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. 🔥

*Updated 08/02/2024: There was a miscalculation for this update that was originally published. I’ve updated the title and numbers to be accurate. The oversight was due to failing to record the sale of 87 VTS units on 08/12/2023 in my personal spreadsheet during a busy period, which has now been updated for accuracy.


I’m not one for making New Year’s resolutions, but if there’s one area where I really want to improve in 2024, it’s getting stuff done now and not later.

Tomorrow is often the busiest day of the week.” – Spanish Proverb

This quote really hits home for me. It perfectly captures how I often catch myself thinking, “Ah, I’ll just do it tomorrow,” but then, before I know it, four weeks have flown by and it’s still not done.

I’ve made it a real priority to just do the bloody job (whatever they my be) today and don’t push it out unless it’s absolutely necessary.

I used to stroll by the weeds sprouting in my garden, always telling myself, “I’ll tackle that over the weekend.”

But this year, I’ve changed my tune. Now, the moment I spot them, I simply bend down and yank them out.

Starting off strong is key for me. I make it a point to pick out a couple of tasks in the morning, be it something on my laptop or just tidying up around the house, that I know I can knock out fast and easy.

It’s all about building that initial momentum. Once I’m on a roll, it’s easy.

This productivity hack does have its drawbacks… it’s harder to kick back and relax since it feels like there’s always something on the to-do list.

I’ve wrestled with this dichotomy my whole FIRE journey.

I want to reach financial independence so I can relax and prioritise all the other non-working aspects of my life. Yet, I can’t help but feel like I’m squandering an amazing opportunity if I’m not being productive.

One thing’s for sure… procrastination is no friend to either goal.

Another NY reoslution I’ve made that’s done wonders for my productivity (and probably hygiene) – no phone when I’m on the throne.

It’s unbelievable how much time I waste scrolling on my phone when I’m on the loo. It’s also kinda gross as well 😂.


Net Worth Update

The share market had another great month In January which propelled the NW to all time highs.

We saw a pretty hefty chunk of cash go out the door, thanks to a few pricey buys we needed for setting up the co-working space. I’m not including those in our ‘expenses’ chart below since they weren’t about keeping up our standard of living. Instead, they were one-off purchases tied to getting the new business off the ground.


*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




The above graph was created by Sharesight

Seeing nearly $5K in dividends come through in January was definitely a welcomed sight.

I found myself mulling over our passive income setup recently.

We’ve got five days each year that we really look forward to. There are the four days when dividends get paid out, plus that extra special day when we receive our refund from the franking credits. And honestly, the wait between those five days never feels long. Just as one batch of dividends lands in our account, it feels like the next payout is just around the corner.

I love this way to invest, especially from a psychological point of view. It’s like having a mini payday always on the horizon.

Passive investing. Simply amazing!

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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