Why Net Worth EXPLODES After $100K (And How to Get There ASAP)
Вставка
- Опубліковано 15 чер 2024
- Here's the math behind why your Net Worth skyrockets after hitting $100K, and how you can get to $100K in investments as quickly as possible.
Resources from video:
realestatefinancialplanner.co...
fourpillarfreedom.com/four-vi...
👾 Join our free Discord Community: / discord
FREE STOCKS:
🏆 Webull USA: a.webull.com/i/HumphreyYang
🏆 Webull UK: www.webull-uk.com/i/humphreyUK
📈 MooMoo: Click this link to get up to 15 free stocks when you make a qualified deposit Terms & Conditions Apply: j.moomoo.com/00iNNL
💾 Coinbase: Get up to $200 for Getting Started ➭ coinbase-consumer.sjv.io/QOA326
🎓 Public: www.pqr3ntrk.com/6QFBWN/J8P3N/ to get $10 worth of free Stocks
💸 SoFi Checking & Savings: sofi.com/humphrey Get up to 4.60% APY, pay no account fees and earn $250 when you sign up and set up direct deposit. Terms apply.
Coinbase New User Incentive is a limited time offer. Offer available to new users only. Terms apply. See for details: help.coinbase.com/en/coinbase
RESOURCES:
💵 Free Templates: beacons.ai/humphreytalks/free...
🐪 Hump Days Newsletter ➭ humpdays.substack.com
▶️ See What I Invest In ➭ / humphreytalks
💳 My Favorite Credit Cards ➭ cardonomics.com/i/humphrey
👾 Discord Community: / discord
MY SOCIALS:
Secret Channel -- / @hug
Instagram -- / humphreytalks
Twitter -- / humphreytalks
TikTok -- / humphreytalks
Rickie (Editor) ➭ / coldgamerick
WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!
⏱️ Timestamps:
0:00 - Start Here
0:38 - Core Principle 1
1:42 - Core Principle 2
3:20 - Illustration of Compounding
5:02 - The Value of a Dollar (Pre $100K)
6:00 - What the First $100K Made Up Of
7:02 - Strategy 1 to Get There Fast
7:55 - Strategy 2 to Get There Faster
9:03 - Strategy 3 to Get There Fastest
Hopefully you enjoyed. Check out my free Discord: discord.gg/humphrey
I always enjoy your videos. Thank you for inspiring me.
please do more against those scambot mafias, trying to lure your viewers into their traps. Comment section is full of them.
@@Nitroat-xo4tj Yes. I always call them out when I see them.
@@DividendRick great, thank you. i always try to call them out, so no one falls for them. But the sheer ammount of scambots show, its a good business with lots of victims.
*This video deserves all attention. How to grow finance, do this.*
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my stock portfolio and plan my retirement
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
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!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to my FA, my portolio is doing really great and im proud of the decisions i made last year.
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..
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
Rachel Sarah Parrish is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Additional earnings reports from major tech companies, driven by Nvidia, coupled with trader FOMO, could fuel a resurgence in market buying pressure. I'm considering investing over $300k, but I'm uncertain about risk mitigation strategies.
Nvidia stock is roaring like many did during the 1990s bubble. But this time around, the hype around new chips is happening in a more mature demand environment.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Marisa breton Dollard is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
keep contributing! I'd suggest you consider financial advisory at this point in time, remember you are in for the long haul
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
bravo! I appreciate the implementation of ideas and strategies that result to immeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
She goes by ‘Kathleen Cheryl Constantz’ I suggest you look her up online. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Kathleen Cheryl Constantz” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
As an lnvestment enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
The current state of the market may bring opportunities to increase profits quickly, but professional assistance is required in order to put such a plan into action.
Many people minimise the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm solvent. I looked for licenced advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Kenna Muriel Hesseling is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be very knowledgeable. I found her webpage and read through her resume, educational background, and qualifications, which were all very impressive. I have sent her an email detailing my financial goals.
As an avid investor, I often mull over how accomplished investors are able to amass fortunes through their investment endeavors. Presently, I hold equity exceeding $545K from a recent home sale, yet I'm uncertain about my next investment move. Should I consider buying stocks at this time, or should I await another opportunity?
The present market conditions could offer chances to enhance earnings quickly, yet to implement such a plan, expertise is essential.
