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Is it hard to save 100k?

The first $100,000 is the hardest. In fact, for most people, saving their first $100,000 is one of the most difficult milestones to achieve. That's because when you're starting from $0, you don't have money already working for you and helping you to amass more wealth.

fool.com - When Will You Save Your First $100000, and Why Does It Matter?

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Building wealth is typically a slow process, especially when you're just getting started. In fact, for most people, saving their first $100,000 is one of the most difficult milestones to achieve. That's because when you're starting from $0, you don't have money already working for you and helping you to amass more wealth. So, when will you hit that milestone and why does it matter? Here's what you need to know.

How soon to your first $100,000?

Saving your first $100,000 will be a matter of how much you save and how successfully you invest. The table below shows when you'll reach $100,000 based on your monthly investment and two different rates of return. Monthly Savings Years to Reach $100,000 With a 6% Annual Return Years to Reach $100,000 With an 8% Annual Return $100 29.92 25.50 $200 20.92 18.33 $500 11.58 10.58 $1,000 6.75 6.42 $1,500 4.83 4.67 $2,000 3.75 3.67

Why does this milestone matter so much?

Saving your first $100,000 can be really hard if you start from $0 because you don't have money working for you at the beginning so every dollar you invest must come from your paychecks. But, once you've amassed a six-figure nest egg, the assets you've bought will earn returns that can be reinvested. It won't just be your own money that bulks up your account balance. The money already invested grows wealth without additional assistance, so you won't have to save as much to hit your next $100,000 or the next $100,000 after that. In other words, the power of compounding makes wealth building easier, and the sooner you hit $100,000, the more time you have to harness that power. The table below shows how much $100,000 could turn into by age 65, depending on when you've first amassed these funds (assuming a 7% average annual return). If You Save $100,000 by This Age... ...What It Will Be Worth at 65 30 $1,070,000 40 $542,806 50 $275,928 60 $120,446 64 $107,001 If you can save $100,000 early in life and give it lots of time to work for you, it can multiply many times over. That's why it pays to save as much as you can when you're younger. Your early sacrifice will be well worth it in the end.

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Which course is better marketing or HR?

There is no better or non-better stream in MBA, both Marketing and HR are important aspects in an organization and both have equal importance, exposure, learning and growth. It depends on you what you wish to be in future, your decision of stream should be based up your future goal. Hope this helps. All the best.

careers360.com - In MBA which is better finance or HR or Marketing? Plz anyone suggest ...

Hi Nikhil,

This is a very subjective question. Different people would prefer different options here. So I would suggest that your decision should depend upon two things- a) what are your interests and b) what is your career goal. Marketing is an area where you have to be very creative and original. If you are a person who is both, then this one is definitely for you. This field would require coming up with new ways of marketing the product and creativity is an essential required for this. HR in my personal opinion doesn't provide more job opportunities as compared to Marketing and Finance. You can can get jobs in the placement cell or the recruitment cells of the companies. Finance is definitely a good option if you are better with your accounts and numbers. This also has better job prospects. So Nikhil, choose wisely according to your interests and your future goals and ambitions. Hope this helped :)

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