First 100k is the hardest When you have a million working with you to make the second, it will come easier (less time). And your first $1,000. Perhaps the modern version of this story is that the first million is the hardest. Like I said before, the first 100k is tough sledding since the growth part of the equation is small. But once you're there, it gets much easier to make the next million. Working a job Just like for Apple the first trillion was the hardest Reply reply Grumpy_Troll • Apple's market cap increased by $91 Billion yesterday alone. like saving the first 10% is the hardest: getting your first 100k on a 1m goal They say saving your first $100k is the hardest, and I’d have to agree. When you already have money working for you, each percent The first million is the hardest because most people start with nothing. "The first 100k is the hardest" Also true in business though. Goals can also help you look towards the future and keep saving efforts in check. That’s 35% Charlie Munger, the renowned billionaire investor and Warren Buffett’s right-hand man, has famously stated that accumulating your first $100,000 is the most challenging part of Saving your first $100k with compound interest involves you doing 75% of the work and your returns contributing just 25%. That first 100k is purely saved, compounding hasn’t had time to help grow it. And you would Is the first $100k the hardest? Yes, in both personal finance and investing building the first $100,000 account is the most difficult as it usually come from working a job, selling your time and labor for a paycheck. Dulocracy wrote: ↑ Fri Feb 27, 2015 6:17 pm The first 100k of net worth is the hardest for multiple reasons: 1) You get compounding benefits for subsequent milestones. I don't even pay attention to crossing $100k thresholds now since it happens fairly often (up or down!). Charlie Munger, the renowned billionaire investor and Warren Buffett’s right-hand man, has famously stated that Are you struggling to hit that first $100k milestone in your financial journey? It's not just a number; it's a crucial stepping stone to future wealth!In tod Just for reference, $100,000 in 1960 has the same purchasing power as $1,026,653 today. my subreddits. Chances are after 10 difficult years of saving Right now, my portfolio is over $500,000 but the first $100,000 were the most difficult to get because, of course, I started with $0, in a foreign country (Canada), with no family connections, no intergenerational wealth, no nothing. After the first 100k you normally have compound interest, promotions, and frugality practice on your side. So if you think of it, parang you have to do everything to get to that 1M. Time is on Your Side – The First $100k is the Hardest. 1 more years to save up your second $100K. Trey Sellers. 5 years By the time you The first 10 years to 100k are difficult because: Salary is typically lower. In How long did it take you to reach your first $100,000?Some of my favorite books: https://amzn. skool. 2M. The first 10k is the hardest. Learn the math behind why investing after 100 How do you make your first $100K? Tilbury suggests people follow what he calls the GROWTH method: G: Gain control of your finances. Once achieved, it becomes a pivotal point, signaling that anything is 'You gotta do it': the late Charlie Munger once said your first $100K is the toughest to earn — but most crucial for building wealth. Final thoughts. Or your first $1,000. I've also heard it said about the first £1m. Just get there first, then the While he also noted that earning the first $100k is the hardest, there are a couple investing insights to keep in mind as you work to get over that hurdle. They need do nothing but expect the interest on their capital. 7 years, compared to the last £100k, which would take 1. Once you reach that, the second 100k will come easier. ” Is that a comment you’ve heard before? Achieving financial independence is a marathon, and for many of us the first few kilometres Why the first $100k is the hardest🎥 Search "Leveling Up with Eric Siu" on YouTube to watch the full interview. Edit: everyone always says that the first $100k is the hardest. You could say the same about $50k or $10k. Thank you t The first $100,000 is the hardest. It doesn’t matter where the 100k is allocated, it is still the hardest regardless. technically yes Yeah def the first 100k is the hardest. investing your first $100,000 can seem The Challenge of the First $100K According to Munger. 2 Likes. Reply reply Charlie Munger: "Accumulating the first $100k from a standing start is the most difficult part of building wealth". I don’t care what you have to do — if it means walking everywhere and not eating anything that wasn’t purchased with a But for most folks, the first $100k is the hardest. But as someone who serves real estate investors as clients, it 4 replies to “ The first 100k is the hardest ” Pingback: Canggu Lyfe – Thoughts and Memories. If the market tanks, your $100k is worth less and might stay worth less for a few years. It took me like 6 years of savings and scrimping to reach that and afford my own home. 74 years quicker than the first $100,000, and if you like The first $100,000 is the hardest, Charlie Munger famously observed in the 1990s. 9. 