Charlie Munger: Why your first $100,000 will CHANGE YOUR LIFE
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- Опубліковано 9 чер 2022
- (#fundriseendorsement, #fundrisepartner, #investing, #stockmarket, #charliemunger)
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Everyone wants to know how to get your first $100,000 saved and invested. At a Berkshire Hathaway annual meeting, Charlie Munger was asked how to build wealth quickly. His response become legendary in the finance and investing community. The concept of the first $100,000 was born. The concept of the first $100,000 states that people should be very frugal until they have at least $100,000 saved and invested. At this point, compound interest can start to work wonders and can make you rich over time.
This video covers the following topics: How to save $100,000, how to make your first $100,000, Charlie Munger first $100,000, Charlie Munger's financial advice, why the first $100,000 is the toughest, compound interest, how to become a millionaire, personal finance, financial independence, saving money, passive income, Charlie Munger's advice on investing, and much more.
BlackRock’s Larry Fink: The investment opportunity of a lifetime ua-cam.com/video/gE-tKcXkFIk/v-deo.html
What is the point of not using your money when you earn more?
You can keep saving saving saving until you become a grandma;
At that age, you just donate your money to doctors, swallow pills, and release gas while watching tv.
So, Isn't it better to use your money to improve your life, have some entertainment, and travel when you are young (and mid age.
Sure, instead of doing that, you can accumulate wealth and be a old showman too.
Not just saving ,the idea of investing a significant sum of money may be both thrilling and intimidating. There seems to be potential for considerable wealth increase with the correct strategy. How can one take advantage of the present market to grow one's retirement savings over time?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
I recently lost my buddy at the age of 27. Don’t forget to live your life guys. Make wise decisions but don’t give everything up for a “better” life at a later stage. Balance is key 🔑
Completely agree. Sorry to hear that bro, God bless him. Take care of yourself mate, live in memory 🙏
I agree with you.
@@Gambitace747 thank you man, means a lot 👊🏻
Thanks for this.
Stay strong!
RIP your friend. Me personally, I want to live a great life. I'd honestly die trying to achieve greatness than just settling for mediocrity. I don't think life is worth living if you're not passionate and trying to achieve something big before we all die and whisk away into the vast expanse of the universe
I wasn't financial free until my 50’s and I’m still in my 50’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
@@joesphcu8975 who is your financial advisor or coach, do you mind hooking me up?
@@joesphcu8975 Thank you scout for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Thank you Erich! Your message is the fuel that I need right now in my life. I'm 48.....almost there along with you
@@lawerencemiller9720scammer
@@lakersl43lmao shutup you bot. Broke bot
Watching how the real estate market is being manipulated in favor of some persons, I’ll advise we venture into other marketing options and look for other ways to invest that will be favorable to us.
You are right.!
That is why I had to start forex trading 2months ago and I now am making benefits from it..
A common mistake we newbies make is venturing into the market without help and legit guidance
Job will pay your bills, business will make you rich but investment make and keep you wealthy, the future is inevitable.
NOBODY BECOMES A MILLIONAIRE OR BILLIONAIRE BY WORKING FOR OTHERS AND DEPENDING ON THEM, GOOD INVESTMENT BRINGS MILLIONS OF DOLLARS AND CONSISTENCY BRINGS BILLIONS. THE MARKET IS ALL ABOUT CRYPTO NOW YOU MIGHT WANT TO LOOK INTO IT
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
@@kenanporubsky2122 Impressive can you share more info?
@@Oly_laura My advisor is ‘’Christine Jane Mclean’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!
Bull markets produce many self-claimed stock pickers but in reality, the true stock market genius is born in a bear market
@@reginastanfield7061 Reminds me of the phrase...."Rising tide raises all boats" to which Warren Buffet added "It’s only when the tide goes out that you discover who’s been swimming naked"
@@thomasginola9809 With the inflation, the stock isn't going to be raking in huge gains. It wouldn't be a bad time to BUY it, just don't expect big gains from it for a while. I'll buy once things start looking up in all those trouble areas..until then, too much turbulence for me.
@@cuddyb9631 Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
@@billybrannon6394 Absolutely billy, You are definitely going to want someone who has experience managing a portfolio in bear and bull markets. I invest in all of the major markets, but not alone. I mirror the trades of "Susan Agnes Hancock" who you may have seen on the news performing stock analysis. I can confidently claim she's worth her salt as a financial consultant since her diversification abilities are top-notch.
No worries for me, I don't try to time the market. When I see that stock drops below its fair value with some margin of safety - I buy. Past 2-3 months have been huge shopping spree for me. I've got literally like 2000$ left of investing cash. Probably I will miss some occasions in the future months, but who cares as long as I got value?
You also have to look at the balance of your portfolio too. Not be over invested in one stock, I have made that mistake too but I fluked a good result! Never again, but I have a much bigger pot now.
