🐪 Hump Days Newsletter ➭
In this video I’ll show you simple strategies to get to $100,000 in Net Worth this year. We’ll break it down, talk about irreplaceability, leveraging your skills, and ultimately helping you to earn more money.
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Timestamps:
0:00 – Intro
0:30 – Charlie Munger’s Advice
1:00 – How Your First $100K Is Actually Made
2:06 – The Math For Your Next $100,000
2:30 – Breaking Down $100,000
3:15 – How I Would Do It
4:00 – Irreplaceability
4:57 – Your High Income Skill
6:07 – An Exercise You Can Do
7:00 – Learning Skills
8:52 – Cutting Costs
10:00 – A Note on Frugality
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PS: I am not a 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
Hope you all make $100,000+ this year! Here's the link to my free newsletter ➭ https://humpdays.substack.com
Can’t save 1000$/month when I only make like 2500$/month 🥴
I do not feel bad about not giving McDonalds more of my money
as I simply won't buy it if it isn't part of a deal.
Another recycled video….
This video is incredible and the way you explained it is very easy to understand.
Paid Writer 7:44
One of the issues people face is that while they are saving, they are indebted to school loans or to banks, so that 100k is more like 50k.
All of those freelance gigs you mentioned require years, at least 5 before you are good enough with the software or camera gear to be competitive and to have enough clients to bring in enough money. So this video is really just click bate.
You're Right, most people spend first, then look at what they have left, to save. some four months ago, I simply started Saving 20% of my Net Income, monthly. It is Satisfying to know – It Works! Cheers, Brad H
He didn’t talk about taxes at all. Even if you make 100 K, you will not be taking home that amount.
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
Charlie Munger advice 0:24
Your First 100k 1:42
Paid Writer 7:44
This video seems like a long commercial.
I started watching this thinking "Yes please, I'd love to have more money". Then you realize it requires saving a thousand dollars a month, which is literally impossible to do for most of the current millennial workforce. Most millennials live in multi-bedroom apartments with roommates sitting around $2800-3500/mo, while earning $17/hr, working an average of 30 hours a week. That's just over $2000/mo in income after taxes. Let's say rent is $3000 for a three bedroom. Your share of rent is $1000. You have $1000 left. Minus health insurance, car insurance, car payments, phone bills, power bills, internet; you're already looking at around $200-$400 left over, depending on how much power you use, or what car you finance.
Seeing as a car is the lifeblood of most people's ability to work, let's say someone got rid of their car. You then have to take the bus to work, and most cities do not have great public transit. It takes you two buses to get to work. $5/day for 25 days of the month is $125. At this point you're spending more money on bus fare than you do on car gas per month. What else are you going to gut? Your phone bill? The one you need for work or emergencies? The power bill? How do you wrangle in a househood's worth of food if everyone is out for themselves? Nobody else is paying for food for you.
Saving is one thing, but there should be some acknowledgement to the actual financial realities' gen X and gen Z are facing with wage stagnation contrasted against the cost of living doing nothing but increasing. You can't just "save" these problems away. In order for someone to save 100k in a year, they would automatically need to be making more than $3000/mo, which is almost nobody within the service&labor industry unless they're killing themselves working more than 40 hours a week. 40 hours, not even being considered a "full time job" anymore. Many states have reduced that classification to 34 and 36, depending on location. The math does not math.
currently, at 10k, I'm 10% there. but if my mother finds out I don't want to go to medical school she's probably gonna disown me lol. I need to develop a high-income skill or work multiple jobs or something.
All this high potential skills are now done by some AI software lol
Wow most those skills pay $22k a year
Jesús, what kind of job do you need to be able to save $100k and be able to take care of responsibilities? Like is this assuming your job is in walking distance with no car payment or car insurance and have no debts? I thought I was doing okay saving $100 a month lol
I have a 401K in 3 years I am at a 3.11% rate of return. That seams low as my tax rate will be higher than that at retirement. I would have less money than invested it seams.
investment requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself.. May
So happy I found you. I have no idea how you would see this comment but if you do, I’m in a dilemma. My mortgage is $300,000+ and is my only debt. Should I try to pay that off as quickly as possible or should I focus on using that money to POTENTIALLY amass greater wealth in that same time frame and then use the difference to pay my mortgage and have money left over to continue to grow and reinvest?
I am so torn. I have investment accounts and a growing side hustle IN ADDITION to a stable job that already pays me $140k+ per year. I just can’t decide what to do with that flow of money. I feel like if I pay my mortgage first, it will take me that much longer to amass wealth after that. And if I focus on wealth generation first, I can’t decide how risky that is vs paying off my mortgage
Thanks for nothing…..all you said was save money….yeah no crap……we already know this.
Wasn't Alex Becker a private investor for Project Blcktken300 . It's been killing it lately. Do you think it's still got room to move.
Blcktken300 is sparking intrigue. Let's unpack its potential!
I much prefer Blcktken300, last bullrun ETH became unusable to many use cases due to its ridiculously high gas fees
Blcktken300 gang in the house! Thanks for the analysis!
For real Blcktken300 at less than $1. is like BTC at $100. When Blcktken300 finally blows it's gonna be epic.
I noticed Blcktken300 . I find the $10 prediction intriguing. It's time to get specific about the project.
Investors, let's decode Blcktken300 potential!
Bought Blcktken300 at 0.88 each, couldn't believe my eyes when I saw it soar past 1$.
E-commerce tokens are booming. Blcktken300 will go 50x after the launch.
ETH has its merits, but Blcktken300 growth potential is alluring. Made the switch and feeling optimistic!
Blcktken300 has the most potential to do more than X10. ETH and BTC will most likely do a X5-X6, but that's fine for me. Gotta look for better entry points while I stake IRIS and PGEN, then wait for Polygen's next raise as I also look at their new partnership with Kenzo Ventures.
Just swapped all of my last ETH and swapped it into Blcktken300 . Already up a little bit. Unfortunately I have some other junk staked which won’t free up for a while. Still now I am on the train!
Need more Blcktken300 content. Converted my ETH to BTC but kept my Blcktken300
That's a solid list! I'm also big on Blcktken300 , avalanche, algo, and matic too.
Do it. Blcktken300 already in my bags. I had a Blcktken300 after ( your should I buy ) and I agreed and bought. I'm looking to stack more, too.
Exploring Blcktken300 as a potential investment. The self-governance concept is intriguing.
With Blcktken300 , the sky's not the limit – it's just the beginning! 🌌
In my opinion Blcktken300 has great Potential to Pump due to all the ai craze…
Adding thousands Blcktken300 more in March. Hope it’s not over $1 by then 🙂
Now we just need to see the Blcktken300 price also move in the same direction as these charts. Up. Very Up.
I was sure last year would end terrible for me but I think Blcktken300 is spot on with what they do and how they do it. Cant say for how long its going to work and for sure it is overyhped right now but even if just half a year or something it would be smart to ride the wave and then jump away eventually, but the reason why this is smart right now is because its so cheap, wont ever find a better entry than now
What if u didnt start until 35? Lol
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Kobe! 😂
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