Is your first $100k the toughest to earn?

'You gotta do it': the late Charlie Munger once said your first $100K is the toughest to earn — but most crucial for building wealth. Here are 5 ways to reach that magical milestone 'You gotta do it': the late Charlie Munger once said your first $100K is the toughest to earn — but most crucial for building wealth.

Is a first $100,000 a good investment?

One of his most famous and colorful pieces of investing advice, offered more than two decades ago to an audience member at an annual meeting of Berkshire Hathaway shareholders, was that amassing your first $100,000 is a critical early milestone on the path to long-term wealth. “It’s a b—-, but you gotta do it,” Munger said.

What is the hardest part of building wealth?

Munger has said that accumulating the first $100,000 from a standing start, with no seed money, is the most difficult part of building wealth. Making the first million was the next big hurdle. To do that a person must consistently underspend his income. Getting wealthy, he explains, is like rolling a snowball.