Why Net Worth EXPLODES After $100K (And How to Get There ASAP)
ฝัง
- เผยแพร่เมื่อ 28 พ.ค. 2024
- Here's the math behind why your Net Worth skyrockets after hitting $100K, and how you can get to $100K in investments as quickly as possible.
Resources from video:
realestatefinancialplanner.co...
fourpillarfreedom.com/four-vi...
👾 Join our free Discord Community: / discord
FREE STOCKS:
🏆 Webull USA: a.webull.com/i/HumphreyYang
🏆 Webull UK: www.webull-uk.com/i/humphreyUK
📈 MooMoo: Click this link to get up to 15 free stocks when you make a qualified deposit Terms & Conditions Apply: j.moomoo.com/00iNNL
💾 Coinbase: Get up to $200 for Getting Started ➭ coinbase-consumer.sjv.io/QOA326
🎓 Public: www.pqr3ntrk.com/6QFBWN/J8P3N/ to get $10 worth of free Stocks
💸 SoFi Checking & Savings: sofi.com/humphrey Get up to 4.60% APY, pay no account fees and earn $250 when you sign up and set up direct deposit. Terms apply.
Coinbase New User Incentive is a limited time offer. Offer available to new users only. Terms apply. See for details: help.coinbase.com/en/coinbase
RESOURCES:
💵 Free Templates: beacons.ai/humphreytalks/free...
🐪 Hump Days Newsletter ➭ humpdays.substack.com
▶️ See What I Invest In ➭ / humphreytalks
💳 My Favorite Credit Cards ➭ cardonomics.com/i/humphrey
👾 Discord Community: / discord
MY SOCIALS:
Secret Channel -- / @hug
Instagram -- / humphreytalks
Twitter -- / humphreytalks
TikTok -- / humphreytalks
Rickie (Editor) ➭ / coldgamerick
WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!
⏱️ Timestamps:
0:00 - Start Here
0:38 - Core Principle 1
1:42 - Core Principle 2
3:20 - Illustration of Compounding
5:02 - The Value of a Dollar (Pre $100K)
6:00 - What the First $100K Made Up Of
7:02 - Strategy 1 to Get There Fast
7:55 - Strategy 2 to Get There Faster
9:03 - Strategy 3 to Get There Fastest
Hopefully you enjoyed. Check out my free Discord: discord.gg/humphrey
I always enjoy your videos. Thank you for inspiring me.
please do more against those scambot mafias, trying to lure your viewers into their traps. Comment section is full of them.
@@Nitroat-xo4tj Yes. I always call them out when I see them.
@@DividendRick great, thank you. i always try to call them out, so no one falls for them. But the sheer ammount of scambots show, its a good business with lots of victims.
*This video deserves all attention. How to grow finance, do this.*
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2023 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
Yes, you are right. it's been a brisk tailwind for investors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financial advisor.
A lot of folks downplay the role of advisors 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.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
Her name is 'MICHELE KATHERINE SINGH' She maintains an online presence. just make a simple search for her name online.
I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "MICHELE KATHERINE SINGH" I've worked with her for 9 years and highly recommend her. Check if she meets your criteria.
Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
If you are planning for retirement Here are some key pointers. Firstly, kick-start your savings early to benefit from compounding. The longer your money has to grow, the better. Secondly, make the most of retirement accounts like 401(k)s and IRAs, especially if your employer offers a matching contribution - it's essentially free money. Thirdly, diversify your investments across different assets to mitigate risk. Think stocks, bonds, and real estate.
Great advice for retirement planning!
Starting early and taking advantage of employer-sponsored plans can make a huge difference in the long run. And diversifying investments is crucial for managing risk. Thanks for sharing these valuable tips!
Spot on! Planning for retirement is crucial, and these pointers are gold.
Diversifying investments is a key strategy plus, having an investment expert by your side can really help navigate the complexities and optimize your financial plan.
Absolutely! Diversifying investments is crucial for long-term success. Having a fiduciary has been transformative. She navigates market fluctuations, identifies opportunities, and keeps me on track for retirement. Her tailored advice boosts confidence and informed decisions. Trusting her skills brings peace of mind, ensuring my future is secure.
That's truly remarkable. I hope you don't mind pointing me towards her direction.