@@sheliaswelttk2535 Agreed i like this mentality. You can never time the bottom but if you're getting good value, take it and in the long term you'll be rewarded :) . Personally I’m always invested because the financial-market for me seem the only way forward with my long time horizon (accrued ROI of over $200k since 2020 )but if you don’t have that fortune of time it’s a tough market out there almost nowhere feels safe!
@@williamskohler8337 You inspire me, I've only just started over the last couple of months. I've been doing plenty of research. In fact I'm really enjoying the aspect of learning and researching. $200k is a milestone, what’s your approach?
@@gabriellewilson5625 No doubt, the stock market is definitely the most awkward teenager with the wildest mood swings! I began with a skillset by name Tracy Helene Aalvik . Her approach is transparent allowing total ownership and control over my position and fees are very reasonable in comparison with my ROI.
@@williamskohler8337 I search on Tracy using her full name and found her reachout-page, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
I completely agree. The first $100k was the toughest but my wife and i managed to save it, we could have spent it on a lot of things i mean we could have gone on vacations but we didn't and funny enough didn't really start seriously investing until I was 30 back in 1998. Today, I'm 53 and have a decent $1.2M nest egg. 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.
@@stephmeldrich6765 His name is James Fletcher Brennan. do an online search to find him
Consistently investing in quality dividend paying companies over the long term is a relatively easy strategy to create generational wealth.
out of curiosity I did read about James Fletcher Brennan on the web, he has a great resume.
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When referencing corporate America, he said “They don’t really care about you as they make it seem” realest thing he said...I’ve seen experienced it first hand in the DMV. Black ppl aren’t really respected in corporate America. Glad that he was able to get out of there and become his own boss LIBERTONCORP
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You should do a new video about LIBERTONCORP ! I really like you’re mellow delivery and you seem like you’re very knowledgeable. I watch lots of influencers and you always seem very calculated and know exactly what you’re talking about and understand it. You’re better at explaining complicated things simply, than any other person on youtube keep it up brother!
I’m at the $50k mark at 21. Hoping to hit 100k late next year :)
Update: age 23 now, hit $100k in investments today! 💪🏽
Love to see it! Congratulations :)
Can you share how you did that so we can be inspired to follow your lead?
Insane for your age. I hit 100k at age 25.. working in sales and living at home for 2 years after college allowed me to go from 0 to 100k in 2 years
Don't get cocky though, was on around $30k myself and managed to lose it all in a year. It was cause by a toxic relationship, lack of care for myself, losing sight of my interests, and bad decision-making. Stay regimented bro and make sensible life decisions, not just financial ones. You'd be surprised how quickly you can destroy your finances if you lose yourself.
I have $700K and still feel poor. I have always said that money will only really buy you happiness when you have enough to never work again and also to buy your own home. That is about $5 million in 2022.
I wonder how many recent buyers have over leveraged their finances to make a purchase anticipating a quick resale and profit. Will this lead to a series of bankruptcies if we slide into a recession next year, as some analysts are predicting.
I believe that the inflation is already priced in market since the end of last year. These manipulative rates are always 2 steps ahead of everybody because they are market makers, I hope I’m wrong and they won’t keep dumping it on retail investors as always. Those who hold the longest will profit the most, I trade and hold profits
@@sebastianzhikov8842 I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, there is ALWAYS a way to make money in this market! While the market has not been set to easy mode recently, there are still nft to flip, solid coins to stake, IDOs to ape into, trades to make, yields to farm. Never stop hustling for those gains!
@@lisaollie4594 I'd say invest in good projects and DYOR if you don't understand, dollar cost average instead of going all in at once, so as to give you a good value for your money. Also i'd recommend seeking a fiduciary financial advisor who will guide, and show you the ropes as you are just starting out. I mean the likes of ’Theresa Mary Chamblee' just like i did. she's seen dozens of market cycles over the past few decades, and she has a feel for how they move, why they move, and what comes next.
she is very much accessible to the public, just search her full details and lookout for her official-webpage
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I hear people ask if this is the right time to invest, yes because the stock market have always and will always be a volatile market, that is why it is important to have proper research, analysis and strategy when investing
The market is so volatile now to be depending on bull run to make profit or investing without guidance, I advice everyone to trade now with a working program with like that of Laurel Michelle Packham, so far she is helping me find investment that has significant growth potential which bring high returns and profits, i am so happy finding her.
The market is constantly evolving with new features, trading opportunities, financial swings with sudden surprises around every corner. the best thing is to stay in touch with a professional who knows their way around the market and have a sound trading strategy to ensure you have returns on your investments.
Investment is the key to wealth but wrong investments can leave you scars, be careful out there what and how you invest and if you do not have enough experience or expertise, contact someone who does. The goal is to make profit and grow, not just to invest for investing sakes.
