Aussie Firebug

Financial Independence Retire Early

JAN22 Net Worth $1,013,150 (-$27,714)

JAN22 Net Worth $1,013,150 (-$27,714)

I publish these net worth updates to keep us accountable, have others critique our strategy and show that reaching financial independence in Australia is very doable without winning the lotto, having a high paying job or inheriting a wad of cash. The formula to be able to retire early is simple, the hard part is being consistent and sticking to a plan for many years. The table at the bottom details our entire journey from being $36K in debt all the way until we reach 🔥


We kicked off 2022 with some travelling which almost didn’t happen.

Mrs FB and I are aspiring parents and basically, everyone has told us to get in as much travel/activities/sleep-ins as possible before a future newborn comes onto the scene (we’re not currently expecting atm). The original plan back in August last year was to get in one more overseas trip before the potential avalanche of responsibilities from parenthood hit us 😂.

It was originally going to be Japan because we missed it due to Covid in 2020. But as the months went by, the restrictions weren’t easing up enough for us to risk it plus Omicron went bananas later on in 2021. There’s was the whole ‘getting stuck’ over there risk, hotel quarantine (already paid that once 🙃) and probably the most likely risk of them all… getting a half baked Covid experience.

I’ve been thinking about what the world is going to be like after Covid for a while now because it doesn’t take a rocket scientist to know it’s not going to be the same.

Think about how much airport security changed after 9/11. A lot of the world was affected by that event. And whilst 9/11 was unprecedented, Covid is really on another level in terms of impact and severity which is saying a lot.

I mean… what sort of restrictions are going to be sticking around post-Covid? Will masks become the norm (people voluntarily wearing them)? Number restrictions on large gatherings?

I remember how much fun I had at Octoberfest back in 2019. Will that be the last Octoberfest of its kind… ever? There’ll be more festivals in the future but I’m not sure they’ll be the same. Our descendants might be able to look at photos of our generation and easily know if the picture was taken pre or post-Covid.

It’s a bizarre thing to think about really.

Anyway, back to our travel struggles…

So we axed Japan because things were getting worse, not better and I’m pretty sure Australia wasn’t even on the ‘allowed’ list to enter the country 😅.

We flirted with the idea of New Zealand but they didn’t want us either 😢.

So we ended up deciding that we’d have a look around our own backyard instead. Having never been to Western Australia, I was a bit disappointed that the borders were still closed because it was our preferred destination… oh well, next time I guess. South Australia and Tassie were next up and we were in luck with these states coming from Vic. I remember getting a slight scare in mid-December when the SA/VIC government started to mandate a combined total of 3 Covid tests before entry. It was originally 1, then it went to 2 and then 3 and I thought “Ahhh man, it’s just a matter of time before they lock us out”. Thankfully that didn’t happen and were able to cross the border to start our January holiday.

We hit up Adelaide first and I was really impressed by the city. Beautiful gardens and parks, great spots to eat and drink, plenty of recreational activities, world-class beaches just up the road and affordable housing from what I’ve heard. It’s no wonder that Adelaide always ranks highly in those ‘worlds most livable cities’ studies.

I really enjoyed hiring the orange bikes/electric scooters to see the city. Was a lot of fun.

Adelaide Gardens

Adelaide Riverbank

Adelaide Open

Gorgeous winery just out of Adelaide called ‘Down The Rabbit Hole’

I also caught up with Loch aka Captain Fi.

The Cap’s Sky Garden

Co-Captian FI aka Angel

He was kind enough to help organise an impromptu FIRE meeting in Adelaide with less than 48 hours notice 😅. I think we had around 10-15 people come and go throughout the night and it was one of my highlights of January. Getting out there and meeting Aussie’s from the FIRE community has been one of my goals since returning home. Last year was hard with all the restrictions but I’m really hoping 2022 can be the year of FIRE meet-ups! I’m planning on hosting a few in Gippsland and maybe even Melbourne 🙂

A big thanks to everyone who attended the Adelaide FIRE meet-up. I’ll be back one day for sure!

We headed to Kangaroo Island (KI) next but unfortunately had caught a bout of bad weather and couldn’t do everything we had hoped. It was still a lot of fun though. Here are a few shots.

