Why your net worth explodes after you make $100k.

Why your net worth explodes after you make $100k. 💰 #millionairemindset #moneymotivated #spendinghabits #wealthy #wealthymindset #millionaire #richlife #moneytips #moneytoks #moneymindset

[montyi]

It's important to keep saving and investing even after saving $100k, that's the key.

[miracleman]

I had about $400, 000 in the S&P. It went up 25% last year. Easiest $100, 000 I’ve made. I didn’t even realize it.

[Guss]

The best explanation ive ever heard thank you!

[fturla___]

This concept explains why people that come from wealth have a much easier time getting rich faster because they can borrow or are given the 1st step.

[_jacobdyck_]

My business teacher always said making 2 million was easy, it’s the first million that’s hard.

[SamKesslerMedia]

Proud to say I’m at over 60k…by the end of the 2020’s I’ll be doing way way better.

[Ncharlop]

Wait I think you skipped the part of getting from 100 to 900k 😂

[mocheen]

Both of my kids worked and saved in high school. Each one had approximately $10, 000 invested in their Roth IRAs by the time they were seniors in high school. They are still contributing even in college.

[derandreas]

The first million is the most difficult one. 😂

[tenningale]

Because when you're poor, your life expenses eat up all your income. Once you hit a certain level of surplus, it's like a machine (if you're thoughtful and careful).

[kylehayes]

I don't have much saved but I did just pay my. Mortgage off at 32 years old this last December 🎉

[kokalti]

Don’t forget, even after that 100 K it will still take many years before you can even consider living off of your investments

[sayyer]

Damn, if I were financially literate during my teenage years and follow this principle I would have been a millionaire today!!!

[andrewmarusic]

Except 7% per year does not happen. It's -10% one year then +18%, etc, so the growth doesn't happen with such smooth, geometric proportion.

[Putra-mxzx]

Thx for sharing, one of the best explanation I've heard on this topic

[nicksmith]

Nvidia helped to speed things along for me the last five years. Hitting each 100k mark in less time even with a flat 2022. Working on minor rebalancing for whenever the next downturn hits.

[rayc]

I’m at 500k. First 100k was very easy. It’s the 1 million that I’m having trouble reaching

[CliveBirse]

Everyone’s been preaching investing lately as a source of passive income but with a 70 hour weekly jobs and limited knowledge of financial instruments, how can I actually stay on top of things, I see every YouTube video saying BUY BUY! But when and how do I sell for profit at the right time?

[joshmiller]

He’s basically explaining compound interest, which is a very powerful tool. Kids these days watch all these influencers who promote real estate nonstop. Real estate can provide income, but it’s not compounding.

When you have a million in the stock market, you can easily make $150k or more in a year, and the first about $80k are no federal taxes, and anything over that is taxed at 15% federally, when you sell the stock. You have so much control over when you realize the gains by selling stock. Compared to being a landlord which is taxed at a much higher rate, has much lower returns, requires work, and is not compounding.

People need to understand the power of compounding growth. It’s like getting a 10% raise at your job every year.

[CFLDumpsters]

It’s such a shame folks say “it’s to hard, so I won’t do it at all” instead I will just keep buying Starbucks and contribute nothing because it will take a lifetime and I will be too old. A lot can happen in a year much more over 20 years. Imagine contributing what you can, and then dumping every windfall into that fund over a decade. Tax refunds, bonuses, side hustle cash, etc.. 100k happens faster that you think.