After your first 100k what did you do?

Tiger_comments
2023-12-07
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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?

  • 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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After your first 100k what did you do?
How did you achieve your first $100k? What did you do after you achieve $100k? 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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Comments

  • icycrystal
    2023-12-08
    icycrystal
    good question...

    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]

  • koolgal
    2023-12-09
    koolgal

    🌟🌟🌟I remember the feeling and excitement when I received my first 10k!  It was a great feeling of satisfaction and accomplishment!  Then the next benchmark at 50k and then 100k.  Step by step, small beginnings, little building blocks.  That is how goals are achieved.  It is a slow process but a rewarding one.

    I remembered setting a budget, having a set amount for expenses, savings and investment.  It does not matter how slow the process is, as long as progress is made.

    The next level 1 million, will still be the same process, systematic, slow and steady.  Achieving my ultimate goal of FIRE - Financial Independence Retire Early - requires patience and perseverance along the way.  Life is after all a journey, not a destination.

    @Tiger_comments  @TigerStars  @MillionaireTiger  @TigerClub  @Tiger_SG

  • Shyon
    2023-12-11
    Shyon
    Thanks for the topic. Sadly that I haven't even achieve my first 100k SGD. [Cry] [Cry] [Cry] Hopefully I can achieve that in next 5 years, as my target.
    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
    • Universe宇宙ReplyShyon: 
      [Chuckle]
    • koolgalReplyShyon: 
      Let's do it together! 😍😍😍🍀🍀🍀🌈🌈🌈
    • ShyonReplyUniverse宇宙: 
      [Heart] [Heart] [Heart] [Like] [Like] [Like] [ShakeHands] [ShakeHands] [ShakeHands]
    • ShyonReplykoolgal: 
      Thanks for you encouragement, will work harder towards the goal [Heart] [Heart] [Heart]
    • koolgal: 
      Small beginnings lead to great endings 🍀🍀🍀🌈🌈🌈
  • DiAngel
    2023-12-08
    DiAngel
    I cant remember when i achieved that, but all i could recall was i had a regional job. Thus, i saved all my salary (min ~80%) as all expenses were paid by company. The travelling was so intensive that i lost track of my travelling schedule when one day, my parents asked me if i need to travel this weekend. I paused for a while before i could answer that question. [Shy]


    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.
    • koolgalReplyDiAngel: 
      Best of luck 🍀🍀🍀🌈🌈🌈
    • DiAngelReplykoolgal: 
      That’s true [love you]
    • koolgalReplyDiAngel: 
      Thanks for sharing your experience.  I also believe in the Singapore Market.  There is no withholding tax and no exchange rate loss.
    • DiAngel: 
      Thereafter, i started investing. Not a trader [Happy]. Trying to build a passive income from SG market. This year dividends has surpressed last year’s dividends. Not forgtting capital gains too. Others kept condemning SG market is a snail. To each its own - what work for me might not work for u
  • Furore
    2023-12-19
    Furore
    "Accumulating your initial $100k poses the greatest challenge, while surpassing that milestone to reach $1M and beyond becomes easier."
    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.
  • Mrzorro
    2023-12-12
    Mrzorro
    100K was my goal right now, although I am not young anymore [LOL]. Most of my friends have already achieved that and some even 1M. I am still in deep red in my investment, but I believe that if you set a goal for yourself, it is better than not doing anything. I might be the slowest to earn my 100k, but I believe I can do it my way. Money always will not be enough for anyone. Once you hit 100k, 1M will be your next target because human's desire is endless. I prefer work-life balanced, spending time with family, and doing some small business that may work out for me as my retirement plan. Money is important, but health is more important. I wish all the tigers could earn as much as they need, do what they want, and spend more time with their family and friends. Life is a journey and not about money, although no money, no honey  [Facepalm], but I wish that everyone can find their purpose in life and enjoy every moment of it! financial freedom or freedom life, the choice is on your hand.
    • koolgal: 
      Small beginnings lead to great endings.  Patience and time in the market are key to success.  Best of luck my friend 🍀🍀🍀🌈🌈🌈
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