How to Save Your First $100,000 

I started back in 2020 with nothing. 100K took about 2 years. Currently at $162K. I didn't increase my income, just drastically reduced my expenses. Gazelle intense!

We’re at baby steps 6 and 7. We are paying extra in principal and saving aggressively but because of inflation, it is getting harder keeping the same budget monthly. We need to increase our income in order to adjust the budget.

My wife just resigned from her job, but during the time she was working we were able to attack our mortgage with intensity freeing up pmi charges. It was a huge milestone for us, now that her income is off the table we have to re adjust the monthly budget, the 4 walls are no problem we just dont have that extra margin to reach all our desired goals at the time we had initially intended, which is fine. At this point we're content with the accomplishments we've made so far. She has the flexibility to be available for the children and this is one of the struggles we had going on while she worked. Everyone has different challenges, with different levels of difficulty, but all I can say is to stay committed, be content, set your goals, and keep pushing forward until those goals are met!

We are doing a low spend year. It’s trickier than it sounds but we are down to 28.2 K I can’t wait :-) so excited to be finishing step six …soon!❤

Y’all!! This really works! In 2019 we were all in with these baby steps. We decided to downsize to less than 1000 sqft, which allowed us to have no mortgage. For 6 months we lived in 240 sqft (2 adults and 4 kids). It was the funnest adventure ever. You have to make it fun to really make it work. Before the downsize we sold off everything that wouldn’t fit. Now we are working on saving up more money and hopefully being able to use that to start a farm. I’d love to see $100k in my bank account!

I’m 60% of the way there. Having $100k saved is going to be huge coming from a low income background. Not sure what to invest in once I get there.

Just invest early and often guys. $500 a month for 10yrs will get you there.

All of this takes YEARS & YEARS on the average US salary. Been following Dave Ramsey for over a decade and still working towards $100k in savings. I don’t count my home equity, it’s not available & if I sell or use it just have to start over but now without a place to live.

Would like to start seeing/hearing more information for those who make below the "average" income but would like to still build wealth (but also have a family and cannot just go out and get a second job or have family that helps them out). I feel like this is a common place to be in and a lot of people feel stuck. We are on baby step 4 and it has been so hard to grow past that.

How is this a “how to save your first $100k” video?? This is just going over the baby steps.

I love your top! That color looks great on you. Love the show!

Thank you for this show, this platform needs more positive people and content.

It's the first time I understand it this way. Now it's another way to look at it. So I just have to pay up for my house. That's it. It's like a complete package. A combo. Nice!

Almost halfway there! Im 20 and the goal is 25, but I think I could get it by 22 or 23!

Please include medical expenses in the "four walls". Most people have to pay out-of-pocket for eye exams, glasses/contact lenses, dental care, medications, etc...that are not optional, nor are they covered by insurance. In many cases, these costs are fixed and there's no way to cut back either.

I'm on baby step 3 , my goal is to save 6-12 months of living expenses then i start baby step 4 for myself & 5 for my 10 year old daughter who's still in primary school now and will finish school in about 9yrs from now.

This was really a video about the baby steps

Can't wait til I'm on BS7!

Thank you!

To be fair, your first $100k isn't all gonna be liquid and on hand. Most of it is gonna be locked up in retirement accounts and investments. You'll technically only have about a quarter of that amount readily available.

I have well over 100k but going to put it towards my first house soon😆

I love all Ramsey videos no matter who puts them out don’t get me wrong, but I wonder how many times I’ve clicked on various videos thinking, “Here’s some new information or even fun different information,” only to be told about the baby steps again for 10 minutes. I understand the fact that they work, but it’s just restated over and over again in all of these videos and in a way clickbaited at this point!

I love talking numbers!

the $100K concept came from charlie munger, buffet's right hand man, the idea is that the first $100K is the most difficult to achieve but after that, due to compound interest and dividends, the rest is alot easier

I'm favoured, $230K every 4weeks!!! I can now afford anything and also support God's work and the church.

Hi where is the video on high interest accounts and money market?

The focus and the dedication to pay off the debts matter. If you don’t start there, it won’t matter because the interest will always get you…

Please make Every Dollar available in Canada :)

Funny, your telestration ad was interrupted by another ad

I guess when seeing this video I am on babystep 3 and so, so close to my end goal for that one!

