This is a blog about my journey towards financial independence/retiring early in Australia, with the aim of continuing to earn a high passive income after attaining FIRE. Many blogs in this sphere are focussed on financial independence through extreme savings and a fairly lean income at retirement, and are often directed towards those with a low to average income during working life. Those blogs are still great and that style of FIRE is completely valid! However my aim as a higher income earner is to try to attain financial independence while enjoying the journey there, as well as setting myself up for a very comfortable life after retiring from work – sometimes referred to as FatFIRE, though I prefer the healthier sounding term coined by Aussie HIFIRE. This blog therefore will be about my journey towards this goal – and the optimisation to my lifestyle that will still be necessary to achieve it!
Disclaimer: I am not a financial advisor or an accountant, so anything written in this blog is either of a general nature or is specific to my situation/perspective. Make sure to do your own research, and where appropriate seek the advice of a professional.
Latest from the Blog
Always double check your payslips! On reviewing my payslip for the last fortnight I discovered almost $3000 of income that I missed out on, due to some receipts coming through on the weekend and not being counted. I’ve always been pedantic about checking my payslips but this was the first time that it paid offContinue reading “Payslips!”
This past month has been a bit of a quiet one. Steady growth in my portfolio, but no major changes in my overall net worth – though, this is largely because I paid a good chunk of taxes this month! Net worth total at the end of May 2021: $593,219Increased since last month: $5,503 orContinue reading “Update: May 2021”
Since we’re a good way through the year now, I thought I’d look back on my new year goals and see how I’m tracking. How likely am I to achieve them? Non-financial Goals Walk for minimum 2kms at least 3x a week (stretch goal, aim for 5kms)– Unfortunately I have fallen off the wagon withContinue reading “Reflection: 2021 Goals”
As we approach the end of another financial year, I find myself reflecting on the value of working harder/longer to earn more income at the higher tax brackets. I’m fortunate (or unfortunate?) enough that I expect to just barely hit the 45% tax bracket this year – including my investment property rental income. At whatContinue reading “Income and Tax”
This past month has showed continued steady growth in all areas of my portfolio. As I mentioned in an earlier post, I have revised my FI targets! Net worth total at the end of April 2021: $587,716Increased since last month: $17,937 or percentage-wise 3.2%Total assets minus estimated tax owing: $540,425 Progress towards new target ofContinue reading “Update: April 2021”
Who else hates advertisements? They’re especially infuriating in their inescapability! No matter where you turn they always pop up to provide people with temptation to overspend. On your commute, on your phone, laptop, television, newspaper, sometimes even in books! I consider myself relatively impervious to advertisements and to the desire to keep up with theContinue reading “Advertisements Everywhere!”