Why EVERYTHING Changes After $10K (7 Reasons)
🐪 Hump Days Newsletter ➭
In this video I lay out 7 reasons why life changes after you hit a $10K balance in your savings/investments!
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🐪 Hump Days Newsletter ➭
WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!
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⏱️ Timestamps:
0:00 – Start Here
0:33 – Shatters a Mental Barrier
1:53 – Power of Compounding
3:48 – Confidence Around Money
5:09 – Cover Life's Emergencies
6:30 – Pickier Over Opportunities
7:43 – Unlock Investment Opportunities
8:35 – Break Cycle of Financial Anxiety
Here’s my FREE 🐪 Hump Days Newsletter ➭ https://humpdays.substack.com
10k was my 6 month emergency fund number. I remember hitting it last year following a bonus and made me feel like I had FU money for the first time 😂
$10K for 6 months of expenses? Do you have shared housing?
@@TheFirstRealChewy $10k is pretty realistic for a single individual. In my situation for a family of 4 would need $27,000
@TheFirstRealChewy Depends what country you live in too, in Finland I survive with like 12k a year since I’m unemployed. I live in a city of about 150k ppl and can rent in almost the city center.
@@TheFirstRealChewy live in Ireland, married no kids. 10k covers my share of the mortgage , food bills transport and my own bills
@@TheFirstRealChewy 10k is 6 months of rent in any normal place not in a blue city.
Comparison is the thief of joy!
Underrated comment.
Just got 20k and im 25 years old, also investing.
Never settle.
Keep going.
Life is a game, and it’s only fun if you’re leveling up.
Cue bots saying: “haVE yOU heaRD of MisS Setya Cathirine?? She changed my 25k into 600 milliong in JUST 3 DAYYYYSSSS
Keep going man I’m at 40k. Just turned 21. I will be close to 70k by end of year
2:32 warren buffets net worth at 14 was $5k. Adjusted for inflation, that is worth nearly $90k today. Just a thought.
Thank God for inflation. It’s how we, investors, get even richer.
@@matw1xRicher while purchasing power doesn’t increase. Sounds amazing haha
@@brock5946Typical brokie who thinks everything is rigged against him.
Cry harder while the rest of us get richer, brokie.
@brock5946 typical loser who thinks he’s a victim to the sys.
Cry harder, Pokémon master.
@@matw1x Unless you were already a million dollar investor and your returns are higher than your current expenses, then no, it’ll only work against your favor.
Thank you for using 10k as an example instead of the 100k. It feels so much better for an average (starter) person with average income to feel motivated and inspired because it’s more within reach. ❤
10k is the point of the video. That’s why he said it’s the most important
I think it’s easier to break down in bite sized pieces: 10k milestone, then 25k, then 50k, before finally barreling towards 100k.
$0k is good but Net worth truly snowballs after $100k! Keep investing regularly and you’ll be blown away how much it can change in a few short years. Here’s to $1 million and to FIRE!
0k is good huh?
Cannot stress the importance of the 10k emergency fund. It’s a life changer. The amount of stress off your shoulders is unbelievable.
Facts
What a lot of people don’t always remember is that saving money can come from many places, sold a car, its extra money – Then into the saving account it goes etc. Helped me achieve way beyond 10k goal, remember don’t spend it uselessly
I am 16 and about to hit $10k from working a part time job.
Nice job
Keep it up. We’re strangers but we’re proud of you.
Easy when you have nothing to pay for
@@bcjammer87 How old are you and what’s in your bank account?
@@bcjammer87 exactly why I started working and saving at an early age
I decided in November to start saving aggressively, I use to think that as long as I’ve got 2k in my account im fine i can spend as much as i want as long as i dont go under that 2k line, now im aiming to hit 10k before the year is out, I started by thinking i could save 1000 a month but I’ve never been more stressed with money than that initial month, i found a sweet spot for me of 5-600 a month and still be able live and have fun with my money, I’m at 4k now looking forward to my first 5k then onwards to 10k 🎉
I followed this exact method to get me to 100k. But the first 10k was the biggest grind.
Thank you Humphrey!
I know the math is the same and 10k is to 100k what 100k is to a million, but it is still very refreshing to see this mapped out on a smaller scale.
I’m glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love.
10k felt so secure but having had a situation where it all got used… I have absolutely ZERO regrets saving up! I can and will do it again, emergencies are only temporary unless you give up!
I hit that milestone a while ago for my emergency fund but still feel like its totally not enough, at the time i was happy but my mind moved the goal post 😭
My financial anxiety is really down a lot after I reached 10K$! It is not much, but it does build up the confidence & peace of mind, plus it is achieveable with less pressure! Thank you for sharing this! 😊
At this stage, being completely debt-free—especially without a mortgage—is one of the smartest financial decisions you can make
I really appreciate the dedication in each video you post and i enjoy every single one. This is why to be successful, rich and also having a good retirement plan every American needs to have multiple income streams and so on, also investors should understand the crossover between asset classes & liquidity flow, Angie Chen Owens focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch
$300k in your 401k is a huge benchmark. At $300k, the growth will be higher than the max contribution.