Why Net Worth Explodes After $100K

Discover why reaching a net worth of $100,000 is a pivotal milestone in wealth accumulation. This short breaks down the principle of compounding and how initial savings efforts are amplified as investments grow. Using a hypothetical scenario of saving $10,000 annually with a 7% market return, it illustrates how the journey to $100K takes time, but thereafter, compounding accelerates wealth growth exponentially. Insights delve into the discipline required to resist spending impulses early on and the rewards of long-term financial planning.

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[BenBring]

I actually hit 100k nw yesterday. Biggest lesson is boring is best. Lost money on crypto and trying to trade stocks. Best returns on etfs and buy and hold stocks

[OkStop]

That’s true. Most boring and straightforward people are the ones that build wealth the fastest.

[stevelutsk]

I’d rather be boring and secure than frivolous and stressed.

[cxa]

Also, medical bills. Some people think people are just blowing money, but the cost of living just a basic life eats up a lot.

[HighAvenger]

Compound interest is a powerful force. Which is why the US national debt should be americas biggest concern.

[hornetguy]

This is why people say “don’t buy lunch, make it at home”. Every cent that you don’t spend on convenience and fun can go to something that builds wealth, or at least reduces the amount of debt one needs.

[mariarooney]

Yes, Pat is correct. It’s very difficult and most people aren’t able to deny themselves to teach that financial freedom.

[EricS-qm]

33 years old here. Has taken me 10 years and 3 months to get 210k in my retirement. Keep grinding

[jaeen]

Net worth does not explode after $100K for everyone. You still have to keep grinding.

[American.Patriot]

You don’t have to be boring, you just have to develop a system in which you can live life within a very specific budget that allows you to still live life, yet save a fraction of what you earn, and also have the discipline to not touch the money that’s making money for you. However it is impossible for some ppl to achieve it when everybody around them are living like millionaires yet everybody is in debt.

[Kevin-fnrm]

I’m almost at 50k and he’s right, I live a very simple life although my pay continues to increase as the years go by

[donhtb]

I spent 8 years saving 31% 401k. At times i felt like i was living poor. Now so happy i did it. My advice if your working save what you can.

[T.C]

It's easier because by the time you've made 100k you've probably learned enough to know how to make more than 100k

[school]

I love the fact that you kept it so real in this video about what most people cannot do. It’s so true Patrick. So true. Wealth is a long game, most ppl can’t wait.

[RePetesBees]

So very true. Debt allows people to rush and get ahead of themselves. Making it even easier to loose track. Make your money, earn more money. Boring, doesn't mean unhappy.

[Abdul_Rahman]

My portfolio actually began to explode when it hit 25k.
I kept investing into it and reinvesting all the dividends

[champian]

These lessons are so underrated. Thanks Pat. You are the man and I love that your crew can see it.

[YoutubeStyleChannel]

They really skipped over the fact that it would take 29 years to get to $900k at 10k a year compounding at 7%

[allanragpa]

It’s called determination to get the first 100k! It’s not boring ! It’s actually exciting that you are getting ahead as compared to those who like instant gratification!

[LauraDiamondWise]

Creativity is key. Besides what’s boring to one might not be boring to another. It’s a matter of patience, yes, but also realizing that fun is about thinking outside of the box, being imaginative, inventive, and innovative, and it doesn’t have to cost that much, if anything at all. Know who you are. Are you someone who can’t have fun unless you’re the light of the party? Then prepare to be broke. Or, are you someone who can enjoy time alone, a walk in nature, time at the gym, creating fictional stories that are adventurous and fun, if so, you should be just fine.