Undeniably factual. Despite my absence of prior investing acumen, I ventured into investments pre-pandemic and managed to amass a profit of about $450k within that year. Essentially, I solely relied on professional counsel.
Lately, I've been researching advisors, but the market updates I've encountered haven't been very positive. Who's your guide?
Actually its a Lady. Yes my go to person is a ‘LAURELYN GROSS POHLMEIER '. So easy and compassionate Lady. You should take a look at her work.
I searched for her complete name on the internet and located her page. I then sent an email and scheduled a meeting to converse with her; now, I'm awaiting her response.
is it really worth investing in stocks in 2024, I’ve been on the sidelines watching the market for awhile and it seems to be pretty stagnant to me not that it matters because I’m in it for the long run, but how can one generate actual profit in this current market?
Don't be in a hurry to get in. The market needs several days of strong performance to signal that the downturn might be over; I think It's a time to be largely, if not entirely, in cash
The economy and stocks are two different things these days, but i agree, I think it's brilliant to have a portfolio advisor for investing! The market's instability makes DIY risky. You don't need to find the next NVDA to succeed in investing. I've consistently turned up $35k in quarterly dividends using one, a major milestone.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Kathleen Cheryl Constantz” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get.
It's a common misconception that when a stock you buy skyrockets, the smart thing to do is sell it (or at least sell some of it) to lock in your profits. But the context matters. If the stock has increased sharply because the business is performing exceptionally well, it could still be a bargain. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas...
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
It's crazy how far you go out your way to scam. Sad and pathetic
As a new nurse I started maxing out my 401K. That was $15,500 then. Because it came straight out of my check I never missed it. I’ve continued to do this for 23 years. The limit is now $19,000. Still doing direct withdrawal. Last I checked my portfolio it’s worth $1.7 million. I was young and went with aggressive funds. My point is, start early, use direct withdrawal. You can’t miss something you never had. Best of luck to everyone.
Congrats on your accomplishment! I wanted to input that the 401k limit is now $23k, which is great
Yeah to bad you will have to pay a lot of taxes on that 1.7 million . If you cash out completely now i think it would be near forty percent .
@@RebelwithaCause777 I never mentioned cashing out now. I’ve got a brokerage account not to mention the Rule of 55
@@RebelwithaCause777not is it is a Roth 401(k). Also, long term capital gains are 15% and we have a progressive tax system so 40% is a gross overestimation. Plus what possible reason would someone have for cashing out an entire portfolio?!?
@@AK_AF_LB if you knew anything about what you were talking about you’d know the limits of a yearly Roth IRA.
Started at age 56. First year saved about 11k. It sat in a lame .15% interest account. Second year moved it to HY savings. 🤦♂️ Also saved about another 13K. Year three started with 401K enrollment. Then a Roth IRA. working feverishly to max out 2023 before April 15, then start on 2024. Currently at about 37K.
Bonus, I will qualify for the 2025 catch up IRA for people 60-63. I treat this like a part time job and read and research constantly.
Paying it forward, I talked three youngsters at work into 401k enrollment as well.
Thanks for all the encouraging videos and comments.
Now or never.
well done!
Nice work my dude!
Props to you even starting so late still. You got balls of steel
In 2013 I had less than $5000 in 401K. Now at age 50, I have $150K in 401K, $25K in Roth IRA, $50K in brokerage accts, $7K in HSA and about $15K in cash (money market)
I’m happy for you man :) way to go!
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Trading in Bitcoin now is the wisest thing to do now especially beginner....
Most people think, investing in crypto is all about buying coins and leaving it to rise, come on it takes much analysis to be a successful crypto trader.
Trading without professional guide...Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
Honestly I really need help learning to trade. Seeing my portfolio low makes me very sad.
You're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?
Just hit 100k in December 2023. I just turned 24 last week and as of today I’m at 112k liquid, not including other assets. Never went to college and work in a trade for 45k annually.
Can’t wait to hit a M!
You got time on your side. Good going. U will have 10M by age 65
Biggest piece of advice?
@@GioGarnada Continue researching and learning from those that have already done it. a book can teach a lifetime of knowledge in a week or less.
@@michaelcoelho5802 which books do you recommend?
