Why Everything Changes After You Save $10,000

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Timestamps:
00:00 why it matter
00:54 Reason 1
02:03 Reason 2
05:30 Reason 3
06:12 Reason 4
06:55 Reason 5
08:13 Reason 6
09:13 Reason 7
10:19 10/1 Rule

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FINANCIAL DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

[jayocean]

For the average person 10k is a huge milestone 🎉

[DansonforJoy]

“Cutting out coffee SHOULD NOT BE anything that gets mentioned ANYWHERE along the process. Never cut out coffee.”
Amen to that! 😂☕️

[BonoboMonkey]

Money doesn’t buy happiness.
It buys you peace of mind.

[lorilustica]

Remember: it isn’t what you make, it’s what you KEEP!!! 😊

[ryanjamesr_]

Just got my emergency fund to $20k and I'm so at peace. Been watching your vids for a while, huge help!

[MaxWell-ppzs]

This is a reminder to address my financial concerns sooner rather than later. I believe it's unrealistic to assume that just continuing to work for the next few years will automatically ease those worries when I'm older, or when retirement and ageism finally come into play

[spencercartwright]

After achieving my first 10k I confirm it does make a massive difference. I have the stability that the 10k provides me in the back of my mind which helps me with daily positive decision making. However it is also a catch 22 as I really do everything in my power each and every day not to touch that 10k, continue to add to it and watch it grow over time.

[SamanthaRosalie-eg]

I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Brooke Miller for helping me achieve this

[germanalcomendas]

I saved 10k savings as an emergency fund and after that everything just changed for me. I started to be more aware of my spending and it made me save more for investing.

[The_Floo_Network]

Ouch and Boing is a quote from White Christmas!!!

[WarriorWoman]

How about a video on saving a little every month for the kiddos? Investment suggestions. I would appreciate it for my grandchildren.😊

[stevebubar]

I so enjoy saying no to overtime. That is a reward you earned by hitting that 10k goal.

[garyish]

The psychological effect is 100% true. Last year I crossed 1M at the age of 38.. feels a level up.. and frees you up mentally to travel, eat out more etc, now I am at 1.1M and it doesn’t feel any different.. I guess 10M will change that.

[jackester]

You're so right about the difference between "can I afford this?" and "should I afford this?" I never had a phase of operating on the former, but I feel like fundamentally that is the difference maker. The mindset of perceiving the benchmark for affording something as being when you can get your hands on the amount of money that allows you to purchase it is disastrous. There is such a huge opportunity cost whenever you purchase beyond your needs, especially when young.

[LivingProcess]

Brilliant as always 💚 looking for a side hustle just for saving. Have a Favorite day ! Always look forward to reading your posts.

[aimee-made]

Love this. Also, almost certainly the reason you can save faster (8:13) after that first $10, 000 is because if you don't have to charge a $2500 unexpected repair bill, you don't get hit with all the finance charges that completely sap you economically. (If you don't have the money when the repair has to happen, it's not like you're going to magically have it in a month when the credit card bill is due, so there you are, carrying that balance again....)

[jacquiquinlan]

I honestly feel like my first $10k didn't do that for me sadly. I think one year of my annual salary will be the HUGEST part for me to feel the difference. Too many crazy things happen in this world.

[itsjustjrdan]

thank you for your content. i’ve learned so much from your videos!

[elyoutubehaj]

I woke up to the tragic drawbacks of our debt-based financial system during the last financial crash. Through discipline, determination and Abby Joseph Cohen my financial advisor, I was able to retire recently in my early '50s with a bit of land in the Williamson act on the California coast and an investment portfolio that can sustain my daily living. I try to spread the word and encourage many people I meet it is possible to achieve the goal of independence. Living below your means can be enormously rewarding!
Practice humility and above all, Invest in the financial markets with expert guidance.

[chrispowell]

Thank You Gabe, you're an awesome guy!