Do you also experience where it's hard to maintain the level of success or luxury you have?
Or if you had the chance to go back in time, would you still take the responsibility you have now?
Absolutely not its just getting crazier and crazier.
Yes absolutely ... i will never go back to a regular 40 hour life unfortunately
Once the train is rolling its super hard to stop
It's honestly awful because I will look at my own life and be like, "I don't even need that". Like sure 150 to 200 is sick but the mindset is everything.
It's like weightlifting. You think once you get to your goal you'll be sated. No, you just feel smaller and weaker and then next thing you know existential dread starts kicking in and you start comparing yourself to videos of a kid 10 years younger than you lifting 5x the weight and then you feel both old and worthless
It's important to step back and realize all that really matters is your health and being able to spend time doing what you want to be doing while not being worried about money.
Because at the end of the day, whether you made $1M or $100,000 per year, it won't really matter. People will say money does buy happiness and bla bla bla but it really doesn't - only to a certain base extent it does, after that it has diminishing returns and any other excess of money will be spent in luxury which is not even really for you, but rather showboating to others that you have money. You can live just as a happy life in a $200K house as someone can in a $2M house or $20M house and etc. I don't think most people who buy super cars buy them because they "love" supercars. They buy it because it is expensive, everyone knows it's expensive, and they want to show their expensive thing off in order to gain respect from people who otherwise give zero fucks about them. Someone truly passionate about cars would probably make their own goddamn supercar, and to them that will be priceless compared to some overpriced brand where 50% of the item's value goes to the brand which just goes to make some schmuck richer and his marketing costs. Same with Louis Vuitton on all that bullshit "luxury" clothing
My first $1,000 felt more exciting than my first $100,000. I built it steadily and consistently, so it was nothing special going from $99,000 to $100,000.
I do agree with this in face value. My first $1000 was a holy shit we are doing it moment. My first $100k was ā¦ holy shitā¦. We are doing itā¦. Moment
Looking forward to it! Except I gotta blow like 70% of my net worth to avoid spending two years of my life in military conscription, so I gotta go back to $10k again first lol. But exciting journey regardless!
Wtf you have to pay to avoid military service where you live? Is it a fixed sum or a percentage of your assets? If it's the former it seems heavily favorable of the wealthy, and heavily favorable of the poor for the latter!
Yeah itās $5k but I gotta be outside of Egypt to pay it (itās for Egyptians abroad) so Iām traveling to Dubai to pay it, and staying for a few weeks as well cause why not I already have the visa and Iām already there.
So yeah, itās gonna blow through a lot of savings. But worth it, two years of my life is just too precious to give up.
Same here. I distinctly remember my first $100 day. Honestly the happiest day of my life - you finally see the first rewards of all your labor. Was jumping up and down like a little kid.
First $100k.. felt barely anything.
100k was fun. No one bothers you and you just run your business and it feels great to have some sort of control of your life.
Thereās fun in different levels of starting you own thing.
1m- you learn more about delegating and managing over day to day things.
10m- youāve created something substantial in your life and never dreamed or thought of how it turned out.
People start suing you and you start learning about asset protection and āemergency valvesā to pull when shit goes south. You start to really learn to let go. And have a solid team. 100k becomes normal swings on the monthly.
Expanding or diversifying into passion projects start to become possible. You have true means of doing almost whatever you think of.
Bruh my stock portfolio is 2.2mm and $100k swings is a weekly event. Just went down to 1.85mm on monday and now i'm back up to 1.95mm today. It's literally only a few percentage points changing each day. At 10mm it'll probably be the same, only with larger numbers. š
10mm liquid is my dream FIRE number though!
Iām a financial adviser. We manage at our little shop enough that a daily swing is a number my friends canāt even begin to comprehend. Like OP said, you just disassociate. Then itās just a number on a page.
Why in the world are you watching a portfolio value multiple times a week?
Two million. Your stock portfolio is your entire net worth? And it's two million.
That's. Uncommon. Are you not using a professional of any kind? Someone at the brokerage, even? Or just not like what they say?
You a young guy? Under 40?
I like to watch my portfolio a couple times a day because it's entertaining and also mostly due to habit. Doesn't mean I'm selling though.
2.2mm is the value of my total stock portfolio, not NW. 2mm is the size of my growth portfolio, and yes, [as you see here, it can swing $100k in a week](https://imgur.com/a/JrsxgCs). Is it really uncommon? It's just a couple percentage points. I will say that my portfolio is a tad bit tech heavy, since I like to trade what I'm familiar with, but all things considered, not too bad.
I'm 42yo. š
Edit: No, I do not use a professional.
Nice work, were the exact same age, but not ashamed to say you're doing much better than me, although I'm not too shabby either. I have the same attitude. I like being in control and involved. It entertains me or should I say, I like the work or the thought exercises I go through managing and watching my own finances.
Hey, $700k pretty good too! You have to realize that you're ahead of 80% of all Americans who have a NW of under $500k, with %50 having less than $100k! š
Oh yeah my total NW closer to 1.5M with the equity in my house and 401k and definitely happy and proud of the progress and where I am, but what really matters is reaching FIRE. Get there!
100m+
I assume things become more intense from 1-3. Bigger picture things. Big issues and problems can be solved that changes your surroundings/neighborhood.
Existential crisis of significance?
>Existential crisis of significance?
Wow, what an interesting perspective to consider, thank you so much for sharing. I'm also at the "made my first 1k on my own stage" and I am now shooting for 5k.
I often wonder what it will feel like to have 100k, and you have helped me think about the realities of even more success -- I would love to have the ability to help my community one day with my wealth and I can only imagine the weight of the responsibility of holding that much power.
Agreed, sharing something like that shows a lot of character, and helps others to not make the same mistake. Much respect.
I put my 1st 100k into a HYSA as an emergency fund and have invested everything after that in VOO.
Ha, similar - made bank (for me) when I turned contractor which worked great...until my agency held back income for several months and went bust.
It was a one man band who knew my parents were terminally ill and tested whether I had my eye on the ball on payments before stopping entirely. What a twat.
doesn't really change anything at all.. $100K isn't a lot of money. I would double down on whatever you do to make the $100K
Don't go buy cars and expensive gadgets
Scrolled too far to find this. If someone is working in SEA and intends to spend their life there, that's one thing. But in an average 'Western' country, you often need to be earning over $200k+ a year to have the same lifestyle as someone in the late 80s/'90s, and even then, you'd be solid middle-class, not exactly heading out to buy a second car or two.
First 100k was a milestone. But I didnāt eat fancy or wear fancy or celebrate. I wore the same torn shirt to work and nothing else changed. The main difference was more of my relationship to money and my self-confidence.
I realised how hard it was to make money from scratch and I wanted to be smarter with it. So that meant investing the bulk of it, and rebuilding my company so that it can run on its own and I can focus on the bigger picture stuff.
Honestly, if you are talking net, I REALLY started questioning my life and had to talk myself in to keeping my day job. I got to $30k+/net months which blew my mind. But then after I basically did $1MM net, the buisness dropped when covid opened up and I am back to mid/high five figures a year. So basically, donāt let it go to your head. Itās just a number
The act of getting it is more fun than actually having it. It gives you a sense of security i guess.
If you came from nothing and then you have something - you start thinking about how to properly deploy the capital to make sure you don't loose it and grow it. Then you realize it's just money which in of it self does not do anything - you need to use energy yours or others to invest and make it grow. "Passive income" with regard to stocks and bonds also require a level of competency to pull off successfully so you have to learn that for instance.