AYE i hit 100K being 23 same month as you! Just turned 24 in February now im at 120K liquid too. Samesies
I've recently come into an inheritance of nearly $900,000, i'm being directed towards the stock market. What risk management strategies are recommended to navigate and safeguard my investment in the market?
Assuming you are a real person... Don't take advice from people on the internet for that sum of money. seek out a financial advisor. Don't use any of the financial advisors that these scammers are suggesting. Find an advisor through a professional source.
90% of these are bots, unfortunately
Too many scammers on here
I got into it too late, but my son is now 8 and we re at 18,000. By the time he is 20 it should be 100,000. So the kid has a good chance, although I missed mine. It's never too late if you have a family!
only if you dont spend the money of your so, what you probably will :=)
@@d4rkbeat I just think you're projecting.
This is the way!
what a great person you are. keep it up - both in terms of you and your son.
You’re a great father!
Ever since I started to learn more about building wealth, I have watched so many YT videos that talk about this very concept - that getting to $100K is hard, but once you do that, your money starts working for you. Been waiting for the GOAT to post a video talking about this concept for a while, thanks Humphrey!
Thank you!
What’s GOAT?
@@stevexspeed7649Greatest of All Time
Greatest Of All Time
Yeah i agree, Humphrey and Andre Jikh are the GOAT.
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time . I was able to build a business from my returns 💚
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
I've come across this name before, is he really reliable?
I know him, he is my family's personal broker and also a personal broker in many families I'm United States, he's a licensed broker and a FINRA AGENT
Wow!, I'm surprised you also trade with Alex Gomez, he's the best at what he does.
he's mostly on Telegrams, using the user.
You broke the numbers down very well. Perfect timing, I just reached 100K. I did a lot of stupid when I was young but no stopping me now. On my way to 1M!👊💵
hell yea never to late
Fake account comment.
@@zasta7Which one? This account is actually the most recent.
Me, too, man. I wasted my 20s
I would open a savings account with SoFi which has a 4.6%APY or you could open a brokerage account with Robinhood or webull, I believe they offer a 5% apy for un invested cash, meaning you’re money is just sitting there on the sidelines and remains safe. That could could you about almost $50,000 a year just collecting interest. About $3800 a month.
I like your dad's saying. It puts wealth into perspective. You can start with nothing and build wealth. It just takes time, discipline, and good financial choices.
Weird timing, I reached the 100k in retirement the day this came out. As munger said, it was a bitch.
Definitely lol 😂
So today then lol
how long did it take you?
How many years did it take you?
Weird timing… me too! So now what do I do? It’s just sitting in a savings account.
This is amazing. “How to build wealth
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon. Give this a try and attain good-returns.
FinanciaI-PIanner Rebecca Mart-Watson (in fuII)
Love your content and thank you for making it easy to understand. Can you do a video of what to do once the 100K is achieved? Thanks!!
the yield on bonds have decreased especially on the long end (30 and 10 Y) indicating that the demand is still there even if the supply remains huge showing a preference for safety. I'm still at a crossroad regarding whether or not to liquidate my $138k
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
@@sharon87390Yes, his name's Jamal
thank you for this Humphrey!!
Thanks for this video. This is something everyone should watch and spend accordingly.
Just a wonderful description of compounding
Humphrey should make a video of people over 40 and the things a person should look into when investing
Thank you will do!
Yes! I’m 41
How about 18 yrs olds who just graduated? Take their grad money and start investing
@@humphreycan you delete the scambot comments?
@@Nitroat-xo4tjignore them
Thanks for these videos!
Thanks for the fun info and content!
Great video. Im a huge VRITOKEN fan and love your videos on it.
This is why I'm slightly thankful for growing up super poor because I know how to / am willing to tolerate lowering my non needed expenses to almost nothing when it's necessary. Lots of lessons are learned rationing bulk bought clearance food.
Great content as always. Hello from St.Louis.
I agree with all this except the point toward the beginning that risking $100 is the same as $100,000. It absolutely is NOT the same risk.
Right? If instead of gaining 10% you loose it, 10k lost is definitely not the same as a $10 lost 🫠
In this context, it means the risk to gain x% is exactly the same. If the market return is 10%, then you get 10% no matter HOW MUCH you risk. The risk PROBABILITY and the return %s are exactly the same.
he just means statistically. the percentage.
