Income Report

August 2020 – Detailed Financial Report #68 – Net Worth $2,127,140

Gen Y Finance Guy Monthly Financial Reports 7 Comments

August was another crazy month and there doesn’t seem to be a slowdown coming in September in terms of the growth in my business – with the same true for Mrs. GYFG, who is in Real Estate. It has been challenging to manage the growth while also trying to be good (present) parents but we are trying our best. The Mrs. and I have done a decent job cutting it off on the weekends to be fully present with the little man. We are both looking forward to the beach house we rented for the month of November and we both plan to be completely unplugged for at least two weeks out of that month to get a much-needed break. …

What’s Currently Occupying My Mind?

Gen Y Finance Guy Income Streams 15 Comments

I have a lot of little things I’d like to share but none that seem worthy of a full dedicated post. Therefore, I’ve decided to group all those little things into this post with a handful of “bite-size thought-snacks.” They are thoughts I want to document and maybe even drive up some discussion in the comments if anyone has anything thoughts or insights to add. Let’s jump in! Mortgage Rates I think the table below speaks for itself. As I shared last month, rates had become so low that even I couldn’t resist putting a mortgage back on our primary residence. I was born in the 1980s and can’t imagine paying almost 13% or 4X the prevailing interest rate we …

PeerStreet Performance

[Guest Post] How to Become a Young Millionaire

Gen Y Finance Guy Interview 8 Comments

It’s been a while since I’ve shared a guest interview that I wrote for another blog post. Today I will be sharing the post I wrote for Marriage, Kids, and Money. I originally wrote this post back in August of 2018 and it was published in September of 2018. It’s amazing how fast time flies by. I always like reflecting back on what I wrote previously and annotating it with updates from the present day. THE DETAILS How old are you? If you have a family, tell us about them and their ages. Hi, I’m Dom. I’m a 31-year-old married father-to-be. My wife and I were born only 11 days apart and will be 32 later this year. We’re expecting …

Income Report

July 2020 – Detailed Financial Report #67 – Net Worth $2,071,369

Gen Y Finance Guy Monthly Financial Reports 14 Comments

The mantra for the month of July was “Finish Strong!” Once we cross over the halfway point of each year, I get this uncontrollable urge to finish and close as many loose ends as possible. This ranges from open house projects, investments, food in the house, books, blog posts, etc. Below are some of the things I was able to get across the finish line in July: I invested an additional $100,000 into the Industrial Real Estate deal that I wrote about last month. This time it was into a separate LLC that was created to take advantage of the Opportunity Zone tax benefits. I have ~$415,000 in gains from liquidating my equity position in my former employer and this …

Tax Consequence If My Wife Stops Working

Low Probability + High Return Hedge Strategy

Gen Y Finance Guy Financial Analysis 4 Comments

In a prior blog post, I alluded to a new strategy that interests me. It’s one that most will probably not agree with, which makes me like it even more. Please understand that what I’m about to write is not a recommendation for you, nor should it be considered financial advice. Ever since reading Nassim Taleb’s book “The Black Swan” back in 2011, I’ve been intrigued by the concept of investing in what is known in sophisticated financial circles as “tail risk.” Tail risk is a form of portfolio risk that arises when the possibility that an investment will move more than three standard deviations from the mean is greater than what is shown by a normal distribution. – Investopedia In …

Income Report

June 2020 – Detailed Financial Report #66

Gen Y Finance Guy Monthly Financial Reports 8 Comments

It’s hard for me to believe that everything is just going to go back to normal overnight. Or even that we’ve seen all the pain we are going to see during this pandemic. But I also acknowledge that I could be wrong – either in my timing or hypothesis of what is likely to happen next. There is no doubt many businesses have or will fail due to the blow of this pandemic (and the resulting restrictions to “business as usual”). On the other side of the coin, there are going to be other companies that thrive in the “new world.” My business (software consulting) is one of those businesses that is not only surviving but thriving in this environment …

The Only Fortune You Have To Spend Down To Zero

Gen Y Finance Guy Words To Live By 7 Comments

Poof! The first six months of 2020 are officially in the rearview mirror along with the 15,724,800 seconds they represented. And you thought money was slippery? At the end of the day, money is only a measure of how much time freedom you have. If you think about the 4% rule, its basic premise is to accumulate 25X your desired annual burn rate in order to sustain you for a 30+ year “retirement” (in parentheses because everyone’s definition of what this looks like is different). You have to dive a level deeper to realize that 25X before any appreciation, dividends, interest, or rental income is really a measure of time. It represents 25 years worth of living expenses – in …

Why Long-Term Investors Should Consider Dividend Stocks

Gen Y Finance Guy Financial Markets 1 Comment

Today we have a guest post from the folks over at Sure Dividend who will be sharing why they think long-term investors should consider dividend-paying stocks. I won’t steal their thunder as to why they recommend this strategy, but you’ll soon find out. Sure Dividend, the floor is yours… Not all stocks are created equal. Stocks are generally grouped into three main categories: value stocks, growth stocks, and income stocks. Sometimes a stock can offer a mix of two, or even all three, categories. At Sure Dividend, we believe stocks that offer such a blend of value, growth, and income can be the best investments for long-term wealth creation. This is why we recommend investors consider high-quality dividend growth stocks …

Income Report

May 2020 – Detailed Financial Report #65

Gen Y Finance Guy Monthly Financial Reports 4 Comments

Time has started to move at an increasingly accelerated pace for the GYFG household. It might be because of a slow but steady march back to some level of normalcy after months of “lockdown.” Here are a few highlights from May: We made a trip out to Lake Meade for the Memorial Day Weekend (with other people). We ate in a restaurant not once but three times and were served by…people. We had a BBQ at our house with friends (there are those people again). We went to the beach with friends and again there were lots of other people. As you can tell, the theme here was that we were not locked down in our house for the entire …

Chasing FIRE Interview #12 – With Rich at Sport of Money

Gen Y Finance Guy Chasing FIRE Interviews 2 Comments

I’m no longer officially accepting Chasing Fire interviews but today’s guest is someone that I had originally invited to participate so when he reached out to see if the opportunity was still available I agreed to share his interview. I did this because I think Rich has a unique story and he also has a Net Worth in excess of $10M. I have always enjoyed reading and listening to interviews to learn how people got to where they are, so as to learn from the successes and failures of others. Each individual’s story and path is unique, and we can certainly gain insights from those generous enough to share their stories. Rich, the floor is yours – take it away! Tell us about …