I don't mind, she's Sophia Elaine. One of the finest portfolio managers in the field.
As a new nurse I started maxing out my 401K. That was $15,500 then. Because it came straight out of my check I never missed it. I’ve continued to do this for 23 years. The limit is now $19,000. Still doing direct withdrawal. Last I checked my portfolio it’s worth $1.7 million. I was young and went with aggressive funds. My point is, start early, use direct withdrawal. You can’t miss something you never had. Best of luck to everyone.
Congrats on your accomplishment! I wanted to input that the 401k limit is now $23k, which is great
Yeah to bad you will have to pay a lot of taxes on that 1.7 million . If you cash out completely now i think it would be near forty percent .
@@RebelwithaCause777 I never mentioned cashing out now. I’ve got a brokerage account not to mention the Rule of 55
@@RebelwithaCause777not is it is a Roth 401(k). Also, long term capital gains are 15% and we have a progressive tax system so 40% is a gross overestimation. Plus what possible reason would someone have for cashing out an entire portfolio?!?
@@AK_AF_LB if you knew anything about what you were talking about you’d know the limits of a yearly Roth IRA.
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
Even if you're not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April last year due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I've made over $250k since then
Your manager must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
I work with Sonya Lee Mitchell as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
It's good you make your own research. and make sure whoever you work with is licensed n verifiable with a repute, this Sonya looks the part but i'd do my due diligence. I set up a call, thanks.
Started at age 56. First year saved about 11k. It sat in a lame .15% interest account. Second year moved it to HY savings. 🤦♂️ Also saved about another 13K. Year three started with 401K enrollment. Then a Roth IRA. working feverishly to max out 2023 before April 15, then start on 2024. Currently at about 37K.
Bonus, I will qualify for the 2025 catch up IRA for people 60-63. I treat this like a part time job and read and research constantly.
Paying it forward, I talked three youngsters at work into 401k enrollment as well.
Thanks for all the encouraging videos and comments.
Now or never.
well done!
Nice work my dude!
Props to you even starting so late still. You got balls of steel
In 2013 I had less than $5000 in 401K. Now at age 50, I have $150K in 401K, $25K in Roth IRA, $50K in brokerage accts, $7K in HSA and about $15K in cash (money market)
I’m happy for you man :) way to go!
Just hit 100k in December 2023. I just turned 24 last week and as of today I’m at 112k liquid, not including other assets. Never went to college and work in a trade for 45k annually.
Can’t wait to hit a M!
You got time on your side. Good going. U will have 10M by age 65
Biggest piece of advice?
@@GioGarnada Continue researching and learning from those that have already done it. a book can teach a lifetime of knowledge in a week or less.
@@michaelcoelho5802 which books do you recommend?
AYE i hit 100K being 23 same month as you! Just turned 24 in February now im at 120K liquid too. Samesies
You broke the numbers down very well. Perfect timing, I just reached 100K. I did a lot of stupid when I was young but no stopping me now. On my way to 1M!👊💵
hell yea never to late
Fake account comment.
@@zasta7Which one? This account is actually the most recent.
Me, too, man. I wasted my 20s
I would open a savings account with SoFi which has a 4.6%APY or you could open a brokerage account with Robinhood or webull, I believe they offer a 5% apy for un invested cash, meaning you’re money is just sitting there on the sidelines and remains safe. That could could you about almost $50,000 a year just collecting interest. About $3800 a month.
The S&P 500 moved 8.9% higher last Month, achieving one of its best monthly performances in history.. which is an indicator for profits to continue to improve. I just want my money to keep outgrowing the inflation rate. I'm still looking for companies to make additions to my $500K portfolio, to boost performance. Here for ideas...
I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective consider financial advisory for informed buying and selling decisions.
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.
Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I'm in dire need for one.
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thank you for the lead. I searched her up, and I have sent her an emaiil. I hope she gets back to me soon.
This is amazing. “How to build wealth
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon. Give this a try and attain good-returns.
FinanciaI-PIanner Rebecca Mart-Watson (in fuII)
I like your dad's saying. It puts wealth into perspective. You can start with nothing and build wealth. It just takes time, discipline, and good financial choices.