Remarkable Rocks

Admirals Arch

After SA we headed to Tassie to meet up with our family and do some sightseeing.

I had already been to Tassie about 7 years ago and I remember being really impressed with Hobart’s Salamanca markets and Mona museum so I didn’t mind going there again. Plus we were exploring around the island to heaps of places I hadn’t been to before anyways.

Here are a few shots.

Royal Tasmanian Botanical Gardens

Enjoying a Frothy @ The Hanging Garden

Wineglass Bay

St Helens MTB Trails

We had such a great time sightseeing around Tassie.

I also managed to have another small impromptu FIRE meet up at Preachers in Hobart. It was such a cool little bar with a great bar garden and I really enjoyed meeting more people from the community. A big thanks to everyone who came out and had a drink with us.

We got around on more of those orange scooters in Hobart which I really liked. Seeing a city on those scooters or a bike is 100 times better than driving around IMO. One of my favourite things about Hobart and Adelaide is that you can get anywhere in the city on a bike/scooter within the hour. Having lived in a bigger city like London I really appreciate the smaller size of our Australian cities. Even Melbourne and Sydney are a lot more compact compared to New York, London, Tokyo etc.

I remember being a bit shocked when we went to a friends place for drinks in London once. We punched the address into City Mapper and the designated route said it was going to take over an hour to get there 😐. That’s a crazy amount of time to get from one place to another in the same city. I still maintain that riding a bike is the quickest way to get around in London but even so, you’d have to be pretty fit for some return trips around the city and most people aren’t going to ride their bike to a party lol.

Speaking of bikes, I had no idea that the MTB scene in Tasmania was so prevalent. I’ve recently started to hit the trails with my nephews and it’s been an absolute blast! I managed to get Mrs FB on a bike and the trails at St Helen’s were awesome. I’d love to come back one day and hit up Blue Derby for sure.

Net Worth Update

The cruel mistress of market timings punished me in January after I obviously angry her by holding onto our lump sum for too long 😂

After lump summing > $200K at the start of Jan, the markets started to dip and went south pretty quick with a slight recovery towards the end of the month.

This dip in the markets is the main reason for the drop in our net worth this month. Our share portfolio took a beating along with Super.

It was also a really expensive month again (inflation maybe?) and we didn’t save that much money.

Man, I forgot how much holidaying and eating out can really add up quick. A key difference these days is us having a mortgage whilst holidaying. When we were in London, we could sub-let our room before heading off on an adventure for a few weeks. But these days, it’s a double whammy of expensive accommodation plus our mortgage 💸. It’s still been worth it IMO but just reinforces my point of view that owning a PPoR is bloody expensive and can really clamp you down financially and geographically.

No changes to the FIRE portfolio.

*Expenses include everything we spend money on to maintain our lifestyle. We do not include paying down our PPoR loan as an expense, only the interest
*Investment income is simply 4% of our FIRE portfolio divided by 12

Expenses continue to be really high for the second month in a row. This is mostly accounted for by our holidays but I’ve noticed our grocery bills have been insanely high over December and January. This is partly because I bought a new BBQ and have been hosting a lot of dinners with my mates. Playing host is super fun but can be really expensive too. Inflation has definitely had an impact on our expenses though.

I remember back in 2018 we would consistently spend around $4K – $4.5K a month for everything. It’s been hard to know what our baseline is atm because last year had so many one-off purchases (wedding, PPoR). It might take another year to see what it will look like. Will be interesting to see how this graph changes over the coming months.

Shares

The above graph is created by Sharesight

We didn’t make any purchases in January. We are saving a bit of extra cash in preparation for buying a new car later this year. The 2nd hand car market is still crazy and I’ll like to put it off for as long as possible but it’s something we’ll have to buy eventually.

Does anyone have any recommendations for a solid family car (SUV or wagons are preferred)? I’d love to hear about them in the comment section 🙂

 

Networth

JAN22 Net Worth $1,013,150 (-$27,714)

DEC21 Net Worth $1,040,864 (+$2,447)

I publish these net worth updates to keep us accountable, have others critique our strategy and show that reaching financial independence in Australia is very doable without winning the lotto, having a high paying job or inheriting a wad of cash. The formula to be able to retire early is simple, the hard part is being consistent and sticking to a plan for many years. The table at the bottom details our entire journey from being $36K in debt all the way until we reach 🔥


And that’s a wrap for 2021!