You’re risking the same chance at the % loss, but not the same chance at $ loss
Well, not really. You need to look at it as the percentage of your wealth. 100$ is not going to be a huge percentage so losing it is low risk for your level of lifestyle. If you have $100k invested and lose it, it's probably going to quite destroy you.
Super grateful that at 33 I am pushing close to the end of this chart. Cheers to saving and investing since I was 15.
came to this country at 16 my parent never teach me anything about investing, 27 yr now i dont have a savings or a job and no education but i just finished my army career so far future looking uncertain
I’ve never heard about this $100,000 threshold, but I have heard the saying, ( paraphrasing) the first million is really difficult, but once you have it the second million is virtually inevitable
Its easier for a pay check to pay check person to spend 100$ than 1000$. If you gave them 1,000,000$ invested and they kept spending at the same level or maybe even just a little more they would grow without having to think about it.
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time . I was able to build a business from my returns
Great video!
Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
@@VanPelt54u7fcyde57 I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
massive gains! mind sharing details of your adviser pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help fuel my money goal
Bella Mia Darmon is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Thanks for putting this out. I curiously searched for Bella Mia Darmon and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
I personally was shooting for 100k invested by the end of last year. Lofty goal and fell short. But after 4 years of investing every single week. I am at $87,000 invested 401k, Roth, and brokerage accounts combined. Meh. Ill get there lol
I started my odyssey with a brokerage acct back in November of 2021. I'm at $96k now, trying to get to $100k by mid March or so.
@@striperkid awesome. I feel like that first $100k will be amazing haha
It’s so nice to see an optimistic video for once
Amazing video! Thanks
Glad you liked it!
Watched to the end and I totally agree. My first $100k was the hardest. I started investing when I was 30 back in 1998. Today, I'm 55 and have a decent $3.2M nest egg, although i had supervision of my CFP. After learning all of this, my only regret is not starting earlier when I was 25. It may not seem like much but those extra 5 years are the most important.
Congrats on the win man! I am on the same path and It's not even that hard to do. Too rigorous for newbies, maybe, but thats why its advisable to consuIt with good a market strategst.
Agreed. This is why I work with an investment advlsor. I currently have over $800k in a well-diversified portfollo that has experienced exponential growth and is well-matched for every season of the market. We are now working on a more figures ballpark goal this year.
@georgeh May I know the name of the advsor who has been assisting you, please?
She's known as 'Amber Russell Bennett'. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Just reached out to her since I need all the assistance I can get. I just scheduled a caII. Thanks a lot
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.
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
After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery
Glory to God shalom.
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
I'm new at this, please how can I reach her?
The very first time we tried, we invested $1000 and after a week, we received $7500. That really helped us a lot to pay up our bills.
Great video 👌
When that statment was made, 100K usd had a WAY different buying power. That amount of money is too low to relax but i get its more easy to make a video about reaching 100k than 500k
This is old advice on accumulating 100k…it’s more like 200k in today’s dollars from the 90s
very true. I didn’t even think of that!
@@johannab7715 $100,000 today is still a lot of money. Almost 2 years of average salary for American workers.
Had the same thought!
He can make a video about getting the 10,000 and how it speeds up from there it doesn't matter the principle is the same
I really enjoyed seeing the math/graph on how money grows. Even though I technically already "know" the content in this video, and others like it, I always learn more. However, the biggest reason why I love this video and others like it, is that it is constant motivation that I for one need and appreciate. Thanks. More like this, please.
"The first 100k is a bitch." Charlie Munger says in 1950.
$100,000 in 1950 is equivalent in purchasing power to about $1,287,659.75 today.
Lel.
yeah I was thinking about that too. I didn't know when he said it, but like 100k whenever he said it... has to be a hell of a lot more today. getting the first 100k doesn't seem that hard. getting the first million on the other hand... and from a common sense perspective, it just makes more sense. Not that a 100k isn't nice. i'll be there in a bout 1-2 more years if the market continues to do well.
He said it in 1985. 100k then is equal to 294 today. That still don’t change the fact that when you get the compounding effect that really starts making a difference.
Charlie Munger was going around with popped collars
I thought he said that in the 90s
This was excellent. Will show to my sons.
Good, informative video.
Note that he said that about 25 years ago. Adjusted for inflation it's more like $250k nowadays.
shit... lol
Lol very true...humprhey didn't get that. These finance guys are so off ...because on the same idea...after 30 years we get to 1M ? ....lol how much will 1M be worth in 30 years for fuck sake?
