Income Report

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

Gen Y Finance Guy Monthly Financial Reports 2 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 Uncategorized 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 …

Our Spending Budget is $500,000 This Year!

Gen Y Finance Guy Smart Spending 13 Comments

WARNING: This post is about to get ridiculous and maybe even border on preposterous. I realize that we have reached a level of finances and spending that is not relatable to the average person but I can’t let that stop me from sharing my journey. I’ve always written under a policy of full transparency and I won’t let that stop now. With that out of the way let’s jump into how and why we plan to spend $500,000 in 2022. First, I must remind everyone that proportional to our income this amount only represents 14%, which is a far lower percentage of income than what the average person spends; we practice relative frugality and continue to ensure we follow the law …

Income Report

December 2021 – Detailed Financial Report #84 – Net Worth $7,586,316

Gen Y Finance Guy Monthly Financial Reports 5 Comments

Happy New Year! Not only is this the last report of 2022 it is the last monthly report I will ever publish. As I mentioned last month, going forward I will be moving to a quarterly update schedule to make time for other things (potential posts on other topics). I’ve published a report every month for seven years and it feels like it’s time to change it up a bit. I’m making lots of changes in my life: The GYFG family officially moved into our new house in wine country. We are on five acres and the possibilities are endless. After a decade-plus of grinding out long hours, I will now only allocate 40 hours a week for work. This …

Income Report

November 2021 – Detailed Financial Report #83 – Net Worth $7,528,114

Gen Y Finance Guy Monthly Financial Reports 14 Comments

It’s beginning to feel a lot like…change! Yes, I can feel myself evolving and preparing for the next chapter of life I wrote about back in 2020. For the last ten years, I’ve been head-down aggressively and obsessively building a financial foundation that would enable my family and me to live life by our design. I’m lucky that I’ve had a partner (Mrs. GYFG) that was willing to dream with me. She has been there to not only support me but work alongside me to manifest our future life together. This took long hours and sacrifice. The “living well below our means” sacrifice was the easy part. But the harder part, the part that can destroy a relationship and a …

Income Report

October 2021 – Detailed Financial Report #82 – Net Worth $7,521,552

Gen Y Finance Guy Monthly Financial Reports 8 Comments

It happened! We finally closed the transaction whereby I sold a majority interest in my business. As I reflect back on what has been accomplished over the past 32 months since starting this business I am extremely satisfied with the progress we made in a relatively short period of time. I think the best thing I ever did was start with an exit in mind. From day one I had a five-year plan and tracked everything I knew an eventual buyer would want to see to properly evaluate the business. I thought it would take another two years before we would get here but here we are on the other side of a deal. Starting and growing a business has …