Net worth genuinely snowballs after $300k! Keep investing regularly and you'll be blown away how much it may change in a few short years. Here's to $3 million and to FIRE!
Thank you to my FA, my portfolio is doing really well, and I'm proud of the decisions I made last year. If you want to grow this year, especially in your finances, I would advise everyone to be willing to make investments. Savings is important, but investing puts you in a position where you wouldn't have to worry about savings as you do now.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
I was in a terrible position a couple years ago. I was always anxious. I decided to start working with a financial advisor, and I started making a lot of monthly dividends that my anxiety disappeared.
Exactly my solution too, even though I'm not retired. As a contractor with limited time to analyze investments, I've relied on a fiduciary for the past seven years to manage my portfolio. This strategy has helped me navigate market fluctuations effectively and also increased my porfolio by up to 300%. You might consider a similar approach.
Yes indeed.... *Izella Annette Anderson* has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
He forgot to mention that 100k cultivates the skills of discipline. I saved well past 100k and bought real estate. Now i am working to rebuild that 100k, half way there!
Keep going buddy I started at 41... was in 7K debt and living in my overdraft. I'm now debt free have a 15K emergency fund. 20K saving pot and just surpassed ~$115K... I am almost 43 now!
I lost a lot chasing individual stocks and I feel pretty silly for not understanding how investing works. I have a double major in economics but I’ve been trying to make sense of the market. Well done on profits!
Great advice here. Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I’m invested in ETFs, REITs, and individual stocks and use a CFA. On average, she takes 10% of earnings, but using *Lina Dineikiene's* system allows for a more hands-off approach. I conservatively follow her recommendations and market entry and exit points, and tbh this makes it fairly simple for me... I am convinced it's not just hard work but smart work:-)
$100k is SO powerful, not just because of the compounding power (which is really the same realitive to amount at all levels of net worth) but the psychological boost you get for having 6-figures in savings is incredible.
I wish I could have retired in my 50's. I'm 65 now, I started investing late . After some research, I found a strategy that helped. I'm pleased to say I'm retiring with at least $2 million.
@@ClemonSteve It’s worth noting that luck often plays the significant role in some cases, sometimes even more than the resources involved. Without it, its challenging
@@MichaelGabreil luck plays a part, especially in the short term. I noticed that when results remain consistent, it indicates something more than just luck. research was the challenge until It led to Julie Ann Lerch, a fund manager. her strategy made sense, it contributed to growing 950k into this and counting
Congratulations. I stumbled into finances in my late 20's, unfortunately got laid off and landed another great job at exactly 30 😂. Im 36 and so far so happy with my networth 😊.
you are lucky, we did not have these finance channels (even though most of them are bad) or resources in my college days 20 years ago. Its like the US govt and public education does everything possible to make you financially illiterate
I reached $138k today. Thank you for all the knowledge and insights you've shared with me over the past few months. I began this journey in October 2024. Financial education is essential for over 70% of the population, as only a few are truly literate in this area. Thanks so much Charlotte Grace Miller.
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
@@VincentChan I actually live in Bulgaria where my salary is around 15k dollars a year and prices are pretty much the same as in western Europe where salaries are a lot higher, so to me - this is the main problem, but the other problem is mentally and to know where exactly your money is going every month.
@@VincentChan I just printed out a blank sheet for monthly expenses literally 5 minutes ago and will start to write down every expense to keep track. Thank you for inspiring me to start changing my life towards better financial future. 😊🙏🙏
Like in Body building they say "You're not building a body, you're building a Mindset". Same applies to Finance. $100K looks good to the eye, and is a psychological booster - but its the daily, consistent little wins that'll take to you a Million. Motivation can only get you started, but its Discipline that'll take you to the finish line, and beyond. Never underestimate the power of small wins in your Daily Habits. Keep investing, even if its only $5 a day in an indexed fund.
I’m so grateful for your videos. I am a 47 yr old school teacher and am ready to get out of debt and start building wealth so I can retire before I burn out 😔I am hoping it is not too late. You mentioned starting a workshop for young people on one of your other videos. That is next level. I would love something like that for my son who just graduated from high school. Thank you 😊
Why do people keep talking about 100k. The calculation is still valid if you divide all numbers by 10 or 100. So 10k, or 1k is also the magic number? I believe 100k makes people feel different because at this magnitude its capital return finally becomes comparable to your spending, i.e. no longer neglectable.
You are 100% right but to put things into perspective I hit £100k 3 months ago. Trump got elected and I’m now at £132k. Things start to get crazy once you pass that threshold. And I’m still adding more. Also £100k is 1/3 of the way to £1m in investing terms based on time and compound growth.
How to invest $500,000 for cash flow depends on your risk tolerance and long-term goals, but real estate is probably your best bet. Rental properties deliver predictable returns - as long as you can keep them occupied - which makes it easier to predict and depend on than more volatile investments.
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks...
All good if you got 15 k left after paying bills and eating,just pay yourself first at least ten cents of every dollar you make and never spend it,invest it when it’s big enough,you won’t need much for having money that makes money.
Yes, you may be right. Back in the 1980's, I first learned about dollar cost averaging when studying for my securities license. This is when stocks were still trading in 1/4, 1/2, 3/4, and whole dollars. So, Apple stock might be $175 and 3/4 of a dollar. Ah the good old days (smile ... smile).
Anyone who can amass 100k is not an ordinary person. I talked to people about money and it seems like most people would have difficulty saving enough money to cross the street…
Disagree. I’m a living proof of this, I’ve reach 100k last month , on average wage, started investing in 2019 an was only on government assistance. Be frugal and live below your means.
