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Passive Income – We Need $120,000 To Cover Our Living Expenses – Where Are We And How Do We Get There?

In Income Streams by Gen Y Finance Guy33 Comments

Reading Time: 3 minutesLate last year I shared a post with you guys on increasing the GYFG household income to $600,000 annually, and in that post there were two concerns that I said I wanted to start addressing in 2017: Concentration Risk – In 2016, approximately $27,000 of the $340,000 that we earned came from passive sources (or about 8%). The majority of the …

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How I Plan to Increase My Annual Income to $600,000

In Income Streams by Gen Y Finance Guy24 Comments

Reading Time: 5 minutesAs long time readers, many of you have picked up on the fact that I am a big believer in setting goals and long term visions. This is exactly why I share my annual goals and monthly progress in achieving those goals. It’s also why I shared my own blueprint in achieving a net worth of $10M and $600,000 in …

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Anatomy of a Side Hustle: How I made $18,000 at an effective rate of $100/hour

In Featured, Income Streams, Side Hustle by Gen Y Finance Guy32 Comments

Reading Time: 7 minutesYour 9 to 5 will make you a living, but your 5 to 9 will make you alive. -Nick Loper, Side Hustle Nation A side hustle is anything you do outside of your main hustle (your JOB) to earn money. I personally think that everyone should have a side hustle, even if only for the tax benefits. The extra income is …

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Financial Stats for Gross Income and Net Worth Now Have a Dedicated Page

In Financial Freedom, Income Streams, Monthly Financial Reports by Gen Y Finance Guy2 Comments

Reading Time: 1 minuteWhen I first started this blog last year, I knew that I wanted to provide full transparency to my readers. The best way to do this is to post my own numbers. The dedicated Financial Stats page, which can be found under the Menu at the top right of this website (click the menu icon and the pages will pop out from the …

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The Lyft Experiment

In Financial Freedom, Income Streams, New Rules, Share Economy by Gen Y Finance Guy3 Comments

Reading Time: 3 minutesThe best thing about this day and age is there are so many alternative ways to earn money. In a previous post I talked about how I was embracing the “Share Economy,” whereby you basically find a way to earn money with the “excess capacity” in the things you already own. A few posts ago I talked about leveraging the share …