Financial Freedom

The Five Major Milestones of Financial Independence

Gen Y Finance Guy Financial Freedom 33 Comments

In the personal finance blogging community, we bloggers can disagree on a lot of things. However, one thing we tend to all agree on is what constitutes reaching the all-coveted status of Financial Independence. Many, including myself, believe in the 4% rule (as a guideline), that defines Financial Independence as a portfolio of 25X your annual “burn rate,” which is the amount of money you spend annually to maintain your desired lifestyle. In other words, the 4% rule is the best guide we have to reaching FIRE (Financial Independence, Retire Early). Additional resources on the 4% Rule: The Trinity Study (The study that started it all) The 4% Rule: The Easy Answer to “How Much Do I Need for Retirement?” FIRE Equation: The …

Extra! Extra! Read All About It! Rich Uncles Now Available in All 50 States!

Gen Y Finance Guy Real Estate 4 Comments

The moment we have all been waiting for has finally arrived! The Rich Uncles real estate crowdfunding platform originally launched as a California based fund that invested in Commercial Real Estate, but was only available to California residents only. Then it launched its national fund, which opened up the investment opportunity to many states, but not all 50. That is…until now! I found Rich Uncles back in 2015 when I invested in their first fund, the Rich Uncles Real Estate Investment Trust I. The fact that I was a new investor in the crowdfunding space and Rich Uncles was a relatively new company, led me to tiptoe in by investing $5,000, and then to sit back and just watch. I wanted to …

Income Report

April 2018 – Detailed Financial Report #40 – Net Worth $754,208 | Income $33,587

Gen Y Finance Guy Monthly Financial Reports 14 Comments

Another month ticks by, and with it brings another financial update. Based on the prior two posts I published, you will notice that April was a time for reflection and self-correction. It’s easy to get swallowed up and consumed by the wealth building game. I had to remind myself not to get so consumed building wealth that I forget to build a life. I also had the epiphany that there was no point in being wealthy if I wasn’t both happy and healthy. During that reflective time, I reminded myself why I got into the game in the first place, which was to build enough wealth to get to a point where money was no object. When money is no object, …

What if money was no object?

What If Money Were No Object? [Part One]

Gen Y Finance Guy Words To Live By 15 Comments

I discovered the video below more than three years ago. It really stuck with me, and I knew there would eventually be a time to share it in a blog post. That time has finally arrived. To place this in the context and history of GYFG: I started publicly sharing my monthly financial reports about three and a half years ago (January 2015). In that first monthly financial report, I shared my Big Hairy Audacious Goal of achieving a net worth of $10M and a monthly income of $50,000/month. Pretty “BH&A,” as back then our net worth was just shy of $200K and our monthly income was projected to average ~$15K/month (or $178K annually). But fast forward to 2018 and our net worth …