Blueprint to a $10M Net Worth [Updated]

Gen Y Finance Guy Financial Freedom 16 Comments

It was 18 months ago as of this writing that I first published my very rough plan to achieve a Net Worth of $10M and $50,000/month in income. When you put together such an ambitious plan that stretches over a 20 year period, you have to expect things to evolve. This post is my attempt to first give a status update …

Savings Rate vs. Compound Rate

Savings Rate – The Most Important Variable to Wealth Building [and the math to prove it]

Gen Y Finance Guy Financial Analysis, Financial Freedom 30 Comments

When it comes to wealth building there are many variables to consider, but as I have stated in my monthly financial reports many times, it’s the savings rate that doesn’t get the attention it deserves. This is especially true in the short run and when you are trying to accumulate wealth as quickly as possible (20 years or less). Yes, …

I wanna be a millionaire

How To Become a Millionaire – Joining the Double Comma Club

Gen Y Finance Guy Financial Freedom 24 Comments

They call it the double comma club and membership is open to anyone. Well, it’s open to anyone that is willing to practice simple disciplines of saving, investing, and living below their means. Let me clarify that when I say “living below their means”, I am not saying you have to live like a college student, instead you simply need …