of my portfolio dedicated to long term investments, think 5-10+ years. Short term trading is off the table.
Not everyone has $850 a month to save. Though I do agree whole heartedly the math is correct. It took me close to 10 years to save up 100K, and now I find it less difficult to make my next 50K.
I don't understand. I thought net worth is the value of everything you have minus what you owe. This sounds like 100k in an investment account. Is that not different?
Yes. Even stocks are not net worth until you sell it. The assumption net worth is what you assume is sold at that day to figure that out. If the market fizzles to zero. Then your assumption net worth is 0. 😂
@@kito1sanYou couldn’t be more wrong if you tried. Stocks are definitely part of your net worth because they still hold some sort of value based on what other investors are willing to pay for it.
It's really a million or even better two million for a skyrocketing net worth. I get way one focuses on 100K as that is more realistically attainable then a million or two. Once your net worth increases by double your annual salary in a single year is what I think of as a skyrocket.
I have over 100k $, but I don't feel this skyrocket yet, although recently I have impression of being in some "unsteady state", so maybe something will change soon...
You have to be in the right positions and get a return. Try REITs since rates are high, the REITs are lower but pay monthly dividends. Put them on drip
From my perspective, this underscores the need for a strong competitive edge as an investor. Simply mimicking the strategies of others isn't enough to achieve exceptional returns. I'm currently weighing the decision to invest in today's market, which offers both risks and opportunities. I’d love to hear your thoughts on navigating this environment.
Under the 7% column, it would take 28.8 years of investing 10k per year from 0 to 1 mil. You need discipline and a job that would allow you to save/invest 10k per year. It’s doable but you really have to be disciplined to keep saving and determined to upskill and get a job that would allow you to save 10k annually.
After seeing this i might need to rearrange my acorns account proud to say my work 401k is nearly 80k soo should be good the next few years 😊 Thanks for this advice much appreciated
@TheRealCatof then that means lunch was $1.25 before... not kidding, I used to go to supermarket and $70 can buy me a lot of things, like for 1.5 weeks... now I may get 3 small / medium items and it is like $18
The principle is not based on time but based on the yearly return and the amount you can save per year. The fact 100k now is not the same as 100k 50 years ago is a whole different matter
@ 112k ---w 4000 shares of SCHD--which pays 1000 or more per Q I sold a paid off car( 20k) valuable Pokemon ( 10k) & used the FIRE early retirement philosophy to put 85% of income into investments---buying only basic necessities. But,my biggest ace is my fiance is a wizard gold expert from Morgan Stanley NY.... when we join she will make 6 figures into 7 figures. She can make 7K in 30 seconds on gold options buy downs!!! Needless to say I'm extremely excited to give her both my portfolios!
This assumes the breakneck 10%+ per year will continue in perpetuity. Gold Mansachs earlier this month published that they estimate a 3%/year average return over the next decade. Of course, I personally think the fed will lose the battle with inflation and we will have much higher returns than those estimates.
You need that quote adjusted with inflation. Also 100k cash, not net worth. People have 700k mortgage on a 1.8 mil house but don't have a single penny saved up.
700k on a 1.8M house would still mean a 1.1M net worth which is good. But it’s going to depend on income, they better be making 600k or more. The 1.8M house is gonna cost a lot to maintain (property tax, roof costing 30k, pool requiring cleaning etc). I know what you are trying to say about the net worth but when they retire and downsize they can sell the (by then) $2.5M house and get a $500k one and have $2M to spend on retirement
@@dailyrant4068 Yeah. My point is that Net worth is not what you should be looking at. You should be looking at what you keep. People bought houses 10 years ago and today have over a million in the house but $0 in the bank account saved. While some people are still renting and living below their means and have a million dollar cash that generates income. While there are lot of other scenarios of house ownership that I would still consider. Such as rental investment etc. But of you live in the house without any rental income then it is just a liability.
@@dailyrant4068 Yes. But your hypothetical for retirement depends on the couple saving money and never having to depend on debt for any emergencies. I had a client that started with 300k mortgage on a 500k house 18 years ago. Now on the same house had a 970k mortgage and the house is worth 1.5 million. Client never learned to put money away while making good income when mortgage was low. What could had been different? Client could had chosen to cut cost and save up 100k as a buffer to keep with life challenges and focused on paying off the mortgage when it was 300k but everytime they refinanced they chose to upgrade the house or rack up credit card debts. Saving the 100k cash is more than just having the money, it is creating a discipline.
7:00 - FACTS. I entered the crypto markets in 2016. Best decision I ever made. Now with the money i make in Cryptocurrencies I'm able to diversify and buy precious metals/stocks. Its all about seizing that opportunity that comes in your life. I have a high risk tolerance so diving deep into Crypto as a noob was okay. And oh let me tell you.. a lot of the investing rules i live by today were WRITTEN IN MY OWN BLOOD. GOOD LUCK out there kings and queens. That first six fig milstone is hard but she's right. Making money accelerates when u got a lot of house money to play with and ofc ur smart about your investments.
I’m having the opposite effect. I turned 20K into 100k in four months. That was six years ago. I’ve only been able to accumulate another $100,000 in that six years. Not bad, of course, but I need that snowball to start rolling…
For the annual contribution column in your model, it's not quite fair to that investment strategy to only have it compound annually. If I use your model, but instead compound monthly in both cases, the $10k at the beginning of the year ends up getting me to $100k in 6 years instead of 6.5 years.
