Why the first $100K is hard, but to get to a million dollars is easy after that

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Getting to your first $100K is the hardest step in investing. Once you are at $100K compounding takes over and getting to a million is so much easier. How do you get your first $100,000? Crazy ways my family makes an extra $1,000 per month.
Charlie Munger: Your first $100k is the hardest.
Compound Interest Calculator:
www.nerdwallet...
Money spent on lottery, alcohol, tobacco, gambling:
www.bankrate.c...
www.cbsnews.co...
The crazy ways some of my relatives have found ways to make $1,000 extra each month are what they have done after doing their own due diligence. I am not advising in anyway to do the same thing as they are just a few examples and I have no opinions on the matters regarding any pharmaceutical research or products.
Disclaimer and safe Harbor statement:
Topics discussed may include predictions, estimates or other information that might be considered forward-looking and results are not guaranteed. This is not individual investment, legal, or tax advice. Investments can lose money. Make sure to complete your own due diligence and work with licensed investment, tax, and accountant professionals when making financial decisions. Financial Freedom 101 is not responsible for any of the financial decisions that you make. Financial Freedom 101 typically has investments including, but not limited to positions in diversified ETFs and mutual funds such as SPY, VOO, SWPPX, FXAIX and others which may contain holdings in the companies discussed. The content of this video is for entertainment purposes only.

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8 сен 2024

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Комментарии : 186

@Bergenn158 3 дня назад

It's all about building the right habiits, saving, budgeting, learning about asset allocation. It feels like you're moving in slow motion. Every investment seems small, and compounding takes forever to kick in. But once i hit that 100k mark, things just started compounding faster

@GregMerchant 3 дня назад

It's easier once you've built up your capital?

@Bergenn158 3 дня назад

Yes, your money starts working for you and honestly a lot of that came from having the right advisor. I can't emphasize enough how much having someone guide me made the difference. Credits to my FA Dianne Sarah Olson

@phyllisburtonhearsawho 3 дня назад

How did you find a good advisor, i've been trying to build wealth, but it feels like i'm stuck

@Bergenn158 3 дня назад

I was in the exact same spot. Then i met Dianne Sarah Olson, she didn't just hand me a plan, she listened. She really understood where i was financially, and she helped me create an investment strategy that worked for me.. It wasn't about risky moves or quick wins, It was about sustainable growth. She showed me how to diversify, optimize for long-term gains, and protect my investments, all while keeping my risk low.

@Lamarche1959 3 дня назад

I did my due diligence on Dianne and it looks like she really knows her stuff. Found her online page and read through her resume, educational background, qualifications and it was really impressive.

@AdamWright8fool 2 месяца назад

This year is going to be worse than the last, no doubt about it. Due to poor investment decisions that I would not have made if I hadn't been so concerned about my portfolio, I lost a significant amount of money last year. I continued to invest, but I was undecided about whether to begin making house payments. I eventually sold my jobs, and the house required more work than I had anticipated. I'm not sure how much longer I can continue in this manner.

@collins.l454 2 месяца назад

We've all made mistakes at some point. You should consider financial planning

@palebiss1646 2 месяца назад

Could you please share your financial planner with me?

@Nova-m8d Месяц назад

@@collins.l454 That's the hilarious sales pitch, dig a deeper hole with an extra financial guru bill.

@kebas239 28 дней назад

If you dont mind me asking, what kind of mistake? Ive always been taught to invest in the broad market (like VTI) and a dividend fund (like SCHD) and if you keep in there lomg term you will pretty much always come out on top.

@Dantursi1 Месяц назад

I wasn't financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly basis via my investment and got 5 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. Great video! Thanks for sharing! Very inspiring! I love this.

@CindyValenti Месяц назад

I hope to own a home one day. not quite long I started investing. I'm very curious already and need help on how to enhance and increase my returns. Any good investment tips will be appreciated.

@Lotrhome154 5 месяцев назад

32 just hit 40k which is not a lot to some but man I wasted my 20’s

@financial_freedom101 5 месяцев назад

If you make around $40K you could be off to a good start and if you make more just keep putting a portion of the raises towards retirement contributions so it does not feel like you lost anything. Fidelity's guideline: Aim to save at least 1x your salary by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67.

@peterwood2633 3 месяца назад

Here's to wasting my 20's too..hard to be disciplined when your first paychecks come in and you have hobbies and interests. Still, you have to live in the here and now also. It's a balance

@Lolatyou332 3 месяца назад

Most people don't invest much.. That's why peak median total retirement account balances (of those who do have retirement accounts) is like 200k just before retirement begins. If you want a bunch of videos like these you'll realize the audience typically are mostly successful people already who live for this kind of stuff, comparing yourself to your local peers is a much more accurate representation of where you are comparison wise. Of the people who do invest in 401k plans, many of them pick bad funds such as target retirement date funds with high expense ratios so they'll grow at a slower rate at the same time.

