The Crippling Challenges Of Saving Your First $100,000

The Crippling Challenges Of Saving Your First $100,000

Saving your first $100,000 is a significant financial milestone that represents discipline, perseverance, and wise financial decisions. However, this journey is not without its challenges. In a world where expenses seem to multiply and unexpected costs can arise at any moment, reaching this goal requires careful planning and a strong commitment to your financial objectives.

[Juniper-Brielle]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...

[jeffclifford]

THANKS. Just what I needed to watch. My wife and I are administrators of our farming business and our own properties, as well as small pensions.
am almost 56, my Wife is 52. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 3 million bucks.

[wwalter-yy]

This seems like the worst period.
Even the market are now very unpredictable. Started investing recently when the market prices were a bit high, today I am more than 60% down!

[PatrickLloyd-]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.

[TheFirstRealChewy]

I'd say saving 1x your salary is a huge accomplishment. It means you have the fortitude to keep saving instead of succumbing to lifestyle desires.

[larryronhartfield]

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 $2.2M nest egg. 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.

[GillerHeston]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[sandra]

Great video! For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[bernadofelix]

So much knowledge! Absolutely free! I was never taught anything about money, I am praying and working to change that. I am 46 no retirement no savings because I made a lot of mistakes when I started investing, trying to correct that now. Already have a few thousand$ saved up to invest for long term. I would like to know what advice you could give to start my investing journey. Listening to you gives me inspiration and wisdom. Thank you so much!

[ChrisInvests]

Have you already saved your first $100, 000?

[Jennyuk]

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly—which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio.

[braytoncornell]

It is always good to have a financial plan. I work with a professional planner and fixed-income strategist in USA The fixed income portion of your portfolio won't simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.

[dantheman]

I remember my first 100K now I have 7 figures. It’s a very nice feeling 😊

[RobertBrown..]

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.

[veramonique]

When it comes to trading/investing, we want our money to grow with the highest rates of return, and the lowest risk possible. While there are no shortcuts to getting rich, there are smart ways to go about it.

[taylorgreen]

This has nothing to do with the video but i couldn't afford rent 2 years ago, now i can. Couldn't buy a tesla a year ago now i have both a tesla car and lots of tesla stock, my point is building wealth is in your mindset, work on that and your financial potentials becomes exponential, develop good habits like avoiding debt, cutting costs and regularly putting money away in intervals for investments .The stock market has plenty of opportunities to earn..I was able to grow to 7 figures on a diverse portfolio strategy spread across bluechips, top etf’s and coins. my broker Emily Lois Parker, handles all my investments and ensures I stay above the market

[c.t.u.o]

The market is more volatile than ever. I've been holding cash since '20 pandemic crash, but just went "all in" bought up $250k worth of ETF's & individual stocks at discount, and hoping to average down on ailing companies, i'd still entertain recommendations to achieve such.

[cleanairninja]

Another reason it's hard to hit the first 100 grand... stock market reverses, corrections and crashes. A friend of mine has been near 100 grand a few times and then had the misfortune of bad market timing. 2 months ago he was just 4 grand away from 100 grand. Now he's 17 grand away.

[martinrbookermb]

Charlie munger actually said "Saving your first 100 thousand is a Bit$h" but I'm thinking you already know that. And he was right it is. Especially when you basically have to save 90% of it yourself before compounding takes effect in any meaningful way.

[chrisleaf]

I wasn't even trying to save that much, years just went by and I was trying to save as much as possible. I grew up poor and was dreaming of living differently.

I set new milestones everytime I passed one and eventually made itnto 100.

I'm not used to nice things, buy a car, don't go to restaurants, movies, malls, clubs etc. I had no life but that was ok because some of those years were during the pandemic.