I think there's something to be said about being, "emergency proof" as well. If you have 10k in an IRA growing yoy at 10%, at the end of the year, you'd have an extra 1k. If you have 100k at the same rate, you'd make 10k. If I had an absolute emergency and I needed to pull some money out of my IRA, there are very few emergencies for average people with average income that cost in excess of 10k. If your car caught on fire, you could probably find a new vehicle to get to and from work for 6k-8k. Particularly if you don't own a home. So having that kind of money in the bank basically means that only really big problems can knock you off your feet. Once you have 200k, you could effectively lose your job and survive it assuming you picked up a small part time job and live in a modest apartment.
I don't understand why financial people call it compounding. It's just the rate of return. It's not interest, and nothing is being compounded. That is just how we calculate the return.
You could open a taxable brokerage account or IRA / Roth IRA at Vanguard (that's what I use). You transfer some money over from your bank, then you buy the Vanguard s&p 500 ETF (symbol = VOO), amongst some other top performing Vanguard funds that you could google. That is an index fund and then periodically like every paycheck or month set up automatic transfer to the account. If it's IRA make sure you understand tax rules and contribution limits.
When we are talking about $100K total investment to date, does that mean all the investment from an HSA, ROTH IRA (or traditional) and taxable accounts? Not all investors pour their money on an S&P 500. Some have S&P and individual stocks, mutual funds, and/or ETFs.
What are you talking about? SP500 being referenced is always talking about funds. Whether you hold it in 401k or IRA vs taxable is the same thing. The difference in tax is more of a tax strategy question. There are plenty of other videos that talk about the priority. Usually for higher income you would rank high % debt as number one to tackle. Even if you make 15% return on investment but have a 25% APR credit card debt it doesn’t help you. After that it’s the “free money” things like 401k match from employer, then ESPP (guaranteed profit), then it’s things like HSA and Roth for maximizing tax free growth
@@dailyrant4068 STFU! You did not explain well nor did you understand my question. My first question was an close ended-question. The answer was a yes or no. And you gave 2 full paragraphs that was not necessary. Next!
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne’” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
1:35 the time the market advice in the google result...it is not wrong for short term, but for long term investing dollar cost average and you will get the long term average result by definition.
For anyone doing the math, thats $25,000 going to the government, now mostly interest on debt. Think of how much quicker this works out without their incompetence! Bet your social security won't yeild the same results.. #taxationistheft
Even if it crashes it’ll come back. The assumption of buying into the overall economy makes sense. If WW3 happens and we all get nuked then it’s over anyway. There is no realistic case outside of WW3 or some type of world annihilation scenario where the U.S. economy would completely tank and not recover
After 100k living below your means is key to getting to 1 million. Then leverage the principle and live off the interest. Do not touch the principle in fact add to it.
You can keep them separate. I would only consider combining if one portfolio is outgrowing the others consistently. You also should keep an eye on fees.
Where do you get 7% interest or return, surely not in the bank. Also, with shares you would have bought them at a very low price to get 7% dividends. A 5% interest or dividend return looks more reasonable in todays financial state.
My life changed too when I started doing this and putting money in stocks. The first few years it as really great, but this year I haven't felt like my portfolio is doing well. I have lost more than $40,000 from my portfolio the past four months, and it's now very worrisome.
The year has been really rough for everybody. But I've been able to cushion the effect though. Have you thought of using an investment advisor? They can make you good money especially during uncertain times like this.
Yes, I agree. I use a financial advisor too. Same person since 2020. I don't worry about whether the economy is going up or down or sideways. I always ride through.
The way I see it is this: how much money do you think you'll need every month TODAY to retire? Assuming I have no mortgage or other large expenses, I could easily live comfortably on $2000/month with lots of extra. So I aim to put away that much every month TODAY in investments. If you can't do that, it is something to work towards by improving your earnings, cutting today's expenses, and living frugally/minimally. Aim for a high savings rate and consistently invest in a boring but effective portfolio of a few ETFs and you are probably going to have way more money than you'll ever need.
Wow - I’m sorta well paid in the UK (50k) and I can save maybe 10k a year after mortgage and bills. And I live like a monk. You’re lucky, enjoy being rich.
There are literally like 500 of these "First 100K hard" "Why net worth skyrockets after 100k" videos on RUclips with basically the exact same thumbnails. Can't creators come up with something new?
0:50 I’m sorry, what do you think the tooth fairy does??? The tooth fairy should never be putting TEETH under people’s pillows. That’s not how that works, lol.
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
Use the brrr strategy. It made us millions in real estate because our tenants paid rent and houses have been going up in value in San Jose, Honolulu, Merced. We bought during a downturn and kept the houses as rentals and the rental market is hot because people need shelter, and there is a limited supply.
The great thing about this is that math is currently neutral. If the number 100,000 is magic, it just IS, mathematically. So... move all of your money into Vietnamese Dong. Currently it will take you only US$3.96 to get there. BOOM! You now have 100,000 of a currency, and, again, MATH doesn't know nor does it care about currency: 100,000 is 100,000. The math either works or it doesn't. Let's just see.