@eLuZiveMaRiio 2 месяца назад

Nothing was wasted in your 20s. You did what you did with the best interest at the time and I’m sure you had a lot of great times too. Money can always be made but those memories are worth far more.

@piusokwu3560 Месяц назад

@@eLuZiveMaRiiono need for that manifestation BS to make one feel betrer. It's ok to be be accountable and accept mistakes.

@UbiquitousBooks Месяц назад

Nicely presented video. The thing I find psychologically hard about the road from 100k to 1m is that once your portfolio gets past about 250k it starts to feel like the money you are saving doesn't even move the needle any more--its just dwarfed by the fluctuations in the portfolio's value. And yet you have to keep slowly but steadily pumping money into the portfolio and reminding yourself that every extra £1 saved adds to that snowballing compounding.

@gijns 17 дней назад

Good point... for me I feel it does move the needle. Maybe bc I put in massive amounts each month still

@financial_freedom101 10 дней назад

I tell myself when good quality assets are going down in price I remind myself that everything is on sale and to get it while assets are cheap and not worry about a down year. When the prices are going up I look at how much extra I made in that month or year. Some years a few months of gains are more than what my entire family made in a year growing up. When I started I could only invest $725 per month. Now across all accounts we are putting away around $4,600 per month in investments between all sources so it still makes a small but noticeable change in the total. I could only do this by increasing my skills and increasing my earnings each year.

@rudyjean5550 5 месяцев назад

I'm 34, hopefully I get to a million this year or by 2025. It won't change my life but I'll at least be able to have a peace of mind that my family will always have a place to stay.

@rickallen9099 3 месяца назад

Not gonna happen, bro.

@rudyjean5550 2 месяца назад

@rickallen9099 I’m more than half way there, but I’ll like your comment when I get there

@iati6294 2 месяца назад

@@rudyjean555034 and you’re half way already!? It took me 14 years to hit my first 100k.

@Jakkaribik1 Месяц назад

@@rudyjean5550 More than 50K Is already good Keep it going.

@asstaco 24 дня назад

How is it going? @@rudyjean5550

@blaze376192 3 месяца назад

Practically speaking, it feels like getting to 1m is harder than 100k. 100k all you have to do is know how to save money. But after that point, you either have to find a mentor or burn money/fail till you figure out the next step

@financial_freedom101 3 месяца назад

If someone saves $7,000 a year it would take 14.3 years without interest to save $100,000. If someone invests $7,000 a year and has a 10.7% return they hit $100,000 in just over 9 years. The second $100,000 for the investor is gained in only 5 years while the saver takes another 14.3 years. To get to a million by saving $7,000/year would take 143 years and the consistent investor in 28 years, and if the investor just stopped contributing at $100,000 they would still be a millionaire in a total of 23 years without any additional work. I am using 10.7% because that has been the historic return of the S&P500 over the last 30 years. It felt like a long time to my first 100k then very fast to 500k and even faster to my first million through investing. The hard work is done upfront. I am try to save you some time and avoid making big mistakes (we all make mistakes just learn from mine and others) so that you get there faster and easier to help you and your family. All investments carry risk and can lose value. Past performance does not guarantee future performance.

@tvb4227 5 месяцев назад

26 years old and not interested of becoming a millionaire. (I just think its over-rated). I have $120k in savings generating almost $500 a month. $20k in shares generating $90 a month. Full time employee only work in warehouse making $4700 a month, or $5000 in a good day. (We talking Australian dollar) Im focusing in shares right now dropping $2600 per month in a good day. Once my shares start to generate $800 a month. I will drop from working full time into part-time and start enjoying life and focus in other things. At the same time. I will add more deposit and throw those savings in my first rental property. Retirement with a million dollar is boring AF. Semi-Retirement is the king :D. All this should be done at age 28 or maybe 30.

@financial_freedom101 5 месяцев назад

Keep it up and focus on buying good assets and you will be very well off. I agree I enjoy working doing what I want and knowing that if there is a layoff or I want to chance what I am doing at least I do not need to worry about money. I will work until the day I die doing something I enjoy and helping others. Also $1,000,000 (which I achieved by 39) is not much money so I am working towards $10,000,000 to $15,000,000 at retirement to allow for generational wealth for my children and hopefully their children if they listen to me.

@houstonveganchick5659 4 месяца назад

Sorry to hear that sounds dark! It’s about freedom to me

@Lolatyou332 3 месяца назад

@@financial_freedom101 Yeah my only problem with leaving that much wealth behind is that kids who haven't developed appropriate habits just don't know the value of money. I know if I just had everything given to me I wouldn't appreciate the things I have. I hate when people give me gifts as I'd rather just earn and buy the things I want.

