How To Save Your First $100K
Frugal Friends Podcast
Jen Smith & Jill Sirianni | Backyard Ventures
4.6 • 1.2K Ratings
🗓️ 27 February 2024
⏱️ 59 minutes
🧾️ Download transcript
Summary
When does one step at a time get difficult? For us, it’s saving the first $100K. Building on an insightful discussion about all the math behind this, Jen and Jill share their thoughts on why this point marks a significant turning point in one's financial journey. Join your Frugal Friends as they continue the 6-week Roth IRA Challenge by discovering the reasons and ways to save your first $100K.
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Transcript
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| 0:00.0 | Episode 384 is episode 213, how to save your first $100,000. |
| 0:11.0 | Welcome to the Frugal Friends podcast, where you'll learn to save money, embrace simplicity, and live a rich of your life. |
| 0:20.8 | Here are your host, Jen and Jill. |
| 0:27.6 | Welcome to the Frugal Friends podcast. My name is Jen. |
| 0:31.0 | My name is Jill. |
| 0:32.2 | And today we are continuing in the theme of our six-week Roth IRA challenge with how to save your first |
| 0:41.9 | hundred thousand dollars. And it sounds like a lofty goal, but we're here with you. There's steps |
| 0:49.7 | along the way. And I think having that tangible goal, the why is this the amount that we are |
| 0:56.9 | aiming at is going to get explained in this episode. Yeah. At the end of our six-week Roth IRA |
| 1:03.4 | challenge episode, which if you haven't listened to that, you should go back and listen. |
| 1:08.0 | I ended the episode with a challenge to not think about becoming a |
| 1:16.2 | millionaire. Sometimes we can think, I don't need to become a millionaire. I'm perfectly happy |
| 1:22.2 | working. I'm perfectly happy living on, you know, not a lot or working till I die, which is what Jill said. |
| 1:31.3 | But honestly, everyone should pursue becoming a millionaire, not for the sake of having a million dollars, not for the sake of saying you're a millionaire, not for vanity. |
| 1:44.0 | But when good people hold wealth, good things happen. |
| 1:50.0 | Wealth is going to be there. |
| 1:51.4 | The money is going to be there. |
| 1:52.8 | And the question is, who's going to hold it? |
| 1:55.1 | All right. |
| 1:55.6 | Are you going to let your employer hold it because you're not asking for a raise? Are you going to let Target |
| 2:02.3 | hold it because you're not controlling your impulse spending? Or are you going to control it by |
| 2:08.1 | pursuing the raises, controlling your spending, and putting your money into your investment accounts? |
... |
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