Aussie Firebug: Recent Episodes
Aussie Firebug
My name's Matt, I'm a country boy for regional Victoria who is on track to reach Financial Independence and Retire Early (FIRE) by my mid-thirties. I interview guests who have already reached or are on their way to financial freedom and also answer listeners questions on the last Friday of every month.You can learn more about the FIRE movement in Australia here https://www.aussiefirebug.com/start-here/
After 10 years of Aussie Firebug, I’m stepping back, with October 2025 marking both my final net worth update and the point we reached financial independence.
My priorities have shifted away from FIRE content towards family, business, and a more intentional approach to spending.
I’m taking an extended break, with the podcast likely continuing in a broader form.
Firebug OUT ✌️
Links* Engaging Data Calculator
www.aussiefirebug.com/podcast
Today’s episode is a special one - it’s the 100th episode of the show. I just want to take a moment to say a heartfelt thank you to all of you who’ve supported the podcast over the past 10 years. Whether you’ve been here from the start or only recently discovered the show, your messages, reviews, and support have meant the world to me.
Today on the podcast, we have a man who many consider to be the pioneer of the early retirement community. Pete Adney, aka Mr Money Mustache.
I don’t think Pete needs an introduction, but in case you somehow don’t know who he is… Pete retired at the age of 30 after a career as a software engineer by living frugally and investing wisely.
Through his blog, Mr. Money Mustache, he’s inspired millions with his philosophy on financial independence, meaningful living, and sustainability.
It was Pete’s blog that first opened my eyes to early retirement - and showed me that financial independence didn’t have to be something you waited until 60 to achieve... Discovering it all those years ago was a pivotal moment - one that completely reshaped how I viewed money, work, and time. That single moment set me on a path that’s profoundly enriched my life, and my family’s life, ever since.
In today’s episode, we chat about:
- Pete’s upbringing in Canada and his journey to FIRE at 30 (00:04:00)
- The evolution of the FIRE movement and its shifting philosophies (00:24:23)
- His thoughts on loosening spending habits and enjoying wealth (00:38:27)
- Insights on fitness, fatherhood, and the lessons he’s learned along the way (00:55:06)
- How he balances financial freedom with personal growth (01:00:39)
Links* Website - Mr. Money Mustache
www.aussiefirebug.com/podcast
This week, I’m joined by Ben Felix, Chief Investment Officer at PWL Capital and co-host of the Rational Reminder podcast. Ben is best known in the FIRE community for his YouTube channel, which has nearly 500K subscribers and features insights on investing, financial decision-making, and living a good life. Ben is one of the clearest voices in evidence-based investing. His work breaks down complex financial ideas into straightforward, data-driven insights that help investors cut through the noise. It’s a masterclass in rational investing, delivered by one of the best in the game.
In this conversation, we cover:
- The truth about "beating" or timing the market (00:13:06)
- Why market efficiency matters more than most investors think (00:24:41)
- How to think about asset allocation and your own risk tolerance (00:49:26)
- Why chasing dividends might not be the smartest path to FIRE (00:56:55)
- What a realistic safe withdrawal rate looks like today (01:07:52)
Links* Website - PWL Capital * Website - Rational Reminder * YouTube - Ben Felix * Podcast - Rational Reminder
www.aussiefirebug.com/podcast
Today on the podcast, we’re joined by Alan Donegan - co-founder of Rebel Business School and host of the Rebel Entrepreneur Podcast. Alan and his wife Katie reached financial independence in 2019, and since then they’ve been travelling the world, teaching people how to start businesses debt-free and take control of their finances.
In this episode we cover:
- What role did your upbringing play in shaping your view on money and risk? (00:04:57)
- Tell us about the Rebel Business School - when was it created and what’s its mission? (00:47:20)
- You’ve taught business and finance around the world - have you noticed cultural differences in how people think about money and entrepreneurship? (01:10:16)
- If you could only teach one skill outside of finance and business, what would it be and why? (01:13:31)
Links* Website - Rebel Donegans * Website - The Rebel School
www.aussiefirebug.com/podcast
Today on the podcast, we’re joined by Andrew Page - founder and Managing Director of Strawman.com. With over 20 years’ experience as an analyst, commentator, and private investor, Andrew is a well-known voice in the Australian investing community. Before launching Strawman, he worked at The Motley Fool and Team Invest, and now focuses on helping everyday investors cut through the noise and build better portfolios.
In this episode, we cover:
- How Andrew first got started in investing (00:03:09)
- Why he believes stock picking still has a place, even in the age of index funds (00:27:21)
- What separates a good business from a bad one, and how he evaluates founders (00:45:18)
- His thoughts on Bitcoin and where it fits in a value investor’s world (01:28:49)
- The best resources for anyone looking to branch out from passive investing (02:14:02)
Links* Website - Strawman
www.aussiefirebug.com/podcast
Today on the podcast, we’re joined by Evan Lucas - behavioural economist, financial commentator, author of Mind Over Money, and former Head of Strategy at InvestSMART.
Some of the topics we dive into are:
- How the increase in dual income households is reshaping family dynamics. (00:16:03)
- How we can rewire our brains to spend less and live more freely. (00:34:06)
- The link between identity, emotion and financial behaviour. (00:47:19)
- The role behavioural finance plays in reaching FIRE. (00:41:09)
Links* Website - Evan Lucas
www.aussiefirebug.com/podcast
Today on the podcast, we’re joined by Pete Wargent—investor, author, market analyst, and one of Australia’s earliest FIRE pioneers. Originally from the UK, Pete reached financial independence by age 33 after building a portfolio of shares and property across both Australia and the UK.
Since then, he’s written multiple best-selling books, launched a property buying business, and become a trusted voice on investing, markets, and wealth creation.
In today’s episode, we dive into:
- Pete’s journey to FI and what helped him get there (00:05:26)
- The role of personality, passion projects, kids, and travel (00:09:58)
- Some of the biggest challenges people face on the path to financial freedom (00:22:41)
- Why there’s no one-size-fits-all approach to financial independence (00:28:03)
- What’s changed in the FIRE space over the past 20 years (00:48:53)
Links* Website - Pete Wargent
www.aussiefirebug.com/podcast
Today on the podcast, we have Andy Darroch, an Independent Financial Adviser and Director of Independent Wealth Advice.
Andy is one of the very few truly independent advisers in Australia—less than 1% fall into that category. After time at Macquarie, Wilson HTM, and Deloitte, he started his own firm to offer advice free from commissions, kickbacks, and product pushing. He charges a flat fee, publishes his prices online, and believes advice should work like any other profession—you pay for it when you need it.
In this episode, we discuss:
- Why independent advisers are so rare (00:04:30)
- Myths around financial advice (00:05:05)
- What good advice looks like when it’s actually designed to help you (00:27:51)
- Whether the current model is working, and how to fix it (00:45:55)
- The biggest mistakes the FIRE community makes (01:21:30)
Links* Website - Independent Wealth Advice * Website - The Honest Advisor
www.aussiefirebug.com/podcast
Today on the podcast, we have Mark LaMonica, CFA, a Director at Morningstar and co-host of the Investing Compass podcast.