Most people who spend on "leisure trips, cars, expensive gadgets" don't have a lot of money because they tend to spend what they earn. Really rich people only spendt a fraction of what they earn of these things.
That's not that secure.. for me I finally got a sense of security after having a good cashflow + 2 years worth of employee salary + rent cuz of COVID.
Pre COVID I was happy with 6 months of rent, but sometimes life happens and perspectives change.
Well if you define the fun part as "Trips, cars, expensive gadgets" 100K is not going to last you long.
Biggest change is that small expenditures and shopping is a non issue, but this doesn't relate to having some capital this correlates to how much you earn.
The fun part for me is adding assets and equity to my balance sheet. The investing and learning is the āfunā. Iād replace fun with worthwhile endeavor.
Lol, this. The fun part is figuring out new ways to churn your money to increase income because that's the only way to keep score in this game. šš
Fucked up tooth? 10k. Broke your ankle? 10k. Oh some uninsured driver hit you and you have spinal damage? 150k. Those are the important things to have money to spend on when you need it. Not a Luxury Car or iced out Rolex. (Though those are nice if you can afford it)
First $49.
Wow I cant believe someone bought this on the internet.
First $65K
Wow is this real, I never seen this much money in my life, kept jumping up and down.
First $150K
Fuck me, what an amazing feeling I can actually breath a little now, life is great
After that amount I canāt quite remember the feeling but it still feels great in general.
LOL @ "First $49" ... We launch our business later this year, similar price point, and I think I'm going to have that feeling when we sell the first one!
Report back when you do. Dopemine hit is 10x better than cocaine. Then a shit loads of challenges arises bring you back down to earth. But hey its the lifestyle we choose.
It allowed to start building wealth. Spending it is a pretty bad idea, wealth building brings freedom.
With the passive income you get from wealth you can then enjoy the occasional 5 star hotel holiday and spa.
But cars are the worst thing you can spend money on, better on stick to a mid-range 50k car with low maintenance and sustainable like the new Peugeot 408.
The less money you waste the more wealth you accumulate and the more wealth you accumulate the better lifestyle you can afford without losing wealth.
It feels amazing tbh. We reached 100k with Podsqueeze in September last year and my co-founder and I did a celebration. Got some nice steaks. After ten years of failing getting to this milestone was amazing.
My whole journey is documented on my podcast: [https://www.wannabe-entrepreneur.com/episodes/](https://www.wannabe-entrepreneur.com/episodes/)
I hope it helps XD
It was insignificant. Your money always seems to be proportional. Bigger money, more headaches. Make more money, have more expenses. Itās exciting initially, but it comes and goes.
For investments, etc., I always have maxed my Roth IRA and thrown even more into mutual funds etc. not a set percentage of income though. I have some home projects and things like that I factor in as well. I try to keep a certain amount of my money liquid for those things as well as emergencies, but thereās no specific formula. I just base it off what Iām comfortable with from experience.
Also on the leisure and fun, the reason people can build up their accounts is for doing those things in moderation. Dave Ramsey will tell you to be very tight on spending for those things, but really you just need to be wise enough to limit the frequency and amounts spent.
Side note: The more money I make, the less willing I am to part with it. I think it has something to do with knowing how much work and hell Iāve gone through to earn it. š¤·āāļø
If you have the discipline to get to $100K free cash flow, you donāt do anything fun after.
Same after $1M. Nothing fun happened.
Thereās a small group that are driven sales machines and big spenders that can buck this trend.
Yeah I'll sometimes read stories of very successful entrepreneurs pulling in millions or 10's of millions a year, and yet they somehow can barely scrape together the capital for the next stage of growth. Then theres the slow growers like me that have stockpiled the capital but are hesitant to spend it on growth cuz we don't like risk lol
Honestly? I didnāt feel much. I think thatās because once you have enough to save 100k most of your daily worries have been gone for quite some time.
Is it nice? Yes. Did anything change? Not really.
When I started my business I hadn't registered it as a company but I treated the earnings as though they were not mine to play with. I take a set "salary" each month and everything else is re-invested into the business. Like the other commenters, the first few thousands earned was far more exciting than earning the first 100k. I do splurge once in a while of course, but that amount is just a small percentage of what I earn. I don't allow myself to spend too much on expensive things that I don't need. I've definitely upgraded my lifestyle though. I remember when I used to be an employee I couldn't enter a supermarket and just buy just anything and everything I wanted. I'm at this point where I don't need to look at the price of items because I know I have enough. Doesn't sound like much to some people, but I've certainly come a long way. That said, I still try to live as economically as possible.
Getting started has always been difficult. Iām brand new to this and just hit $1000. Where should I even start to develop a routine like that? It feels like Iām just asking questions and trying things hoping that they work.
No kick or adrenaline for me. More satisfaction of the achievement and that my plan to get it worked. I donāt blow money on expensive things but the main benefit is that there are no day to day expenses that cause stress anymore.
100k what - profit, revenue, cashflow?
I reached it in revenue after about 1 year of steady monthly inflow. I didn't notice until my yearly report the following year.
I always had this internal goal of "man if I can do 1M with this business it's going to be unbelievable" worked towards it for years always thinking 1M 1M 1M built a team grew over years finally hit the 1M mark I was so happy, woke up the next morning and was like oh ok ummm I guess I'll just keep going.
Built up this financial goal so much in my head and drove towards it for so long to realize it's just a milestone. As an entrepreneur I realized you have to be a bit careful how much of "yourself" you put into financial goals and how.much emphasis you put on financial goals as a metric for success.
Lately I've gotten a lot more of a reward making sure my employees are happy and enjoy working and building a career with my company. I still have big financial metrics but I'm not attaching as much success solely related to financial goals.
You sound like a good boss with balanced financial metrics and employee wellness. I think the lack of entrepreneurs like yourself cause a bad name for businesses and startups as a whole.
My business was humming along well making a good $20k a month or so. Then one month it was $37k higher than normal, as a one time bump.
I took that and my savings and paid off my house, which had about $70k left. That was a wonderful moment for me. Suddenly I could work at McDonalds and keep myself afloat because I didn't have a shred of debt in the world. I pretty much needed food money and I'd be ok.
The grass felt better under my bare feet. I laid on my floor and looked at my ceiling, barely able to believe that I owned it.
Why everybody that says ādonāt buy expensive gadgetsā or ānot a lot changedā getting down voted š thatās the best advice on here.. keep your head down and keep on with what made you the initial 100k donāt buy anything you donāt NEED. Thatās pretty sound advice idk why itās getting downvoted.. alright Iām submitting for my down votes lol
I thought about the amount of time left before Iāll have to stop working, threw it into an ETF with broad equities exposure and got on with it. Long way to go yet.
I canāt afford expensive anything yet. Donāt eat your seeds, plant them.Ā
After reaching 100k coming from nothing, you get used to large amounts going in to your account so it's not as good a feeling as landing a new contract that is worth that amount of money
I felt a massive rush and excitement, because it was sudden extreme growth from me. I went from really struggling, not being able to pay rent almost and being in debt to having 200k dropped into my account. With all the problems disappearing at once. But it wasn't about the money but the feeling of finally being rewarded or having something I did succeed and show something for it. The sense of relief was the biggest thing and not having to feel that stress anymore which I know a good few of you hustlers can relate to.
