Today I’m getting into the fastest path to your first $100,000. That first big milestone is usually the hardest because it comes more from income, discipline, and savings rate than investment returns.
I’ll take you through three paths: career first, investing first, and the hybrid approach, which is where most people can move the fastest. I’ll also break down the more aggressive path, including building high value skills, expanding income, saving 40 to 60%, and keeping investing simple.
It’s important to remember that you should focus less on chasing huge returns and more on growing your income, controlling your savings rate, building valuable skills, and creating opportunities. Once you hit that first $100,000, compounding starts to work a whole lot harder for you.
Important Information:
This podcast was created to provide accurate and reliable information on the subjects covered but should not be regarded as a complete analysis of these subjects. It is not intended to provide specific legal, tax or other professional advice. The services of an appropriate professional should be sought regarding your individual situation.