Part 2/8:
The transition from a four-digit bank account to five digits represents more than just a number; it signifies overcoming a notable psychological hurdle. According to recent statistics, the average salary in the United States hovers around $66,000. If you set aside 20% of this income, it still takes nearly a year to accumulate just $11,000, assuming one can even manage that much in savings given living expenses and debts.
When you finally save $10,000, it confirms that you have developed solid financial habits. Crossing this milestone can serve as both a morale boost and a confidence builder, indicating that you are on the right track for building wealth.