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Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $650K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
I always consult a financial advisor before investing. During the pandemic, I used their strategies to minimize risks and maximize profits, generating around $883k in three years with my advisor
Before making an investment, I always get advice from a financial counsellor. I employed their tactics to reduce risks and increase income throughout the epidemic, working with my advisor to generate about $883k in three years.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you.
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
So far I'm doing good, approaching retirement with about 800k in savings. Transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?
in my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor
Agreed, the role of advisors can only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
sounds great! i've never utilized a financial advisor but enthused about making money from the stock market, could you be kind enough with info of the advisor guiding you please? I could really use some guidance
excellent share, just confirmed her page online after inputting her full name on my browser, she seems valid. very much appreciate it.
As an investing enthusiast, I often wonder how top-level investors become millionaires through investing. Buying assets may seem straightforward, but choosing the right stock without a tested plan can be challenging. I've been attempting for some time to increase the size of my $210K portfolio, but the largest obstacle is the absence of clear entry and exit plans. Any guidance in this regard would be much valued.
I'd suggest you discuss with a proper advisor, particularly if you're new at investing or facing uncertainty. I personally have over 180 companies in my portfolio, so if few companies fail, I still have others that can hold me up.
Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $175K to $650K, despite inflation.
This is definitely worth considering! Do you have any recommendations for professionals or advisors I could speak with? I really need help with proper portfolio allocation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up.
Thanks for sharing. i searched her full name and found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
Investments are the roots of financial security; the deeper they grow, the stronger your future will be."
The deeper your investment roots, the stronger your financial security will be in the future.
Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.
I would love an introduction to an adviser who can help me strengthen my financial roots.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
Thank you for this amazing tip. I just looked the name up and wrote her.
Putting money into mutual funds provides a systematic and varied method for growing wealth, overseen by experienced fund managers. Although there are expenses and certain restrictions, the advantages of diversification, professional oversight, and easy accessibility contribute to the popularity of mutual funds in reaching different financial objectives.
VWINX and FSPGX are all still good buy, but what do I know I’m not a financial advisor lol
Exactly, I used to doubt the value of a financial advisor until my wife's company assigned her an investment adviser in 2020. Honestly, it’s been the best financial decision I’ve made. It helped tremendously; I went from barely making any profit to having a well-diversified portfolio that has grown significantly, with gains exceeding $850k.
I’ve been worried sick about the current state of my portfolio, who is your advisor?
I have Karen Marie Gendron as my financial adviser. She has a solid reputation when it comes to diversifying portfolios and making. Them less vulnerable to market downturns. She may be a name you are already familiar with from Newsweek.
Just ran an online search on her name and came across her website, pretty well educated. thank you for sharing.
Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.
Let's face it... buying more stocks & index funds during stock market corrections and bear markets is scary. Which makes it really hard to do for most people like me. I have 260k i want to transfer into an s&p but its hard to bite the bullet and do it.
The truth is that 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. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
@@MemoryKasu Stacy Lynn is a scammer
Basically, the first step is always hard. Money makes more money. Rich people get richer every day.
Just passed the 40k mark invested! I’m going for it! 100k here we come!
You got this!!!
I feel it skyrockets after $300k. I just got here, and now my 401k grows more per year than what I put in (which is the max)
How old are you? Don't want to get stuck paying more in taxes in retirement than you currently pay in tax now.
I put most of mine in a brokerage account and just about 10k in a 401k and max out the Roth IRA since I'm only 31. May have to do backdoor Roth next year as I'm getting close to the income limit.
I think the first million is hardest.
Yeah I feel it’s different for everyone, as it’ll appear to be “skyrocketing” when it is making more than that person is putting in. Compounding works the same at $1,000 as it does at $100,000
@@smokeysify No way, I think the first billion is the hardest
Just a little advice: not a good idea to post your net worth online.
Your videos have been truly impressive! As one of your regular viewers, I've been following your content closely for a while now. I'm very interested in making an investment, but I’m still having trouble identifying the right opportunity to fully commit to. I would greatly appreciate any guidance or suggestions you might have in this area.
As a beginner investor, having a mentor to hold you accountable is crucial. Personally, I’m guided by Gregory Leo Cattel, a well-known crypto consultant. While I can't share much about him, I recommend searching his name online to find the details you need to schedule an appointment.
I started working with Coach Gregory Leo Cattel back in August, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
Gregory Leo Cattel success can be attributed to his unwavering dedication to setting realistic goals, expertly navigating clients through complex financial landscapes while avoiding the pitfalls of unrealistic expectations.>
I just Googled his name and his website came up right away. It looks interesting so far. I sent him an email and i hope he responds soon.
Basically, attaining 100k means you had the discipline, foresight and desire to set a goal and work toward it. It’s a proof of concept: like a cook who is asked to cook a meal as a job interview. Being able to create 100k is the blueprint for making one million or more. It’s the same path with bigger stakes.
Exactly!!
I'm 24, and I'm trying to make this choice. I could continue saving as hard as I can and become a millionnaire by the time I'm 50. But my question is, what for? I only have one life, and I don't know if I should wait another 25 odd years before being able to buy anything and give a huge help to my futur kids, or spend more now, enjoy life now without being able to buy anything I want. Maybe I could give myself a shorter goal like 30.