I got into it too late, but my son is now 8 and we re at 18,000. By the time he is 20 it should be 100,000. So the kid has a good chance, although I missed mine. It's never too late if you have a family!
only if you dont spend the money of your so, what you probably will :=)
@@d4rkbeat I just think you're projecting.
This is the way!
what a great person you are. keep it up - both in terms of you and your son.
You’re a great father!
Ever since I started to learn more about building wealth, I have watched so many YT videos that talk about this very concept - that getting to $100K is hard, but once you do that, your money starts working for you. Been waiting for the GOAT to post a video talking about this concept for a while, thanks Humphrey!
Thank you!
What’s GOAT?
@@stevexspeed7649Greatest of All Time
Greatest Of All Time
Yeah i agree, Humphrey and Andre Jikh are the GOAT.
I've recently come into an inheritance of nearly $900,000, i'm being directed towards the stock market. What risk management strategies are recommended to navigate and safeguard my investment in the market?
Explore the option of engaging financial advisors, estate planners, or tax experts. Their specialized expertise can assist you in navigating intricate financial decisions.
@@_LauraRowley How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Assuming you are a real person... Don't take advice from people on the internet for that sum of money. seek out a financial advisor. Don't use any of the financial advisors that these scammers are suggesting. Find an advisor through a professional source.
90% of these are bots, unfortunately
thank you for this Humphrey!!
Thanks for this video. This is something everyone should watch and spend accordingly.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, I'm really just confused at this point.
A robust strategy is crucial for any investor's portfolio. When it comes to making high-stakes decisions, the greater the risk, the greater the potential reward, and it's wise to seek guidance from seasoned professionals.
A lot of folks downplay the role of advisors 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.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
NYCOLE CHRISTINA VANNATA a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I appreciate this tip. Your handler was simple to locate and appears to be extremely capable and adaptable. We scheduled a phone conversation.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery
Glory to God shalom.
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
I'm new at this, please how can I reach her?
The very first time we tried, we invested $1000 and after a week, we received $7500. That really helped us a lot to pay up our bills.
This is why I'm slightly thankful for growing up super poor because I know how to / am willing to tolerate lowering my non needed expenses to almost nothing when it's necessary. Lots of lessons are learned rationing bulk bought clearance food.
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Trading in Bitcoin now is the wisest thing to do now especially beginner....
Most people think, investing in crypto is all about buying coins and leaving it to rise, come on it takes much analysis to be a successful crypto trader.
Trading without professional guide...Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
Honestly I really need help learning to trade. Seeing my portfolio low makes me very sad.
You're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?
Weird timing, I reached the 100k in retirement the day this came out. As munger said, it was a bitch.
Definitely lol 😂
So today then lol
how long did it take you?
How many years did it take you?
Weird timing… me too! So now what do I do? It’s just sitting in a savings account.
Super grateful that at 33 I am pushing close to the end of this chart. Cheers to saving and investing since I was 15.
came to this country at 16 my parent never teach me anything about investing, 27 yr now i dont have a savings or a job and no education but i just finished my army career so far future looking uncertain
Thanks for these videos!
the yield on bonds have decreased especially on the long end (30 and 10 Y) indicating that the demand is still there even if the supply remains huge showing a preference for safety. I'm still at a crossroad regarding whether or not to liquidate my $138k
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.
@@sharon87390Yes, his name's Jamal
"The first 100k is a bitch." Charlie Munger says in 1950.
$100,000 in 1950 is equivalent in purchasing power to about $1,287,659.75 today.
Lel.
yeah I was thinking about that too. I didn't know when he said it, but like 100k whenever he said it... has to be a hell of a lot more today. getting the first 100k doesn't seem that hard. getting the first million on the other hand... and from a common sense perspective, it just makes more sense. Not that a 100k isn't nice. i'll be there in a bout 1-2 more years if the market continues to do well.
He said it in 1985. 100k then is equal to 294 today. That still don’t change the fact that when you get the compounding effect that really starts making a difference.
Charlie Munger was going around with popped collars
I thought he said that in the 90s
I personally was shooting for 100k invested by the end of last year. Lofty goal and fell short. But after 4 years of investing every single week. I am at $87,000 invested 401k, Roth, and brokerage accounts combined. Meh. Ill get there lol
I started my odyssey with a brokerage acct back in November of 2021. I'm at $96k now, trying to get to $100k by mid March or so.
