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. 🔥
Super quick update for June.
It has mostly been Groundhog Day for us during this cold Victorian month.
Family, business, gym, Jiu-Jitsu and House of the Dragon every week.
In June, I hired my first full-time employee for my data company, which is exciting. The junior data engineer helps relieve some pressure on me to fix every issue and aligns with my vision of building a small team to solve problems and have fun with.
Lifestyle businesses can be a lot of fun, but they can also end up consuming all your spare time, which I’ve worked hard to free up through passive income. I found a great book to tackle this called Buy Back Your Time by Dan Martell.
I love running the data company and being part of the new co-working space in town. However, I don’t want these activities to take over my life. Hiring people to handle jobs I don’t love doing is a good solution to combat this.
Net Worth Update
Not much to report on here. Decent month overall, but the cash reserves took a hit.
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*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
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Shares
The above graph was created by Sharesight
It’s always nice to see the dividends hit the account. BTC takes a dip in June.
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 impact other than some extra accounting work once a year.Â
How about dem dragons tho.
Thank you for everything provided on your website, it’s very helpful.
I’m new to this and trying to create my own portfolio. I can see you are at your Strategy 2.5 stage, are you still planning to move to Stategy 3? how do you find the tax efficentcy on VTS &VEU, do you need to do some extra work to reduce the tax drag on them? many thanks!