I’ll take investments in stock any day they’re very remunerative only problem I’m having is I really don’t know how to go about it,I do get lost and overwhelmed by the markets. Any solid pointers in reaching this trader would be helpful,I’d appreciate if I got a reply
Interesting I'm also a subscriber of Laurel Packham’s signals and if I were to rate her accuracy, I would say perfect 👌, she has the best trading {ROI}.She is a regulated broker so she is very much accessible to the public, just search her full name online, check out her website for information concerning her services, then mail her for guidance.
I completely agree. The first $100k was the toughest, and I didn't really start seriously investing until I was 30 back in 1998. Today, I'm 55 and have a decent $1.2M nest egg thanks to my fa Emily Lois Parker. 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.
Is there any chance you could recommend who you work with? I've wanted to do this for a very long time now, but I've been very hesitant about it. I'll appreciate any recommendation
@@Lorre386 certainly, she goes by Emily Lois Parker. run a web search to connect with her
i'm happy there are lots of people doing so well...Love this channel for the transparency
Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
i also work with Emily Lois Parker, since last year i invested $100k with her and made over 400k profit in less than 3 months
It makes sense, BTC and crypto is off helping to regulate, rather than pretend it won't ever happen. The big institutions getting in is the catalyst that will launch us into the stratosphere. Most people don't like change but after the change is made they grow used to it and it becomes a non issue usually because their fears never materialize. The projects that initiated the process of regulation have not been ruined, they got involved in setting guidelines and helping the regulators understand the crypto space. I’d get involved more knowing that I have made over 7 btc and 15ETH from day-trade with Liberton Corp in few weeks.
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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 MULTIMILLIONAIRES.......
@Felicia Combs Kross Yes of course you can contact Carol Brewster on her whatz App
+1520
428
4134
my first experience with her gave me the assurance and confidence that has made me to invest without fear of losing
If you bought stocks two months ago you should be buying heavily now to low your average price. if you’re not buying today it’s probably because you didn’t get a fair price and that your stock gown down scares you so you don’t want to lose more money.
If that’s the case, you didn’t make the right invëstment choices.
@@blaquopaque Working with a pundit to develop a well-structured investing portfolio is a wonderful approach to get started. That's why I've been working on my dealings with "Theresa Mary Chamblee" Because most investors enter equities and exit with a rapid 10% to 20% profit, I've learnt to be patient with stocks. They miss out on the massive gains since it trades at a P/E ratio of 40-50.
Thank you for being there LIBERTONCORP when I wanted you to..... I was lost in this new world that I was hassled to start with ....you not only guided me along the way but you also showed me the proper way....whatever little I have been able to achieve in life is because of you today ..... I want to thank you for being there and showing me the proper way of doing thing for me you are my best guide as you truly showed me the way to life....once again , I would like to tell you a heartfelt thanks for being there.
Lifestyle inflation is a big challenge. Also, if you think it's hard to manage when it's just you, it gets even worse when you throw a spouse and kids into the mix. You both have to be on the same page because the though process will be why are we struggling this hard when we make enough money to make things easier. You have to constantly remind yourself and everyone else what you're working towards. Then you have to strike the right balance. Living for today is just as important as living for tomorrow. As you work towards building that future, think about the value of what you are sacrificing today. Just like starting early with investing, some things in life are better experienced early in life, and some things you can't do later in life. Life isn't about making money. Money is simply a tool.
After listening to Rich Dad Poor Dad I experienced lifestyle deflation. I sold my sports car and now drive only an old Jeep Cherokee. Losing the monthly car payment and lower insurance has made my saving/investment journey much more enjoyable.
That is awesome!
Back when this mummy made his first 100k, these money were worth the same, as 1.2 mil today. So yeah... there's that. 1.2 mil are definitely going to change my life.
Not true.
Excuses!
It's true! It took me 25 years to hit $100k, 2 years to hit 200k, and then 1 year to hit 300k, 1 year to hit 400k. All while making $50k-$67k.
The compound interest really starts to show as your balance grows. The first $100k is almost entirely from saving. But now if the market goes up 10%, I make $40k, which is more than I save in a year. I normally save about $25k-$30k per year.
Eh..if you are counting 25 years from birth that is kind of inaccurate. You should only count the length of time you started working
@@scholaroftheworldalternatehist I had been working in some capacity since I was 16 years old. Saving birthday money, etc. I didn't begin my career at zero. If I recall, I was worth about $30k on the first day of my career. So it took me two years to go from $30k - $100k. I was saving so much at the point in my life. Living with my parents for the 1st year. I discovered Roth IRAs when I was 20, and have been maxing it out ever since.
Nice I’m 23 and have 95k invested and putting as much in as possible while the market is bear
Stocks are not "compound investments", only the dividends paid by them can be compounded.. about 1.5 - 2% (S&P 500) not the 10% everybody likes to put as example in all this videos 😂.
