Warren Buffett’s right-hand man Charlie Munger believed that hitting the initial threshold of $100,000 was crucial in building wealth. He emphasized that it’s not about being rich quickly, but rather having a solid foundation to grow from. With the power of compounding, reaching this milestone can provide a strong base for long-term financial goals. Munger’s wisdom highlights the importance of clearing the initial hurdle, which is still one of the hardest things to assemble. By doing so, you’ll have more freedom in making decisions and building wealth over time.
Source: https://uk.finance.yahoo.com/news/charlie-munger-said-way-hands-155213794.html