10 years, that is 2. Five months have elapsed The first $100,000 is the hardest, Charlie Munger famously observed in the 1990s. In I Have A Podcast! Listen to the Average Money Podcast Here: https://open. The practices and habits you learn doing it however scale very well and the next mark at $500k comes pretty quickly. So it’s going to double much faster than it took to get there. 3 years to reach Yes, the first 100k is the hardest step. I was just referring to OP’s general agreed upon point that “the first 100k is the hardest to achieve”. Once you are at $100K compounding takes over and getting to a million is so much easier. Either way, I hope the market The first $100,000 is the hardest and most difficult part of building your wealth. If you play your career cards right the n th £100k may be a part of your nice year-end bonus on top of Did you know that saving your first $100,000 is one of the hardest financial milestones you'll ever face? Why does it feel like you're rolling a boulder uphi For some and most. But since Warren Buffet’s business partner first made his point, the satisfyingly round figure has taken on a life of its own. A few secrets can help make saving the first $100,000 much easier. This adversely impacts savings amount, not just the rate, but the total amount invested; saving 50% of your pay when you make minimum wage is doable This is why your first $100K is the hardest and the next is easier. 84 years The second $100K: 5. As Charlie M The first $100,000 is the hardest. Why your First $100k is the Charlie Munger famously said "the first $100k is the hardest" but in this video we're going to go through the maths to see if he was right or not. Let’s say you have $1,000 in a savings account But it is true that the first $100k was the hardest. 2) It's significantly harder than the next $100k for most people. it was the first million that took a while. I guess its pretty damn generic and can applied to anything - the first It is all luck. In this video, we share Charlie Munger insights on why your $100K is the hardest money yo Charlie Munger said, the first 100k is the hardest. Learn why saving your first $100k is the hardest and how to speed up the process. In order to jump to content. If you keep at it and continue to save $10,000 per year it will only take 5. Score: 4. The more money you can save, either My Journey to Saving $100K They say the first $100K is the hardest. Starting is the most difficult but also Very true, your first £100k will come from an entry level job and a few years of experience. The first $100K first 100k didn't take much time. Or $567K. But the second $1M took only three years. The first 10k is harder than the next, the first 20k still harder than the 40k and so on. The First $100k is the Hardest. Reply reply IAmInTheBasement • It's true. In this video, I go over why the beginnin The idea is the important thing: on an exponential growth curve, getting started is the hardest and slowest part. It’s all The first reason why achieving the first $100k is the hardest is because it requires you to take action and actually start investing. But once you reach your first $100k, it gets so much easier! Did you know this? Making your first 100K is the hardest step—not because it’s impossible, but because it requires a shift in mindset. To be fair, you can the first 100 can be a pain to get. but the second one is always easier, especially with investments. It’s all down hill from here. Just make sure you have a good investment advisor that From personal experience, the first $100k is hardest coz u are breaking bad spending habits to save that much. Overco 1) The first $100k is the hardest, and. ” Why exactly is it so hard to save your first The Beauty of the First $100k. When I was 23, I realized that if I pushed myself — got a bit uncomfortable to save and earn more while spending less — I So I typed “the first million is the hardest” into the top search engine and got the following as the first three results: Article #1: The psychological reasons why earning your first million is the hardest. Here are 5 ways to reach that magical milestone. After you My first $100k took 3 years, 7 months. Unfortunately, the recording failed so I won’t be able to The reason the first $100k is the most difficult is because it means you have to change your lifestyle to start saving to begin with. From research I have learned that getting your first 100K invested is the hardest, after that the compound intrest helps you along the way. I don’t care what you have to do – if it Why the First $100,000 is so Hard (And the Next is Easy)Charlie Munger, famous billionaire investor and Vice Chairman of Berkshire Hathaway believes that the I’ve always heard that the first 100K is the hardest. The first is always the hardest. I didn't start tracking Taxable brokerage on top of that allowed me to cross $100k NW by my 24th Birthday this year. year 1 was little bit In this video we break down the famous quote from Charlie Munger where he says the first $100k is the hardest, but that it gets easier after that. Consider a $100k portfolio earning 4% in annual dividends. Most successful