Brad HartI help 7-8 figure entrepreneurs scale faster with AI, masterminds, and results-driven systems | Founder of Optimus & Repurposefully

How Long Would It Take To Reach Your First $100,000? #makemoremarbles #financialfreedom #millionaire

Name: How Long Would It Take To Reach Your First $100,000? #makemoremarbles #financialfreedom #millionaire
Uploaded: 2022-11-19T23:42:51+00:00
Duration: 49 s
Channel: Brad Hart
Description: Brad Hart breaks down the math: invest $10,000 a year at 8% returns and hit $100,000 in 7.5 years. The first $100K is mostly your own money (73%), not…

19 Nov 2022 · 1 min

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Brad Hart breaks down the math: invest $10,000 a year at 8% returns and hit $100,000 in 7.5 years. The first $100K is mostly your own money (73%), not gains. Getting there fast matters because compound interest takes over after that.

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Millionaire Math Part how long would it take you to get your first $100,000 investing? 10,000 per year 10,000 per year or $833 a month with an 8% rate of return that would take you seven and a half years to get to your first $100,000. But here's why your first $00,000 is the hardest because in this scenario, 73% of your first $100,000 or $73,000 came from your savings rate and only 27% came from your rate of return or your compound interest. Once you reach your first million, this would be completely flipped where 73% is going to come from your money working for you percent is going to come from your savings rate. This is why I say it's so incredibly powerful to try to get to your first $100,000 as fast as possible so that you can get compound interest working for you. Money's just math, my friend. Let's play this game together and follow me for more. And don't forget, the fastest path to wealth is earning more money, not just investing.