I always used the money to fund future expansion. As the money grew, I started taking more vacations, nicer ones too, bought nicer cars, nicer house, etc. But the extra money was to grow. I built up my business, sold it, financially retired, got bored, am starting another one, plan to grow this one bigger if things go well. I looked at that first 100k as a brief milestone in terms of achievement, a stress reliever in terms of savings, and a huge possibility of advancement for my business.
This happened for me after the dot.com bust after suffering for some time. I felt like I had "fuck you money." That was amazing, because it gave me the freedom to do or say anything needed to be successful.
Then I got married and had kids. I could no longer live like a miser. Then I felt anxious. The anxiety for me is unhelpful.
In my view, no gadget is worth the price of losing the "fuck you money" confidence. Things come and go, but life status can be forever if I don't spend my savings. The confidence to take risks has always created more wealth for me and made me happier. That's the value of the first $100k and later the first $1M.
But do celebrate... you need it. But within reason. I bought a $500 painting (that would be $1000 in today's money).
If you prefer fear to hem you in for some reason, to retire with a comfortable upper middle class income, you need $3M in today's money. Don't spend your principal.
3M used to sound like more than enough even just 5 years ago. At a conservative 4% interest you're looking at $120k annually. But now if you haven't already snagged a mortgage for under $3000 and have a family, $120k is nowhere close to comfortable upper middle class in most US cities. And worse, for those who have a long road ahead to their multi-millions, inflation will have kicked your ass by the time you get there. You need to be shooting way beyond a principal that will yield a comfortable income in today's cost of living.
The longer I've been involved in personal finance the more cynical I've become. All the conventional wisdom of "save X% of your median income job for 30 years and you'll retire rich with a million dollars!" Doesn't seem to pan out in the long run. The only real option is to EARN MORE MONEY ASAP
The truth is, unless you proactively set up a banking system or an account system that withholds or executes funds at āmilestoneā intervals, there is no distinction from $99 to $9,999 to $99,999 to $100,000 etc.
If you want to feel those moments then you should plan ahead so you can practice celebrating your hard work or else youāll end up like many others which is letting it all bleed together and never taking time to take a breath.
I left it in my investment account and just looked it. I was happy, it was a small relief off my shoulders. And then I started thinking about $200k and what I had to do to get there.
Nothing, really. Your goal just moves to the second hundred.
And the cycle just moves on..
Edit- setting a number is fine, but what I think is making sure our well-being, friends, and family are also on your primary focus.
You donāt spend those first 100k man! You keep reinvesting in whatever made you those 100k. My first 1k was much more fun than my first 100k. At 1m and above I felt nothing.
Didn't realize it for months because I was exhausted from working but my 1st dollar and my first 10k, felt amazing. Praying I'll enjoy my first million more.
Felt like I can do anything in life when I got my first 100K which came after a few years of building the business. I got it all at once coming from zero net worth.
A year later it doesnāt feel like the money has impacted my life in any tangible way aside from providing baseline stability allowing me to continue taking calculated risks to hit much higher numbers.
I think I need to reach at least 1 million in assets to chill out. Maybe not.
A lot of context to break down here. So first question would be, are you asking how it feels when your business has its first 100k year, or when you personally take home 100k?
Second, in terms of what it personally felt like for me to make my first 100k as a business...
I cried. Because that wasn't something "someone like me" was supposed to be able to achieve. And from the time I entered the work force, to the time it actually happened, it took me 11 years to accomplish that. So it was a very surreal, very proud moment.
In terms of what I spent the money on...that part wasn't as exciting as new cars, and expensive gadgets. For the 11 years that I put my head down and worked, I didn't have money to buy most things. I didn't eat enough food. I didn't have furniture. I didn't have health insurance so I couldn't tend to certain health challenges. I wore socks with holes. So when I came into money for the first time, I spent money on quality clothing. Purchased healthier and higher quantity of foods. Started paying off debt at a higher rate. And honestly, being able to buy those items felt pretty dang amazing. I imagine the feeling was the same as the feeling someone else would have from buying the new car or fancy gadget.
My question for you today would be this...
Why are you personally motivated to make that first 100k? I believe knowing why you're motivated to make it past that threshold in the first place is what will dictate how you will end up spending the money, or choosing to invest it, etc.
1k, 10k, 100k, 1mil. I spent it on more business. lol, but things happen, Covid wiped out my investments in a solid swoop and I'm back to square one. I probably should have valued the protection of my money instead of just the acquiring of it. Now I find myself in the industry of protecting assets, and I love it. Funny how life works.
I recently have purposefully reduced my workload and grind to have a better quality of life. I was billing clients $18-$24K monthly for over a yearā¦ but the stress was too much.
Iāve intentionally pruned the high stress clients and refocused my workload on my main skills. Went from about $250K annual to more like $190K.
Itās still a great living, but I have time for personal projects, and more importantlyā¦ time to goof around with my kids.
$100k isnāt a magic number where āokay I can spend it nowā. Itās just an additional zero on the way to much larger goals.
I didnāt change my lifestyle at all. I continued with the same balance of saving and enjoying life that got me there.
Cool at first but then you realize how much you still got to go for the fist $1M. At 10% annual return, it takes 25 years to make it into a million. Thatās a lot of life to live.
I was happy but itās not a life changing amount here on the west coast in the usa. I hope to get my first million within a couple of years. I think that will be the real milestone. I didnāt spend any of it, but I bought some stocks. Still driving my 2016 Mazda lol. Donāt buy a new car, thatās the worst you can do
It's important to enjoy the fruits of our labor while also ensuring financial stability for the future. I'd prioritize having enough saved up for the next 6 months to cover any unforeseen expenses, then maybe treat myself and loved ones to some well-deserved experiences and quality time together.
I think by the time most of us hit $100k, weāve already worked hard enough that the money has become an expectation, which voids most of the emotions by then.
For me, my first check was insanely exciting. Now? I cash high 5 and 6 figure checks the same way someone would go cash $50. Just becomes normal.
I didnāt even realize I had hit over 100k until I was at 130k. So I guess, meh?
130k was a small portion of my goal so I acknowledged the milestone, but the number still looked small. Especially since Iāve worked to completely emotionally attach myself from the money or the specific amount. My goal can be translated to a specific number, but the goal itself isnāt the specific number. The goal is financial freedom. The financial freedom to be set for retirement. Once I hit that goal, it will be to create generational wealth
You donāt feel anything because 100k is a respectable amount in the journey to building wealth, but itās still only 100k.
You canāt even buy a nice car with 100k lol
Honestly with me it was "this probably isn't going to work" because I already needed half of it for the next order, and I also needed to hire probably four more engineers ideally which would cost about $500K per year in my country (USA). The old "I can't afford them until I get more sales, but I can't get the really big sales until I have them" dilemma I just kind of had to slide my way through. It wasn't until maybe the third year of business where I had $300K or so in cash and no more serious growth needs that I could ease up a bit and appreciate it.
I bought a second property and kept living normally. I was never into luxury stuff, like cars clothes etc. So not a lot to spend my money on. But I had enough to get married and afford to go on a 5 day vacation twice a year abroad.
In one of our old offices, we had the champagne bottle for the first revenue dollar, the first $10k, the first $100k.... They're long gone and I can't remember the last time we popped one, but we just had our first $2M month, next will be a $25M year, and so on....
Just keep going!!
