Why Your First $100K Is The Hardest
Charlie Munger: "Accumulating the first $100k from a standing start is the most difficult part of building wealth". In this video, I go over why the beginning stage feels like such a grind and how it gets much easier after that. Enjoy!
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The video looks at an example of $10k invested every year in the stock market and tracks the growth of each $100k on the path to millionaire status. Each checkpoint along the way takes a shorter and shorter time due to the magic of compounding. I also cut the data in multiple different ways to really explain how powerful compound growth truly is.
Towards the end, I put together a 3 step action plan to get all the viewers well and truly on the journey to becoming a millionaire!
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ABOUT ME:
I want to share stories and lessons learned while first moving to America, planning my journey to financial literacy, and adopting best practices into my life. As an international, it was difficult to find relevant resources to understand the aspects of life that were different in a new country. This channel is a comfortable space to have those discussions and help each other out!
DISCLAIMER:
1. The advice provided in this video is for informational/entertainment purposes only. The creators take no responsibility for any actions or decisions you may take based on the contents of the video. Please consult a professional for strategies related to your specific needs.
2. All the numbers/information are presented as of the video filming date and may change by the time viewers end up watching the video.
DISCLOSURE:
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