Fail Forward and Make Mistakes to Reach your Goals In 2015 And Beyond

Gen Y Finance Guy Goal Setting, Words To Live By Leave a Comment

So many people are afraid of failure and what others will think of them that they never really truly attempt their deepest desires. I am here to tell you that it is okay to set a goal and fail. Just think, Thomas Edison failed 10,000 times before he invented the light bulb. But he didn’t really think of it as failure, instead he said this, “I have not failed. I’ve just found 10,000 ways that won’t work.” Sometimes we just have to step out of our comfort zone and shoot for the stars. In 2014 I set a goal to make an extra $20,000 in my new consulting business. I started with zero revenue and by the end of the year I …

We All Make Bad Financial Decisions, But They Don’t Have to Define The Rest Of Our Lives!

Gen Y Finance Guy Financial Freedom, Words To Live By 2 Comments

I am now 28 years old and the only debt that I have is the mortgage on my primary residence and my rental condo. The wife and I bring in almost $200K a year and we will have our primary residence paid off in 6 more years. We continue to max out my 401K at $17,500/year (which I have been doing since graduating college in 2008), and starting in 2015 we will be putting $5,500 away in an IRA for my wife. We have over $100K in our retirement accounts and about $60K in the bank (by the end of January). We made some financial mistakes early on, but everyone does. I am sure even you have made some that …

Memento Mori – Remember Your Mortality

Gen Y Finance Guy New Rules, Words To Live By 19 Comments

Yesterday is history. Tomorrow is a mystery. Today is a gift, that’s why it’s called the present! Last week I shared a post on time, and this week I would like to follow it up with something I started back in late 2011 or early 2012. As a quick reminder, we all get a daily deposit of 86,400 seconds a day to spend and invest however we choose. It doesn’t matter who you are or where you come from, you get the same exact deposit. You can’t buy more time. Once you use it, you lose it. Any unused balance is deleted from the ledger and the balance reset. There is no guarantee tomorrows deposit will come. Memento mori (Latin ‘remember (that you have) …

Time - Huge Deposit

My Huge 86,400 Deposit…And I’m Going To Spend It All

Gen Y Finance Guy Words To Live By 4 Comments

Imagine there is a bank that credits your account each morning with 86,400. It carries over no balance from day-to-day. Every evening the bank deletes whatever part of the balance you failed to use during the day. What would you do? Draw out every cent, of course! Each of us has such a bank. Its name is TIME. Every morning it credits you with 86,400 seconds. Every night it writes off as lost whatever of this you have failed to invest to good purpose. It carries over no balance. It allows no overdraft. Each day it opens a new account for you. Each night it burns the remains of the day. If you fail to use the day’s deposits, the …