How to Save $100,000? (4 EASY STEPS TO YOUR FIRST 100K)

Why is saving the first 100k so difficult? This is how I’m planning to save $100,000 before turning 30. By the end of this video, you will understand why saving your first 100k is difficult but important. You will also know exactly how I figured out how much I need to save every month to reach my goal.

How to Start Investing? (ASSET CLASSES + TIPS to build your portfolio):
https://youtu.be/vWluo5WycrM

00:00 FUN stuff
01:23 100k Difficulty explained
05:28 Steps to save your first $$$

🔔 SUBSCRIBE to learn more about money, finance, and the economy! 🔔

----- ✍️ REFERENCES ✍️ -----------------------------------------------------------------------------------------------------------------

Articles by Zack on Four Pillar Freedom:
https://fourpillarfreedom.com/charlie-munger-the-first-100000-is-a-btch/
https://fourpillarfreedom.com/the-math-behind-why-net-worth-goes-crazy-after-the-first-100k/

How to save your first 100k and why its so hard by Ben Le Fort:
https://medium.com/makingofamillionaire/how-to-save-your-first-100k-and-why-its-so-hard-3e5b6f1cfe64

----- ✌️ VIDEO SUMMARY ✌️-------------------------------------------------------------------------------------------------------------

The first $100,000 is so difficult because it is based on how much we save and how fast we save. Even if we are investing our money, the returns we get when we have less than 100k is miniscule. In the video, I showed the breakdown of what the first $100,000 is made out of - nearly 90% savings and a little more than 10% from interest. So the more you can save, the faster you will get to your 100k, but the more painful it will probably be.

Once you reach 100k, your wealth snowball starts.

In the video, you can see the difference between the 100k, 200, 300, and 400k breakdowns. And you can see that the amount of money coming from returns/ interest increases as the amount of money in the account increases. This is because your money is working for you.

4 Steps:
Know your net worth
Savings and investing plan
Calculate how much you need to save per month (Excel formula)
Put savings on automatic

----- 📚 SOME BOOKS THAT I LIKE 📚----------------------------------------------------------------------------------------------

The Price of Tomorrow: Why Deflation is the Key to an Abundant Future by Jeff Booth
*BUY NOW ON AMAZON: https://amzn.to/3fWtpWY

How to Legally Scam Uncle Sam: Conquer Inflation, Dodge Market Loss, and Sidestep Taxes...Completely Legally by Dennis Hamsher
*BUY NOW ON AMAZON: https://amzn.to/3g5F1XO

Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter
*BUY NOW ON AMAZON: https://amzn.to/3apT4WM

The Intelligent Investor by Benjamin Graham
*BUY NOW ON AMAZON: https://amzn.to/3gYz00b

The Millionaire Next Door by Thomas J. Stanley
*BUY NOW ON AMAZON: https://amzn.to/2Y2BRO4

----- 🙋🏻‍♀️ABOUT ME 🙋🏻‍♀️------------------------------------------------------------------------------------------------------------------------

Hello, I am Steph. When I graduated college with a science degree in 2019, I didn’t know what to do with the money I got from my first big-girl paycheck. So I started reading books, researching online, and watching videos on personal finance and money. To this day, I am still learning! So in this channel, I want to document and share what I’ve learned with you!

----- ❓FAQ ❓------------------------------------------------------------------------------------------------------------------------------------

Q1: Where are you located?
A1: Vancouver, BC Canada

----- ⚖️DISCLAIMER ⚖️----------------------------------------------------------------------------------------------------------------------

1. This video is for informational purposes only, it should not be considered Financial or Legal Advice. Consult a financial professional before making any major financial decisions.
2. Links with (*) are affiliated links.

---------------------------------------------------------------------------------------------------------------------------------------------------------

Thank you so much for watching!
- Steph

Видео How to Save $100,000? (4 EASY STEPS TO YOUR FIRST 100K) канала Monies with Steph