How Long it Takes to Go From $100K to $1 Million

In this episode of the Personal Finance Podcast, we're going to talk about how long it takes to go to your first $100k.
We will talk about:
- Why it is so important to get to your first $100k
- What does frugal really mean?
- Examples of why your first 100K is a grind
- How to Stay Motivated at the start
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[@wildfoodietours]

Great episode. Even more motivating is that once you reach $500k, you're not just half way to $1 million but about 75% of the way there due to compound interest!

[@Churchillhump2268]

Consistently high returns can shorten this time, but it's not easy to achieve without taking on risk.

[@V.stones]

It's worth noting that during periods of economic uncertainty, like we're seeing now with fluctuating interest rates and market volatility, it could take longer to reach that $1 million goal. Careful planning and risk management are crucial.

[@Jonesmatsunaga]

Absolutely, economic factors play a huge role. If you can average an annual return of 7%, you're looking at roughly 30 years to grow $100K to $1 million. However, if your returns drop to 5% annually, it could take around 40 years. It’s a long game.

[@mariadrukker2557]

With the current US economy, inflation rates, and potential for recessions, the market can be unpredictable. A diversified portfolio is essential to weather these fluctuations and stay on track for long-term goals.

[@reginaldhufenstien]

You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could help to earn a high in these challenging conditions.

[@mariadrukker2557]

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

[@luv4nature]

The calculations are completely wrong when doing the scenarios going from 100,000 to 1,000,000 with what he listed as monthly contributions. When he showed the examples of $100, $250 $500, $1,000 and $2000 “per month“, he was calculating with those being annual contributions rather than monthly contributions. The time it takes to go from 100,000 to 1,000,000 is significantly lower than what was done in the calculations used in this video. For example, the $500 a month contribution once you were already at 100,000 assuming a 10% compound rate you would reach 1 million in 19 years versus the 23.6 shown in the video. At 2000 a month you would break 1 million just 13 years after hitting 100,000 if you’re contributing $2000 per month compared to the 22.4 years stated in the video.

[@luv4nature]

And 2000 per month once you’ve reached $100,000 compounded at 10% Would grow to 10,.8 million and35 years rather than 3,352,000 as stated.

[@rcDoom]

8:10

[@MrTedTederson]

It also depends what you invest in. I started at $0 in 2020. I'm now closing in on $250k because I identified companies like Amazon in 2020 during the pandemic, tesla in 2021 and 2022 and now Nvidia and the chip stocks in 2023 and 2024. I'm up several hundred percent in the four years, eleven months since I started, and I'm only invested in dividend aristocrats with high annual dividend rate growth, and the mag-7. So if you're able to push your rate of return above 10% per year it goes a lot faster

[@nicksmith8141]

My 1st 100k took 8 years then each subsequent 100k took less and less time. I did have some brief setbacks during market crashes/downturns, but you pick the right investments they will bounce back very quickly. Investing through all market conditions, patience and minimal targeted selling will get you there... My son will have a huge head start since I opened him a custodial brokerage and put in every other week right after he was born. He also has a 529 i contribute to monthly.

[@money0436]

How would invest if you already have more than 1 mil dollars?

[@avs-forum]

Is it 100K in one index/ETF/Stock or 100K in a portfolio, like a three-fund portfolio? Does it need to all be in ONE thing?

[@sammiec.1496]

@avs-forum Great point! I have 105k Roth, Brokerage, and Savings combined.

[@avs-forum]

@@sammiec.1496 Ive asked this on about 7 videos like this and not one of the KZbinrs have answered. I dont think they even know and just repeating each other.

[@johntorrington2672]

Most ETFs are irrelevant after 5 years, except ones that follow the index.

[@BradMalley-ce5hd]

Is this based on minimum wage?

[@ghostuna1500]

100k on one fund or multiple funds

[@gobot4455]

So the answer is "it depends". In my inactive account, I crossed the firdt $100k in 2019. I expect to cross the $1MM mark in 2035. In my active account, I crossed $100k this year and expect to cross $1MM in 2034.

[@alphasuperior100]

Why must I wait 10 to 40 years

[@bossballheaddawg2588]

Great information. What if I have 525,000....how long

[@nicksmith8141]

Realistically 7-8 years assuming you are contributing at least $1000 per month. If not likely 9-10 years.

[@WhiskeyCurious]

apply the "rule of 72", if you average 10% returns it will double in about 7.2 years. if you get 7% returns it will double in 10 years.

[@mwbro123]

In last 10 months I made my first 100k.

[@mikelessard7492]

If u get somewhere between 15 & 20% then it only takes like 17 year's

[@cbest4319]

How long does it take to get from 1M to 10M???

[@WhiskeyCurious]

at around 10% return it will double every 7.2 years, so about 23.25 years.

[@chrisniner8772]

I'm living 6 pack to 6 pack.

[@Malaki727]

100k for me was not the hardest. Getting 10k was the hardest to me. Took me 3.5 years

[@cheeseman9967]

If...If...If...this is a math class...

[@WhiskeyCurious]

Nice, your hearts in the right place but here's a few things...while Warren did have time on his side, Birkshire had some years of 50-60-90% growth because it invested directly into businesses. Warren wasn't doing the diversified retirement portfolio like us schmucks. Vastly different scenarios there. And the money doesn't "earn $41K every single year" (especially at the beginning) some years its up, some years its down. Over-simplifying perpetuates financial ignorance.

[@donnlowel4097]

I just wish these youtuber investor tell the truth about their investing.