Warren Buffett

Straight Outta Omaha: OG Thoughts On Investing – Warren Buffett

Gen Y Finance Guy Investing 1 Comment

Reading Time: 13 minutesHere is part three in this Warren Buffett series (part one & part two), covering a few of the sections I have pulled out from the last 50 years of Berkshire Hathaway Letters to Shareholders, which I finished reading in October of 2017. Although the entire 50-year series was filled with a ton of business and investment wisdom, all the pieces that I pulled are from the past seven years. I admit a probable recency bias, whereby after reading almost 700 pages, I remember more of the recent letters than the older ones. Needless to say, you bet I will be reading through all those letters again in the future. For the selections of this post, I pulled Buffett’s insights and comments …

Income Report

March 2018 – Detailed Financial Report #39 – Net Worth $738,718 | Income $33,691

Gen Y Finance Guy Monthly Financial Reports 6 Comments

Reading Time: 12 minutesWow! I can’t believe that 25% of the year is now behind us. Has anyone figured out how to squeeze more than 24 hours out of a day? Or extract more than 31 days out of a month? Every crossed-out calendar page is a tangible reminder of how fleeting time is. Truly, it is THE most scarce and valuable resource we have, way more precious than money. You see, money can be SPENT or SAVED. But time, on the other hand, can only be SPENT. You may develop increased efficiencies in utilizing it, but you can never stockpile it. Once you spend it, it’s gone forever. This blog spends a lot of time talking about money, but at the end of the day, …

Financially Alert Interview

My Financially Alert Interview – If You Take Consistent Action, Over Time, the Results Are Exponential!

Gen Y Finance Guy Financial Freedom 6 Comments

Reading Time: 11 minutesThe post below was originally written as a guest post on the blog Financially Alert over two years ago. It was a great experience, and I was happy Michael asked me to share my viewpoints. For me to read where my head was at then vs. now is such an enriching experience. What boggles my mind is how clear I was on my core financial philosophies back then, and how those have basically stayed the same for me, even though I feel like I have gone through so much evolution since writing this. Blogging has been a great barometer of growth and of what has remained the same! (1) Walk me through how and why you started your personal finance blog? Was the …

Term Life Insurance

Preparing for an Unexpected and Early Demise

Gen Y Finance Guy Insurance 9 Comments

Reading Time: 7 minutesIn late 2017, Mrs. GYFG and I decided that we were ready to embark on the next chapter of our lives, which involves expanding our family. We hope to be welcoming Baby GYFG in late 2018 or early 2019 if all goes as planned. We know that this day will eventually come but we want to be prepared when it’s finally here. As the first years of our marriage ticked by, we ignored all the commentary from our friends and family to just go ahead, that we could never truly be prepared, and still waited, taking steps to prepare for parenthood. We wanted to have things in place as we envisioned them before bringing another human being into this world. We …

Accidental Landlord

[Guest Post] The Accidental Landlord: How to Decide to Sell or Rent Your Old Home

Gen Y Finance Guy Real Estate Leave a Comment

Reading Time: 6 minutesToday’s post is a guest submission from Zolo, Canada’s largest real estate brokerage firm. An “accidental landlord” doesn’t buy a property with the intention of turning it into a rental, but rather falls into that situation after deciding to do so down the road. The GYFG household has been an “accidental landlord,” and although it turned out okay when we sold our property ten years after we purchased it, we were very happy to ultimately dispose of it. Yet, although we were glad to sell, that doesn’t mean we would not be open to “landlording” again one day in the future; in fact, we have plans to eventually upgrade at least one more time, with the renting out of our current …

Income Report

February 2018 – Detailed Financial Report #38 – Net Worth $724,974 | Income $74,190

Gen Y Finance Guy Monthly Financial Reports 14 Comments

Reading Time: 11 minutesHere we are again! Although February was a short month, the GYFG household still managed to get a lot done. From a health perspective, I was able to drop 10 lbs and get into a daily rhythm of meditation. I’m still dealing with two bulging discs, but I was finally able to start an eight-week program that uses a machine that is supposed to help re-align the disk (they call it the DRX 9000). The short of it is that this machine does Decompression Reduction Extraction (also known as nonsurgical spinal decompression) and the goal of each DRX session is to remove the bulging disc pressure from the nerve root. From what I’ve read, the studies show an 80% to 90% success …

Live Well, Give Well

Money Is the Tool That Allows Us to Live Well and Give Well

Gen Y Finance Guy Words To Live By 5 Comments

Reading Time: 9 minutesLet’s get something straight. Money is a tool! By itself it is nothing more than paper and metal, but it is a powerful means to many different ends. It provides the one who has it with optionality. Simply put, it is the tool that enables its possessor to both live well and give well. On this blog and many personal finance blogs, we (PF bloggers) talk a lot about earning money, saving money, and investing money (E+S+I = Wealth). These three actions provide us with the simple formula to building wealth (this is a great opportunity to plug my good friend ESI Money who focuses on these three simple steps to wealth). However, I’d like to focus on what it’s all for in …

Rich Uncles

The Easiest Side Hustle: Invest in Commercial Real Estate and Earn Passive Income Every Month (I’ve Invested $50,000)

Gen Y Finance Guy Real Estate 8 Comments

Reading Time: 6 minutesI first came across Rich Uncles in 2015, when my wife and I were contemplating buying a second piece of investment real estate. Our first was our “accidental investment” condo. Managing the condo was a series of headaches our first few years as accidental landlords, and we eventually hired a $100/month property manager for the rental, as we didn’t enjoy the process. It took twelve years of holding onto the condo before we could sell for a price that was break-even to its original 2005 purchase price (sold eventually in October 2017). This is all to explain why we ultimately decided to exit the business of holding physical real estate for investment purposes. We would rather have a balance sheet with little to no …

Simple Money Man Guest Post

[Guest Post] Make Saving Easy and Spending Hard

Gen Y Finance Guy Financial Freedom 6 Comments

Reading Time: 6 minutesToday we have a guest post from Simple Money Man on saving and spending. He has been a long-time reader and regular commentator on the blog and so when he reached out I was more than happy to host a guest post from him. Although our opinions differ on a few points in his post below, I know that not everyone to this site resonates with my philosophies, and some may be early in their journey and need to practice more of what Simple Money Man recommends below.  A part of me has this weird conspiracy theory that we spend so much because we are subliminally trained to do so. This is evident with incentives like rebates, points, rewards, free …

January 2018 Income Report

January 2018 – Detailed Financial Report #37 – Net Worth $674,336 | Income $26,935

Gen Y Finance Guy Monthly Financial Reports 8 Comments

Reading Time: 10 minutesIf you blinked, you missed January, as it was gone in a blink of an eye (at least for me). I hope that 2018 is off to a good start for each and every one of my readers. I also hope that you have already been taking steps to improve your financial future (I outlined 12 ideas here). Here, January was a mix of work, play, and much-needed relaxation. The busiest time of year for us starts mid-October and runs through mid-January. It was nice to end the last half of January in South Lake Tahoe. We rented a condo and made an eight-hour drive to it with our dogs in tow for ten glorious days of downtime. As is typical, …