The Money Whys Guy

01/15/2022

If you happened upon a windfall of cash, how much would it have to be to fundamentally change your life? Like, enough to make you operate differently and do something like quit your job or start a business or get your own Netflix login…

01/04/2022

2022 is here 🎉🥂 and I’m back after taking a few months off. It’s nice to be able to operate on my own schedule. Have you made any money resolutions for the new year? Check out these 3 simple tasks to help ensure financial success for the new year and beyond. Read the blog for more details and to download free tools to help make these happen.

💻 Track your spending
🚨 Build an emergency fund
🗡 Attack debt

10/05/2021

09/16/2021

🛑 Stop procrastinating. 🛑 Stop complaining about what’s not working. 🛑 Stop obsessing over what others have or what they’re doing.

✅ START
✅ START
✅ START

It’s great to research and plan, but action is the ultimate goal. How will you today? Here are a few ideas…

💰Set up or increase automatic contributions to a retirement or savings account
💰Open a taxable brokerage account. If you already have one, buy some shares in an index fund. Not advice, but I buy VTSAX (total stock market index) and SWPPX (S&P 500 index).
💰Even if it’s not performance review time at your job, start getting your story together around why you deserve that raise/promotion.

09/01/2021

For those with children, the IRS is sending up to $3,600 per child 👶🏽 to families meeting certain income thresholds. This child tax credit is normally applied when you file your taxes, but because of you know what 🗣 🦠 and its effect on the economy, the IRS is defaulting to sending these payments in monthly installments in advance of tax season this year. You can easily opt out via the IRS website if you prefer to get the credit when you file (like you normally would).

If you choose to stick with the monthly advance payments, consider using some of that money to fund a 529 education savings account for your child(ren) or anyone else with a valid SSN…including yourself! A 529 lets you invest funds and the growth on the investments is tax free as long as it’s used for qualified education expenses. This includes tuition, fees, books 📚, room and board, a laptop 💻, and many other expenses.

Of course you know I have a post that breaks it all down for you. Just go to the site and search for “529”.

08/23/2021

Do you know how much money you make now? Do you remember what you made last year? The year before that? 🤔 There's a simple and free way to access your lifetime earnings. Read my latest blog post to find out how. Your total earnings may surprise you! 🤑

Link to post: https://themoneywhysguy.com/how-much-money-have-you-made/

06/24/2021

Bitcoin lost pretty much all of its 2021 gains and Dogecoin is down ~60% from its peak last month. Why? No one knows 🤷🏾‍♂️ I’m not anti-crypto, but I’m not a fan of “investing” one’s hard earned money into something that isn’t really based on anything and is effectively a crapshoot. I like a more relatively conservative portfolio of index funds, ETFs, and real estate with a sprinkling of bonds and individual stocks.

06/20/2021

*** New Post Alert ***

Right back like I never left! I took a little hiatus, mostly to make sure I was spelling "hiatus" correctly. This latest post is the long awaited follow-up to my first post on Going Commercial. I break down purchasing a commercial property, step-by-step with the numbers. Make sure you stop by the home page to subscribe to the email list!

Research vs. Reality. It’s an epic battle. Once I realized that an investment in commercial real estate was within reach, I went into heads down learning mode. I read articles, blog posts, forums, watched YouTube videos, listened to podcasts, and picked all the relevant brains I knew. I knew

06/10/2021

Big or small, share your latest positive money move. Did you increase your savings? Did you contribute to a retirement account? Did you cancel a service you weren’t using? Did you get a raise or a bonus? Both?! Did you learn something about money? What’d ya do?

05/27/2021

We signed a 5-year lease deal with our new tenant! It took a good bit of time, work, and learning to get here, but we’re finally close to putting this thing on autopilot.

Our tenant was so excited when I delivered the key to her yesterday. Given today’s climate, she excitedly and anxiously asked, “Can I give you a hug?”. Being that I’m fully vaxxed and we were both masked, I said F it, bring it in. This was one of the first non-family hugs I’ve participated in in the past 15 months, but this was a special occasion. She’s been dreaming of having her own space to grow her business and so now she’s making that vision come to life. Beyond the financial aspect of this, it feels good to be a positive part of the community.

05/13/2021

Passive income sounds amazing...because it is! Generating income while still having the freedom to do what you want, when you want? That’s a sweet deal. HOWEVER, passive income doesn’t start out passive. It’s very active up front and takes work to build the machine that can generate the ongoing passive income. Even then, the machine requires some level of maintenance to keep it running smoothly.

All this to say, I’m dragging feet with the latest blog post because I’ve been upgrading the machine, y’all. New posts coming soon...and will be worth the wait!