@@mrleonmoff6523what you need to do is plant the retirement seed while you are young. At the S&P 500 historic annual returns, your accounts value will double every 7 years or so just due to compound growth. If you put $10k in a retirement account one time invested in the s&p 500, it could double six times in 42 years resulting in about $640k. Imagine not only that but contributing all the time and then seeing the final result. You could always plan to save and invest hard for a couple years to plant the seed, then lay off the gas and enjoy life. Better than starting the saving and investing too late and growth is stunted
@@mrleonmoff6523 I've lived a minimalist lifestyle and was able to retire at 36. I don't regret it. Here's something to consider: you can goof off in your twenties and earlier thirties and spend the rest of your life working. Or you can work, save, and invest in your twenties and early thirties, and never have to work again! Unless you plan to die by age 50, then the choice seems pretty obvious to me.
@gordongekko2781 retiring at 36 seems good to me, but how much do you need for that?
Since this comment, I've given myself the Objectif to save up 300 000€ (I'm french) by the time I'm 35. That's saving 30 000€/per year, which is not really possible. So I have to do big investments in property and work really hard. But 300 000€, is not enough to retire. I could keep going for another 20 years and probably bring that up to 1,5 or 2 mil by the time I'm 50, but I would have spent 30 years making huge sacrifices. I'm not sure it's worth it.
Munger said that in the mid-1990s. WIth inflation, the $100K he mentioned back then is more like $200K+ today.
Doesn't matter, compounding stays the same
More like $160,000.
Yep usinflationcalculator says in 1995, $100,000 = $206,890.42 today. Just 5 years prior, in 1990, it would've been worth $241,240.42. No time like the present to buy gold, friends!
@@UziGameGPRight?! The math stays the same. You just have less purchasing power today.
it's $500,000 or even $1M today, don't only count the inflation, the riches are getting much richer today.
Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as the EV sector, renewable energy, Tech, and Health. 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
If you don’t understand the markets, stick to an index like the S&P 500. Dollar cost average and hold long term, or better still consider financial advisory to avoid losses
Sometimes I'm surprised most people don't even know they can do that. I've been making at least 200k every year from my investments by working with an FA. When you realise it, it feels like a life hack.
Wow, that's interesting . I've recently been exploring the option of working with an FA too. Any chance you could recommend who you work with? in her area and works for Empower Financial
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a geniusl Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
As an investing enthusiast, I often wonder how top-level investors become millionaires through investing. I have over $545K in equity from a home sale and I'm unsure what to do next. Is now a good time to buy into stocks, or should I wait for another opportunity?
I believe the safest approach is to diversify investments. By allocating funds across various asset classes such as bonds, real estate, and international stocks, you can minimize the risk of a market downturn.
Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $275K to $850K, despite inflation.
This is definitely worth considering! Do you have any recommendations for professionals or advisors I could speak with? I really need help with proper portfolio allocation.
The advisor am currently working with is Teresa L. Athas. I came across her in a Bloomberg interview for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up
excellent share! Just look up her name and saw her profile and accreditations, someone with great experience i must say. Thanks for sharing with us! I was able to set up appointment with her.
These spreadsheet exercises are ok to get the idea of a concept. In reality, I found it tougher, but achievable.
I never saw these consistent 7% returns. You do the best you can, but it rarely works that way. The first million was a grind and took a lifetime. Then 1 turned into 5 relatively quickly. There are some keys to follow:
1. Live below your means and save everything else,
2. Invest conservatively for the long term. Just don't lose money. Most people buy high and sell low all while chasing big returns. Better to make 4% every single year than 7% followed by -50%.
3. Work on your income. The average salary just won't cut it. You have to focus on finding ways to make more, and save everything over your basic needs. This is where it really grows. If you need 80k to live, then a 120k income will not cut it. But if you start making more than you need and save all the extra, then you'll get there. Now if you start to make, 200, 250,350 or 500, those savings over that 80k will start to add up. Convince yourself you are worth more and it will come to you like metal to a magnet.
7% is not meant to be a consistent number. The idea of investing long term is that you are willing to deal with the volatility of the market in both upswings and downturns. For example, this year has been one of the best years for the S&P in a very long time (something like 30 years). So my investments are up roughly 30% across the board this year. If you are constantly trying to time the market, you are not investing for long term profitability but instead trading on volatility. Instead, you should be:
1. Dollar cost averaging so that you have more exposure for the upswings but also getting better entry points on downturns.
2. Routinely rebalancing your portfolio based on your investment strategy and risk tolerance. Say you buy 3 indexes with a 25/30/45 split. If the 45% of your portfolio grows a lot to where its now 55% of your portfolio, you are likely outside of your risk threshold and should sell some and put the gains into the other indexes that are lagging behind. This again allows for better entry points on some as well as being able to reap the gains of those that outperformed. This applies to stocks and other assets, not just index investing.
3. I do agree living below your means is generally good advice. Living right at your means would mean paycheck to paycheck and you are at risk of life altering events throwing it out of whack. Living even slightly below your means would equate to having a safety net, being able to save for kids or a down payment, or a vacation that you can take guilt free after other duties are taken care of.
@@ryanrodriguez5293 I'd hit #3 hard. Look at Warren Buffet. Same lifestyle he had before he made his first $B. It works. Median net worth in America is abysmal. Most retire unable to maintain their lifestyle.
Much of it has to do with the economy & market timing. My experience has been similar to the video. First 100k was a grind, but things picked up after that. However, virtually all asset classes are bloated now, so future market returns will be slim for the next several years.
