The Only Fortune You Have To Spend Down To Zero

Gen Y Finance Guy Words To Live By 7 Comments

Poof! The first six months of 2020 are officially in the rearview mirror along with the 15,724,800 seconds they represented. And you thought money was slippery? At the end of the day, money is only a measure of how much time freedom you have. If you think about the 4% rule, its basic premise is to accumulate 25X your desired annual burn rate in order to sustain you for a 30+ year “retirement” (in parentheses because everyone’s definition of what this looks like is different). You have to dive a level deeper to realize that 25X before any appreciation, dividends, interest, or rental income is really a measure of time. It represents 25 years worth of living expenses – in …

Where Were You When The World Shut Down?

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It didn’t even seem possible! We had all heard about this COVID-19 virus that was sweeping through China. And then it spread to Europe, Italy being particularly hard hit with its aging population, the majority of whom suffered several comorbidities (underlying conditions). The US responded by shutting off travel in and out of the country. We thought we were impervious – we are the mighty United States of America! Hubris at its best. Don’t get me wrong, I still do believe we live in one of the greatest countries in the world, but the virus has humbled us all. COVID-19 has quickly taught us that all humans, regardless of race or economic status, are vulnerable and at the mercy of …

Everything Always Works Out – New 10 Year Vision Letter

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Written: March 1, 2029 Sent back in time to: March 8, 2019 Dear Dom, I haven’t written to you in almost eight years – I can’t believe it is already February of 2029. I obviously know about the decision you were struggling with a year ago, because you are me and I was there eleven years ago contemplating that same decision with you. Let’s briefly review the options that were on the table: (1) You continue your Corporate career and in 18 months you will be COO with an income of $600,000+, $250,000+ bonus potential, and additional stock/option-based incentives. I define this as the safe path (the one that most in your shoes would take without hesitation). It will require long …

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FIRE Starter – More Wealth & Better Health: Why You Should Change Default Settings

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You can find all of Zach’s previous posts here. Today, Zach discusses the powerful effect of our default settings and how you can leverage this power to your advantage. It’s amazing what a minor tweak like this can do for you. It’s like the ole slogan from the infomercial trying to sell you the rotisserie oven that says: “set it and forget it.” I hope you enjoy Zach’s latest FIRE Starter post below. First, a Quick Reminder of Why I Started This Series For the astute observer, you will notice that I have added three new series to the blog: LateFIRE, FIRE Starter, and Chasing FIRE. Notice a theme? They all capitalize on the explosion – one might say the COMBUSTION – in …

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FIRE Starter – The Transformative Principle of “Go Around”

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You can find all of Zach’s previous posts here. Today, Zach introduces the “Go Around” principle. It reminds me of something I tell the guys that work for me on a regular basis and that’s “the value is in the solution, not in the problem.” Anyone can identify a problem. Anyone can complain about a problem. Anyone can come up with solutions to solve or “Go Around” the problem but choose not to. Please take Zach’s advice and embrace the principle of “Go Around.” I hope you enjoy Zach’s latest FIRE Starter post below. First, a Quick Reminder of Why I Started This Series For the astute observer, you will notice that I have added three new series to the …

Optimism: The World Through My Eyes

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Each of us walks our own path, and develops our own perspective on life. You may never understand me or my perspective, and you will definitely have your own. It’s inevitable because we come from different walks of life, were born into different families, different times and places, and have lived different sets of experiences. So although I can understand our differences, I can only share the world as I see it and have experienced it. I’m an optimist. My wife likes to say that I view the world through rose-colored glasses. That doesn’t mean my world is perfect, by any means, but I have observed that things tend to work out most of the time and that’s what I …

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FIRE Starter: What Would Personal Finance Look Like If It Were Easy?

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Zach spent his first three posts providing us with nine actionable tips for savings, investing, and growing wealth in your 20s (part I, part II, and part III). The information in that series has the power to change the rest of your life for those who follow it. He then shared “How Creating a Side Project Can Boost Your Marketability and Income” and “The Power of Habits.” Today Zach is going to discuss what personal finance would look like if it were easy. For the newbie, personal finance can be daunting, scary, and frankly unmanageable by a mere mortal. But what if you could suddenly have it all made easy for you? Zach is going to help humanize the whole …

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FIRE Starter: The Power of Habits

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Zach spent his first three posts providing us with nine actionable tips for savings, investing, and growing wealth in your 20s (part I, part II, and part III). The information in that series could change the rest of your life if you were to follow it. He then shared “How Creating a Side Project Can Boost Your Marketability and Income.” Today Zach is going to discuss the power of habits. Our habits are either working for us or against us. Personally, I can attest to life-altering outcomes resulting from habits I developed. Don’t underestimate the power of your habits (current or future). I hope you enjoy Zach’s latest FIRE Starter post below. First, a Quick Reminder of Why I Started …

FIRE Starter: Advice on Saving & Investing in Your 20s [Part 2]

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Zach is back with Part Two of his nine actionable tips for saving, investing, and growing wealth in your 20s. If you missed Part One, take a moment to get caught up, and then come back to read Part Two. The information in this series could change the rest of your life if you follow it. A Quick Reminder of Why I Started This Series For the astute observer, you will notice that I have added three new series to the blog: LateFIRE, FIRE Starter, and Chasing FIRE. Notice a theme? They all capitalize on the explosion – one might say the COMBUSTION – in the FIRE (financial independence retire early) movement. But let’s set the record straight: on the GYFG …

LateFIRE Chapter Three: The Price of Mental Illness and Addiction

Lin Words To Live By 4 Comments

Catchy title, that…nothing like mental illness and addiction to make you feel all warm and fuzzy inside, right? Yeah, well. This is not the post I was going to write. I wanted to write about pensions, Social Security, and money tied up in our home’s equity. However, my husband and I recently went to the movies and saw Beautiful Boy, with Steve Carrell. It is the story of a father’s desperate journey to save a son from his own drug addictions. I don’t really know why my husband wanted to see it; it was a brutal movie to watch. Yes, it was an “important movie,” and it was well written, acted, directed. Realistic, yes. Too real, actually, for my taste. …