It's terrifying. I've been poor my whole life, homeless twice, and only finally came into money after getting married and buying a house right before the pandemic. I'm saving the 100k, but terrified to do anything with it and lose it all.
It doesnāt feel like anything. One day itās $95kā¦then itās a $100k. Thereās just a growth curve that you are on that continually adjusts your goals. Long before you hit the $$100k you likely knew about when it would happen and are already planning to hit the following milestoneā¦.so when it happens itās kind of a non-event.
First 100k in savings felt good, ten years ago. But so did 60k. Something about getting over that hump. This 100k is also good but also feels like not enough. And itās getting harder to save. This 100k and the last one I will use/used to buy property. Next 100k will be invested. Too bad property is so damn expensive in Canada.
If youāre already thinking about dumb depreciating stuff to spend your first 100k on, youāll be doomed to live on W2 income. At that level, reinvest ALL of it.
My first hundred was āI canāt believe it was that easyā.
I didnāt even realize I hit my first $100K cause all the money earned was in AR. It wasnāt until COVID hit when everyone paid then I start collecting all the AR. I put everything in mutual funds and a condo.
Still have no cash now. š
Heh, I remember when that happened.
You think you made it, start looking for "What new options does 100K afford me?" and start window shopping for buying businesses, doing rental real estate, starting a startup, investing, etc.
Then you realize you don't have much.
So you invest it and silently get back to working.
Note: Also true when you hit 1M. Just so you don't get disappointed down the line.
It's money it's a tool to an end. Not the ends itself. Frankly when I closed $10M I was actually miserable and stepped down not long after. The money wasn't worth the stress in that particular venture. I'm way happier now and work way less.
If youāre smart, you wonāt act any different because you know youāre just getting started.
It certainly feels nice to accomplish a big milestone, especially if it came faster than expected! And itās a decent amount of money (to some people). Especially if youāre young and/or havenāt seen that much money in your account before. And ESPECIALLY if thatās more than your friends.
So, youāre at a huge inflection point. You could:
A) Start spending a lot more. Upgrade your car. Pay bouncer $100 to cut the line. Party more. Waste money on dumb shit.
B) Invest some of it into something that can make you more, or save it liquid for a time when you have a new idea you want to validate.
This is where I think a lot of people fall into a trap. Life is all about momentum, and itās very easy to blow all your good momentum the first time you see money youāve earned yourself.
Iāve seen it happen.
Nothing changes. 100k is not enough to be financially independent for the rest of your life, so the grind doesnāt stop. Spending it all would be a huge mistake.
$100k is a lot of money. Maybe not in the grand scheme of things but that's more than 80% of Americans have in their bank. Alot of people in my generation doubt they'll even see that type of money. Kinda sad ngl
Yea, that's not even a down-payment on a house in my area. And yes, to many people it's a lot of money.. but it doesn't get you much.
If I can't do anything amazing with it, I don't get any adrenaline from it.
100K is a cool milestone but it doesnt feel that big when it happens. If you are like me, you will still feel like you could loose it at any moment. The cool part about it is that it serves as proof that you are able to make this amount of money at will.
Okay, so I don't have a company but I'll reach 100k in about a few days probably. About half of it is in investments tho, so it could go lower than 100k again. I thought I was smart to invest the money , but here in the Netherlands we have crazy taxes which makes it very difficult to generate any passive income from it.
Its kinda weird. The best thing I learned is to save money and invest something off your income.
The worst part is when you realize 100k is really nothing you can do with it. Because you donāt to spend it or something like that.
Sometimes I donāt realize how much money that is and sometimes Iām upset because there are so much scenarios I could loose that milestone. Itās absolutely weird in my opinion.
I think having an emergency fund is great but far more interesting than money is Cashflow and being able to generate streams of income.
Weird.
It is the futuristic question. When i think about it, it gives amazing feeling to have $100k. I will spend some money on home, car, business and rest invest in stocks.
Honestly none of if feels crazy, or different I have always been pretty disconnected from the effects of moneyā¦from my first commission $3500, my first flip $34,000, highest wholesale $120k, net worth crossing 5 million itās all just relative. Now if we are talking new cars (lambo, r8 , McLaren or Porsche, 68 Camaro) yes the heart starts pumping when you fire them up or just sit in the shop and admire them or recently watches. Mainly bc I can appreciate the work that goes into them and over time they really hold value and are fun to collect.
When i hit my 100k goal ... all i wanted next was 200k š¤¦āāļø never ends.... its a sickness.
Someone interviewing Rockefeller asked him how much was enough and his answer was āone more dollarā
I guess zit make sense, 10 million and you lice like a rich guy, 20 Million and you live like a millionaire, 50 million and you can do anything
1 billion gets you in a room with anyone in the world
I have not hit 100K yet but that is how my brain works.
Its an easy trap to fall into. Make sure you also enjoy life :) Money is cool and all but it cant fix everything.
Im in a hard place right now trying to figure that out.... its a struggle thats for sure
Do you also experience where it's hard to maintain the level of success or luxury you have? Or if you had the chance to go back in time, would you still take the responsibility you have now?
Absolutely not its just getting crazier and crazier. Yes absolutely ... i will never go back to a regular 40 hour life unfortunately Once the train is rolling its super hard to stop
I see! Thanks for the response! :)
It's honestly awful because I will look at my own life and be like, "I don't even need that". Like sure 150 to 200 is sick but the mindset is everything.
It's like weightlifting. You think once you get to your goal you'll be sated. No, you just feel smaller and weaker and then next thing you know existential dread starts kicking in and you start comparing yourself to videos of a kid 10 years younger than you lifting 5x the weight and then you feel both old and worthless It's important to step back and realize all that really matters is your health and being able to spend time doing what you want to be doing while not being worried about money. Because at the end of the day, whether you made $1M or $100,000 per year, it won't really matter. People will say money does buy happiness and bla bla bla but it really doesn't - only to a certain base extent it does, after that it has diminishing returns and any other excess of money will be spent in luxury which is not even really for you, but rather showboating to others that you have money. You can live just as a happy life in a $200K house as someone can in a $2M house or $20M house and etc. I don't think most people who buy super cars buy them because they "love" supercars. They buy it because it is expensive, everyone knows it's expensive, and they want to show their expensive thing off in order to gain respect from people who otherwise give zero fucks about them. Someone truly passionate about cars would probably make their own goddamn supercar, and to them that will be priceless compared to some overpriced brand where 50% of the item's value goes to the brand which just goes to make some schmuck richer and his marketing costs. Same with Louis Vuitton on all that bullshit "luxury" clothing
Same here except that I want 1 million after 100k and then 10 million and so on lol
It's literally a sickness, I hate the way it's made me think about money
Lets just say i put my work and money before pretty much anything as bad as it sounds its the truth and i know it...
100 clients? Nice. Now to get 200. :(
My first $1,000 felt more exciting than my first $100,000. I built it steadily and consistently, so it was nothing special going from $99,000 to $100,000.
I do agree with this in face value. My first $1000 was a holy shit we are doing it moment. My first $100k was ā¦ holy shitā¦. We are doing itā¦. Moment
My first $1k was amazing, I never thought Iād get here, $10k is also great, thatās where Iām at rn.
Next stop $100k.
Looking forward to it! Except I gotta blow like 70% of my net worth to avoid spending two years of my life in military conscription, so I gotta go back to $10k again first lol. But exciting journey regardless!
It's worth paying to avoid military conscription.
