Charlie Munger: The First $100k Is The Hardest

Charlie Munger famously said that accumulating the first $100,000 is the most difficult part of building wealth and in my experience so far this is true. In my last portfolio update I mentioned that even though I hadn’t contributed any money to the portfolio in the last month, the portfolio still grew by more than I had previously been investing each month. This is compound interest in action…

Disclaimer: All information or suggestions provided are for entertainment or educational purposes only and should not be taken as personal advice. While the information is believed to be accurate, it may include errors or inaccuracies. Always do your own research or consult a professional before making any investment decisions. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest.

[TheMoneyPlantChannel]

"I don’t care what you have to do – if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100, 000. After that, you can ease off the gas a little bit.” - Charlie Munger

[ChrisInvests]

Well explained. It's very satisfying seeing returns outpace deposits.

[DimitrovDani]

Videos like this make me think about a lot about saving and investing. This is maybe the best youtube channel that I have subscribed. Simple, short and useful. Keep going !

[mrdojob]

Getting to £100k took me years. I bought my first house at 21 and let it out. I carried on and bought another 5 years later in cash and also paid off the the first finally reaching £100k Now I'm over £200k and it only took me about 2 years to go from 100k to 200k by buying two more houses in the process.

[GNYC]

I really love your channel. Thank you for your content!

[jesuspajarilla]

Awesome explanation! I hope I’ll get that first 100k sooner.

[Lord_Saruman]

I guess given past inflation since he said that we could update Mr. Munger's quote to the first 200K nowadays :-)

[tommyhendo]

I got ton100k in December of 2021 and haven’t been back since although I agree with the logic in the video. I think I spent five days over the 100, 000k mark before the rug got swept out.

[beautywithinsherry]

I opened a vanguard general account. I'm wondering whether I should sell those investments and start again in a stocks and shares isa. I'm concerned about the interest I will experience once the account grows. Or maybe I could leave it and start investing in the isa. Do you have any tips for people in this position.

[rcrbrewster]

Banks killed the compound interest idea.

[chadnasir]

Now $1 million is a pain in the ass to get

[bobbobblesworth]

Got to my first $100k in about 20mins. Thanks NAB Equity Builder 🤣 paid off in full in about 2 years as it’s forced savings. Don’t think I could have/would have done it without that incentive.

[benwhiteside]

£480, 000 invested for 2 million return over 40 (!) YEARS is terrible, in my opinion.. Highly recommend reading the Millionaire fast lane by MJ deMarco