@Panda_J1 2 месяца назад

Agree with you. I just want $3000 a month of dividends and I’m retiring. Moving to a third world country and living my life from there

@Jakkaribik1 Месяц назад

@@Panda_J1 For Me 1000$ Dividends would be Great Per Month even next to the Work Income .. It can Pay for all the Extra Expenses so yeah for me around 2000$ Per Month is Very Good

@PKABestMoments 5 месяцев назад

Listened to this on my way to work today, very popular concept and one of my favorite of Charlie mungers teachings, great video again!

@CountryKyle007 5 месяцев назад

“It’s easy.” Just wait 35 years…. Literally could not care less if I had a million dollars in the bank 35 years from now. All the good years of your life are already over.

@financial_freedom101 5 месяцев назад

Agreed, this was just an example of how small amounts can grow over time. It works even faster when someone has a higher contribution rate. I reached 1 million dollar net worth in 14 years. All investments carry risk and can lose value. Prior performance does not guarantee future performance.

@iati6294 2 месяца назад

Just wait till you’re 60 and broke. You’re gonna wish you had invested some money for retirement.

@pradeepshirur5435 Месяц назад

Anyways you are going to reach 60 with money or without money 😂

@edfhobbies556 Месяц назад

True 40 years ago ... Not anymore, don't drink or smoke, keep BMI straight and 90 is way seeable

@Lestergreen77 23 дня назад

Being 60 plus and broke is a night mare dude. Take this guys boring advice

@Robby767 5 месяцев назад

the initial journey to accumulate wealth can be challenging, but compounding plays a significant role in accelerating wealth growth over time.

@Jonesmatsunaga 5 месяцев назад

I agree. It's essential to lay a solid foundation early on, focusing on both saving and investing. As for navigating this journey, seeking guidance from a financial advisor could provide valuable insights and direction

@Thomas-ff7wn 5 месяцев назад

indeed, most people downplay the roles of financial planners until burnt by there mistakes. Productivity is optimized and keeping up to date strategies and analysis makes it more lucrative.

@Colbe-lx7fb 5 месяцев назад

Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes It's always good to have a financial plan

@MONROEJACQ 5 месяцев назад

Please could you guide me on how to get in touch with your consultant? My funds are being eroded by inflation and I seek a more lucrative investment strategy to effectively utilize before I consider retirement

@financial_freedom101 5 месяцев назад

The S&P500 beats 90% of actively traded accounts and hedge funds. Even a 2% management fee compounded over 40 years can eat away at around 50% of your entire growth of a portfolio. All investments carry risk and can lose value. Prior performance does not guarantee future performance.

@lilfairycupcake 3 месяца назад

your first 100 represents, now you know what you are doing. the entire game has 0 to do with money, but what you know, how to apply what you know. im totally self taught, started 4yrs ago, screwed up a lot, and lost a lot, but learned. its funny how your average person is sooooo utterly frightened by the market, and loosing. fear is what keeps the upper echelon in control. one of the things ive taken from elon musk book is, do not be afraid of failure, failure is just one aspect of the learning, success, curve.

@financial_freedom101 5 месяцев назад

Just realized year 45 should be "2,000K" instead of the "$2,00 K" shown as the zero was missing.

@aqueleprogramador Месяц назад

thank you! I’m from Brazil and I’m learning a lot with your videos

@financial_freedom101 Месяц назад

Thank you for watching. Passei algum tempo em São Paulo, Bonito, e Rio. Também falo um pouco de português. I also accidently swam with alligators in Bonito when snorkeling because I understood the option to get in the boat, but not the word for alligator.

@aqueleprogramador Месяц назад

@@financial_freedom101 nice! I live in Rio de Janeiro capital. btw, what's your opinion about REITS?

@dylanroberts93 3 месяца назад

I’m 31 as of rn I have $17,655 in my Roth I rolled over 11K from my 401k about this time last year so I’m doing pretty good. Hopefully I’ll have 1 million by 59.5

@joseph10704 3 месяца назад

I love my Roth Account.i put 150 per week into the account and just watch the money grow for me.i dont worry if it goes down because thats just the market I look at if the market is down thats a gift from the market gods it means I get more shares and a discount.

@Lycan3303 11 дней назад

LuL my first $100k was pretty ez ...so my first mil going to be a breeze 😂

@UptownMike 5 месяцев назад

You're right getting to 100K is hard. The problem is that we buy expensive homes and cars. As for the home, you can sink a lot of money into it. Is it worth it?

@financial_freedom101 5 месяцев назад

I have only bought cars that I can pay for in cash. When I was younger that meant $600 for used cars that I had to fix now it is $40,000. In terms of houses only buy what you can pay off in less than 15 years and if I was going to move in 5 or less years I just rented an apartment. A house is only worth it if you will live there for a longer period of time at least 5 years due to the closing costs, transfer tax, real estate agent fees and it is in the area you want to live. I like farming and fruit trees so I wanted more land, but my wife wanted something different so I only have around 1/2 an acre and I rent 5 acres somewhere else.

