Today my guest is Queenie Tan. She’s a 26-year-old Sydneysider who has amassed over 350K followers on various social media platforms. Raised by a single dad in Sydney, Queenie was earning $400 a week after she moved out of home at just age 19. A few years later she was able to save a $100,000 property deposit and now at age 26, has a net worth of half a million dollars.
Some of the topics we cover in today’s episode are:
Queenie’s upbringing and relationship with money (00:02:12)
How Queenie built her net worth to $500K by age 26 (00:10:03)
Dropping out of uni to start earning money (00:15:40)
Changing jobs every couple of years (00:21:11)
Queenie’s thoughts on the term “Finfluencer” (00:46:28)
Financial content creators and the ASIC guidelines (00:51:09)
Sydney housing markets and financial freedom (01:05:34)
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 🔥
I finally managed to get the 2022 FIRE survey published the other week.
2022 FIRE Survey dashboard
I would like to get other communities involved in this next time. I only advertised the survey on my channels and Facebook group and even though I was happy with the number of submissions, I still feel like it can improve.
I liked the granularity of this year’s dataset but I need to strike a fine balance between asking a lot of questions and making the survey easy to complete. I’m thinking of removing a bunch of questions next year so it’s quicker to finish.
If anyone completed the survey last year and has feedback, please let me know in the comment section 🙂
In other news, my brother-in-law was telling me about these non-alcoholic (NA) beers I needed to try late last year.
My favourite non-alcoholic beer
See, I’ve never been a massive drinker but I will indulge in a couple of cold ones a few times a week (does that make me a big drinker 🤔?).
It sometimes feels illegal to barbeque on a hot day without a stubbie in your hand. But during a heat wave late last year (yes, we do get them in Victoria) I found myself drinking 3-5 beers every day for a week straight!
That may be a lot for some, and not a lot for others. Regardless, it crossed my mind that all these beers would add up eventually and I should probably cut back a bit.
I then stumbled across a podcast by Andrew Huberman who is a neuroscientist at the Stanford School of Medicine.
This podcast was a big eye-opener for me. I’m sure most people know alcohol is bad for you, but listening to Andrew break down how regular alcohol consumption basically destroys the brain was scary. The really surprising part was just how little you need to be drinking to become affected. I always thought it was only those who were getting wasted regularly, but apparently not!
I finished that podcast and thought about those beers my brother-in-law was praising as the only decent-tasting NA.
I went down to Dan Murphies later that day and picked up a 4-pack. I haven’t had a light/mid/full-strength beer since Christmas!
I even went to a stag party two weeks ago and wondered how long I could last before I was bullied into full-strength beers. The weird thing is that moment never came and most people didn’t care/notice I wasn’t drinking full-strength cans.
I’m sure it had something to do with the age group (there’s more social pressure as a young fella to get wasted with the boys) but I’m more convinced that simply holding a can that looks like a craft beer has a hypnotizing effect of being part of the gang.
I’ve been in social situations where I couldn’t drink (designated driver for example) and for some reason, it’s so much weirder to be around people drinking when you don’t have anything to hold as opposed to drinking a NA beer. Even a can of soft drink doesn’t quite have the same effect.
I didn’t feel outcasted drinking my NA as much as I thought I would.
Social drinking is an enormous part of Australian culture. As I said earlier, I’m not a big drinker and I take my health and fitness very seriously. But I love catching up with my mates at the pub and this inevitably leads to alcohol consumption. I’d tried to go to the pub and drink lemon lime and bitters but it almost always ended up with me being roasted 😂.
I have never had a great-tasting NA beer before trying Heaps Normal. And I’ve recently discovered 4 Pines which is fantastic too.
I’m now drinking the same amount as before, but with fewer hangovers. And I also get to have a few after BJJ training to help me hydrate!
I’m not ruling out alcohol forever (there’s actually a tiny amount in these NA beers anyway), but I’m going to see how long I can last before having another.
Net Worth Update
The sharemarket roared into the new year.
Big gains all round except for our cash reserves.
.