Mark brings a wealth of knowledge and experience, having spent time in both the US and Australia, which gives him a unique perspective on their financial systems and retirement landscapes.
In today’s episode, we dive into:
- The current state of financial planning in Australia (00:09:18)
- Mark’s thoughts on his recent article, "Are We Being Ripped Off by Super?" (00:16:04)
- How the US and Australian retirement systems stack up against each other (00:20:58)
- Why he’s against super funds charging for certain financial advice costs (00:30:57)
- His controversial take on the 4% rule and the FIRE movement (00:47:13)
Links* Podcast - Investing Compass * Website - Morningstar
www.aussiefirebug.com/podcast
It’s been a decade since I started down the FIRE path, and life looks very different these days - especially since becoming a dad. In this episode, I reflect on how early retirement gave me something more valuable than money: time.
But it also left me unexpectedly restless. I talk about mini-retirement, purpose, starting two businesses, and how becoming a parent reshaped my perspective on work, freedom, and what really matters.
Whether you're deep into your FIRE journey or just getting started, this one’s for you.
Some of the topics we cover in today’s episode are:
- The Unexpected Dissatisfaction (00:03:33)
- The Value of Discomfort and Growth (00:05:03)
- Rediscovering Purpose Through Entrepreneurship (00:08:34)
- How FIRE Helped with Parenthood (00:10:35)
- Financial Security as a Buffer (00:11:13)
- Not Loving Early Retirement (00:12:06)
Links* Blog post
Welcome back to the Aussie Firebug Podcast, the financial independence podcast for Australians, where I interview interesting people on topics relating to financial independence.
Today on the podcast we have Amy and her partner Matt from FI Freedom Retreats, a five-day financial independence retreat in Bali.
This was a passion project born out of Amy’s love and gratitude for the F.I.R.E movement and community.
Heads up, I recorded this podcast in January this year and haven’t released it until now because I’ve been distracted with other things. This means there’s a good chance there won’t be any spots left in the retreat for this year, but I think you’ll still find our conversation interesting.
Some of the topics we cover in today’s episode are:
- Amy’s fear-based relationship with money (00:02:29)
- Geo-arbitraging in Mexico, Thailand, and Bali (00:09:37)
- Matt & Amy’s experience with healthcare while living in SE Asia (00:14:42)
- 90% savings rate in SE Asia (00:22:45)
- Why Amy started FI Freedom Retreats (00:35:41)
- Matt & Amy’s top tips for pursuing FI and living your best life (00:46:36)
Links* Website – FI Freedom Retreats
www.aussiefirebug.com/podcast
Today we're joined by Ana Kresina, Head of Product and Community at Pearler and the Co-host of the 'Get Rich Slow Club' and 'ETFs for Beginners,' podcasts.
She’s also just become a published author with the book “Kids Ain't Cheap”.
Some of the topics we cover in today’s episode are:
- Ana’s FIRE journey (00:03:37)
- Hitchhiking through Europe (00:07:09)
- Why Ana wrote a money book around raising kids or preparing to raise kids (00:10:02)
- The importance of normalising money conversations with children (00:23:12)
- Philanthropy and teaching your kids why giving matters (00:35:41)
Links* Website - Ana Kresina * Book - Kids Ain't Cheap * Podcast - Get Rich Slow Club
www.aussiefirebug.com/podcast
Today's episode is something a bit different.
Terry, the host of the Wealth Time Freedom (WTF) podcast interviewed me a few months ago. The response was so positive from that episode that I decided to repost it on my show.
In this episode, Terry asks me about becoming a dad, my recent pivot with work and my new perspective on FIRE.
I found it to be a great conversation, and I hope you'll enjoy it too.
Links* Podcast - Wealth Time Freedom (WTF)
www.aussiefirebug.com/podcast
Today, my guest is fellow FIRE enthusiast/podcaster/blogger, Captain FI!
He’s actually been on the podcast before but I had to take that episode down due to ASIC’s 2022 guidelines.
Cap came and stayed at the Firebug household after attending the Rask event in my hometown. It was a lot of fun meeting and greeting others from the FIRE community and it was extra special to do so in my own backyard.
This was very much an improv podcast and I didn’t have any set questions.
We had a general chitchat about Captian Fi’s financial journey and other topics relating to FIRE.
Some of the topics we cover in today’s episode are:
- Who is Captain FI? (00:02:36)
- Investing a big lump sum into the share market (00:04:47)
- Finding a financial planner (00:16:01)
- Investing psychology (00:26:24)
- Reaching financial independence (00:41:26)
- Does your FI number include a paid-off house? (00:43:43)
- Selling shares to pay your living expenses (00:45:46)
- The psychology of spending (00:52:26)
Links* Website - Captain FI
www.aussiefirebug.com/podcast
Today, my guest is none other than my accountant, Clayton!
Clayton and I have talked about doing this podcast for a while. I pay him thousands of dollars each year to help with tax planning, structuring our investments and businesses and other strategic decisions that ultimately help me reach FIRE sooner.
I thought it would be interesting to chat to him about what role an accountant can play when someone is trying to reach FIRE, and explore why certain decisions were recommended for our family in terms of tax advice and planning.
Some of the topics we cover in today’s episode are:
- The difference between an accountant, a tax advisor and a financial planner (00:05:36)
- The role an account can play in someone’s journey to financial independence? (00:09:08)
- Common financial structures for people wanting to improve their situation (00:11:56)
- Some of the advantages of a financial trust structure (00:14:13)
- The difference between tax minimisation and tax evasion (00:16:52)
- How can people get the most out of their accountant? (00:22:30)
- Easy things you can do to help you at tax time (00:26:58)
- How do you find a good accountant who'll work with you to build wealth? (00:34:33)
- What are the main things to consider when starting a sole trader/freelancer business? (00:36:54)
- How often does the ATO actually audit people? (00:49:10)
Links* Website - McMillans
www.aussiefirebug.com/podcast
I've been thinking about this post for the past 18 months, and to be honest, it's long overdue.
So much has changed over the last 11 years since I first stumbled across FIRE.
And if the podcast's feature image wasn't obvious enough, I recently became a father.
So, now is the perfect time for a big update/recap on life at the Firebug household.
www.aussiefirebug.com/podcast
Today my guest is Carl Jensen who is better known in the FIRE community as Mr. 1500.
He’s a family guy living in Colorado with his wife and two young children and managed to retire at the ripe old age of 43.
Some of the topics we cover in today’s episode are:
- The story behind the name "Mr. 1500" (00:02:06)
- Investment philosophy and strategies (00:07:25)
- Carl’s interest in Tesla and EVs in general (00:18:44)
- Balancing frugality and fulfilment on the path to FI (00:23:49)
- The biggest benefits of achieving FI (00:26:31)
- How Carl handled the cultural challenges of pursuing early retirement (00:39:04)
- What Carl wishes he knew when he started his journey to FI (01:09:58)
Links* Website - 1500 Days to Freedom
www.aussiefirebug.com/podcast
Today’s episode is very special to me personally.
I’m speaking with my dad about how he grew up and what money and life lessons he learnt along the way. He’s probably had the biggest impact on how I view the world (along with my mum) and set the foundations early on for me to be in the position I’m in today.
