Saving Your First 100k Before 30 | Long Term Strategy

The more impossible something seems the least likely you’re going to keep trying with the same level of intensity. It's like the first I took my little sister bowling. She loved the game when I was taking it easy on her, and then when I lit her up she no longer wanted to keep playing, I broke her.

Same thing goes with money, a lot of people think that it's impossible to get 100k, and a lot of people think that 100k is no big deal or even 1M, so what's the points, exactly they never try. So before we even get started here, I gotta tell you, 100k a lot of money. The average 48-57 years old has 48-59k total, so for you double that by the age of 30 is amazing, not easy and super crazy.

My goal was 100k by 25, and I did it by 22-23 I think, and by 25 I had net worth of half a million, and let me tell you something, the price was too expensive. I Could have done a lot better, not money wise but life wise.

So let's break down how to get to your first 100k by 30 in investments.

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1. Educative Strategy: Skill (College, Trade or Certification in Something )

-To save 100k by the time you turn 30, while you make minimum wage and pay your bills

-It's like trying to swim underwater with a life jacket

-It makes no sense

The idea you could be in Trade school or college for 2-4 years and be 26 years old graduated

-Sounds to me initially like a massive waste of time, but if takes my income from $7-15 bucks an hour to good wage of 20-35+ an hours, that speed things up a lot more

-And in 4 years saves 100k in no problem because you’ve made so much more money

-And don’t forget while you study you can also save, even it’s a little a still goes a long way

-4 years of school saving at least $50 bucks a week, is $10,400, and at 12% return its nearly $14k.

The idea is Simple:

-Invest in yourself and run the numbers, if its going to take you 4 years to qualify for a 80k job a year that after taxes is going to be $56,000 a year you can save $20,000 a year and live of the rest, then that’s awesome

-But remember don’t be an idiot, having 100k means nothing if the money does nothing

-You have 100k distributed like this, fully funded emergency account, investments account 10-20% of your income and the rest savings for a home

2. Investing into the Stock Market

-How much money do you have to invest to get 100k in 10 years and 5 years

-Use money goal calculator to figure out this math according to your income ( I recommend you only invest 10-20% of your income max, focus the rest on savings for a down payments or to pay off a property faster )

-No Mortgage, means more cashflow and more freedom + massive safety net

For 10 years at 12% return in the boring portfolio:

-You need to invest $474.85 ( that means don’t buy a stupid finance car, and use the money you would fo that for your investments and in 10 years you’ll have that )

-And all this money would be tax free if you put it into a ROTH IRA

-Search ROTH IRA tommy bryson on YouTube

5 years you’re talking about investing $1,311

-And for that to be 20% of your income you have to have income of $6,555 per month ( which is ton of money )

My advice is:

-Be realistic, when you run a real marathon, you can't lie
-Because if you start of too fast you will blow up along the way
-But it's better to start slow and build up and finish the goal, than not be able to continue

3. Equity and Net worth

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

[Nisa-gmwg]

Wish we had someone like you when I was in my twenties. I’m right at 50 and we have been doing exactly what you have said since age 38 to 40. We are completely debt free (home too), a 1 year + emergency fund, 3 kids funded for college and retirement is looking good too. It’s never too late to start. I shared your channel with my son who is 23 and is in grad school for Architecture. If he listens he will definitely reach all of his goals. Thank you for helping to educate this young generation as well as some of us older folks too. True genius sir! I’m subscribed!!!

[garyish]

100k by 30
And now on track to be 1M by 40 😎
Keep up the good work bruhhh 🤘

[tiwarani]

This video is spot on. I finally hit 100k in investments and savings this year at the age of 29! At 23, I was making 30k doing lawn care. Decided to invest in myself by paying 5k for a 6 week truck driving course. At 24, my pay went up to 50k. Every year after my pay has grown to where this year I'm hoping to make 100k. Also, I always lived frugal. Never had a car payment and never had credit card debt.

[PUnEBanger]

I’m 26 with 46k on track to make 55 by the end of this year. 100k on the way!

[carendemoya]

I made my first million investing in stock market as a beginner, now I have time for my kids and other things in life

[samwagner]

100k. I watch every video all the way through. Love your content

[Christine-whub]

Tommy you are good for us! thank you for being you.

[Zaylee]

Crazy how I was just watching your old video on this and you dropped a new one appreciate the content

[diversesolez]

Dropped out of college started selling shoes full time and hit my first 100k this year at 20❗️

[SquattinSlab]

100k...great video...I'm just taking it one step at a time...that ending cracked me up lol

[john]

I appreciate the point of view where you mentioned you sacrificed alot to save, would love to hear more! Kinda feel like im in a somewhat similar situation, living with family uncomfortably to invest over 65% of my income 🥵 but i feel like im behind or wont make it if i dont keep pushing

[sleepychris]

Thank god for this video i needed to hear this

[StrawberrySweetart]

#100k! This was a great video. It's hard to find good videos like this about investing. 🎉🎉thank you!

[luispadilla]

100k I really like your videos thanks!

[novaricos]

*100K! I always go all the way thru your videos! Often, 2 or 3 times listening while busy doing other quiet things like cooking, crochet, financial work online, cleaning, furniture refinishing, etc. Good to have your knowledge and generosity in sharing it, running in the backround!! Thank you young man for reiterating and adding to, my knowledge base!
30%-50% of your income, rather than wasting the 20% most people do without even knowing what they spent it on!!!.. Yes you
*On a small income ($38K one year is the most I've done!) I've raised two boys, and since 2005 paid off: business debts including 3 credit cards, (24K, 5K, and 26K) 8K parent school loan, my own 10K student loan, two lease cars, a 19K 2009 truck (still have and love!), an 18K trailer home and 15K in remodeling, last debt I'm working on is a 22K parent student loan that blew up over years of deferral to 44K!, now down to 24K and shrinking!
* I'm 70, now partially retired (after 12 years of two+ jobs at a time), and have spent years looking after my husband(s)(loved, and still friends, but more a liability than good partners) and 2 kids, a home -based child daycare for16 years, elderly parents (loved it, but not easy! for 12+ years), a small 2 person construction company 10 years, a part-time grocery store and farm store cashier and greenhouse worker 20+ years (ongoing), micro account forex trader, nursing student, then hospital lab worker, then engineering student, financial planner's office receptionist and all around whatever needs to be done person!, and many other fascinating interests in life.
* "The world is so full of a number of things, I'm sure we should all be as happy as Kings!" Life is great, and as my great-grandmother used to say, "You are never safe from surprise!" lol.

*Wish I had had the knowledge back then that I do now and could have avoided most of those debts!, but better now than never! and pass it on!🤩

[itstboogie]

100k, great vid im 20 right now and is wanna get 100k in 6 years I think if I just modify ur plan a lil bit I can do it

[bigbobby]

This season has been really great, Ive been able to build a big income steam investing with, Mrs. Mary Draper, she changed my whole life, Thank you so much.

[TunesofTransformation]

Can you talk more about life insurance and putting money into that there is alot of speculation around it. I feel you can clear the air alittle. Thnx tommy

[officialjaluv]

Oh thats how the s&p index funds work. Thanks. Bought my fist fractional share of voo. I have a friend making big dividends off his stocks and index funds but he makes a lot of money and has much more to work with to invest. While i have to use change 5 bucks etc. More money makes a huge difference.

[nevermisled]

I’m 19 by the end of next yr I’ll have 40k saved up( I’ll be 20 )
By 2025 I’ll shoot for 100k(while actively investing in a ROTH IRA and my TSP

Ps. I’m in the military as of rn and will be working 2 jobs due to my lenient schedule.