10 Things to Do to Get Your First $100K
Saving your first $100K is the hardest part of building wealth. Not because it’s a massive number. But because it feels like you’re doing all the work—and getting little return.
In the beginning, your savings rate matters more than your investment returns. You’re grinding. Compounding hasn’t kicked in. And your income isn’t where you want it to be yet.
But once you hit $100K, everything changes. Compounding starts pulling more weight. The game shifts from brute force to momentum.
So how do you get there faster? Here are 10 moves that make a difference.
1. Maximize Your Income
You can only cut so much. But there’s no ceiling on how much you can earn.
Learn high-income skills. Negotiate raises. Take on freelance or consulting work. Start a side hustle that scales.
Your income is the engine. The more you make, the faster you save.
2. Live Below Your Means
Earning more is great—but not if you spend it all.
Avoid lifestyle creep. Delay the upgrades. Buy used when you can. Cut the fluff.
Every dollar you don’t spend is a dollar that can grow.
3. Automate Your Savings
Saving shouldn’t be optional—or something you remember at the end of the month.
Set up automatic transfers to savings and investment accounts. Increase the amount every time you get a raise.
Make saving invisible. Make it a habit.
4. Invest Early and Often
Waiting until you “have more” to invest is one of the biggest mistakes.
Start now—even if it’s $50 a month. Time matters more than timing.
Open a Roth IRA. Use your employer match. Stick to low-cost index funds. Stay consistent.
5. Eliminate High-Interest Debt
High-interest debt is wealth in reverse.
Credit card debt at 20% interest crushes your progress. Make paying it off your top priority.
Use any extra cash—bonuses, tax refunds, side hustle money—to knock it out.
6. Optimize for Taxes
If taxes are one of your biggest expenses, treat them like it.
Use tax-advantaged accounts like 401(k)s, IRAs, and HSAs. Track deductions. Understand capital gains.
Every dollar you save on taxes is a dollar you keep working for you.
7. Increase Your Savings Rate
Start with 20%. Then increase it every year.
Save half of every raise. Bank your bonuses. Run no-spend challenges to boost your cushion.
The more you save, the faster you hit $100K.
8. Protect What You’re Building
Wealth grows fastest when it’s not being drained.
Build an emergency fund. Get the right insurance. Avoid scams. Use strong passwords. Freeze your credit if needed.
Protecting your money is just as important as growing it.
9. Build a System That Runs Without You
Manual effort is great—but systems are better.
Automate your bills, savings, and investments. Review once a month. Track your net worth once a quarter.
The goal is simple: make your system so easy it’s hard to mess up.
10. Think Long-Term
Getting to $100K is about grit, patience, and consistency.
Ignore the noise. Avoid get-rich-quick distractions. Focus on progress, not perfection.
Once you cross $100K, compounding takes over. But to get there? You have to do the work.
Stay in the game. Stick to the plan. And don’t quit before the magic kicks in.