@@giovannizanoni6353 In 30 years, we'll be paying for bread with wheelbarrows full of credit cards.
@giovannizanoni6353 Still a lot, lol.
The exponential growth is the same, the only thing that has changed is the buying power.
This is so relatable and true lol. I remembered how tough it was before I hit the $100k mark 37. I am 56 today with over $2.8 million in my retirement nest fund alone, didnt take me any stress to get there. Maybe its because my CFP is reliable, but point is, it was way easier from there.
I'm headed in the same direction, and it's not that difficult. Perhaps too complicated for beginners, but that's why it's best to consult an experienced market strategist.
Agreed. I deal with an investment advisor for this reason. I currently have over $800k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target.
@georgeh Could you be kind enough with details of your advsor please?
She goes by 'Amber Russell Bennett'. I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finances, but so glad I did!!!
I appreciate this share. I set up a call with her and I am keen on getting to talk to her particularly.
Hi Humphrey, what tool do you use to draw those charts/illustrations?
Grant from myth busters keeps giving
It Doesn’t explode. It usually doesn’t even compound any faster. Every dollar matters and the first 10k is pretty important.
Yea, it definitely helps and the returns are a little better. But, it's not a gamechanger.
"Explode" may be an exaggeration, but the point is its exponential growth - wealth will generate easier and easier as it grows - but it won't magically make you rich over night.
Charlie munger said this in 1993, adjust for inflation it’s $300k which I could agree with, at $300k you’re investments should be making more than you can at least put into your 401k as the max is $23k
@@Zachery_agreed. It’s good to use a nice round number, but once you’re at $300k in a 401(k), if you’re invested in the S&P 500 ETF and all of the dividends are reinvested, you can literally never deposit again and still have $3m (adjusted for inflation) in 34 years at average 50 year returns. If you continue to put $20k away, that happens in 25-26 years.
Huh
Is it the first 100k contributed or amassed? Same goes for when calculating NW which do you utilize?
Usually it’s amassed. But I do like to use contributed as a metric to feel like I’m more ahead.
In this video he said it takes about 7.5 years to get to 100k assuming you contribute 10k a year. After 7.5 years that means you only contributed 75k. So I believe that extra 25k is coming from capital appreciation.
At around 5:55 he also mentioned saving 100k doesn’t mean saving 100k. He specifically mentioned that you’ll get there by contributing 90k and the remaining is from appreciation.
Your dad's sayings are not dumb! He sounds like a good teacher and father that taught you valuable lessons about money, something not everybody gets in life. Maybe you should do an episode with him that is just him saying all these words of wisdom.
one million dollars is just one hundred million pennies
The main reason saving up to 100K explodes too, is that anyone who has saved to 100K, doesn't "need it".
If you saved $100, total, youre probably in a state of life whete a minorly bad day means you need $100 and take it all.
When you have $100K, if youre not living too stupidly, even if you have a horrible day, maybe you steal 5-10K. Or maybe you just dont add money that year.
I've lived successfully and effectively thrived before on about 15K/year. There is a world of differencr between what happens if your car has a problem on 15K, vs 50K/year. I just put some serious unexpected maintenence on my car, that was at a level that would have put me into a state of shock and life or death in the past.
I found it mildly inconvenient and a bother to my luxury plans now.
Yeah that base value is the other half of the equation. Give me 1000% return on 1$ and I will starve. Give me 1,000,000$ with a 10% return and I will do just fine. It is easier for the average person to save 100k in 5-10 years than it is for them to learn how to achieve over a 10% return.
This is so very true. It took me 7 years to get to the first 100K. I just checked my VG account. It already made 55K in the first 8 days of February :) Get to your first 100K and first 1M ASAP
The market has been abnormally good.
*Humphrey is beyond amazing. how to grow your finance, do this*
Making money is action, keeping money is behavior and Growing money is knowIedge.
I am fortunate I made productive decisions that changed my life forever (accumuIated over a MiI) through my finance-mentor. I'm a single parent, bought my house in January and hoping to retire at 54 by next year.
sear ch the name, lf you care.
*Rebecca Martin Watson*
What in the bot hell is this
I'm pretty much exactly at this spot now (~110k) at age 34. Guess it's time to consult a financial advisor...
