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 for retiring 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 squeeze in a winter escape to Bali in June.
In my July update from last year, I briefly discussed the extent of Bali’s transformation, and this recent trip only reinforced that impression.
Bali has always been the Bogan capital of the world to me. But that reputation needs serious reform.
Don’t get me wrong, you’ll still occasionally bump into the southern cross-tattooed, foul-talking drunk bogan in Kuta. But further up the coast in Legian and Seminyak lies pure paradise.
I was quite surprised to learn about its stellar reputation worldwide as well. Americans often choose to travel over 20 hours to vacation in Bali instead of opting for more “local” destinations like Mexico or the Caribbean.
During this trip, I was also on a reconnaissance mission. I have a strong desire to permanently incorporate a Southeast Asian destination into my lifestyle at some point.
In my line of work, I possess a unique superpower: the ability to perform meaningful work without being physically present. This blessing allows me to escape Victoria’s winter for a few weeks every year, all while maintaining a sense of productivity.
During a laid-back holiday like in Bali, I tend to get a bit bored. I reach my limit after a week or two of pure relaxation.
However, incorporating a few weeks of meaningful work into my stay changes that dynamic. That’s why I was eager to find a cool co-working space.
I found a place called GoWork (a rip-off of WeWorks haha) and it was awesome!
It cost me $14 AUD for the day but they have monthly rates which work out a lot cheaper.
Kudos to the interior designers responsible for this space as well. I took numerous pictures, drawing inspiration for when I eventually have the opportunity to venture into starting my own co-working space in Latrobe Valley.
In other exciting news, I’m thrilled to announce that I am finally organising a meetup for the FIRE community in my hometown of Traralgon.
The good folk at RASK are coming down as part of their roadshow tour. They’ve asked me to talk at this event and I thought it would be a great opportunity.
There are only 100 tickets available and 28 have already been sold.
You can use the code “15OFF” until this Friday to get 15% off.
Net Worth Update
In June, everything experienced an upward trend, but the main increase came from the renewal fees for my data platform license for another year.
I license the platform on an annual basis, and it has been 12 months since my client initially signed up.
I am currently working on two promising leads, and I am hopeful of securing the next contract before the end of the year which might mean another big bump but we’ll see.
*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 expenses during June were relatively normal, as we had already paid for the Bali trip in the preceding months.
Fantastic returns across the board!
With the fiscal year now concluded, I made the decision to evaluate the performance of my portfolio over the past 12 months, and the results were surprising to me.
Nearly 17% from passive ETF’s!!!
Yeah, I know shares had a big year the previous year but still, pretty cool to see.
Question: Why do we have A200 & VAS?
Answer: 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 other impact other than some extra accounting work once a year.