Johnny and Derek break down the power of compound interest in this back to basics reminder episode. They cover why getting to $100K in investments is a huge milestone in the path to becoming a millionaire. They give real life examples of how fast your wealth can grow when you stay focused and don't pull out your investments on frivolous expenses. Share this episode with someone that is just starting out their investment journey or could use a push to start!
Discussed:
Compound Interest Calculator
Where we are:
Johnny FD – Kyiv, Ukraine / IG @johnnyfdj
Sam Marks - Bangkok, Thailand / IG @sammarks12
Derek – Los Angeles, USA / IG @DerekRadio
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Time Stamp:
02:45 - Why $100K is So Important
07:40 - Charlie Munger's Model to Get $100K
11:52 - How Fast $1K a Month Becomes $1M
21:20 - The Argument to Spend Your Money vs. Save
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