*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
We booked a trip to Japan/South Korea in January. Flights + accom sent our spending way up!
Gains across all holdings with the Australian market leading the pack.
No more big invoices to cash yet so we continue to keep a decent cash buffer.
We didn’t buy shares in January.
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.
Welcome back to the third annual Aussie FIRE survey results!
In case you missed last year’s results, you can grab them here.
This year’s survey added a few more asset classes and more detailed expense breakdowns. I was going to add time intelligence to some of the visualisations but I ran out of time. If you’re interested in the historic relationship between the 2021 and 2022 datasets please message me. I have withheld the Longitudinal Survey Identifier (LSI) from both datasets for security reasons but they are available upon request. I would welcome further analysis between last year’s survey and this one.
I’m so happy to report that the survey had 1,025 submissions across 18 countries.
Feel free to download the anonymized results of the survey here under the Open Database License (ODbL). I really look forward to seeing what you find—if you share on social media, make sure you tag me and I’ll give it a shout-out!
Enjoy!
Aussie Firebug
Firebug Profile
Geography
1,025 responses
What country do you live in?
995 responses
What state/territory do you live in?
Age Range
1,024 responses
How old are you?
Sex
1,025 responses
Sex
Relationship Status
1,025 responses
Relationship Status
Are you DINK?
550 responses
Are you DINK? DINK = dual income no kids
Kids
848 responses
Do you have kids?
543 responses
Do you want kids?
Education
1,025 responses
Highest level of education
Employment Status
1,024 responses
Employment status
Industry
1,021 responses
What industry do you work in?
Living Status
1,025 responses
Living Status
PPoR Worth
685 responses
How much is your PPoR (Principal Place of Residence) worth?
After-tax Income
1,019 responses
What’s your AFTER-tax income per year?
1,019 responses
What’s your AFTER-tax income per year?
1,019 responses
What’s your AFTER-tax income per year?
Net Worth
1,025 responses
This wasn’t a direct question. The figure was calculated from other fields
Expenses
Housing Expenses
960 responses
Estimated housing expenses per year?
How much do you spend on rent/interest repayments, rates, utility bills a year? If you’re filling in this survey as a couples/households, enter your combined expenses.
*Don’t include your mortgage repayments or investment property expenses here. Only interest repayments if you have a loan.
934 responses
Estimated housing expenses per year?
How much do you spend on rent/interest repayments, rates, utility bills a year? If you’re filling in this survey as a couples/households, enter your combined expenses.
*Don’t include your mortgage repayments or investment property expenses here. Only interest repayments if you have a loan.
Holidays Expenses
977 responses
Estimated travel/holiday expenses per year?
How much do you spend on travel/holidays a year? If you’re filling in this survey as a couples/households, enter your combined expenses.
807 responses
Estimated travel/holiday expenses per year?
How much do you spend on travel/holidays a year? If you’re filling in this survey as a couples/households, enter your combined expenses.
Childcare/schooling Expenses
374 responses
Estimated Childcare/schooling expenses per year?
If you’re filling in this survey as a couples/households, enter your combined expenses.
363 responses
Estimated Childcare/schooling expenses per year?
If you’re filling in this survey as a couples/households, enter your combined expenses.
Transport Expenses
954 responses
Estimated transport expenses per year?
How much do you spend on petrol + maintenance if you have a car? Or, how much do you spend on public transport if you don’t own a car.
978 responses
Estimated transport expenses per year?
How much do you spend on petrol + maintenance if you have a car? Or, how much do you spend on public transport if you don’t own a car.
Food/dining Expenses
1,004 responses
Estimated food/dining expenses per year?
How much do you spend on food and going out to eat a year? Think about how much you spend on grocery bills a week plus any restaurants you frequently visit.
978 responses
Estimated food/dining expenses per year?
How much do you spend on food and going out to eat a year? Think about how much you spend on grocery bills a week plus any restaurants you frequently visit.
Other Expenses
960 responses
All the other expenses per year?
Everything else you spend money on should be included below. Sports, pets, entertainment, insurance, shopping, medical etc.
