Why the first £100,000 is the hardest, but the rest gets easier
The first 100k is the hardest, but the rest gets easier.
In this video we talk about why the first 100k is so hard to get, why it's so important that you do and why the next 100k is so much easier.
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Пікірлер: 67
Yep, as pointed out by everyone, Charlie Munger is not of Vanguard fame! The internet loves a misspoken word or two!
@Lenny-nr4yv
5 ай бұрын
I know what you meant Dave 👍
@PrettyPennyClub
5 ай бұрын
Haha! Happens to us all 😂😂
@rkent06
5 ай бұрын
But on that point Jack Bogle was an incredible man and well worth listening to any interview he gave and he wrote many interesting books as well!
@PrettyPennyClub
5 ай бұрын
Absolutely 💯
@sherlockrobin597
5 ай бұрын
He also said it in the 1990s, so he means about 250k today
26k in.....very addicting but slow going.
@PrettyPennyClub
4 ай бұрын
Get rich slow 👍 it's like crack.
Awesome video David, I’ve literally just started my journey to 100k and this is a great video.
@PrettyPennyClub
5 ай бұрын
Best of luck! Thanks.
You are doing so well David, in such a short space of time. 🎉
@PrettyPennyClub
5 ай бұрын
Thankyou... just chipping away. Plenty of encouragement from everyone is nice 😃
Charlie Munger of Berkshire Hathaway fame. Jack Bogle of Vanguard fame.
@PrettyPennyClub
5 ай бұрын
Of course.
I really appreciate your calm and communicative videos. Thanks.
@PrettyPennyClub
5 ай бұрын
Very kind, thankyou. Hope they are useful
Great stuff David, I love the calming effect you have on video; not everything has to feel hectic and rushed all the time - just do what you can consistently and take it easy, right? All the best, and onwards to that 100K 📈
@PrettyPennyClub
4 ай бұрын
Thanks, Iain - yeah, sometimes we just need to stay involved and let the results come to us, instead of chasing down rainbows. Stick to the plan.
Thanks for sharing and all the best on your journey
@PrettyPennyClub
5 ай бұрын
Thank you! You too!
Great video man, I appreciate your candidness you've got a new subscriber for sure
@PrettyPennyClub
4 ай бұрын
Hey, thanks for watching and for your sub. Much appreciated
Morning David Just come across your video on the tube .Yes I'm 100%with you on much of what you and many others say Listening to the likes of Charlie and Warren I would say is great advice .Making a first move is always a very positive step ,however small it may be .The thing that I see in so many vids is the "hindsight "rear view mirror view of it all If udd invested x , y number of years ago All very true but what certainly "scuppers "many of us is a market "correction "!!!Keeping invested and if you can fight the human urge not to come out but go in deeper when it's down Please get your viewers to subscribe as I have Shall be following you Good luck with the £100k quest sir 😊😊😊
@PrettyPennyClub
5 ай бұрын
Thanks for the comments 😃 I wouldn't necessarily invest more when there is a dip - I prefer to keep my contributions regular and consistent. Thanks for your thoughts
Great video David
@PrettyPennyClub
5 ай бұрын
Thankyou. Hope it was useful!
Good video, I have too much in savings & not stocks / shares, it’s a guaranteed 5% at present but will try to build it up into shares, am kinda worries the market is due a correction & don’t want to see big drop where I put it all in at once etc
@PrettyPennyClub
5 ай бұрын
Why do you think there is a correction due? I'm not saying there won't be but I've learned there is little point in trying to time the market. 5% ain't so bad tho!
We're on a similar journey. I keep coming close to the 100K but have not yet achieved it. I believe this may happen this year or next year. I am not certain because most of my net worth is tied to equities. It has been a 6 year process since I started taking investing seriously. I am turning 40 this year so looking forward to the future.
@PrettyPennyClub
4 ай бұрын
Great going. Congratulations 👏
Does this 100k have to be in a single fund, or can it be across multiple funds in order for explode?
@PrettyPennyClub
5 ай бұрын
100k isn't really important in that sense. It's just that 7-8% of something large yields something large! It doesn't really matter where the funds are distributed 👍
@chang.07
5 ай бұрын
@@PrettyPennyClub Been confused about this for awhile, appreciate it for the clarification !
28 and just hit 178K. 100K ISA + 77K SIPP. Every day I look forward to the future of compounding. It really picks up. 😁
@PrettyPennyClub
5 ай бұрын
Great work!
@itsmesaltax
5 ай бұрын
Saved and invested every penny I could for the last 6 years. It’s been hard work but it’s worked out
@PrettyPennyClub
5 ай бұрын
That's the way to do it
@cameronmmj9291
4 ай бұрын
Honestly, thats amazing work. Well done
You said starting from £0 is very difficult, It's even worse if you start from being in debt.
@PrettyPennyClub
4 ай бұрын
Credit card should certainly be eliminated first before investing I would say. Other high value debt too, probably 👍
$100,000 = £79,000
@PrettyPennyClub
5 ай бұрын
Sounds about right.
100k I had it but lost it back at 26k 😢
@jteyeyhsh
5 ай бұрын
How did you lose it if you don’t mind me asking?
@pauldeal68
5 ай бұрын
@jteyeyhsh bad choices ...had over 100k inheritance from sale of a property...was never a risk taker to be fair and was doing OK just getting interest in the building society...until rates went to zero in 2008 ...credit crunch spent abit on my house improvements and a car ...but had a decent chunk left until I decided to start dabbling in the stock market...in 2015 ....brexit came along then trump ...then covid...and ended up buying high and selling low !!
@PrettyPennyClub
5 ай бұрын
Oh no... sorry to hear. Investing is never risk free, but hopefully sticking to an index fund strategy will see long term gains. If that's not a good fit, then guaranteed rates at the bank aren't so bad either. I'm sorry this happened to you
@pauldeal68
5 ай бұрын
@PrettyPennyClub yep that's life...I am currently still trading individual stocks ...but once I hit 30k any gains are getting transferred to vanguard and into index funds plus any new money into vanguard too.
@PrettyPennyClub
5 ай бұрын
@pauldeal68 trading or just buy and forget? Trading is so hard to keep getting right. Best of luck whatever you go with 👍
Charlie Munger is not of vanguard fame
@richardwall2330
5 ай бұрын
You don't say 😮😮😮
@davidjones4130
5 ай бұрын
No , i dont . But you did at 1.18@@richardwall2330
@davidjones4130
5 ай бұрын
No but you do at 1.18
@PrettyPennyClub
5 ай бұрын
Of course.
@lawrencer8673
4 ай бұрын
John Bogle started Vanguard
100k is hard, but 1M is harder :(
@PrettyPennyClub
15 күн бұрын
Got to start somewhere 👍
@boyan.manahilov
15 күн бұрын
@@PrettyPennyClub completely agree. I got very excited when I hit 100k, but then creeping to the next goal of 300k or 400k is not bringing the same satisfaction and joy as it did when reached the fist 100k. I guess 1M mark will make the difference.. but then it will be bigger goal...
@PrettyPennyClub
15 күн бұрын
@boyan.manahilov it is funny, that. It's like anything, it's very exciting at the beginning and then becomes a bit of a grind. Might make a good video that one... 😁