Why The First $100,000 is So Hard But The Next Is Easy

Billionaire investor Charlie Munger may be the most famous advocate for the theory, based on his colorful advice offered more than two decades ago to an audience member at an annual meeting of Berkshire Hathaway shareholders.

Respected investment and money management experts agree that amassing your first $100,000 is a critical early milestone on the path to long-term wealth.

“It’s a b—-, but you gotta do it,” Munger said. “I don’t care what you have to do — if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.”

The first $100K is so hard but the next gets much easier due to increased compounding gains

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