I'm a teacher in the UK. Never made more than £35,000 in a year. It took me 14 years to get to £100,000. It is an absolute slog on a lower salary but, it is doable if you're disciplined. I should pass a million in the next 12 months.
Perfect timing JJ. I started workin in an Amazon warehouse 8 years ago today. The fidelity account is at $98,399 right now. On track to hit 100k by the end of the month.
From $10K to $25k that's the minimum range of profit return every week I think it's not a bad one for me, now I have enough to pay bills and take care of my family.
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.
Lauren Christine Campbell is the CFA I work with and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
The brutal truth about saving your first $100,000 is you gotta watch some random dude watch random videos of random people talk about saving money on RUclips on RUclips.
I'm feeling like a cheater, because I made like 120k out of my first 60k in only 4 month from july to december. That's 100% plus only because of good decisions in stocks and Trump being elected for president it seems. I must be the only person who thinks the second 100k will take way longer than the first 100k. But your numbers are encouraging...;-)
@@pompejiothat's amazing!! so proud of you. I am beginner in stocks and i know it's not as easy as copying, but do you have stock advice for me? Do you utilize bonds? Or stocks you found fruitful? ty ❤
Ours was 30 months for the 1st $100k, 25 months for the 2nd, 15 months for the 3rd. The 4th is tracking for about 15 or 16 months. This is in NZD not USD but similar principles apply - (0.60c USD = $1 NZD).
I'm still on my 10K hustle because I still didn't pay all my debt. By this rate, I'll get rid of my debt in May and have my 100k in 5 years! (I just got my first IT job at the age of 35!)
Do you have a student loan with an interest rate under 4%? If you do I’d make the minimum payments and invest your money instead. 2 reasons, 1 is because inflation will eat away at the value of that debt and make it easier to pay off in the future. The second is because you’ll get a better long term return investing it in the stock market, even if you were to do treasury bills you’d come out on top. If it is over 4%, yeah pay that off ASAP
It took me right about 10 years to save my first 100k after I first started saving when I was 30 years old. I wasn't making great money for half of that time so I could have maybe done it faster if I'd increased my income sooner and had the money invested better. It was a great day when I hit that milestone; there was a point in my life in my 20's and early 30's where I thought I would never have this much money saved, ever. Don't give up, keep at it.
Heck yes bro. Good job and advice. I’m 42 and only recently started saving seriously bc having three kids had me living paycheck to paycheck. Now one is in college and I have my house paid off and saving about $2,000/month. Trying to convince my coworkers to save while they’re young. Teaching my kids to put money in an IRA and high yield savings and not keeping all their money in their checking account like I did for 1/3 of my life because no one explained anything to me financially. Late start but I’m planning on 20 more years working and whatever I have at 62 is what I have.
Thank you, it's great to hear from people who started in their 30s (my current age). Feel like I missed out by not starting way earlier, but it's good to hear that it's still possible!
I was making only 40k for many years and from age 35 to 40 I worked overtime all year and saved up that much. I now need to find a high yield trustworthy checking or savings to put money into.
Don’t listen to the high cost of living people complaining too much. I’m in Southern California. It’s expensive to live here but my husband and I make so much more than we would living anywhere else. Lifestyle creep is still the biggest problem.
Yeah there is a huge dissonance online between people claiming that cost of living is too expensive, while there are shows like financial audit which show that the same people are spending all their money on "stuff". Oh also the guys saying you have to live with parents to "save money", but then not saving money.
You aren't wrong. I moved to NorCal because there was "cheaper" property but the cost of gas electric and groceries is overall more expensive. Let's not talk about insurance, since we are in a fire zone it's 3x.
Rent or mortgage in SoCal or NorCal is objectively 3-5x what it is for the exact same thing in nearly all other major US cities, except NYC, maybe 1-2 others. The approx 25% salary increase I would get for "livingf living adjustment" wouldn't even begin to cover the fact that rents + housing prices are all minimum 300% higher than the last 4 cities I've lived in all over the US. Believe me, I've mathed it out. And that's before we mention the most insane taxes and prices on everything in CA. F That Noise 😂😂😂
I completely agree. The first $100k was the toughest, and I didn't really start seriously investing until I was 30 back in 1998. Today, I'm 55 and have a decent $1.2M nest egg thanks to my fa Abigail Ann Ryan. After learning all of this, my only regret is not starting earlier when I was 25. It may not seem like much but those extra 5 years are the most important.
If its in a Bank then I hope your Bank has High Yield Savings of 3.8%-4.5% because you should be earning around $330-$375 a month from it but of course Banks is to park your money until you figure out how to flip or invest before it starts losing its value again in a few years
and at least put it into a high yield savings account/money market, I would like to put more into my HYSA but i'm scared a bill is gonna shoot me in D arse out of nowhere lol
i started when i was 33. first i had to pay off my last debt and with 34 i was ready to save up. Now i am 35 and already 1/3 on the way. it works quite well.
Just turned 33 and definitely was looking for this very comment to stay motivated. Will be debt free by next year and add to my savings from there. Thanks!
If you are not in the financial market right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation
She is my family' personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Opting for an investment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2023
My CFA Annette Christine Conte a renowned figure in her line of work. 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
For retirees, Saving for retirement has become increasingly difficult due to low-paying jobs, rising inflation, and high rents, making it harder for workers to build a financial cushion. Even middle-class individuals are struggling to afford homes, leaving them without a secure place to retire.
The soaring cost of living has disrupted my retirement plans. I had initially planned to retire at 62, work part-time, and continue saving, but now I’m uncertain if that goal is realistic. It makes me question whether navigating the 2008 financial crisis was easier than dealing with today’s challenges. The combination of stock market fluctuations and reduced income is causing me significant anxiety about securing enough for retirement.
When it comes to ‘’personal’’ finance/retirement planning, following the steps of a seasoned advisor did the trick for me in just 5 years. Helped turn my capital into a whooping 6 figure yearly returns.
@@Jeffcraparo This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
My advisor is “ Annette Marie Holt” , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the fina-cial market.
thanks for the lead, curiously searched Annette by her full name, easily spotted her consulting page and was able to schedule a call session, she seems highly professional from her resumé
I agree. Some people want to give others inspiration, but sorry I just can't do that. The wolves are lurking but hey more power to them. At the end of the day I think it's about this social media attention crap.
Share your past. When I share online I’m not sharing current. I’m sharing 2-4 years prior. When I share in person, I only share with trusted people, and let them know that I am confiding in them.
As a budgeter here on RUclips, it's personal discretion on what people share. However, I couldn't ever share my full savings + the bank it's in + have my full name on the internet. THAT is wild & uncomfortable for me. 😂😂😂😂
One year I hit 100k in savings. The next, I saved 50k. It really does spiral because at that point compound interest is a big factor and you are more than likely mastering your craft and can maximize.
Taking early notes as to the importance of financial literacy, sound asset diversification and risk management It can’t be overstated. I’ve been trying to grow my portfolio of $300K for sometime now, I would greatly appreciate any other suggestions.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
@@viviancarolgioao Do you mind sharing info on the adviser who assisted you? I'm 49 now and would love to grow my stock portfolio and plan my retirement
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. 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..
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 resume.
This is a very informative video, although I'm still confused. I'm worried about retirement planning and I want to ensure a comfortable future. I've worked hard my entire life and I want to enjoy the fruits of my labor without financial stress. I'm really concerned about whether I've saved enough and invested
That's true. Assess to reliable information and professional guidance is key to success in investing. That's where a CFP comes in. You should definitely consider working with one
I have been advised on that for a while, but finding one who understands what I want and can work with me to that accord is whom I'm in search of. Any recommendation please?
Yes I do, I recommend JOSEPH NICK CAHILL to you. He is a renowned figure in his field. I recommend him to you because I've been where you are and understand your need for an open ear
This is the second video I have seen on this channel. I love how he reacts to videos that are encouraging because people who have taken control of their finances are talking. Positive side of personal finance content.
COVID turned out to be a blessing. I was in debt and living practically paycheck to paycheck as a healthcare professional after several years of a considerable self-destructive spiral as a consequence of a family member passing away. Took a chance on travel nursing, got my act together, paid my debt off, and earned my first 100k by early 2021, which was more money than either my parents ever saw in their lifetimes. Got super lucky with some investments as well, and now I have a 6 figure net worth. Yes, the first couple years of the pandemic was brutal but in retrospect, I was thankful to have been intrepid enough to go out of my comfort zone. I also still live in my crummy apartment and drive my 17 year old, beat up Toyota. But the rent is cheap, all utilities included, and my car has been paid off since I graduated from college. My definition of a good time is playing video games, napping, and going out to eat just once a month.