@@striperkid awesome. I feel like that first $100k will be amazing haha
Great content as always. Hello from St.Louis.
Love your content and thank you for making it easy to understand. Can you do a video of what to do once the 100K is achieved? Thanks!!
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time . I was able to build a business from my returns 💚
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
I've come across this name before, is he really reliable?
I know him, he is my family's personal broker and also a personal broker in many families I'm United States, he's a licensed broker and a FINRA AGENT
Wow!, I'm surprised you also trade with Alex Gomez, he's the best at what he does.
he's mostly on Telegrams, using the user.
I agree with all this except the point toward the beginning that risking $100 is the same as $100,000. It absolutely is NOT the same risk.
Right? If instead of gaining 10% you loose it, 10k lost is definitely not the same as a $10 lost 🫠
In this context, it means the risk to gain x% is exactly the same. If the market return is 10%, then you get 10% no matter HOW MUCH you risk. The risk PROBABILITY and the return %s are exactly the same.
he just means statistically. the percentage.
You’re risking the same chance at the % loss, but not the same chance at $ loss
Well, not really. You need to look at it as the percentage of your wealth. 100$ is not going to be a huge percentage so losing it is low risk for your level of lifestyle. If you have $100k invested and lose it, it's probably going to quite destroy you.
Amazing video! Thanks
Glad you liked it!
I really enjoyed seeing the math/graph on how money grows. Even though I technically already "know" the content in this video, and others like it, I always learn more. However, the biggest reason why I love this video and others like it, is that it is constant motivation that I for one need and appreciate. Thanks. More like this, please.
Humphrey should make a video of people over 40 and the things a person should look into when investing
Thank you will do!
Yes! I’m 41
How about 18 yrs olds who just graduated? Take their grad money and start investing
@@humphreycan you delete the scambot comments?
@@Nitroat-xo4tjignore them
When that statment was made, 100K usd had a WAY different buying power. That amount of money is too low to relax but i get its more easy to make a video about reaching 100k than 500k
This is old advice on accumulating 100k…it’s more like 200k in today’s dollars from the 90s
very true. I didn’t even think of that!
@@johannab7715 $100,000 today is still a lot of money. Almost 2 years of average salary for American workers.
Had the same thought!
He can make a video about getting the 10,000 and how it speeds up from there it doesn't matter the principle is the same
It’s so nice to see an optimistic video for once
Great video!
I’ve been tracking my investment NW since 2021, when I started with 5.5K. I’m now at 44k, projected to pass 60k by EOY. 100k by Dec 2026 is the goal!
You’ll be there in no time friend!!
This is so very true. It took me 7 years to get to the first 100K. I just checked my VG account. It already made 55K in the first 8 days of February :) Get to your first 100K and first 1M ASAP
The market has been abnormally good.
I'm pretty much exactly at this spot now (~110k) at age 34. Guess it's time to consult a financial advisor...
"Luckily" I live way below my potential standards, work a lot and with some smart investing (for me it was crypto, but that obviously doesnt work out for everyone) I managed to accumulate this sum in less than 3 years. But now that I actually got some money at hand I definitely want to be a bit more conservative about my investments. Also while I know how to navigate crypto I actually don't know much about navigating stocks. So learning more about that is the next thing on the menu for me...
Thanks for the vids. You definitely helped me to understand where I currently stand. 🙂
Watched to the end and I totally agree. My first $100k was the hardest. I started investing when I was 30 back in 1998. Today, I'm 55 and have a decent $3.2M nest egg, although i had supervision of my CFP. After learning all of this, my only regret is not starting earlier when I was 25. It may not seem like much but those extra 5 years are the most important.
Congrats on the win man! I am on the same path and It's not even that hard to do. Too rigorous for newbies, maybe, but thats why its advisable to consuIt with good a market strategst.
Agreed. This is why I work with an investment advlsor. I currently have over $800k in a well-diversified portfollo that has experienced exponential growth and is well-matched for every season of the market. We are now working on a more figures ballpark goal this year.
@georgeh May I know the name of the advsor who has been assisting you, please?
