111. Why Saving First $100,000 is Hard [BUT Next $100K is Easy]

111. Why Saving First $100,000 is Hard [BUT Next $100K is Easy]

Author: Matt Gebre July 16, 2022 Duration: 8:29

Anyone trying to save $100,000 should know it’s not easy, but it’s very possible. In this video I’ll share with you how to make this happen fast.  Charlie Munger, one of the most successful investors of all time said that accumulating the first $100,000 from a standing start, with no seed money, is the most difficult part of building wealth.   It took me about 10 years of investing without any kind of real strategy to get to my first $100k in my 401k and I can tell you the time it takes you to get the next $100k after that is much shorter, but why is that and what can you do to make it to your first $100k faster than 10 years?

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Engineer Matt Gebre brings a practical and deeply personal perspective to money matters on the Habesha Finance Podcast. As the son of two Habesha immigrants, he approaches finance with the understanding that there is no single, rigid path to security and freedom. Instead, he shares the strategies and knowledge he’s gathered, aiming to help others build independence and solve their unique money problems. You’ll hear conversations that feel like practical advice from a knowledgeable friend, covering a wide range of essential topics. These discussions move seamlessly from foundational personal finance-like saving effectively for retirement or navigating college without crippling debt-to broader entrepreneurial thinking. A distinctive thread running through this podcast is Matt’s focus on the experiences and insights of Ethiopian and Eritrean entrepreneurs, offering valuable lessons and inspiration drawn from specific cultural and community contexts. The overall tone is exploratory and grounded, rejecting one-size-fits-all answers in favor of relatable, actionable ideas. Tuning into this podcast means getting a clear-eyed look at building wealth and stability, informed by both technical know-how and real-world, community-centered stories.
Author: Language: English Episodes: 100

Habesha Finance Podcast
Podcast Episodes
87. Community Q&A: “What is a Good Investment to Start With?” [not-audio_url] [/not-audio_url]

Duration: 12:11
“What is a Good Investment to Start With?” | How to Invest for Any Beginner Investor. In this podcast I answer a question about investing recently on a live stream on the YouTube channel. Here we go over a couple of key…
82. How to Earn MORE Money With High Yield Savings Accounts [not-audio_url] [/not-audio_url]

Duration: 8:27
What's the best high yield savings account? That all depends on you really and in this video I talk about the two companies I really like for just about anyone looking to make more money on their savings. Don’t forget to…