I think most people missed the hidden underlying point. You get to $100K by creating habits. The $100K is a big enough target that you'll have to consciously give up your daily Starbucks coffee, iced tea instead of water, etc to get there. Once you have gotten to that point it will be ingrained to not spend money frivolously and your wealth will build.
Bingo! You completely understand
Absolutely. The literal silver lining for me was the pandemic. There was nowhere to go and nothing yo buy. My daily Starbucks habit gone. Fast food gone. Excessive travel gone. Subscriptions gone.
Don't have a car,so NO payments for gas, insurance, parking, tolls etc.
Amazing to realize how much 💩 we buy without thinking do I really NEED this or am I just getting a dopamine rush from the,shiny object or from the shopkeepers smile?
Saved a ton of money. Invested a little. Helped family some but got taken advantage of and closed my wallet to them. (be real careful with them)
Then cut everything but basics.
Almost there but it still FEELS like climbing a mountain. I wonder how it will feel at the summit hitting 100k?
Even with the current dip in crypto, I still thank you for the level-headed financial advice. I started stock and crypto investment with $4,345 and since following you for few weeks now, I've gotten $18,539 in my portfolio. Thanks so much LIBERTONCORP
LOL What a load of BS.
@@TheHigherVoltage It's NOT! I began with $20k and my balance right now is $5400, you can really leverage your gains, and also your losses with crypto 😅
Very nice. I have a little less than this and currently considering going into either Stocks or Real Estates and thought this would help. Confused on the better more lucrative option atm. A major deal breaker is also that which is less time intensive.
Why not both? With the present economy, you should never forget to diversify. Do not put all your eggs in one basket. As one who has been into Real Estates for as long as I can remember, I made my first million earlier this year from stocks alone (had to use the services of an expert though because I also have time constraints). I also experiment with a couple of other things. Hard to imagine that I had initially refused to try out new possibilities. Good luck.
the housing market is a mess right now
@Kentucky Funny enough, I can honestly relate. I don't know if I am permitted to go into details here, but mine is "Stephen Joseph Kohlhofer" and you could look him up . I'm not so sure he takes on new people right now, but you could try.
@@marlenaaj wow I know this smallish man. Once attended a fundraiser he was also in attendance in Vancouver,, Great speaker with a funny accent,, He's in the States though, I
doubt he works with non residents,,,
@@michaelchad5241 This right here is the second time I am coming across this name in a week. Came to my workplace for a program and it was lit. found nothing funny bout his accent though
Remember that Munger is giving advice on how to get rich, not how to live a happy or meaningful life.
Keep investing in your 401k. Start early and stay out of debt. Those out of debt sleep better.
Send me a
ᴛᴇxᴛ ᴍsɢ ⬆️⬆️
On asset managings
Thank you for these videos! You are one of the primary reasons that cause me to save as much as possible. I am building my emergency fund first. Then paying off debt, followed by investing as much as I can. Once those goals are checked I will increase investing as much as much as I can. possibly 35% of my annual income for the next 20 years. Thank you again! Keep up the great work!
Love to hear it! Best of luck on your journey
I don't know how much debt you have and at what %, but you could also build a base emergency fund of 3 months, then paying off debt, then building the full emergency fund. 35% is a nice goal. It's similar to mine.
I did get to my first 100k in January. Then, the bear market quickly unmade me a hundred thousandaire again 😅. Still consistently buying and will be back to that mark and further soon, hopefully.
I came here to learn how to invest after listening to a guy on a television program about the importance of investing and how he made $260,000 in 4 months from $80k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.
That's true and you can imagine the profits people are making daily by just trading stock market or bitcoin
Investing in crypto and stock market is a good idea, a good trading system would put you through many days of success.
A lot has changed and that's on everything but the truth is that i don't even care much about bullish or bearish market because Jeff O'Reilly help me a lot, I am comfortably earning monthly
I have been researching all this while for a digital asset to invest in and I found the crypto market to be the most profiting of them all, I'm definitely bouncing on it.
Wow. I'm a bit perplexed seeing Jeff O'Reilly been mentioned here also. Didn't know he has been good to so many people.
Thanks for this. I've seen videos like this plenty of times, but it's always good to have a reminder. Great vid overall, def one of the hardest hitting ones. That 10 year difference example when your 70 was jaw dropping.
Just come from wealth. No debt. Get 25k a year gift from mommy and daddy every year. You'll have 100k pretty fast.
Nice video! If Munger said this in 1995, then updating his advice to account for inflation means people should save closer to $200K in 2022.
That is a very good point! I debated talking about this in the video but I didn’t want to make it too complicated
But who has saved 100,000 to even consider 200,000. My goal IS 100,000.00
It will be impactful to your situation is the point. I’m still working towards my second comma.
I think its the principal of saving and compounding your money then the dollar amount is irrelevant
@@Ok-uc5in when I was 19 years old I wanted to buy a house. I had no credit and a mortgage broker told me I needed a 20% down payment of 60,000.