It’s wild to think that we are already in 2022, just like that meme, I feel like I am still processing 2020 🤯

December was here and gone in a minute for the Firebug household. So many Christmas breakups, family gatherings on both sides, friends coming back to town for the festive season, birthdays, NYE events and so on.

We hosted the annual Christmas day breakfast at our new home this year too. I recently bought a new barbie (I’m obsessed) and really wanted to put it to work.

This is living 🙌😍

I basically have started to barbeque just about everything now. And when the weather is good, it’s damn hard not to crack open a beer. I’m usually pretty strict with alcohol on work nights but I don’t know what it is about barbequing that makes me break the rules. I might have to start buying some non-alcoholic beers to lessen the effect 😅

Mrs FB had a hectic finish for the school year (as is always the case), but is super pumped about dropping down to 4 days a week starting next year 🎉🥳.

2021 was such a whirlwind of a year and I’m stoked that we managed to tick off all the major items we had on our list like buying a house and tying the knot.

Thanks a lot to everyone who reads the blog/listens to the podcast. I’ve got some great ideas for AFB and the Aussie FIRE community in 2022 that I can’t wait to share with you all 👊

Net Worth Update

So we lumped summed ~$210K into the markets in late December/early January. This was surprisingly difficult for us to actually pull the trigger.

The general consensus in the FIRE community is to not get caught up in timing the market. This is easier said than done.

I’m human just like the rest of you and I also read a fair bit of finance mumbo jumbo content too. It’s fun to read opinion pieces and I’ll watch the occasional YouTube video of some doom and gloomer who has put together a pretty slick video with nice editing on why the next recession is about to drop.

The hardest part mentally was the markets being at an all-time high (or close to it). No matter how much I read that it doesn’t matter if you’re in it for the long term, it’s still bloody difficult not to wait for a dip.

So I waited right until the end of December before we invested our lump sum. And right on cue, the markets had a slight tumble afterwards 🙃🔫.

We would have been so much better off if I had just invested that money straight away but such is life. And the downturn right after we invested $210K is a major reason the net worth only grew by $2K in December. The other reason was a pretty expensive month.

 

 

 

The FIRE portfolio actually went down slightly in December due to the market dip after our big investment. December was really expensive for us too with Christmas/holidays.

*Expenses include everything we spend money on to maintain our lifestyle. We do not include paying down our PPoR loan as an expense, only the interest
*Investment income is simply 4% of our FIRE portfolio divided by 12

Shares

The above graph is created by Sharesight

We’re all in baby!

$769K all in shares which blows my mind!

Man… it wasn’t too long ago that I was in my mid 20’s and reading US FIRE blogs on a daily, dreaming about reaching financial independence someday in the future. I can’t remember whose blog I was reading but they had just hit $700K in shares and I remember being awestruck by the figure.

It just seemed like so much god damn money to have invested. I thought it was going to take me forever to get anywhere near that amount.

So to see $769K on the screen is a bit surreal to be honest.

But on the flip side, finally investing all that money felt like a weight off our shoulders. It’s in the market now so whatever happens, happens. If there’s a huge recession in 2022… well… that would suck but we’ve just accepted that and it’s back to business DCA’ing each month which is so much easier to do.

We made three huge (for us) purchases in December/early January.

  1. $53K into VTS
  2. $62K into VEU
  3. $95K into A200

This brings the portfolio into the following splits

60% Aussie 40% International

and

43% Betashares 57% Vanguard

Some of you hawkeye readers may have noticed that this is slightly different to our latest strategy explained article (2.5). I’m actually going to write another updated strategy explained article because our investing strategy is very fluid and changes based on our current circumstances and priorities.

There are no major reasons why we went with the splits above, it’s just what we feel comfortable with atm. We also like to spread the management risk around by having a decent chunk of our portfolio in Betashares and not just Vanguard. It also helps that A200 is cheaper than VAS atm too.