I have a salary of 50k and I managed to save 54k but I also had a part time job in which I just saved everything from that job while saving 1600 each month from my main job
@kingmeke76 If it does, that just means it’s a great time to invest more. Because when it eventually rebounds, all those shares you bought while they were cheap will multiply.
Nice video coverage in trading, possessing technical analysis skills is not sufficient on its own; discipline and emotional maturity play crucial roles in achieving success. Embracing the mindset of "time in the market vs. timing the market" proves valuable, especially during market fluctuations. I attribute my growing daily earnings to Shea Ardolf's valuable insights and daily trade signals, coupled with my commitment to continuous learning. Kudos to the journey ahead!
Working with her has been a game-changer for my financial well-being. Her ability to simplify complex financial concepts and provide tailored solutions is commendable. Shea ’s passion for her work shines through, making the financial planning process not only effective but also enjoyable.
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
Investments have proven to be one of the most advantageous choices one can make for themselves. To this day, my cryptocurrency profits consistently contribute significantly to my overall wealth, alleviating any need for me to rely solely on my salary.
Crazy that this video got recommended to me and I literally reached 100k in savings/investments this week. It did take me around 5 years to get there So you're saying I could be a millionaire soon?
I recently eclipsed 100k. I was really stunned how much faster 66k to 100k went as well compared to 0-66k. This last year has had growth around 25-30%. So that’s probably a big part of how that happened in addition to the 66k-99k being much higher than say 30k. I remember hearing that 2 milestones you reach with your investments are first 100k, and then a point where your account grows faster than the amount you contribute. For me I think I hit milestone 2 prior to milestone 1 over the last 8 months due to just how high the returns were recently. I expect that that’s not normal. But I’ll take it.
Another way people fail to build wealth is squandering money on bad choices: I just went to lunch yesterday with a friend and her friends. Her friends drove us in their 7 series BMW which they leased new in 2021. It is an $80k car and the husband works as a tradesman at a blue-collar service business. The lease payment is $1200/mo. That means over their 3 year lease, they will lose $43,000 and have nothing to show for it. Instead, since they claim they needed the space for their kid, they could have PURCHASED a new minivan for that amount and OWNED the vehicle which would have been good for at least 10 years or more with lower maintenance costs and more room. Their annual transportation costs would have been a fraction of what they are losing today. You might argue, they want and "deserve" the luxury though they complained the car isn't as convenient as they wanted. I would counter that it is not luxurious to ride in a car with cheerios and cheezits all over the rear carpets and jelly smears on the B pillars and they would have been better off functionally and financially BUYING the minivan (preferably 1 year used).
Agree. A car can be business asset and largely paid for by the business if you use it furtherance of business income. If you don't have this type of arrangement you get studk in the scenario you describe.
@@JBoy340a Exactly. If you make the car a business expense and claim the depreciation against your business income reducing your taxable income, that is smart.
Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 10 grand weekly and this has improved my financial life. Great piece!.
she's a known advisor. I actually did look her up curiously and went through her credentials on her webbsite... Top-notch! I wrote her an email, hopefully she's accepting new intakes.
Best life changing advice is to pick a good financial mentor and let them guide you towards wealth. This really saves you from loss and time wasting. I am glad I know Olivia Sullivan.
If you can get out of college, or during college, invest 10 to 30k, or as much as you can save, don't touch it until retirement. Invest in the s and p or MSCI fund. It'll be probably worth 1 to 1.5 million at retirement. Plus, will help establish healthy saving habits. I'm 39 years old and I'm now a millionaire, my net worth increased by over 200k in the past 2 years. Once you get close to 1 million invested, it just skyrockets.
A question: I just turned 26 and I’m worth $110k. But only half of it is in my portfolio. The other half is my emergency fund and savings. Do I need to have $100k in investments for the snowball effect?
Yeah, though right now a high yield savings account is an investment. As rates come down, it may not be. If the savings yield falls below inflation it stops being an investment.
If you have the half in a savings account that's earning interest, you won't have as much returns but your money will be safer in the event of a market downturn. you should hunt for the highest CDs or savings account interest you can get though
I had this same question too. It’s def important to keep that emergency fund. I think the growth is based on that 7% return so it’s assumed to be invested. But def keep that emergency money and whatever you earn on top of that can go to investments. Cheers!
For people who own a business or are on commission it take more time to figure out how to save $500 than it does to earn $5k more. I do a bit on saving, but mostly focus on earning more.
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
Sound advice given on this video. Many financial gurus will recite the same strategies/methods that are one size fits all.. however a person's finance will as unique as that individual's personality. What works for one will not work for others, therefore it's best to create your own custom financial path. It will lead you to your financial goals because it is specifically tailored to you by you. Math never lies, if the goal is to buy a car or a home the math will tell you how much car or house you can afford... if you can't afford what you set your mind to it, either scale that car or house down and/or increase your income with a side hustle, finding a better paying job. At one point I had three jobs as I had set a goal to my a home. It took me 2 years to save enough to buy a small 1br condo. If I didn't hustle and continue to only work 1 job I'd probably would still be renting.
Sound advise, I agree with you 100 percent. The best way to beat higher and higher rental fees, is to own (the condo, town home, or single family house) where you live (smile ... smile).
Automating finances is the biggest thing. Limiting the amount of money that hits your bank account by automating savings and investing takes the guess work out of if you are maing the right fiancial moves on a monthly basis. Sometimes it can feel like we are just getting by but then I remember we are putting away upwards of 15% of our take home pay even before we see any of it. It's aslo very helpful to see taxes as a sort of forced savings account. I'm always excited for April because I get to see how many ways I can optimize my tax savings and get a chunk of cash back to pay down any outstanding debt we have.
great information, and a good job keeping the video interesting even though it's educational. I find myself both watching and uploading personal development, business, and money related videos
not from an investment pov, but financial institutions will charge lower service fees and offer other bonuses as the value of accounts goes up. That is to say a bank will offer better deals for either onel large account or across multiple accounts under the same customer name. Spreading the money out over several banks means you don't get that benefit.
