How I saved $100,000 by 24 (tips for your 20s)

Welcome to the first finance video of 2022! I hope you enjoyed this one. Over the last year, one of my biggest goals has been to build my financial literacy. In this video we discuss how I saved my first $100,000, 4 major ways to save money, and whether or not to invest money you need within the next 3-5 years.

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[almond]

Just wanted to come on here and say that I knew Miki in high school and she was one of the hardest working people that I knew at the time. She made sacrifices and worked smart. She's not just someone who has privilege (though it might come across like that in this video especially considering she doesn't mention student loans) as she has earned everything she has worked for. Congrats on all your success Miki, much love!

[tylerforeman]

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 Olivia Rene Reyes. 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.

[ely]

I liked that you taught us the old school style, not thru cryto and nfts. Because not everyone is into virtual currency. And when you got your savings the first thing you bought is a house. Way back 2018, I was 24 too and the first investment I made was a hilltop vacant lot. Been paying the mortgage ever since and Im almost there, with my soon to be husband.

[starlet]

Miki has explained in past videos that she has no student debt due to her scholarships. She has definitely worked hard

[aylincastaneda]

I’m a senior in highschool taking Financial Literacy and everything Miki said is exactly what my teacher taught us !! This is really good advice that can take your finances to the next level. Thank you sm for sharing <33

[khalilahd.]

Woah. You had me at the title 🤯 as someone who is still navigating financial literacy THANK YOU for this video. So informative 🙏🏽💜

[justilynn]

Just want to tell everyone not to compare yourself to her. It is a great video for someone in her situation but the average person making minimum wage makes around 20k a year which means you would have to save 100% of your salary for 5 years to save this. Also, if you graduate at 22 and have student loan debt and an average starting salary you will likely not even make 100k the first two years after graduation. I think it is supposed to be motivational though so take it with a grain of salt and adjust it to your life situation!

[rennik]

Miki has been working and saving since she been 16 years old, putting in the WORK and budgeting for yearsss it’s not all about having a big income and being an influencer. There’s people with a huge income but barely have any savings bc it’s about money MANAGEMENT. Vids like these should help you look past “people have privilege” and learn how to navigate your own personal money management. Sacrifice yields results, it’s all about how you approach such concepts. Thank you Miki for sharing your experience to hopefully inspire others!!

[OhNoNotAgain]

She does a good job explaining how to focus on what you need rather than what you want. I don’t see any repayment of school loans. I’m guessing that her family paid for college? Not many 20 something’s will have a $100, 000 job and no college debt. It will probably take most people a lot longer to save that much, but we all have different situations. A lot of her viewers are probably well served by her focus and her fiscal discipline.

[duskshadow]

I know a lot of people are probably paying their student loans for years to come. One advice I can give is that, if you can, please try to go for community college to get as many general requirement classes out of the way as you can. In many cases, a community college offers smaller environment than a university because it's generally about 30 - 40 students per class, instead of 200-300 students you would get at a university. Plus, it's WAY cheaper. Even if you were to start as freshman in a university, you're still taking all the GEs your first two years, except you're paying hundreds of dollars more for a classroom size of 200+ students where the professor probably doesn't even know your name.

I went to a community college in California back in 2011 and I was only paying $50 per semester while taking full unit (around 16 - 18 units per semester) because of the waiver I was able to get through State of California. Then I transferred to a university for the upper division courses. I was able to save a lot of money this way and avoided student loans.

[alibaebae]

Miki you literally always make THE MOST informative videos PERIODT like the practical value for this type of advice is through the roof thank you so much queen 💕💕

[DianaMillan]

Congratulations on your success and thanks for sharing this with us, Miki! I’d love to see more videos about finances from you in the future.

[sda]

Not yet done watching but will definitely apply these tips even though I'm already in my early 30s! 🤑

[gen]

Thank you for sharing your knowledge and tips with us! I’ve noticed that you didn’t mention student loan debt…not too sure if your education was covered by your parents. However, in the case that it wasn’t, would you be able to explain how you tackled your debts in a video? Thanks again!

[LaurenKim]

Super informative and agree with you as another nurse who's in the beginning stages of financial literacy!

[ashleykim]

i can see people commenting how she didn't mention about student loans.

i think this video can be informative for the following reasons:
1. try to see where you can lower your expenses by looking at how much you have been spending in each categories (i spent more time making food at home than eating out)
2. try to find a side hustle and don't spend that money on your necessities
i tried to spend my necessities, including, student debts on my full time job and saved all of my money on my side hustle (which is a seasonal part-tim job).
3. have a savings account: i started off with a regular savings account because i didn't have the minimum amount to have a high yield savings account

you may not reach the goal she did at her age because everyone's situation is different.
instead of comparing, just remember everyone goes at their own pace and time
i think these are good tips to start saving any amount for any age

hope this helps!!

[moneytalkwithj]

Thanks so much for sharing Miki! Absolutely TIME IN the market beats TIMING THE MARKET!
I agree, you should always invest in what you know and are comfortable with rather than investing with money💰you might need in the near future! 😊

[chelseasszn]

THE TIMING OF THE VIDEO COULDN'T BE MORE RIGHT. i had my pen and paper in hand. Looking forward to building my financial literacy this year and moving forward

[mihaelaclaudiap..]

The title it's already mind-blowing! Some people need 2 lifetimes to save that amount of money, imagine doing that by 24!! Impressive Miki and well done! 💯👏😌

[emilyencapsulated]

I love this new financial content, Miki! I'm honestly glad that you didn't end up pursuing an MBA. You already have mad money skillz😉 Seriously, though, you have such a great understanding of cash flow, money allocation & investing, and business management. If you ever decided to go corporate or work in any kind of organization, any employer would be thrilled to have you & your business acumen!