Actually the first $10k is the hardest. But if you can start with nothing and get to that point, you probably have what it takes to get to 100 once you get your game right.
@@BrandonLeech The first step in anything is hardest ;) And yes I agree. If you’ve developed the habit to reach the first $10k then you probably have what it takes to stick it out.
damn unc really dropping knowledge. i'm 25 w none of that set up man just save in my checking account or cash but u just really inspired me fr. idk how i even found this vid but ima call it a blessing 🙏
@@whyjustwhy2168 Most people only have a few healthy years between the usual retirement age of around 65 and their 70s, when health really starts to go downhill. Just a few years to really do all the stuff that you want to do like travel. We want to extend that to as many years as possible. That’s why FIRE :)
Johnny, Is funny all my old co- workers like money. is only natural correct. they all work overtime 100 - 120 hrs a week for years / decades but they have no idea try to save $100 a month, forget a week! I used to educate / inform these people, but they rather spend $8.00 coffee bagel / $ 12.00 lunch daily / make $ 800 payment on lease BMW & they look at me like I'm crazy. LOL I never work O/T until my last 3 years on the job. imagine I would have work O/T last 10 years. my net asset would be even more.
@@masonloh1411 On my to do list is all the stuff I wasted my money on that add up to hundreds of thousands, and another video on all the little ways I save money that have added up to hundreds of thousands over the decades. Most won’t believe it. The few like you have already done it lol. Good for you!!
I wish I knew what I know now 20 years ago. I have only started to invest aggressively about 5 years ago when I was 35. I would love to retire at age 50 but I know this won't be possible. It will be probably be closer to age 60 God willing.
@@brakmaster 35 is not too late. Far from late. I too wasted a lot of money in my 20s. Really began hitting it in my 30s. If you cut out some expenses you can really get ahead in the next decade or 2
@@RobFishYT Nobody can predict the economy or stock market. The only thing the market does is go up and down in the short term and up in the long term. That is verifiable history. The future is anybody’s guess. And nobody can reliably predict its course.
@@somedudeonyoutoob If you’re in some large market index such as SandP, then you should be growing at about 15% per year in recent years. It should be growing very fast! What are you invested in? And 600k is a good amount. You should be growing by $60-100k a year, even if you don’t add new money.
@@RetireearlyNYC i can't seem to bring myself to dump it in SP500 at all time highs. im 39. my plan is to wait till TSLA hits $500 and sell half. then buy a house. i just don't see any opportunities like tsla that can 2x-5x-10x by the time i retire
Hello, the reason why compounding interest works is not only due to you putting in money but the ability of the company to grow. TSLA itself offers NO Dividends, and that factor is really crucial especially with compound interest. Spy offers dividened of at roughly 1% so every quarter you would get 1% dividend payment, and you could use that to bloster your compounding or just hold the dividend payment to buy when spy is a bit low if youre planning to time the market. TSLA is great stock don't get me wrong but volatility will cost you. If you want to hold Tsla, I'd say go for it.
Actually the first $10k is the hardest. But if you can start with nothing and get to that point, you probably have what it takes to get to 100 once you get your game right.
@@BrandonLeech
The first step in anything is hardest ;)
And yes I agree. If you’ve developed the habit to reach the first $10k then you probably have what it takes to stick it out.
Hi Johnny, I like your tips and advice that seems "casual" aka not trying too hard to sell, and transparent.
@@epiclifeat4084 thanks that’s bc I have nothing to sell:)
@@epiclifeat4084 this is purely for fun and if I help a few people along the way that would make me happy :)
The first million is 10x harder.
Interest rates offered between 2008-2022 were ultra low. S&p500 index would be better investment option.