@shelbynamels7948 These are good points on fees and bonus offers. Some investments start at a certain point, e.g, $50k. I saw something showing how fees can lower the compound effect significantly over time.
From a percentage growth standpoint, it is actually growing slower the more and more you earn. Because the amount you are contributing keeps becoming smaller and smaller in relation to the total. But we are humans and its hard to think in percent growth and are much more accustomed to having feelings about growth based on total amount of growth. 7% of 1M is 70k. while 7% of 100k is 7k. I'm sure making 70k from your portfolio feels a lot nicer than making 7k from it, even though the percent growth is the same.
You really spelled this out well. I appreciate your time to do so. However, I couldn’t help but fixate on that object over your right shoulder. Is that a muppet with flat top and a bad mustache cut? 😄 Thanks again!! 😊
Great video thanks. Does the $100K mean to have $100K invested in various stocks/shares and funds? Say $25K in Tesla, $25K in JP Morgan etc.? The assumption is having $100K invested over time will start paying you? Thanks.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Miller.
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
This is silly, nothing explodes at 100K, you are contributing the same amount of hard earned cash every year. The entire amount is growing by 7% a year, which is just the definition of compound interest. Only 10% of the US population achieves a net worth of a million dollars or more.
It's not silly and is supported by data, which the presenter showed you. Of course nothing happens over nightz but it happens far quicker than just saving. Even just leaving that 100 k to compound alone is enough to make you better off than most. More Americans and Brits could do this if they didn't spend their money on nonsense.
@@rozinant1237 it's obvious you don't. 7% of $100,000 is a lot more than 7% of $100. That's why reaching 100k is an important milestone for most. Use your brain.
Compound interest works the same no matter how much money you have. $100,000 is an arbitrary number made up by Charlie Munger. It’s fine to have a goal of investing that much, but it’s not actually going to make a difference in the growth rate.
There's a threshold below which your net worth increases are primarily through your own contributions, and above which compound interest gains start to outpace your contributions in increasing your net worth. For the median income, $100,000 is a nice round number that very roughly approximates that threshold. I wouldn't say it's entirely arbitrary, although given inflation, it may need to be raised a bit. $100,000 ain't what it used to be.
Omg, how do you not understand. 7% if $100 is $7. 7% of 100,000 is %$7000. Therefore the more money you have the more you will make. $100,000 is important for psychological reasons, and is achievable for most I'm western countries if they don't spend their money on nonsense
The rate doesn't change, no however the speed of growth is much more noticeable from say 40k to 100k. The amount is almost at the point of self sustainability (with mortgage paid off) in the UK in a lot of areas and that's just pure growth from investments, not from anything extra you put in through the year.
Thank you for saying this. I love math and I could never get my head wrapped around how $100k to $500k would be any different than $1k to $5k. Of course $400k to $500k is going to be a shorter period of time. It's only a 25% difference. The curve they always show is very misleading.
I’m looking for some advice. I turned 18 in January, since then I have been investing about 1500 every month from my work income into the s&p 500. However before turning 18 I had accumulated about 30k. While everyone says it’s about time in the market, I just feel the market is overvalued. Should I ignore this feeling and just invest in an etf or stick it in high yield savings account in hopes of a market downturn. I appreciate any advice
This makes no sense, it also changes "units of comparison." If you put 15k in the S&p 500 Consumer TR for an avg of 10% apr (The index has returned a historic annualized average return of around 10.26% since its 1957 inception through the end of 2023.) You will double your money (30k) without any contributions or wtihdrawals in 7.28 years or almost 88 months. now with 100k ... you guessed it: 7.28 years for 200k. Percents don't care about your base.
@@VincentChan this doesn't help your case. 15k per year contribution as you stated. So, 1250 per month. This doubles your money faster as the 15k example (obviously). But doesn't change that there is no "critical mass" putting in 15k a year is already out of touch for most of the dummies who were in "awe" with your kiyosaki like "financial wisdoms"
@@DollaDealz the comment is in regards to your comment about how the math is incorrect. The math is correct. Now whether someone can contribute 15k a year is a different story. However, the core math principle still holds up whether it’s 1k, 5k, 10k or 15k a year in contribution.
Except i didnt question the math i am stating there is no critical mass. The gains in % are the same when the contributions are the same flat#.@@VincentChan The question is how do you qualify the WHOLE point of yhe video as implied by the title.
No doubt, having the right plan is in-valuable, my portfolio is well-matched for every season of the mar-ket and re-cently hit 100% rise from early last-year. I and my CFP are working on a 7 fi-gure ball-park goal, tho this could take till Q3 2024...
can i ask a stupid question? what if Person A has 2 accounts? 50k in one account and 50k in another account? Person B has just 1 account with 100k? do both people collect interest at the same rate?
If you have 2 separate accounts with 50k in each of them, and you are invested in the same investment (like index funds), that is the same as having 100k in one account. They will collect interest at the same rate if they are in 2 separate accounts (again, assuming both are in the same investment). 100k invested is 100k invested, no matter if it's in multiple accounts. Hope that helps.
no difference from an investing pov, but you may be charged per account and lose out on discounts and other benefits a financial institution may offer.
The challenge is investing that 100K to 900K in the stock market and see the market swings. It’s not that easy to stay invested and get that 7%. How do you manage your psychology for that.
What I see here: cost savvy is important, and pay yourself first! But I believe you need to actually want to have more money, so this point is most important after you control your cost. Lot of people just dont care. So you need to ask for a raise every year you need to listen to finance podcast to actually become what you want to be. Financially successful. Just by living below yiur means this won't being you there alone.
