CHASING FIRE INTERVIEW SERIES

FIRE Starter: What Would Personal Finance Look Like If It Were Easy?

Zach Words To Live By 1 Comment

Zach spent his first three posts providing us with nine actionable tips for savings, investing, and growing wealth in your 20s (part I, part II, and part III). The information in that series has the power to change the rest of your life for those who follow it. He then shared “How Creating a Side Project Can Boost Your Marketability and Income” and “The Power of Habits.” Today Zach is going to discuss what personal finance would look like if it were easy. For the newbie, personal finance can be daunting, scary, and frankly unmanageable by a mere mortal. But what if you could suddenly have it all made easy for you? Zach is going to help humanize the whole …

Income Report

June 2019 – Detailed Financial Report #54 – Net Worth $1,220,368 | Income $50,885

Gen Y Finance Guy Monthly Financial Reports 3 Comments

Time continues to race by at Mach speed. Because time is racing by so fast, I’m writing this two days before the end of the month because I don’t know when I will have the next opportunity to carve out the time to get this out on a timely basis. Sometimes you just have to seize the moment of opportunity. As I type, Mrs. GYFG is at her hot yoga class, my dogs are laying at my feet, and my son is taking his morning nap. I woke up at 3:30 am and couldn’t sleep, so I got up to work on my new business until around 7:00 am when my wife and son woke up. After my wife left …

Don’t Be So Quick To Dismiss Paying Your Mortgage Off Early

Gen Y Finance Guy Mortgage Snowball 15 Comments

People can tend to get dogmatic and dismissive of paying down a mortgage early. But I really think this is a function of pure ignorance. Maybe they don’t really understand how to evaluate this option against the conventional wisdom that is dished out on the daily. At first blush, it may appear that I have a bias since the GYFG household chose the path to become mortgage-free (accomplished in just under five years from when we set this goal). But wait – bias appearances can be deceiving! In theory, I actually agree with those who advocate keeping a mortgage for as long as possible and to invest what it would have taken to pay off the mortgage into the stock …