people began by earning their first $100K in ways At first, these gains will be relatively small, but as your nest egg increases, compounding interest helps accelerate growth. If you really crunch down I think most incomes above ~50K a year will get you to 10K In this episode of the personal finance podcast, we're gonna talk about why your first a 100K is the hardest. It doesn’t matter what you’re doing in life. That's when I was single. Thu, Aug 24, 2023, 5:12 PM 6 min read. But if you get started, saving $100K is possible to do, even on vacation! How to save $100,000? Start! Happy dance! Our first First 100k wasn't terribly difficult but just took time working a job and saving. The first $1M took 9 years, 10 months (including those 3 years and 7 months). To do that a person must Making that first 100K is by far the hardest part. After you save up that much, it gets way easier to make more money. 1million is comparatively easy as you Why is the first 100k hardest? Asked by: Jaiden Dicki | Last update: February 9, 2022. Starting Munger has said that accumulating the first $100,000 from a standing start, with no seed money, is the most difficult part of building wealth. After that, compound interest slowly kicks in and continues to massively snowball your savings ability over the years. Really it's getting started that's hard, rather than [arbitrary number of pounds of savings]: 100K is just a nice round milestone. You will have many obstacles and wants to stop and cash it in. It's not particularly magical, but lots of people feel it as an inflection point in their rate of capital accumulation. to/3KF3tlrCamera & equipment I use: https://amzn. So going to 100k is harder than 100 to 200. That’s why earned income and expense management is so important in early stages of And to answer your first question, yes the first $100k is the hardest. Plus, there will be market setbacks, when the market makes your balance go down and As Charlie Munger said, getting the first $100k is a bitch, but once you cross that threshold, your savings begin to do the heavy lifting for you. The second and subsequent millions are easier, because your money would grow if invested. After starting my first job with a net worth of negative $60,000 in 2015 (AKA I had so much debt), I hit a net worth of $100k a couple weeks ago at Many financial advisers today echo Munger’s sentiment: Accumulating the first $100,000 is the hardest and most important. W: Weed out your Watch the full episode here: https://www. In fact, guru investor Charlie Munger even proclaimed “the first $100k is a b*tch. 2) Don’t be discouraged when it takes longer than expected to get to $100k. Summary It can be discouraging seeing how much time, effort and money needs to go into accumulating your first $100K. Most people start with modest incomes and many financial obligations from student loans to rent and other everyday And it all started from that first $100k I hauled ass for. "the first 100k is the hardest". That’s Have you ever wondered why the first 100k is the hardest to save? Years ago, Charlie Munger said that the first 100k is the hardest, but it's critically impo Re: Is the first 100k really the hardest? Post by tesuzuki2002 » Thu Jun 28, 2018 5:09 pm whodidntante wrote: Sat Apr 21, 2018 12:35 am This thread just keeps on giving. 19 years for Saving your first $100k with compound interest involves you doing 75% of the work and your returns contributing just 25%. It’s all down hill The first reason why hitting the first $100k is the hardest is because it requires you to actually start investing. The market is getting a bit stretched so I doubt we will see the kind of easy returns we have seen the past 6 or so years. e. We look at Mathematically, the first million is certainly the 'hardest' (i. In this video I’ll share with you how to make this happen fast. 01 years The fifth $100K: 2. Good for you, the first 100K is usually the toughest as people do not understand the effort Reply reply Anyone trying to save $100,000 should know it’s not easy, but it’s very possible. the longest) to obtain. 1 years The third $100K: 3. If you save $500/month and net a return of 10% annually it will take you The first k is the hardest. financialprofessional on March 24, 2024: "The first 100k is the hardest! : @thejoserafaelhernandez". Once you have $100k invested it will start to snowball and the returns will actually be higher than your additions. Really, it's the first $383K. Reply reply $100k when it was first used was the mental threshold he used before the snowball started really The first $100,000 invested is the hardest (but the most important) Bob Haegele . That’s more up to date, but it applies at any level, gets easier to make $$ when you have $$. Charlie Munger, billionaire investor and Warren Buffett’s right-hand man, has said that investing your first $100,000 is the most difficult part of creating The first anything is the hardest. com/audiobooksThe easiest business I can help you start (free trial): https://www. Saving or investing your first 100k is very difficult as at this stage in your financial life, you have very little money in the market earning you more money via compounding. You completed the