She's known as 'Amber Russell Bennett'. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Just reached out to her since I need all the assistance I can get. I just scheduled a caII. Thanks a lot
This video is top notch. I just hit 100k started investing since 2008. Sitting at 112k today.
It Doesn’t explode. It usually doesn’t even compound any faster. Every dollar matters and the first 10k is pretty important.
Yea, it definitely helps and the returns are a little better. But, it's not a gamechanger.
"Explode" may be an exaggeration, but the point is its exponential growth - wealth will generate easier and easier as it grows - but it won't magically make you rich over night.
Charlie munger said this in 1993, adjust for inflation it’s $300k which I could agree with, at $300k you’re investments should be making more than you can at least put into your 401k as the max is $23k
@@Zachery_agreed. It’s good to use a nice round number, but once you’re at $300k in a 401(k), if you’re invested in the S&P 500 ETF and all of the dividends are reinvested, you can literally never deposit again and still have $3m (adjusted for inflation) in 34 years at average 50 year returns. If you continue to put $20k away, that happens in 25-26 years.
Huh
Great video 👌
Just started a month ago 7.23 (5) into vgt etf everyday and I have 191 into it and have a $2.63, 1.40% return so far
Note that he said that about 25 years ago. Adjusted for inflation it's more like $250k nowadays.
shit... lol
Lol very true...humprhey didn't get that. These finance guys are so off ...because on the same idea...after 30 years we get to 1M ? ....lol how much will 1M be worth in 30 years for fuck sake?
@@giovannizanoni6353 In 30 years, we'll be paying for bread with wheelbarrows full of credit cards.
@giovannizanoni6353 Still a lot, lol.
The exponential growth is the same, the only thing that has changed is the buying power.
Great video. Im a huge VRITOKEN fan and love your videos on it.
Your dad's sayings are not dumb! He sounds like a good teacher and father that taught you valuable lessons about money, something not everybody gets in life. Maybe you should do an episode with him that is just him saying all these words of wisdom.
one million dollars is just one hundred million pennies
This was excellent. Will show to my sons.
Exactly! Once $100K hits it's a sigh of relief that you've built up the financial muscle memory. You keep practicing investing but divert more of your time focusing on building your career or other skills.
Just a wonderful description of compounding
Solid advice...
I’m 23 years old with some money saved up and man does this feel good to watch this video and remember that I am working towards something every day. Keep up the hard work everyone and see you on the other side.
I would ditch the girlfriend and go mgtow. It's safer for you AND your finances
*Humphrey is beyond amazing. how to grow your finance, do this*
Making money is action, keeping money is behavior and Growing money is knowIedge.
I am fortunate I made productive decisions that changed my life forever (accumuIated over a MiI) through my finance-mentor. I'm a single parent, bought my house in January and hoping to retire at 54 by next year.
sear ch the name, lf you care.
*Rebecca Martin Watson*
l’m amazed to partake on this, lt has rekindled the fire to my goals.
Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?
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.
@@VanPelt54u7fcyde57 I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
massive gains! mind sharing details of your adviser pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help fuel my money goal
Bella Mia Darmon is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Thanks for putting this out. I curiously searched for Bella Mia Darmon and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
It is true. I didn't hit $100k net worth until age 40 after 18 years of working, but 4 years later, I'm over $300k. Part of that is accelerated savings and increased income, but part of it is definitely the benefit of compounding in a favorable investing environment.
Good stuff
Glad you enjoyed
Currently have 94k after saving for 5 years, cant wait to hit 100k in the next few months and relax. Also the s&p has averaged about 19% per year the last 5 years so that has helped alot
The S&P 500 will go up and it certainly will go down significantly at times, but we’re in it for the long haul! Just keep contributing and DONT try to time the market. Best of Luck!
Compound interest is an exponential function. Most people think wealth grows linearly, its exponetial 😊
Thanks.
Good, informative video.
Great premise, and love the video, but I agree with many of the other comments that a $100 investment is not the same risk as $100,000
Are you a Minnesota Timberwolves fan? You used an Anthony Edwards block and Rudy Gobert block.... I am a huge Wolves fan and I am a huge fan of you. Great content!
