Alright young ambitious money seekers: $100k. I used to (still do) save $ like crazy and never enjoyed it. $100k in savings (early 20s) is when I finally relaxed a little. They say the big numbers are $100k, $10m and $100m. That’s when you feel major differences.
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Was that all checking account or you had some in the market? (So still liquid but would take ~5 days vs. ATM withdrawal)
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Mostly liquid. I didn’t know anything about investing until mid to late 20s
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What will get you the big 9?
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Saved 6 months, then started piling cash into rental property down payments and other long term investments. Totally credit
@ramit@tferriss@GuyKawasaki 2 months ago I started thinking “man that cash has been useless... maybe I should put it to work.” So glad I didn’t. -
FYI - tried to refinance rental prop this week. I have over 50% equity. Banks won’t take the loan. Avoiding risk at all cost - no investment properties. I would have no access to cash even with great balance sheet.
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Definitely. Putting away 3-year's worth of runway was one of the most impactful things I've ever done. Allowed me to be way more intentional with pretty much every other area of my life. Also, feels good not to incessantly worry about money.
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