True, but the most important thing is just not to save...but, you need to invest your money and start as early in your career as possible (smile...smile).
No, no, no. 100k is easy to earn putting in long hours with little leverage over 10 years. When you don't want to pull 80 hour weeks any more, the rate it goes up tapers off dramatically. The only workaround is to hire staff / leverage, but this costs, and swallows a lot of profitability. Then you go sideways for 5+ years.
I know what helps is turnng some expenses into a yearly thing. Like streaming services, phone bill, etc. I can pay phone bill , grammlerly, Disney+ yearly. I had to let go my patreon with supporting cause my money is tight as it is since switching part time at work to tend to school. Making sure the supplies the teacher ask if what yall actually gonna use gor you want waste money or see if there's a cheaper option to get side item. Thrifting is fun and you'll find so much stuff. I hope to start saving for retirement starting next year since I have been getting better with my money. Hopefully once I pay off this car I can start without stressing my self lmao.
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
From $10K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Isn't this just a dumb theory? I mean, the psychological factor can be real but your money doesnt grow faster when you have 100k. For example, if you start with 90k, you will get to 100k very fast, but it will take a lot longer to reach 200k...It all depends on the money you have to start and the money you need to retire. If 300k is sufficient to retire, then the hardest part is the first 30k...
Sigh. I've searched for 100k to 1 mil videos and none ever comes up. At this point, I just have to assume that everyone who made 100k eventually became a millionaire. It's just making 100k 9 more times, right?
Really the only point is that, it takes less and less time to arrive at the next $100,000 mark (i.e. it takes longer to grow from $200,000 to $300,000, than it takes to grow from $500,000 to $600,000).
Every time I invested in the stock market I lost everything 100 % every time. This is based on a financial planners advice.. Now my money stays in the bank.
Does it matter if you have multiple accounts (401k, Roth IRA, individual acct) that all add up to a 100k or does the 100k have to be in one acct for it to start exponentially growing the way you describe it??
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@vincentchan plug me with your editor. This is nice
Net worth genuinely snowballs after $300k! Keep investing regularly and you'll be blown away how much it may change in a few short years. Here's to $3 million and to FIRE!
Thank you to my FA, my portfolio is doing really well, and I'm proud of the decisions I made last year. If you want to grow this year, especially in your finances, I would advise everyone to be willing to make investments. Savings is important, but investing puts you in a position where you wouldn't have to worry about savings as you do now.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
i've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
Annette Christine Conte is the licensed advisor I use. Just research the name. You’ll find necessary details to work with to set up an appointment.
Thank you for the recommendation. I'll send her an email and I hope I'm able to connect with her.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
I was in a terrible position a couple years ago. I was always anxious. I decided to start working with a financial advisor, and I started making a lot of monthly dividends that my anxiety disappeared.
Exactly my solution too, even though I'm not retired. As a contractor with limited time to analyze investments, I've relied on a fiduciary for the past seven years to manage my portfolio. This strategy has helped me navigate market fluctuations effectively and also increased my porfolio by up to 300%. You might consider a similar approach.
@@mariaguerrero08Could you possibly recommend a CFA you've consulted with?
Yes indeed.... *Izella Annette Anderson* has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
He forgot to mention that 100k cultivates the skills of discipline. I saved well past 100k and bought real estate. Now i am working to rebuild that 100k, half way there!
dude you have a mortgage. No expert in the world recommend to buy a house....
Watching in my 40s... And only just starting investing I feel so behind!
Gotta start somewhere
Keep going buddy I started at 41... was in 7K debt and living in my overdraft. I'm now debt free have a 15K emergency fund. 20K saving pot and just surpassed ~$115K... I am almost 43 now!
I lost a lot chasing individual stocks and I feel pretty silly for not understanding how investing works. I have a double major in economics but I’ve been trying to make sense of the market. Well done on profits!
You still have time , keep on dca into your asset of choice.
Great advice here. Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I’m invested in ETFs, REITs, and individual stocks and use a CFA. On average, she takes 10% of earnings, but using *Lina Dineikiene's* system allows for a more hands-off approach. I conservatively follow her recommendations and market entry and exit points, and tbh this makes it fairly simple for me... I am convinced it's not just hard work but smart work:-)
$100k is SO powerful, not just because of the compounding power (which is really the same realitive to amount at all levels of net worth) but the psychological boost you get for having 6-figures in savings is incredible.
I wish they taught investing at school level. There is so much advantage to doing this!
My biggest regret is that I started so late.
I wish I could have retired in my 50's. I'm 65 now, I started investing late . After some research, I found a strategy that helped. I'm pleased to say I'm retiring with at least $2 million.
@@ClemonSteve It’s worth noting that luck often plays the significant role in some cases, sometimes even more than the resources involved. Without it, its challenging
@@MichaelGabreil luck plays a part, especially in the short term. I noticed that when results remain consistent, it indicates something more than just luck. research was the challenge until It led to Julie Ann Lerch, a fund manager. her strategy made sense, it contributed to growing 950k into this and counting
@@ClemonSteve I pasted the name into my browser and her page popped up as a top result. appreciate you pointing that out
I started watching finance channels at 17. I'm 28 now and so incredibly happy with how my net worth has grown over time.
Congratulations. I stumbled into finances in my late 20's, unfortunately got laid off and landed another great job at exactly 30 😂. Im 36 and so far so happy with my networth 😊.
you are lucky, we did not have these finance channels (even though most of them are bad) or resources in my college days 20 years ago. Its like the US govt and public education does everything possible to make you financially illiterate
I reached $138k today. Thank you for all the knowledge and insights you've shared with me over the past few months. I began this journey in October
2024. Financial education is essential for over 70% of the population, as only a few are truly literate in this area.
Thanks so much Charlotte Grace Miller.
