September 2017 Income Report

September 2017 – Detailed Financial Report #33 – Net Worth $630,223 | Income $25,616

Gen Y Finance Guy Monthly Financial Reports 9 Comments

GYFG here checking in for the September 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 September 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 …

Don't Panic

How To View & Manage Your 401K To 7 Figures

Gen Y Finance Guy Financial Markets 15 Comments

Before I get into what I have been doing wrong with my own 401K, let me tell you what I have done right. The one thing I have consistently done is contributed to my 401K and in most years maxed it out. That said, there are several mistakes that I have made over the past 8 years: (1) I have held way too much cash when I should have been fully invested. (2) I withdrew $10,000 as part of the downpayment on the house we now live in, because it was allowed penalty-free (but not tax-free). (3) I didn’t take full advantage of the max contribution limits. (4) I borrowed from my 401K not once but twice. Since I started …

Blogs 3rd Birthday

3 Years of Blogging – 360,000 Pageviews – $8,000 in Revenue – And More…

Gen Y Finance Guy Blogging

Three years since I pushed “publish” on the first post of this blog! It’s almost hard to believe. I started out writing these reflective posts at every six-month milestone, but now that’s morphed into a yearly update since my last update was the blog’s two-year anniversary. My long-time readers know by now that I tend to view most things through a numerical lens, so I’m going to dive deep into those later in this post. My hardcore belief is that “the path is all math,” and I truly believe that you can neither manage nor optimize that which you don’t measure. Maybe I measure more than I need to, but since the numbers never lie, I probably won’t ever stop …

Interview with Adam Chudy

My Interview With Adam Chudy – Some New Tidbits About GYFG

Gen Y Finance Guy Interview 5 Comments

I have done numerous interviews and blog posts across the personal finance blogosphere and after enough time passes I like to share those pieces with you here on this blog. I hope you enjoy the interview below and learn a few things you didn’t know about GYFG. This interview was originally published on Adam Chudy’s blog. Please enjoy! What’s your story? Feel free to share in any free form you choose about how you got on the blogger track, your current or prior career, and why you are interested in the personal finance / personal improvement space. This can be multiple paragraphs. I like to tell people that I am living the American Dream and creating my own Rags to …

August 2017 Income & Net Worth

August 2017 – Detailed Financial Report #32 – Net Worth $609,546 | Income $26,670

Gen Y Finance Guy Monthly Financial Reports 8 Comments

GYFG here checking in for the August 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 August 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 …

Physician On Fire

[Guest Post] Interview with Physician on Fire

Gen Y Finance Guy Freedom Fighter, Interview 11 Comments

Today we have a fascinating guest taking over the blog to tell us a bit about his freedom fighting journey. He’s the first doctor we have showecased on the blog, and has already become financially independent (with a net worth around $3M), and work has therefore become optional. He hasn’t pulled the plug on the day job just yet, but he is moving to a reduced work schedule. You could say that he is suffering from a chronic case of “one more year” syndrome. Without further ado, I introduce to you, Physician on Fire… 1) Who are you and what do you do? What is your story? How are you fighting for your Freedom? Where did you start, where in the journey are …

2017 Big Money Goals

Big Money Moves – Mid-Year Check-Up – What Has GYFG Been Up To?

Gen Y Finance Guy Goal Setting 7 Comments

Way back in February I shared 5 big money goals and I thought with only 4 months left to the year that it would be a good time to circle back and see how I’m doing against those goals. It’s probably also a good time to update things that have changed vs. the plan I laid out months ago. Before we jump into the financial goals I laid out earlier this year, I would like to share a very relevant quote with you: No battle plan ever survives contact with the enemy. The short of it is that not everything has gone according to plan in 2017. That said, I can’t really complain because things are still moving up and …

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 …