Some of the topics we cover in today’s episode are:
- What life was like growing up in Melbourne with immigrant parents
- Leaving school at 15 to help contribute to the family farm
- Life lessons learnt from his parents
- The value of hard work
- Learning about property in the ’80s
www.aussiefirebug.com/podcast
I’m excited today to be having a conversation with Bryce Holdaway and Ben Kingsley who co-host the very popular podcast called The Property Couch.
Some of the topics we cover in today’s episode are:
- How Ben and Bryce got started in Property
- Their investing strategy/philosophy
- The Australian Housing and renting crisis
- Are property investors adding to affordability issues or are they being used as political scapegoats?
- Dan Andrews's new land tax laws
Links* Website - The Property Couch * Episode 446 | Property Spruikers Exposed
www.aussiefirebug.com/podcast
My guest today is Dr Toni Lindsay. Toni is a clinical psychologist who works primarily with people who are at the end of their life or have a severe illness (usually young people!).
In her own words: “My work has shaped how I think about all this FIRE stuff!”.
Toni is also the author of multiple books but the one which probably has the most application with FIRE would be “The Certainty Myth: How to be resilient when the world keeps changing”.
Some of the topics we cover in today’s episode are:
- What does Toni actually do in the field of clinical psychology? (00:04:02)
- What motivated Toni to write “The Certainty Myth”? (00:15:54)
- How Acceptance and Commitment Therapy (ACT) can help with the journey to FI (20:19:00)
- The relationship between uncertainty and anxiety and how we can better manage this (00:55:54)
- Cognitive flexibility - how flexibility can be an antidote to uncertainty (01:01:43)
- How FIRE plays a role in resiliency (01:10:54)
- How Toni’s experience with mortality has shaped her FIRE journey (01:21:50)
Links* Website - www.tonilindsay.com.au * Book - The Certainty Myth
www.aussiefirebug.com/podcast
Following on from the previous episode, this is part 2 of the debate.
There’s been a few potential Super changes put forth by the Albanese government lately and I wanted to get two different viewpoints on the podcast to debate the pros and cons of the changes. I also wanted to talk about Super as a high-level concept. What exactly is Super? What’s the purpose of Super? Is Super fulfilling its job? etc. We have two returning guests joining in today’s discussion. CIO of The Motley Fool Australia, Scott Phillips and Economist Dr Cameron Murray. I’m playing moderator between these two as they give their different opinions on some of the following topics:
- Are you for or against opening up Super to allow members to buy a home? (00:01:33)
- Is confidence being eroded when the government keeps tinkering with the system? (00:08:20)
- Is it just the rich getting richer? (00:15:08)
- Is it a good idea for the government to invest in capital projects? (00:18:43)
- The proposed Super cap (00:31:35)
Links* Cameron Murray - Substack * Cameron Murray - Twitter * Cameron Murray - Facebook * Scott Phillips - Twitter * Scott Phillips - Facebook
www.aussiefirebug.com/podcast
I’m so excited for this one today. There’s been a few potential Super changes put forth by the Albanese government lately and I wanted to get two different viewpoints on the podcast to debate the pros and cons of the changes. I also wanted to talk about Super as a high-level concept. What exactly is Super? What’s the purpose of Super? Is Super fulfilling its job? etc. We have two returning guests joining in today’s discussion. CIO of The Motley Fool Australia, Scott Phillips and Economist Dr Cameron Murray. I’m playing moderator between these two as they give their different opinions on some of the following topics:
- What is the purpose of Super? (00:03:26)
- Is there an alternative to the current Super system? (00:11:38)
- Thoughts on how we could fix the Super system (00:19:27)
- Do we actually need to have both Super and the Age Pension? (00:39:48)
Links* Cameron Murray - Substack * Cameron Murray - Twitter * Cameron Murray - Facebook * Scott Phillips - Twitter * Scott Phillips - Facebook
www.aussiefirebug.com/podcast
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 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)
Links* Website - Invest with Queenie * YouTube - Invest with Queenie * Instagram - Invest with Queenie * TikTok - Invest with Queenie
www.aussiefirebug.com/podcast
My guest today is Brandon Ganch who is better known in the FIRE community as the Mad Fientist. Brandon is an ex-computer programmer turned blogger and podcaster who reached financial independence at the ripe old age of 34 with his wife Jill. It’s always a pleasure to speak with Brandon as one of my financial/investing heroes and someone who’s been on the scene since the early days when I first discovered the concept of FIRE.
Some of the topics we cover in today’s episode are:
- The life changing event of becoming a parent and how FI has helped (00:07:10)
- Did Brandon really crack the Billboard Top 40 list with his debut album? (00:16:15)
- How to raise a money conscious kid (00:20:13)
- What’s life been like since Brandon quit his day job as a programmer? (00:30:03)
- Difficulties switching from portfolio accumulation to consumption (00:36:50)
- How the utility of money changes as you get older (00:40:22)
Links* Website - Mad Fientist * Spotify - 1=2
Today my guest is Liz Thames who is better known as Mrs Frugalwoods. Liz is a mother of two who lives with her husband Nate on a 66-acre homestead in rural central Vermont USA. She’s the author of the popular FIRE book called “Meet the Frugalwoods: Achieving Financial Independence Through Simple Living”.
Some of the topics we cover in today’s episode are:
- Liz’s motivation behind writing a memoir-styled book (00:02:44)
- How to transition from saving to living off your investments (00:07:39)
- What does FIRE mean to Liz? (00:11:36)
- How Liz and Nate achieved financial independence (00:15:37)
- What does the Frugalwoods investment portfolio look like? (00:31:03)
- Financial privilege. Can everyone achieve FIRE or is it only possible for a lucky few? (00:41:35)
- How FIRE helps when raising two young girls (00:47:19)
- Tips for buying a home (00:55:47)
Links* Website - Frugalwoods * Book - Meet the Frugalwoods: Achieving Financial Independence Through Simple Living * Financial consultation services with Liz Thames
www.aussiefirebug.com/podcast/
Today I’m talking with the Chair of the Australian Electric Vehicle Council, Tim Washington. Tim has also co-founded two companies - JET Charge, who specialise in supplying and installing EV Chargers and Charge Fox, Australia’s largest EV charging network.
EVs have been a hot topic in the FIRE Facebook group lately and I’ve had a few episodes on EVs in general but none that dig into the charging side of the equation which is a big part.
Some of the topics we cover in today’s episode are:
- How does a home EV fast-charger work with your home solar system? (00:21:29)
- How will the new FBT legislation affect the cost of EVs in Australia? (00:23:44)
- How much does a EV fast-charger cost to buy and install? (00:26:09)
- Is vehicle-to-grid (V2G) technology currently an option for Australians? (00:32:27)
- Turning your car into a money-making asset instead of sitting idle 90% of the time (00:34:24)
- Can Australia’s electricity grid handle the upcoming transition to EVs? (00:46:59)
- Hydrogen cars (01:01:11)
Links* Website - Jet Charge * Website - Electric Vehicle Council
www.aussiefirebug.com/podcast/
Today I’m welcoming back property investor Scott O’Neill to the podcast. Scott and his wife are self-made multi-millionaires that created $300K in passive income by 28. Since Scott was last on the show, I received a fair amount of emails asking me to get him back to give a more practical guide on investing in commercial real estate.