biggest milestone, congratulations, now thanks to compound you will see your savings having an extra help coming from the first 100k. acquisition. The first 100k is always the hardest. But once you reach your first $100k, it gets so much easier! Did you know this? The road to your first $100K in savings or investments is a path filled with challenges and opportunities for growth. com/show/0ZK3zHsKt2xVNmW3PvXQNQ?si=9517f7ec94ef494e The first 100k is definitely the hardest in terms of gaining traction and building an initial audience/customer base from scratch. edit subscriptions Here is how I got my first $100K: Having the goal of saving $100K. FIRE BTC. normaly it is the first 100 who is hardest to get. Sign up to get updates from us By signing up, you agree to receive “The first $100,000 is a bitch, but you gotta do it. 1 Reply. Either Making your first $100,000 is the hardest because it restricts you to think within "time for money" opportunities, a constraint that limits business scalability. The hardest step is always the first step. See the math behind monthly savings and investment returns, and visualize the path to $100k. After that you start counting in 7 digits. The most difficult and longest period to acquire the first £100k took 7. The second The first million is the hardest. When I reached 100k, personally parang wala lang sakin since I was aiming at Why the First 100k is the Hardest (The Math Behind It)Ever wonder why millionaires seem to make money faster than the rest of us? It's not just luck or conne The second hardest part is staying with it and keeping up with your retirement. That math has not Lots of big investors like Munger say your first 100k is the real difficulty, that after that 1M is easier and so on. to/3Z20lofDisc The First $100k is the Hardest FIRE BTC Issue #11 - Gradually, then suddenly. To The first video takes a closer look at the mechanics behind this Charlie Munger quote: The first $100,000 is a bitch, but you gotta do it. It's the The first 100K was difficult but I imagine the next 100K will be much harder for us. Hard is measured with time. totally arbitrary number that matters relative to what your end goal is. Once you do save the first $100k, investment returns start to make life a little easier. As we can see below getting to the next $100,000 mark will take us 5. This is the main reason why I totally get it, your first $100k is the hardest and takes the longest. . How do Your first 100k is the hardest for a reason, bur today I will walk you through all the things you need to know to maximize your income, reduce your expenses, and get your Building wealth starts with earning your first $100,000, a tough but crucial milestone. I always thought that quote needed to be clarified into a percentage. Making the first million was the next big hurdle. Finally, you can add your own amount and returns using the MYB Early Retirement Calculator. 3/5 (30 votes) “Munger has said that accumulating the first $100,000 from a standing start, The first 100k, million, etc is always the hardest because to make the second, your first tranche is contributing income. I think the first 400k is the hardest, not the first 100k. Reply reply Different-Mind9570 • People usually are referring to the first 100k invested across all accounts, not They say the first $100K is the hardest to make—and it’s true! 💰 But once you learn the right strategies and stay consistent, the momentum builds, and your . Please share your story on when and how you reached your first 100k. R: Root your investments. com/gamesIf The first $100,000 is the hardest. spotify. Business Briefs - Get my free business newsletter for entrepreneurs: https://briefs. maybe not the first 10 but the first 70 subs after 20. Market Briefs - Get m If you've managed to save 100k what did you do with it? How did you grow wealth from there? I totally get it, your first $100k is the hardest and takes the longest. If you're increasing The first 100k is more difficult in the sense that there isn't much compounding at the beginning, but from my personal perspective it didn't actually feel difficult, probably Definitely, and I support that the first 100k is several times harder than the first million. You won’t reach it by thinking like a self Photo by Corina Rainer on Unsplash. com/watch?v=9RANfmkHhzM&tIn this clip, we'll answer the question - "Why is your first $100,000 the hardest t Hence why the first million is the hardest. Plus your paycheck is still on the smallish side usually and you Saving my second 100k is a lot harder, and I know some people say investing is the best way due to compound interest. :) this year i pass 1000 sub is in year 2. 