Waiting Was the Right Choice!

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As I type this my nearly three-month-old son is sleeping next to me on the couch. Oh boy, has our life changed over these past three months! We are stoked to be parents and amazed that we were able to create another human being. We are excited to guide our son into adulthood over the next 18 years. We look forward to experiencing the world with him. There are still so many firsts ahead. Mrs. GYFG and I had always been on the same page in that we wanted to wait to start a family until our thirties. We knew early that in order for us to be the parents we wanted to be that we would first need to …

[Sponsored Post] Link by Prudential

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New onto the scene of technology-assisted money management is LINK by Prudential. Prudential is not some fly-by-night start up after your money (or data), and in fact has been around for 140 years! Thus, I think it’s good to check out their version of a modern day digitally-enabled financial advisor. (By the way, this post is sponsored. However, ALL opinions are the genuine impressions of the GYFG team, offered for your benefit…and ours!) This post was written by Lin, as a LateFIRE contribution. LINK is the type of tool that is especially attractive to someone “late” to the game of FI. Because LINK allows you to set the goals and input the date, it generates potential solutions, allowing for “toggling” …

From the Mailbag #3 – BK Shares His Success Since Reading The Blog

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“My takeaway from these past three years is to take massive action and to continue adding value to people around you.” – BK It’s been a while since I shared a piece from a reader writing in. The previous two email conversations I shared were from readers seeking some guidance, but today we have a reader sharing a success story. I don’t know about you, but I’m a real sucker for success stories.  RELATED: From the Mailbag #1 – Savings, Investments, Credit, and Debt RELATED: From the Mailbag #2 – I Want More, Can You Help? Below, BK shares his success in doubling his salary in just over three years. He realized that fortune favors the bold and asked for more …

Level Up

19 Ways to Level up in 2019

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Still being in the new part of this year and all, I thought it would be appropriate to put together a action list for those wanting to improve their financial situation in 2019 and beyond. The reality is that if you don’t take action now, you likely won’t take action later. Remember: building wealth in order to achieve Financial Independence is the direct result of simple disciplined steps made consistently over time. Notice that these are not “goals,” but rather a punch list of 19 EASY ACTION steps you can take to ensure that your financial house is built on a solid foundation. To make it super easy, I challenge you to choose at least 12 items; you can take just one action a …

Odds & Ends In Preparation for 2019

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2018 is quickly coming to an end! The weather is cooling down as we shift from summer to fall and the holidays are just around the corner. I like to get a head start on planning for the next year by starting that process at the beginning of November and finishing by Thanksgiving. I’m not quite ready to share my goals just yet but there are a few things that I do want to share. My goals will be mixed, but this post will be dedicated exclusively to the GYFG financial arm. I’m currently in the process of laying the groundwork for our finances in 2019. I’m programming “the machine” so that most things will happen automatically. That’s right – …

Control-Based vs. Allocation-Based Budgeting

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To budget or not to budget, that is the question… It may not be obvious at first glance but to me all budgeting boils down to two distinct different flavors: Control-Based Budgeting Allocation-Based Budgeting I believe that there is a time and a place for both, depending on where you are in your own unique financial journey. However, if you follow the GYFG path to wealth, you will learn to favor one of these methods over the other.  What’s the Difference Between These Two Methods? Early on in the financial journey, most will start with Control-Based Budgeting, where the focus is primarily directed at the expense portion of the income statement. A control-based budget is used to manage how much is spent on …

Are you prepared?

Are You Prepared If $hit Hits The Fan?

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Are you prepared for your eventual death? What about an untimely death, via a freak accident, illness, or other unforeseen events? Do you have an emergency plan for that? How about a disabling occurrence – what’s your plan if you live, but become unable to take care of your family? No one likes to talk about these things, but we all need to. Grief from loss or stress of disability would be difficult enough without leaving behind a mess for your family to clean up. Figure these things out now, when you have time to make good decisions! To help us address these questions, I have asked my friend Lynn to write a series of blog posts to educate us …

Warren Buffett on Investing

Warren Buffett – The Basic Choices for Investors

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Here is part two in this Warren Buffett series (read part one here), 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 in my two posts, I pulled Buffett’s insights and comments …

2018 Financial Moves

2018 Financial Checklist – 12 Steps To Strengthen Your Financial Future

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Being the new year and all, I thought it would be appropriate to put together a checklist for those that want to improve their financial situation in 2018 and beyond. The reality is that if you don’t take action now, you likely won’t take action later. Remember that building wealth in order to achieve financial freedom is the direct result of simple disciplined steps made consistently over time. Notice that these are not “goals,” but rather a list to follow of 12 EASY ACTION STEPS you can take to ensure your financial house is built on a solid foundation. I’m making it super easy; you can take just one action step a month through the end of the year and complete the whole list. And …

Warren Buffett

Warren Buffett And I Share Our Thoughts On Life and Debt

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In this Warren Buffett series, I have pulled out a few sections from the 50 years of Berkshire Hathaway Letters to Shareholders that I recently finished reading. Although the entire series was filled with a ton of business and investment wisdom, all the pieces that I have pulled for this series are from the past seven years. I will admit that it is probably due to a recency bias, whereby after reading almost 700 pages, I remember more of the recent stuff than older. Needless to say, you bet I will be reading through those letters again in the future. This particular piece came from the 2010 shareholder letter. The pieces I have pulled out are sections that resonated with me. So, …