@Lolatyou332 3 месяца назад

I just bought a fixer-upper house. Got a chance to learn everything regarding the house's interior envelope while building equity at the same time. Got an arsenal of tools as well to use for pretty much any task that could pop up.

@Clorisluta 5 месяцев назад

I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

@LancEthan 5 месяцев назад

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.

@catherinerea3569 5 месяцев назад

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.

@ShukriVikas 5 месяцев назад

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

@RomeoSfait 5 месяцев назад

Thank you 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.

@WolfyYOLO Месяц назад

I am 25 years old, I earn approximately 20k a year, I have already spoken with my parents to continue living with them until I am 35, investing 90% of what I earn. 100k is inevitable. Then I'll start thinking about buying a house, a car or whatever.

@financial_freedom101 Месяц назад

You are off to a good start. I would suggest working on learning skills that can increase your income as the next step.

@Jakkaribik1 Месяц назад

I guess you do Full Time for the 20K A Year around 40 Hours? That is OK but mind you rather than work full time in your Youth you should do it Part time and self develop yourself at home

@carlosgarcia-jz3dq 12 дней назад

it's not about making more money, nearly as much as keeping the money you already make.

@financial_freedom101 12 дней назад

Yes, spending less then someone makes is the only way to really start to build any wealth. Budgeting and self control / habits are important.

@JustinHyneswashplant26 3 месяца назад

Really like the overall channel. Great work

@BeatsByLoFi 5 месяцев назад

We can’t simply subtract inflation from our return. This understates the detrimental impacts inflation has on compounding. We must use the Fisher Equation to gain a more accurate return

@vibrantgoku 5 месяцев назад

I'm in Canada and at 23k right now 😂😂😂I've been slacking the last 3 years I should have been at 90k by now

@iati6294 2 месяца назад

It’s never too late, just invest what you can and don’t compare yourself to your peers

@annihilationHaven 5 месяцев назад

It's more a question of motivation to me. I just haven't found anything that motivates me except for an institution that doesn't exist yet. Becoming financially dependent on others isn't a goal of mine, but I speak for myself, I realized 10 years ago that people have much more value, but it's people with a healthy skepticism more specifically because I've learned those are the only people you can trust.

@financial_freedom101 5 месяцев назад

I grew up poor and did not have food, heat, and at times running hot water. It sucked. I promised to never make my family when I became an adult to have to suffer through those things. That is what keeps me motivated. I also like helping others, teaching, mentoring and exchanging ideas. It is fun to dream, but even more fun to work towards making a dream a reality with my friends and family. I like to take many small risks that will not ruin me and try out different ideas. Some became profitable and others we stopped. I learn from each experience and apply the learnings to the next idea. I have a bunch of entrepreneur friends that we talk about all kinds of ideas and think of who we know that people can work with for the best chance of success. There are a lot of funny stories when I was pulling 16 hour days just laughing in a kitchen baking cookies.

@carlosgarcia-jz3dq 12 дней назад

the first +10 dollars in net worth is the hardest

@financial_freedom101 12 дней назад

Very true, just getting out of high interest debt is a great accomplishment.

@carlosgarcia-jz3dq 12 дней назад

honestly getting to zero will be nearly impossible for most Americans as the large majority are deeply in debt.

@Lolatyou332 3 месяца назад

100k felt pretty easy as I was never a spender and out of college I really didn't like to spend money so just invested it all. Saved close to 200k in about 5 years, should take another 9 years or so before I can hit 1M total investment assets though.

@gijns 17 дней назад

What rate of return are you assuming? How much are you investing each month?

@mohibquadri4053 5 месяцев назад

Does niching deep down in our field as engineer to become expert in certain area opens the door to earn the most money ? What are some other best ways to create massive success in corporate world and any top books suggestions about it ??

@financial_freedom101 5 месяцев назад

At first hard skills are important. Then the focus shifts to soft skills such as people managing, negotiation, and sales. I have Batchelor's degrees in chemistry/chemical engineering, a masters in chemical engineering, and a professional engineering license. I also held licenses in life insurance and second mortgages. I have apprenticed in general construction when I was in my teens. Everywhere I work I make sure that I am learning or improving on a skill. In order to get ahead you need to get along and be able to work well with others. People that only have hard skills can only produce 8 hours of work, but when people have soft skills they can lead teams of people and employ systems that can produce unlimited hours of work per day. The way to make a lot of money is to use leverage of systems, processes, and other people's time. I like investing because it is scalable and if you manufacture something as an engineer and scale it up it is similar in that more is produced per unit time. I also like RU-vid as I can use their systems and make money while I sleep. Several books that I enjoyed were Grit by Angela Duckworth, How to win friends and influence people by Dale Carnegie, atomic habits, Predictable irrationality, The one minute millionaire, Rich dad poor dad, ... I like to listen to books while I drive to work to save time. (I have an older video on how to get all these on audio book through various libraries for free)

@mohibquadri4053 5 месяцев назад

@@financial_freedom101 Insightful tips 😊 i have just completed internship in mep hvac Aec construction industry working for air conditioning projects as hvac site and design engineer so its necessary for me to look for ways to become irresistible and most valuable so that i can create mastery of subject.. i like reading and understanding money principles so i watch documentary also.. would love to hear from you about mentors and experts who give advice on how money works ? How to leverage and create systems etc great to be here !