33 years giving a total of 30. But don’t let that stop you. But to someone with 100k in a 5% GIC. Moving from 1 million to 1. I have some small investments in robo investors and Fidelity (just The first 100k is hardest and the next 100k is easier. Just since May 100K is kind of just an arbitrary "significant amount of money". You’ve done hard things before. See charts, examples Investing the first $100,000 into your investment portfolio is the hardest, but here’s why it’s the most important. And, that’s why the first $100K is the hardest (and longest). Learn how compound interest makes saving each additional $100k easier and faster after crossing the $100k threshold. If you’re starting from zero as a Usually when you hear talk about the first million being the hardest, it's because much of the second million is growth from the first. But if the market does great, having that first $100k gives you a tailwind. Trending: How to turn a $100,000 investment into Charlie Munger of Berkshire Hathaway has said that accumulating the first $100,000 from a standing start, with no seed money, is the most difficult part of building wealth. The first million is the hardest. I have verified the theory in a compound intrest The first 100k really was the hardest, but that’s coming from someone who hasn’t hit 1m yet Reply reply Saving is obviously important, but to me the first 100K (and setting yourself up to grow Hitting your first 100k is the hardest bc, much like a flickering light, it represents the struggle and persistence required. It requires discipline, patience, and a constant thirst Here’s how the timeline breaks down: The first $100K: 7. Got married a few years ago and realized the dual income effect. The last milestone is easy to replicate a second time. i lost a bunch of money between 0 to 1m on different ideas/ventures until i found one that worked. That first million is by far the toughest to make. The end result is that it takes you eight years The first reason why achieving the first $100k is the hardest is because it requires you to take action and actually start investing. The hardest part of getting the first $100K, is the money isn’t working for you yet. Charlie Mung Struggling to save your first 100,000? This video breaks down why it's the most challenging milestone to reach. Saving $5000 a year is difficult. And your first $100. The stock market is the Getting to your first $100K is the hardest step in investing. This podcast explores why it's so challenging due to limited early earning power “The first $100,000 is the hardest. Or $1. And it’s definitely not for the faint of heart. Or anything really. Saving the first 100k — no, I’m not talking about intangible home equity — is like hammering a nail in a brick wall; it seems impossible In this video, we explore how to save your first £100,000 and why the first £100k is the hardest but also why it gets easier after this thanks to the joys of But the 100k is the hardest is referring to cold hard CASH invested. To do Want my books for free? Go here: https://www. If that's all in stock, it's just a matter of time, if 75% is in Charlie Munger: Why the First $100,000 is Hard (And the Next is Easy)Famous BILLIONAIRE investor and Vice Chairman of Berkshire Hathaway, Charlie Munger beli Why the first $100k is the hardest🎥 Search "Leveling Up with Eric Siu" on YouTube to watch the full interview. Or your first $100. Reply reply More I don't think the first $100K is the hardest. After that, saving becomes a habit and it just becomes part of life. Share this post. co/business/jaspreet Check out my products: 1. Natalie says: April 20, 2022 at 3:15 am. Ask experts Why the First $100,000 is so Hard?Are you struggling to reach that coveted $100,000 milestone in your wealth-building journey? You're not alone. We are about to show you why the first $100,000 is the hardest and longest. Once you hit $100k, it gets easier, and easier, and easier. The next one The initial phase of saving money, particularly the first 100K, can be challenging due to the need for mindset shifts and financial habit adjustments. So if they also save $5000 a year from Why The First $100k is the Hardest (MIND BLOWING!) Compound Interest & Charlie Munger (right hand man to Warren Buffet and vice chairman of Berkshire Hathawa I talk about the math behind reaching your first $100k, up until reaching your first $1 million. And that seems to be true, at least for me. Discounting the impact of added contributions, at a 5% return, it would take 47. youtube. That is the range where Why The First $100K is The Hardest : Unlocking First $100K: Easier Than You Think Discover the secrets behind earning your first $100,000 and why it's often The first 100k is always the hardest ! Sadie “The Poetry Princess” (@sadiethepoetryprincess). And the same is true for your first $10,000. $100k is just an arbitrary number and it probably needs to be adjusted for inflation in 2020. The first 100k is always the hardest ! In this generation, 1M is the new 100k. It'll always be an exponential function. For my first business to generate $100k in profit took about a year and lots of work then I learned how to build Charlie Munger famously said that accumulating the first $100,000 is the most difficult part of building wealth and in my experience so far this is true. 78 years The fourth $100K: 3. This is true of the first $100k if your goal is $1M, or for the first $1M if your goal is Saving the first $100,000 is the hardest. It requires an incredible amount of hustle, Because that first $100,000 is truly the hardest to save. Dec 12, 2024. I Last night I taught a brand-new advanced goal setting class for real estate investors called Real Estate Investor Rubicons. O: Optimize your tax management.