Investing
Have you reached FIRE?
1,025 responses
Have you reached FIRE?
Investing Experience
1,023 responses
How many years have you been investing for?
FIRE Number
999 responses
How much in todays dollars would you need invested to be financially independent?
E.g. if you needed $1.25M to be FIRE. Enter in 1250000
Withdrawal Rate
1,006 responses
How much are you planning to withdrawl from your portfolio to live on each year (as a percentage)?
Cash (Median)
948 responses
How much do you have invested in CASH?
LIC (Median)
260 responses
How much do you have invested in LICs? LIC = Listed Investment Companies
Aussie ETFs (Median)
834 responses
How much do you have invested in DOMESTIC ETFs (companies in the ASX)?
International ETFs (Median)
603 responses
How much do you have invested in INTERNATIONAL ETFs (companies listed outside of the ASX)?
Individual Shares (Median)
588 responses
How much do you have invested in INDIVIDUAL SHARES?
Managed Funds (Median)
130 responses
How much do you have invested in managed funds?
Bonds (Median)
78 responses
How much do you have invested in BONDS?
Defined Benefit (Median)
37 responses
How much is your DB worth?
Annuity (Median)
7 responses
How much is your annuity worth?
Invetment Property Equity (Median)
369 responses
How much are your investment properties worth – How much do you owe on your investment properties?
Precious Metals (Median)
88 responses
How much do you have invested in PRECIOUS METALS?
P2P Lending (Median)
50 responses
How much do you have invested in P2P LENDING?
Cryptocurrency (Median)
361 responses
How much do you have invested in CRYPTOCURRENCY?
Options (Median)
13 responses
How much do you have invested in OPTIONS?
Other Assets (Median)
160 responses
How much do you have invested in OTHER ASSETS? List the dollar amount you have tied up in other assets that have not been listed above.
Most popular ASX Products (Top 20)
868 responses
Which of these ASX listed products do you own (if any)?
Do you use DRP?
1,011 responses
Do you use DRP (Dividend Reinvestment Plan)?
Do you use DSSP or BSP?
1,017 responses
Do you use DSSP or BSP? If you don’t know what these are, select no
Investment Structure
1,014 responses
How do you own your investments?
Super
Super Balance by Age (Median)
1,017 responses
How much do you have invested in SUPER?
Relying on Super?
1,024 responses
Will you be relying on Super to reach financial independence?
Max Super?
1,022 responses
Do you max out your Super contributions each year?
SMSF
1,025 responses
Do you operate a self-managed super fund (SMSF)?
Most popular Super Funds (Top 20)
946 responses
Which Superfund(s) are you with?
Miscellaneous
Financial Planners
1,025 responses
Have you used a financial planner?
189 responses
Was the financial advice worth it?
189 responses
Was your financial planner independent (as legally defined by ASIC)?
Most popular Trading Platforms (Top 20)
978 responses
Trading Platform
Most Popular Side Hustles (Top 20)
376 responses
Which of these side hustles do you do (if any)?
Debt Recycling
1,012 responses
Do you participate in debt recycling? Select no if you don’t know what debt recycling is.
Methodology
This report is based on a survey of 1,025 Firebugs from 18 countries around the world.
The survey was fielded from November 1st to December 1st 2022.
Unfortunately, Google forms doesn’t have a timer option which means I was unable to validate submissions
Respondents were recruited primarily through channels owned/ran by aussiefirebug.com which included: Aussie FIRE Discussion Facebook group, Aussie Firebug Twitter Account and Aussie Firebug Blog
All income figures are based on AUD.
Net worth figures are in AUD
Some visuals do not always take into consideration all the answers due to visual issues. There were 78 distinct values for banks for example. Reducing that to a top 20 is more visually appealing. You can always download the entire dataset if you want to know all the submissions
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 🔥
Speaking as someone who works in data and analytics professionally, you wouldn’t believe how many companies are trying to sprint before they crawl.
The data science hierarchy looks something like this.
Data Science hierarchy
A lot of people are trying to jump to the top of the pyramid (artificial intelligence/machine learning) without establishing a solid base.
