After your first 100k what did you do?
Accumulating your initial $100k poses the greatest challenge, while surpassing that milestone to reach $1M and beyond becomes easier.
Do you agree with this?
How did you achieve your first $100k?
Financial Freedom be like:
Eventually, some investors may encounter a stage where their wealth generates substantial returns, making it unnecessary to continually add to their investments.
Instead, they might withdraw a small portion to sustain a comfortable lifestyle.
Has anyone arrived at the financial freedom stage in life?
Did you alter your investment approach after reaching $100k or $1M?
Can an annual return of 6% from the S&P500 or 15% from the Nasdaq suffice for retirement with $1M or less?
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Accumulating your initial $100k poses the greatest challenge, while surpassing that milestone to reach $1M and beyond becomes easier.
Do you agree with this?
yes and no... whilst being a saver helps to accumulate savings to the $100k, reaching $1 million takes time considering all the expenses that come along... that's life isn't it... investing may make one wealthy, yet, may also make one poorer... there's always risks in investing isn't it...
still the same rules... risk mgt, patience, invest in good established companies, etc... and there's always dreams isn't it... [Grin] [Grin] [Grin] people often say to dream big... so perhaps... off to dream land... $1 BILLION [USD] [USD] [USD] [Miser] [Miser] [Miser] [Sly] [Sly] [Sly] [Grin] [Grin] [Surprised] [Happy] [Happy] [Happy]
🌟🌟🌟：我记得当我收到我的第一个10k时的感觉和兴奋！这是一种巨大的满足感和成就感！然后是50k和100k的下一个基准测试。一步一步来，小的开始，小的积木。这就是实现目标的方式。这是一个缓慢但有益的过程。
我记得制定了一个预算，为开支、储蓄和投资设定了一个固定的数额。只要取得进展，进程有多慢并不重要。
下一个100万级，仍将是同样的过程，系统化，缓慢而稳定。实现我的火的最终目标——经济独立提前退休——需要一路上的耐心和毅力。生活毕竟是一次旅行，而不是目的地。
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There are a lot of people who actually achieve financial freedom in life, which will be my life target to persue without doubt. Personally, I think the investment approach will be different after reaching 100k or 1million. You are unable to focus on the high risk high return investments. Instead, you will focus more on the high return but low risk investment, that provides stability throughout the journey. The annual return of S&P or Nasdaq might be sufficient for retirement with 1M if the annual inflation rate is lower than this gain. How do you think? @rL @koolgal @icycrystal @b1uesky @Universe宇宙 @Aqa @GoodLife99
I was also given a strange look [Doubt]when i was at changi airport departing to Germany. You see i had just arrived back from shanghai at 8pm last night n now 10pm i m back to airport. I jokingly told the officer - . his eyes are not playing trick with him - indeed i was last at the airport last night.
That is especially hard to agree with.
When I started out on my first job, I was single and had no burdens.
That was back in 2001. Being a navigator doesn't make things any worse. I didn't have much chance to spend my salary when I'm spending most of my time onboard vessels.
After giving to my parents and for my own expenses, I saved at least 60% or more every month.
I started investing in 2007.
When I ended my 10 year contract in 2011, I was given a 10 months bonus. With that, I easily hit the 100k mark.
Fast forwards to 12 years later. I'm married, owns a HDB and with 3 kids in tow.
With all these commitments, I'm barely pulling through and only managing to save a few hundred a month at best.
With this current bad economy, my investment value suffered heavy paper losses.
$1m becomes easier? I'm still far from the halfway mark after all these years.
For the first $100k, I recommend a safe approach - i.e. put into fixed return financial products like fixed deposits or guaranteed return endowment plans, or stable shares like $Vanguard S&P 500 ETF(VOO)$ .
DO NOT risk your precious first $100k in highly volatile shares like $Tiger Brokers(TIGR)$ or meme stocks like $AMC Entertainment(AMC)$ $GameStop(GME)$ , unless you have couple of $100k to speculate with.
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You need to keep reinvesting to reach this 100k.
But if you continue to be patient and discipline, it will get easier when your capital growth consistently.
Do not panic sell, instead when the market overbought with too many good news, then it's about time to take some profit and wake for the next few dips and gather your cherry picks.
Most importantly to give back to the community when you make your profits as this keep the money flowing.
May the market be with you.