Why Increasing Your Income Is Better Than Increasing Your Savings Rate

For those in the financial independence retire early mindset, we all know that your savings rate is extremely important in growing long-term wealth. But, there is a better, faster way to reach early retirement. Your savings rate and how much you can save is one of the most important things to do on your journey …

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How to Become a Millionaire and Retire Early (3 Steps)

Having enough money so you no longer need to work may seem out of our reach at first. However, given time and compounding interest, it’s a whole lot easier to achieve than you think. I’ve been a follower of the Financial Independence Retire Early (FIRE) movement for a number of years now, with a goal …

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2021 Goal Progress – February

Is it just me, or is 2021 already flying by? Either way, another month, another progress review. This is my first progress review for 2021. Throughout January, I recognised that I was going very well towards most of my goals, but also knew that I probably wouldn't hit some of them. If you want to …

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2020 Year in Review

Every year, I write out a summary of my year. Key events, experiences, lessons, and anything else that comes to mind. It's my opportunity to review my behaviour, progress, situation, and any aspect of my life I find interesting. While I write posts about my personal goals and progress, this is more of an account …

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FIRE Progress – October 2020

Over the month of September, there wasn't any major changes across my accounts. Everything is pretty much where it was last month, with a few things going up. If you want to see my previous posts on Financial Independence Retire Early, check it out here: https://nathanchallengeslife.com/fire/ Net Worth Throughout September, and at the start of …

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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 …

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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 …

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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 …

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