The brutal truth is that saving your first 100k is difficult….,especially if you don’t have a huge salary….do it in chunks instead…..for example first save $1000 : then next make your goal $5000 : then make your goal $10,000……..etc……doing it that way makes it much easier…..so don’t try to save $100,000……until you have about $75,000 or $80,000 ..then go for saving $100,000!
Man, $100K sounds like the forbidden fruit of finance, but I just cracked $109K in my emergency fund, so guess who’s ready to roll? 🎉 Now I’m here trying to figure out if I should YOLO into ETFs, sprinkle some magic on individual stocks, or maybe explore real estate. Any hot takes for a newbie looking for that sweet headstart? 😅
Congrats on the $109K flex, but don’t rush into anything shiny just yet. I was in your shoes once, and trust me, having a solid plan is key. I worked with a financial advisor who saved me from some epic mistakes early on-worth every penny. Maybe give that a thought?
Okay, I hear you both. I’ve been sitting on a decent stack too but feel totally clueless about where to begin. An advisor sounds like the move, but seriously, how do you even find a legit one who isn’t just in it for commissions?
There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s known in her field-look her up.
"I remember watching Linda Aretha Reeves at a Bloomberg Finance Summit a few years back-her presentation was absolutely spot-on. Looks like we’re all finding our way to her now!"
Well, I’ve saved up $188k in my emergency fund and now I’m looking to finally dip my toes into the investment pool... but man, the stock market’s a rollercoaster! I guess this jobs report sinking everything isn’t helping, huh? I’m looking for a solid headstart though, someone point me in the right direction!
Hey, I get it - I was in the same boat. I took the plunge with the help of a financial advisor, and honestly, it made all the difference. They helped me focus on long-term growth instead of getting caught up in the market's mood swings. It’s worth the investment to get the right guidance.
It's not just about having money to invest in stocks; it's about knowing the right strategies for profit and managing risk. That's why working with an investment advisor is important-they have insights not available to everyone.
I totally agree with you. I started out investing on my own too and lost quite a bit. After the 2020 crash, I managed to pull out about $160k. I then invested that money with an analyst, and in just seven months, I made almost $380,000. It's amazing how having the right guidance can turn things around!
My CFA is Kellystefflonn, a renowned figure in her line of work. 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. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
I’m on the road to saving 10k 😫 I have a student loan debt I’m working on and it’s taking up most of my time to pay down. But I need a 3-6 month emergency fund in the meantime while I work on it to feel comfortable god forbid anything happens while I’m paying down debt. Once that’s done I can truly think more about 100k but right now I’m taking baby steps.
I moved back in with my parents and it took me just under 3 years to go from $10k -> $100k+. Just a car payment and cell phone. Lived like a hermit mostly. A few small "splurgey" type weekends but minimal eating out overall. No complaints. I have many active investments in my trading account which are paying off substantially at the moment. NOW what.
I'm 37 making 43k a year, renting at 800 a month, no debt or health insurance yet (will get it in a few years), I just started actively saving this year. Up until March I've had everything sitting in a checking account, around 40k (I got a truck that depleted my checking in 2018, paid it off in 2 years after I realized my mistake, so I only missed out on a few years of that growing from 2021ish) . Put 10k in a high yield savings for an emergency fun, fully loaded this years and last year's roth ira contributions , and the rest in a normal brokerage account, both invested in the S&P500. Im able to put away $1k a month on a tight budget, I'm up to 53k in total. I think I'll hit 100k in 3 years.
Get health insurance of some kind in place! You can quickly end up broke in the US without some kind of healthcare insurance. A high deductible plan with an HSA might be a good fit for you.
Hello, I'm a Doctor from Scotland, how do you make such amount? I'm a born Christian but sometimes I feel so down of myself because of low finance but I still believe in God.
Making touch with financial advisors like *Catherine Adriana* who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
People are delusional when they say your spending habits are more important than your income. Nothing will help you faster than finding a way to make more money.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
Exactly, getting proper financial advise is invaluable, my portfolio is well-matched for every season of the market and recently hit 140% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year.
My CFA SOPHIE LYNN CARRABUS a renowned figure in her line of work. 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’m sorry but you should NEVER publicly share what you have in your accounts. People don’t realize how easy it is to obtain someone’s information. Just making it easy for the scammers.
I was late to the party because I was taught to save instead of buying assets. Soon as I learned the difference, my net worth skyrocketed although I'm on a salary less than 70k annually.
To attain upper-class wealth, a wise individual recognizes that building financial success requires smart investments, strategic tax planning, and informed decision-making. Although the stock market offers growth potential, effectively seizing these opportunities demands both skill and expertise.
Stock investments can offer great potential, but it's essential to approach them with caution. I recommend consulting a financial advisor who can help you determine the optimal times to buy and sell.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Finding financial advisors like Melissa Terri Swayne 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 curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Agreed! I'm celebrating £32K stock portfolio today... Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family and life ahead of me.
Basically if you save 800 a month for 12 months is 9600 a year. With a modest 5% return you could potentially yield a return of 126,778.11 for 10 years, maintaining the 9600 a year contribution. Compound interest works. I did everything long hand does not calculate monthly interest just yearly
I'm on a different trajectory. I've had T1 diabetes almost 40 years. I will not have a long retirement (not depressive, just reality - might be 10 years from now, 15 years, who knows, but it won't be 30 years from now). I have $500k in life insurance (and buying an additional $200k in the next few months. I am doing everything I can to get 100% debt free, so when I'm gone, my life insurance will pay for my wife's retirement.
Don't be so doom and gloom sir. Invest in your health (whole foods, stay away from synthetic foods and alcohol, workout daily)... Chinese researchers have found a cure for T1 diabetes using stem cells, you just need to wait it out for it to be commercially available.
I know it isn't meant to be easy, but when regular life costs like utilities/rent/groceries/gas/insurance/car payment/student loan, etc. are eating up the vast majority of your paycheck it's hard to save and have any hobbies. If you do the math and realize taking a walk or a nap are the only hobbies you can have for the next 15 years it really feels like "oh i can't enjoy life until i'm old" and it's super discouraging.
Exactly, if you're acting as an individual and only doing it by yourself with little to no outside help, this process requires insane feats of perseverance, sacrifice, knowledge, and mostly luck. It's not impossible it's just harder and harder and more not possible to attain.
Speaking from personal experience, my savings barely budged early in my career even when my food budget was mostly beans and rice (which ended up being bad for my health). I was at least able to save up for a down payment on my house when rates were 3%. Once my only debt was a mortgage and (more importantly) I started getting paid well was when I was able to start accumulating significant savings. Many people seem to be blind to the fact that your earnings is the biggest factor to wealth. Being able to save and invest it is easy in comparison.
Took me 3 yrs to get $45k in my company 401k. After watching this video, I just increased my contribution rate to 25%. Hopefully I’ll be at $100k by the end of next year.
I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at How best do l maximize my savings of over $220k
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
My CFA, Joseph Nick Cahill is a renowned figure in his field. I recommend researching his name online; you'll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
Excellent share, curiously inputted Joseph Nick Cahill on the internet, spotted his consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
I've worked a PT job while living off my FT job for over two years now. I was able to pay off my car 3 years early and now have about $120k in assets (don't yet own a home).As a reward for my hard work, I will be going on a Carrribean cruise in less than two weeks that has been paid for upfront with cash and credit card rewards🎉🎉 Hoping to start a scalable business soon now that I have a strong financial base.
I'm 55 and earn about $450k annually, only save 30% in HYSA's. I've been reading a lot of articles mentioning how worthless 'cash savings' are in this current unstable economy, I was advised to invest in stocks, but I heard it's a high risk investment.
Honestly leave it in a account that yeilds 5%, or if you can take a bit of risk invest in stocks. better still get in touch with a trusted advisor for financial advise
My dear husband passed away in 2021, and I have around $400K from his life insurance just sitting in a bank account, earning nothing. I was advised to invest it through an advisor, and in just six months, I achieved over 80% capital growth, not including dividends. Highly recommended!
Mind if I look up your advisr please? I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now
thank you for putting this out, was able to spot Victoria after inputting her full name on the web, she seems highly professional with over a decades of experience.