@editsbymarcin 3 месяца назад

Can somebody make the same video, but include inflation and predicted purchasing power in that 45 years?

@financial_freedom101 2 месяца назад

$1 today with 2% inflation over 45 years will require $1 x (1.02)^45 = $2.44 in future money to buy the same thing as today. $1 today with 4% inflation over 45 years will require $1 x (1.04)^45 = $5.84 in future money to buy the same thing as today. The FED has a target of 2% inflation, but is around 3.5% currently.

@SaacAmes7898 3 месяца назад

Can you do a video on how you were able to get to 1mil within 15 years?

@financial_freedom101 2 месяца назад

I made this video for you on how I built a million dollar net worth from $0 to $1,000,000+ in 12 years. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-UkfdiTfkp9s.html If you want to see more videos let me know as a separate comment as I only see new comments pop up. Thank you for the request as almost 3,000 watched it in the 16 hours.

@SaacAmes7898 2 месяца назад

@financial_freedom101 Thank you, your videos are very helpful!

@erikwilson32 17 дней назад

So I’ve been putting money in my brokerage account (22k) so I need to move that to a Roth IRA?

@financial_freedom101 17 дней назад

A Roth IRA is tax advantaged so you do not pay taxes every time you sell. If you leave your investments in a normal stock account and don't sell there will still be taxes when a dividend is paid and when stock is sold there will be taxes on the capital gains. I prefer Roth IRA and Roth/Traditional 401K to allow for growth without taxes being removed while growing. The mix of ROTH and Traditional will depend on my tax bracket and what I think taxes will be in the future.

@jimd1617 Месяц назад

thank you 🤝

@financial_freedom101 Месяц назад

Welcome 👍

@Zegeebwah 5 месяцев назад

So I should've made 100k when I was 20 to enjoy the money when I'm 60

@financial_freedom101 5 месяцев назад

I put away as much as I could and paid off all debt as soon as possible starting at age 25 and by the age of 39 I already had over $1,000,000 net worth just using Roth IRAs, 401K, and buying a house. 14 years was not that bad, people did make fun of me for driving old cars, dumpster diving, and taking odd jobs, but they don't pay my bills. Those that matter, don't mind and those that mind, don't matter.

@timothyyoung980 5 месяцев назад

😂

@Backwater-wanderer Месяц назад

@@financial_freedom101heck yeah brother! I love that “they don’t pay my bills” I’m on the same path albeit much farther behind

@fabricioalmeida348 Месяц назад

What if you already have 100 k to start investing,where should I invest in??thanks for the video. And how long will take to 1 million starting with 100k??

@financial_freedom101 Месяц назад

First, only invest in things that you understand (do some research). This depends on risk tolerance and how long before you need to access the money. If I am 10+ years away from needing the money I would invest mostly in the S&P500 and it has on average returned 10-11% per year over last 30 years. With no additional investment a 100k at 10.5% would be 1 million in just over 23 years. www.nerdwallet.com/calculator/compound-interest-calculator All investments carry risk and can lose value. Past performance does not guarantee future performance.

@fabricioalmeida348 Месяц назад

@@financial_freedom101 thanks for taking the time to answer my question 🙋‍♂️, I appreciate. That’s great, I wish I knew that before because right now my money is sitting in the savings accounts 😓😓😓is being like 5 years

@georgewayne2203 Месяц назад

at 97k USD / 84k CHF at 29. gonna get the 100k this year

@HardDrumStep 24 дня назад

So, let me get that straight, because I'm new here - For example I invest 1k$ per month for 5 years, that's 60k$ total, during this time, I don't use or sell any of the bought assets and leave them intact, until I decide I've made a profit and sell everything? Or do I get anything back which I can use without disrupting the growth till the end of 5th year?

@financial_freedom101 23 дня назад

Leave it to grow over long periods of time in the example without withdraws. Withdraws reduce the growth. When I retire I would withdraw less than the growth each year to leave the principle intact, stress tests usually recommend less than a 4% withdraw rate for a 30 year draw down period.

@HardDrumStep 23 дня назад

@@financial_freedom101 Thank you, can you suggest a steady and well praised s&p500 to invest in? also, do s&p500 stocks give out dividends or it's from individual company stocks only?

