What if money was no object?

What If Money Were No Object? [Part Two]

Gen Y Finance Guy Words To Live By 7 Comments

Reading Time: 7 minutes“Better to have a short life that is full of what you like doing than a long life spent in a miserable way” – Alan Watts In part one of this series, I pondered the thought-provoking question offered by Alan Watts: what if money were no object? Alan dove even deeper by asking the following: What would you like to do if money were no object? How would you really enjoy spending your life? What makes you itch? What sort of a situation would you like? What do you desire? I’ve been pondering these questions for several months now. In Part One, I promised to share more with you about what life will look like for the GYFG family when money is no object. I also …

When Motivation Wanes Discipline Reigns!

Gen Y Finance Guy Words To Live By 3 Comments

Reading Time: 3 minutesMotivation can be fleeting. It can be on again, off again. Because of its inconsistent nature, motivation can’t be the only tool in your belt to keep you moving forward toward achieving your goals. Or your to-do list. Or even the one task presently at hand. Let’s face it, we have all had days where we lacked motivation. But the difference between the average person and the serial achiever is the achiever’s ability to harness discipline when enthusiasm is low. Do you think Michael Phelps enjoyed every one of his grueling workouts on the way to his Olympic podium position? Was he super stoked at every one of his solitary multi-thousand yards in that pool? I never asked him, but I bet …

What if money was no object?

What If Money Were No Object? [Part One]

Gen Y Finance Guy Words To Live By 14 Comments

Reading Time: 7 minutesI discovered the video below more than three years ago. It really stuck with me, and I knew there would eventually be a time to share it in a blog post. That time has finally arrived. To place this in the context and history of GYFG: I started publicly sharing my monthly financial reports about three and a half years ago (January 2015). In that first monthly financial report, I shared my Big Hairy Audacious Goal of achieving a net worth of $10M and a monthly income of $50,000/month. Pretty “BH&A,” as back then our net worth was just shy of $200K and our monthly income was projected to average ~$15K/month (or $178K annually). But fast forward to 2018 and our net worth …

Happy & Healthy

If You’re Not Happy or Healthy, What Is the Point of Being Wealthy?

Gen Y Finance Guy Words To Live By 14 Comments

Reading Time: 4 minutesI have many character flaws. This I know. But there is one thing I’m really good at – finding the positive in every adversity. I have found this skill, this ability to extract the lesson or silver lining, to be invaluable in my journey. It’s required me to develop a keen sense of self-awareness and an open mind. It allows me to convert, rather than accept, the cards I’ve been dealt, and to try to play the best hand I can. Currently, I am leaning hard into this ability, by necessity. For most of my youth and into my early twenties, I thought I was physically invincible. Don’t we all? I took on unsustainable workloads. I did workouts without regard to …

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 9 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 …

Extreme Frugality vs. Relative Frugality

Extreme Frugality Is For The Birds

Gen Y Finance Guy Words To Live By 14 Comments

Reading Time: 4 minutesIt’s no secret that this blog has nothing to do with extreme frugality. If anything, compared to my peer bloggers, I’m probably categorized as a spendthrift. I have even been accused of leading a rather lavish lifestyle, which I think is complete bollocks. Relative to my income I am “frugal” but that is not because I have crafted some master plan to live on as little money as possible. Instead, I have chosen to take the road less traveled to increase our household’s top line (income) to a point where saving 50% happens automatically, rather than obsessing over every little expense. I think that extreme frugality is for the birds! As I wrote in this post, there is a natural floor when it …

Don't forget to Build a Life

Don’t Get So Consumed Building Wealth That You Forget To Build A Life

Gen Y Finance Guy Words To Live By 10 Comments

Reading Time: 2 minutesI was recently crafting an interview post for the great and magnificent Physician on Fire, when I was reminded of a core belief that I had lost sight of recently. It’s crucial that everyone in pursuit of Financial Freedom pause and reflect on the following: Don’t get so consumed building wealth that you forget to build a life. It’s so easy to get caught up in the pursuit of a better tomorrow that we forget to live in the present. None of us are even guaranteed a tomorrow. Life could be gone in an instant and that’s very sobering to realize. That doesn’t mean I want you to go out there and live as if you will die tomorrow, I’m …

Rags to Riches

From Welfare to Well-Off: My Rags to Riches Story (in the Making)

Gen Y Finance Guy Words To Live By 20 Comments

Reading Time: 9 minutesAfter two and a half years of writing this blog, I’m finally ready to share my back story with my readers. Some might find it hard to believe that I grew up on welfare to drug addicted parents. To be honest, from my current vantage point, that life seems like just a dream. The following was originally published as a guest post over at Financial Samurai about two years ago. After reading some posts between Rich and his cousin Penny, I was reminded of my own past and inspired to share my story.  They say the best time to plant a tree is 20 years ago. You know when the second best time is? TODAY! As you are about to discover, …

Focus

FOCUS: Follow One Course Until Success

Gen Y Finance Guy Words To Live By 17 Comments

Reading Time: 2 minutesDo you find yourself getting distracted from the core of what you set out to accomplish this year? If so, it’s an appropriate to remind you to FOCUS and to recite what this acronym stands for. Follow One Course Until Success It’s natural to get off course. If you think about it, a space craft headed to the moon is only on course 1% of the time. The important thing is to have the right systems and disciplines in place to redirect your efforts back towards your goals. It is easy to get caught up in “shiny object syndrome” when you start seeing success. You start to think to yourself, if this is going so well, maybe I should also do this and that and this other …

Saving Life with Life Savings

Using Life Savings To Save A Life – A Financial Decision Made From The Heart

Gen Y Finance Guy Words To Live By 55 Comments

Reading Time: 7 minutesToday we are going to deviate from the normal finance content that I usually publish. Don’t worry this story will still have a financial decision that had to be made, but instead of being optimized by the brain, it was  instinctively made by the heart. Remember this sites mission is: “To Humanize Finance, Build Wealth, and Reach Financial Freedom” This means sometimes we have to skip all the rational math and go deep on something that is extremely EMOTIONAL and HUMAN. Many of you on my email list have received a good back story of where I come from. Others that have found me through other blogs know more about me than some of my closest friends. But then, there are plenty of you …