After reading the majority of these comments, it would be nice if people actually stated salaries as well as how long it took them to save 100k. I’m seeing comments of people who saved 100k in 2, 3 or 4 years. But that’s just not feasible unless you make a considerable salary per year. Someone who makes $20 an hour is not going to save 100k in 4 years unless they have zero expenses and live off bread and water for 4 years.
Well thing is at 40K I would expect it to take way longer than 4 years because for most people I know they have stuff to pay for over that time frame: kids, wife/husband, debts, cars, housing, and that all assumes they have gainful employment the entire time!!!
Just remember that time is your most valuable resource. Don't sacrifice doing the things you love and spending time with your family and friends just to reach some arbitrary financial goal. Figure out what you need to live the life you want in the future and create a saving plan around that. The truth is, you can live your life and save for the future. You don't have to constantly hustle, hustle, hustle to "get ahead." I don't care about "getting ahead." I just wanna arrive where I wanna be. Obviously I make sacrifices to save for the future, but it's not either/or. Enjoy your damn life.
I'm 30. Just paid off my $50k student loan debt this year. It took 5 years to complete that. The past 5 years between two jobs I put in about 12-15% with an employer match between 3-4% into my Roth IRA. That, plus other investments, I'm sitting at about $70k. I'm so excited to hit that net worth of $100k! For context, my first job out of college I made $55k and most recent job made $75k. I'm actually unemployed now but searching for a new job. Once I get it, it's game time!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@AlexHunte98 However, if you do not have access to a professional like SUZANNE GLADYS XANDER, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
its weird how some people have this mindset of "saving leftover money" rather than "spending leftover money" save first and spend the excess, don't spend first and save the excess I get some people have a lot of necessary expenses: rent, utilities, insurance, groceries, gas, etc. but sometimes ppl even add "eating out" and "entertainment" to their budget and idk why
Jan 1, 2024 I was at 17k... now it's early Dec 2024 and I'm at 38k, Let's gooooo!! Set goals and smash them. My goal for Dec was 28k but it's been fun smashing that goal and the more you have the quicker it grows, it's true! And dirty little secret: when you budget and save, it feels good and it's fun! I'm also a teacher living in one of the most expensive cities in the world: Vancouver, BC
The first 100k honestly took me 20 years contributing to my 401k … the second 100k took only 3.5 years started taking my investing alot more seriously opened up a personal brokerage and really dove in… learning how to value companies… well on my way to that 3rd 100k now future looking bright.
The thing is when you don’t have good parents living at home isn’t an option. Not during school not after school. My student loans are all 100% living expenses only 10k per year. Which is low for living expenses. I had scholarships, I had free tuition from jobs, I always worked. But I couldn’t make up for my living costs. Most of these success stories are contingent on getting expenses low but for some that’s not possible. In the long run I can save 100k. I did that but it took me to 39 to get to. Having good parents is huge HUGE leg up. Not even factoring inheritance just having them to fall back on for a safe landing during tough times is amazing. You can be riskier because you have a safe place if it goes wrong.
This.. I feel that most people who have great finances as young adults usually have good support from their family. Either from living with them, emotional and/or financial support, coupled with family who already knows how to save money. When your family is a mess, chances of getting ahead are much smaller.
Yes, being the least poor person in the family will set you back really quick. You can save all you want, but you'll be paying for your cousin's kids braces if you don't start saying no.
@@glasshalffull2930 I'd like to have both, mortgage rates went to over 5% last year, all depends on when the fixed rate ends, if you can, build an annex so you can rent the room for over £800 a month, 7500 a year tax free, max out the ISAs too, key is to build as much tax free income as possible so you can work when you want to after 50
6 figures in the bank is losing A LOT of interest, I'm balls deep in tech companies and I'm up like 90% over the past 4 months but I made these choices years prior , albeit it's a rare situation even 10% returns annually invested is still 10k for every 100k you're losing
I hit a 100k earlier this year as a 25 year old. It took me 3 years to reach. Now it’s up to 160k as of the beginning of December. My case is pretty dramatic growth as I was also recruited to a new company in September with higher pay.
You’re well on your way to being a multimillionaire by your mid 50s!!! One thing to consider is if your retirement accounts are in a 401K then in your 70s there is a Required Minimum Distribution from those accounts that could push you into paying much, much higher taxes. Because of this, you might want to put some of your money in a Roth account. You pay the taxes upfront at the time you earn the money, but the withdrawals are tax-free.
Some people don’t make not a penny more than their expenses. Then it comes to trying to make more money. Then comes debt cause education costs. Not impossible but tricky.
I made $180k yearly over the last 3 years and it took me about 2 years to save $100k. Before that I paid off $80k of student loans. I do have a fairly nice apartment ($1.5k monthly) and car in a MCOL area and have taken several cheap trips (caribbean) over the last two years. Aside that, I'm frugal AF. Like dollar store laundry detergent frugal. Like spends $100 a week on groceries and has an empty fridge frugal. Like my checking account on empty after putting 80% of my check in HYSA frugal. My point is that you'll struggle somewhere, somehow, even making a lot of money if you choose not to blow it and live like that of someone making significantly less than you. Do the hard work upfront, and you can relax later. Now my house downpayment, wedding funds, etc are take care of, and I can blow this bread :)
Empty fridge frugal is not good. I only wear white t shirts and have 20 years worth along as socks and such. I buy bulk cases of canned foods and condiments, along with tooth paste and shampoo. Buy bulk in today's prices so you can skip it when it gets high!
I have never invested in the stock market, therefore I am incredibly late at 33 and with only about 100 grand in savings. I want to make wise decisions for the future because I'm concerned about losing out on compound interest. Will I still have at least $1 million by the time I'm 65 if I make aggressive investments?
Yes, you can. Investing about 80% of that in the S&P 500 at an 8% annual return will grow to about $805k in 30 years. Financial advisors can achieve 10-15% returns, so do your research and consider consulting one.
Low cost index funds, and diversification is your friend. Don't let your retirement funds feel lonely and left out. Those two are givens.. Most people can be in better situations had they not incurred unnecessary debt. Even having $1k to your name without debt is better than having debt in the six-digit figure. Also, your lump should be put in cautiously , I personally wouldn't use most of it in the stock market. I don't think you're in a position to invest much. I hope my advice helps, good luck!
You have a very valid point, There are tons of benefits to having a financial advisor, but here’s one example: My advisor based a small part of my portfolio on Nancy Pelosi’s portfolio, which is completely legal. That portion has gone up 41% in just six months-take that info as you will.
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?
Melissa Elisa Robinson is the licensed CFA I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I Work 2 side jobs just to max out my 457b plan and Roth IRA. Bought 10 wooded acres which will be paid off in 5 years. I'm also PM stacking and have a pension i will be getting in 13-14 years. I work 62-70 hrs a week not because i have to but because i can. Idk if i will be able to work when im older so younger me is taking care of older future me!
Ngl but two big issues I see with this are burn out and regret. Securing your retirement is important but don’t let yourself be consumed by working. Even if a thousand or two is spent on a trip rather than out in your retirement account, it’s not going to impact you in the long run. Your money at age 65 will still compound to 70 so no need to worry about enjoying yourself.
Thank you to my parents ❤ for allowing me to stay home and save up. I’m aware that people who may not have family or who have been kicked out may not find saving $100k to be obtainable.
You’re right!!! Financial advisors need to emphasize this. That’s why this is money being invested for 30+ years as there will be downturns and crashes, but the market over the long term averages about 10%.
@@craigguiliano A 30% cash reserve, as Blackfreeman recommends, is way to much to be sitting out of the market waiting for a correction. You never know when a correction will occur or how much it will go down or when it will fully start an upward trend. Say you had a total of $200K at the beginning of 2023 and kept 30% ($60K) out, you would have missed the almost 50% gains on the $60K over 2023 and this year. That would be $30K of gains on that money vs $5.4K at 4.5%. Just keep dollar cost averaging in the market for the long term.
People on Reddit are the ones that need to hear this and put it into action. That place is filled with professional victims blaming boomers and everyone else their gender studies professors tell them to get mad at. Zero sense of personal responsibility and self motivation there.
Im 26 and as of today i have 231$ to my name 😢 but in tools i have about 30k-40k. I work full time in construction and i think ive hit the point where im confortable with tools needed to continue growing. This year ill start saving and wont spend and needless things anymore. For this i went back to living with my parents to save money. Of course I'm paying rent but it's far less then being by myself 😅
It’s never to late to start, every little bit counts and adds up. Stay focus, keep a journal, who cares what others think of you. If a barber can be a millionaire+ (book title The Wealthy Barber) so can we.