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time . I was able to build a business from my returns
When I started work out of Uni it was pretty slow.
Now that my student loan is paid off, and I'm promoted to a decent salary, and my investments have started to grow beyond that salary... it is really going fast. My only problem is I don't want to spend and ruin it!
This is so relatable and true lol. I remembered how tough it was before I hit the $100k mark 37. I am 56 today with over $2.8 million in my retirement nest fund alone, didnt take me any stress to get there. Maybe its because my CFP is reliable, but point is, it was way easier from there.
I'm headed in the same direction, and it's not that difficult. Perhaps too complicated for beginners, but that's why it's best to consult an experienced market strategist.
Agreed. I deal with an investment advisor for this reason. I currently have over $800k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target.
@georgeh Could you be kind enough with details of your advsor please?
She goes by 'Amber Russell Bennett'. I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finances, but so glad I did!!!
I appreciate this share. I set up a call with her and I am keen on getting to talk to her particularly.
You're not risking the same by investing more though...that would only be true in retrospect. In reality you don't know what future returns will be so the higher the investment the greater potential loss.
Yeah by his logic, you should just do some crazy leverage. 😂
great video! great reminder to save more money, but still live in the moment!
Absolutely!
Live in the moment is stupid, moment is gone in just that a moment. Can not take it with you, pass it along you can and will! Its what I live by, my son and his future children will benefit, that's my goal.
Great video.
The first $100K was tough but the next, and then the next and the next keep getting easier and easier. Rolling now my wife and I are.
*I remember having a consultation with a financial analyst last July, and it was incredibly insightful, can't stress enough how helpful experts in this field are!*
As long as you diversify your portfolio, any single investment that you own shouldn't have too much of an impact on your overall return, if it does, diversifying might might be the right choice for you, as one can also try out other commodities. I now have a balanced portfolio that is yielding profits for me.
@@HendersonMiles-kp8gw That’s why I’m 100% in an S&P500 fund. Diversified over 500 of the biggest US companies and 46% of their sales are international.
It's the percentage game, where the 10% average market returns is significantly greater when you have a larger sum which is the 100k accelerating the compounding. Great lesson
Great Video Humphrey, couldn’t agree more my portfolio is only in its infancy but I’m trying to claw my way to that 100k mark as soon as possible! Even if it means walking everywhere! 😂
You can do it!
This was a great video.
Glad you enjoyed it
The first $100,000 was definitely the hardest for me, but seeing how compound interest works with more and more $ is incredible. Great video!
Eating out and DRIKING out are HUGE drains on your money.
I discovered the power of compound interest at age 52. Luckily, I do have decent money saved up through 401Ks and stocks. I plan to move everything to S&P 500.
Good stuff, man. Thanks
Is it the first 100k contributed or amassed? Same goes for when calculating NW which do you utilize?
Usually it’s amassed. But I do like to use contributed as a metric to feel like I’m more ahead.
In this video he said it takes about 7.5 years to get to 100k assuming you contribute 10k a year. After 7.5 years that means you only contributed 75k. So I believe that extra 25k is coming from capital appreciation.
At around 5:55 he also mentioned saving 100k doesn’t mean saving 100k. He specifically mentioned that you’ll get there by contributing 90k and the remaining is from appreciation.
He said this decades ago, would be helpful to adjust for inflation to preserve his actual intent. "Your first $200k-$300k is a b****"
Trueeeeeee
Itd be interesting to breakdown 100k in retirement vs investments vs outright liquid savings. Not really all equal in my eyes. Ive got 78k in retirement but it doesnt feel as accomplished as if it were outright liquid that i had free to do with what i wanted.
Hi Humphrey, what tool do you use to draw those charts/illustrations?
We have a saying in India. "Boond Boond se ghat banta hai" translating as "Save one drop at a time, fills a bucket", analogoues to your dad's saying. Love it!
hit my first 100K in december, two days before i turned 26!
