Income Report

Q4 2022 – Detailed Financial Report #88 – Net Worth $10,245,337

Gen Y Finance Guy Monthly Financial Reports 4 Comments

Wow! I never imagined that it would take less than 100 financial update posts to reach my $10M net worth goal, yet here we are. Of course, I did switch from monthly to quarterly updates this year but that still would have put me at 96 posts vs. 88. It’s a little bittersweet that this is the last financial update in this format that I will be providing. My plan is to move to more of an annual letter format that will be part financial update, part reflection, and part projection. I have to spend time really thinking through what I want to share going forward. A few call-outs: (1) I struck a sweet deal to sell the remaining 40% …

Income Report

Q3 2022 – Detailed Financial Report #87 – Net Worth $7,933,251

Gen Y Finance Guy Monthly Financial Reports 2 Comments

The end of Q3’2022 was a significant milestone as we collected the third and final payment related to selling a majority share (60%) of the business I founded almost four years ago now. Not only did we hit the one-year anniversary of that transaction but it represents another inflection point in how and when I will work. If you were to study the weekly hours I put in over the last 24 months you would see a slope that was declining as I transitioned from 80-hour work weeks down to 32 – 45 hour work weeks (been here for most of the last 12 months). My love of money is really about the optionality it provides and that is especially …

Income Report

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

Gen Y Finance Guy Monthly Financial Reports 3 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 …

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 …

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 …

Income Report

September 2021 – Detailed Financial Report #81 – Net Worth $6,688,328

Gen Y Finance Guy Monthly Financial Reports 7 Comments

What a month! September was a bit rough as we concluded the peak of our busy season that runs from May through October. Everyone (including myself) is looking forward to the seasonal slowdown that naturally happens this time of year as we head into the holidays. This holiday season is going to be bittersweet; it is the first holiday season that we won’t have my mother-in-law but it’s also our daughter’s first Halloween, Thanksgiving and Christmas. I was hoping to be able to share that the sale of my business closed in September but due to delays related to legal issues, it was pushed into October. I’m typing this report on the 13th of October and we are down to …

Income Report

August 2021 – Detailed Financial Report #80 – Net Worth $6,594,162

Gen Y Finance Guy Monthly Financial Reports 10 Comments

I’m a super planner…but August decided to ignore my plans! The first major surprise was that our daughter decided to show up three weeks early from her September 7th due date, which began a cascade of plans going out the window. I had somehow deluded myself into thinking I could plan everything to perfection…but life had something else in mind.  Although our introduction came earlier than expected, we were excited to meet our little girl, and my wife was ready to be done being pregnant. I had planned to be in the delivery room for the birth of my daughter and cut the umbilical cord like I did for our son, but that was something else that didn’t go according …

Income Report

July 2021 – Detailed Financial Report #79 – Net Worth $6,533,960

Gen Y Finance Guy Monthly Financial Reports 18 Comments

I’m going out on a limb this month to include the value of my business in this month’s report, since we are officially 30 days from close as I type these words. If last month was a huge milestone, this month was a quantum leap as our net worth is more than doubling month over month. It all started 79 months ago when I concocted this big hairy audacious goal that even my wife thought was crazy. Not only has it come to fruition, it has happened on an accelerated timeline because the plan never contemplated any x-factors, such as the one facing us now. For the newer readers, the original goal was to build a $10M net worth over …