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 first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.
The first step to successful investing is setting clear goals and understanding your risk tolerance, preferably with a financial professional's guidance. By learning the basics and following a smart plan, you can achieve financial security and enjoy the rewards of effective money management.
I completely understand. After making a big return like that, it’s clear how valuable strategic decision-making is. I’ve also been looking into working with a financial advisor, especially now that crypto is getting more complex. The market can change so quickly, and it’s hard to know when to buy, hold, or sell. Having someone guide you through it could make all the difference.
“Izella Annette Anderson” is who i work with and she is a hot topic even among financial elitist in California. Just browse, you’d find her, thank me later.
On the increasing your income point, I think that's valid if you get a better paying job with the same hours and stress level. It's not valid if you have to work overtime. What I found is that doing lots of overtime just exhausts you and then you end up wasting money on fast food, coffees etc. You end up spending a lot of the extra money because you're tired and stressed. Getting a better paying job with the same hours and same level of stress is the way forward. Working longer hours, longer travel time or getting a more stressful job will not necessarily pay off. It will take its toll.
@@inter5123 I don't have that mindset. "Join them" doesn't mean be just like them. "Join them" means entering into the space of being called "rich" monetarily. I don't need to have Elon Musk money to be financially rich. That is defined differently depending on what your background is. I'm sure "rich" to Steve Jobs and "rich" to someone like me who was homeless growing up and now making 6 figures are 2 different definitions. But rich for me is more obtainable because I don't need a rocket ship or to be rubbing elbows with famous people to be "rich".
My husband and I have been saving for about 5 years and are about to hit the first $100k this year! But we live WAY below our means and are debt free on a tight budget. But it's totally doable
Thanks for the update, keep up the good work. Learned alot from my market journey, especially the importance of living within one's means. With Angella Adamson’s guidance, my nest egg has grown to a 7-figure sum. My advice; get an analyst for better financial trade decisions and peace of mind.
I am a total novice havent even had the balls to open an account yet. I’m cruising for the right video to show me how to get started from the very begining to opening an to my first trade. 😖
Nice to see this here! Angella's expertise in technical analysis and chart interpretation has been instrumental in my trading success. She has definitely delivered solutions well above my expectations.😃😃
@@QuincyRocha-f7j Literally Just Found her website easily it was like the first thing that came up when I searched on her name, I will surely touch bases with her to see what's the best step for me to take rn. Thanks for sharing really do appreciate.🙏🏻🙏🏻🙏🏻
A friend suggested that saving at least 15% of your income in a 401(k) can help build enough for a comfortable retirement. Is this a good strategy to potentially grow my retirement savings to around $3M over time?
There are strategies that could be put in place for solid gains regardless but such executions are usually carried out by investment experts or advisors with experience
Your friend is not a professional, Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
This is useful information; I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Your advice at 13:30 about NOT letting lifestyle creep play into your finances is 100% spot on. This is key. Let your money make more money for you, but do not start to blow the savings and investments on stupid stuff!
I'm a teacher in the UK. Never made more than £35,000 in a year. It took me 14 years to get to £100,000. It is an absolute slog on a lower salary but, it is doable if you're disciplined. I should pass a million in the next 12 months.
I'm so happy for you 🎉
That’s amazing - go you 👏
This right here!!!
Very inspiring, thank you for sharing! And congratulations 🎉
Do you get a pension too?
The first $100k took me about 11 years (1998-2009). Today, I'm at $1.7M.
@@roderick.t if you transfer 1,7m to me you are at 0 🤣
u been reverse engineering alien tech? 👀 tell me moar
Marry me
Letssss goooo!
@@allanagoldman5613 😆😂 Too late.
Perfect timing JJ. I started workin in an Amazon warehouse 8 years ago today. The fidelity account is at $98,399 right now. On track to hit 100k by the end of the month.
YOOOO GOOD JOB. I'm currently close to my first 10k🎉
Good shit!
Thats amazing
That is hard work. Keep it up
🫡😶🌫️
From $10K to $25k that's the minimum range of profit return every week I think it's not a bad one for me, now I have enough to pay bills and take care of my family.
I'm celebrating a $30k stock portfolio today. Started this journey with 6k, I have invested on time and also with the right terms now.
Wow that's huge, how do you make that much weekly? I'm 37 and have been looking for ways to be successful, please how??
Oh, yeah. I was able to achieve that with help of my Guru expert, Jennifer Spencer ❤❤❤
She's a licensed broker and successful entrepreneur from the state.
That's great!!. I don't know anything about investing and I intend to start. What are your strategies?
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.
Lauren Christine Campbell is the CFA I work with and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
The brutal truth about saving your first $100,000 is you gotta watch some random dude watch random videos of random people talk about saving money on RUclips on RUclips.
Damn that's brutal, but people need to accept it.
LOL 😂
The only truth on RUclips is brutal truth.
@@Rbdeuxfitforlife congrats
Do you like watching people watch youtube?
100k - 9 years
200k - 4 years
Here we gooooooo!
Exponential growth, baby! You're awesome🎉🎉
I'm feeling like a cheater, because I made like 120k out of my first 60k in only 4 month from july to december. That's 100% plus only because of good decisions in stocks and Trump being elected for president it seems. I must be the only person who thinks the second 100k will take way longer than the first 100k. But your numbers are encouraging...;-)
@@pompejiothat's amazing!! so proud of you. I am beginner in stocks and i know it's not as easy as copying, but do you have stock advice for me? Do you utilize bonds? Or stocks you found fruitful? ty ❤
Ours was 30 months for the 1st $100k, 25 months for the 2nd, 15 months for the 3rd. The 4th is tracking for about 15 or 16 months. This is in NZD not USD but similar principles apply - (0.60c USD = $1 NZD).
2024 was the first year where my money made more than I did. It took a long time but compounding interest is a powerful tool.
I'm still on my 10K hustle because I still didn't pay all my debt. By this rate, I'll get rid of my debt in May and have my 100k in 5 years! (I just got my first IT job at the age of 35!)
Nice, congrats on your new career!
You got this!
Do you have a student loan with an interest rate under 4%? If you do I’d make the minimum payments and invest your money instead. 2 reasons, 1 is because inflation will eat away at the value of that debt and make it easier to pay off in the future. The second is because you’ll get a better long term return investing it in the stock market, even if you were to do treasury bills you’d come out on top. If it is over 4%, yeah pay that off ASAP
Congratulations!
You’re gonna crush it! It feels great to have 10k. 5 figures!!
It took me right about 10 years to save my first 100k after I first started saving when I was 30 years old. I wasn't making great money for half of that time so I could have maybe done it faster if I'd increased my income sooner and had the money invested better. It was a great day when I hit that milestone; there was a point in my life in my 20's and early 30's where I thought I would never have this much money saved, ever. Don't give up, keep at it.
Heck yes bro. Good job and advice. I’m 42 and only recently started saving seriously bc having three kids had me living paycheck to paycheck. Now one is in college and I have my house paid off and saving about $2,000/month. Trying to convince my coworkers to save while they’re young. Teaching my kids to put money in an IRA and high yield savings and not keeping all their money in their checking account like I did for 1/3 of my life because no one explained anything to me financially. Late start but I’m planning on 20 more years working and whatever I have at 62 is what I have.
Congrats 👏🏻 Giving me hope it's never too late to take saving seriously
I'm 30 and have about $66K (had to spend $20K on medical debt this past year). I should have $100K in about 3 years.
Thank you, it's great to hear from people who started in their 30s (my current age). Feel like I missed out by not starting way earlier, but it's good to hear that it's still possible!
I was making only 40k for many years and from age 35 to 40 I worked overtime all year and saved up that much. I now need to find a high yield trustworthy checking or savings to put money into.
Once you hit $100k, $250k is just around the corner. Stay discipline and stay focus. You got this. Good luck to all of you..
It’s true. I hit 100k last year, June 2023 and ended the year at 115K. Today, I have 168k. Hoping next year to have 215k.
I'm a teacher in Russia, my salary is 388$ per month, guess how many years I need to save 100k dollars 😂😂😂😂
@@sonyasever7625 im right there with you bro, 600 pay
I had 100k saved by age 30. Do not go into debt and find a husband who has the same goals.
Yes! The greatest financial risk is having a bad partner
Before I finished your sentence I was thinking find a husband who has 100k lmao.
@@dre7018 lol. My husband wasn't rich, but was hard working and didn't overspend
Yeah, rely on the hubby... that is what a man is for.