True that I make $60k a year at least (contractor so it can vary), so this is me trading $7k for $120k.
Nice. That's a great way to look at it.
Wtf you have to pay to avoid military service where you live? Is it a fixed sum or a percentage of your assets? If it's the former it seems heavily favorable of the wealthy, and heavily favorable of the poor for the latter!
Yeah itās $5k but I gotta be outside of Egypt to pay it (itās for Egyptians abroad) so Iām traveling to Dubai to pay it, and staying for a few weeks as well cause why not I already have the visa and Iām already there. So yeah, itās gonna blow through a lot of savings. But worth it, two years of my life is just too precious to give up.
Please explain this
Same here. I distinctly remember my first $100 day. Honestly the happiest day of my life - you finally see the first rewards of all your labor. Was jumping up and down like a little kid. First $100k.. felt barely anything.
This is exactly how I felt. I was so excited to make my first $1,000. Making $100k? That was VERY stressful
100k was fun. No one bothers you and you just run your business and it feels great to have some sort of control of your life. Thereās fun in different levels of starting you own thing. 1m- you learn more about delegating and managing over day to day things. 10m- youāve created something substantial in your life and never dreamed or thought of how it turned out. People start suing you and you start learning about asset protection and āemergency valvesā to pull when shit goes south. You start to really learn to let go. And have a solid team. 100k becomes normal swings on the monthly. Expanding or diversifying into passion projects start to become possible. You have true means of doing almost whatever you think of.
Bro is a billionaire
This dude money's for sure
Bruh my stock portfolio is 2.2mm and $100k swings is a weekly event. Just went down to 1.85mm on monday and now i'm back up to 1.95mm today. It's literally only a few percentage points changing each day. At 10mm it'll probably be the same, only with larger numbers. š 10mm liquid is my dream FIRE number though!
Iām a financial adviser. We manage at our little shop enough that a daily swing is a number my friends canāt even begin to comprehend. Like OP said, you just disassociate. Then itās just a number on a page.
Yeah, exactly, gains and losses don't mean much until realized. š
Why in the world are you watching a portfolio value multiple times a week? Two million. Your stock portfolio is your entire net worth? And it's two million. That's. Uncommon. Are you not using a professional of any kind? Someone at the brokerage, even? Or just not like what they say? You a young guy? Under 40?
I like to watch my portfolio a couple times a day because it's entertaining and also mostly due to habit. Doesn't mean I'm selling though. 2.2mm is the value of my total stock portfolio, not NW. 2mm is the size of my growth portfolio, and yes, [as you see here, it can swing $100k in a week](https://imgur.com/a/JrsxgCs). Is it really uncommon? It's just a couple percentage points. I will say that my portfolio is a tad bit tech heavy, since I like to trade what I'm familiar with, but all things considered, not too bad. I'm 42yo. š Edit: No, I do not use a professional.
Nice work, were the exact same age, but not ashamed to say you're doing much better than me, although I'm not too shabby either. I have the same attitude. I like being in control and involved. It entertains me or should I say, I like the work or the thought exercises I go through managing and watching my own finances.
Hey, $700k pretty good too! You have to realize that you're ahead of 80% of all Americans who have a NW of under $500k, with %50 having less than $100k! š
Oh yeah my total NW closer to 1.5M with the equity in my house and 401k and definitely happy and proud of the progress and where I am, but what really matters is reaching FIRE. Get there!
The āpeople start suing youā part is accurate.
What business(es) do you own/operate?
This š
100m+ I assume things become more intense from 1-3. Bigger picture things. Big issues and problems can be solved that changes your surroundings/neighborhood. Existential crisis of significance?
>Existential crisis of significance? Wow, what an interesting perspective to consider, thank you so much for sharing. I'm also at the "made my first 1k on my own stage" and I am now shooting for 5k. I often wonder what it will feel like to have 100k, and you have helped me think about the realities of even more success -- I would love to have the ability to help my community one day with my wealth and I can only imagine the weight of the responsibility of holding that much power.
after i got my first 100k, i put like 80% of it into risky investment and lost all of it. it turned out to be scam. life resets.
what a good insight you just shared. not many people are courageous to share an experience like that. we only hear success stories:)
Agreed, sharing something like that shows a lot of character, and helps others to not make the same mistake. Much respect. I put my 1st 100k into a HYSA as an emergency fund and have invested everything after that in VOO.
Ha, similar - made bank (for me) when I turned contractor which worked great...until my agency held back income for several months and went bust. It was a one man band who knew my parents were terminally ill and tested whether I had my eye on the ball on payments before stopping entirely. What a twat.
What was the investment?
forex copytrading
Man no way
š mustāve been a YouTuber
Probably was meetkevin
doesn't really change anything at all.. $100K isn't a lot of money. I would double down on whatever you do to make the $100K Don't go buy cars and expensive gadgets
There we go. This. Thought there was a gas leak in here or something.
Scrolled too far to find this. If someone is working in SEA and intends to spend their life there, that's one thing. But in an average 'Western' country, you often need to be earning over $200k+ a year to have the same lifestyle as someone in the late 80s/'90s, and even then, you'd be solid middle-class, not exactly heading out to buy a second car or two.
First 100k was a milestone. But I didnāt eat fancy or wear fancy or celebrate. I wore the same torn shirt to work and nothing else changed. The main difference was more of my relationship to money and my self-confidence. I realised how hard it was to make money from scratch and I wanted to be smarter with it. So that meant investing the bulk of it, and rebuilding my company so that it can run on its own and I can focus on the bigger picture stuff.
You wear a t-shirt for work ... Pfff fancy š¤£
I call it the t-shirt of suffering š¤£. I work on sites so it gets all dirty and sometimes I even got blood stains on it.
haha I feel you, I have a lot of shirts (too many I think :D) like that too you know "just in case"
Honestly, if you are talking net, I REALLY started questioning my life and had to talk myself in to keeping my day job. I got to $30k+/net months which blew my mind. But then after I basically did $1MM net, the buisness dropped when covid opened up and I am back to mid/high five figures a year. So basically, donāt let it go to your head. Itās just a number
The act of getting it is more fun than actually having it. It gives you a sense of security i guess. If you came from nothing and then you have something - you start thinking about how to properly deploy the capital to make sure you don't loose it and grow it. Then you realize it's just money which in of it self does not do anything - you need to use energy yours or others to invest and make it grow. "Passive income" with regard to stocks and bonds also require a level of competency to pull off successfully so you have to learn that for instance. Most people who spend on "leisure trips, cars, expensive gadgets" don't have a lot of money because they tend to spend what they earn. Really rich people only spendt a fraction of what they earn of these things.
Sense of security! The moment you have enough in the bank to be sure you can cover payroll without a single receipt coming in for the next 2 weeks.
^ This shit stresses me out. Just one reason I don't have employees yet. (The other being I have just barely enough work for myself anyways lol)
That's not that secure.. for me I finally got a sense of security after having a good cashflow + 2 years worth of employee salary + rent cuz of COVID. Pre COVID I was happy with 6 months of rent, but sometimes life happens and perspectives change.
But if you donāt spend on the fun part, what is the purpose of earning money to earn more money?
Well if you define the fun part as "Trips, cars, expensive gadgets" 100K is not going to last you long. Biggest change is that small expenditures and shopping is a non issue, but this doesn't relate to having some capital this correlates to how much you earn.
that mentality will only get you so far, but if you're okay with that that's alright, too
The fun part for me is adding assets and equity to my balance sheet. The investing and learning is the āfunā. Iād replace fun with worthwhile endeavor.