"Luckily" I live way below my potential standards, work a lot and with some smart investing (for me it was crypto, but that obviously doesnt work out for everyone) I managed to accumulate this sum in less than 3 years. But now that I actually got some money at hand I definitely want to be a bit more conservative about my investments. Also while I know how to navigate crypto I actually don't know much about navigating stocks. So learning more about that is the next thing on the menu for me...
Thanks for the vids. You definitely helped me to understand where I currently stand. 🙂
Great video. What website did you use to make the graphs of savings vs interest at 6:30? It's a nice visual compared to the usual compound interest calculators
I’ve been tracking my investment NW since 2021, when I started with 5.5K. I’m now at 44k, projected to pass 60k by EOY. 100k by Dec 2026 is the goal!
You’ll be there in no time friend!!
Compound interest is an exponential function. Most people think wealth grows linearly, its exponetial 😊
Thanks.
In the first scenario, how can you say that the risk is the same in both situations? If you end up with -10% returns instead, you would be down $10,000 instead of $10.
Exactly! Once $100K hits it's a sigh of relief that you've built up the financial muscle memory. You keep practicing investing but divert more of your time focusing on building your career or other skills.
This video is top notch. I just hit 100k started investing since 2008. Sitting at 112k today.
Solid advice...
great video! great reminder to save more money, but still live in the moment!
Absolutely!
Are you a Minnesota Timberwolves fan? You used an Anthony Edwards block and Rudy Gobert block.... I am a huge Wolves fan and I am a huge fan of you. Great content!
*I remember having a consultation with a financial analyst last July, and it was incredibly insightful, can't stress enough how helpful experts in this field are!*
As long as you diversify your portfolio, any single investment that you own shouldn't have too much of an impact on your overall return, if it does, diversifying might might be the right choice for you, as one can also try out other commodities. I now have a balanced portfolio that is yielding profits for me.
@@HendersonMiles-kp8gw That’s why I’m 100% in an S&P500 fund. Diversified over 500 of the biggest US companies and 46% of their sales are international.
Just started a month ago 7.23 (5) into vgt etf everyday and I have 191 into it and have a $2.63, 1.40% return so far
When I started work out of Uni it was pretty slow.
Now that my student loan is paid off, and I'm promoted to a decent salary, and my investments have started to grow beyond that salary... it is really going fast. My only problem is I don't want to spend and ruin it!
Currently have 94k after saving for 5 years, cant wait to hit 100k in the next few months and relax. Also the s&p has averaged about 19% per year the last 5 years so that has helped alot
The S&P 500 will go up and it certainly will go down significantly at times, but we’re in it for the long haul! Just keep contributing and DONT try to time the market. Best of Luck!
You're not risking the same by investing more though...that would only be true in retrospect. In reality you don't know what future returns will be so the higher the investment the greater potential loss.
Yeah by his logic, you should just do some crazy leverage. 😂
I’m 23 years old with some money saved up and man does this feel good to watch this video and remember that I am working towards something every day. Keep up the hard work everyone and see you on the other side.
I would ditch the girlfriend and go mgtow. It's safer for you AND your finances
Good stuff
Glad you enjoyed
Great premise, and love the video, but I agree with many of the other comments that a $100 investment is not the same risk as $100,000
It's the percentage game, where the 10% average market returns is significantly greater when you have a larger sum which is the 100k accelerating the compounding. Great lesson
Excellent video. You earned a like and subscribe. Thanks!
Great Video Humphrey, couldn’t agree more my portfolio is only in its infancy but I’m trying to claw my way to that 100k mark as soon as possible! Even if it means walking everywhere! 😂
You can do it!
We have a saying in India. "Boond Boond se ghat banta hai" translating as "Save one drop at a time, fills a bucket", analogoues to your dad's saying. Love it!
Eating out and DRIKING out are HUGE drains on your money.
This was a great video.
Glad you enjoyed it
Does this net worth count the normal assets-liabilities or are we talking solely on our investments? Are 401K, TSP, Roth/Trad IRA part of this equation of getting up to $100K asap?
hit my first 100K in december, two days before i turned 26!
