The significance of accumulating your first $100,000 cannot be underestimated when it comes to building long-term wealth. Saving your first $100k is an important personal milestone.
The late Charlie Munger, renowned investor and long-time partner of Warren Buffett, said this during a 1998 annual shareholder meeting of Berkshire Hathaway1Source: YouTube:
Liabilities, like debt, destroy your wealth. When you owe someone money, you don’t own the thing you bought until you pay off your entire debt. This chains you and prevents you from becoming financially free. It’s an even bigger liability when you go into debt […]
The transformative power of writing daily is something I can’t emphasize enough. Since I started writing every day, my life improved tremendously. The thing is, writing is a form of thinking. When you’re able to think well on paper, you become more self-aware and in […]
For ordinary folks like you and me, becoming financially stable can be summed up in a few words: Spend less, earn more. When you save and invest consistently, you gradually build up your wealth until you reach the point where you have a comfortable nest […]