I'm not sure it's particularly helpful to suggest that one has to make six figures for things to workout. Reminds me of one of those TikTok "financial influencers" who suggested that if people want more money, then they should just earn more. haha As if people have been picking the jobs that pay them less.
A person making 500k is already in the top 1% of wage earners; I doubt they're concerned about money. They probably hire a financial advisor to manage it for them, so they can stay focused on their career. And, you shouldn't have to be in the top 1% (or the top 10%) to be a successful investor. I never earned six figures in the labor market, yet I was able to retire at age 36. A high paying career may be nice, but it isn't a prerequisite.
The biggest hurdle in investing is mental, I bought $10k Nvidia at $4 (post-split price) like 5 years ago and sold at a decent profit at like 25% shortly after, imagine if I held that for 5 years instead (I had no reason to sell more than trying to find a "better" investment).
Absolutely, I put $2K in Nvidia at .44 cents adjusted in 2008 right around the finical crisis simply because I was a PC gamer and liked their GPUs. I watched it go to $600 a few months later. It a year later came back up to be worth a $1000 and stayed sideways until 2011 at which point I almost sold it for a 25% gain. My limit order never was reached, but came with in a few cents of executing. After it dropped back down to being below my cost at around $1500 and I felt like a greedy idiot. It stayed there until 2015 when it started moving again. However this time I did nothing I ignored it and long story short I've been on the Nvidia rollercoaster for 16 years now and have not sold a single share.
Individual stocks are mostly gambling. The closest thing to a sure thing in the market is diversified ETFs that are tied to the S&P. 8% year-over-year may not be as sexy as the 35x gains you could have made by picking the right small cap stock at the right time, but it's a much more repeatable strategy that allows you to build a sustainable life around it.
The slope of the line does not magically change at $100,000. It was always changing, this is exponential growth.
thanks for sharing!
I got to 100K fairly easily...I feel like since I got there its been one thing or another and the amount I usually save at the end of the month is smaller and smaller. Yes I'm still getting interest on the 100k but my savings is not growing nearly as much as it was before when I could put away 4-5k a month. Life has been hitting hard lately.
Thanks for commenting, 4-5/mo is great!
I've averaged around a 20% return over the last 12 years which means I have more than 10x what I had in 2012. It is really crazy how things add up when you figure in compounding. This is even not counting dividends, if I had reinvested them the returns would have been even greater.
Wow! 20% annual return for 12 years!? That's a lot
👏 Congratulations :)
@@iamarobot8808 I'm up 42700% (not a typo) over the 25 years I have owned the stock too! Was up even more but it's gone down a little over the last couple of weeks though I expect to hit at least 15% over the next year based on current predictions.
I was a able to hit my fist 100k from 0 in about 5 years which according to this video is better than expected, I could have done it earlier but I was not as disciplined in the process as I am now. I still don't feel the snowball effect everyone talks about but I hope to notice it soon.
My best advice would be, automate investing a fixed amount regularly (weekly, monthly, quarterly, etc.) so its out of your mind and soon enough you'll get there.
Hat age did you start and how much did you auto invest every month back then?
Great tips!
Compounding and snowballs work the same for £100, £1000 and £1,000,000,000 - the reason it’s 100k is because of what that means to your overall needed life savings goal and what that money means in real terms for your quality of life.
Yes thanks for the comment!
Purchasing stocks may appear simple, but selecting the proper stock without a tried-and-true strategy may be challenging. I have been trying to increase my $310,000 portfolio for a long time, but the biggest barrier is that I don't have a clear entrance and exit plan. Any advice on this matter would be greatly valued.
The methods are challenging for the average person. They are typically carried out successfully by experts with a high level of ability and expertise in such trades.
Some individuals minimize the importance of counsel until they make regrettable mistakes. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
That makes perfect sense because you seem to know the market better than we do. Who is the mentor?
'Laurelyn Gross Pohlmeier' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She seems to be a well-read and intellectual woman. I found her website when searching for her online; I appreciate you sharing.
As a math nerd, I have to disagree about the use of "mathematical inflexion point". An inflexion point is a point where the curvature's sign changes (e.g. from concave to convex). This is not the case here. This 100k threshold is arbitrary.
Nice on the concave to convex! You must be great at math!
I got my first 100k in my 20s but the next few 100k didn't take as long. The exponential growth is insane. My advice, don't panic when the market is down. See it as a buying opportunity but be sure to keep cash available to take advantage. I used to trade a lot from 2019 through the early years of COVID but I found it stressful. I found passive investing to be best but do have about 10% of my portfolio dedicated to long term investments, think 5-10+ years. Short term trading is off the table.
Aggressive investments is needed and consistent investing.
Exactly!
Not everyone has $850 a month to save. Though I do agree whole heartedly the math is correct. It took me close to 10 years to save up 100K, and now I find it less difficult to make my next 50K.
Thanks for watching, best of luck on your next 50k!
This assumes you already have set aside a emergency fund. Because you can’t just contribute every dollar to your stock portfolio since day one.
Thanks for the comment :)
I don't understand. I thought net worth is the value of everything you have minus what you owe. This sounds like 100k in an investment account. Is that not different?
