Summary of Why The First $100k is the Toughest | Charlie Munger Secrets

00:00:00 - 00:10:00

The first $100,000 is the most difficult to make because one's focus is limited to only thinking of opportunities that would bring in this amount of money. Charlie Munger, Warren Buffett's business partner, has said this same thing. Munger suggests biting the bullet and going for it, and then investing in skills and time to help achieve success.

• 00:00:00 The first $100,000 is the most difficult to make money from, because one's focus is limited to only thinking of opportunities that would bring in $100,000 or more. Once one makes this amount of money, the rest becomes much easier. Charlie Munger, Warren Buffett's business partner, has said this same thing.
• 00:05:00 The first $100,000 is often the most difficult to make, as the administrative work of scheduling and answering the phone may not be the most valuable work. However, there are opportunities available to those with the skills to pursue, such as becoming a phlebotomist. If you are not familiar with the opportunities available to you, or if you do not have the skills required to pursue them, then look into certification programs that are available.
• 00:10:00 Charlie Munger shares advice on how to make the first $100,000 a challenge, but it's ultimately worth it in the long run. He suggests biting the bullet and going for it, and then investing in skills and time to help achieve success.