111. Why Saving First $100,000 is Hard [BUT Next $100K is Easy]

Habesha Finance Podcast

Anyone trying to save $100,000 should know it’s not easy, but it’s very possible. In this video I’ll share with you how to make this happen fast. Charlie Munger, one of the most successful investors of all time said that accumulating the first $100,000 from a standing start, with no seed money, is the most difficult part of building wealth. It took me about 10 years of investing without any kind of real strategy to get to my first $100k in my 401k and I can tell you the time it takes you to get the next $100k after that is much shorter, but why is that and what can you do to make it to your first $100k faster than 10 years?

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