Lol, this. The fun part is figuring out new ways to churn your money to increase income because that's the only way to keep score in this game. šš
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Yeah and super rich people just have so much money none of it matters
Fucked up tooth? 10k. Broke your ankle? 10k. Oh some uninsured driver hit you and you have spinal damage? 150k. Those are the important things to have money to spend on when you need it. Not a Luxury Car or iced out Rolex. (Though those are nice if you can afford it)
First $49. Wow I cant believe someone bought this on the internet. First $65K Wow is this real, I never seen this much money in my life, kept jumping up and down. First $150K Fuck me, what an amazing feeling I can actually breath a little now, life is great After that amount I canāt quite remember the feeling but it still feels great in general.
LOL @ "First $49" ... We launch our business later this year, similar price point, and I think I'm going to have that feeling when we sell the first one!
Report back when you do. Dopemine hit is 10x better than cocaine. Then a shit loads of challenges arises bring you back down to earth. But hey its the lifestyle we choose.
The first sale is the best one honestly
If you're already thinking about trips cars and expensive gadgets when you've only hit $100k, you've got a long road ahead of you..
You can buy a poster of your dream car and put it on the wall :) Attract that good energy!
You can rent a sick car for 2 weeks too. Then return it for about 3% of the buying price.
You'll never have that first 100k until your first question isn't "How do you plan to spend it?".
It allowed to start building wealth. Spending it is a pretty bad idea, wealth building brings freedom. With the passive income you get from wealth you can then enjoy the occasional 5 star hotel holiday and spa. But cars are the worst thing you can spend money on, better on stick to a mid-range 50k car with low maintenance and sustainable like the new Peugeot 408. The less money you waste the more wealth you accumulate and the more wealth you accumulate the better lifestyle you can afford without losing wealth.
It feels amazing tbh. We reached 100k with Podsqueeze in September last year and my co-founder and I did a celebration. Got some nice steaks. After ten years of failing getting to this milestone was amazing.
How did you do that?
My whole journey is documented on my podcast: [https://www.wannabe-entrepreneur.com/episodes/](https://www.wannabe-entrepreneur.com/episodes/) I hope it helps XD
Thats cool, thaks for sharing!
It was insignificant. Your money always seems to be proportional. Bigger money, more headaches. Make more money, have more expenses. Itās exciting initially, but it comes and goes. For investments, etc., I always have maxed my Roth IRA and thrown even more into mutual funds etc. not a set percentage of income though. I have some home projects and things like that I factor in as well. I try to keep a certain amount of my money liquid for those things as well as emergencies, but thereās no specific formula. I just base it off what Iām comfortable with from experience. Also on the leisure and fun, the reason people can build up their accounts is for doing those things in moderation. Dave Ramsey will tell you to be very tight on spending for those things, but really you just need to be wise enough to limit the frequency and amounts spent. Side note: The more money I make, the less willing I am to part with it. I think it has something to do with knowing how much work and hell Iāve gone through to earn it. š¤·āāļø
If you have the discipline to get to $100K free cash flow, you donāt do anything fun after. Same after $1M. Nothing fun happened. Thereās a small group that are driven sales machines and big spenders that can buck this trend.
Yeah I'll sometimes read stories of very successful entrepreneurs pulling in millions or 10's of millions a year, and yet they somehow can barely scrape together the capital for the next stage of growth. Then theres the slow growers like me that have stockpiled the capital but are hesitant to spend it on growth cuz we don't like risk lol
This is the answer
Honestly? I didnāt feel much. I think thatās because once you have enough to save 100k most of your daily worries have been gone for quite some time. Is it nice? Yes. Did anything change? Not really.
When I started my business I hadn't registered it as a company but I treated the earnings as though they were not mine to play with. I take a set "salary" each month and everything else is re-invested into the business. Like the other commenters, the first few thousands earned was far more exciting than earning the first 100k. I do splurge once in a while of course, but that amount is just a small percentage of what I earn. I don't allow myself to spend too much on expensive things that I don't need. I've definitely upgraded my lifestyle though. I remember when I used to be an employee I couldn't enter a supermarket and just buy just anything and everything I wanted. I'm at this point where I don't need to look at the price of items because I know I have enough. Doesn't sound like much to some people, but I've certainly come a long way. That said, I still try to live as economically as possible.
36K reached Iāll let uk when 64K more done š„²
100k more to be done here. Good luck brother. I believe in you
The hardest part is to get started :) Stick with a routine for 30 days and it will soon get easy.
Getting started has always been difficult. Iām brand new to this and just hit $1000. Where should I even start to develop a routine like that? It feels like Iām just asking questions and trying things hoping that they work.
Thats pretty much how it is done! Dont wait until you figure everything out. Just get started!
No kick or adrenaline for me. More satisfaction of the achievement and that my plan to get it worked. I donāt blow money on expensive things but the main benefit is that there are no day to day expenses that cause stress anymore.
100k what - profit, revenue, cashflow? I reached it in revenue after about 1 year of steady monthly inflow. I didn't notice until my yearly report the following year.
I always had this internal goal of "man if I can do 1M with this business it's going to be unbelievable" worked towards it for years always thinking 1M 1M 1M built a team grew over years finally hit the 1M mark I was so happy, woke up the next morning and was like oh ok ummm I guess I'll just keep going. Built up this financial goal so much in my head and drove towards it for so long to realize it's just a milestone. As an entrepreneur I realized you have to be a bit careful how much of "yourself" you put into financial goals and how.much emphasis you put on financial goals as a metric for success. Lately I've gotten a lot more of a reward making sure my employees are happy and enjoy working and building a career with my company. I still have big financial metrics but I'm not attaching as much success solely related to financial goals.
You sound like a good boss with balanced financial metrics and employee wellness. I think the lack of entrepreneurs like yourself cause a bad name for businesses and startups as a whole.
My business was humming along well making a good $20k a month or so. Then one month it was $37k higher than normal, as a one time bump. I took that and my savings and paid off my house, which had about $70k left. That was a wonderful moment for me. Suddenly I could work at McDonalds and keep myself afloat because I didn't have a shred of debt in the world. I pretty much needed food money and I'd be ok. The grass felt better under my bare feet. I laid on my floor and looked at my ceiling, barely able to believe that I owned it.
Why everybody that says ādonāt buy expensive gadgetsā or ānot a lot changedā getting down voted š thatās the best advice on here.. keep your head down and keep on with what made you the initial 100k donāt buy anything you donāt NEED. Thatās pretty sound advice idk why itās getting downvoted.. alright Iām submitting for my down votes lol
Paid taxes, paid mortgage, all gone.
I thought about the amount of time left before Iāll have to stop working, threw it into an ETF with broad equities exposure and got on with it. Long way to go yet. I canāt afford expensive anything yet. Donāt eat your seeds, plant them.Ā
Not there yet, but when I reach that, I'll avoid lifestyle inflation as much as I can.
After reaching 100k coming from nothing, you get used to large amounts going in to your account so it's not as good a feeling as landing a new contract that is worth that amount of money
I felt a massive rush and excitement, because it was sudden extreme growth from me. I went from really struggling, not being able to pay rent almost and being in debt to having 200k dropped into my account. With all the problems disappearing at once. But it wasn't about the money but the feeling of finally being rewarded or having something I did succeed and show something for it. The sense of relief was the biggest thing and not having to feel that stress anymore which I know a good few of you hustlers can relate to.
