FIRE

One of my ultimate goals in life is to retire by age 40, through Financial Independence Retire Early (FIRE). This will be achieved primarily through saving and investing, while minimising uneccessary expenses.

To achieve this, my plan is to build my investment portfolio to a level where I can live off the returns/dividends (~$750,000) and no longer be required to work for an income. This gives me about $30,000 to spend every year – doing whatever I want!

While that number seems incredibly high and perhaps out of reach at first, when you dig down into the numbers and consider the ~13 years I have until then, it becomes very reasonable and possible. It requires a strict savings/investment plan and a frugal, yet satisfying, way of living.

I will be documenting my journey to financial indpendence here in the form of regular net-worth and progress reviews.

I have been tracking my net worth properly since March 2019. I wish I started sooner!

For a more detailed update on my journey towards FIRE, check out the blog posts below!


Please note, these blog posts contain my own personal situation and circumstances, and therefore, please be mindful of the disclaimer below:

Disclaimer

The information on this website is for general information purposes only. It is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered legal practitioner or financial or investment adviser. No material contained within this website should be construed or relied upon as providing recommendations in relation to any legal or financial product.

FIRE Progress – April 2021

First FIRE progress update of 2021! Given my monthly updates towards my goals, which includes net worth, investing, and finances, I didn’t think it was necessary to update my progress towards FIRE every month. Instead, I’m going to update my progress every 3-4 months and when I pass a large milestone. The first few months …

Continue reading FIRE Progress – April 2021

FIRE Progress – July 2020

We are now 6 months into 2020! I’ve made some really good progress towards my net worth and investment portfolios. I’ve been able to really increase my portfolio value due to the market durntown for the few months before bouncing back to almost what it was. Net Worth For my net worth, it unfortunately dropped …

Continue reading FIRE Progress – July 2020

FIRE Progress – June 2020

Throughout May, pretty much all of my money accounts (investments, savings, super) increased. At 1 June 2020, I was really happy to see that my total net worth crossed the $50,000 mark! It’s really great to see this and to see how this has increased over time (and even this current year). While there was …

Continue reading FIRE Progress – June 2020

FIRE Progress – May 2020

From April to May, my networth increased by 29.3% to $44,166. It was quite a jump from April, but it probably jumped so much because my net worth actually decreased 14% throughout March to April – spurred on by the decreased amounts in investments due to the COVID-19 pandemic. Getting close to my goal of …

Continue reading FIRE Progress – May 2020

FIRE Progress – March 2020

ASX: $41,132.64Net Worth: $35,627.36 From February, my net worth only went up 1.5%. My ASX portfolio, as well as my other investments has taken a hit due to the market decline as a result of fears of the coronavirus. My ASX portfolio is currently down 7.66% since the start of February 2020, and down $4,705 …

Continue reading FIRE Progress – March 2020

FIRE Progress – February 2020

Net worth = $35,099ASX Portfolio = $42,167 Already a month into 2020! I’ve been able to invest more throughout January due to almost hitting my savings goal of 50% (I saved 47.4%). Investment growth/return has also been quite good for 2020 with my portfolio being up +3.68%. Breakdown of net worth as at 1 February …

Continue reading FIRE Progress – February 2020

4 thoughts on “FIRE

  1. Admiring the dedication you put into your website and in depth information you offer. It’s awesome to come across a blog every once in a while that isn’t the same old rehashed material. Fantastic read! I’ve bookmarked your site and I’m including your RSS feeds to my Google account.

    Like

  2. Phill Balding

    Nice, very similar to me a year ago. 27, On $55k in shares (actively managed stock picks) now and just got a pay rise to 100k. Would be $65k if I didn’t do so many dam holidays this year. I am on a mission now to hit $300k then I want to ease off, maybe get a more interesting job

    Like

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