how i made $100k at 20 by moving FAST with money

About this video

• Video Title: how i made $100k at 20 by moving FAST with money
• Channel: IgnXander
• Speakers: [Speaker not identified in transcript]
• Duration: 00:06:55

Overview

This video explains how the speaker achieved a net worth of over $100,000 by the age of 20 by acting quickly with their finances and investments. It covers strategies for investing in the stock market, seizing short-term investment opportunities, making timely purchases, and leveraging human capital through quick career and skill development.

Key takeaways

• Start investing early: The speaker began investing in the stock market at 18, emphasizing that compounding interest requires a long time horizon. This early start generated significant returns and dividends.
• Seize opportune investments: The speaker advocates for quickly acting on investment opportunities that present clear value, even if they are not long-term plays, citing an example of profiting from a stock during a tariff-related market downturn.
• Timely purchasing: Being fast with money also applies to purchases. The speaker bought a car when they found the right deal, avoiding price increases and gaining immediate enjoyment, demonstrating the cost of waiting.
• Invest in human capital: Moving fast also means quickly pursuing job, internship, or business opportunities that align with one's beliefs, rather than waiting for external validation or permission.
• High-yield savings accounts: The speaker suggests using high-yield savings accounts to earn passive income (3-4%) on money, which is a more beneficial alternative to traditional low-interest bank accounts.