Build Financial Wealth

[Guest Post] Key Tips On How To Build Financial Wealth For More Money To Retire On

Gen Y Finance Guy General Information 2 Comments

Most people don’t want to work forever. At some point in their lives, they hope to retire – or at least have the option to retire. Unfortunately, there are too many people who think that they’ll never accumulate the wealth that they need to retire. Others get wrapped up in gambling or other get-rich-quick schemes, hoping to skip the years of hard work required to accumulate sufficient wealth to have financial independence. While everyone’s background and financial situation is different, what follows are several tips that can help build wealth over time, moving you closer to financial independence and potential retirement. Pay yourself first. Everyone should be saving a portion of each paycheck that they get. This money should be …

Tax Consequence If My Wife Stops Working

Taxes & Income – What If My Wife Stopped Working?

Gen Y Finance Guy Taxes 14 Comments

The GYFG household has been in a fortunate situation in that we have been able to live the DINK (dual income no kids) lifestyle. This has had a huge impact on our ability to generate a high income, leading to a high savings rate, and thus a larger net worth faster than we otherwise would have. Seriously, it’s a huge advantage to have a two income household. However, we find ourselves planning the next chapter of our lives, starting a family. In recent discussions, we have been exploring what it would mean to our finances if my wife were to leave her job to be a full-time mom. This would probably only be for a few years and there is …

July 2017 Net Worth & Income

July 2017 – Detailed Financial Report #31 – Net Worth $600,108 | Income $46,442

Gen Y Finance Guy Monthly Financial Reports 16 Comments

GYFG here checking in for the July monthly financial report. If you have been reading these reports for a while you will notice that I have 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 site’s 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 July 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 reports …

Best Checking Accounts

[Guest Post] Take it to the Bank: The Best Checking Accounts in 2017

Gen Y Finance Guy General Information 4 Comments

Over the last decade or so, the banking industry has grappled with all-time low interest rates, a languid economy and tough regulations. Against this backdrop, the going has been tough for most banks. However, banks are now getting proactive and reshaping their financial priorities to enhance their performance. In a nutshell, they are looking to make things “better and “safer” through better risk management and sound strategic planning. Clearly, your priorities should be no different, especially at a time when financial uncertainty is the only constant. Features Offered By the Best Checking Accounts Unless you’re comfortable stacking money under your bed, you’re going to need a checking account. Put simply, a checking account is an account that that allows you …