Aussie Firebug

Financial Independence Retire Early

Nothing written below is financial advice. The below questions and answers are for general information only and should not be taken as constituting professional advice. You should always do your own research when making any financial decisions.

I only have the audio answer this week guys (ran out of time this week). Below are the questions, but you’ll need to listen to the pod for our response, sorry readers 😅


Show notes:


Question (00:03:55)

Hi Aussie FIREbug, love your work!

I heard you talk about insurance on the Aussie HIFIRE podcast episode, but you didn’t mention private health insurance. I’m already 34 and earn over the threshold for the Medicare surcharge, so basic insurance would mean I would just about break even with taxes saved. If I retire early though, this driver would disappear and the benefits (choice of specialist, ambulance cover across states etc) are unlikely to be made use of in my younger years. If there are zero benefits, I’d also much rather pay additional taxes than pay to a health fund.



Question (00:15:12)

Hello AFB,

Long time reader/listener, first-time commenter.

I really enjoy it when you write/talk about the positive impact that your parents had on you growing up, especially when it came to money management and working hard (my parents had the immigrant mentality too).

I have three children, 2, 5 and 7 and I’m trying to strike the fine balance between teaching them that money doesn’t grow on trees, but also giving them all they need to flourish into wonderful people.

What will your approach be if/when you have kids and do you think you’ll be as hard on them as your dad was on you?


Question (00:26:08)

Hi Aussie Firebug,

You’ve mentioned that you and Mrs Firebug are planning to have kids one day. How does this affect your FIRE plans and have you budgeted for an increase in expenses?

The wife and I are trying for kids and I’m not quite sure how to model for children as there seems to be such a disparity amongst parents as to how much a child ends up costing.



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