How I Invest My Money

Gen Y Finance Guy Financial Freedom 5 Comments

I recently read Josh Brown’s book How I Invest My Money: Finance Experts Reveal How They Save, Spend, and Invest and thought it would be a good exercise for me to take Josh up on his offer at the end of the book to write my own essay on how I invest my money. Think of this as my money philosophy defined by a set of standard operating procedures. The first time I really thought about money in a structured way was back in 2015 when a blogger friend of mine asked me to participate in the “personal finance index card challenge,” where you get only a single index card to convey your best financial advice. The idea was that …

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 …

The Tenacious Ten – Financial Independence in 10-20 years [Infographic]

Gen Y Finance Guy Financial Freedom 3 Comments

About four years ago, I wrote a post outlining what I believed to be the ten guidelines a Freedom Fighter could follow in order to reach Financial Independence in 10-20 years. Here they are now shared as The Tenacious Ten! That post, paired with this infographic, succinctly distills the principles I’ve personally followed and espoused on this blog over the last five (going on six) years. Since it’s been over four years since solidifying these, would I change anything? Yes, there are a few modifications or tweaks I would make. What I would change #6 Learn Two Basic Investment Strategies with Options. I still think anyone that actively manages their money and invests in the stock market should understand and be …

GYFG Household Income Grows From $101,336 to $1,050,000 in 12 Years

Gen Y Finance Guy Financial Freedom 11 Comments

I wrote myself a letter back in October of 2012 wherein I set out a vision for my life 10 years into the future. I can’t believe it has already been seven years since writing that letter (2.5 years since I shared it here on the blog). Many of the things I envisioned accomplishing have already come to fruition. I feel fortunate to have had such a clear vision of what I wanted to accomplish and to know where I wanted to be in my future life. I don’t think I would have been able to accomplish so much in a relatively short period of time if it were not for the act of sitting down, thinking through, and writing …


FIRE Starter – What to do When You Hit the Upper Limit of Your Savings Rate

Gen Y Finance Guy Financial Freedom 1 Comment

You can find all of Zach’s previous posts here. Today, Zach is going to discuss some options available to the Freedom Fighter who feels that he or she has hit the upper limit of their savings rate. If you have followed this blog for any length of time you know that the approach I preach is #2 below. I agree it is prudent to get your expenses in check, especially early on in your journey, but we don’t preach the ultra-frugal lifestyle on this corner of the internet. In my opinion, extreme frugality is for the birds, and relative frugality is the shiznits!!! I hope you enjoy Zach’s latest FIRE Starter post below. First, a Quick Reminder of Why I …


FIRE Starter – Why Owning Assets Leads to Wealth & Freedom

Gen Y Finance Guy Financial Freedom 1 Comment

You can find all of Zach’s previous posts here. Today, Zach is going to discuss the importance of owning assets to build wealth and achieve freedom. Your worst enemy in your pursuit of Financial Independence is only being able to generate income by trading your time for dollars. This model doesn’t work, because in it, as soon as you stop working the money stops flowing. This is why it’s so important to create a gap between your income and your spending (that gap is filled with your savings). Remember the golden rule to financial independence is to spend less than you make and invest the difference wisely. You invest by acquiring assets, which in turn appreciate in value and produce …


FIRE Starter: Don’t Wait Until F.I. to Answer the Question “How should I spend my time?”

Gen Y Finance Guy Financial Freedom 1 Comment

You can find all of Zach’s previous posts here. Today Zach is going to challenge you to start exploring how you want to spend your time. In the post below, Zach is going to ask you to participate in a thought experiment where you contemplate what life would be like if money were no object. I would say this is an exercise in lifestyle design. I’ve found this to be a very useful exercise personally, one that I regularly go through. It’s also been very useful in gaining more clarity and autonomy over my own time faster than it would have ever happened had I left it to chance, or by waiting to hit Financial Independence (see related links at …

LateFIRE Chapter 4: A Tale of Two Houses, a 26-Bag, and $1.7M

Lin Financial Freedom 25 Comments

When you start late on the path to FI, there is URGENCY. There is no margin to make missteps. There is no multi-decade runway to recover from market turbulence, so “time in the market” trumping “timing the market” takes on a different nuance. Ask a person on the cusp on retirement in 2000, or 2008, what happened to that retirement fund left in a stock market account. Hence, I need to choose my steps carefully. I am in my mid-50s; my husband is 61. However, we also need to take swift and probably dramatic action to catch up and provide for the years ahead. Here is where we are. Any constructive thoughts you, GYFG reader, might offer to help, are …

4 Years into Our 20 Year Journey to a $10,000,000 Net Worth

Gen Y Finance Guy Financial Freedom 21 Comments

I’ve been itching to write this post for some time. I really can’t believe it’s been four years since I announced publicly that the GYFG household was chasing such an ambitious goal – a $10M net worth in twenty years. I received a lot of doubt at the time, which is understandable, because for most people this is a goal beyond the realm of possibilities – either by circumstance or their own self-limiting beliefs. I get that the income levels required to achieve such a BHAG are insane, but to me, they were never impossible. I see the world through a different lens. I credit a lot of this ability to The Slight Edge, which taught me how to visualize exponential progress …

Financial Escape Velocity

The Inflection Point Between Contributions and Compounding

Gen Y Finance Guy Financial Freedom 7 Comments

A lot of debate takes place amongst personal finance enthusiasts about which is more important: savings or compounding? The easiest answer is that they are both critical to building wealth. I have already discussed how important your savings rate is if rapid wealth building is your goal – rapid as in financial independence in 10-20 years. I even went as far as to call it the most important variable to wealth building. Compounding is an amazing and magical force. However, compounding zero for three decades won’t get you far in achieving your dream of financial freedom. Zero compounded at 8% – or even at 20% – or 100% – for 30 years is still zero! Compounding without savings is like driving a car without …