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 🔥

October was a great month for a number of reasons.

Regional Victoria COVID restrictions started to ease up and we were afforded a lot more freedoms which have been a real blessing. We had planned a weekend away with a bunch of friends that unfortunately had to be cancelled a few months ago. But due to the easing of restrictions, we re-booked the trip to the high country and just hoped that nothing else would pop up.

My mate Jimmy organised this trip which was a weekend away in an old school log cabin at Tamboritha… which some of you guys out there reading might remember from school camp! Most of the group went to the same school growing up and it was a trip to be back at Tamboritha as an adult nearly 20 years after our school camp there.

The high country was beautiful and one of the best features of the trip was the absence of phone service. The campgrounds were so remote that no one really looked at their phone for the entire weekend which was refreshing. We played a whole bunch of boards games (any Secret Hitler fans out there?) and cards and everyone was just living in the moment. I’d really forgotten what it’s like to hang out with people without mobile phones.

Negative 2 degrees in the morning was a bit rough, especially considering the showers were semi-outside lol. But overall, an amazing get-away with a great bunch of friends (and kids) that was much needed after all the recent lockdowns!

Net Worth Update

Oh so close… again 😅

Another month of just falling short of joining the two comma club see’s the old NW land in the high 900’s at the end of October. This is a much better result than I had anticipated considering our holdings in SOL (which came about after the Milton merger) had a decent pullback. I’m sorta kicking myself about not selling Milton before it merged… We’ve actually sold out of SOL now (mid-November) for two reasons.

  1. We wanted to sell Milton anyway to move to a pure ETF portfolio. This was mainly due to simplicity reasons (VAS, A200 and MLT covers a lot of the same companies)
  2. We are gearing up to do debt recycling after we sell our last investment property (IP2)

But if I had just sold Milton before it merged we would have been up around $10K, but it’s easy to look back and make all the right moves… I can’t really complain after what happened with MLT (the special dividend and insane jump in share price) and we’re still way up even with this $10K pull back so… meh.

The major driver for the increase in OCT came from good old fashion hard work and savings with a little bump from our Super accounts.


Pretty normal month on the expenses front.

*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


IP2 has been on the market for less than a week and we have 4 offers, all of which we’re willing to accept 🎉🥳. We just have to accept one now and sort out the settlement date which is super exciting. We should have everything wrapped up by the November update I think 😁. This was the final piece of the puzzle for us to execute our debt recycling strategy so I’m really excited to nip this in the bud.

Property 1 was sold in August 2018

Property 3 was sold in April 2021

The current value of our properties is a rough guesstimation based on similar surrounding properties. I only really update these when we get an official bank valuation


The above graph is created by Sharesight

SOL KILLED us in October… but as I’ve mentioned above, we already make a lot of money with the special dividend from Milton (not shown in this screenshot) and the recent share price jump. So if I zoom out a bit, MLT was still a great investment and I’m more than happy to offload SOL even though it’s dropped this much in the last month.

No buys again in October. Getting everything ready for debt recycling now which should see us drop in ~$200K in the coming weeks. Watch this space 👀.



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