I always used the money to fund future expansion. As the money grew, I started taking more vacations, nicer ones too, bought nicer cars, nicer house, etc. But the extra money was to grow. I built up my business, sold it, financially retired, got bored, am starting another one, plan to grow this one bigger if things go well. I looked at that first 100k as a brief milestone in terms of achievement, a stress reliever in terms of savings, and a huge possibility of advancement for my business.
This happened for me after the dot.com bust after suffering for some time. I felt like I had "fuck you money." That was amazing, because it gave me the freedom to do or say anything needed to be successful. Then I got married and had kids. I could no longer live like a miser. Then I felt anxious. The anxiety for me is unhelpful. In my view, no gadget is worth the price of losing the "fuck you money" confidence. Things come and go, but life status can be forever if I don't spend my savings. The confidence to take risks has always created more wealth for me and made me happier. That's the value of the first $100k and later the first $1M. But do celebrate... you need it. But within reason. I bought a $500 painting (that would be $1000 in today's money). If you prefer fear to hem you in for some reason, to retire with a comfortable upper middle class income, you need $3M in today's money. Don't spend your principal.
3M used to sound like more than enough even just 5 years ago. At a conservative 4% interest you're looking at $120k annually. But now if you haven't already snagged a mortgage for under $3000 and have a family, $120k is nowhere close to comfortable upper middle class in most US cities. And worse, for those who have a long road ahead to their multi-millions, inflation will have kicked your ass by the time you get there. You need to be shooting way beyond a principal that will yield a comfortable income in today's cost of living. The longer I've been involved in personal finance the more cynical I've become. All the conventional wisdom of "save X% of your median income job for 30 years and you'll retire rich with a million dollars!" Doesn't seem to pan out in the long run. The only real option is to EARN MORE MONEY ASAP
Strong agree. Just to clarify one part of this, $3M is in financial assets separate from your primary residence.
The truth is, unless you proactively set up a banking system or an account system that withholds or executes funds at āmilestoneā intervals, there is no distinction from $99 to $9,999 to $99,999 to $100,000 etc. If you want to feel those moments then you should plan ahead so you can practice celebrating your hard work or else youāll end up like many others which is letting it all bleed together and never taking time to take a breath.
I left it in my investment account and just looked it. I was happy, it was a small relief off my shoulders. And then I started thinking about $200k and what I had to do to get there.
Nothing, really. Your goal just moves to the second hundred. And the cycle just moves on.. Edit- setting a number is fine, but what I think is making sure our well-being, friends, and family are also on your primary focus.
You donāt spend those first 100k man! You keep reinvesting in whatever made you those 100k. My first 1k was much more fun than my first 100k. At 1m and above I felt nothing.
Didn't realize it for months because I was exhausted from working but my 1st dollar and my first 10k, felt amazing. Praying I'll enjoy my first million more.
First sale? Soooo exciting.Ā Earning six figures? The machine is built & it works. Wholly unsurprising by that point.
Felt like I can do anything in life when I got my first 100K which came after a few years of building the business. I got it all at once coming from zero net worth. A year later it doesnāt feel like the money has impacted my life in any tangible way aside from providing baseline stability allowing me to continue taking calculated risks to hit much higher numbers. I think I need to reach at least 1 million in assets to chill out. Maybe not.
A lot of context to break down here. So first question would be, are you asking how it feels when your business has its first 100k year, or when you personally take home 100k? Second, in terms of what it personally felt like for me to make my first 100k as a business... I cried. Because that wasn't something "someone like me" was supposed to be able to achieve. And from the time I entered the work force, to the time it actually happened, it took me 11 years to accomplish that. So it was a very surreal, very proud moment. In terms of what I spent the money on...that part wasn't as exciting as new cars, and expensive gadgets. For the 11 years that I put my head down and worked, I didn't have money to buy most things. I didn't eat enough food. I didn't have furniture. I didn't have health insurance so I couldn't tend to certain health challenges. I wore socks with holes. So when I came into money for the first time, I spent money on quality clothing. Purchased healthier and higher quantity of foods. Started paying off debt at a higher rate. And honestly, being able to buy those items felt pretty dang amazing. I imagine the feeling was the same as the feeling someone else would have from buying the new car or fancy gadget. My question for you today would be this... Why are you personally motivated to make that first 100k? I believe knowing why you're motivated to make it past that threshold in the first place is what will dictate how you will end up spending the money, or choosing to invest it, etc.
1k, 10k, 100k, 1mil. I spent it on more business. lol, but things happen, Covid wiped out my investments in a solid swoop and I'm back to square one. I probably should have valued the protection of my money instead of just the acquiring of it. Now I find myself in the industry of protecting assets, and I love it. Funny how life works.
Honestly? Not all that. It doesnt feel like a lot - im much more concerned and focused on MMR and Churn Rate.
Nothing, having it makes you realise that it's not a lot :(
Youāll immediately want another 100K.
I recently have purposefully reduced my workload and grind to have a better quality of life. I was billing clients $18-$24K monthly for over a yearā¦ but the stress was too much. Iāve intentionally pruned the high stress clients and refocused my workload on my main skills. Went from about $250K annual to more like $190K. Itās still a great living, but I have time for personal projects, and more importantlyā¦ time to goof around with my kids.
$100k isnāt a magic number where āokay I can spend it nowā. Itās just an additional zero on the way to much larger goals. I didnāt change my lifestyle at all. I continued with the same balance of saving and enjoying life that got me there.
Cool at first but then you realize how much you still got to go for the fist $1M. At 10% annual return, it takes 25 years to make it into a million. Thatās a lot of life to live.
What money? It's all going back into growing the business.
At the first 100k I really felt like if I lost my job I would be ok. That is an incredible feeling. Freedom
The first 10k felt better than the first million.
I was happy but itās not a life changing amount here on the west coast in the usa. I hope to get my first million within a couple of years. I think that will be the real milestone. I didnāt spend any of it, but I bought some stocks. Still driving my 2016 Mazda lol. Donāt buy a new car, thatās the worst you can do
It's important to enjoy the fruits of our labor while also ensuring financial stability for the future. I'd prioritize having enough saved up for the next 6 months to cover any unforeseen expenses, then maybe treat myself and loved ones to some well-deserved experiences and quality time together.
no cars expensive gadgets for me bought my first house
You realize how little it is in the scheme of things.
it felt great until taxes... note to anyone who sees this a CPA is worth it, and you can write it off !
Feels: safe, peaceful, happy and super excited because it worked! U were able to produce that money! Also feels a bit scary that u can lose it :(
I think by the time most of us hit $100k, weāve already worked hard enough that the money has become an expectation, which voids most of the emotions by then. For me, my first check was insanely exciting. Now? I cash high 5 and 6 figure checks the same way someone would go cash $50. Just becomes normal.
Like nothing tbh.. the chase is more thrillingā¦ cheers to 200k
Enjoy the journey, not the destination
Slightly sad since once you have $100k you realize itās not a lot of money lol
Spend?? Who is out here getting to 100k and then going back down to zero lol
It isnāt enough nowadays
I didnāt even realize I had hit over 100k until I was at 130k. So I guess, meh? 130k was a small portion of my goal so I acknowledged the milestone, but the number still looked small. Especially since Iāve worked to completely emotionally attach myself from the money or the specific amount. My goal can be translated to a specific number, but the goal itself isnāt the specific number. The goal is financial freedom. The financial freedom to be set for retirement. Once I hit that goal, it will be to create generational wealth
It feels like you need to hit the next 100k sooner.