I found a weekend job that paid 13,500 per year. I also saved some money from my first job. 4 years later I had the down payment and closing costs. 100,000 seems like a simple sum to save if a person is determined.
Getting compound interest is harder than many people think. ETFs are not returning much now, most are negative this year.
Exactly
It’s literally a fire sale right now. If you’re early in your career, this type of pullback on the market is a once in a lifetime opportunity to be buying.
Etf iwda YTD 18%....
when we have people with masters degrees working at starbucks with 100k in student loan debt stock piling 100k went out the window for most people who listened to the advice following your heart and the money will follow.
So where do you get that compound interest? What’s your exact portfolio to get it?
You must spend a lot of time at the Hamptons if you know plenty of 24 year olds with over $500,000 invested.
27 and got my first 100K 🎉
Love it ❤️ congratulations!
I hate change, so I’ve successfully avoided this milestone for 31 years
Classic advice that did not make sense to me much at a younger age, but now i am determined to apply. I feel the future is bright
Essentially invest in either real estate or the stock market, the people who don’t have patience get burned. If you can godly for 25 or more years you’ll make serious bank off of compound interest. Hope that makes sense
This is exactly what I did in my early 20s! At 26 I hit £100k! At 20 years old I began saving at Uni (I know how crazy that sounds) and when I graduated I stayed with my parents, got a job and built wealth! One of the craziest things I realised was the more money I had invested in shares the more the market actually dictated my wealth rather than the amount of money I was saving. Believe me, if you want something badly enough and you get good at delaying gratification it can be done!
Who told u I’m gonna live till 70 I want to be a millionaire now 😂😂😂
Not possible. Turtle wins the race. Put 2200$ a month into the S & P 500 for 16 years and you'll be a millionaire.
@@jondoe5305 can’t u only put 6,000 a year in a s&p?
@@kingwild772 that's a Roth IRA
@@jondoe5305 Oh okay i have most my money invested in a roth IRA index fund do u think i should prioritize the S&P instead? or will i get the same result with either one ?
@@kingwild772 both produce about 10% on average. I would do both. As soon as I finish my emergency fund because it took a big dip I am putting 500 into a Roth and then 500 into my robinhood app for the S and P 500 every month
Had no money at 30 years old, and no w2 for 7 years. I got involved in the legal hemp industry and stayed in it for 5 years until the company filed chapter 11 - I worked 12’s almost every day and in 2020 worked every day for roughly 10 months with no break. I knew the company would fail so I made as much as possible in the time I had; I work in the pharma industry now thanks to all that sacrifice and skill building and hit over $100k in investments a year ago.
Probably the biggest principle I champion about money is that at a certain amount, the investments you build will ‘outwork’ you. Fast today so you can eat tomorrow.
This advice boils down to "have a high paying career then save and invest"
Amazing. Such wow.
There’s plenty of people with high paying jobs living paycheck to paycheck
Remember, Charlie said this over 30 years ago. If you asked Charlie again, the number would likely be much higher than $100k
I’m estimating about $200,000 now, assuming from 1995.
that's true, but the principle is the same -- live below our means, save & invest as much and as early as possible.
@@Anonymous-ld7je that was pretty much assessment as well
I'm 22 and have over 100k, it doesn't really make a big difference. Maybe once I hit 200k we'll see if I feel different
If you do nothing and put it in the S&P 500. You have 3.5 million at 62 years old.
@@marcwareham9351 yes that is exactly what I have done/am doing. I'm pretty much set. I'm very fortunate. I even inherited my $3mil home in Vancouver, one of the world's most expensive housing markets.
@@johntiller605 thank you for the advice. My family tells me the same and that I'm too frugal for my age and wealth
@@cirentXD 👍🏼. From now on I’d keep it private and to yourself. There’s lots of scammers out there.
@@marcwareham9351 That may have been true in the past - but now, is the market going to keep going up? It goes thru cycles.
Reiterates what I forgot a few months ago. I had a mid life Crisis of buying pocket knives.
When I was 35 I woke up and realized I needed to catch up on saving and was hell bent on making $100,000.00 . That milestone to me was the equivalent of me working 10 extra hours per week, while I was asleep. In another 30 years I would be working full time in my sleep while I was retired. At some point there would be two of me working rather than just one of me. And then three, and then four and so on if I lived long enough .
The hardest part is getting guaranteed 10% every year
It’s not a guarantee. It’s an average. Overtime you’ll get 10%
@@CurieBohr yes exactly
@@CurieBohr Where.....will you get 10% Crypto? Crypto is like stocks - it goes in cycles.
@@sundancer7381 dont invest in crypto, horrible investment
Fantastic presentation. Immediately subbed. Looking forward to watching more of your videos.
