How I saved my first $100,000 (my formula)

👉🏽My free “Save your first $100k”tracker: nischa.me/personal-finance-tracker

Nice video! Please please please make a video of all your failed side hustles as you mentioned. It's important for people to understand that failure is just part of the journey

To the best of my knowledge, Mungers quote is from the early 90s. Meaning that the 100k he referred to, in todays value, probably is around 350k. Something to think about.

So true! The first $100k is the hardest because you don’t have compound interest working hard for you yet. It took me 4.5 years to hit a $100k networth. It took me 2 years to hit the next $100k.

In an age where instant gratification often reigns, this sort of practical advice is what we need more of, especially for young adults like myself. It's about time we make saving cool again!

I am fortunate to have $100k saved by the age of 23 without venturing into stocks. Now, I want to invest safely for growth in the next 3-4 years to buy a home. What's the best strategy?

Dude you are like legit empowering us young people about financial issues. I am a 31 year old guy learning a lot from your content.

Great video! And thank you for being honest about the advantages you’ve had on your financial journey 😊 many other creators fail to mention this, and make it seem like it’s easy to save this amount of money. So thank you for acknowledging the different points of departure we all have.

A job should be there to learn or to earn, ideally both. Love that. Going to have to remember that one.

I am so guilty of not tracking my spending more strictly. As long as I’m net positive at the end of the month I would keep on with my routine. But I finally took the time to track and categorize what I spend my money on and the numbers seemed so staggeringly high. Just totaling up the Amazon purchases alone was the reality check I needed 😅 thanks for the continuous drip of knowledge and inspiration. Keeping the idea of saving and smart investing top of mind is a great way to help me be mindful of what I put my money towards.

That's very interesting actually. The fact that you tried many other businesses on the side that didn't create positive results but still stuck to it and kept trying. That would make for a great video!

Living below your means and watching your spending very closely is very important particularly in the current environment. Thanks for your wisdom as always Nischa 🙂

I’m on the cusp of getting my 1st home, I’m looking to get it and rent it and live with my parents for a few years as you did.. using tax defo my accounts to increase my deposits and also putting aside for small things I like to have(investing in watches) .. thank you for this video really boosts moral when you confirm that my thinking is correct ❤

I have to say that the first $100k is the toughest, it'll surprise you how easy it gets from there, i'm speaking from experience my wife and i managed to save it, we could have spent it on a lot of things i mean we could have gone on vacations but we didn't and funny enough didn't really start seriously investing until I was 30 back in 1998. Today, I'm 53 and have a decent $1.2M nest egg. After learning all of this, my only regret is not starting earlier when I was 25. It may not seem like much but those extra 5 years are the most important.

I would love to see the 'failed businesses' videos. That would make me feel so much better about my attempts . . . Once again, thank you so much. The way I saved my first 100,000 was by automatically contributing to my 403K account every month and it just took off from there. Making it automatic was key for me, especially when young and undisciplined. Thank you, Nisha.

Nice to see other ppl in this chat talking about building wealth. 100k is something I’ve set my sights on cause when I broke it down over x amount of years it is soooo attainable. I’m going to screen shot my balance when I get there and use as motivation.

As a NHS doctor I wish you good health ... May you keep delivering such inspiring lectures.

My next goal is to save up the deposit to buy the house next door. I bought a tiny home just for me 1.5 years ago with £5k which needed a lot of work but I got it on a 5% mortgage which allowed me to move out of rental. I’ve been doing it up ever since and just got a cooker (I was on a camping stove before). Lots of people have said to me they would never do up a home or live somewhere half finished or sleep on an air bed for 6 months. Most are too used to being comfortable, building wealth is slow and unless you have lots of options or family with money you need to make sacrifices … worth it in the end 😅 brilliant tips as always, although that isn’t my goal for now your videos always give me lots to consider! ❤

You are spot on with your advice, as someone that built wealth from nothing I can tell you’re teaching based of raw experience and not just regurgitating random information like many other teachers.

I bought an older year box truck (I'm a welder) so I have access to unlimited steel I have formed metal working skill over the years and I have converted this thing comfortable enough to live in rent free all the extra money is either going towards saving or investing it's possible