First $100K Is The Hardest

Charlie Munger said: “The first $100,000 is a bitch, but you gotta do it. I don’t care what you have to do – if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.” But, why? What’s the math behind his statement? Saving Your First $100K Let’s look at the math together. Assume for a moment that you’re able to save $10,000 per year. And, let’s further assume that you’re able to earn 7% per year … Read more