Aussie Firebug

Financial Independence Retire Early


Creeping ever so close to the $200K club! I really wanted to hit $250K by the end of the year, but unless something drastic happens I don’t think I’m going to get there on savings alone. It’s much more likely that the real estate market stagnates or even dips to be honest.

What an interesting month. I finished a piece on Fixed or Variable Rate which basically said that unless you’re over geared and an interest hike will break your finances, than it’s financially better to stick to variable 95% of the time. It was interesting reading some of the comments to that article. Some people were still convinced that they knew better and that locking in now would be better over the long term. And then the cash rate got slashed to 1.75% about 4 days after I posted the article lol, talk about timing. I wonder if they still think they made the right decision…?

And what’s a double dissolution anyway? Does it affect my plans to escape from the 9-5 day grind? The answer is yes.  For me anyway. Well actually I think it would affect just about anyone in Australia in one way or another, especially if you have invested your funds into Australian real estate which I have.

Housing affordability is a major topic for this coming election and with good reason. Hot topics such as Negative Gearing, capital gains tax, overseas investors, land tax, stamp duty and many more are all within the sights of eager politicians bursting at the seamed to tell you what you want to hear to get your vote.

You have the Libs that claim that axing negative gearing would cause house prices to plummet and start a recession. This may sound like a bad to some (home owners) but great to others (first home buyers). You can check out the ALP’s housing affordability plan here (nice site btw) which will tackle negative gearing in an attempt to make housing more affordable.

I read plenty of forums and article and it seems to me that there is clearly two camps here. You have the home owners/investors that do not want to see their asset(s) go down in value. And then you have everyone else but mainly first home buyers trying to get into the market. Unfortunately for first home buyers, the majority of voters/wealthy people/people in power at the moment are also home owners/real estate investors which would mean that they are going to look out for theirs before they look out for yours. Sorry, that’s just the inconvenient truth (shout out Al Gore).

It’s also interesting reading all these passionate comments and threads about how some are praying and wishing so hard for Australia to fall into a recession so they can pick up a cheap house while all the rich and wealthy people who have invested in real estate go broke and wither away into the slums.


Guys this is not how it works! If there is a recession, the middle and lower class are going to be hit the most. NOT the rich and wealthy.

How do you think you’re going to get a loan for this cheap as chips house? Will you still have a job in a recession? The ones hoping for a recession obviously have no idea what actually happens in one or else they would not be wishing so hard for such a miserable situation to come to fruition.

It’s going to be interesting to see what party is elected and what that will mean for investors…


Net Worth



[wp_charts title=”linechart” type=”line” align=”alignleft” width = “100%” datasets=”-36000,-36000, -32000,-7000,20000,32000,45000,65000,83254,130000, 187910″ labels=”1-Jan-2011,1-Jul-2011,1-Jan-2012,1-Jul-2012,1-Jan-2013,1-Jul-2013,1-Jan-2014,1-Jul-2014,1-Jan-2015,1-Jul-2015,1-Jan-2016″]

Date Rolling NetWorth $ Change % Change Notes
 1-Jan-2011  -$36,000  $0  0.00% HECCS debt
 1-Jan-2012  -$32,000  $4,000  0.00% Started Full-time work late Nov
 1-Jan-2013  $20,000  $52,000  0.00% Built property and recieved FHOG ($21,000)
 1-Jan-2014  $45,000  $25,000  125.00%
 1-Jan-2015  $83,254  $38,254  85.01% Bought second IP
 17-Feb-2015  $110,215  $26,961  32.38%
 18-Feb-2015  $121,541  $11,326  10.28%  IP’s re-valued
 4-Mar-2015  $123,715  $2,174  1.79%
 18-Mar-2015  $122,128  -$1,587  -1.28% Paid for holiday
 15-Apr-2015  $125,906  $3,778  3.09% Withdrew equity from property
 14-May-2015  $127,906  $2,001  1.59%
 18-Jun-2015  $131,904  $3,998  3.13%
 21-Jun-2015  $152,904  $21,000  15.92% IP’s re-valued
 12-Jul-2015  $159,904  $7,000  4.58% Paid 4K off HECS Debt
 23-Jul-2015  $161,904  $2,000  1.25%
 31-Aug-2015  $167,904  $6,000  3.71%
 31-Sep-2015  $170,110  $2,205  1.31%  Car went out of Portfolio, Bought IP 3, Super went up and one IP went up
 31-Oct-2015  $171,376  $1,265  0.74%  Big bills. Not much saved.
 30-Nov-2015  $173,263  $1,887  1.10% Super went down slightly
 31-Dec-2015  $186,910  $13,648  7.88% IP went up in value
12-Jan-2016  $187,910  $1,000  0.54%  Some big bills
2-Feb-2016  $189,910  $2,000  1.06%  Bills (again)
1-Mar-2016  $191,410  $1,500  0.79%  Didn’t save very well
1-Apr-2016  $193,410  $2,000  1.04%  Steady month


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