Yes. Even stocks are not net worth until you sell it. The assumption net worth is what you assume is sold at that day to figure that out. If the market fizzles to zero. Then your assumption net worth is 0. 😂
You are correct. It’s worded wrong. It’s 100k you can set aside to invest.
You're right. It's a stupid title. You have to invest 100k not just take a look at networth. My net worth is 100k but I only have 23k invested so far
100000 shares is king in the right equity
@@kito1sanYou couldn’t be more wrong if you tried. Stocks are definitely part of your net worth because they still hold some sort of value based on what other investors are willing to pay for it.
Thank you, Alice. Subscribed and liked, great wisdom! I hope young people will learn a valuable life hack from this video.
Welcome!
It's really a million or even better two million for a skyrocketing net worth. I get way one focuses on 100K as that is more realistically attainable then a million or two. Once your net worth increases by double your annual salary in a single year is what I think of as a skyrocket.
thanks for sharing!
I have over 100k $, but I don't feel this skyrocket yet, although recently I have impression of being in some "unsteady state", so maybe something will change soon...
Best of luck!
You have to be in the right positions and get a return. Try REITs since rates are high, the REITs are lower but pay monthly dividends. Put them on drip
You are gorgeous inside and out, what a great video helping people
❤ made my day
From my perspective, this underscores the need for a strong competitive edge as an investor. Simply mimicking the strategies of others isn't enough to achieve exceptional returns. I'm currently weighing the decision to invest in today's market, which offers both risks and opportunities. I’d love to hear your thoughts on navigating this environment.
Under the 7% column, it would take 28.8 years of investing 10k per year from 0 to 1 mil. You need discipline and a job that would allow you to save/invest 10k per year. It’s doable but you really have to be disciplined to keep saving and determined to upskill and get a job that would allow you to save 10k annually.
After seeing this i might need to rearrange my acorns account proud to say my work 401k is nearly 80k soo should be good the next few years 😊
Thanks for this advice much appreciated
thanks for the comment & sharing!
Could it be more than $100k now? Lunch was $3.5 in 1991 and about $5 in 2000, $8.95 in 2013 and $18 in 2024... money is not the same as before
I read it is now about $175.000.
@TheRealCatof then that means lunch was $1.25 before... not kidding, I used to go to supermarket and $70 can buy me a lot of things, like for 1.5 weeks... now I may get 3 small / medium items and it is like $18
The number could be any amount and is closely tied to what you specifically need to live the life you want.
The principle is not based on time but based on the yearly return and the amount you can save per year.
The fact 100k now is not the same as 100k 50 years ago is a whole different matter
Ok. So $200k.
But as the video stated, it’s more psychological. It’s a mile stone.
@ 112k ---w 4000 shares of SCHD--which pays 1000 or more per Q
I sold a paid off car( 20k) valuable Pokemon ( 10k) & used the FIRE early retirement philosophy to put 85% of income into investments---buying only basic necessities.
But,my biggest ace is my fiance is a wizard gold expert from Morgan Stanley NY.... when we join she will make 6 figures into 7 figures.
She can make 7K in 30 seconds on gold options buy downs!!!
Needless to say I'm extremely excited to give her both my portfolios!
This assumes the breakneck 10%+ per year will continue in perpetuity. Gold Mansachs earlier this month published that they estimate a 3%/year average return over the next decade. Of course, I personally think the fed will lose the battle with inflation and we will have much higher returns than those estimates.
thank you for great insights, really great of you
Glad it was helpful!
Compounding at 10% annually is practical, but I would not say it is sky rocketing growth
thanks for the comment & sharing!
You need that quote adjusted with inflation. Also 100k cash, not net worth. People have 700k mortgage on a 1.8 mil house but don't have a single penny saved up.
700k on a 1.8M house would still mean a 1.1M net worth which is good. But it’s going to depend on income, they better be making 600k or more. The 1.8M house is gonna cost a lot to maintain (property tax, roof costing 30k, pool requiring cleaning etc).
I know what you are trying to say about the net worth but when they retire and downsize they can sell the (by then) $2.5M house and get a $500k one and have $2M to spend on retirement
@@dailyrant4068 Yeah. My point is that Net worth is not what you should be looking at. You should be looking at what you keep. People bought houses 10 years ago and today have over a million in the house but $0 in the bank account saved. While some people are still renting and living below their means and have a million dollar cash that generates income.
While there are lot of other scenarios of house ownership that I would still consider. Such as rental investment etc. But of you live in the house without any rental income then it is just a liability.
thanks for the comment & sharing!
@@dailyrant4068 Yes. But your hypothetical for retirement depends on the couple saving money and never having to depend on debt for any emergencies. I had a client that started with 300k mortgage on a 500k house 18 years ago. Now on the same house had a 970k mortgage and the house is worth 1.5 million. Client never learned to put money away while making good income when mortgage was low.
What could had been different? Client could had chosen to cut cost and save up 100k as a buffer to keep with life challenges and focused on paying off the mortgage when it was 300k but everytime they refinanced they chose to upgrade the house or rack up credit card debts.
Saving the 100k cash is more than just having the money, it is creating a discipline.
7:00 - FACTS. I entered the crypto markets in 2016. Best decision I ever made. Now with the money i make in Cryptocurrencies I'm able to diversify and buy precious metals/stocks. Its all about seizing that opportunity that comes in your life. I have a high risk tolerance so diving deep into Crypto as a noob was okay. And oh let me tell you.. a lot of the investing rules i live by today were WRITTEN IN MY OWN BLOOD.