R u seriously comparing bank savings and sp500? 😂
Whats next wisdom? Water is wet
I knew this video would blow up! Continue to provide us with your wisdom we’re listening and applying✍🏾
@@mp22422
Thanks! Will do!
damn unc really dropping knowledge. i'm 25 w none of that set up man just save in my checking account or cash but u just really inspired me fr. idk how i even found this vid but ima call it a blessing 🙏
@@sacred324
You’re welcome. Now get after it;)
that’s my pa yo🙏🙏
Compound views and comments 🤣💯 thanks Johnny
@@joeyparra3937
You’re welcome! Hope you enjoyed it and maybe got something out of it:)
And our life gets shorter and shorter and shorter but definitely do what ya can with what u got
@@whyjustwhy2168
Most people only have a few healthy years between the usual retirement age of around 65 and their 70s, when health really starts to go downhill. Just a few years to really do all the stuff that you want to do like travel. We want to extend that to as many years as possible. That’s why FIRE :)
Johnny, Is funny all my old co- workers like money. is only natural correct. they all work overtime 100 - 120 hrs a week for years / decades but they have no idea try to save $100 a month, forget a week! I used to educate / inform these people, but they rather spend $8.00 coffee bagel / $ 12.00 lunch daily / make $ 800 payment on lease BMW & they look at me like I'm crazy. LOL I never work O/T until my last 3 years on the job. imagine I would have work O/T last 10 years. my net asset would be even more.
@@masonloh1411 people laugh at the avocado toast and Uber eats jokes, but that’s exactly what prevents them from being decently wealthy one day!
@@masonloh1411
On my to do list is all the stuff I wasted my money on that add up to hundreds of thousands, and another video on all the little ways I save money that have added up to hundreds of thousands over the decades. Most won’t believe it. The few like you have already done it lol. Good for you!!
Thanks for the follow up video!👍🏾
@@mp22422
My pleasure!
Compounding interest is the 8th wonder of the world!
@@OurRetireEarlyJourney
Yep! And it’s amazing that more people don’t know about it!!
@@RetireearlyNYC We've taught our kids to start young and just keep adding even a little to let that grow!
@@OurRetireEarlyJourney
Same here!
⏰ +💲= 🍾
100k is pretty easy, a normal 60k job will get you there in a few years. 1m is much harder.
@@KaYungCalebLai
Absolutely. Its the same habit that gets you to the $1M
I have 550k saved and i don't see any way to make my money grow other than putting it in the sp500 and wait 10 years untill it reached the 1m
@@unknowndriver6652
It’s the most reliable way to
I wish I knew what I know now 20 years ago. I have only started to invest aggressively about 5 years ago when I was 35. I would love to retire at age 50 but I know this won't be possible. It will be probably be closer to age 60 God willing.
@@brakmaster
35 is not too late. Far from late. I too wasted a lot of money in my 20s. Really began hitting it in my 30s. If you cut out some expenses you can really get ahead in the next decade or 2
Is there a way to let us know where to put the money and have compound interest
S&P is the easiest and safest. But really anything that generates returns annually or overall consistent returns
The guy that predicted trum-p incident said the market crashes tho.
@@RobFishYT
Nobody can predict the economy or stock market. The only thing the market does is go up and down in the short term and up in the long term. That is verifiable history. The future is anybody’s guess. And nobody can reliably predict its course.
@@RetireearlyNYC It's not possible for everyone at a poker table to walk away a winner.
i am way past 100k but i can't seem to grow it to 1million. been stuck at 600-700k
@@somedudeonyoutoob
If you’re in some large market index such as SandP, then you should be growing at about 15% per year in recent years. It should be growing very fast! What are you invested in? And 600k is a good amount. You should be growing by $60-100k a year, even if you don’t add new money.
@@RetireearlyNYC 500k invested in TSLA and 250k in cash
@@RetireearlyNYC i can't seem to bring myself to dump it in SP500 at all time highs. im 39. my plan is to wait till TSLA hits $500 and sell half. then buy a house. i just don't see any opportunities like tsla that can 2x-5x-10x by the time i retire
@@somedudeonyoutoob TSLA is what is sinking you.
Hello, the reason why compounding interest works is not only due to you putting in money but the ability of the company to grow. TSLA itself offers NO Dividends, and that factor is really crucial especially with compound interest. Spy offers dividened of at roughly 1% so every quarter you would get 1% dividend payment, and you could use that to bloster your compounding or just hold the dividend payment to buy when spy is a bit low if youre planning to time the market. TSLA is great stock don't get me wrong but volatility will cost you. If you want to hold Tsla, I'd say go for it.
Great explanation regard to $100K compounding interests and times. Eventually, this will lead to the amazing snowball effect, indeed. Thanks.
@@mariex800
Yes! Warren Buffet :)