Your net worth will 'go crazy' once you pass this money milestone - here's the magic number and how to hit it

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Gt(e,o.submitSearchBtn,m(m({},Kt),{label:null!==(t=n.i18n.root.SEARCH_TOOLTIP_WEB)&&void 0!==t?t:"Search the web",containerClass:"".concat(jt.tooltip," ").concat(jt.tooltip__web),tooltipParentElm:o.clearSearchBtn.parentElement}))}));var Jt="_yb_tdk4ba",Vt="_yb_hkd17a",$t="_yb_rtzclf",Xt="_yb_tdbhj6",Zt="_yb_de52ef",Qt="_yb_9hwrey",en="_yb_slc8ta",tn="_yb_bf0svp",nn="_yb_hjic9z";be("ybar-mod-adaptivenav",(function(e){var t=document.querySelector("#ybar-l1-more-menu ul"),n={moreDropDown:document.querySelector(".".concat(Jt)),moreBtn:document.querySelector(".".concat(Vt)),wrap:document.querySelector(".".concat(Xt)),moreSectionTitle:document.querySelectorAll(".".concat(Zt)),editionsCtaBtn:document.querySelector(".".concat(Qt)),editionsMenu:document.querySelector(".".concat(en)),closeBtn:document.querySelector(".".concat(tn)),moreMenuDropDownHeight:t?"".concat(t.offsetHeight+48,"px"):"0"};new 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index fund. When you earn dividends, you automatically reinvest those proceeds to buy more shares and your returns grow over time.But there’s a catch, according to personal finance YouTuber Mark Tilbury: the magic only really happens after you’ve earned your first $100,000.Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's howI'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast)You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how“Don't worry about earning millions,” he said. “Instead, focus on the first $100,000 because, after that, your net worth will go crazy.”Tilbury joins a vast chorus of money mavens to drum home the significance of that first $100,000. Even the late Charlie Munger, a billionaire investor, described it as “a b—-, but you gotta do it” because “after that, you can ease off the gas a little bit.”But hitting that $100,000 milestone is tough for young Americans today — especially when you consider post-pandemic inflation, elevated interest rates and sky-high home prices due to a nationwide inventory shortage.Here’s why the first $100,000 is so important and how you can speed up your journey to personal wealth.After you hit $100,000 “compound interest stops being lame,” according to Tilbury. “Getting that chunk of money as fast as possible is the key. [...] Once you get to this point, it’s almost inevitable that you’ll be wealthy if you just invest in a low-cost index fund.”To get there, Tilbury suggests people follow what he calls the GROWTH method:G: Gain control of your finances.R: Root your investments.O: Optimize your tax management.W: Weed out your debts.T: Tap into additional income streams.H: Heightened self-discipline.Gaining control of your finances is crucial for achieving long-term financial stability and reaching your goals. And according to Tilbury there’s only one way to gain control of your finances— budgeting. Once you’ve assessed your budget, there may even be ways you can shave off some unnecessary dollars and avoid unnecessary spending.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,385.90 +15.04 (+0.24%)Dow 3044,652.24 +19.25 (+0.04%)Nasdaq21,196.97 +98.68 (+0.47%)Russell 20002,264.10 +21.14 (+0.94%)VIX16.02 +0.04 (+0.25%)Gold3,354.40 -26.80 (-0.79%)PortfolioSign in to access your portfolioSign inTop gainersPIII P3 Health Partners Inc. 7.44 +1.64 (+28.29%)WING Wingstop Inc. 371.33 +81.03 (+27.91%)FTAI FTAI Aviation Ltd. 144.84 +30.70 (+26.90%)TER Teradyne, Inc. 109.71 +19.16 (+21.16%)FSS Federal Signal Corporation 126.75 +21.89 (+20.87%)Top losersSLGN Silgan Holdings Inc. 46.76 -9.04 (-16.21%)NEGG Newegg Commerce, Inc. 47.75 -8.44 (-15.09%)CAR Avis Budget Group, Inc. 174.40 -29.48 (-14.45%)CHKP Check Point Software Technologies Ltd. 187.29 -31.04 (-14.22%)ENTG Entegris, Inc. 82.86 -9.89 (-10.67%)Most activeSOFI SoFi Technologies, Inc. 21.77 -0.63 (-2.81%)NVDA NVIDIA Corporation 179.57 +4.06 (+2.31%)LCID Lucid Group, Inc. 2.5350 -0.0250 (-0.98%)TSLA Tesla, Inc. 317.25 -3.95 (-1.23%)AAL American Airlines Group Inc. 11.61 +0.18 (+1.62%)Earnings eventsTrending tickersWING Wingstop Inc. 371.33 +81.03 (+27.91%)MRVL Marvell Technology, Inc. 82.38 +6.04 (+7.91%)HIMS Hims & Hers Health, Inc. 65.84 +5.57 (+9.24%)SBUX Starbucks Corporation 93.35 +0.39 (+0.42%)PANW Palo Alto Networks, Inc. 185.50 -8.34 (-4.30%)Top economic events