3 Reasons Why Your Net Worth Explodes After 100K

[Quixote1818]

[JoseBalow]

1. What are the 3 reasons?

[Quixote1818]

2. It's more interesting to watch the video to see how quickly $100,000 compounds to a million

compared to how say $10,000 compounds into just $50,000.

[Happy Hoosier]

3. Yeah, the principle is a little weird...

but $1 million in wealth is astill a milestone in our country. It's not longer Mr Howell rich. 18% of U.S. Households are actually net worth millionaires which is kind of surprising for those of us who grew up thinking of millionaires as fabulously wealthy. And to be fair, compared to the world's population it still is. But it's not "private plane rich." That's includes home value too, which isn;t readily accessible, so some Finbros prefer to talk about "liquid millionaires," that is people who have a million dollars in spendable assets. Your home being worth a ton is great, but not useful unless you intend to liquedate it. It'll benefit your heirs. I think of it as a piggy bank. If I really get desperate, it's available, but it's a last resort. A lot fewer households have a million dollars in SPENDABLE assets. I think I recall it was around 8%. But that's still pretty high, all thing considered. Unsurprisingly, they are concentrated in high cost of living areas.

[bucolic_frolic]

4. That was a good pep talk, led me to other YouTube gurus

My gurus tended to be older, wise, methodical, and insightful. A good landscape for mutual funds.

But now I have 2 new stock picking gurus. Large and small, a young wealth builder who *says* he's in the 1%, but since I don't believe him I won't tell anyone about it. And a Grand Old Dame who knows her stuff, if you're into stocks with very high share prices. Good for intraday option plays anyway.