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
Waking up every 14th of each month to 210,000 dollars it's a blessing to I and my family... Big gratitude to Charlotte Miller
The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Thanks!
I am just starting to try and save my first 2-3k at 36 years old... Oh well. I guess better later than never. 🤷
You got this!! What do you think is the biggest challenge for you?
@@VincentChan I actually live in Bulgaria where my salary is around 15k dollars a year and prices are pretty much the same as in western Europe where salaries are a lot higher, so to me - this is the main problem, but the other problem is mentally and to know where exactly your money is going every month.
@@VincentChan I just printed out a blank sheet for monthly expenses literally 5 minutes ago and will start to write down every expense to keep track. Thank you for inspiring me to start changing my life towards better financial future. 😊🙏🙏
Never late to take care of yourself,
@@jeffdunnell6693 I agree 👍
This guy is one of the only few guys on youtube who actually gives me hope in myself
Awwww❤
that means a lot thank you. im really glad i can help.
For real. Gives me the feeling of being capable of achieving wealth, without winning the birth lottery
Like in Body building they say "You're not building a body, you're building a Mindset". Same applies to Finance.
$100K looks good to the eye, and is a psychological booster - but its the daily, consistent little wins that'll take to you a Million.
Motivation can only get you started, but its Discipline that'll take you to the finish line, and beyond.
Never underestimate the power of small wins in your Daily Habits. Keep investing, even if its only $5 a day in an indexed fund.
I’m so grateful for your videos. I am a 47 yr old school teacher and am ready to get out of debt and start building wealth so I can retire before I burn out 😔I am hoping it is not too late.
You mentioned starting a workshop for young people on one of your other videos. That is next level. I would love something like that for my son who just graduated from high school. Thank you 😊
Should be "47-yr-old teacher"... you need hyphens
Keep it up!
Why do people keep talking about 100k. The calculation is still valid if you divide all numbers by 10 or 100. So 10k, or 1k is also the magic number? I believe 100k makes people feel different because at this magnitude its capital return finally becomes comparable to your spending, i.e. no longer neglectable.
You are 100% right but to put things into perspective I hit £100k 3 months ago. Trump got elected and I’m now at £132k. Things start to get crazy once you pass that threshold. And I’m still adding more. Also £100k is 1/3 of the way to £1m in investing terms based on time and compound growth.
How to invest 500,000 for cash flow?
How to invest $500,000 for cash flow depends on your risk tolerance and long-term goals, but real estate is probably your best bet. Rental properties deliver predictable returns - as long as you can keep them occupied - which makes it easier to predict and depend on than more volatile investments.
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks...
Oh please I’d love that. Thanks!
Great , i will do that now . Thanks for sharing
All good if you got 15 k left after paying bills and eating,just pay yourself first at least ten cents of every dollar you make and never spend it,invest it when it’s big enough,you won’t need much for having money that makes money.
Vincent is right about this. Interesting that nobody in business class ever mentioned this or even dollar cost averaging.
Yes, you may be right. Back in the 1980's, I first learned about dollar cost averaging when studying for my securities license. This is when stocks were still trading in 1/4, 1/2, 3/4, and whole dollars. So, Apple stock might be $175 and 3/4 of a dollar. Ah the good old days (smile ... smile).
Bc it's a financial literacy subject, not a business matter
Anyone who can amass 100k is not an ordinary person. I talked to people about money and it seems like most people would have difficulty saving enough money to cross the street…
Disagree. I’m a living proof of this, I’ve reach 100k last month , on average wage, started investing in 2019 an was only on government assistance. Be frugal and live below your means.
I have a salary of 50k and I managed to save 54k but I also had a part time job in which I just saved everything from that job while saving 1600 each month from my main job
Super interesting video, I hit 100k earlier this year and it’s been crazy to see how quickly it grows now!
Congratulations man! Really happy for you 🎉🎉😊😊
@kingmeke76 If it does, that just means it’s a great time to invest more. Because when it eventually rebounds, all those shares you bought while they were cheap will multiply.
Just let that grow and grow. You're in am excellent position
The % of growth stays the same.
With this in mind..should I hold off on buying a home even though I currently have 200k invested in the market to allow it more time to grow?
Nice video coverage in trading, possessing technical analysis skills is not sufficient on its own; discipline and emotional maturity play crucial roles in achieving success. Embracing the mindset of "time in the market vs. timing the market" proves valuable, especially during market fluctuations. I attribute my growing daily earnings to Shea Ardolf's valuable insights and daily trade signals, coupled with my commitment to continuous learning. Kudos to the journey ahead!
Shea Ardolf program is widely available online..
Working with her has been a game-changer for my financial well-being. Her ability to simplify complex financial concepts and provide tailored solutions is commendable. Shea ’s passion for her work shines through, making the financial planning process not only effective but also enjoyable.
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
Crypto has opened doors for global financial inclusion. It's time for a more equitable world!
Investments have proven to be one of the most advantageous choices one can make for themselves. To this day, my cryptocurrency profits consistently contribute significantly to my overall wealth, alleviating any need for me to rely solely on my salary.
This is 100% truth. Based on personal experience he is absolutely right
I am on track to hit 100k next year. Started at 35 and will be 38 this month.
Congrats
Congrats , we’re about the same age. I’ve reached 100k last month , started investing at 34yo.
Crazy that this video got recommended to me and I literally reached 100k in savings/investments this week.
It did take me around 5 years to get there
So you're saying I could be a millionaire soon?
