Charlie Munger: Saving 100k Will Change Your Life

Charlie Munger: Saving 100k Will Change Your Life

For most people, the idea of having a six figure net worth is the ultimate mountaintop: scary, perhaps reachable, but only with great preparation and a lot of hard, slow climbing.
But those that have made it to that first $100,000 often say that the next 100k is much easier.
Why is that first milestone so difficult? And how do we reach it faster?
Charlie Munger is the vice chairman of Berkshire Hathaway, the investment conglomerate owned by Warren Buffett.
He’s a billionaire, but he has some clear advice for those just starting to work their way up the tax brackets:
“The first $100,000 is a bitch (bleep out), but you gotta do it. I don’t care what you have to do… find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.” (can
You might think that with billions in net worth, Charlie had long ago stopped thinking about hundreds of thousands of dollars, but apparently, he still remembers that first 100k as a major battle, the biggest in his life.
Why is it so much easier to build wealth once you hit that first one hundred thousand?

In today’s video we look at Saving 100k Will Change Your Life…Keep waiting to see why $100k will lead to your first Million.

Subscribe for Real Estate, Banking, and Finance.
Inspired by: Graham Stephen, Proactive Thinker, How Money Works, and Chris Invests.

Inspired by:

Proactive Thinker - How Saving $100,000 Changed My Life

Chris Invests - Why the First $100k is so Hard (And the Next is Easy)

Thomas Goldstep Finance - Charlie Munger: Why your First $100k is the MAGICAL number for Generating REAL WEALTH

Alex Hormozi -
Why The First $100k is the Toughest - Charlie Munger Secrets

At Money Center, we will go through Real Estate, Banking, and Finance.
Inspired by: Graham Stephen, Proactive Thinker, How Money Works, and Chris Invests.

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[themoneycenter]

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[Norrieey]

Just reached 21.000 after 1 year of savings and now 3 months of steadily investing in ETF.
Can't wait to reach 100k.
Zero debt, zero credit card ever.
Piano teacher.

[jameswood]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life

[williamyejun]

This is amazing. “How to build wealth”

[Oliver-Lucas]

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.

[lawerencemiller]

I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 38, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.

[gregorywhem]

I want a balanced portfolio, with growth investments, safe investments, and also a focus on dividends to gain up to $20K monthly with minimal risk. is this your strategy sustainable?

[Raymondjohn]

Didn't Charlie Munger and Warren Buffett invent the strategy of buying/investing when the market is low and also buying/investing when the market is high? As Warren Buffet said, he has seen this happen many times in his life. Not an investor. My wife and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $4M. We have never sold so much as one share of stock...

[Patriciabanks]

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

[meredithelbert]

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 Emily Lois Parker. 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.

[Number]

100k in his time vs. 100k in our time is a BIG difference.

[gingerkilkus]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol.

[codeblue]

As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?

[ludwik]

This channel will explode. Commenting for the algorithm

[BenjaminMcLeod]

The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or saving my earnings to achieve this goal?

[marcwareham]

The S&P on average doubles every 7 years. So the second $100k takes 7 years without adding anymore. Then 3.5 years and so on.

[shaktijitdave]

So true. So many more temptations as compared to investment wisdom and application

[JakeSlaughterr]

Nothing is easy but compounded good habits leads to success. Easier said than done and that’s why there’s so few millionaires that stay rich

[graceocean]

Someone said the optimum time for a financial breakthrough is now, especially with inflation at a four-decade high. I have about $250k in my portfolio that is stagnating and needs to increase. What is the greatest strategy to capitalise on this downturn?

[Mhousley]

Use time, low cost, compound interest, dollar cost averaging and diversify into etf or index funds!…