@Anime-Shorts2022 5 месяцев назад

Can you make a video on how to set up a RU-vid channel and how much you can make etc . If you don’t mind

@financial_freedom101 5 месяцев назад

Sure, I will add that to the list of videos. Just to give you a quick answer I have several small channels with 3,000 to 4,000 subscribers each: automotive repairs, home/family/gardening/misc., this financial channel, and a few others. The auto repairs make around $550 per month with 110k views per month. The home/family/gardening/misc. channel makes between $250 to $800 per month (very seasonal) with 100k views per month. This channel makes $0 currently as I just seriously started uploading in Dec and will start making money once I have 4,000 hours of watch time probably in Apr to May. I also combine earn another $60-$120 per month as an Amazon affiliate on the other other two channels through product links not used on this channel. It takes most people on average 160 long format videos and 15 months to start making money on RU-vid. I should be able to bring that down to 4 months just because I know a good bit from the other channels (still working on lighting and should spend more time on thumbnails though).

@financial_freedom101 3 месяца назад

How to start a RU-vid Channel: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-r0mgMfxlYB0.html How much does a small RU-vid Channel with 1000 subscribers make: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-0GvMrFeCvNo.html

@guru77771 Месяц назад

Thanks!

@financial_freedom101 Месяц назад

Thank you for watching and the supper thanks I appreciate it.

@nubicep65 2 месяца назад

How would it work out if you opened the account with about 60k and reinvested just the dividends? How long would it take to get to a million?

@financial_freedom101 2 месяца назад

Assuming a 10.7% ROR 60k would be 100k in 5 years and 1,000,000 in 28 years. If accounting for inflation and a 7% ROR 60k would be 1,000,000 in 42 years. Here is a compound interest calculator to play with different ideas: www.nerdwallet.com/calculator/compound-interest-calculator All investments carry risk and can lose value. Prior performance does not guarantee future performance.

@EldenSoulsVids 26 дней назад

i have 100k but now i dont make nearly as much money as i used to from working anyway

@jalopy2472 5 месяцев назад

But what’s the point when we are 70 years old by the time we reach the 1 million mark? I’d say you probably only have 5 good years left if you’re lucky.

@financial_freedom101 5 месяцев назад

I agree waiting until you are 70 is not the best. This goes even faster if you contribute more especially early on. I was able to achieve a million dollar net worth in my 30s by starting in my 20s and consistently investing in IRAs, 401k, and buying a house. The 401k company match also helps. All investments carry risk and can lose value.

@Lolatyou332 3 месяца назад

The irony of investing is that the contributions during the first 30% time period of the time is what matters the most.. I invest to target retirement around 50 rather than later. Based on my grandparents on both sides of my family, I potentially am going to live to my mid to late 90s. The best investment strategy really is to just invest everything you can while young, live below your means and then SLOWLY increase your quality of life. If you buy a sports car out of college there isn't much to look forward to in life to be happy about. That's why people start going into debt to both maintain their lifestyle AND increase it. Then you can just retire in your 40s-50s, and if you were frugal enough your living expenses really wouldn't be much either anyway. Really utilities and Insurance would be the largest bills as you shouldn't retire until you have no debt, including your mortgage.

@kevinhoyle8367 3 месяца назад

What if you live to be 100??

@Jakkaribik1 Месяц назад

@@Lolatyou332 True Focus on High Investing Now and Slow Down the Last Years

@cjames9320 2 месяца назад

In what world does it only take 7-10 years to save 100k

@financial_freedom101 2 месяца назад

$16.65 per day invested at 10.7% rate of return over 10 years is over $100,000. If the same was only saved and had 0% interest then it would only be $60,750 at 10 years. Buying assets that make more money is what makes it possible to grow the value. All investments carry risk and can lose value. Prior performance does not guarantee future performance.

@Jakkaribik1 Месяц назад

Not All People Earn like the Next Crack Head in America most earn Max €30K In EU with free healthcare and study costs

@Jakkaribik1 Месяц назад

Just Lock Away your Money and do not Touch It on Some Day you will be Glad..

@financial_freedom101 Месяц назад

I can withdraw principal from a ROTH IRA after 5 years free of penalties and taxes so it is not locked away forever if I need it. I can still take a loan against a 401k at any age and I can make a hardship withdraw also.

@houstonveganchick5659 4 месяца назад

Great video

@financial_freedom101 4 месяца назад

I am glad the you enjoyed it!

@HonderdtachtigCC Месяц назад

Does this work international? like in the netherlands? i just turned 20 i still live with my mom i can save up 700 monthly ( Soon 1300) i work 40 Hr's already and go to school but im also gonna work 10 hrs in weekend's to save up more i was planning to buy a car but always when i set a goal and reach it (10K cash) i always look at better options and see what i can do with all that money even when i played games i was like that. I wanna know if this S&p 500 investment works in the Netherlands as well.

@financial_freedom101 Месяц назад

Yes, stock markets around the world are open to outside / international investments. I hold various but small portions of stocks from European, Asian, and South American companies. People outside the US can invest in S&P500. Always research any investment before buying and look at the businesses held by the investment. Stay away from get rich quick things as they more often than not cause people to lose more of their money and question people trying to sell you something as in what is their motivation. All investments carry risk and can lose value. Prior performance does not guarantee future performance.

