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The first $100,000 is a b*tch, but you gotta do it. I don’t care what you have to do – if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.
CHARLIE MUNGER
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Charlie Munger's most iconic quote of all time
As Warren Buffett's right hand man, Charlie has proven himself to be one of the most consistent and stable investors of our generation.
- In this quote, he argues that you need to live extremely frugal to accumulate $100,000. Whether its walking everywhere, only buying food with coupons, or spending no money on any entertainment, these are the difficult steps you need to take in order to establish financial stability quickly and early.
- Once $100,000 is accumulated, it makes future investment growth easier thanks to compound interest, dividends, and time.
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