They say 100k is a third way to 1 million, and 300k is half way to 1 million (looking at the time it takes)
@@snowjae9380 alright. That means I need 10 more years to get to a million.
Using physics to help explain the critical mass thing, how helpful.
I recently eclipsed 100k. I was really stunned how much faster 66k to 100k went as well compared to 0-66k. This last year has had growth around 25-30%. So that’s probably a big part of how that happened in addition to the 66k-99k being much higher than say 30k.
I remember hearing that 2 milestones you reach with your investments are first 100k, and then a point where your account grows faster than the amount you contribute. For me I think I hit milestone 2 prior to milestone 1 over the last 8 months due to just how high the returns were recently. I expect that that’s not normal. But I’ll take it.
Bro you missed the concept of conpound interest
Another way people fail to build wealth is squandering money on bad choices: I just went to lunch yesterday with a friend and her friends. Her friends drove us in their 7 series BMW which they leased new in 2021. It is an $80k car and the husband works as a tradesman at a blue-collar service business. The lease payment is $1200/mo. That means over their 3 year lease, they will lose $43,000 and have nothing to show for it. Instead, since they claim they needed the space for their kid, they could have PURCHASED a new minivan for that amount and OWNED the vehicle which would have been good for at least 10 years or more with lower maintenance costs and more room. Their annual transportation costs would have been a fraction of what they are losing today. You might argue, they want and "deserve" the luxury though they complained the car isn't as convenient as they wanted. I would counter that it is not luxurious to ride in a car with cheerios and cheezits all over the rear carpets and jelly smears on the B pillars and they would have been better off functionally and financially BUYING the minivan (preferably 1 year used).
Agree. A car can be business asset and largely paid for by the business if you use it furtherance of business income. If you don't have this type of arrangement you get studk in the scenario you describe.
@@JBoy340a Exactly. If you make the car a business expense and claim the depreciation against your business income reducing your taxable income, that is smart.
Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 10 grand weekly and this has improved my financial life. Great piece!.
She’s OLIVIA SULLIVAN FINANCIALS
she's a known advisor. I actually did look her up curiously and went through her credentials on her webbsite... Top-notch! I wrote her an email, hopefully she's accepting new intakes.
She's definitely going to help you. All you have to do is look up her full name and reach out to her
Best life changing advice is to pick a good financial mentor and let them guide you towards wealth. This really saves you from loss and time wasting. I am glad I know Olivia Sullivan.
Your right, people make money even when the market is down. I started investing recently and realised there's a secret to constant wins .
If you can get out of college, or during college, invest 10 to 30k, or as much as you can save, don't touch it until retirement. Invest in the s and p or MSCI fund. It'll be probably worth 1 to 1.5 million at retirement. Plus, will help establish healthy saving habits. I'm 39 years old and I'm now a millionaire, my net worth increased by over 200k in the past 2 years. Once you get close to 1 million invested, it just skyrockets.
A question: I just turned 26 and I’m worth $110k. But only half of it is in my portfolio. The other half is my emergency fund and savings. Do I need to have $100k in investments for the snowball effect?
Yeah, though right now a high yield savings account is an investment. As rates come down, it may not be. If the savings yield falls below inflation it stops being an investment.
If you have the half in a savings account that's earning interest, you won't have as much returns but your money will be safer in the event of a market downturn. you should hunt for the highest CDs or savings account interest you can get though
I had this same question too. It’s def important to keep that emergency fund. I think the growth is based on that 7% return so it’s assumed to be invested. But def keep that emergency money and whatever you earn on top of that can go to investments. Cheers!
same age, same bag. just keep like 30-40k on you and invest the rest
Is it the same putting in a lump sum at age 70 in voo
For people who own a business or are on commission it take more time to figure out how to save $500 than it does to earn $5k more. I do a bit on saving, but mostly focus on earning more.
Yup it takes forever to get to $100k, but wealth quickly snowballs afterwards.
What's the equivalent of an Index fund in the UK?
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
This is such a high value video!!!
Sound advice given on this video. Many financial gurus will recite the same strategies/methods that are one size fits all.. however a person's finance will as unique as that individual's personality. What works for one will not work for others, therefore it's best to create your own custom financial path. It will lead you to your financial goals because it is specifically tailored to you by you. Math never lies, if the goal is to buy a car or a home the math will tell you how much car or house you can afford... if you can't afford what you set your mind to it, either scale that car or house down and/or increase your income with a side hustle, finding a better paying job. At one point I had three jobs as I had set a goal to my a home. It took me 2 years to save enough to buy a small 1br condo. If I didn't hustle and continue to only work 1 job I'd probably would still be renting.
Sound advise, I agree with you 100 percent. The best way to beat higher and higher rental fees, is to own (the condo, town home, or single family house) where you live (smile ... smile).
Its harder to sell when its needed. First 3 mins of this video is good....
Good video. And don't stop after $1 M. If you run the numbers after 2 million, 3 million is easier. ...
I love the automated idea.
Automating finances is the biggest thing. Limiting the amount of money that hits your bank account by automating savings and investing takes the guess work out of if you are maing the right fiancial moves on a monthly basis.
Sometimes it can feel like we are just getting by but then I remember we are putting away upwards of 15% of our take home pay even before we see any of it.
It's aslo very helpful to see taxes as a sort of forced savings account. I'm always excited for April because I get to see how many ways I can optimize my tax savings and get a chunk of cash back to pay down any outstanding debt we have.
Great information. Thank you for sharing your knowledge.
great information, and a good job keeping the video interesting even though it's educational. I find myself both watching and uploading personal development, business, and money related videos
Does it matter if the $100K is split or together?
It doesn't matter as long as the money is invested.
not from an investment pov, but financial institutions will charge lower service fees and offer other bonuses as the value of accounts goes up.