@Nova-m8d Месяц назад

1:45 In 35 years $68,000 will be worth $24,166.07 because of inflation.

@financial_freedom101 Месяц назад

The analysis already accounted for inflation in that real rates of returns post inflation have been around 7% and total returns have averaged 10-11% over the past 30 years. All investments carry risk and can lose value. Past performance does not guarantee future performance.

@alfons6350 29 дней назад

The Inflation is higher now. It's a lot harder to get positive return.

@financial_freedom101 29 дней назад

When inflation was 9% last year I had a 24% return in stocks which was a 15% real rate of return. Companies just charge more money as costs go up to keep the profit margin. Inflation is now in the 3% - 4% range an falling. I would rather have inflation rather than deflation when holding any fix rate debt such as a mortgage. High inflation with fixed rate debt is great as the debt becomes even easier to pay back.

@Financial_insights_101 5 месяцев назад

Good video

@financial_freedom101 5 месяцев назад

Glad you enjoyed it.

@colsonskur6714 2 дня назад

Big lie: 100k to 1 million is easy. No it isn't. It is about 6-7 times harder than 0-100k. The compounding doesn't help that much

@wilfriedvomacka1783 5 месяцев назад

You get paid $800 for selling plasma in the US??? Damn, that is 70% of my take home pay here where I live. Thinking about it, I guess you have one new imigrant 😄

@financial_freedom101 5 месяцев назад

As long as we are productive all are welcome. My great grandmother came over from Czechoslovakia it only took 80+ years for her to become a citizen she laughed when she got it in her 90s as she could not even leave the house. My aunt sold plasma when she had 3 kids after her husband died to pay bills. Just realize that the cost of rent is around $2,000 per month for an apartment in the US.

@wilfriedvomacka1783 5 месяцев назад

@@financial_freedom101 Nice! I have heard about rents in the US. Here in Czech republic it is ~$350 or more for apartment in a small town and ~$900 or more for apartment in Prague. I meant my immigration more as a joke.

@johnwu7985 Месяц назад

The faster way would be investing 75% of your income the first 10 years of your working life. Live at home or live cheaply.

@financial_freedom101 Месяц назад

Yes, if expenses could be kept low while increasing income it could help get to the $100K+ faster.

@arunkumarpg8555 3 месяца назад

Super video

@financial_freedom101 3 месяца назад

thank you!

@joebarra5273 2 месяца назад

Why did one million people make a video on the same topic

@financial_freedom101 2 месяца назад

Because it is a commonly searched topic due to Charlie Munger's quote.

@Thrive910 28 дней назад

I’d rather invest in real estate and not wait 40 years to live.

@financial_freedom101 26 дней назад

I think it is first important to find a career that you enjoy so that working is fun and live each day. Investing in assets (real estate, stocks, bonds, etc.) just provides the option to not work as much later in life. I plan to keep working my entire life even though I hit a million dollar net worth in my 30's. I enjoy helping people, teaching, mentoring, engineering, chemistry, math, finances, etc.

@sermanojedagil2729 5 месяцев назад

Is not easy. 30 years

@financial_freedom101 5 месяцев назад

Hitting a million can go much quicker depending on contribution rate (within our control) and returns (not in our control). The time will pass whether we do something for our future selves or not. Time goes quicker as we get older. I have invested for now over 14 years and have just reached the 1 million dollar net worth figure. I am so happy that I did the hard things when I was younger. I have seen a lot of family who saved nothing and cannot pay their bills on social security and pensions. They are then forced to make hard decisions in there late 60s and 70s to be forced to go back to work or sell their homes and move away from the people they know. I want to be able to play with grandchildren and help out my family when I am retired I do not want to ask my children to support me.

@Darkhan9 2 месяца назад

All these videos recommending something like S&P500. Bruh if it takes 30+ years to get it, I don't need it. What would I do with one million when i'm 70 and close to death? 10% is shit.

@financial_freedom101 2 месяца назад

This is providing one easy option, but a long term option which can be achieved by most people. I used the SP500, real estate, taxes, working, and businesses to build over a million dollars net worth in about 12 years while I was in my 30's. It is up to you how hard you work, how much you make, and how fast you can get to your goal. I work over 100 hours per week for months at a stretch to reach my goals while raising a family and being the sole provider. I make my own car and home repairs to save more money. Several family members are still active in their 80's and 90's and the money that I will have will mostly be for my children and grandchildren as I should have around $20 million before I reach 70. My 86 year old uncle and my 70 year old aunt helped me paint my house. My 85 year old grandfather still ran a 13 second 100 yard dash. As long as people stay in shape and take care of their health most 65 year olds will live to at least their mid 80's. All investments carry risk and can lose value. Prior performance does not guarantee future performance.

@KayttajaId-nw6kr Месяц назад

100 k is nothing and dont make anything easy.

