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. ๐Ÿ”ฅ

I turned 35 in May, which firmly places me in my mid-thirties and the start of what some might call middle adulthood (35-49).

I’ve always been a ‘man with a plan’ kinda guy, and turning 35 got me thinking back to when I was 25, wondering where the younger Matt expected to be in 10 years’ time.

I had a few milestones I wanted to achieve:

  • Married โœ…
  • Kids โœ… (one is a start)
  • Home โœ…
  • Millionaire by 30 โŒ
  • Win a seniors flag โŒ
  • Live overseas โœ…
  • Reach financial freedom โŒ
  • Escaped the corporate grind โœ…โŒ (I still do some ‘grindy’ stuff for my business)
  • Maintain good health and fitness โœ…
  • Write a book โŒ
  • Buy a Tesla โŒ

There was probably more, but that’s all I can think of.

The 25-year-old me would probably be quite shocked that I haven’t reached FIRE yet. We were on track to get there well and truly before 35 with no show-stoppers in the way.

I had the right job, a low-cost-of-living area, and an amazing partner who was on the same page.

What happened, dude?

Well, heaps, actually.

The main factor being how fantastic meaningful work, blended with a better work-life, could be. This combination greatly diminishes the urge to race towards financial freedom.

I would have loved to have sat down and told my younger self to head overseas sooner rather than wait another four years.

That trip was the catalyst for a lot of great stuff that’s in my life right now.

I’m still working on the rest of the list that isn’t tied to a specific age (this includes my football career ๐Ÿ˜…).

You bet I’ve been watching the latest Model Y price drops with great interest.

I think the Tesla might turn from a red cross to a green tick any month now ๐Ÿ˜Ž๐Ÿš—

Net Worth Update

Decent month all around with the big influx of cash coming from a recent contract.


*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

Our passive income has never been this close to covering our expenses! It won’t be long before it crosses over. At that point, I might reduce these updates, as my goal was to continue them until our passive income exceeded our expenses. I’ll write more about this as we get closer to reaching this milestone.



The above graph was created by Sharesight

Solid month all around.

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.ย 


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

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