Half the time these companies don’t even have enough data to warrant paying expensive Data Scientists.
I’ve worked on some incredibly expensive proof of concept projects that had hoped to train models to better predict future revenue streams.
The issue? The company couldn’t even produce the necessary datasets that were needed to train the models. They couldn’t extract their own data into a meaningful format (the Collect part of the pyramid)
They were trying to bake a complicated cake without having the ingredients first.
On the contrary, Spotify’s ‘2022 Wrapped’ feature is a perfect example of how to visualise data in a meaningful and useful way.
They’re not using any fancy pants AI/ML algorithms or training models or any of that higher-level stuff.
They’re just showing you your data. But their presentation of the data is what sets it apart.
This was the first year they releases a wrapped version for podcast hosts. It was really cool seeing some stats for the Aussie Firebug podcast.
It was a lot of fun seeing some of the posts you guys tagged me in on social media too. It means a lot to me when I see the AFB pod has made their top 5 podcasts for the year 🙂
P.S.
I’m so excited to meet some of you guys at the Rask event this Friday.
The event was a total sell-out and there will be more details on the afterparty on my Facebook events page here.
Net Worth Update
November was pretty much a carbon copy of October. Shares and Super were up, Bitcoin went backwards and our cash holdings went down after booking another holiday.
The big story in November for Bitcoin and Cryptocurrencies, in general, was the downfall of a Bahamas-based cryptocurrency exchange called FTX.
FTX’s founder Sam Bankman-Fried (SBF)
Before I get into my thoughts I want to make it crystal clear that I have part of my wealth tied up in Bitcoin.
This inevitably means my views are so what biased. It’s hard for me to objectively write about this story without it sounding like I’m trying to defend something I’m invested in 😅… but here goes nothing.
FTX was at one point in time, the third-biggest cryptocurrency exchange (by volume) in the world. We’re not talking about small potatoes here.
SMB (pictured above) and Zixiao Wang founded FTX in May 2019. On the 11th of November 2022, FTX filed for bankruptcy with reports stating $1.7 billion of customer funds had vanished.
😬
The story is still unfolding but obviously, some shady shit went down and a bunch of people lost their money.
So many people on Twitter, Facebook (in my own group) and Reddit have been parading this story around like it’s some sort of ‘I told you so’ moment.
This attitude represents a fundamental misunderstanding of why Bitcoin was invented in the first place and how third-party intermediaries must be regulated.
It’s actually a bit similar to people trying to tell me investing in shares is like playing the casino every time there’s a market crash. Most of us in the FIRE community know that isn’t true, but it’s unbelievable how widespread that rhetoric is within the general public that doesn’t know how it works.
A quick history lesson on Bitcoin.
2008
An anonymous person/group called Satoshi Nakamoto designed the original bitcoin protocol in 2008 and launched the network in 2009. The whitepaper’s abstract read:“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”
2009
The genesis block was mined by Satoshi Nakamoto at the start of 2009. A secret message was instilled within the Block’s raw data:“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
On October 11, 2009, Martti Malmi helped create the first exchange (Bitcoin for fiat) of Bitcoin, called ‘New Liberty Standard’.
2010
In 2010, the first known commercial transaction using Bitcoin occurred when programmer Laszlo Hanyecz bought two Papa John’s pizzas for ₿10,000 ($253.3M AUD).
2011
In February 2011 bitcoin reaches parity with the US dollar. ₿1 = $1 USD
The first major users of bitcoin were black markets, such as Silk Road.
2013
Bitcoin’s momentum builds and suddenly rises from $125 USD in September to over $1,100 USD at the end of November.
On December 18, 2013, a drunk bitcoin trader created a meme when he misspelled hold as “HODL”.
2014
In July 2014, the exchange platform Mt. Gox announced that 850,000 Bitcoins (valued at $460,000,000 USD at the time) had disappeared from the portfolio of its clients. According to investigations, the theft occurred because the hackers managed to gain access to the credentials of an official auditor who worked for the exchange.