Looking forward to hitting the $800K mark in the not so distant future 😁

 

Networth

JAN22 Net Worth $1,013,150 (-$27,714)

NOV21 Net Worth $1,038,417 (+$40,813)

I publish these net worth updates to keep us accountable, have others critique our strategy and show that reaching financial independence in Australia is very doable without winning the lotto, having a high paying job or inheriting a wad of cash. The formula to be able to retire early is simple, the hard part is being consistent and sticking to a plan for many years. The table at the bottom details our entire journey from being $36K in debt all the way until we reach 🔥


We finally hit it…

November was the month the Aussie Firebug household joined the two comma club and recorded a net worth of over a million dollars! I’m pretty sure we actually hit it in September but since I only record our net worth on the last day of every month, the market pullback at the end of September meant we missed it.

It’s a bit of a pointless milestone but something to celebrate nevertheless. I always knew I wanted to be good with money growing up but I never had an overarching goal that helped guide me in this endeavour until I discovered the concept of financial independence and then FIRE later on.

The concept of money is actually quite abstract if you think about it. I had a really interesting chat with Vijay Boyapati on the AFB podcast the other day which made me really ponder such thoughts such as what is money? And how does anything come to be a medium of exchange in the first place?

I made a connection early on in my life that everyone wanted more money and I thought people who had lots of it must be doing something right. I wasn’t really aware of the different circumstances and advantages that some people had which enabled them to get more money easier than others. Things like connections into good-paying jobs, a stable household that fostered learning and development, or sometimes just straight-up rich parents giving their kids everything.

I simply thought money was desirable, and those who had worked out a way to get a lot of it were smart… and I aspired to be one of those smart people. I had a secret money goal of becoming a millionaire before 30 in high school after reading countless articles on moneymag.com.au, Yahoo Finance, realetstae.com.au etc. They glorified the status of millionaires so much and really emphasised that if you were to obtain this elite financial achievement before 30, you were very special.

Our consumerism culture partly relies on the glorification of wealth to an extent. The marketing machine constantly pushing money, wealth and exorbitant lifestyles down our throats in Ads, Music videos, reality TV etc. Endless consumption is the fuel of a capitalist society which also drives the growth of assets which plays a huge part in why we are able to retire early. If everyone lived a FIRE lifestyle, none of us could retire early.

Oh, the irony!

Modern-day consumerism culture definitely had an effect on me growing up. I just kept correlating wealth with life progression which is funny because I live by a completely different life philosophy these days. The million before 30 was nothing more than a dream that didn’t have any tangible outcomes associated with it, I just wanted to get there.

So I fell a bit short of my meaningless high school dream but Mrs FB is still 29 so I can live my goal through her at least haha.

But wrapping this point up, whilst the status of millionaire is nothing more than an arbitrary term (that’s probably lost a lot of meaning in recent years anyway due to inflation), it’s still a decent achievement and one that the wife and I stopped to celebrate.

Net Worth Update

The share market was decent in November and we weren’t hit too badly by Christmas spending either which made for a sold month in terms of savings. But the real needle mover for the net worth came from the sale of IP2. The reason we had such a big jump was due to the fact that I hadn’t updated its valuation ($205K) in some time and the price we sold it for ($250K) was more than I thought we were going to get.

This should theoretically be the last big jump the net worth every sees since we’re 100% passive now in index funds.

 

Spending is higher than usual due to Christmas and a few bits and bobs for the house.

*Expenses include everything we spend money on to maintain our lifestyle. We do not include paying down our PPoR loan as an expense, only the interest
*Investment income is simply 4% of our FIRE portfolio divided by 12

Properties

IP2 has officially been sold which means we’re officially 100% passive investor now🥳🎉

We were extremely happy with the price we got and the selling process was a breeze (markets still hot in SE Queensland). We did pay a fair chunk in selling fees but there wasn’t much I could and tbh, the price was so much more than I thought we were going to get that I decided to just take the convenient option and just pay someone else to do it.

I’ve had a few people ask me why we sold and it really boils down to simplifying our life. I have a limited amount of mental bandwidth each week and whilst IP2 (or any of the other properties for that matter) wasn’t that much work, it was still more work than what our share portfolio requires. We just have shifting priorities these days.

The investment properties were 100% about making us money. I use to really enjoy researching and investing in property but those days are long gone. We’ve reached a point now where I don’t feel compelled to hustle for every buck like I did 5-10 years ago. I’m focussing more on lifestyle design these days. And managing the properties were a small drag on this lifestyle so we struck whilst the iron was hot and exited our last IP in November.

