Eric Siu breaks down how people build their first $100k net worth. A study shows 80% comes from savings and 20% from investment returns, typically taking 6-7 years at $8,000-$10,000 saved annually. He recommends side gigs like DoorDash or Uber and reinvesting the extra income to accelerate growth.
How does someone get to $100K net worth ASAP? Typically, there was a study done on fourpillarblog.com. It actually showed that most people with their first $100K, it's not from investment returns, it's mostly from savings. So even at like, I don't know what the exact numbers are, but typically it's comprised of 80% savings and 20% are actually from investment returns. And the typical time it takes is about 6 to 7 years. And that's if you're saving like $8,000 to $10,000 a year. So if you want to get there as quickly as possible, increase your income, get side jobs, DoorDash, Uber, anything that you can get your hands on, flip stuff on Facebook Marketplace and put all that money towards your investments to grow that initial nest egg.