@@dre7018me too lmao had us on the first half ain’t gonna lie
I'm completely debt free, and i saved my first 100k last year. It's invest in FTEC now I'm working on my next 100k
Amazing!
Same
Fantastic!
What’s FTEC?
Big 🧢
Don’t listen to the high cost of living people complaining too much. I’m in Southern California. It’s expensive to live here but my husband and I make so much more than we would living anywhere else. Lifestyle creep is still the biggest problem.
I like this perspective.
Yeah there is a huge dissonance online between people claiming that cost of living is too expensive, while there are shows like financial audit which show that the same people are spending all their money on "stuff".
Oh also the guys saying you have to live with parents to "save money", but then not saving money.
You aren't wrong. I moved to NorCal because there was "cheaper" property but the cost of gas electric and groceries is overall more expensive. Let's not talk about insurance, since we are in a fire zone it's 3x.
Rent or mortgage in SoCal or NorCal is objectively 3-5x what it is for the exact same thing in nearly all other major US cities, except NYC, maybe 1-2 others.
The approx 25% salary increase I would get for "livingf living adjustment" wouldn't even begin to cover the fact that rents + housing prices are all minimum 300% higher than the last 4 cities I've lived in all over the US.
Believe me, I've mathed it out. And that's before we mention the most insane taxes and prices on everything in CA.
F That Noise 😂😂😂
@AlanH2B Nobody is claiming housing is expensive, it's objectively more expensive than other points in American history.
I completely agree. The first $100k was the toughest, and I didn't really start seriously investing until I was 30 back in 1998. Today, I'm 55 and have a decent $1.2M nest egg thanks to my fa Abigail Ann Ryan. After learning all of this, my only regret is not starting earlier when I was 25. It may not seem like much but those extra 5 years are the most important.
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 Abigail Ann Ryan 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.
I’m $2000 away from $100k over a couple of accounts. My real goal is to get my net worth to $100k
Is your liabilities significant?
Nice!
Cash is part of your net worth, so your already there!
@@brentg8600 Bad advice cash is constantly depreciating. Don't count cash as net worth.
If its in a Bank then I hope your Bank has High Yield Savings of 3.8%-4.5% because you should be earning around $330-$375 a month from it but of course Banks is to park your money until you figure out how to flip or invest before it starts losing its value again in a few years
I’m 45 have $116,000 saved in my portfolio I started at the age of 38…. Wish I would’ve started sooner in life…..seeing 10% returns on average
Let’s go!! Better now than never!
You got this! Keep at it!
This is awesome!
Still frickn' good!
Are you me? 😅😮😮
Number one thing to do, stop spending it.
and at least put it into a high yield savings account/money market, I would like to put more into my HYSA but i'm scared a bill is gonna shoot me in D arse out of nowhere lol
i started when i was 33. first i had to pay off my last debt and with 34 i was ready to save up. Now i am 35 and already 1/3 on the way. it works quite well.
I’m 33 now and about to sell my car to become debt free and will start saving just like you. We got this!
Just turned 33 and definitely was looking for this very comment to stay motivated. Will be debt free by next year and add to my savings from there. Thanks!
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.
I would love an introduction to an adviser who can help me strengthen my financial roots.
Thank you for this amazing tip. I just looked the name up and wrote her.
Investments aren't security at all God is
If you are not in the financial market right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation
YES!!! That's exactly her name (Maria Williams ) so many people have recommended highly about her and am just starting with her from South Savo
She is my family' personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
She's always active on whats~appp..
+136
57 99
I got 60k now and I got no where to dump bro, everything is jacked up in the stock market.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Opting for an investment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2023
This is very insightful. Hope you don't mind me asking you to recommend your advisor?
My CFA Annette Christine Conte a renowned figure in her line of work. 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 looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
For retirees, Saving for retirement has become increasingly difficult due to low-paying jobs, rising inflation, and high rents, making it harder for workers to build a financial cushion. Even middle-class individuals are struggling to afford homes, leaving them without a secure place to retire.
The soaring cost of living has disrupted my retirement plans. I had initially planned to retire at 62, work part-time, and continue saving, but now I’m uncertain if that goal is realistic. It makes me question whether navigating the 2008 financial crisis was easier than dealing with today’s challenges. The combination of stock market fluctuations and reduced income is causing me significant anxiety about securing enough for retirement.
When it comes to ‘’personal’’ finance/retirement planning, following the steps of a seasoned advisor did the trick for me in just 5 years. Helped turn my capital into a whooping 6 figure yearly returns.
@@Jeffcraparo This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
My advisor is “ Annette Marie Holt” , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the fina-cial market.
thanks for the lead, curiously searched Annette by her full name, easily spotted her consulting page and was able to schedule a call session, she seems highly professional from her resumé
If you want to grow your money, you need discipline, patience and consistency.
PREACH!
Idk how people share everything they have in savings. Salary is one thing but what's in your accounts invites the wrong attention.
I agree. Some people want to give others inspiration, but sorry I just can't do that. The wolves are lurking but hey more power to them. At the end of the day I think it's about this social media attention crap.
Share your past.
When I share online I’m not sharing current. I’m sharing 2-4 years prior.
When I share in person, I only share with trusted people, and let them know that I am confiding in them.
No one seems to rob the 1%
Leave the poor alone.
As a budgeter here on RUclips, it's personal discretion on what people share.
However, I couldn't ever share my full savings + the bank it's in + have my full name on the internet. THAT is wild & uncomfortable for me. 😂😂😂😂
Social media is a hell of a drug I’m glad I got out of it since 2019
One year I hit 100k in savings. The next, I saved 50k. It really does spiral because at that point compound interest is a big factor and you are more than likely mastering your craft and can maximize.
How long did it take to get to 100k? And if you don't mind me asking do you make six figures?
So happy this popped up on my feed. I’m 29% away from reaching my first $100,000 by 27. You gave some great insight JJ, thanks!
You’re A Beast!!! I didn’t get to,$100K til I was about 39. Twenty-five years later and I’m just shy of $4 million.
How old are you now ?
@@DanSchultz-e4d 26
@@DanSchultz-e4d started at 24
Discipline…. Discipline….. Discipline…. That is the key
Taking early notes as to the importance of financial literacy, sound asset diversification and risk management It can’t be overstated. I’ve been trying to grow my portfolio of $300K for sometime now, I would greatly appreciate any other suggestions.
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
@@viviancarolgioao Do you mind sharing info on the adviser who assisted you? I'm 49 now and would love to grow my stock portfolio and plan my retirement
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. 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..
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 resume.
2:11 hats off to her, idk if I would ever be that transparent but it’s very refreshing when RUclipsrs are
Took me 5 years to save my first $100k at 28 years old. Keep saving and working, people!
This is a very informative video, although I'm still confused. I'm worried about retirement planning and I want to ensure a comfortable future. I've worked hard my entire life and I want to enjoy the fruits of my labor without financial stress. I'm really concerned about whether I've saved enough and invested
That's completely understandable. Ensuring
financial security in retirement is
crucial. Have you considered
consulting a financial advisor?
That's true. Assess to reliable information and professional guidance is key to success in investing. That's where a CFP comes in. You should definitely consider working with one
I have been advised on that for a while, but finding one who understands what I want and can work with me to that accord is whom I'm in search of. Any recommendation please?
Yes I do, I recommend JOSEPH NICK CAHILL to you. He is a renowned figure in his field. I recommend him to you because I've been where you are and understand your need for an open ear
You can look him up online, his website will direct you on how to reach out to him
This is the second video I have seen on this channel. I love how he reacts to videos that are encouraging because people who have taken control of their finances are talking. Positive side of personal finance content.
COVID turned out to be a blessing. I was in debt and living practically paycheck to paycheck as a healthcare professional after several years of a considerable self-destructive spiral as a consequence of a family member passing away. Took a chance on travel nursing, got my act together, paid my debt off, and earned my first 100k by early 2021, which was more money than either my parents ever saw in their lifetimes.
Got super lucky with some investments as well, and now I have a 6 figure net worth. Yes, the first couple years of the pandemic was brutal but in retrospect, I was thankful to have been intrepid enough to go out of my comfort zone. I also still live in my crummy apartment and drive my 17 year old, beat up Toyota. But the rent is cheap, all utilities included, and my car has been paid off since I graduated from college. My definition of a good time is playing video games, napping, and going out to eat just once a month.
You’re killing it!!!
What investments did you get lucky with?