I appreciate that! Welcome to the channel :)
I'm hoping to get my young daughter set forward on the right track.
When she starts working I'll set her up with a Roth IRA and a online brokerage account. Every dollar she invests in the brokerage account I'll match in her Roth IRA. Hopefully she comes out of college in her 20's with $100k-200k in investments. Puts her over a decade in front of my wife and I were at.
But she'll need $10 million by retirement to have the equivalent of $1 million today because of inflation.
One thing I'll say is if everyone needs $50k a year to survive, the guy making $150k is saving twice as fast as the guy making $100k so every dollar past the $50k mark is super powerful. With the interest rates high and a stock portfolio, I am looking at $800 per month in passive income from investing and high yield savings because my income far exceeds this $50k mark and I didn't let that higher income drastically change my spending
I'm 20 and already have 30k... another 70k to go but I can Invest up to 1k a month... =) I try to get 100k at 25. Wish me luck!
You’ll get there sooner. Just don’t inflate your lifestyle as you make more money. Just invest more as your income increases. Keep cost of living low.
@@arta276 thats true. I'll keep my living cost as low as possible and can invest more money. I hope I dont forget to keep you up to date. See you in 2025 ^^
@@laracarria I’ll wait for the update :)
One of the best advice and videoes i have seen.
I’m glad you think so! I really appreciate the kind words
@@InvestorCenter This definitely isn't the case in this current market ..I had well over 100k and that has been depleting almost daily since recession has hit..Nowhere to hide currently...lol
Made my first $100k at 19 I’m ready to make more now
I've made 300,000 in liquid and it hasn't changed my life. It has destroyed me, it's been depreciating since 2021. The same dollar value sitting in one account. I worked EXTREMELY hard for 4-5 years to save that money and I have done absolutely nothing with it.
C.Munger shares his experience and knowledge and that is rare!
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Getting rich off crypto is much tougher than it seems. I keep losing money while trading with these youtub videos, and finding a trustworthy professional trader to help out with these trades also appears to be nearly impossible. This is extremely annoying
That's true! Most failures in the market system today is as a results of poor orientation and bad experts methods in winning
Now! One thing I tell everyone is learn about real estate. Repeat after me. Real Estate provides the highest returns, the greatest values, and the least risk but you have to be patient
Current real estate prices aren’t high because they have been driven up by irresponsible speculation. As was often the case in the past. Prices have risen because a constantly increasing population with money to invest has been created - and continues to be created.
Yes you are right. Investing was the best thing that happened to me last year
Doh most coins are going to x10 this year. The recent market correction is dip from its high which has made everyone to panic in the past time. However, not every person has seen it as a bad omen. The digital asset's price had gone low causing people to believe the bear market
Are you talking about $100,000 in your Roth 401k or $100,000 in your own savings account in the bank?
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I just hit my 100k mark at age 33. I will continue to put 15% of my income plus some extra into other personal accounts. Youre right though about lifestyle inflation. With the job I'm in, I can very precisely calculate my income, and because i know what I'm going to be making in 10 years from now, my mind thinks I can spend more, much more than what I can afford right now. My spending becomes more frivolous, and i already see it as a problem.
Can you please give an example of asset class which can pay 10% per year? I want to be next Charlie 😅
Stock as well as real estate (if leveraged) can pay you 10% and more
Easy, get you hands on 100Gs and then get 10% a year. Simple as. We're all gonna be rich in no time.😂
This many is brilliant. We all want to go the easy route with all these 'gurus' who promise big sales. This man is telling you , grind to get the 100k..ease off the gas and let the markets do the work.
Charlie is amazing.
This really is not a practical guidelines for "average" Joe. Until the retirement, you can't spend a penny from that money. Whether 3 million or 7 million, the principle of having been saving and preparing for unemployed time of old age is a sound advice, but life happens and money helps. You need marriage, connecting to family, and house with kids in your 20s to 30s - that money I think is better spent there than in your investment. Family is the first investment.
get married after you stabilize and after you have invested that 100k
@@personspec8881 that's what I did
Need to prioritize stability. Then family. And never take your eyes off your purpose and goals. Also, you need to start early to best leverage compound interest.
I hit $300k at 21, bought leveraged etfs and now I only have $15k
34. 100k All together in savings and investing. I can eat out without feeling crappy-in fact just eating out once a week and im satisfied.
Annoying part to watch this is to realize that Im already 36y and have like 4y to make to first 100k.. should have started so much more early..
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Great name. Love the reference. I subscribed
Thank you!
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For me the first 100,000 was a matter of frugal living which is the core theme of the fire movement. After my first 100k I'd become so use to a frugal lifestyle that even after retiring early I'm still cheap LOL
how old are you
@@scherebeatle I'm 47, and I retired 8 years ago. When I was working I did overtime 5 days a week and sometimes 6. I invested everything except monthly expenses and a small play money amount and only went to outlet malls for clothing. I also learned something very important to financial success. Remember these words always, "it isn't how much you make that's important, it's how much you keep. "
I just learned that when he said that 100k in his time is worth 875k today.