Some of the topics we cover in today’s episode are:
- What is commercial real estate? (00:06:32)
- Pros and Cons for both residential and commercial property (00:13:52)
- Why commercial leases are so so important and very different compared to residential (00:21:58)
- What about finding a tenant to lease your property? (00:29:02)
- Are there strategies specific to commercial property investing? (00:41:50)
- What to look for when doing due diligence (00:52:46)
Links* Website - Rethink Investing * Book - Rethink Property Investing * Podcast - Scott O'Neill - Self-made $300K in passive income by 28. Marketing BS or the real deal? * Podcast - Inside Commercial Property
www.aussiefirebug.com/podcast/
Today my guest is city planner and urban designer Jeff Speck. Originally trained as an architect, Jeff is most famous within the FIRE community for his award-winning 2012 book: ‘Walkable City: How Downtown Saves America, One Step at a Time’.
It’s amazing how such a small detail like walkability can touch on so many tenants within the FIRE ethos. The economy, health benefits and sustainability are all areas that are impacted greatly by our poorly designed cities which are where the majority of humans on earth live.
Some of the topics we cover in today’s episode are:
- How Jeff became an expert in city planning. (00:03:25)
- What is urban design and city planning? (00:09:02)
- City development before the great depression and world war 2 (00:13:43)
- How do we solve this problem of a car-centric environment? (00:36:25)
- Health benefits of a walkable city (00:41:14)
- How we can change our roads to benefit pedestrians and reduce traffic (00:52:09)
- Different ways to make a city more walkable (00:57:48)
Links* Website - www.jeffspeck.com * TED - Jeff Speck: The Walkable City * Book - WALKABLE CITY: How Downtown Can Save America, One Step at a Time
www.aussiefirebug.com/podcast/
Today I’m talking with financial educator and podcast host Kate Campbell. Kate grew up in country Victoria and joined the defence force as a teenager before changing careers to finance and investing later on. She’s probably best known in the FIRE community as a co-host for many of the very popular podcasts that Rask Australia produces.
Some of the topics we cover in today’s episode are:
- How Kate got started in finance and investing (00:03:30)
- The importance of taking risks and just giving it a go (00:08:52)
- What does Kate’s portfolio look like? (00:23:12)
- Kate’s blog and podcast (00:32:04)
- How Kate came to work with Owen at Rask Australia (00:38:03)
- Common roadblocks people face with their finances (00:43:22)
- Financial hurdles women have to face (00:44:56)
- Money and psychology (00:54:04)
Links* Website - How To Money * Website - Rask Australia * Rask Investing & Finance Courses
www.aussiefirebug.com/podcast/
Today we welcome back Dave Gow who retired at the ripe old age of 28. He’s better known online as Strong Money Australia where he blogs about early retirement and how to live a happier life. It’s a really light-hearted chat today where we mainly talk about Dave’s new book which will be available on the 1st of December 2022 which is very exciting.
But we also cover a range of other topics such as:
- Updates on early retirement (05:32)
- Strong Money Australia book (06:53)
- Publishing rights (12:58)
- Audiobook difficulties (18:23)
- Updates on the FIRE and Chill podcast comeback (34:15)
- Elon Musk buying Twitter (43:20)
Links* Website - Strong Money Australia
www.aussiefirebug.com/podcast/
Today is a very special episode because if you had told me 10 years ago that I would be chatting to Steve McKnight on my own podcast, I would have never believed you. Steve is a professional investor, media commentator and online entrepreneur. But he’s probably most famous in the FIRE community for his book “From 0 to 130 Properties in 3.5 Years”. This was actually the second book about financial independence that I ever read and completely changed my life. Steve is one of three people who I’d consider as the most influential figures for me to come across throughout my investing journey so as you could imagine, this was a special episode for me personally.
Some of the topics we cover in today’s episode are:
- Burnout and seeking an alternative path (00:06:15)
- Investing in property (00:17:37)
- Vendor financing (00:20:51)
- Australia’s housing market is a Ponzi scheme (00:27:44)
- Online entrepreneurship (00:46:30)
- Finding meaning beyond financial independence (01:11:37)
Links* Book - From 0 to 130 Properties in 3.5 Years * Website - Property Investing * Website - Money Magnet * Website - Tree Change
www.aussiefirebug.com/podcast/
Today I’m talking with Brad Smith. Brad is an entrepreneur and former young Australian of the year for Tasmania who founded a motorcycle company Braaap in 2005 at the ripe old age of 18. Entrepreneurship is sometimes popularised as a quicker way to reach FIRE with the added benefit of doing something that you love. But it doesn’t always work out this way.
Some of the topics we cover in today’s episode are:
- Brad’s background and family upbringing (00:05:53)
- What made Brad start a company so young? (00:15:11)
- Finding a manufacturing factory in China (00:25:28)
- The importance of separating personal finances from the companies (00:30:55)
- Dealing with adversity (00:34:20)
- Marketing vs engineering (00:39:09)
- Electric motorcycles (00:43:36)
Links* Website - Braaap Motorcycles * The Woke Salaryman - Stop blaming the poor for being poor * Book - The Ultimate Sales Machine: Chet Holmes * Linkedin - Brad Smith Braaap
www.aussiefirebug.com/podcast
Today I'm joined by my high schoolmate Luke.
Luke and I attended FinFest and the Sydney FIRE meet-up over the weekend. I thought it would be fun to recap the event/meetup because we both had a blast.
Some of the topics we cover in today's episode are:
- The FinFest event (02:51)
- The presentations on the day (08:05)
- Food truck lines (09:18)
- Bumping into others from the FIRE community (15:51)
- The FIRE meet-up (30:08)
- Noisy venues (31:06)
- Other content creators coming to the meet-up (33:20)
www.aussiefirebug.com/podcast
Today I’m talking with Dr Cameron Murray. Cameron is a father of two currently living in Brisbane and holds a PhD in Economics from the University of Sydney. You may have seen Cameron in a collection of print media outlets and in TV programs such as Q&A on ABC. This is a big episode today because Cameron has such a breadth of knowledge across so many areas that affect our ability to retiree early. He has one of the most interesting and original takes on our Super system too which I think a lot of early retirees, such as myself, will be interested in hearing.
Some of the topics we cover in today’s episode are:
- Why Australia should scrap Superannuation since the aged pension is a superior system that costs less and delivers more (00:11:20)
- Housing policies and what changes need to be made to help affordability (00:52:46)
- Money creation and its role in inflation (00:58:27)
- Political corruption and what it costs Australians (01:25:52)
- How to become a better economist (01:31:55)
Links* Website - Fresh Economic Thinking * Report - Scrap Superannuation * Book - Game Of Mates: How favours bleed the nation * Twitter - @DrCameronMurray * Substack - Fresh Economic Thinking
www.aussiefirebug.com/podcast
Today my guest is a legend in the Australian personal finance space. Noel Whittaker has been educating Aussies in money management and investing for over 50 years. He’s probably most famous for his international bestselling book "Making Money Made Simple" which has sold over a million copies worldwide!