GOOD LUCK out there kings and queens.
That first six fig milstone is hard but she's right. Making money accelerates when u got a lot of house money to play with and ofc ur smart about your investments.
I’m having the opposite effect. I turned 20K into 100k in four months. That was six years ago. I’ve only been able to accumulate another $100,000 in that six years. Not bad, of course, but I need that snowball to start rolling…
For the annual contribution column in your model, it's not quite fair to that investment strategy to only have it compound annually. If I use your model, but instead compound monthly in both cases, the $10k at the beginning of the year ends up getting me to $100k in 6 years instead of 6.5 years.
thanks for the comment!
I think there's something to be said about being, "emergency proof" as well. If you have 10k in an IRA growing yoy at 10%, at the end of the year, you'd have an extra 1k. If you have 100k at the same rate, you'd make 10k. If I had an absolute emergency and I needed to pull some money out of my IRA, there are very few emergencies for average people with average income that cost in excess of 10k. If your car caught on fire, you could probably find a new vehicle to get to and from work for 6k-8k. Particularly if you don't own a home. So having that kind of money in the bank basically means that only really big problems can knock you off your feet. Once you have 200k, you could effectively lose your job and survive it assuming you picked up a small part time job and live in a modest apartment.
thanks for the comment & sharing!
Is the investment meaning to be like a retirement account?
Thank you for this. It was SO informative and encouraging.
Thank you!
I don't understand why financial people call it compounding. It's just the rate of return. It's not interest, and nothing is being compounded. That is just how we calculate the return.
"We". Shut up clown
thanks for the comment!
@@AliceCeeCPA Curious if you have a rebuttal. I have noticed this for years and have never seen a cogent explanation
Do you have a video on how to put money in a S&P? I have no clue and need to figure this out
You could open a taxable brokerage account or IRA / Roth IRA at Vanguard (that's what I use). You transfer some money over from your bank, then you buy the Vanguard s&p 500 ETF (symbol = VOO), amongst some other top performing Vanguard funds that you could google. That is an index fund and then periodically like every paycheck or month set up automatic transfer to the account. If it's IRA make sure you understand tax rules and contribution limits.
I will make a step by step video in the future!
Straightforward video no bs. ❤
❤ thank you
When we are talking about $100K total investment to date, does that mean all the investment from an HSA, ROTH IRA (or traditional) and taxable accounts? Not all investors pour their money on an S&P 500. Some have S&P and individual stocks, mutual funds, and/or ETFs.
What are you talking about? SP500 being referenced is always talking about funds. Whether you hold it in 401k or IRA vs taxable is the same thing. The difference in tax is more of a tax strategy question. There are plenty of other videos that talk about the priority. Usually for higher income you would rank high % debt as number one to tackle. Even if you make 15% return on investment but have a 25% APR credit card debt it doesn’t help you. After that it’s the “free money” things like 401k match from employer, then ESPP (guaranteed profit), then it’s things like HSA and Roth for maximizing tax free growth
@@dailyrant4068 STFU! You did not explain well nor did you understand my question. My first question was an close ended-question. The answer was a yes or no. And you gave 2 full paragraphs that was not necessary. Next!
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne’” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
1:35 the time the market advice in the google result...it is not wrong for short term, but for long term investing dollar cost average and you will get the long term average result by definition.
thanks for the comment!
Thank you
keep up the good job.
Thank you :)
Great video, and the most beautiful CPA on RUclips.
Thanks for watching!
For anyone doing the math, thats $25,000 going to the government, now mostly interest on debt. Think of how much quicker this works out without their incompetence! Bet your social security won't yeild the same results.. #taxationistheft
this assumes the SP500 doesnt crash, its up 27% this year which comes at a risk if you buy now
market timing is very important
Even if it crashes it’ll come back. The assumption of buying into the overall economy makes sense.
If WW3 happens and we all get nuked then it’s over anyway. There is no realistic case outside of WW3 or some type of world annihilation scenario where the U.S. economy would completely tank and not recover
Thanks for the comment!
After 100k living below your means is key to getting to 1 million. Then leverage the principle and live off the interest. Do not touch the principle in fact add to it.
yes!
is this 100k all in one account, so if you have multiple retirement accounts, you should combine them?
One account
No you combine all accounts, the math is still the same regardless of how many accounts there are
You don’t need to combine them. Just keep in mind, when you’re factoring in your gains, you need to consider all your accounts as one portfolio.
You can keep them separate. I would only consider combining if one portfolio is outgrowing the others consistently. You also should keep an eye on fees.
Where do you get 7% interest or return, surely not in the bank. Also, with shares you would have bought them at a very low price to get 7% dividends. A 5% interest or dividend return looks more reasonable in todays financial state.
thanks for the comment & sharing!
My life changed too when I started doing this and putting money in stocks. The first few years it as really great, but this year I haven't felt like my portfolio is doing well. I have lost more than $40,000 from my portfolio the past four months, and it's now very worrisome.
The year has been really rough for everybody. But I've been able to cushion the effect though. Have you thought of using an investment advisor? They can make you good money especially during uncertain times like this.
Yes, I agree. I use a financial advisor too. Same person since 2020. I don't worry about whether the economy is going up or down or sideways. I always ride through.
