2016 Portfolio Performance

Equity Portfolio Update #5 [+21% @ 12-31-16]

Gen Y Finance Guy Investing 12 Comments

We have officially closed out 2016, thus the need for another peek into the equity portfolio. As many of you know that have been reading for any length of time, every month I put together a very detailed financial report that details out gross income, expenses, net worth, savings rate, and progress on the 7 year 3 month mortgage pay off goal. Since the report already pushes 3,000 – 4,000 words a month, I thought it would be more appropriate to provide details of the equity portfolio in an entirely separate post. Also, I don’t really see the benefit of updating this on a monthly basis, quarterly should be just fine. One of the guiding tenets of this blog is that …

Earn Save Invest

[Guest Post] A High Income is the Road to a High Net Worth

Gen Y Finance Guy Financial Freedom 17 Comments

Today we have a guest post from ESI Money. I only recently found his site a few months ago, but totally resonate with everything he writes. He has leveraged his career to not only become a very high earner, but through that career built up a net worth in excess of $4M and retired early at 52. Over at his blog he writes about the three major pillars to building wealth; Earning, Saving, and Investing. I am drawn to his site because he bust the myth that you can’t get rich working for someone else. I have invited Mr. ESI to show us how a high income (something we focus on a lot around this community) is the path of least resistance …

New Year, New Me

Monthly Goal Check-in #12 – 2016 Full Year Review

Gen Y Finance Guy Goal Setting 15 Comments

What a year 2016 turned out to be. As many of you who have already read my short list of 2017 goals know, this year I am guilty of setting too many goals. I have reached a point in my life where it makes a lot more sense to set less goals with more focus. I have been telling people that in the past it was all about going broad (a mile wide and an inch deep) and in 2017 and beyond it is about going deep (an inch wide and a mile deep). That’s not to say I would change my approach that served me well over the past decade, just that this year proved it was time to …

Churning the Chase Reserve for $15,305 per Hour

Gen Y Finance Guy Side Hustle 21 Comments

Last year, I shared a post that laid out the history of my credit card rewards.  I’m talking about signing up for a new credit card just for the free money. Back in June, I shared about signing up for the Chase Sapphire Preferred card, and at the time it was offering a 45,000 point bonus (with the first year annual fee of $95 waived). In order to get the 45,000 points, I had to spend $4,000 on the card in the first three months as a new cardholder (this accounted for 40,000 of the bonus points). Then if I added an authorized user I would get an additional 5,000 bonus points (no cost to add an authorized user). The cash …

December 2016 Financial Report

December 2016 – Detailed Financial Report #24 – Net Worth $527,668 [+66.1% for 2016]

Gen Y Finance Guy Monthly Financial Reports 33 Comments

GYFG here checking in for the December monthly financial report. If you have been reading these reports for a while you will notice that I introduce each month with the same intro month after month. I do this for two reasons; a) for the newbies to the site (which make up about 50% of the sites traffic); and b) to remind everyone what these reports are all about. By all means if you have read the intro at least once, then please feel free to skip down to the “Summary of December 2016” section where the new content begins (click the orange link to be taken there automatically). For those of you that are new around this corner of the internet, I …

Simple Wealth Building

Wealth Building Made Simple: Make Sure You Get A Little Richer Every day

Gen Y Finance Guy Financial Analysis, Financial Freedom 10 Comments

Note: Just to clear up any confusion, although I say “get a little richer every day,” I don’t mean this in the literal sense. The idea is to get a little richer every day on average. Personally I calculate this by taking my total savings for the year dividing by 365 days. I have known since I was a little kid that I wanted to be rich. It wasn’t until I got to college that I knew I was going to be rich. As you can imagine, I started reading all the books, filled with all sorts of strategies to accumulate wealth. It was very stimulating to fill my head with all these clever ideas on building wealth. Every day …