Some of the topics we cover in today’s episode are:
- Noel’s upbringing and first investments (00:02:19)
- What made Noel become an author? (00:13:41)
- Noel’s investment choices and experience (00:18:08)
- Noel’s thoughts on Australian Superannuation (00:26:50)
- Annuities in Australia (00:42:46)
- The big issue with Lenders Mortgage Insurance (00:48:37)
- What’s happened to the financial planning industry and how would Noel fix it? (00:50:38)
Links* Website - www.noelwhittaker.com.au * Book - Making Money Made Simple * Book - Retirement Made Simple
www.aussiefirebug.com/podcast
I have an interesting episode for you guys today and I think you’re really going to like it. My guest today is Scott O’Neill. Scott bought his first investment property in 2010 with a $60K deposit after saving for 5 years. Just 8 years later, Scott and his wife had 28 properties generating $300K of profit each year plus around $7Million of equity. And Scott is very adamant that he didn’t receive any financial help, gifts, inheritance, living at home rent-free until his late 20’s etc. He’s self-made and agreed for me to dive deeply into exactly how he managed to do it.
Some of the topics we talk about today are:
- Scott’s background. What type of socioeconomic situation did he come from? (00:06:24)
- How did Scott come to be an investor? (00:11:41)
- The schools Scott attended and what type of career he had once he graduated from uni? (00:14:13)
- A timeline of Scott and his wife’s salary and savings rate during those 8 years from 2010 to 2018 (00:17:15)
- How did the banks let him and his wife load up on that much debt? Especially during the APRA crackdown in the early/mid-2010s. (00:42:04)
- How much of their success does Scott attribute to timing and luck vs skill and hard work? (01:00:26)
- How much he personally draws from his buyer agency business even after reaching financial independence? (01:13:39)
Links* Website - Rethink Investing
www.aussiefirebug.com/podcast
Today I’m chatting with chemical engineer/home energy advisor Tim Forcey. He’s probably known best in the FIRE community for creating the extremely popular Facebook group, My Efficient Electric Home (MEEH) which currently has over 65,000 members.
I’ve always said one of the most common traits in FIRE community is hyper efficiency of everything we spend money on, so I was very excited personally to have Tim on the show, especially with energy prices creeping higher and higher.
Some of the topics we cover include:
- What made Tim become a home energy advisor? (00:02:25)
- What are the low hanging fruits to make our homes more energy efficient? (00:08:42)
- Is it true that electric air-conditioners are cheaper to run than gas systems for heating your home? (00:11:07)
- What is the “thermal envelope” and why is it important? (00:25:06)
- Building regulations in Australia and what Tim would mandate if he were in charge (00:37:46)
- What are heat pumps, how do they work and why has gas heating been so popular? (00:44:21)
- Tim’s thoughts on solar energy and home batteries (00:52:12)
- The story behind “My Efficient Electric Home (MEEH)” Facebook group (01:00:50)
Links* Website - timforcey.com.au * Facebook group - My Efficient Electric Home (MEEH) * YouTube Channel - Renew * YouTube - Heat Pumps - Part 1 - Hot Water * YouTube - Heat Pumps - Part 2 - Space Heating
www.aussiefirebug.com/podcast
Today we’re talking about two popular career paths - starting out at one of the big four or going into a government role. The Big Four is the nickname used to refer collectively to the four largest professional services networks in the world. These include Deloitte, Ernst & Young (EY), KPMG, and PricewaterhouseCoopers (PwC).
Joining me in this discussion is my old school mate Jeremy Waanders who did a cadetship at Deloitte where he worked for 6 years. Jeremy explains the interview process, culture, work life balance and salary during his time at one of the big four.
I’m going to be representing starting out in government as I spent the first 8 years of my working life in the public sector.
Some of the topics we cover in today’s episode are:
- What is the process of landing a job and what were the interviews like? (00:05:18)
- How does a cadetship actually work? (00:14:51)
- First year experiences (00:18:44)
- Salary progression (00:21:36)
- Big Four workloads and expectations (00:24:25)
- Government experience, expectations & work culture (00:35:12)
- The pros and cons of both career paths (00:48:28)
- Dealing with burnout (00:56:49)
- Finding meaningful work that brings purpose (01:00:25)
Links* Website - Small Giants * Book - The Second Mountain: The Quest for a Moral Life - David Brooks
www.aussiefirebug.com/podcast
Today we’re talking about succession planning with the one and only Terry Waugh.
This is a pretty big topic but we’ll be focusing in on areas such as:
- What is succession planning and why should we care? (02:22)
- What are some of the available options for succession planning? (04:19)
- Wills (07:06)
- Testamentary trusts (13:31)
- Succession planning within companies (20:52)
- Superannuation - who gets it when you die? (24:15)
- SMSF - what are the key differences? (28:42)
- Life insurance inside superannuation (39:30)
- How to protect your kids in case you die (31:01)
- How much do these structures cost? (33:27)
Links* Podcast - 46. Terry Waugh - Structuring * Website - Structuring Lawyers Pty Ltd * Podcast - The Structuring Podcast * Facebook - Aussie FIRE Discussion Group * Forum - Property Chat
www.aussiefirebug.com/podcast
Have you ever been ripped off by a financial advisor?
Today’s podcast is all about identifying the tactics financial advisors use that put their interests ahead of yours.
Joining me in this discussion is Phil Harvey. He’s an independent financial advisor and one of the founding members of PIFA which stands for the Profession of Independent Financial Advisers.
Some of the topics we cover are:
- Who is Phil Harvey? (05:41)
- Phil's personal experience with financial advisors in 2010 before the royal commission (08:01)
- What motivated Phil to help start PIFA? (11:20)
- What is an independent financial adviser? (13:29)
- Fee structure differences between independent and non-independent advisors (15:25)
- What percentage of all financial advisors are independent? (22:09)
- Red flags when vetting financial advisors (36:15)
- Phil’s tips on avoiding being ripped off by a financial advisor (55:11)
Links* Website - PIFA (Profession of Independent Financial Advisers) * Website - Construct Wealth - Independent Financial Advice * Podcast - Are Financial Planners Worth the Money? feat. Paul Benson
www.aussiefirebug.com/podcast
My guest today is Matt Ridley, a British science writer, journalist and businessman who holds a PhD from Oxford in Biology. He’s worked for many famous publications such as The Economist, The Wall Street Journal and The Times (London). Matt is probably best know within the FIRE community for his award winning book, The Rational Optimist which was published in 2010. This is one of the best books I’ve ever read that offers a counterpoint to the prevailing pessimism of our age and proves, however much some people like to think to the contrary, that things are getting better.