❤thank you❤

Where in the baby steps do you buy a home if you are a renter and on baby step #2?

How do you put all funds into lowedt 1 debt first...then stil have funds for all other debt bills that are still due each month. I don't follow or understand how it works?

Is the15% of investment as a couple or we both have to invest 15% into retirement?

Ive just tried to download the every dollar app . Im in Australia and its not available. Can anyone recommend a similar app

It’s just the baby steps. I thought you were gonna give me like how you got your first hundred thousand saved and how you and Winston, like cut certain things out of your life

I finished baby step 3 and had about $90k but decided to payoff my mortgage. I fell back to $65k and for some reason having an impossible time getting back to near 100k. I'm at $75k now. Also wondering if I should just let it go as a goal as its taking so long and concentrate on saving for retirement.

I wish I could get it to work. It just wants me to get the pay version.

I dont have kids or a house . Is there a step 5 and 6 alternative?

62k median income or median household income?

❤great video

There is no secret formula. It’s about being discipline and priorities. I down graded my car. I used that money to pay off credit card debt of 20K in two years.

15 % rule is monthly?

Step 1 make more money 😂

I too started investing in 2020 but obviously don't have the amount to spare, to save and invest, that you have !! Didn't help that I had to pay an unavoidable emergency expence of £6000.

Just to be clear. Baby step no 1 is it once off or monthly?

practical

100k in 401k is my next goal

I feel like the title is misleading.

What are your thoughts on paying off the mortgage prior to saving for retirement, if the interest rate of the mortgage is approx. 4%? Thanks!

Wow you’re clearly very clever.. If only every dollar was available in Ireland 😢

Im at 50K...

I’m at 50k+

She resembles her dad so much

Jesus loves you he died on the cross for your sins. Believe in him and you will be saved and go to heaven!

What would be the number in countries where the average salary is 10 000 USD per year? How many years of expenses would it be? If someone makes 10 000 USD per year, even if they didn't spend anything, it would take 10 years to save. And from the 10 000 USD people need 8 000 USD just for housing and groceries. Would saving 10 000 for someone who makes 10 000 be equal to 100k for someone who makes 100k?

completely free app? you mean free to use but with restrictions that require sub to access not *completely* free

$89k in my 401k at 23, cant wait to celebrate when i get to $100k and go out to a nice dinner

Thank you for the video, Rachel. The initial $100,000 can be challenging as you establish the foundation for your portfolio, but subsequent investments become easier as you gain familiarity with diversification and strategic fund placement. I achieved my first million by diversifying, primarily investing in blue-chip stocks, high-value ETFs, the S&P 500, and cryptocurrencies.

Here's how I saved my first 100k, I got two extra jobs that paid 50k each.

Give? Really I give in other ways

Saving $100,000 can be challenging as you establish the foundation for your portfolio, but subsequent investments become easier as you gain familiarity with diversification and strategic fund placement. I achieved my first million by diversifying, primarily investing in blue-chip stocks, high-value ETFs, the S&P 500, and cryptocurrencies.

This is a great video, I learn a lot watching your videos and it has been helpful to me. Building a steady income is quite difficult for newbies.. Thanks to Mrs. Bonnie Antelo for improving my portfolio. keep up with the good videos.

I thought this would be how to save $100k cash. This is totally different having a net worth of $100k.

What if you don't have a house or mortgages lol?

I cannot figure out Every Dollar. I guess I will just keep using paper and pencil.

Here’s the cliff notes to this video. 4 words. Follow the baby steps. Ta da! That’s how you make $100,000

investment requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myselfMay I ask which investments are good? I've been looking at a few different ones but want others' opinions as well.

I just invest in sp500 to get to 100k

I still don't know what baby step I'm on. I feel like the baby steps are for middle class families and not single people who have opportunities to do whatever they want.

The Road map is to get paid way more then $100,000 a year lol. You must be talking to people that has a good paying job.

All the same talks from Dave Ramsey…😂what a waste of my 9 minutes . I thought she going to breakdown the numbers, because she’s advising first 100,000

It’s unfortunate that you use click bait to reel people in without actually providing good intelligence. But make plenty of time to advertise your board game that people should buy, despite trying to get out of debt. Shameful.

Step 1: Be a nepo baby Step 2: Done

Why save 100k? Better to borrow it.

Annoying. Just the same thing her dad says