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 …

A Dollar Saved Is a Dollar Earned

Gen Y Finance Guy Financial Freedom 14 Comments

With so much uncertainty in the world, it’s difficult for me to allocate incremental capital to traditional investments right now. I’m currently dumbfounded by the performance of the stock market and I’m waiting to see how this pandemic spills over to the real estate market. While I wait, I continue to build our war chest of cash, while simultaneously looking for creative ways to manufacture financial returns. Since mid-March when the COVID-19 outbreak started dominating our lives, I shifted the majority of my focus to things I could control, like our expenses. I’ve gone through a detailed analysis of all of our outflows looking for opportunities to cut out unnecessary spending. Like many, if not most, we are naturally going …

Income Report

April 2020 – Detailed Financial Report #64

Gen Y Finance Guy Monthly Financial Reports Leave a Comment

First and most importantly: I was finally able to procure some toilet paper for the GYFG household! I still don’t understand why people started hoarding TP as if it were gold but I’m glad we had enough on hand to get us through the initial panic phase of this pandemic. The news hasn’t gotten any better but we all seem to be adapting and moving past the shock of it all. There is still plenty of uncertainty on the horizon with respect to where we go from here…most of which plays out daily well beyond my control. That being said, I believe even more strongly in the importance of focusing on what I can control! Like many, the GYFG household …

Investing During the COVID-19 Pandemic – The Details Behind a $385,000 Capital Deployment

Gen Y Finance Guy Financial Markets 6 Comments

It is crazy to think it was only a few short months ago that the stock market (as measured by the S&P 500) was making new all-time highs. How far it feels like we are from that right now… Were you ready? Was anyone? But how do you plan and prepare for a pandemic? I don’t know if you can, at least not directly. I do believe that financial prudence is always the right path pandemic or not, which I define as spending less than you make, keeping low to no leverage, investing part of your savings (with a margin of safety), and saving the rest for a rainy day (or a really bad storm…otherwise known as a pandemic). Then …

Like a Boss

Annual Shareholder Letter

Gen Y Finance Guy Entrepreneurship 11 Comments

Dear Fellow Shareholders, I have always wanted to be in a position of writing an annual shareholder letter. Before starting my own company I had religiously read all of Warren Buffett’s letters to the shareholders of Berkshire Hathaway. I even bought a book that compiled every single letter from 1965 through 2014. Now after years as a spectator and fantasizer, I finally get to write my first letter to shareholders (all two of us as of 3/31/20 with a third that joined us on 4/1/20). Our Early Beginnings The official founding of the company was February 25, 2019 – the date I first registered a DBA as a sole proprietor. I had started contemplating this business back in June of …

Mint Mobile – A Hell of a Deal!

Gen Y Finance Guy Smart Spending 3 Comments

This post focuses on the expense side of the equation, which is unusual for this blog. But in the midst of the COVID-19 pandemic expenses are one of the only things in my control at the moment. In times of crisis, it’s important to remain calm and focus on those things that you can control. The bright side is that this has actually presented a great opportunity to really evaluate our expenses and place more scrutiny on expenses that may be greatly inflated vs. alternative options on the market. I have been a Verizon customer for years and have never really evaluated the other players – big or small. Supposedly, Verizon is the best in terms of coverage – a …

Income Report

March 2020 – Detailed Financial Report #63

Gen Y Finance Guy Monthly Financial Reports 4 Comments

Did the world change overnight? One minute markets were making all-time highs, unemployment was at a 50 year low, and time was passing by at a pace that “felt” faster than “normal.” Then all of a sudden COVID-19 dominated the headlines as a pandemic sweeping the globe and bringing the world’s economies to a standstill. As I type this, a third of the world is on government order to “shelter in place” in order to try and flatten the infection curve of the virus. The forecasts for unemployment are not looking good as economists say we could see 20-30% unemployment due to mass layoffs across the economy (with travel, hospitality, and restaurants getting hit the hardest). I’ve never seen anything …