Some of the topics we cover are:
- How did Matt come to be a writer? (08:18)
- As a scientist, what attracted Matt to economics, business and politics? (14:17)
- The relationship between evolution and human innovation (16:39)
- Why did Matt write The Rational Optimist? (20:25)
- Matt’s famous TED Talk – “When Ideas Have Sex” (24:56)
- How much better are we living in the 21st century compared to our ancestors? (30:03)
- Is the 24/7 continuous flow of information good or bad for humanity? (36:27)
- Matt talks about his new book – “Viral: The Search for the Origin of COVID-19” (50:50)
Links* Book – The Rational Optimist * TED Talk – When Ideas Have Sex * Animated version of essay – I, Pencil – Leonard E. Read * Book – Viral: The Search for the Origin of COVID-19 * Website – mattridley.co.uk
www.aussiefirebug.com/podcast
In this episode we’re not talking about money or investing but rather touching on the sustainable side of the FIRE movement. Today my guest is Anthony Broese van Groenou, a sustainability expert, environmental scientist, PhD researcher and the co-founder of the Good Car Co. This company's goal is to accelerate the uptake of Electric Vehicles in Australia by offering second-hand EVs at an affordable price.
Some of the topics we cover are:
- Who is Anthony Broese van Groenou and what is the story behind the Good Car Co.? (03:24)
- What options are there now for Australians who want to purchase an EV? (07:11)
- What is the price range in Australia for second-hand EV’s atm? (12:44)
- One of the most exciting features of EVs in my opinion is the two-way charging capabilities. What does this mean and what are the benefits? (20:27)
- How much can an average Aussie expect to save on fuel and maintenance costs with an EV? (30:10)
- How long does an EV battery last and what is the replacement cost? (31:46)
- What about EV battery warranties - do they get passed on to the second-hand car owner? (34:54)
- Do EV’s actually lower CO2 emissions when you factor in everything it takes to actually make the car and the battery? (44:20)
Links* Good Car Co.
www.aussiefirebug.com/podcast
Today I’ve invited Terry Waugh back on podcast to talk about a topic that’s very popular in the Aussie FIRE community. I recently published an article about how we (Mrs Firebug & I) are Debt Recycling and have received a lot of questions from the community about the details of how it all works. Terry is one of the most knowledgeable people I know on this topic and he has kindly agreed to join me to answer as many questions as we have time for.
Some of the topics we cover are:
- What is Debt Recycling? (02:28)
- What are some of the ways you can DR and how does it work? (03:48)
- What happens if you need to sell some shares due to an unforeseen event? (21:26)
- What happens if you don’t have a lump sum to invest? Can you DR with dollar-cost averaging? (23:04)
- Are there any products on the market that make DR any easier? (26:42)
- Can you explain your tip “Repayment needs to be done once in full”? (28:30)
- Can you use a fixed loan with DR or does it have to be variable? (29:30)
- Is DR more or less effective if the interest rates were to rise? (31:27)
- Can you still claim the interest if you redraw the money to increase leverage on a marginal loan to maximise purchasing power? (33:59)
- Does the loan need to be in your name to get the total deductions? (35:37)
- What happens if you refinance? (37:40)
- What happens if you sell the PPoR later down the track? (41:07)
- What happens if you convert the PPoR to an IP later down the track? (43:59)
- Can you sell a chunk of your portfolio in order to pay down the loan, redraw it back out and then buy the exact same shares as before? (47:15)
- What happens if the income from the trust is not enough to cover the interest on the loan? (49:14)
- If your PPoR loan is P&I do you have to structure the loan agreement to the trustee as P&I as well? (51:06)
- Can you DR with a trust if both the borrower and the trustee are the same person? (52:53)
- Debt Recycling an investment property (54:03)
Links* Debt Recycling article * Tax Tip 2: Debt Recycling * Using AMP’s Master Facility to Debt Recycle * Tax Tip 13: Simple Loan Structuring Strategy * Incorporating a Trust into a Strategy Recycling Debt * Structuring Lawyers Pty Ltd * The Structuring Podcast
www.aussiefirebug.com/podcast
This episode is a follow up on my previous conversation with Vijay Boyapati about Bitcoin.
Today Mark Monfort joins me to talk about other Crypto currencies, Web3 and DeFi. Mark has worn many hats in his career working as an equities and macroeconomic analyst in Melbourne and London and also spent time in sales at the ASX. Mark is a TradFi native turned DeFi convert and is passionate about building communities in Web3.
Some of the topics we cover are:
- How did Mark get involved with Crypto? (07:45)
- What is Web3? (10:00)
- Why use blockchain technology and what problem is it solving? (13:40)
- What is DeFi? (22:01)
- Bitcoin vs all the others. What is there to consider? (31:43)
- What Crypto currencies does Mark “invest” in? (41:54)
- Energy concerns about Crypto currencies (44:18)
- Proof-of-Work vs Proof-of-Stake? (53:50)
Links* NotCentralised * Australian DeFi Association * TradeFlows * ETFtracker * New Era Analytics
www.aussiefirebug.com/podcast
Today I have Bill Perkins on the podcast who is the author of the very popular book titled “Die with Zero: Getting All You Can from Your Money and Your Life.” The book challenges a few core FIRE beliefs and has definitely had an impact on the way I’m modelling for my retirement.
Some of the topics we cover are:
- Who is Bill Perkins and what is he all about? (06:20)
- Why Bill wrote “Die with Zero” (07:42)
- The value of experiences fluctuating throughout life (12:05)
- Memory dividends (28:30)
- What about the kids? (36:26)
- What if I run out of money before I die? (43:02)
- What the FIRE movement gets wrong (55:45)
- Criticisms of the book (58:37)
Links* Book - Die with Zero: Getting All You Can from Your Money and Your Life * Website - Die with Zero
www.aussiefirebug.com/podcast
Today’s episode is a summary of my blog post titled “ASIC Crush Independent Content Creators & the End of Ask Firebug Fridays”. The new ASIC guidelines have major implications for content creators in the FIRE and personal finance communities. This is why I wanted to share my thoughts and opinions on these new guidelines and what they mean for AFB moving forward.
www.aussiefirebug.com/asic-crush-creators
I have a really fun podcast for you guys today. It’s been 5 years since she was on, but I’ve finally managed to get Mrs Firebug back on the podcast. Sometimes it’s nice just to stop, turn around and look back at how far you’ve come. I thought it would be cool to get a life update from her perspective and just a general chit chat about her experience dropping down to working only 4 days a week.
Some of the topics we cover include:
- Knowing what we know now, what would we have done differently if we could go back in time? (04:08)
- How has moving to 4 day working weeks impacted Mrs Firebug's life? (12:26)
- Lifestyle creep - how has our lifestyle changed? (26:33)
- How have I changed over the years if at all when it comes to money? (31:06)
- How we have managed our finances as a couple (37:12)
- Will Mrs Firebug ever go back to full-time work? (41:17)
- Mrs Firebug’s tips for anyone with a partner pursuing financial independence (45:33)
Links* podcast - Episode 7. Mrs Firebug
www.aussiefirebug.com/podcast
Today’s episode is a summary of my “We Bought Bitcoin” article which is all about why we have decided to buy Bitcoin and how Bitcoin plays a part in our financial independence strategy.
Some of the topics I cover are:
- Post-crash and General Feelings (04:51)
- Down the Rabbit Hole (06:46)
- Risk Verse Reward (10:03)
- End Goal (12:22)
- But Why? (14:00)
- Conclusion (17:12)
Links
- podcast - Vijay Boyapati - The Bullish Case for Bitcoin
- podcast - Decoding Crypto
www.aussiefirebug.com
My guest today is John Pidgeon. John is probably known best as the co-host of the very popular podcast, ‘My Millennial Property’ and has been investing in real estate for over 20 years. I had so much fun with this episode because John and I bounce around all different topics and we even get some footy chit chat in there as well.