That is to say a bank will offer better deals for either onel large account or across multiple accounts under the same customer name.
Spreading the money out over several banks means you don't get that benefit.
@shelbynamels7948 These are good points on fees and bonus offers. Some investments start at a certain point, e.g, $50k. I saw something showing how fees can lower the compound effect significantly over time.
Yeah it matters because it needs to compound. And money will compound more slowly if it’s split up
how does this work in canada
Where to park 100K
A lot of people recommend index funds. There is a subreddit called r/bogelheads dedicated to low cost index funds. I would take a look there!
Awesome video! I appreciate the visuals since it helps me wrap my head around the topic.
Is there any established automatic trading app which takes care of buying and selling
Which tool do you recommend to invest? :) nice video!!
How fast does it go up after you reach 1 million ? Same rate of acceleration as 100K or faster/slower? Asking for a friend.
From a percentage growth standpoint, it is actually growing slower the more and more you earn. Because the amount you are contributing keeps becoming smaller and smaller in relation to the total. But we are humans and its hard to think in percent growth and are much more accustomed to having feelings about growth based on total amount of growth. 7% of 1M is 70k. while 7% of 100k is 7k. I'm sure making 70k from your portfolio feels a lot nicer than making 7k from it, even though the percent growth is the same.
You really spelled this out well. I appreciate your time to do so. However, I couldn’t help but fixate on that object over your right shoulder. Is that a muppet with flat top and a bad mustache cut? 😄 Thanks again!! 😊
Does this concept still apply for 4 separate accounts with 25k each
No
its very easy bro thank you for the vifeo
Should I be putting 100k into a HYSA first or into Brokerage Acc where I invest into long term growth ETFs (total market, s&p500)????
Where are you getting these 7% yields after tax and inflation?
Stocks that pay a dividend quarterly or monthly
@@ctsvblk yes I get that, but name some. I get yields of that high in the uk , but normally the stock price is plummeting
Great video thanks. Does the $100K mean to have $100K invested in various stocks/shares and funds? Say $25K in Tesla, $25K in JP Morgan etc.? The assumption is having $100K invested over time will start paying you? Thanks.
Great video 💗🌷
Hi Vincent - does the 100k need to be in a single investment?
When I did this, I put the $100k into a live in flip and the HELOCed it back out
Hello, can you share the website where you can find Google courses for free? Thanks
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Miller.
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
This is silly, nothing explodes at 100K, you are contributing the same amount of hard earned cash every year. The entire amount is growing by 7% a year, which is just the definition of compound interest. Only 10% of the US population achieves a net worth of a million dollars or more.
It's not silly and is supported by data, which the presenter showed you. Of course nothing happens over nightz but it happens far quicker than just saving. Even just leaving that 100 k to compound alone is enough to make you better off than most. More Americans and Brits could do this if they didn't spend their money on nonsense.
@@BillY-tw8xc do you even understand math?
@@rozinant1237 it's obvious you don't. 7% of $100,000 is a lot more than 7% of $100. That's why reaching 100k is an important milestone for most. Use your brain.
@@BillY-tw8xc Given your grade school logic, then wouldn’t 200K be even better?
@@rozinant1237yes $200k would actually be better that’s the math
Compound interest works the same no matter how much money you have. $100,000 is an arbitrary number made up by Charlie Munger. It’s fine to have a goal of investing that much, but it’s not actually going to make a difference in the growth rate.
There's a threshold below which your net worth increases are primarily through your own contributions, and above which compound interest gains start to outpace your contributions in increasing your net worth. For the median income, $100,000 is a nice round number that very roughly approximates that threshold. I wouldn't say it's entirely arbitrary, although given inflation, it may need to be raised a bit. $100,000 ain't what it used to be.
Omg, how do you not understand. 7% if $100 is $7. 7% of 100,000 is %$7000. Therefore the more money you have the more you will make. $100,000 is important for psychological reasons, and is achievable for most I'm western countries if they don't spend their money on nonsense
The rate doesn't change, no however the speed of growth is much more noticeable from say 40k to 100k. The amount is almost at the point of self sustainability (with mortgage paid off) in the UK in a lot of areas and that's just pure growth from investments, not from anything extra you put in through the year.
You clearly have no idea what you’re talking about
Thank you for saying this. I love math and I could never get my head wrapped around how $100k to $500k would be any different than $1k to $5k.
Of course $400k to $500k is going to be a shorter period of time. It's only a 25% difference. The curve they always show is very misleading.
how where those calculation made?
I’m looking for some advice. I turned 18 in January, since then I have been investing about 1500 every month from my work income into the s&p 500. However before turning 18 I had accumulated about 30k. While everyone says it’s about time in the market, I just feel the market is overvalued. Should I ignore this feeling and just invest in an etf or stick it in high yield savings account in hopes of a market downturn. I appreciate any advice
This makes no sense, it also changes "units of comparison."
If you put 15k in the S&p 500 Consumer TR for an avg of 10% apr (The index has returned a historic annualized average return of around 10.26% since its 1957 inception through the end of 2023.)
You will double your money (30k) without any contributions or wtihdrawals in 7.28 years or almost 88 months.
now with 100k ... you guessed it:
7.28 years for 200k.
Percents don't care about your base.
the assumption is consistent contributions, not contributing once and not touching it again.
@@VincentChan this doesn't help your case.
15k per year contribution as you stated. So, 1250 per month. This doubles your money faster as the 15k example (obviously).
But doesn't change that there is no "critical mass" putting in 15k a year is already out of touch for most of the dummies who were in "awe" with your kiyosaki like "financial wisdoms"
@@DollaDealz the comment is in regards to your comment about how the math is incorrect. The math is correct. Now whether someone can contribute
15k a year is a different story.
