FIRE Starter: Advice on Saving & Investing in Your 20s [Part 1]

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Last month I shared the first of a series of interviews with you. Zach, the newest GYFG team member, was the first to be interviewed. Going forward he will be a regular writer for the GYFG blog. He is 24 years old and killing it. His wisdom belies his age and is a great example of how to get started off on the right foot, financially and otherwise. At 32, I find myself on the older end of the millenials’ age range, which in 2018 is 22-37, according to the Pew Research Center. Guys like Zach have got me thinking that there is a younger part of my generation that may not be able to relate to where I am in life personally. …

Warren Buffett on Betting Against America – Don’t Do It!

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Given the recent turbulence in the markets, I thought this was a good a time as any to remind people to stay calm. As I peck away at the keyboard the DJIA is down 2,523 points (24,446 on 10/29) from its all-time high of 26,966 set on 10/3/18 (that’s about a 9.4% sell-off that has taken place over the last four weeks). Let me present a few additional points for proper context: (1) It’s normal for the market to go up and down. This is the normal ebb and flow of market movements. You know that 8% return you expect? Well, that doesn’t come without a bit of volatility. (2) This could be the start of the next recession but no one …

LateFIRE Chapter 2: Mind the GAP and KISS Me

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Hi again! Welcome to stop #2 on my LateFIRE journey. This is the post wherein are contained steps 1 – 10, optimally prioritized for a meteoric rise to financial independence, achievable – despite starting three decades late – at sound-barrier-busting speed via silver bullets, magical strategic mistake-proof moves of unmitigated brilliance, and pixie dust. Do this and become a gazillionaire just like me, overnight! Easy! So excited to share! Um…yeah…about that… Although I wish it could be different (because I just love a good dose of silver bullets and pixie dust sprinkles), I am just fresh outta magic. Darn it all. Refresher: I looked up one day, dearly beloved, many years into this thing called life [PRINCE: yes always] and …

Do You Live Life By Design?

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I have been going through all the guest appearances I’ve had on different blogs over the past four and a half years of blogging and it’s been so much fun to revisit some of these posts. I’ve linked them all up on this “As Seen On” page so you can see them all in one place. Today I want to share one I wrote a little over three years ago, originally published on Untemplater. It’s always so interesting to reflect back and see where my head was at a given point in time.  “If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.” – Jim Rohn …

Does This Dad Role Come With Training Wheels?

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Warning! Dad-to-be stream of consciousness ahead. It’s really happening. We are three months from bringing another human being into the world. It’s scary. Yet at the same time, it’s so magical. It doesn’t seem possible that life can be formed within another human – in this case Mrs. GYFG. We are blessed with the opportunity to be parents. And I count my lucky stars every time I see that glow coming from my wife – the future mother of our child. I think my fixed gaze makes her a little self-conscious but I’m just trying to soak it all in. She is amazing and I can’t help but think about how great a mother she will be to our baby boy. Deep …

What if money was no object?

What If Money Were No Object? [Part Two]

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“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!

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Motivation 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]

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I 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?

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I 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

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Let’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 …