Some of the topics we cover are:
- How John got involved with property investing (12:27)
- Bringing up children in a money-conscious household (15:00)
- Private vs public schools (22:37)
- John's first property investment (27:28)
- His current real estate strategy and what his portfolio looks like (32:34)
- Are first home buyers currently locked out of the market? (50:57)
- Tips for first home buyers (55:55)
Links* podcast - My Millennial Property * website - Solvere Wealth
www.aussiefirebug.com/podcast
Welcome back to another episode of Ask Firebug Fridays! Today Terry W has returned to the show to help me answer your questions.
Some of the topics we cover in today’s episode:
- A lengthy case study involving a couple who partially owns two businesses through a company and a trust. How their current share portfolio is structured and if Terry has any concerns or recommendations. (03:39)
- Receiving the monetary value of a trust distribution that doesn’t go directly to you. (35:36)
- Can you distribute franking credits only to someone in a high tax bracket? (41:36)
- Working as a contractor under the PSI rule and trust distributions. (43:07)
- Estate planning for families with international assets. (45:11)
Links:
- podcast - Episode 46. Terry W - Structuring
- podcast - The Structuring Podcast
- website - Structuring
- website - terryw.com.au
www.aussiefirebug.com/aff
Today I’m chatting with Terry & Ryan from the Passive Income Project podcast. I’ve been listening to their show for a few years now and what I really like is their emphasis on the psychology of investing and money. They’ve recently gone deep into the world of crypto in their latest podcast series called “Decoding Crypto”.
Some of the topics we cover are:
- Is the financial planning industry coming to a crossroads? (00:11:08)
- Is there a consensus among financial planners about what needs to happen to give everyone a fair crack? (00:16:40)
- Where did the focus on the psychology of money come from? (00:20:00)
- What do you find is holding people back from becoming comfortable with money? (00:24:13)
- When did you discover the concept of FIRE and how did that impact you? (00:32:11)
- What do you invest in these days and what is your investing philosophy? (00:38:36)
- "Decoding Crypto" - when did that journey begin for you guys? (00:41:29)
- What would you say to someone who wants to dabble in the world of crypto? (01:18:44)
Links* website Cashflow Co * podcast Passive Income Project * podcast Paul Benson - Are Financial Planners worth the money? * podcast Decoding Crypto
www.aussiefirebug.com/podcast
My special guest today is one of the very first personal finance bloggers that I can remember. It’s J. MONEY from the 2012 Blogger of the Year awards “Budget Are Sexy”. J. managed to become a millionaire in roughly 10 years and has blogged throughout the journey posting his net worth each month which definitely inspired me to start something similar in Australia back in 2015.
Some of the topics we cover are:
- J.’s experience of buying a house in 2007 and what the fall out of the GFC was like as an American (14:19)
- What made you start your blog back in 2008? (22:37)
- Where did the idea of posting your net worth come from? (34:08)
- How did you get to $1,000,000 USD net worth in 10 years? What was your investment strategy? (39:24)
- What did you invest in to reach your FI goal and what is your investing philosophy today? (55:11)
- When did you first discover the concept of FIRE? (1:00:33)
- What is the best part about being FI and how does being FI allow you to live your ideal lifestyle? (1:05:59)
- If you could give one piece of advice to someone who’s looking to be better with their finances, what would that be? (1:08:11)
Links* J. MONEY website * Twitter @BudgetsAreSexy * Budgets Are Sexy website * JL Collins Stock Series
www.aussiefirebug.com/podcast/
I’m joined today by our favourite Kiwi here at the Aussie Firebug podcast - it’s Ruth, also known as The Happy Saver who featured on the show back in episode 47. Ruth and I are answering 3 questions from the community today.
- Royal screw ups and the lessons we’ve learned. (05:53)
- Changing portfolio allocation when transitioning to retirement. (28:34)
- Micro investing apps - are they a waste of time and money? (43:37)
Links
- Blog - The Happy Saver
- Podcast - The Happy Saver
www.aussiefirebug.com/aff
My guest today is Scott Phillips - a Sydney based investor with over 20 years experience. Scott holds a Bachelor of Commerce and a Graduate Diploma of Accounting but is most famous for his role as Chief Investment Officer of The Motley Fool Australia. This is a monster episode where we dive deep into many different areas of investing.
Some of the topics we cover are:
- Where does it all begin with Scott Phillips and finance? (00:05:10)
- How and when did Scott start investing? (00:14:31)
- What does Scott invest in these days and what is his investing style/philosophy? (00:16:30)
- Is there a significant difference between getting income from dividends or selling down shares? (00:26:48)
- How do you identify a good company and what methods do you use? (00:31:43)
- Structuring investments for children. (00:35:57)
- Was financial independence ever a goal for Scott? (00:38:51)
- What does Scott make of this low-interest-rate world we are currently living in? (00:51:02)
- Does Scott think Australia is in a housing bubble? (00:54:20)
- What are Scott’s thoughts on Cryptocurrency and NFT’s? (01:06:34)
Links* The Motley Fool Australia * Scott’s investment holdings
www.aussiefirebug.com/podcast/
I’m kicking off the new year with a little refresher and a summary of a new article called “10 Lessons I've Learned from 10 Years Pursuing Financial Independence”. Check it out!
- The ultimate goal is to be happy. Never lose sight of this (03:50)
- Find your why of FI (07:18)
- Master behaviours, not spreadsheets (08:43)
- Getting wealthy is simple. Don’t overthink it (14:38)
- What’s measured is managed (19:07)
- Income potential is often overlooked (23:43)
- Compound interest takes years to notice (30:26)
- Most people are really after semi-retirement (35:58)
- Find your ‘enough’ (41:59)
- We’re all dealt a different hand in the game of life (47:02)
www.aussiefirebug.com
Have you ever wondered how far your donations to charities really go? I know it feels good to donate and we should all consider giving away part of our wealth considering we Aussies are some of the wealthiest people on the planet, but I’m not sure many of us really go over with a fine-tooth and comb how the money is spent and how many people are affected with every dollar.
Today I’m speaking with Luke Freeman, a former tech and marketing professional who had a desire to positively affect the lives of the less fortunate in the world. Luke is the Chairperson and a Board Member of Effective Altruism Australia and Executive Director of Giving What We Can, which are both charitable organisations designed to help the less fortunate.
The attributes of effective altruism share a lot of similarities with the FIRE movement. It’s all about using evidence and reason to figure out how to benefit others as much as possible, and taking action on that basis.