The brutal truth is that saving your first 100k is difficult….,especially if you don’t have a huge salary….do it in chunks instead…..for example first save $1000 : then next make your goal $5000 : then make your goal $10,000……..etc……doing it that way makes it much easier…..so don’t try to save $100,000……until you have about $75,000 or $80,000 ..then go for saving $100,000!
thank you, that's much more realstic
Man, $100K sounds like the forbidden fruit of finance, but I just cracked $109K in my emergency fund, so guess who’s ready to roll? 🎉 Now I’m here trying to figure out if I should YOLO into ETFs, sprinkle some magic on individual stocks, or maybe explore real estate. Any hot takes for a newbie looking for that sweet headstart? 😅
Congrats on the $109K flex, but don’t rush into anything shiny just yet. I was in your shoes once, and trust me, having a solid plan is key. I worked with a financial advisor who saved me from some epic mistakes early on-worth every penny. Maybe give that a thought?
Okay, I hear you both. I’ve been sitting on a decent stack too but feel totally clueless about where to begin. An advisor sounds like the move, but seriously, how do you even find a legit one who isn’t just in it for commissions?
There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s known in her field-look her up.
Checked out Linda Aretha Reeves, and wow, she seems like exactly what I need to stop spinning my wheels. Appreciate the rec!"
"I remember watching Linda Aretha Reeves at a Bloomberg Finance Summit a few years back-her presentation was absolutely spot-on. Looks like we’re all finding our way to her now!"
Well, I’ve saved up $188k in my emergency fund and now I’m looking to finally dip my toes into the investment pool... but man, the stock market’s a rollercoaster! I guess this jobs report sinking everything isn’t helping, huh? I’m looking for a solid headstart though, someone point me in the right direction!
Hey, I get it - I was in the same boat. I took the plunge with the help of a financial advisor, and honestly, it made all the difference. They helped me focus on long-term growth instead of getting caught up in the market's mood swings. It’s worth the investment to get the right guidance.
It's not just about having money to invest in stocks; it's about knowing the right strategies for profit and managing risk. That's why working with an investment advisor is important-they have insights not available to everyone.
I totally agree with you. I started out investing on my own too and lost quite a bit. After the 2020 crash, I managed to pull out about $160k. I then invested that money with an analyst, and in just seven months, I made almost $380,000. It's amazing how having the right guidance can turn things around!
This is incredible. Could you recommend who you work with? I really could use some help at this moment.
My CFA is Kellystefflonn, a renowned figure in her line of work. 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. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
I’m on the road to saving 10k 😫 I have a student loan debt I’m working on and it’s taking up most of my time to pay down. But I need a 3-6 month emergency fund in the meantime while I work on it to feel comfortable god forbid anything happens while I’m paying down debt. Once that’s done I can truly think more about 100k but right now I’m taking baby steps.
Keep going, you’ll get there. 🙂
I moved back in with my parents and it took me just under 3 years to go from $10k -> $100k+. Just a car payment and cell phone. Lived like a hermit mostly. A few small "splurgey" type weekends but minimal eating out overall. No complaints. I have many active investments in my trading account which are paying off substantially at the moment. NOW what.
just keep stacking
@@onlypostthebest6104 that's what I'm doin. the trading account is bussin.
Killing it!! 🫡
🍾 🥂
You can invest in property that’s what I’m going to do
I'm 37 making 43k a year, renting at 800 a month, no debt or health insurance yet (will get it in a few years), I just started actively saving this year. Up until March I've had everything sitting in a checking account, around 40k (I got a truck that depleted my checking in 2018, paid it off in 2 years after I realized my mistake, so I only missed out on a few years of that growing from 2021ish) . Put 10k in a high yield savings for an emergency fun, fully loaded this years and last year's roth ira contributions , and the rest in a normal brokerage account, both invested in the S&P500.
Im able to put away $1k a month on a tight budget, I'm up to 53k in total. I think I'll hit 100k in 3 years.
Really nice! Keep going!
Get health insurance of some kind in place! You can quickly end up broke in the US without some kind of healthcare insurance. A high deductible plan with an HSA might be a good fit for you.
*I'm glad you made this video* it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love..
My advice to everyone is that saving is great but investment is the key to be successful imagine investing $15,000 and received $472,700.
Hello, I'm a Doctor from Scotland, how do you make such amount? I'm a born
Christian but sometimes I feel so down of myself because of low finance but I still believe in God.
I'm looking for something to venture into in the short term, I have about $6,000 in savings.
Making touch with financial advisors like *Catherine Adriana* who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
People are delusional when they say your spending habits are more important than your income. Nothing will help you faster than finding a way to make more money.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
keep contributing to your 401K, remember you are in for the long haul, but I'd suggest you consider financial advisory
Exactly, getting proper financial advise is invaluable, my portfolio is well-matched for every season of the market and recently hit 140% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year.
@@PatrickLloyd- this is awesome! can you please leave the info of your advsor here? i’m in dire need of financial advisory
My CFA SOPHIE LYNN CARRABUS a renowned figure in her line of work. 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..
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.
I’m sorry but you should NEVER publicly share what you have in your accounts. People don’t realize how easy it is to obtain someone’s information. Just making it easy for the scammers.
Scrimp and save for decades and the Federal Reserve can click a button and create billions of dollars from thin air. Not fair
Yeah, but those billions aren't worth as much. The more money there is, the less buying power you have.
That's a gross oversimplification.
That devalues all the money you've saved, yep
That's why you don't save... You invest...
I was late to the party because I was taught to save instead of buying assets. Soon as I learned the difference, my net worth skyrocketed although I'm on a salary less than 70k annually.
To attain upper-class wealth, a wise individual recognizes that building financial success requires smart investments, strategic tax planning, and informed decision-making. Although the stock market offers growth potential, effectively seizing these opportunities demands both skill and expertise.
Stock investments can offer great potential, but it's essential to approach them with caution. I recommend consulting a financial advisor who can help you determine the optimal times to buy and sell.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
How can I reach this advisor of yours? because I'm seeking for a more effective investment approach on my savings
Finding financial advisors like Melissa Terri Swayne 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 curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Saving my first 50k was the hardest. Took me way longer than the 100k
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Agreed! I'm celebrating £32K stock portfolio today... Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family and life ahead of me.
Basically if you save 800 a month for 12 months is 9600 a year. With a modest 5% return you could potentially yield a return of 126,778.11 for 10 years, maintaining the 9600 a year contribution. Compound interest works. I did everything long hand does not calculate monthly interest just yearly
Boom!
Sadly 800 a month is a full salary in my country
I'm on a different trajectory. I've had T1 diabetes almost 40 years. I will not have a long retirement (not depressive, just reality - might be 10 years from now, 15 years, who knows, but it won't be 30 years from now). I have $500k in life insurance (and buying an additional $200k in the next few months. I am doing everything I can to get 100% debt free, so when I'm gone, my life insurance will pay for my wife's retirement.
Don't be so doom and gloom sir. Invest in your health (whole foods, stay away from synthetic foods and alcohol, workout daily)... Chinese researchers have found a cure for T1 diabetes using stem cells, you just need to wait it out for it to be commercially available.
I started my 100k saving adventure this summer and in this pace it will take 10 years, but I can hopefully add more money in the feature.
I know it isn't meant to be easy, but when regular life costs like utilities/rent/groceries/gas/insurance/car payment/student loan, etc. are eating up the vast majority of your paycheck it's hard to save and have any hobbies. If you do the math and realize taking a walk or a nap are the only hobbies you can have for the next 15 years it really feels like "oh i can't enjoy life until i'm old" and it's super discouraging.
Exactly, if you're acting as an individual and only doing it by yourself with little to no outside help, this process requires insane feats of perseverance, sacrifice, knowledge, and mostly luck. It's not impossible it's just harder and harder and more not possible to attain.
Speaking from personal experience, my savings barely budged early in my career even when my food budget was mostly beans and rice (which ended up being bad for my health). I was at least able to save up for a down payment on my house when rates were 3%. Once my only debt was a mortgage and (more importantly) I started getting paid well was when I was able to start accumulating significant savings. Many people seem to be blind to the fact that your earnings is the biggest factor to wealth. Being able to save and invest it is easy in comparison.
@@JakoWakoright. I think many forget that you need to increase your income not just invest.
I just hit 100k in my taxable brokerage account last week! Took me about 5 years making under 100k. You can do it!!
