Aussie Firebug

Financial Independence Retire Early

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 🔥

A very quiet March for us this year.

We had one of our best friends tie the knot and I’d almost forgotten how much fun big weddings are 🥳 . The wedding was originally scheduled for 2020 which was when we were overseas, so one of the small benefits (for us 😜) of Covid was that the date was pushed back due to the restrictions. We were incredibly lucky to pull off our destination wedding last year but so many of our friends had to delay/push theirs back. I’ve heard that some of the more popular venues have a backlog of more than 2 years 😱. It’s pretty incredible how Covid has affected so many different industries in different ways.

Another thing that’s been on my mind this year is buying a new car. I know I’ve spoken about it but I’m in a real dilemma of choosing a cheap reliable petrol car that will get the job done or waiting a tad longer to splash out a bit on a new EV (electric vehicle).

This decision is partly financial and partly wanting to join the EV revolution that I think is just beginning.

I’m just guessing here but I reckon fossil fuel cars will be dead by 2030. Petrolhead enthusiasts might still be buying them but just look at the trend of renewable technologies. Solar, wind, thermal, storage etc. are all getting better and cheaper and it’s only a matter of time before it makes sense financially to make the switch. It’s already happened with solar panels and with the amount of new EVs being produced each year, batteries will surely be joining the party soon.

There’s a premium to pay at the moment but I just love the self-sufficient concept of electrifying as many things in your life as possible and harnessing the energy of the sun.

Some car manufacturers are also talking about a Bi-directional charging capability for new EVs. So in theory you could charge your EV at home during the day from your solar panels and use some of the battery at night to power your house. Your car could double as a home battery when you’re not using it. I think this could have enormous potential for old degraded batteries that aren’t suitable for cars anymore. Imagine if you could recycle old degraded car batteries into a home storage solution! But I’m no electrical engineer and there might be technical reasons why this is hard to do/impossible so we’ll just have to wait and see.

Regardless, the potential of EVs is exciting to think about and maybe there will be some kick-ass rebates in the not so distant future.

I’d love to know if you’re stuck in the same predicament and what your thought process is in the comments below 🙂



Net Worth Update

The share market bounced back which was the main contributor to our gains this month.

But the big news from March was our purchase of Bitcoin.

You can read about our decision in this detailed article here, but in a nutshell, we bought Bitcoin for three reasons:

  1. I’m personally interested in this technology and get joy from seeing how it works and participating
  2. Speculative play. The value proposition of Bitcoin is favourable IMO
  3. It’s a vote for a more democratic financial system

There was some talk about the energy consumption concerns of Bitcoin that I didn’t address in my article. And that’s a fair point which is ironic considering how pro-renewables I am.

I posted the below on Facebook which basically sums up how I feel about it:

Bitcoin uses a lot of energy, no getting around that. But what about the energy the current system uses?

Here is a study that suggests that the banking industry uses twice as much.

We still need to address how crypto is powered but most people gloss over the inefficiencies of the current system it could one day replace.

Maybe the energy concerns will be the downfall of Bitcoin, who knows?

But when was the last time a new technology that offers a better solution to a current system was not adopted because it used a lot of energy? And if the report is accurate, it actually uses less than half of the energy it takes for the current system to run anyway! I understand that you can’t really compare the current financial system to Bitcoin just yet but surely you have to acknowledge that the modern-day banking industry uses a shit load of energy to keep the lights on.

Bitcoin (or another cryptocurrency) could offer a superior solution in the future for less overall energy and I think it’s important that the naysayers keep an open mind with regard to this point.

Also, for the pro-Bitcoin/crypto people out there in the FIRE community. For the love of God, can we stop being so bloody aggressive in the comment section when people have valid concerns about this new technology?

It pains me to see how cult-like some of the responses have been. Especially when someone is clearly just trying to learn a bit more.

Dismissing questions and concerns with “WRONG” or “You just don’t get it, HFSP lol” doesn’t help anyone. In fact, if you can’t explain the reason why you bought Bitcoin or another crypto, odds are you’re only buying it in hopes that you can sell it for a profit later.

One of the FIRE community’s greatest strengths is explaining financial concepts in an easy to digest manner.


$12K of Bitcoin has joined the fold.

*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

Another high month for the blue line.


The above graph is created by Sharesight

No new shares in March.



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