10 Year Vision

[Guest Post] 10-Year Vision Series # 1 – Founders of The Mastermind Within

Gen Y Finance Guy Goal Setting 6 Comments

A few months ago, I shared the letter I wrote myself from the perspective of 10 years into the future, the idea was to write describe your life based on anything you wanted or wanted to accomplish (as if it had already happened). After publishing that post and inviting guest submissions, the bloggers at “The Mastermind Within” volunteered to participate. Below you will find the letters they wrote as a vision for their lives over the next 10 years (both Erik & Henry participated). Dear Henry William Ross Jones, March 23rd 2017 was one of the most important days in your life.  I would not be writing to you the man I am today 10 years in the future.  You took …

Help Me

From the Mailbag #2 – I Want More, Can You Help?

Gen Y Finance Guy General Information 3 Comments

One of the biggest joys I get out of this blog is receiving emails from YOU the reader. Sometimes it’s an email thanking me for the inspiration that has led to financial epiphanies in YOUR own life. Other times it’s an email asking for guidance (I don’t give advice, just ideas, a little CYA). Recently a reader (Scott) reached out to me, explaining his current situation, and like many people out there he wants more for his family. The difference is he is taking the first step by acknowledging he is not where he wants to be. And by sending me an email asking for guidance, he hast taken the second step. Now Scott has the last and most critical step, …

April Income report

April 2017 – Detailed Financial Report #28 – Net Worth $550,347 | Income $26,086

Gen Y Finance Guy Monthly Financial Reports 7 Comments

GYFG here checking in for the April 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 April 2017” section where the new content begins. For those of you that are new around this corner of the internet, I wanted to fill you in as to what these …

How much a car cost

Cars Are Expensive – Really F*cking Expensive – They Destroy Wealth

Gen Y Finance Guy Financial Analysis 28 Comments

A few months ago I shared a post about helping my brother get a new car after he totaled his previous one. It really got me thinking about how much it was costing the GYFG household to have two cars. Unfortunately, we bought our cars before we had solidified our financial philosophies. My wife and I both bought new cars within a 12-month period of each other. I bought my Hyundai Sonata in April of 2011 for $32,000 and we bought my wife’s Hyundai Tuscon in April of 2012 for $32,000. Back then we were only earning around $170,000 combined.  Yes, we spent 38% of our annual income on cars! It makes me throw up a little in my mouth when …

Lending Money to Family

[Guest Post] To Lend or Not to Lend: How to Know When to Give Money, Lend It or Say No

Gen Y Finance Guy General Information 9 Comments

Someone you’re close to asks you for money. Many of us have found ourselves at this crossroad at some point. These are typically trying times when you’re torn between extending financial help to a loved one or sticking to your guns to avoid an uneasy or strained relationship in the future. They say that money and friendship rarely mix, and this becomes evident when a close friend or family member asks for a substantial sum of money. Knowing how and when to draw the line between financial responsibility and family expectations can save you a myriad of potential personal problems. In fact, according to The Simple Dollar, the bitter truth is that regardless of the nature of the outcome or …