Took me 3 yrs to get $45k in my company 401k. After watching this video, I just increased my contribution rate to 25%. Hopefully I’ll be at $100k by the end of next year.
May not be next year, but keep up the great work!!! This is a marathon.
Halfway there! Don't forget to use all 3 buckets so you don't have solely tax deferred in retirement.
Nice one - keep going! :)
I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at
How best do l maximize my savings of over $220k
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Working with professionals who have expertise and experience in the market can provide valuable insights and guidance to navigate volatile times.
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
My CFA, Joseph Nick Cahill is a renowned figure in his field. I recommend researching his name online; you'll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
Excellent share, curiously inputted Joseph Nick Cahill on the internet, spotted his consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
I've worked a PT job while living off my FT job for over two years now. I was able to pay off my car 3 years early and now have about $120k in assets (don't yet own a home).As a reward for my hard work, I will be going on a Carrribean cruise in less than two weeks that has been paid for upfront with cash and credit card rewards🎉🎉
Hoping to start a scalable business soon now that I have a strong financial base.
I'm 55 and earn about $450k annually, only save 30% in HYSA's. I've been reading a lot of articles mentioning how worthless 'cash savings' are in this current unstable economy, I was advised to invest in stocks, but I heard it's a high risk investment.
Honestly leave it in a account that yeilds 5%, or if you can take a bit of risk invest in stocks. better still get in touch with a trusted advisor for financial advise
My dear husband passed away in 2021, and I have around $400K from his life insurance just sitting in a bank account, earning nothing. I was advised to invest it through an advisor, and in just six months, I achieved over 80% capital growth, not including dividends. Highly recommended!
Mind if I look up your advisr please? I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now
She goes by *Victoria Louisa Saylor* a seasoned advisor with over two decades of experience. You can research her further on the web.
thank you for putting this out, was able to spot Victoria after inputting her full name on the web, she seems highly professional with over a decades of experience.
It was a really good feeling when I reached 100k networth. Good luck to everyone!!
Same, my initial thought when I reached it was wow I have to do this 9 more times 😩 😩 😩 to be a millionaire lol
After reading the majority of these comments, it would be nice if people actually stated salaries as well as how long it took them to save 100k.
I’m seeing comments of people who saved 100k in 2, 3 or 4 years. But that’s just not feasible unless you make a considerable salary per year.
Someone who makes $20 an hour is not going to save 100k in 4 years unless they have zero expenses and live off bread and water for 4 years.
Well thing is at 40K I would expect it to take way longer than 4 years because for most people I know they have stuff to pay for over that time frame: kids, wife/husband, debts, cars, housing, and that all assumes they have gainful employment the entire time!!!
Just remember that time is your most valuable resource. Don't sacrifice doing the things you love and spending time with your family and friends just to reach some arbitrary financial goal. Figure out what you need to live the life you want in the future and create a saving plan around that. The truth is, you can live your life and save for the future. You don't have to constantly hustle, hustle, hustle to "get ahead." I don't care about "getting ahead." I just wanna arrive where I wanna be. Obviously I make sacrifices to save for the future, but it's not either/or. Enjoy your damn life.
I'm 30. Just paid off my $50k student loan debt this year. It took 5 years to complete that. The past 5 years between two jobs I put in about 12-15% with an employer match between 3-4% into my Roth IRA. That, plus other investments, I'm sitting at about $70k. I'm so excited to hit that net worth of $100k! For context, my first job out of college I made $55k and most recent job made $75k. I'm actually unemployed now but searching for a new job. Once I get it, it's game time!
I think one of the most important things to remember is that saving $100,000 is a marathon, not a sprint. It takes time, discipline, and patience.
Treat your finances like you are running a business….meaning be serious and professional about it…..you are running the business of YOU!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@AlexHunte98 However, if you do not have access to a professional like SUZANNE GLADYS XANDER, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@Lourd-Bab Oh I would love that. thank you.
@@AlexHunte98 Suzanne Gladys Xander is her name .
Lookup with her name on the webpage.
I agree. The money talk shouldn’t be so bad. As long as you do Amit how you truly got there.
its weird how some people have this mindset of "saving leftover money" rather than "spending leftover money"
save first and spend the excess, don't spend first and save the excess
I get some people have a lot of necessary expenses: rent, utilities, insurance, groceries, gas, etc. but sometimes ppl even add "eating out" and "entertainment" to their budget and idk why
Its completely doable. I moved back home right after college and lived under my means and I am currently 22 and have 100K invested.
Jan 1, 2024 I was at 17k... now it's early Dec 2024 and I'm at 38k, Let's gooooo!!
Set goals and smash them. My goal for Dec was 28k but it's been fun smashing that goal and the more you have the quicker it grows, it's true!
And dirty little secret: when you budget and save, it feels good and it's fun!
I'm also a teacher living in one of the most expensive cities in the world: Vancouver, BC
The first 100k honestly took me 20 years contributing to my 401k … the second 100k took only 3.5 years started taking my investing alot more seriously opened up a personal brokerage and really dove in… learning how to value companies… well on my way to that 3rd 100k now future looking bright.
The thing is when you don’t have good parents living at home isn’t an option. Not during school not after school. My student loans are all 100% living expenses only 10k per year. Which is low for living expenses. I had scholarships, I had free tuition from jobs, I always worked. But I couldn’t make up for my living costs. Most of these success stories are contingent on getting expenses low but for some that’s not possible. In the long run I can save 100k. I did that but it took me to 39 to get to. Having good parents is huge HUGE leg up. Not even factoring inheritance just having them to fall back on for a safe landing during tough times is amazing. You can be riskier because you have a safe place if it goes wrong.
This.. I feel that most people who have great finances as young adults usually have good support from their family. Either from living with them, emotional and/or financial support, coupled with family who already knows how to save money.
When your family is a mess, chances of getting ahead are much smaller.
Facts
100% true. Having great parents is definitely a leg up in life.
Yes, being the least poor person in the family will set you back really quick. You can save all you want, but you'll be paying for your cousin's kids braces if you don't start saying no.
@@AmandaVieiraMamaesouCult or supporting your parent(s) while they got no retirement savings..
You want a paid off house AND six figures in the bank, then you are well ahead
At my 2.7% mortgage, I’d rather invest extra money at the 10% rate the S&P 500 has averaged for almost a 100 years.
@@glasshalffull2930 I'd like to have both, mortgage rates went to over 5% last year, all depends on when the fixed rate ends, if you can, build an annex so you can rent the room for over £800 a month, 7500 a year tax free, max out the ISAs too, key is to build as much tax free income as possible so you can work when you want to after 50
6 figures in the bank is losing A LOT of interest, I'm balls deep in tech companies and I'm up like 90% over the past 4 months but I made these choices years prior , albeit it's a rare situation even 10% returns annually invested is still 10k for every 100k you're losing
@@mvloz113 I see what you are saying but i have my funds spread out, some in fixed interest accounts, some etf with some in stocks etc
1st 100k took me 4 years. Second 100k took me 2 years.
Totally after 5 years is $285k!!! I'm now saving $75k per year.
I hit a 100k earlier this year as a 25 year old. It took me 3 years to reach. Now it’s up to 160k as of the beginning of December. My case is pretty dramatic growth as I was also recruited to a new company in September with higher pay.
You’re well on your way to being a multimillionaire by your mid 50s!!! One thing to consider is if your retirement accounts are in a 401K then in your 70s there is a Required Minimum Distribution from those accounts that could push you into paying much, much higher taxes. Because of this, you might want to put some of your money in a Roth account. You pay the taxes upfront at the time you earn the money, but the withdrawals are tax-free.
Some people don’t make not a penny more than their expenses. Then it comes to trying to make more money. Then comes debt cause education costs. Not impossible but tricky.
It's not that hard or complicated. Work your ass off and don't waste your money.
I made $180k yearly over the last 3 years and it took me about 2 years to save $100k. Before that I paid off $80k of student loans. I do have a fairly nice apartment ($1.5k monthly) and car in a MCOL area and have taken several cheap trips (caribbean) over the last two years. Aside that, I'm frugal AF. Like dollar store laundry detergent frugal. Like spends $100 a week on groceries and has an empty fridge frugal. Like my checking account on empty after putting 80% of my check in HYSA frugal. My point is that you'll struggle somewhere, somehow, even making a lot of money if you choose not to blow it and live like that of someone making significantly less than you. Do the hard work upfront, and you can relax later. Now my house downpayment, wedding funds, etc are take care of, and I can blow this bread :)
Empty fridge frugal is not good. I only wear white t shirts and have 20 years worth along as socks and such. I buy bulk cases of canned foods and condiments, along with tooth paste and shampoo. Buy bulk in today's prices so you can skip it when it gets high!