However, the core math principle still holds up whether it’s 1k, 5k, 10k or 15k a year in contribution.
Except i didnt question the math i am stating there is no critical mass. The gains in % are the same when the contributions are the same flat#.@@VincentChan
The question is how do you qualify the WHOLE point of yhe video as implied by the title.
@@DollaDealz the whole point is measuring absolute dollar gains. 10% return on 15k is 1.5k. 10% return on 100k is 10k. Larger gains = faster growth.
Very good video
Looking for long term investments that can fetch millions. --If you had $250k, which one -would you go for in terms of retirement - planning?
No one is perfect, We've- all made mistakes at some -point. You should consider financial- planning
No doubt, having the right plan is in-valuable, my portfolio is well-matched for every season of the mar-ket and re-cently hit 100% rise from early last-year. I and my CFP are working on a 7 fi-gure ball-park goal, tho this could take till Q3 2024...
Why the return assumed as 7%?? In reality it should around 10%, right??
can i ask a stupid question? what if Person A has 2 accounts? 50k in one account and 50k in another account? Person B has just 1 account with 100k? do both people collect interest at the same rate?
If you have 2 separate accounts with 50k in each of them, and you are invested in the same investment (like index funds), that is the same as having 100k in one account. They will collect interest at the same rate if they are in 2 separate accounts (again, assuming both are in the same investment). 100k invested is 100k invested, no matter if it's in multiple accounts. Hope that helps.
no difference from an investing pov, but you may be charged per account and lose out on discounts and other benefits a financial institution may offer.
@@shelbynamels7948 that's a good point I forgot, thank you
The challenge is investing that 100K to 900K in the stock market and see the market swings. It’s not that easy to stay invested and get that 7%. How do you manage your psychology for that.
What I see here: cost savvy is important, and pay yourself first! But I believe you need to actually want to have more money, so this point is most important after you control your cost. Lot of people just dont care. So you need to ask for a raise every year you need to listen to finance podcast to actually become what you want to be. Financially successful. Just by living below yiur means this won't being you there alone.
True, but the most important thing is just not to save...but, you need to invest your money and start as early in your career as possible (smile...smile).
One hundred Thousand happiness comes from within 😮
I started in my late 20s using different strategies. I’m 51 and I only have 96k. It’s been a struggle.
No, no, no. 100k is easy to earn putting in long hours with little leverage over 10 years. When you don't want to pull 80 hour weeks any more, the rate it goes up tapers off dramatically. The only workaround is to hire staff / leverage, but this costs, and swallows a lot of profitability. Then you go sideways for 5+ years.
GR8 VALUE Vincent.👏🏾
You stole that thumbnail from Nischa. Really you just stole everything from her video
Wait, you can have your checking account attached to another High yield savings account and the S&P 500?? If so, I had no idea.
7 % return rate on S&P.......with monetary expansion 9 % .......no real value
As an italian, i just want to say: you shouldn't eat pineapple pizza even if you had the same net worth as Warren Buffett
I’m favoured, $22k every week! I can now give back to the locals in my community and also support God’s work and the church. God bless America
I know what helps is turnng some expenses into a yearly thing. Like streaming services, phone bill, etc. I can pay phone bill , grammlerly, Disney+ yearly. I had to let go my patreon with supporting cause my money is tight as it is since switching part time at work to tend to school. Making sure the supplies the teacher ask if what yall actually gonna use gor you want waste money or see if there's a cheaper option to get side item. Thrifting is fun and you'll find so much stuff.
I hope to start saving for retirement starting next year since I have been getting better with my money. Hopefully once I pay off this car I can start without stressing my self lmao.
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
From $10K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
S and p returns over 10 percent a year not 7.
Isn't this just a dumb theory? I mean, the psychological factor can be real but your money doesnt grow faster when you have 100k. For example, if you start with 90k, you will get to 100k very fast, but it will take a lot longer to reach 200k...It all depends on the money you have to start and the money you need to retire. If 300k is sufficient to retire, then the hardest part is the first 30k...
How do you get to 100k with modest income !?!?!?!?!
How realistic is a 7% average return on, say, a World Index Tracker Fund over the next 20 years?
So you’re telling me that making $100K isn’t the hardest part, but the easiest part of reaching a million? 👀 I’m gonna need more details!
Crazy How I Was Among Your First 20 Subscribers
600k+ And Running 🎉
Woah really??? Which was the first video you saw??
@@VincentChan The Very First! On High Yeild Savings Accounts. During COVID
Sigh. I've searched for 100k to 1 mil videos and none ever comes up. At this point, I just have to assume that everyone who made 100k eventually became a millionaire. It's just making 100k 9 more times, right?
Really the only point is that, it takes less and less time to arrive at the next $100,000 mark (i.e. it takes longer to grow from $200,000 to $300,000, than it takes to grow from $500,000 to $600,000).
Can't be emotionnal about money you're gonna lose it
The power of dual income if you have a wife is also powerful when investing.
When I hit the 100k it made the possibility of my fire number more attainable
100k is crazy because this idea started from the 90's. Isn't 200-300k more accurate nowadays?
100k snowballs as long as you keep adding and keep it in soemthing that’s paying good interest it should be good
Every time I invested in the stock market I lost everything 100 % every time. This is based on a financial planners advice.. Now my money stays in the bank.
So my kid became a millionaire at 26 (net worth) and a multimillionaire at 30. His money goes into the SP500 index funds!!!!
took me 5 years to save 100k. Took me another 5 years to reach 1 million, and I went broke many times in between
Does it matter if you have multiple accounts (401k, Roth IRA, individual acct) that all add up to a 100k or does the 100k have to be in one acct for it to start exponentially growing the way you describe it??