Reaching your first 6-figure

If you're reading this, chances are you're aiming for significant financial growth. For the longest time, I couldn't grasp why money seemed so elusive, slipping through our fingers almost constantly.

That changed for me recently, and I almost didn't realize it.

No, I didn't suddenly become a millionaire. That would be quite the story if it were true. Instead, I reached my first six figures through passive investment. As we entered 2024, it entered the 6-figure zone.

This isn't a brag about reaching a milestone, but more of an assurance to you that it's possible to grow your money in the background.

From the outside, it doesn't feel like a lot of work, because truthfully, it isn't. Before this, like many others, I struggled to find a way out - a way to increase income. We explored various avenues, experiencing failures along the way. Then, I turned to those who seemed to have figured it out. I saw friends who hadn't finished high school diving into labor or trades (in Australia, they call it being a "tradie") and making significantly more money. I learnt that everyone values and treats money differently.

Reaching a million dollars passively is possible, let alone $100,000. The key to enabling this is understanding that value is relative to the asset holder, much like beauty is in the eye of the beholder. $1,000 might be a lot for someone who is thrifty, but to a privileged individual with a trust fund from childhood, it might not mean much.

Typically, people will tell you there are only two ways to reach your first six figures - reduce expenses or increase income. You've probably heard it all - save on coffee, cook at home, and all those small actions that supposedly save thousands of dollars.

But sacrificing the things you enjoy to the point of struggle isn't really living, just as overindulging isn't necessary either.

So, it comes down to increasing your income, right? But if you're working full-time and limited by your skillset, how do you break out of that? For a while, I wondered. But as I progress and learn throughout life, I see how the financially intelligent does it.

Here's how they do it - they spend more, but not on unnecessary things. Invest things that will make your money work for you. You've likely heard of this before, but essentially, spend your money on assets that appreciate in value. That's how you put your money to work for you.

For me, it was as simple as choosing the right equity asset that I was confident would grow over time. Sounds easy, right? Here's the catch - not being able to touch that money for ten years since I started investing was perhaps the most challenging aspect of building my first six-figure sum.

Owning a home, wanting to travel, getting married, having a child - any of these could have changed my path. And they could for you, too. So, after this lengthy post, my general advice is to invest passively. Start early. And keep going.

I hope that makes sense. Until next time!

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