@financial_freedom101 Месяц назад

If the $100,000 is earning 10+% that is over $10,000 a year added to the pile. Which if someone was only saving $10,000 per year to get to $100,000 it has effectively replaced the annual contribution. It is similar to a snowball going down a hill and picking up more as it moves by itself after the initial ball is pushed.

@littlebrit 5 месяцев назад

I like to watch your tips, but I must admit that I took your channel a little bit lightheartedly. But once you showed packs of money I obviously see that you will put your money where your mouth is!

@financial_freedom101 5 месяцев назад

I try to show people of different ways to think about money and see this as a way to teach my children and wife how to approach investing even if I am gone. I had to stop my wife from buying lottery tickets and convinced her to stop smoking when we were in our early 20s. I showed her how smoking a pack of cigarettes a day if just investing the money from age 20 to 65 would be 2.4 million dollars at just $7 per day (10.7%/year) and not to mention the extra years of good life from not smoking. I still have to remind her not to play the lottery, but she will pick up 1 ticket when it is close to a billion dollars. I would rather build, invest, invent, etc. and earn my money because I don't want people to think something was just luck. I want my kids to see where hard work can get you. My current projection is to retire with around 10 to 15 million dollars in my early 60s, but I like working and will continue to do something until I can't move. I hope to set up my kids and hopefully grandkids etc. to not need to worry about money as long as they listen.

@grant9047 2 месяца назад

you'd be a lot better off starting a business, you'd make money 1000x faster with a business than you would waiting 35 years until you're an old man barely able to walk and enjoy your life

@ozlemelih Месяц назад

7% keep dreaming

@financial_freedom101 Месяц назад

I have some years where I make 26% returns. So 7% is not unrealistic. A savings account or CDs currently earn 5-5.5%.

@shermanmiller3203 5 месяцев назад

Right now I’ve got $37k in a HYSA, how can I accelerate it to get to $100k in 27 months??? Real advice please, no BS

@financial_freedom101 5 месяцев назад

You will need to contribute at least $1,800 per month to the account while earning 10.7% (long term average SP500 annualized rate of return based on last 30 years). You will need to contribute around $2,300 per month to the account while earning 5% which is more typical of a high yield savings account. I would drastically cut back on anything that does not make you happy. Cut out all subscriptions that you do not use. Cut cable, cook at home, no alcohol, no tobacco, no lottery tickets/gambling, don't buy anything that is not a need, and increase your income if this amount is higher than what is realistic to save. I know of people that pick up side jobs and others that sell plasma for $800/month as mentioned. All investments carry risk and can lose value. Prior returns do not guarantee future performance.

@ozlemelih Месяц назад

So easy everyone can do it

@financial_freedom101 Месяц назад

I grew up below poverty and my parents are divorced and I have several technical disabilities which I do not allow to stop me. Only people that commit to changing their behaviors, developing skills, work smart/hard, and having patience will achieve wealth.

@SHASHA-de2wp 2 месяца назад

😆7% !!! Stop with this legend. Integrate: taxes, loss…inflation

@financial_freedom101 2 месяца назад

If the money is contributed to a ROTH account or if the stocks are not sold then there are no taxes on the unrealized gain. Inflation has been around 2-4% for the last several decades. SP500 has returned an average of around 10.7% over the last 30 years. 10.7% - 3.7% =7%. This year I made over 15% so far. Last year I made around 24%. All investments carry risk and can lose value. Prior performance does not guarantee future performance.

@hectortrujillo4319 3 месяца назад

you accumulate more money faster . but you dont get to 1 million from 100 k faster thank 100 k from 0 . so stop

@financial_freedom101 3 месяца назад

Correct, but the title does not say it takes less time, it is just easier in that the first $100k is mostly from working. Even if someone stops adding money after $100k it becomes $1 million dollars over 23 years with no additional effort at a 10.5% rate of return. To me that is very easy compared to working for money, it just takes patience at that point. All investments carry risk and can lose value. Past performance does not guarantee future performance.

@hectortrujillo4319 3 месяца назад

@@financial_freedom101 yes thats true . i take it back . im an investor myself

@hectortrujillo4319 3 месяца назад

not true . this is one of the biggest lie ever on youtube

@financial_freedom101 3 месяца назад

The title does not say it takes less time, it is just easier in that the first $100k is mostly from working ($ per hour). Even if someone stops adding money after $100k it becomes $1 million dollars over 23 years with no additional effort at a 10.5% rate of return, because the investment makes the money. To me that is very easy compared to working for money, it just takes patience at that point. All investments carry risk and can lose value. Past performance does not guarantee future performance.

@buddweiser4457 28 дней назад

Put that prop money away 😂

@financial_freedom101 28 дней назад

You are correct, no one in their right mind would keep that much money sitting in their house as it would just be loosing value every day. The real money is invested and busy making more money. It does help to illustrate various points on the channel.