Good luck trying to consistently achieve 10% returns 👍🏽
I had my first 100k at 19 from working hard and working 7 days a week… 100k was easy to save up but your first million now that’s a real challenge still working on it !
🧢
$100k is exactly the amount I've lost on the sharemarket in the last two months. 😁👍🏼
You only lose it if you sell, which would be beyond foolish at this point.
@@ItsDaCMD Yes, you are correct. I could have worded my comment better. Current market value of my portfolio is $100k lower than it was two months ago... But I know it'll come back, long term average annual growth is 10%, it's all good 👍🏻
Stocks are a gamble
@@TanRicky321 only in the short term. No one has ever lost money on owning diversified stock for over 15 years.
If you had kept $100,000 in the S&P500 10 years ago, you would have more than $250,000 today. It's not that hard.
Clean and correct "easy" to use breakdown. Thank You!
Thank you :)
Very inspirational.
Success isn’t easy to come by,it is gotten through hard work and hustle …
That’s true, it’s good to have multiple streams of incomes.. unfortunately having a job doesn’t give you financial freedom or security
Speaking about being successful… I know am blessed if not I wouldn’t have met someone as spectacular and good as mark Allen
Was pretty much scared at first but over the years he proved himself and I am earning 30000$ on a weekly basis
He trades on my behalf due to my tight schedule and he is absolutely doing great
I made a lot on my investments with him…. I started with a of a minimum payment of 4k
Wow, it’s amazing to see those who trade with mark Allen… I’m on my 6th trade and my portfolio has grown tremendously and have had gotten a lot from it
It has really helped me in solving my financial issues and changed my financial status for the best.. all thanks to my bestie who introduced me
*Great! your potential seems timeless*
I have saved 300k up. How can I deploy it to prolific lnvestment? Reading books on investing and as well get started…. Thanks
@Douglas Chester Thanks so much. Really need help, if you don't mind can I get in touch with your consultant?
UA-cam has been of great help to many facing challenges of making best decisions on what to invest in, but it's not enough cause most people don't understand what they watch. So it's important to seek the advice of a professional before any investment decision
@Douglas Chester I’m delighted to engage in this opportunity, I just found the web page and have already written her.
Olivia is the best in this space, I'm happy to come across these recommendations. I have worked with her and I am impressed with the thoroughness and professionalism of the investment diligence packages she provides
Great video! 👍👍👍
When you're calculating Income, make sure to take out tax. A 65k-a-year salary would only bring in maybe 48k after tax in a high-income tax state like Oregon.
The savings are a little inaccurate here. As income increases, overall tax rate increases too. Part of those “increased expenses” aren’t even the fault of the worker. One could also argue that inflation makes 2% expense increases impractical, given the 10 year US average is around 3%.
The principles of the video is still stand, but since taxes are mandatory and inflation is real, they should be included in all the calculations to give more accurate numbers.
Also... Stocks are not "compound investments", only the dividends paid by them can be compounded.. about 1.5 - 2% (S&P 500) not the 10% everybody likes to put as example in all this videos 😂.
Also, if someone's expenses are high it could be due to a higher mortgage, which usually means more valuable house that will appreciate over time.
You should also cover the case where your living expenses go up significantly with NO lifestyle inflation, such as we are seeing now. I live just as frugally as I did 2 years ago, but my wage has stagnated relative to inflation, and costs are up. So I have less money to save and invest, and I predict I will have even less next year. And there seems to be nothing I can do about it.
I think this video took care of this issue with invest in your self. Set timr aside to grow your personal wealth, this may be changing careers as well.
Regarding your statement to snow ball down the hill, what if there is no snow down the hill? Or there is long incline down the hill that prevent the snow ball from continuing momentum.
So some issues with this theory,
1. In perfect world, getting consistent 10% per year is tough especially with our time
2. Being able to time the market and dump a lumpsum of 100k and see it grow consistently
3. In history, we have seen where the market can take up yo 20 years to beat previous high. Our recent one, Nasdaq from 2000 to 2015.
Stay invested yes, but be wise on entries and exits.
Hello from Poland, I just saved 100 k and will start investing in this year. First im looking for: KO, J&J, PEP, P&G.
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With current stock market situation what is the best investment one can do right now?
Oh yeah you have to see the favourable rise in profit trading foreign exchange market, This will be the best time to invest in foreign exchange market based on current status
I have been making a lot profit through foreign exchange market trading which has been the main source of my income
@@williamporter1495 I’m interested I want to move to foreign exchange market trading can you help me trade?
