Why the first $100K is hard, but to get to a million dollars is easy after that

Getting to your first $100K is the hardest step in investing. Once you are at $100K compounding takes over and getting to a million is so much easier. How do you get your first $100,000? Crazy ways my family makes an extra $1,000 per month.
Charlie Munger: Your first $100k is the hardest.

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The crazy ways some of my relatives have found ways to make $1,000 extra each month are what they have done after doing their own due diligence. I am not advising in anyway to do the same thing as they are just a few examples and I have no opinions on the matters regarding any pharmaceutical research or products.

Disclaimer and safe Harbor statement:
Topics discussed may include predictions, estimates or other information that might be considered forward-looking and results are not guaranteed. This is not individual investment, legal, or tax advice. Investments can lose money. Make sure to complete your own due diligence and work with licensed investment, tax, and accountant professionals when making financial decisions. Financial Freedom 101 is not responsible for any of the financial decisions that you make. Financial Freedom 101 typically has investments including, but not limited to positions in diversified ETFs and mutual funds such as SPY, VOO, SWPPX, FXAIX and others which may contain holdings in the companies discussed. The content of this video is for entertainment purposes only.

[AdamWrightfool]

This year is going to be worse than the last, no doubt about it. Due to poor investment decisions that I would not have made if I hadn't been so concerned about my portfolio, I lost a significant amount of money last year. I continued to invest, but I was undecided about whether to begin making house payments. I eventually sold my jobs, and the house required more work than I had anticipated. I'm not sure how much longer I can continue in this manner.

[Dantursi]

I wasn't financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly basis via my investment and got 5 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this.

[peeweeaim]

Listened to this on my way to work today, very popular concept and one of my favorite of Charlie mungers teachings, great video again!

[Lotrhome]

32 just hit 40k which is not a lot to some but man I wasted my 20’s

[rudyjean]

I'm 34, hopefully I get to a million this year or by 2025. It won't change my life but I'll at least be able to have a peace of mind that my family will always have a place to stay.

[JustinHyneswashplant]

Really like the overall channel. Great work

[blaze]

Practically speaking, it feels like getting to 1m is harder than 100k. 100k all you have to do is know how to save money. But after that point, you either have to find a mentor or burn money/fail till you figure out the next step

[Lolatyou]

100k felt pretty easy as I was never a spender and out of college I really didn't like to spend money so just invested it all.
Saved close to 200k in about 5 years, should take another 9 years or so before I can hit 1M total investment assets though.

[tvb]

26 years old and not interested of becoming a millionaire. (I just think its over-rated).
I have $120k in savings generating almost $500 a month.
$20k in shares generating $90 a month.
Full time employee only work in warehouse making $4700 a month, or $5000 in a good day. (We talking Australian dollar)

Im focusing in shares right now dropping $2600 per month in a good day. Once my shares start to generate $800 a month. I will drop from working full time into part-time and start enjoying life and focus in other things.
At the same time. I will add more deposit and throw those savings in my first rental property.

Retirement with a million dollar is boring AF.
Semi-Retirement is the king :D.
All this should be done at age 28 or maybe 30.

[financial_freedom]

Just realized year 45 should be "2, 000K" instead of the "$2, 00 K" shown as the zero was missing.

[lilfairycupcake]

your first 100 represents, now you know what you are doing. the entire game has 0 to do with money, but what you know, how to apply what you know. im totally self taught, started 4yrs ago, screwed up a lot, and lost a lot, but learned. its funny how your average person is utterly frightened by the market, and loosing. fear is what keeps the upper echelon in control. one of the things ive taken from elon musk book is, do not be afraid of failure, failure is just one aspect of the learning, success, curve.

[CountryKyle]

“It’s easy.” Just wait 35 years….

Literally could not care less if I had a million dollars in the bank 35 years from now. All the good years of your life are already over.

[dylanroberts]

I’m 31 as of rn I have $17, 655 in my Roth I rolled over 11K from my 401k about this time last year so I’m doing pretty good. Hopefully I’ll have 1 million by 59.5

[Robby]

the initial journey to accumulate wealth can be challenging, but compounding plays a significant role in accelerating wealth growth over time.

[BeatsByLoFi]

We can’t simply subtract inflation from our return. This understates the detrimental impacts inflation has on compounding. We must use the Fisher Equation to gain a more accurate return

[annihilationHaven]

It's more a question of motivation to me. I just haven't found anything that motivates me except for an institution that doesn't exist yet. Becoming financially dependent on others isn't a goal of mine, but I speak for myself, I realized 10 years ago that people have much more value, but it's people with a healthy skepticism more specifically because I've learned those are the only people you can trust.

[UptownMike]

You're right getting to 100K is hard. The problem is that we buy expensive homes and cars. As for the home, you can sink a lot of money into it. Is it worth it?

[mohibquadri]

Does niching deep down in our field as engineer to become expert in certain area opens the door to earn the most money ? What are some other best ways to create massive success in corporate world and any top books suggestions about it ??

[Anime-Shorts]

Can you make a video on how to set up a YouTube channel and how much you can make etc . If you don’t mind

[joseph]

I love my Roth Account.i put 150 per week into the account and just watch the money grow for me.i dont worry if it goes down because thats just the market I look at if the market is down thats a gift from the market gods it means I get more shares and a discount.