Property has been an amazing asset class for us and I’m still a big believer that it can be an incredible wealth-building tool for the right investor… we’re just ain’t the right investor these days and that’s all there is to it!

I’ll be removing this PROPERTY section in these updates from now onwards.

Property 1 was sold in August 2018
Property 3 was sold in April 2021
Property 2 was sold in November 2021

Shares

The above graph is created by Sharesight

SOL was officially sold in November for three reasons.

  1. SOL was originally Milton before the merger and with our exposure in A200 and VAS, I thought there was too much overlap and wanted to simplify our holdings. Selling Milton (that turned into SOL) was the obvious choice because we didn’t have that much money invested in it.
  2. The concept of legislation risk hit me like a mac truck when franking credit refunds were on the chopping block back in 2019. It turned out that Labor didn’t get elected but I remember thinking how pissed off I would have been if the rug was pulled out from under me during retirement… I decided that ETFs pose a slightly lower risk profile compared to LICs because of the structural differences between the two. I wrote more about this here if you’re interested.
  3. We wanted to execute our debt recycling strategy and needed a bit more cash to fully pay down the first split of our PPoR loan. Once IP2 settled and we had a decent chunk of cash, SOL ended up proving the rest of the $$$’s we needed to fully pay down our first loan. This wasn’t really a reason for selling SOL per se, more of a convenience and good timing.

With the sale of SOL we are now back down to 4 holdings. But now comes the hard part…

dropping ~$210K into the markets 😬

I swear the older I get the more I realise that good money habits and solid investing is 95% psychological.

I know what I should do. I have mountains of research and studies to comfort me in my decision and it should be made quickly with conviction… but I just can’t help and fall prey to the dangerous game of trying to time the markets 😅

The money has been transferred to our Pearler account for a few days now and I just keep checking the markets thinking how nice it would be for a dip. A 10% drop would be ideal, 5% would be lovely… hell… I’ll even take 2%!

ANYTHING!

No one wants to buy at the top and the decision is extra hard when it’s a lump sum. I’ve even answered questions like this a bunch of times on various AFF podcasts on what I would do in their situation but I’m telling you guys… when push comes to shove and you’re faced with the decision yourself… it can be difficult to execute the gameplan lol.

I’ll probably drop it in sometime this week but it’s so hard for me not to try and find the bargain. I’m often fighting my inner monologue that goes something like this:

“There’s always another crash Matt… just wait a little bit longer… Bitcoin had a crash the other day… Have a quick Google on what the experts think are going to happen… wow, so many of them are predicting GFC 2.0… yes… yes… keep going down the doom and gloom rabbit hole”

😂😂😂 it’s a brutal feedback loop.

 

 

Networth

JAN22 Net Worth $1,013,150 (-$27,714)

OCT21 Net Worth $997,604 (+$9,584)

I publish these net worth updates to keep us accountable, have others critique our strategy and show that reaching financial independence in Australia is very doable without winning the lotto, having a high paying job or inheriting a wad of cash. The formula to be able to retire early is simple, the hard part is being consistent and sticking to a plan for many years. The table at the bottom details our entire journey from being $36K in debt all the way until we reach 🔥


October was a great month for a number of reasons.

Regional Victoria COVID restrictions started to ease up and we were afforded a lot more freedoms which have been a real blessing. We had planned a weekend away with a bunch of friends that unfortunately had to be cancelled a few months ago. But due to the easing of restrictions, we re-booked the trip to the high country and just hoped that nothing else would pop up.

My mate Jimmy organised this trip which was a weekend away in an old school log cabin at Tamboritha… which some of you guys out there reading might remember from school camp! Most of the group went to the same school growing up and it was a trip to be back at Tamboritha as an adult nearly 20 years after our school camp there.

The high country was beautiful and one of the best features of the trip was the absence of phone service. The campgrounds were so remote that no one really looked at their phone for the entire weekend which was refreshing. We played a whole bunch of boards games (any Secret Hitler fans out there?) and cards and everyone was just living in the moment. I’d really forgotten what it’s like to hang out with people without mobile phones.

