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

Gen Y Finance Guy Real Estate 2 Comments

Reading Time: 6 minutesHave 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

Reading Time: 7 minutes“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 3 Comments

Reading Time: 3 minutesMotivation 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 13 Comments

Reading Time: 7 minutesThis 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 14 Comments

Reading Time: 10 minutesWow, 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 25 Comments

Reading Time: 3 minutesImagine 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 …

Rule of 72

The Rule of 72 – The Shortcut to Double Your Money

Gen Y Finance Guy Financial Analysis 6 Comments

Reading Time: 4 minutesHow long will it take to double your money? Can you do the math of compound interest in your head? Do you want to extrapolate how long it will take your money to quadruple, octuple, or to hit an even bigger Big Hairy Audacious target, Freedom Fighter? Do you wish there were a shortcut to all these answers? Well, I have good news for you! There is a simple formula you can use to get a decent approximate answer – all without any fancy or complex math. It’s the “Rule of 72.” This simple shortcut will give you an approximate time – in years – that it will take to double your money (investment, net worth, etc). All you have to …

My Interview With Mr. 1500

Gen Y Finance Guy Interview 5 Comments

Reading Time: 8 minutesAn oldie but a goodie! This was originally published February 7th, 2015 on the 1500 days blog but doesn’t appear to be live anymore. Maybe I made Carl mad??? Good thing for the Wayback Machine, because I can still give reference to the original publication. If you want to see the original post and comments, you can visit the archive here. I have provided a few updates below in [blue within brackets.] (1) What is the worst financial mistake you made? When I was 20 and very green and naïve to the whole finance thing, I agreed to buy a house as the “credit partner.” The deal was that I would get paid $1,000 per month for letting this “investor” …

Income Report

May 2018 – Detailed Financial Report #41 – Net Worth $791,370 | Income $34,208

Gen Y Finance Guy Monthly Financial Reports 4 Comments

Reading Time: 11 minutesI have that feeling again – like something bad is going to happen. Around this time last year, I wrote about how things were going too well and contemplated what would happen when the music stops (everyone should have a back up plan). When I wrote that post our net worth had just reached $551,510 and our trailing twelve months (TTM) income was $347,539. Things have only continued to surpass my wildest expectations. Our net worth has increased $249,860 since then and our TTM income finished May at $417,214. Mind blowing!!! As you will see below, we are deploying capital at a very aggressive pace. In the long run we will be thankful we did, but I get the sense …

You CAN Get Rich Working for Someone Else Because Your Career Is Worth Millions of Dollars!

Gen Y Finance Guy Career 8 Comments

Reading Time: 7 minutesI hate when I hear people say that you can’t get rich working for someone else. It is such a blanket statement that isn’t even in the realm of truth. First of all, there are jobs, and there are careers. Obviously, you’re not going to get rich working at McDonald’s as a burger flipper. But are you still working your high school minimum wage job, GYFG reader? I think not. First, I’m going to frame this discussion with the following statements: Most of my readers are college-educated (in my opinion, this is the highest probability path – but obviously not the only possible path – to a six-figure income). The average starting salary for a college graduate is $50,000 per year. …