Trust me I’m trying to get there
good luck!
Great video, and some good advice, thanks!
I have like $10K in the bank but have $130K in home equity so there’s that’s. Where’s my mili?
hrm.. strange.. soothing voice, sound advice, attractive.. Dont find many financial videos that are actually relaxing to watch xD
The way I see it is this: how much money do you think you'll need every month TODAY to retire? Assuming I have no mortgage or other large expenses, I could easily live comfortably on $2000/month with lots of extra. So I aim to put away that much every month TODAY in investments. If you can't do that, it is something to work towards by improving your earnings, cutting today's expenses, and living frugally/minimally. Aim for a high savings rate and consistently invest in a boring but effective portfolio of a few ETFs and you are probably going to have way more money than you'll ever need.
thanks for the comment & sharing!
With inflation how much would it needs to be now in 2024?
About $240,000.
@@mgallegos4708 That's too much.
nobody couldnt have told me this at 18 ? i wouldve been retired
Unfortunately due to inflation it's now 300k to get the same effect on your life that 100k once had .
thanks for the comment!
Great video
Thanks Mike
can you share this excel sheet with us
yes it's in the link up top in the description
I am 31 years old. I save about 60k a year. I reached my first 100k in about 2 years. it’s not very hard to save 100k. Just live below your means.
Wow - I’m sorta well paid in the UK (50k) and I can save maybe 10k a year after mortgage and bills. And I live like a monk. You’re lucky, enjoy being rich.
@@PaulB-q3dUS jobs pay much better, unfortunately. Same job pays 20-30% more in New York compared to London
Stunning advice. I never thought about it that way
Why is your thumbnail exactly the same as clear value tax?
Everyone is making the same video with the same thumbnail
7k to go
I do not NEED YOUR PRAISING SL BUT SHOW ME HOW TO GET THE INVESMENT🎉🎉AS I SAY I HAVE 400K
Did you reach your first 100k ?
Mega back door Roth 7 times is a million
thanks for the comment!
Correct title should be how net worth skyrockets 10 years after $100k if you keep investing consistently.
thanks for the comment!
so nice and valuable :)
ahh thank you :)
I'm at $300,000
Great job!
You don’t have inflation during 10 years?
thanks for the comment!
@ thanks for not answering 😂
There are literally like 500 of these "First 100K hard" "Why net worth skyrockets after 100k" videos on RUclips with basically the exact same thumbnails. Can't creators come up with something new?
It’s just like Hollywood, same shit over and over.
Totally agree with all these same bulls***
Don’t watch then. One reason is because Charlie monger has a famous quote about how hard and important investing your first 100k is.
Yup they repeat it because it gets views. All recycled information.
gotta up my video budget to make those mr. beast style videos 🤪
Unfortunately, 100k will only pay for a year and a half of tuition at an Ivy League school. You'll need at least 300k to get a BS degree there.
thanks for the comment & sharing!
Tooth fairies do not put teeth under your pillow ever. You have that entirely backwards.
Rare Fish will save me
0:50 I’m sorry, what do you think the tooth fairy does??? The tooth fairy should never be putting TEETH under people’s pillows. That’s not how that works, lol.
Context is key.
When you're young, you are correct.
When you are old, the prospect of new teeth becomes more enviable.
I caught that too😂
thanks for the comment & sharing!
Hmm I doubt it. I got to 100k and it feels like this isn't going to accelerate shit. Not in 2024 lol
thanks for the comment!
At 4:46 , that's like y=x^2 ❤❤ the more money you get, the more money you get ❤❤ the reason why rich becomes richer ❤❤
Great math!
Nowadays this the first 1 mill. 100k is no longer going to cut it. Replace this phrase with net worth skyrockets after first mill
That 100k compounds to get you to 1mill quicker.
Regardless of the buying power the rate of increas of 100k is always the same.
thanks for the comment & sharing!
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
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 email shortly.
What is this? There are two different videos by different people with more or less the same title and same thumbnail image.
thanks for the comment!
Crypto did it for me😂😎
The casino did it for me 😂😎
@@DefenestrateYourself 🤡🫵
is it easy?
or does it just feel less stressful ? LOL
thanks for the comment!
fund managers dont waste your time, just dump everything on sp500
thanks for the comment!
"Let me do the same content that 100000 others are doing on RUclips"
I mean she's has 70k views... it also helps that she's a CPA 🤷🏾♀️
thanks for the comment!
Use the brrr strategy. It made us millions in real estate because our tenants paid rent and houses have been going up in value in San Jose, Honolulu, Merced. We bought during a downturn and kept the houses as rentals and the rental market is hot because people need shelter, and there is a limited supply.
thanks for the comment!
Taxes...inflation not properly dealt with, here. Zzzzz....
thanks for the comment!
The great thing about this is that math is currently neutral. If the number 100,000 is magic, it just IS, mathematically.
So... move all of your money into Vietnamese Dong. Currently it will take you only US$3.96 to get there. BOOM! You now have 100,000 of a currency, and, again, MATH doesn't know nor does it care about currency: 100,000 is 100,000.
The math either works or it doesn't. Let's just see.
thanks for the comment!
Not true from 100k to 1M, much harder than from 1 to 100K. You could return to 50K if you are not prudent enough!
thanks for the comment!