Negative 2 degrees in the morning was a bit rough, especially considering the showers were semi-outside lol. But overall, an amazing get-away with a great bunch of friends (and kids) that was much needed after all the recent lockdowns!

Net Worth Update

Oh so close… again 😅

Another month of just falling short of joining the two comma club see’s the old NW land in the high 900’s at the end of October. This is a much better result than I had anticipated considering our holdings in SOL (which came about after the Milton merger) had a decent pullback. I’m sorta kicking myself about not selling Milton before it merged… We’ve actually sold out of SOL now (mid-November) for two reasons.

  1. We wanted to sell Milton anyway to move to a pure ETF portfolio. This was mainly due to simplicity reasons (VAS, A200 and MLT covers a lot of the same companies)
  2. We are gearing up to do debt recycling after we sell our last investment property (IP2)

But if I had just sold Milton before it merged we would have been up around $10K, but it’s easy to look back and make all the right moves… I can’t really complain after what happened with MLT (the special dividend and insane jump in share price) and we’re still way up even with this $10K pull back so… meh.

The major driver for the increase in OCT came from good old fashion hard work and savings with a little bump from our Super accounts.

 

Pretty normal month on the expenses front.

*Expenses include everything we spend money on to maintain our lifestyle. We do not include paying down our PPoR loan as an expense, only the interest
*Investment income is simply 4% of our FIRE portfolio divided by 12

Properties

IP2 has been on the market for less than a week and we have 4 offers, all of which we’re willing to accept 🎉🥳. We just have to accept one now and sort out the settlement date which is super exciting. We should have everything wrapped up by the November update I think 😁. This was the final piece of the puzzle for us to execute our debt recycling strategy so I’m really excited to nip this in the bud.

Property 1 was sold in August 2018

Property 3 was sold in April 2021

*DISCLAIMER*
The current value of our properties is a rough guesstimation based on similar surrounding properties. I only really update these when we get an official bank valuation

ETFs/LICs

The above graph is created by Sharesight

SOL KILLED us in October… but as I’ve mentioned above, we already make a lot of money with the special dividend from Milton (not shown in this screenshot) and the recent share price jump. So if I zoom out a bit, MLT was still a great investment and I’m more than happy to offload SOL even though it’s dropped this much in the last month.

No buys again in October. Getting everything ready for debt recycling now which should see us drop in ~$200K in the coming weeks. Watch this space 👀.

 

Networth

JAN22 Net Worth $1,013,150 (-$27,714)

SEP21 Net Worth $988,020 (-$11,002)

I publish these net worth updates to keep us accountable, have others critique our strategy and show that reaching financial independence in Australia is very doable without winning the lotto, having a high paying job or inheriting a wad of cash. The formula to be able to retire early is simple, the hard part is being consistent and sticking to a plan for many years. The table at the bottom details our entire journey from being $36K in debt all the way until we reach 🔥


We managed to fit in a quick little end of season snowboard trip in September 🏂.

There was a killer deal going and after being cooped up inside the house for so long, we didn’t particularly care that the snow wasn’t great, or that all the runs weren’t open. We just wanted some adventure back in our lives.

Mrs FB was still on school holidays and I decided to take advantage of my newly found freedoms being a freelancer with a decent amount of passive income flowing in from our portfolio. I remember saying to Ms FB on the chairlift…

“Isn’t it incredible that we can do this on a Monday… like I know you’re on school holidays atm, but the fact that we have the option to do this without financial or work worries is incredible. It’s the little things like this that made us pursue FIRE in the first place!”

I even tweeted about it because a lot of FIRE content focuses on how to get to financial independence but not so much about the life it can create for you.

And we haven’t even reached full FIRE yet. But the flexibility of being a freelancer with a portfolio that covers more than half our expenses is bloody liberating. Mrs FB has begun the process of weaning off full-time work starting from next year which is very exciting 👏. She’s moving from full time to 4 days a week which will be huge. Just dropping one day a week adds an extra 52 days off a year. And it also helps both of us adjust to a life that’s not dominated by work commitments which is fun to think about.

Net Worth Update

It’s as if the market gods knew we were really, really close to the $1M mark 😂😅.

Not a great month with the downturn in the markets and me not clocking up that many days for my business. We also had the improv snow trip and the endless amounts of furnishings we’re still getting through for the house (when will it end?).

