The late Charlie Munger said, 'you only have to get rich once,' but the first $100K is hardest. How to master the climb

Investment Strategies - The article emphasizes the importance of finding steady wealth-building vehicles and the right brokerage platform for long-term investments [1] - Employer-sponsored 401(k) plans are highlighted as a good starting point for retirement savings, with a recommendation to have at least 10 times one's annual income saved for retirement [2] - The 4% rule for retirement withdrawals suggests that a $700,000 retirement fund would yield $28,000 annually, not including Social Security benefits [2] Investment Insights - Achieving the first $100,000 in investments is noted as the hardest step, with advice to focus on consistency rather than aggressive strategies [3] - The article references Charlie Munger's investment wisdom, which encourages retail investors to follow a long-term approach [3][4] Alternative Investment Opportunities - The article discusses the potential of private markets, particularly venture capital, which has traditionally been inaccessible to retail investors [9] - Fundrise has disrupted this by offering a venture capital product that allows investments starting at just $10, focusing on valuable private tech companies [10] - The U.S. home equity market, valued at $34.9 trillion, is presented as a reliable wealth-building avenue, with Homeshares providing access to owner-occupied homes through a fund [20][22] Real Estate Investments - Multifamily real estate investing is highlighted as a protective strategy due to multiple rental income sources, with Lightstone DIRECT offering direct access to institutional-quality multifamily opportunities [14][19] - The article mentions that investing in shares of vacation homes or rental properties is now possible with platforms like Arrived, allowing investments starting at $100 [24][25] Art as an Investment - Fine art is presented as an asset class with low correlation to the market, with Masterworks allowing retail investors to own fractional shares of iconic artworks [28][29] - The article notes that Masterworks has sold 25 artworks, yielding net annualized returns of 14.6%, 17.6%, and 17.8% for assets held longer than a year [30]