Damn im 24 on my way, got like 24k invested! good shit my guy
I hit my 100k today, aswell 26! :D
@@killectronewday8585keep at it fellow 26 year olds. The math checks out though. I'm at 850k and close to breaking that 1mil. Thanks NVDA
Way to go
Lies
Grant from myth busters keeps giving
My net worth shot up after I bought a house then I started maxing out my Roth which my company matches, I work a lot of overtime so that obviously means my company has to match even more cause I make more. I’m a penny pincher so I’m good at saving I’m also humble & I know what hard work is like, I have friends that live in trailers and friends that live in gated communities. In America you have freedom to choose the path you want to take and that’s true wealth!
I know I’m being that guy, but technically saying what amount your wealth explodes at depends on what you think a lot of money is. I think $100k is a good benchmark for most people right now but it’s equally valid to say it “explodes” at $60k, $150k, etc. depending on what you’re impressed by as far as how much you’re making per year.
I’m getting my first $100,000 from my 23 year-old son’s life insurance. It is definitely a bitch.
So sorry for your loss
That is a tough pill to swallow. You will get through this, though! I hope you keep an eye out for the light in your life. As little as it seems, at times, it still banishes a lot of darkness. Life is a bitch, but it's one worth dating.
sorry for your loss, just some advice tho, saving your first thru years of dedication vs getting it in a lump sum is totally different. don't fall into life style inflation and mismanage it. wish you the best
Well that was an easy $100k..your on your way
I’m sorry to hear this, what happened to your son? It seems like a lot of young people are dying nowadays from heart attack, stroke, cardiac arrest
The main reason saving up to 100K explodes too, is that anyone who has saved to 100K, doesn't "need it".
If you saved $100, total, youre probably in a state of life whete a minorly bad day means you need $100 and take it all.
When you have $100K, if youre not living too stupidly, even if you have a horrible day, maybe you steal 5-10K. Or maybe you just dont add money that year.
I've lived successfully and effectively thrived before on about 15K/year. There is a world of differencr between what happens if your car has a problem on 15K, vs 50K/year. I just put some serious unexpected maintenence on my car, that was at a level that would have put me into a state of shock and life or death in the past.
I found it mildly inconvenient and a bother to my luxury plans now.
Excellent video. You earned a like and subscribe. Thanks!
Additional earnings reports from major tech companies, driven by Nvidia, coupled with trader FOMO, could fuel a resurgence in market buying pressure. I'm considering investing over $300k, but I'm uncertain about risk mitigation strategies.
Nvidia stock is roaring like many did during the 1990s bubble. But this time around, the hype around new chips is happening in a more mature demand environment.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Marisa breton Dollard is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
This is some value-adding ass content right here boiii
Thank you!
Great video. What website did you use to make the graphs of savings vs interest at 6:30? It's a nice visual compared to the usual compound interest calculators
Regarding the high yield savings account it depends on which country we are in, it's not always obvious
Don't move out if you're in the position to. Managed to get 100K by basically having little to no expenses saving over 3k a month cause of that. Super grateful for my parents for supporting me, and also taking care of most of my uni costs. Had to work fulltime while doing uni, but it was worth it.
Got there at 22 before I even graduated 😁
This is what I *wish* I’d done. I started at 27 and while it took just 3 years, it took working literally hundreds of hours of overtime combined with drastic cost cutting. I would have been so much easier before I left home.
All hat, no cattle.
My favorite line from that book. Lol
Wow. Thanks
You are most welcome
Reached 200k this week. It's facinating how your own perspective starts to change. Start easy with an ETF instead of stock picking and focus on putting more money to work. That's my learning after first 7 years of investing. So pay yourself first and spend the rest. :)
Man when I was broke and in debt 100k didn’t sound like a whole lot of money… now that I’m building wealth I really understand just how much money that is
Yeah trying to hit 100k by 35 I feel so behind. Started investing right before I turned 30.
Same here, investment is a small part, debt elimination is more important. Paying off loans and credit cards can be up to a %30 return. Guaranteed since most debts are fixed interest. Also net is assets MINUS debts. Good luck you can make it if your not too in the hole.
This is not a raise or a competition. It’s called consistency.
I am 29 with $10k in retirement and $50k saved.... I messed up my youth hard. I will probably use the $50k for a house downpayment. So in reality I only have like $10k invested. Yikers.
@hhjhj393 29 is still young though. It's a good time to start stacking. As long as you're stacking big.
I've recently watched a few videos of why it's "impossible" to save and be able to retire. This post is refreshing.