 

Our expenses continue to level out after all the massive one-off purchases from earlier this year.

*Investment income is simply 4% of our FIRE portfolio divided by 12

Properties

Our last investment property (IP2) has officially hit the market now! Really keen to see how it performs and depending on how quickly it moves, there’s a chance that we might have everything settled before the end of the year. Really exciting to think about a completely passive portfolio 😁

Property 1 was sold in August 2018

Property 3 was sold in April 2021

*DISCLAIMER*
The current value of our properties is a rough guesstimation based on similar surrounding properties. I only really update these when we get an official bank valuation

ETFs/LICs

The above graph is created by Sharesight

A decent dip in September but I can’t say I wasn’t expecting it after all the gains we witnessed in August. We purchased $5K worth of VAS in September too.

 

Networth

JAN22 Net Worth $1,013,150 (-$27,714)

AUG21 Net Worth $999,022 (+$42,710)

I publish these net worth updates to keep us accountable, have others critique our strategy and show that reaching financial independence in Australia is very doable without winning the lotto, having a high paying job or inheriting a wad of cash. The formula to be able to retire early is simple, the hard part is being consistent and sticking to a plan for many years. The table at the bottom details our entire journey from being $36K in debt all the way until we reach 🔥


Not a whole lot to report for August.

The month was mostly just us continuing to set up our home in lockdown which meant bulk orders to Kogan, Kmart and Bunnings.

I was never really that into plants before but boy oh boy how things have changed. It’s incredible what an enormous Monstera in the kitchen can do to the feng shui of a room 😂🌱

I’ve also finally managed to start a project that’s been on my mind for probably over 10 years… a nerds man cave!

Here’s the progress so far.

I’ve got a few more things to add but I’m really happy with how it is coming together. The AFB podcast has not been consistent over the last few years because I never had a creative space where I could focus on writing/recording pods. I can’t tell you how different the vibe is when I start work or create something for AFB in my new room compared to the set-up in London.

I have heaps of other projects that I can’t wait to get stuck into. I want to build a little garden shed with my old man, a veggie garden, bike racks in the garage and many more. I guess this is why people say that there’s always something to fix/improve when you buy a house 💸

Oh and I’ve sorta become obsessed with turning every conceivable object in our home into a smart device lol. I’ve always been interested in home automation and now I can finally put some of my research into practice. One project I’ve got high on my list is to turn our garage door into a smart door. Google home (on my phone) knows my location and will be able to open my garage door within 100Ms or close it once I’ve left the house. It’s completely unnecessary and ridiculous but I love it lol. It also doesn’t cost a bomb either (around $70 bucks).

I’m keen to hear from you guys in the comment section below if you’ve set up any cool home automations?

Net Worth Update

Ahhh man… C’MON 😂😂😂

Sooooo close to the big 1 mil this month but alas, we will have to wait a little bit longer. Reaching the million is nothing more than an arbitrary figure and doesn’t actually mean anything but it’s still a nice milestone to hit and does make us stop and look back at how far we’ve come.

The share market went bananas in August plus Mrs FB had a pretty big tax refund which meant a hefty amount of cash contributed to an overall excellent month for the net worth.

Oh and I almost forgot but another huge shoutout to Milton for continuing these epic returns over the last few months. We (Milton shareholders) got a special dividend plus the share price went up and Milton return 15.6% in the month of August!!! I got really lucky with this one considering I’m selling it soon. I don’t know a whole lot about SOL but I was going to sell Milton anyway so the recent gain has been the cherry on top!

The FIRE portfolio continues to grow and is now at an all-time high of $760K

Our expenses dropped off dramatically as we returned to ‘normal’ life post-wedding/buying a home. They’re probably a bit low because of the lockdowns but we’ll see.

 

Properties

No updates this month.

Property 1 was sold in August 2018

Property 3 was sold in April 2021

*DISCLAIMER*
The current value of our properties is a rough guesstimation based on similar surrounding properties. I only really update these when we get an official bank valuation

ETFs/LICs

The above graph is created by Sharesight

Huge returns all around! The market can’t stay like this forever, but since it’s impossible to know when the next drop will be, buying for the long term seems like a great choice IMO.

 

Networth

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