Damn im 24 on my way, got like 24k invested! good shit my guy
I hit my 100k today, aswell 26! :D
@@killectronewday8585keep at it fellow 26 year olds. The math checks out though. I'm at 850k and close to breaking that 1mil. Thanks NVDA
Way to go
Lies
The first $100,000 was definitely the hardest for me, but seeing how compound interest works with more and more $ is incredible. Great video!
I wish i had this kind of advice when i was in my early 20s. I spent a lot of my paycheck on food and shopping in my 20s and didnt actively save until my early 30s. About to hit my 40s
Is this only applicable in one fund? I am about to hit 6 figures but over three funds and can't see how it effects each fund as they are separate.
This is some value-adding ass content right here boiii
Thank you!
All hat, no cattle.
My favorite line from that book. Lol
What's your opinion on investing to pull out to pay off house?
Good stuff, man. Thanks
He said this decades ago, would be helpful to adjust for inflation to preserve his actual intent. "Your first $200k-$300k is a b****"
Trueeeeeee
How important is the first $100k in terms of it begin in one single area, a single stock fund or something like that? Or is it just "$100k invested across all investment segments"... and does that mean stocks or bonds too? What about international?
His examples here assume a rate of return of about 8% and compound interest. Some good options are your 401k if possible, or Vanguard low cost index funds, tracking S&P500 ETF, etc. So one "place" but covering multiple holdings for a decent risk portfolio.
The S&P500 is The Gold Standard (10% historical returns) and 92% of fancy wealth managers don’t beat the S&P, so forget all the bonds/emerging markets/international and just put it in the S&P500.
@@glasshalffull2930 Even noting that the past 15 years has been unusually high for US? Keep in mind there's more than someone who's 30 or younger and hasn't even experienced previous years... seeing it from the lense of just the 15 years would be a mistake. Just making sure you're not viewing it that way.
@@videosbymathew I’m viewing it as an investor that started investing through my employer in 1985 and saw the stock market crash of 1987 in which the Dow dropped 22.6% in ONE DAY and the tech bubble burst of 2000 in which the S&P 500 dropped about 46% in three years and the 2008 Financial Crisis and the other numerous corrections that happen every year. The bottom line though is that the S&P 500 keeps chugging along and since its inception in 1957 it has returned an average annually of 10.26%. Now bond funds have an average annual return of about 5%. The international funds have an average annual return of about 8%, if I recall correctly. Now, you certainly could pick an individual stock that is a huge winner, but when do you decide to sell? I’ve owned individual tech stocks and petroleum stocks and precious metals. It was a headache and though I made money, years ago I decided to stick with the S&P 500. No guarantee of what the future will hold, but I’m betting on a horse with a long winning track record.
yeah..except that my snowball kept on hitting some random trees and the snowball broke off. hmm...
How would this example play out if that $100,000 is in equity on an investment property ? Would it be smart or dumb? 2. Sell that home capitalize on the equity. Put the 100K into stocks like you mentioned, then use the remainder of the equity to purchase another investment property? I assume we would be comparing that strategy to letting the equity build in the current asset which might be harder to judge?
I know I’m being that guy, but technically saying what amount your wealth explodes at depends on what you think a lot of money is. I think $100k is a good benchmark for most people right now but it’s equally valid to say it “explodes” at $60k, $150k, etc. depending on what you’re impressed by as far as how much you’re making per year.
When you say save 100k do you mean liquid cash or 100k from all assets-retirement accounts, paid for house, EF fund, etc?
I think you missed the key point of this video. The growth is from compounding interest, so the 7% growth used is assuming the money is in a broad market index fund like the S&P 500. Assets actively invested, be it retirement funds or taxable brokerages would be applicable.
It is ill advised to allocate assets like an emergency fund or cash savings to the stock market due to its inherent volatility, and historically these funds (HYSA/Bonds) will only be neutral against inflation, gaining 1-2%. The 5.5% we see in money markets today is fairly outside the norm, and unlikely to stay long term. As for housing, I personally would exclude the equity, but feel free to calculate the expected long term growth of your housing market and add it as a variable to your compound interest formula.
It would be $100k invested, not $100k all together.
So you would have your house, your emergency fund, your car, your stuff, your money in checking,
Then the $100k we are talking about is like what you have in your Roth IRA, 401k, and investment accounts.
Which is what makes this harder. You want $100k ON TOP of what you need to survive. The quicker you do it the better. You basically want an extra $100k to not touch until retirement.