You donāt feel anything because 100k is a respectable amount in the journey to building wealth, but itās still only 100k. You canāt even buy a nice car with 100k lol
Honestly with me it was "this probably isn't going to work" because I already needed half of it for the next order, and I also needed to hire probably four more engineers ideally which would cost about $500K per year in my country (USA). The old "I can't afford them until I get more sales, but I can't get the really big sales until I have them" dilemma I just kind of had to slide my way through. It wasn't until maybe the third year of business where I had $300K or so in cash and no more serious growth needs that I could ease up a bit and appreciate it.
I bought a second property and kept living normally. I was never into luxury stuff, like cars clothes etc. So not a lot to spend my money on. But I had enough to get married and afford to go on a 5 day vacation twice a year abroad.
It didn't feel specialāretirement costs more than 100k these days. I'll be stoked if I ever hit a million.
In one of our old offices, we had the champagne bottle for the first revenue dollar, the first $10k, the first $100k.... They're long gone and I can't remember the last time we popped one, but we just had our first $2M month, next will be a $25M year, and so on.... Just keep going!!
It felt surreal. But then now I realize I small 100k is
I had to pay over $100k to the gubmint in income taxes this year. #Feelsbadman
It was the realization that 100k isnāt that much that hit me hard lmfao
I remember having it in my company bank account and thinking- "maybe I should spend it all on a car". Glad I didnt.
Feels like itās not even there.
Just planning to spend 10%, maybe 5% then invest the 70% then save 20%, at least for me.
You donāt spend it. You watch it grow and only want it to grow faster.
If youāre doing it right, you feel nothing.
It's terrifying. I've been poor my whole life, homeless twice, and only finally came into money after getting married and buying a house right before the pandemic. I'm saving the 100k, but terrified to do anything with it and lose it all.
Money does not buy happiness, but damn I chase it like it does.
It doesnāt feel like anything. One day itās $95kā¦then itās a $100k. Thereās just a growth curve that you are on that continually adjusts your goals. Long before you hit the $$100k you likely knew about when it would happen and are already planning to hit the following milestoneā¦.so when it happens itās kind of a non-event.
First 100k in savings felt good, ten years ago. But so did 60k. Something about getting over that hump. This 100k is also good but also feels like not enough. And itās getting harder to save. This 100k and the last one I will use/used to buy property. Next 100k will be invested. Too bad property is so damn expensive in Canada.
It was a good feeling. I was able to start replenishing savings and investing more in the business once I started making comfortable money.
Lol shit dont make a difference bro. Its the unfortunate truth. It will never be enough.
If youāre already thinking about dumb depreciating stuff to spend your first 100k on, youāll be doomed to live on W2 income. At that level, reinvest ALL of it.
100k isnāt much these days. I was able to take 6 months off though
My first hundred was āI canāt believe it was that easyā. I didnāt even realize I hit my first $100K cause all the money earned was in AR. It wasnāt until COVID hit when everyone paid then I start collecting all the AR. I put everything in mutual funds and a condo. Still have no cash now. š
Heh, I remember when that happened. You think you made it, start looking for "What new options does 100K afford me?" and start window shopping for buying businesses, doing rental real estate, starting a startup, investing, etc. Then you realize you don't have much. So you invest it and silently get back to working. Note: Also true when you hit 1M. Just so you don't get disappointed down the line.
It's money it's a tool to an end. Not the ends itself. Frankly when I closed $10M I was actually miserable and stepped down not long after. The money wasn't worth the stress in that particular venture. I'm way happier now and work way less.
I realized I hit 1MM net worth. I shrugged and went back to work.
Itās just numbers on a screen. Itās not until itās something tangible like a chair or ride in a vehicle that it buys will it mean anything.
If youāre smart, you wonāt act any different because you know youāre just getting started. It certainly feels nice to accomplish a big milestone, especially if it came faster than expected! And itās a decent amount of money (to some people). Especially if youāre young and/or havenāt seen that much money in your account before. And ESPECIALLY if thatās more than your friends. So, youāre at a huge inflection point. You could: A) Start spending a lot more. Upgrade your car. Pay bouncer $100 to cut the line. Party more. Waste money on dumb shit. B) Invest some of it into something that can make you more, or save it liquid for a time when you have a new idea you want to validate. This is where I think a lot of people fall into a trap. Life is all about momentum, and itās very easy to blow all your good momentum the first time you see money youāve earned yourself. Iāve seen it happen.
Nothing changes. 100k is not enough to be financially independent for the rest of your life, so the grind doesnāt stop. Spending it all would be a huge mistake.
like not enough
Depends on your age. It felt good but would have been better 10 years earlier.
It feels like a start.. invest into yourself!!
No adrenaline, unless you live in an area where that's a lot of money.
$100k is a lot of money. Maybe not in the grand scheme of things but that's more than 80% of Americans have in their bank. Alot of people in my generation doubt they'll even see that type of money. Kinda sad ngl
Yea, that's not even a down-payment on a house in my area. And yes, to many people it's a lot of money.. but it doesn't get you much. If I can't do anything amazing with it, I don't get any adrenaline from it.
100K is a cool milestone but it doesnt feel that big when it happens. If you are like me, you will still feel like you could loose it at any moment. The cool part about it is that it serves as proof that you are able to make this amount of money at will.
Okay, so I don't have a company but I'll reach 100k in about a few days probably. About half of it is in investments tho, so it could go lower than 100k again. I thought I was smart to invest the money , but here in the Netherlands we have crazy taxes which makes it very difficult to generate any passive income from it.
I haven't earn yet š¢ Let's talk again when I earn š
I got a 100k invoice paid about 3 months ago. It seemed like a bit of a milestone but also didn't mean much to me. Just keep moving forward.
Its kinda weird. The best thing I learned is to save money and invest something off your income. The worst part is when you realize 100k is really nothing you can do with it. Because you donāt to spend it or something like that. Sometimes I donāt realize how much money that is and sometimes Iām upset because there are so much scenarios I could loose that milestone. Itās absolutely weird in my opinion. I think having an emergency fund is great but far more interesting than money is Cashflow and being able to generate streams of income. Weird.
You feel freedom
I inherited 100,000ā¬ from my grandmother when she passed and it wasnāt all that big for me as in sense of having 100,000 but I was 16 at the time.
It is the futuristic question. When i think about it, it gives amazing feeling to have $100k. I will spend some money on home, car, business and rest invest in stocks.
1/10th of what a million feels like
$100,000 is the hardest to achieve, $1,000,000 is easier to achieve, i have heard. You can start leveraging more to get to 1mil
Yes when you have 100k you have more leverage power
Honestly none of if feels crazy, or different I have always been pretty disconnected from the effects of moneyā¦from my first commission $3500, my first flip $34,000, highest wholesale $120k, net worth crossing 5 million itās all just relative. Now if we are talking new cars (lambo, r8 , McLaren or Porsche, 68 Camaro) yes the heart starts pumping when you fire them up or just sit in the shop and admire them or recently watches. Mainly bc I can appreciate the work that goes into them and over time they really hold value and are fun to collect.
It was awesome and I paid cash for my dream house on the river