@@nalagreg9097 Actually an expert broker handles my foreign exchange investments while I invest in some real estate with the profit I make
@Frank Moore I don't think 10k is too small to start with, all you need is a good broker to guard you
I started investing with 5k
Love your content !!!! 💪🏽💪🏽💪🏽
Thank you so much 😊
Most people don't have the vision, knowledge, conviction, emotional balance, experience and temperament to save piles of money at a young age and invest it in an index fund. The very rare few that try, will ultimately fail, for one reason or another. Our attention spans are so short that we get impatient, read some new info or have some new ideas or new conversations with others and get thinking that we'd better change it up, do something different, to make money faster because index investing is just too slow and boring, plus, we think 'It can't be THAT easy!' We feel the need to do something, almost constantly. The rich man's trap, the urge to always do something. Afterall, that's what made him rich, being so busy and productive, so he's afraid to stop, even for a day, for fear of going backwards and losing it all, losing the love of his wife and kids, etc. Investing is the one domain in life where doing nothing is usually best and that is hard for most people to grasp and apply. Fidelity reported that their best investors... are dead. Dead investors can't try to dance in and out of their positions, switching funds, getting impatient, greedy, fearful, etc. So, if you're older and haven't saved anything or you've lost it all from divorce, whatever, don't panic. Exhale, relax and let this new knowledge sink in. Buffett's advice for most of us is: 1 Avoid debt, 2 Have savings (to take the pressure off), 3 Buy the index whether it's up or down and if it's down, try to buy more. 4 Don't try to dance in and out of your index position (don't try to market time, reacting to news stories, tips, second-guessing your strategy after 2 or 3 years into it or at any point really). and 5... 'Ignore the experts, even me.' says Buffett. That's it. Start where you are, use what you have, do what you can. You probably can do this. If you feel bad about missed opportunities of the past and only starting investing later in life, or re-starting from zero, just think, at age 25, that's already fairly 'old' compared to a kid and decades of lost chances. What if your parents had bought you an index fund at birth and invested say, just $25 a month until you were 18 years old, then stopped? You'd be way ahead of most people you know and you'd feel glad that you had been invested since birth. The point is, you can't go back in time and invest so just relax and start now and do your best.
Note that we are talking about $100k in 1990. This is about $233k in 2023.
Can you do a video on how you got to $500k at age 24? It will be very inspirational that you reached the top .01% at such an early age. Otherwise, we just think that you are full of you know what.
Love your channel. Even though I’m 75 years old, you’ve taught me a great deal. Thank you.
@@patlongrie317 thanks Pat!
probably another bs youtuber,
@@InvestorCenter Are you going to make a video?
@@untouchable360x sure. What would you like it to cover?
I will spread the words to my family and best friends
Thank you!!!
It does not matter in the end whether someone reached or you reached $100,000 at 25 years old. In the end, there is no guarantee the person who has a million extra due to having invested early is going to live long or be healthy when older. The younger individual would probably had stressed more to reach $100,000 and this will show up later in life as stress and it will be detrimental to your health. There is no point having more millions if you are going to give them to your doctor, insurance, and IRS.
Does this 'first $100,000' include what is in your 401K or is it first $100,000 in more liquid assets?
The only way I know to quickly save 100k rn is to keep aside some money every month until we reach a 100k.
Exactly, it's a snowball that doesn't grow.
If not invested in the right thing inflation will eat your lunch. It can get to the point inflation and taxes will rob you of your gains faster than you can save or even make money.
I used to feel overwhelmed when my portfolio would drop a few dollars. Now that I've learned how the market works, I see bear markets as a giant opportunity to build generational wealth for me and my family. In just 5 months my portfolio have accrued gains of over $300k
Hello. I’m keen on getting started but have close to zero knowledge on how it works. How are you able to do it?
@@richardbryan9434 Working with an FA will help put you through on your wealth-building journey if you're just starting out is a wonderful way to get started and that's how i was able to accrued good gains . They helps to manage investment overall risk profile , prevent permanent loss of capital consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your fin goal
@@lucaseverett99 How can one find a verifiable fin Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@richardbryan9434 DOROTHY DONNA TAGLIENTE is a good one. been enjoying a good working relationship with her. you can look her up online
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I'm at $200k at age 30, with $110k in retirement vehicles and the rest in cash. I'm going to be starting a coffee truck with some of that cash within the next 9 months. Trying to work on diversifying
Sure can't wait to live my life at 70 years old.
Well the reason you have half a million dollars is you have a high paying job or you inherited a lot of money simple as that. It's not because of compounding interest You're too young
I had $100,000, invested it, and now I have $70,000 🤦♂️
This is inspiring. I'm 18 and I have 20k, i work as a labourer. I live with my parents and don't need to pay rent or bills so I will hit 100k very quickly. And on top of that I will be getting a lot more than 10% a year, I just gt 10% in 2 months on etoro
Dobt forget to help your parents out and don't take on too much risk...or too little good luck my guy I'm 23 with $60,000