Aussie Firebug

Financial Independence Retire Early

I share these net worth updates to stay accountable, seek feedback on our strategy, and prove that achieving financial independence in Australia is feasible without relying on extraordinary luck or wealth. The table below tracks our journey from $36K in debt to reaching our goals. 🔥

First off, I want to address a mistake from last month’s update.

I forgot to record the sale of 87 VTS units on 08/12/2023 in my personal spreadsheet during an extremely busy December period. Although it was recorded in Sharesight, I forgot to add that sale to my Google Doc File, which is where these updates are ultimately calculated.

I’ve updated the February figures, and all future updates will now include the VTS sale.

Special thanks to Pat and David for spotting the discrepancy and bringing it to my attention.

In other news…

I’ve been pouring my weekends into making our co-working space dream a reality, and we’re almost at the finish line for our big launch in April!

This project has been so much fun.

I’ve gone into business with one of my best mates, and we’re both building this dream to address a core problem in our lives.

We work from home and want to connect more with other creatives in our community.

The best part about this project for me was the incentives from both parties involved.

Of course, we need to cover our costs, and turning a profit would be a bonus, but what truly matters is creating an amazing communal working environment for us and other locals. At this point in our lives, this pursuit holds greater value than any financial gain.

And that’s the cool part. We are both in a fortunate position (financially speaking) to start pursuing fun and fulfilling projects that ignite the soul.

We worked all weekend last week, but it didn’t feel like work at all. I was with one of my best mates installing sound baffles, pumping Kanye on the speakers, talking smack, and dreaming of what this place could turn into!

If I think back to my previous ~10 years in the corporate world, work was never this fun. Ever!

On the other hand, I’ve hardly had any free time in the last two months (the podcast is coming back soon, I swear😅).

Between my Data business, the co-working dream and tending to my 5-month-old daughter… it’s been a tad hectic.

But at least we have secured our first member at the space 🥰.

Net Worth Update

Another big month for all our assets across the board, especially BTC.

BTC has surged to occupy more than 5% of our portfolio, a significant jump from its initial position of less than 2%. This year, it’s seen an incredible rally, and it’ll be fascinating to observe its trajectory in 2024, whether it continues to climb or perhaps takes a dip.

We don’t have any hard rules about when we would consider selling off part of our BTC split.

From the beginning, I’ve always said that I’m looking forward to actually using our BTC one day and not just hodling it indefinitely.

But I can’t lie… If BTC truly went to the moon, I would, at some point, have to reconsider our strategy and potentially sell some of it down to rebalance the portfolio. It would need to get up towards 50% of our portfolio, though, so it’s a long way off.

That’s only in an environment where I couldn’t spend BTC directly.

It’s a shame Tesla stopped accepting BTC as payment a few years ago. We would have legitimately considered paying for the new Model Y in BTC instead of fiat.

Maybe Musk will bring that feature back one day 🤞.


*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

We had a pretty low month expense-wise, but I spent quite a bit of the company’s money onboarding my first staffer, which was exciting!

The demand for data engineering work with government departments continues to grow, and onboarding some help was part of my overall dream of having a small local data team.



The above graph was created by Sharesight

It seemed like the whole world was on the rise in Feb.

Huge returns across the board.

We did not buy any shares in this month.

Question: Why do we have A200 & VAS?
We started buying A200 in August 2018 after Vanguard didn’t lower their MER to match A200. Practically speaking, A200 and VAS are almost identical so it makes sense to go with the lower MER. As an added benefit, I like the fund diversification between Vanguard and Betashares. We decided to hold both after making the switch since it doesn’t have any impact other than some extra accounting work once a year. 


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Download my personal spreadsheet I use to calculate my net worth each month

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