2015-2017
The block-size war
2017 – present
Multiple exchanges have been hacked and hundreds of millions have been stolen. The latest and most infamous being FTX
Bitcoin’s value has fluctuated dramatically
The network continues to run
There are other important things that have happened but that’s all the major ones I can think of.
What happened with FTX and all the other exchanges is not a fault of the technology.
Ironically, the entire value proposition of Bitcoin was a P2P transfer of value without needing a third party because they can’t be trusted… and then everyone started storing their coins with third parties.
Bitcoin was created to give financial sovereignty to the individual. You could send and receive your money without having to get permission from a financial institution.
Better still, you could protect your money from mistakes made by bureaucrats and central bankers.
The Australian dollar is a safe and secure currency so this concept is probably foreign to the majority of readers. But imagine if you lived in Venezuela, Zimbabwe or Turkey. Some countries have frozen their citizen’s accounts so they can’t take out their own money. And then they have the audacity to say it’s for their own good!
Let me make something crystal clear. I would never recommend anyone to put their hard-earned money into such a new technology like Bitcoin. Hell, I’m not even that confident myself that Bitcoin will be around in 10. It’s just too damn risky and so many things could go wrong.
However, what happened to FTX is in no way shape or form, a fault of the technology (which has a number of other shortcomings). It was greedy human nature/corruption that caused the collapse. I can’t speak for the creator, but I reckon there’s a good chance that greed and corruption played a big role in the motivation to create money that’s free from centralised human influence. It’s a lot harder to collude when the majority is in control.
This brings me to another interesting discussion point.
I had a fun back-and-forth with The Motley Fool’s Scott Phillips (a former podcast guest) on Twitter the other day.
Here was the Tweet thread.
Shouldn’t that be up to the the individual to assess @TMFScottP?
I’d never allocate that much % to such a speculative technology personally, but when does self responsibility kick in?
Who’s going to make the decisions on what’s too risky and what’s allowed?
If you’ve followed this blog long enough you probably know that I’m a big advocate for civil liberties and freedom for the individual. I don’t believe the government should restrict my investment options when I’m using my own money. I believe in the freedom of choice even if that choice carries risks.
I think it’s reasonable to allow individuals to make their own decision even if it’s potentially self-harming.
It’s a different story when it comes to affecting third parties though and that’s the reason why I’m in favour of regulating exchanges. I personally don’t think exchanges should be allowed to hold customer coins in a custodian manner. This goes against everything Bitcoin stands for in the first place.
Not your keys, not your Bitcoin!
Back to the point. Whenever the topic of rules and regulations in Super is brought up, eventually, all roads lead back to the same argument.
“Their risky investing does affect me because if they lose their Super the taxpayer will have to fit the bill”.
And this is where it ends for me. Because if that’s the way you think, then literally every single risky activity could potentially be affecting the taxpayer.
Do you smoke?
That’s selfish because you could get sick and then medicare has to fit the bill. We should ban that.
Do you race motocross?
That’s selfish because you’re increasing the likelihood of hurting yourself and having a tax-funded ambulance come and get you. Please consider others before you go out dirt jumping. We should ban that.
Do you eat junk food?
That’s selfish because the consumption of junk food increases your likelihood of medical morbidities which might put further strain on the tax-funded system. We should ban that.
Ok. Maybe I’m being a bit pretentious.
And those examples aren’t exact apples-to-apples comparisons but it’s really hard to think of anything that doesn’t have third parties affects.
Like seriously. I could draw a very long bow with just about anything to tie it back to third parties.
We put higher taxes on certain goods and services to discourage people from participating (such as smoking and alcohol). But we don’t outright ban them.
Where do you draw the line?
Ultimately, I’d never encourage or suggest to anyone that they should start buying Bitcoin in their own SMSF, but that doesn’t mean I’d support the government outlawing it.
Education is key. Forcing people never works as well IMO and we should be allowed to try and fail in our endeavours.
I’d love to know your thoughts on the topic. Should certain risky assets/investments/speculations (whatever you want to call them) be banned from Super?
