Why is the first $100K the hardest? And why does your wealth seem to grow so much faster after reaching it?

In this episode of the WealthLab Podcast, Scott and Phil break down the psychology, math, and strategy behind hitting your first $100K in savings and investments. We explore compound interest, the snowball effect, and why your net worth skyrockets after $100K.

What You'll Learn in This Episode:

✅ Why the first $100K takes the longest—and how to speed it up

✅ How compound interest and time work in your favor

✅ The difference between saving for $100K vs. investing for $100K

✅ Why increasing income matters more than extreme budgeting

✅ How delaying retirement for just 2 years can add $100K+ to your balance

✅ Why most people fail to invest early—and how to avoid their mistakes

Key Takeaways:

It takes around 7 years to save $100K if you're investing $1,000/month at a 6% return.

The second $100K takes just 4.5 years, thanks to the power of compounding.

Your mindset matters! The wealthy focus on growing money, not just saving it.

If you start late, you’ll need to invest 2.5X more to catch up!

Small decisions today—like investing early and staying consistent—make a massive difference in long-term wealth.

If you're ready to crack the $100K milestone and accelerate your path to wealth, this episode is for you!