'It's a b----, but you gotta do it': Charlie Munger says that your first $100K i...

Ah, the sweet sound of six figures.

Respected investment and money management experts agree that amassing your first $100,000 is a critical early milestone on the path to long-term wealth.

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Billionaire investor Charlie Munger may be the most famous advocate for the theory, based on his colorful advice offered more than two decades ago to an audience member at an annual meeting of Berkshire Hathaway shareholders.

“It’s a b—-, but you gotta do it,” Munger said. “I don’t care what you have to do — if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.”

Why $100K matters so much

Why is that figure so important — especially when you consider that for many investors and savers, the goal is often much higher?

After all, $100,000 back in 2002 now amounts to roughly $166,000 in today’s dollars. And with inflation in the U.S. still high, that sum doesn’t go as far as when Munger delivered his cheeky take.

Then again, Munger didn’t elaborate on just how much that first $100,000 could grow over time, even if left alone. Invested at a modest 5% return, you wouldn’t have needed to add a single penny over 21 years to see that stash grow to $278,596, per compound interest calculators like this one.

The lesson? What comes before — and after — that first $100,000 makes all the difference.

Consider this example: Debbie, a young worker who diligently saves and invests $10,000 a year through her employer’s 401(k) plan and nets an annual return of 7%, would need slightly less than eight years to reach a net worth of $100,000.