This 🙌
I have never invested in the stock market, therefore I am incredibly late at 33 and with only about 100 grand in savings. I want to make wise decisions for the future because I'm concerned about losing out on compound interest. Will I still have at least $1 million by the time I'm 65 if I make aggressive investments?
Yes, you can. Investing about 80% of that in the S&P 500 at an 8% annual return will grow to about $805k in 30 years. Financial advisors can achieve 10-15% returns, so do your research and consider consulting one.
Low cost index funds, and diversification is your friend. Don't let your retirement funds feel lonely and left out. Those two are givens..
Most people can be in better situations had they not incurred unnecessary debt. Even having $1k to your name without debt is better than having debt in the six-digit figure.
Also, your lump should be put in cautiously , I personally wouldn't use most of it in the stock market. I don't think you're in a position to invest much.
I hope my advice helps, good luck!
You have a very valid point, There are tons of benefits to having a financial advisor, but here’s one example: My advisor based a small part of my portfolio on Nancy Pelosi’s portfolio, which is completely legal. That portion has gone up 41% in just six months-take that info as you will.
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?
Melissa Elisa Robinson is the licensed CFA I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
You don’t save your way into 100k you invest your way into it imo
I Work 2 side jobs just to max out my 457b plan and Roth IRA. Bought 10 wooded acres which will be paid off in 5 years. I'm also PM stacking and have a pension i will be getting in 13-14 years.
I work 62-70 hrs a week not because i have to but because i can. Idk if i will be able to work when im older so younger me is taking care of older future me!
Ngl but two big issues I see with this are burn out and regret. Securing your retirement is important but don’t let yourself be consumed by working. Even if a thousand or two is spent on a trip rather than out in your retirement account, it’s not going to impact you in the long run. Your money at age 65 will still compound to 70 so no need to worry about enjoying yourself.
Thank you to my parents ❤ for allowing me to stay home and save up. I’m aware that people who may not have family or who have been kicked out may not find saving $100k to be obtainable.
Saving 100k may be “the hardest,” but 99% of young financial influencers have never experienced a market downturn or crash.
You’re right!!! Financial advisors need to emphasize this. That’s why this is money being invested for 30+ years as there will be downturns and crashes, but the market over the long term averages about 10%.
Just like buying products on sale, the time to buy is when the price is low.
That's why it's important to keep 30% cash on hand. Robinhood offers me 4.5% and the funds are available to withdraw in seconds.
@@craigguiliano A 30% cash reserve, as Blackfreeman recommends, is way to much to be sitting out of the market waiting for a correction. You never know when a correction will occur or how much it will go down or when it will fully start an upward trend. Say you had a total of $200K at the beginning of 2023 and kept 30% ($60K) out, you would have missed the almost 50% gains on the $60K over 2023 and this year. That would be $30K of gains on that money vs $5.4K at 4.5%. Just keep dollar cost averaging in the market for the long term.
Na they did a study and found rhar its better to have all doe invested instead of having a dry stash for a storm @@BlackFreemen
Your audio sounds really good. Are you using the camera mic or what? Thanks for your help. Great channel and info.
i saved my first 100k and didn't even know it. i think mainly because i didn't buy a house i don't feel like i'm struggling
I’m 25 and will hit my first 10k in 2025, it took me a year and 9 months. I’m hoping to reach the next 10k faster, so on and so forth to 100k.
People on Reddit are the ones that need to hear this and put it into action. That place is filled with professional victims blaming boomers and everyone else their gender studies professors tell them to get mad at. Zero sense of personal responsibility and self motivation there.
I’ve noticed that as well, Reddit is a cesspool for the most part.
Well, who runs the Fed? Millennials? Gen Z?
@@ericp1139 Probably Gen Alpha
Took me 5 years to have invested over 100k - 2 years later I’m at 258k. So it definitely pays to stay consistent and let the money do the work
Im 26 and as of today i have 231$ to my name 😢 but in tools i have about 30k-40k. I work full time in construction and i think ive hit the point where im confortable with tools needed to continue growing. This year ill start saving and wont spend and needless things anymore.
For this i went back to living with my parents to save money. Of course I'm paying rent but it's far less then being by myself 😅
"This year ill start saving and wont spend and needless things anymore." When you get to 1K saved, come back here let us know! You can do it!
Beeen binge watching your videos since I’ve discovered your channel. Thanks for the words of wisdom bro 💪🏾
It’s never to late to start, every little bit counts and adds up. Stay focus, keep a journal, who cares what others think of you. If a barber can be a millionaire+ (book title The Wealthy Barber) so can we.
Yes!!
I have 44k right now and it’s taking me 8 years to collect that
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 first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.
The first step to successful investing is setting clear goals and understanding your risk tolerance, preferably with a financial professional's guidance. By learning the basics and following a smart plan, you can achieve financial security and enjoy the rewards of effective money management.
I completely understand. After making a big return like that, it’s clear how valuable strategic decision-making is. I’ve also been looking into working with a financial advisor, especially now that crypto is getting more complex. The market can change so quickly, and it’s hard to know when to buy, hold, or sell. Having someone guide you through it could make all the difference.
Could you be kind enough with details of your advsor please?
“Izella Annette Anderson” is who i work with and she is a hot topic even among financial elitist in California. Just browse, you’d find her, thank me later.
Join them! 😂😂😂 love that. It really can be that simple.
Took me almost 9 years to hit my first 100k. That was in 2005. I'm over 900k today.
Well done!
On the increasing your income point, I think that's valid if you get a better paying job with the same hours and stress level. It's not valid if you have to work overtime. What I found is that doing lots of overtime just exhausts you and then you end up wasting money on fast food, coffees etc. You end up spending a lot of the extra money because you're tired and stressed. Getting a better paying job with the same hours and same level of stress is the way forward. Working longer hours, longer travel time or getting a more stressful job will not necessarily pay off. It will take its toll.
Lol im so proud just saved my first 1k next goal 2k 😂 step by step
And the more you save, the more it compounds. So it gets easier and easier as you go!
It's so true that you need a side hustle. It does help big time, and you can put all that side money into investments! Love your videos!!
I smiled when you said "the rich are getting richer, well JOIN THEM". Thank you for that :)
That ignores the big wealth disparity and privilege. “You can’t join them” frankly you’ll never catch up.
@@inter5123 I don't have that mindset. "Join them" doesn't mean be just like them. "Join them" means entering into the space of being called "rich" monetarily. I don't need to have Elon Musk money to be financially rich. That is defined differently depending on what your background is. I'm sure "rich" to Steve Jobs and "rich" to someone like me who was homeless growing up and now making 6 figures are 2 different definitions. But rich for me is more obtainable because I don't need a rocket ship or to be rubbing elbows with famous people to be "rich".
My husband and I have been saving for about 5 years and are about to hit the first $100k this year! But we live WAY below our means and are debt free on a tight budget. But it's totally doable
Thanks for the update, keep up the good work. Learned alot from my market journey, especially the importance of living within one's means. With Angella Adamson’s guidance, my nest egg has grown to a 7-figure sum. My advice; get an analyst for better financial trade decisions and peace of mind.
I am a total novice havent even had the balls to open an account yet. I’m cruising for the right video to show me how to get started from the very begining to opening an to my first trade. 😖
Nice to see this here! Angella's expertise in technical analysis and chart interpretation has been instrumental in my trading success. She has definitely delivered solutions well above my expectations.😃😃
@@QuincyRocha-f7j Literally Just Found her website easily it was like the first thing that came up when I searched on her name, I will surely touch bases with her to see what's the best step for me to take rn. Thanks for sharing really do appreciate.🙏🏻🙏🏻🙏🏻
26 years old. I broke 100K back in June. Debt free and slaying.
A friend suggested that saving at least 15% of your income in a 401(k) can help build enough for a comfortable retirement. Is this a good strategy to potentially grow my retirement savings to around $3M over time?
There are strategies that could be put in place for solid gains regardless but such executions are usually carried out by investment experts or advisors with experience
Your friend is not a professional, Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one then
‘Annette Christine Conte” maintains an online presence. Just make a simple search for her name online.
This is useful information; I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Your advice at 13:30 about NOT letting lifestyle creep play into your finances is 100% spot on. This is key. Let your money make more money for you, but do not start to blow the savings and investments on stupid stuff!