Income Report

Q4 2022 – Detailed Financial Report #88 – Net Worth $10,245,337

Gen Y Finance Guy Monthly Financial Reports 4 Comments

Wow! I never imagined that it would take less than 100 financial update posts to reach my $10M net worth goal, yet here we are. Of course, I did switch from monthly to quarterly updates this year but that still would have put me at 96 posts vs. 88. It’s a little bittersweet that this is the last financial update in this format that I will be providing. My plan is to move to more of an annual letter format that will be part financial update, part reflection, and part projection. I have to spend time really thinking through what I want to share going forward. A few call-outs: (1) I struck a sweet deal to sell the remaining 40% …

How I Turned $267 Into $20,500,000

Gen Y Finance Guy Financial Freedom 4 Comments

One of the things I love about blogging most is the historical reference points left in the posts I publish. I started a business in early 2019 with the full intention of selling it. Some people dream of building a business that they run and then pass on to the next generation. In contrast, the business I created was built to sell from inception to help accelerate my big hairy audacious goal of achieving a $10,000,000 net worth. The original goal was to accomplish this in 20 years or by the time I was 48. Fortunately, that timeline has proven to be very conservative and has actually happened in approximately seven years – hello $10,000,000. I say “fortunately” because my …

Hello $10,000,000!

Gen Y Finance Guy Financial Freedom 22 Comments

Seven years ago I got this wild idea to chase an absurd net worth goal. At least it seemed absurd at the time to the outside looking in. We had just ended the year (2014) with a net worth of $181,364 and I published my $10M goal in early 2015. In that moment, we were only shy of hitting that goal by $9,818,636. Yeah. Crackpot or not, I allotted 20 years to hit this goal by the time my wife and I would be 48 years old. Spoiler alert: Not only did we exceed that crazy original goal, we did it in less than seven years. In the original blueprint, I had called out the fact that I believed that …

Income Report

Q3 2022 – Detailed Financial Report #87 – Net Worth $7,933,251

Gen Y Finance Guy Monthly Financial Reports 2 Comments

The end of Q3’2022 was a significant milestone as we collected the third and final payment related to selling a majority share (60%) of the business I founded almost four years ago now. Not only did we hit the one-year anniversary of that transaction but it represents another inflection point in how and when I will work. If you were to study the weekly hours I put in over the last 24 months you would see a slope that was declining as I transitioned from 80-hour work weeks down to 32 – 45 hour work weeks (been here for most of the last 12 months). My love of money is really about the optionality it provides and that is especially …

Income Report

Q2 2022 – Detailed Financial Report #86 – Net Worth $7,948,365

Gen Y Finance Guy Monthly Financial Reports 3 Comments

Another quarter in the rear view mirror and that means a new financial report. Our net worth did end slightly lower (-0.70%) for Q2’22 vs. Q1’22 but in relation to the rest of the market, it’s hard to be upset with a relatively flat month. There was one major surprise that significantly offset the decline we would have experienced and that was picking up the value of Mrs. GYFGs business, which we are holding at the value of cash on the balance sheet – approximately $225,000. The other two factors that helped keep our net worth from sinking too much when many assets were falling off a cliff are: (1) Our strong earnings engine produced almost $300,000 in income for …

Portfolio Deep Dive

Gen Y Finance Guy Financial Analysis 3 Comments

As the markets correct from their extravagant rise these last couple of years I am taking this opportunity to not only “be greedy when others are fearful” but also to digest the $5.5M that I’ve deployed since 2018. Let’s start with the high-level breakdown and then get granular with it. December 2018 marked our official entry into the double comma club and the beginning of a very impressive 8X increase over the subsequent three years – increasing from $1M to just a tad over $8M. I wrote a post in 2017 about how wealth-building was made simple by aiming to get a little richer every day and that is exactly what I have focused on doing ever since. My focus …

Save Like a Pessimist and Invest Like an Optimist

Gen Y Finance Guy Words To Live By 4 Comments

I’m pecking at the keyboard in the middle of a severe market correction in both the stock and crypto markets. Chicken Little is starting his “sky is falling” campaign and things could very well get worse before they get better. It’s a bit laughable that people forget that markets don’t go up in straight lines and are indeed cyclical – I’m sorry to say that this time isn’t any different. Everyone feels like a genius in a bull market, but these are the lessons “bull market geniuses” never learn: Leveraging Limits Optionality It’s a euphoric feeling (or so I’m told) when your returns are multiplied by debt. However…it’s catastrophic when leverage cuts the other way. Cash Isn’t Trash Cash looks …

Income Report

Q1 2022 – Detailed Financial Report #85 – Net Worth $8,003,869

Gen Y Finance Guy Monthly Financial Reports 2 Comments

It’s been three months since my last financial update and this is the first report in the new quarterly cadence. This month includes several major milestones to celebrate: (1) We sold our prior primary residence. (2) We used the net proceeds from the above sale to pay off the mortgage we assumed when buying our dream home. (3) The above two actions allowed us to become 100% debt free again! (besides our credit card balances that we pay in full every month) (4) We deployed over $1M in a single month. It may not seem like it was a quiet quarter for the GYFG household but it certainly felt quiet, while also being very productive and massively impactful. One of …

Everything Always Works Out – New 10 Year Vision Letter

Gen Y Finance Guy Words To Live By 7 Comments

2022: Wow! I can’t believe it has been three years since I went through this exercise for the second time in ten years to plant the seeds of what I desired my life to look like over the next ten. Here is the second of these letters, the one that I wrote in March of 2019. I’ll likely take the opportunity to write another letter in the next one to two years to continue this exercise as I find it very helpful to not only set direction but to force reflection periodically throughout the decade, which allows for any sort of course correction needed. I like a decade because my imagination can’t go much beyond that amount of time.  As …

10 Year Vision

A Letter I Wrote To Myself From The Future – A 10 Year Vision Of My Life

Gen Y Finance Guy Goal Setting 23 Comments

2021: I’m republishing this post one final time to reflect on the future I had cast for my life almost a decade ago. With this last and final update, I will add any additional annotations with blue text throughout the letter below. In the near future, I plan to provide a similar style of update and reflection in the second letter I wrote myself in 2019 as I began to future cast the next decade, which did have three years of overlap with this ten-year vision of my life. 2016: Below is a letter I wrote to myself back in October of 2012. It was an exercise that I was inspired to complete while reading Darren Hardy’s book “Living Your …