Income Report

August 2018 – Detailed Financial Report #44 – Net Worth $854,696 | Income $30,839

Gen Y Finance Guy Monthly Financial Reports 9 Comments

My Mojo is BACK! I’m officially out of my slump. Note to self: don’t wait so long to take a vacation next time! However, we did get pitched a curveball 48 hours before we were to depart for our Maui vacation – just a little Category 5 hurricane, no big deal! We waited it out for 24 hours, but realized it would ultimately be best to cancel. So 24 hours before scheduled departure, I donned my Tom Cruise suit and whipped into action. Although I was on my monthly business trip in New York, I spent half the day canceling all of our reservations, many of which were prepaid. Thankfully, we got full refunds on everything due to the severe …

Does This Dad Role Come With Training Wheels?

Gen Y Finance Guy Words To Live By 13 Comments

Warning! Dad-to-be stream of consciousness ahead. It’s really happening. We are three months from bringing another human being into the world. It’s scary. Yet at the same time, it’s so magical. It doesn’t seem possible that life can be formed within another human – in this case Mrs. GYFG. We are blessed with the opportunity to be parents. And I count my lucky stars every time I see that glow coming from my wife – the future mother of our child. I think my fixed gaze makes her a little self-conscious but I’m just trying to soak it all in. She is amazing and I can’t help but think about how great a mother she will be to our baby boy. Deep …

Unconventional

[Guest Post] Unconventional Finance – Part 2

Gen Y Finance Guy Financial Freedom 6 Comments

Today’s post is from a returning guest writer. Sean found GYFG and left his first comment back in October of 2015 and has been a loyal reader ever since. After several months of back and forth in the comments of various posts on this blog, we realized that we had a lot in common with respect to age, upbringing, financial aspirations, etc. We also found that we do things differently in terms of our approach to wealth building. After several private email exchanges back and forth I convinced Sean to write his first guest post to share his unconventional path.  We also entered into a friendly wager to see who will make it to a $1M net worth first. To …

Income Report

July 2018 – Detailed Financial Report #43 – Net Worth $850,450 | Income $50,327

Gen Y Finance Guy Monthly Financial Reports 12 Comments

Here we are again! In last months report, I shared that I was fighting a case of burnout from pushing too hard for too long. This isn’t a new phenomenon, in fact, this is something I personally cycle through a few times a year. These periods of burnout usually rear their heads mid-year and year-end…hence my annual 7-10 day planned vacations in both August and January. As I write this we are 22 days out from starting our ten day trip in Maui. This trip’s gravitational pull is getting stronger the closer we get to it. And the closer we get, the better I feel. In the meantime, I have had to rely on discipline to get me through the …

[Guest Post] Top 4 Reasons Online CRE Investing Might be Right for You

Gen Y Finance Guy Real Estate 2 Comments

Have you noticed? The real estate crowdfunding space has been blowing up. There are now hundreds if not thousands of these platforms out there. Where do you start? How do you know if this type of investment is right for you? Those are fantastic questions and exactly what this guest post from the CrowdStreet team is going to try and answer. This is not a sponsored post but I have recently formed an affiliate relationship with them. I chose to partner with CrowdStreet due to an alignment of investment values. Their filtering process is tight and only allows 3% of all deals reviewed to make it onto the platform for investment. This aligns very well with my preference of viewing …

What if money was no object?

What If Money Were No Object? [Part Two]

Gen Y Finance Guy Words To Live By 7 Comments

“Better to have a short life that is full of what you like doing than a long life spent in a miserable way” – Alan Watts In part one of this series, I pondered the thought-provoking question offered by Alan Watts: what if money were no object? Alan dove even deeper by asking the following: What would you like to do if money were no object? How would you really enjoy spending your life? What makes you itch? What sort of a situation would you like? What do you desire? I’ve been pondering these questions for several months now. In Part One, I promised to share more with you about what life will look like for the GYFG family when money is no object. I also …

When Motivation Wanes Discipline Reigns!

Gen Y Finance Guy Words To Live By 5 Comments

Motivation can be fleeting. It can be on again, off again. Because of its inconsistent nature, motivation can’t be the only tool in your belt to keep you moving forward toward achieving your goals. Or your to-do list. Or even the one task presently at hand. Let’s face it, we have all had days where we lacked motivation. But the difference between the average person and the serial achiever is the achiever’s ability to harness discipline when enthusiasm is low. Do you think Michael Phelps enjoyed every one of his grueling workouts on the way to his Olympic podium position? Was he super stoked at every one of his solitary multi-thousand yards in that pool? I never asked him, but I bet …

LateFIRE – The Beginning

Gen Y Finance Guy Freedom Fighter 16 Comments

This post marks the start of a new series and a new voice to the GYFG community. We all come from different walks of life and each journey is unique. What brings us together is the common goal of financial independence, whether that be LeanFIRE, FatFIRE, or FlexFIRE (I just made that last one up for those of us who want to work forever, but not because we have to). I realized a long time ago that not everyone can relate to my story for many reasons, a gap in age being a big one. Nonetheless, I constantly remind people that it’s not where you start in life but where you finish that counts. “The best time to plant a tree …

Income Report

June 2018 – Detailed Financial Report #42 – Net Worth $806,918 | Income $41,466

Gen Y Finance Guy Monthly Financial Reports 15 Comments

Wow, June was a doozy of a month. I felt like I traveled all around the world in 30 days. That might be a bit of an exaggeration but I did travel for half the month. I made it to Toronto, San Francisco, New York, Lake Mead, and Dana Point. The good news is Mrs. GYFG was with me for three out of the five trips and on those we got to really relax. I got bored on one of my flights and decided to pay an extra $5,000 towards the principal balance on our mortgage. You have to love being able to get Wifi from 30,000 feet up in the air. A few short days later I was walking …

How We Plan To Destroy Our $227,000 Mortgage Balance In 14 Months

Gen Y Finance Guy Mortgage Snowball 36 Comments

Imagine life without the shackles of debt. The GYFG household developed such a vision back in 2015 when we decided to pay off our $350,000 mortgage in seven years. We had already eliminated student loans, car loans, and were in the regular habit of paying off the credit cards every month (always have, always will). We developed what we thought was an achievable plan based on a projected income that turned out to be far less than what we have actually realized. In December of 2017, I shared how well the GYFG mortgage snowball strategy was performing and that we would be mortgage-free in four more years, based on following that original plan. I have been very careful to balance our net worth …