Why Net Worth Goes CRAZY After £100k!
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- เผยแพร่เมื่อ 30 มิ.ย. 2024
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My name is William Gale, and I’m the founder and CEO of The British Home Group of Companies. Curious to learn more? Check them out below! I took the leap into entrepreneurship in 2012, quitting my job to start my first company, and I haven’t looked back since. I hope you find my content valuable.
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Why Net Worth Goes CRAZY After £100k!
🚀 Unlock the Secrets to Wealth Growth! 🌟 Wondering why the first £100k is the hardest to make? Join us as we unravel the mystery and reveal strategies to accelerate your wealth-building journey! 💸
🔍 In this video, we dive deep into insights from legendary investor Charlie Munger, the vice-chairman of Berkshire Hathaway. Discover why saving that initial £100k is a challenge, yet crucial for your financial success.
1️⃣ The Power of Compound Growth: Understand how compound growth makes each milestone easier as your wealth snowballs. 🌨️ Let's break down the process and see why the first 100k is the most labor-intensive.
2️⃣ Intrinsic Motivation: Explore how as your wealth grows, investing becomes a motivational journey. From extrinsic to intrinsic motivation, learn why the process becomes inherently rewarding and enjoyable.
3️⃣ Leverage: Uncover the surprising ease of borrowing money as your wealth expands. Leverage can be a powerful tool if used wisely, enabling you to accelerate your wealth-building journey.
4️⃣ Income-Generating Assets: Delve into the world of income-generating assets, with a focus on property investments. Learn how borrowing against assets can multiply your wealth, making money work for you!
🌐 Ready to take your wealth-building to the next level? Check out our other videos for in-depth insights and strategies! 📈💡 Don't just dream about financial freedom-make it a reality!
#WealthBuilding #FinancialFreedom #InvestingTips #CompoundGrowth #Leverage #IncomeGeneratingAssets #CharlieMunger #InvestmentStrategies #WealthJourney #MoneyMatters #FinancialSuccess 🚀💰
At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
I completely agree; I am 60 years old, recently retired, and have approximately $1,150,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
@@mikegarvey17That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
Credits to "Gertrude Margaret Quinto", she maintains an online presence. Just make a simple search for her name online.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Another great vid Will - it's exciting getting to the point when you see swings in your investments bigger than your salary earnings for a day (so long as it's going up! Hahaha)
Agreed 100%
When you get to that stage everything changes physiologically.
Great vid! You have a new sub! I get a lot of Ali Abdaal vibes from you :)
Thank you so much! What a compliment, hugely appreciated 🙏
When Warren and Charlie talks about the first one hundred thousand it was one hundred thousand in 1950. It would be equal to one milion today.
Great point. Charlie Munger referenced the 100k in the 1990’s. So adjusted for inflation that would equate to about 235k today.
Nonetheless the principles are the same. The first 100k is harder to produce that the second. Or the first 235k to the second due to the power of compounding.
Hypothetical: if you had 100,000 lying around.
Do you suggest depositing all of it into an ETF right away? Or should you DCA over time?
It depends on your risk tolerance and investment strategy. Dollar-cost averaging (DCA) can help reduce the impact of market volatility, while investing a lump sum upfront might capture potential gains if you get the timing right. Consider your financial goals and preferences before deciding.
I’m not a financial advisor so this is all just my opinion. I personally DCA overtime so I can switch-off mentally to it and not overly focus on fluctuations over months.
@@TheWilliamGale big thanks. appreciate the response!
🙏
u know what!
I bet on ur channel succeeding.
Thank you! That is really kind of you to say 🙏
I really mean it. I'm not trying to be kind.
wish u a successful year.
Thank you my friend. You too
Kinda meh video, talking about debt to normal investors... Go and grind, dont go into debt.
Utilising debt (leverage) against “appreciating” assets is one of the best tools to generate wealth my friend….
It’s too risky
@@seanlin6050 in your opinion yes…. However for me personally sensible use of leverage is certainly not to risky & ONLY in conjunction with “appreciating” assets with a long term outlook.
Thank you for your comment