.
*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
We didn’t purchase any shares in November but we did buy $2K worth of Bitcoin.
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.
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 had 1,298 submissions last year so that’s the target to beat 🎯.
The survey only takes about 10 minutes and I’m going to be leaving it open for the whole of November.
I headed up to Sydney in October for some sightseeing and to finally attend an in-person FIRE meetup that I’ve been trying to make happen for years.
Americans have a financial conference expo for money nerds and content creators called FinCon. I have been secretly hoping for years that someone would create a similar style event here in Australia which is pretty much what happened.
The boys at Equity Mates announced their Finfest (financial festival) a few months ago and I knew this would be a great opportunity to kill three birds with one stone.
I was originally planning to take the wife with me to Finfest but my mate Luke heard about it on one of my podcast episodes and said he was really keen to come with us. So he ended up taking my wife’s tickets since she wasn’t really keen in the first place lol.
Luke’s wife joined the crew and the four of us had an absolute blast over 4 days exploring Sydney, hanging out at Finfest, meeting everyone at the FIRE meetup and chatting with the team at Pearler HQ.
Here are some shots:
Hyde Park Sydney
Luke and I at Finfest
Sydney you are stunning!
Obligatory Opera House Shot
Luke trying his best to die near Manly Beach
My highlight was definitely meeting people at the FIRE meetup.
I love receiving emails from readers/listeners that enjoy AFB content but it’s so much better when you get to meet members of the community face-to-face.
Shout out to Derek too who helped organise the meetup 👏, although the music was really booming at the bar that I lost my voice from speaking so loudly 😅.
We ended the weekend by meeting the team from Pearler at the WeWork office. I had been banging on about this co-working space during the whole trip and I was low-key very excited to show everyone what it was all about.
Awesome co-working spaces are something I sorely miss from London and I’ve been trying to pitch the idea to Luke (who’s a builder) that we should try to do a watered-down version of WeWork in our hometown. I have no idea if it would work but I’m very confident more and more people are going to start their own little business in the coming years.
I just love the vibe at those types of places. The energy and atmosphere at co-working spaces that are mainly made up of entrepreneurs/creatives is inspiring. I found that there’s a lot of cross-pollination of ideas when you get a bunch of like-minded people in different industries in the same room.
Working from home this year has meant that socialising at work is basically non-existent for me.
Starting a co-working space would be awesome and Luke and I have already checked out a potential space in town. There’s a lot more research to be done and it’s exciting to think about the potential. I’ll be sure to keep ya’ll updated 🙂
Lastly, I’ve received some emails from my fellow Victorians asking when the Melbourne FIRE catchup is happening.
Well, it was a bit late for me to organise something and it’s surprisingly difficult to book a place without paying a fortune so I’ve decided to piggyback off an event that Rask Australia is hosting.
I was invited by Owen (founder of Rask) to speak at the event along with a whole bunch of other awesome guests.
The line-up
I’ve always been a bit hesitant doing live gigs just because of the whole anonymity thing but I think it’s time to step out into the light.
I’ve remained anonymous throughout the years partly because I didn’t want my boss to know that I’m planning to retire early. I thought it might negatively affect my career progression during my accumulation phase.
But since I’m my own boss now, it’s less of an issue 😂.
There are limited tickets but you can get $10 bucks off the price if you use the code fire on checkout (limited to the first 25 spots)*.
There’s going to be an afterparty too but I don’t know all the details yet. I’ll be making an event about this catch-up on my Facebook page.
I’m really excited to be speaking and I hope I can meet some of you guys at the event 👊.
*I’m not receiving any kickbacks for that code/the event
Net Worth Update
A big month for our shares with Bitcoin being our only asset class that went backwards.
Sydney was relatively expensive but nothing major.
We bout $2K of Bitcoin during the drop in October.
Cash remains high and our shares are back in the 700’s
*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
We’re still down ~$20K overall for the year but it’s always a nice little psychological boost seeing that much money being generated from the portfolio.
We bought $13K worth of VEU in October too.
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.