2017 - Page 5 of 6 - Gen Y Finance Guy

FOCUS: Follow One Course Until Success

Gen Y Finance Guy March 22, 2017 Words To Live By

Do you find yourself getting distracted from the core of what you set out to accomplish this year? If so, it’s an appropriate time to remind you to FOCUS and to recite what this acronym stands for: Follow One Course Until Success It’s natural to get off course. If you think about it, a space craft headed to the moon is only on course 1% of the time. The remaining 99% of the time it is actually course-correcting, buffeted off a straight trajectory by unforseen factors and occurrences, redirecting itself back on track to its destination. The important thing is that the space craft has the right systems and disciplines in place to redirect back towards the goal when it gets off course. Like the space …

Income Across the USA – What Does It Take To Be In The Top 5%? Top 1%?

Gen Y Finance Guy March 18, 2017 Financial Analysis

As the income of the GYFG household has continued to grow, being the data-obsessed fellow that I am, I started to wonder where we ranked against other earners across the United States. Most people benchmark their investment returns, so why not benchmark our income? Lucky for us, the NY Times has made this extremely easy with the interactive tool they created (based on data from 2012, a little dated, but should be close enough). (Sidebar: I continue to believe that we live in the best time in history for making money. It has never been easier. THE INTERNET HAS CHANGED EVERYTHING!!! Although I recognize that inequalities still exist, the entry barrier to earning big has never been so low, nor has the …

February 2017 – Detailed Financial Report #26 – Net Worth $532,590 | Income $23,893

Gen Y Finance Guy March 12, 2017 Monthly Financial Reports 14 Comments

GYFG here checking in for the February 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 February 2017” 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 …

PeerStreet – Hard Money Lending For The Retail Investor

Gen Y Finance Guy March 5, 2017 Investing 47 Comments

I’m absolutely stoked to share the details of my recent visit with the founders of PeerStreet and what I’m dubbing my favorite investment of 2017 and beyond. This is going to become a very substantial piece of my overall asset allocation. It’s not often I get very excited about an asset class, but this is different, because PeerStreet is in a league of their own. My first introduction to PeerStreet was back in May of 2016, when Mr. Money Mustache himself wrote about his new investment experiment on the PeerStreet platform. Although I was immediately interested, my wife and I had just made a $50,000 hard money loan the old fashioned way (i.e., big chunk of capital, a huge concentration of …

Big Money Moves in 2017 – Putting Over $250,000 To Work

Gen Y Finance Guy February 27, 2017 Financial Freedom 38 Comments

Do you plan your big moves out in advance? Or do you just fly by the seat of your pants? I believe that if you want to do something extraordinary in any aspect of your life, you have to be pre-meditated. That’s not to say there isn’t room for serendipity, but I can’t stress enough the importance of being intentional with the decisions you make, that will ultimately act as the stepping stones to your desired destination. Those who fail to plan, plan to fail! I don’t want you to look back on your life 40 years from now, only to be disappointed that you were not more intentional with the direction of your financial life. The reason that I …

[Guest Post] Turn Your Side Hustle Into Your Main Hustle

Gen Y Finance Guy February 16, 2017 Side Hustle 15 Comments

Hey! I’m Claudia Pennington, a digital marketing consultant and personal finance blogger over at TwoCupHouse.com where I’ve been writing about the journey to debt freedom and financial independence. Our personal finance journey began in early 2015 when we were living paycheck to paycheck. We had some money saved in our respective retirement accounts, but we struggled to keep money in our savings and checking accounts. Every dollar we made, we spent (and then some). We had a credit card balance, a mortgage, and student loans. We tried for years to get ahead of our money, but nothing stuck. We’d attempt to get out of debt, but then summer would roll around and we’d use credit cards to fund home improvement. …

January 2017 – Detailed Financial Report #25 – Net Worth $524,993 [-0.5% for 2017 YTD]

Gen Y Finance Guy February 13, 2017 Monthly Financial Reports 15 Comments

GYFG here checking in for the January 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 January 2017” 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 …

Using Life Savings To Save A Life – A Financial Decision Made From The Heart

Gen Y Finance Guy February 4, 2017 Words To Live By 57 Comments

Today we are going to deviate from the normal finance content that I usually publish. Don’t worry this story will still have a financial decision that had to be made, but instead of being optimized by the brain, it was instinctively made by the heart. Remember this sites mission is: “To Humanize Finance, Build Wealth, and Reach Financial Freedom” This means sometimes we have to skip all the rational math and go deep on something that is extremely EMOTIONAL and HUMAN. Many of you on my email list have received a good back story of where I come from. Others that have found me through other blogs know more about me than some of my closest friends. But then, there are plenty of you …

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

Gen Y Finance Guy January 30, 2017 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 …

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

Gen Y Finance Guy January 23, 2017 Financial Freedom 18 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 …