The $100K Net Worth: What It Actually Takes to Get There
$100,000 sounds like a lot of money. For a teenager, it is. But $100,000 is also an interesting financial milestone. Why? Because it represents something more important than simply having a large bank account. Reaching a $100,000 net worth means the value of everything you own, minus what you owe, has reached six figures. That could include cash, investments, retirement accounts, business ownership, and other assets. It doesn't mean you have $100,000 sitting in your checking account. It means that you have six figures left over when you subtract all your liabilites, which is harder than it seems. The first $100,000 can teach you almost everything you need to know about building wealth, honestly. Especially because it is the base of everything. Earning and retaining your first 100,000 dollars is harder because you are likely starting from zero. However, taking that $100,000 and transforming it into a million dollars can be arguably easier, because you have a starting point, and yo...
