The first $100,000 is the hardest to save and invest.
That much has always been understood by investors and the common folk alike.
Unless you were born with a silver spoon in your mouth, it is likely that you would not have amassed a net worth of $100,000 by the time you are 30.
Honestly speaking, if you are just starting out now on your journey to your first 100k, it’s going to be a lot tougher since most high-yield savings accounts now exist only in our memories.
As humans, it is only natural to increase your expenditures accordingly with every pay increment. But if we do that, we will always be living from paycheck to paycheck just to fuel our expenses. Remember, the goal is Financial Independence, Retire Early (FIRE).
Therefore, I intend to save and invest at least $500 every month if not more.
It’s definitely doable. In the future however, I plan to...