Some of the topics we discuss in this episode:
- Who is Luke Freeman and how did he become interested in giving back to others? (03:05)
- What is Effective Altruism Australia (EAA) and how did it start? (07:33)
- Is EAA a not-for-profit organisation and how does it actually work? (10:04)
- What are the tax advantages of donating through EAA? (14:58)
- What metrics does EAA use when assessing how effective time and money are used in charitable organisations? (16:39)
- Is corruption in charitable organisations a real issue or is it overblown by the critics? (22:56)
- What are some of the biggest problems in the world that EAA is targeting? (27:25)
Links* Website - Effective Altruism Australia * Website - Giving What We Can * LinkedIn post - Eating Less Than $2 / Day
www.aussiefirebug.com/podcast
Today I’m speaking with Julia Druery, a mum of two, living on the Gold Coast who was studying to become a financial advisor before a tragic event hit her family back in 2016. Julia’s husband Kent suffered from an acquired brain injury which left him with several permanent disabilities and no longer able to work. Thankfully Kent had various insurances in place before the injury which helped to relieve the financial pressure of this life changing event.
Some of the topics we cover are:
- Julia shares the story of her husband Kent’s acquired brain injury. (08:54)
- What was the process of claiming insurance payments after the injury occurred? (12:03)
- What is trauma insurance and is it included in default super cover? (17:25)
- Why is lifestyle an important consideration when making insurance decisions? (27:16)
- How much does all this cover cost and is it really worth it? (30:32)
- How has Julia & Kent's insurance cover impacted their lifestyle today? (35:01)
- Julia’s personal experience with debt recycling. (48:18)
Links* Website - Who Moved My Goalposts * Website - QARC - Queensland Aphasia Research Centre
www.aussiefirebug.com/podcast
My guest today is fellow Aussie, Vijay Boyapati who is an Ex-Google engineer and the author of The Bullish Case for Bitcoin. Vijay’s book has been translated into over twenty different languages and is said to be one of the most read pieces of literature on Bitcoin. This is a monster episode and we go deep into so much more than just Bitcoin and the Blockchain.
Some of the topics we get into include:
- Who is Vijay and what led him to start working for Google? (04:28)
- Vijay shares why he identifies as a Libertarian and what he learned from working in Silicon Valley. (08:13)
- Why Vijay left his job at Google in 2007 to work on the Ron Paul US presidential campaign. (11:46)
- What exactly is Bitcoin and the Blockchain? (15:06)
- Why is Bitcoin important and what problem does it solve for the average person? (31:51)
- Gold v Bitcoin (45:27)
- Will Bitcoin be used as money anytime soon? (01:02:22)
- FIRE community Q&A (01:17:57)
Links* Article - The Bullish Case for Bitcoin * Book - The Bullish Case for Bitcoin
www.aussiefirebug.com/podcast
Today I’m joined by an Aussie FIRE favourite - Tina from MoneyFlamingo.com
The 3 topics that we’re covering today are:
- How many ETFs are too many? (04:41)
- Using cash as a deposit or to invest in Sydney at the moment considering the housing market. (15:53)
- The inevitability of a recession and how that affects us investing in the now. (23:14)
Links
- Article - VDHG or Roll Your Own
- Article - Meet Bob The Worlds Worst Market Timer
- Website - Money Flamingo
www.aussiefirebug.com/aff/
Today I’m speaking with Chi Lam, an ex team-lead in the medical devices industry who lives in Sydney with his wife and 2 daughters. Chi was recently featured in an ABC Everyday article where he shared his story about how he quit his full-time job in his mid-thirties and redesigned his life so he could spend more time with his family.
Some of the topics in today’s episode include:
- Who is Chi and when did he start thinking about financial independence? (06:37)
- Chi shares the traumatic story of how he and his family came to Australia from Vietnam. (07:51)
- What Chi learned about money and life from his experiences as a child refugee. (13:19)
- When, how and why Chi got started investing in property. (16:18)
- Chi talks about the day he quit his job and what made him take that leap of faith. (28:45)
- How Chi’s side hustle/passion project has grown into a full-time business on his own terms. (36:02)
Links* Article - ABC Everyday - Chi Lam
www.aussiefirebug.com/podcast
It’s my absolute pleasure to welcome Ruth onto the show today. Ruth lives in New Zealand and is better known online as The Happy Saver. She has a very popular podcast and blog where she writes about managing money, living the good life and not working too hard.
Some of the topics in today’s episode include:
- Who is Ruth and why did she create The Happy Saver blog and podcast? (04:49)
- Ruth shares her personal money story and how she became interested in investing. (10:10)
- The important life lessons Ruth learnt from losing her family home in an Earthquake. (16:11)
- Property investing - the significant differences between NZ & AUS tax laws. (19:28)
- The major advantage of investing in the share market in NZ. (24:40)
- Advantages of living in the country over the city. (29:48)
- What does Ruth actually invest in? (35:43)
Links* Blog - The Happy Saver * Podcast - The Happy Saver
www.aussiefirebug.com/podcast
Today I’m speaking with Terry Waugh who you may know as Terry W from his online legal and tax tips. Terry is admitted as both a solicitor and barrister to the Supreme Court of NSW as well as the High Court of Australia and holds specialist qualifications as a Chartered Tax Adviser. He operates as a lawyer specialising in tax, estate planning, asset protection, and trusts for property and share investors.
Some of the topics in today’s episode include:
- What structuring options do investors have when owning or controlling assets - specifically property and shares? (05:22)
- Land tax - when is it relevant to property investors? (08:34)
- Do many people invest through a company and what are the benefits of doing so? (10:43)
- What trust structures work best for property and share investors? (13:40)
- What is a trust, how do they work and how do investors benefit from trust structures? (15:44)
- What are discretionary trusts and why are they so commonly used? (19:05)
- What are the main pros and cons of using a trust structure and when does it make sense to use one? (20:49)
- How does a trust structure protect your assets? (25:20)
- How do distributions work when investing through a trust? (27:10)
- Who can pay money into a trust and how does that work? (29:42)
- When does it make financial sense to set up a trust? (34:38)
- How much do trusts cost to set up and to keep running? (35:34)
- What is a bucket company and why would anyone use it? (36:14)
- Terryw’s Tax Tip #14 - Never park money in a loan - why avoiding mixed purpose loans is so important. (40:09)
- How to set up and execute a debt recycling strategy in 2021. (42:54)
- Are testamentary discretionary trusts a good option for preserving wealth for your kids? (47:49)
- Why Terry thinks that a testamentary discretionary trust is the ultimate structure. (50:00)
- Buying an investment property through a company structure. (54:06)
- Protecting your own assets when entering a new personal relationship. (55:34)
- Who is the best person to see for investment structuring advice - a lawyer, accountant or financial adviser? (01:00:12)
Links* terryw.com.au * structuring.com.au * The Structuring Podcast * Terry’s Tax Tips
www.aussiefirebug.com/podcast
TGIF 🎉
Stoked to have Dave from Strong Money Australia joining me for today's episode.
The topics in today's episode are:
- Hedging (06:50)
- Shares vs Property (13:49)
- Dividend DRP (33:27)
- Our exit strategy with shares (37:33)
We also go down a few rabbit holes like inflation which was fun to chat about.
Links* Podcast - Episode 35. Lacey Filipich – Author of ‘Money School’
www.aussiefirebug.com/aff
Today I’m speaking with Paul Benson from the Financial Autonomy podcast. Paul is a tertiary-educated financial planner with over 20 years of experience. We talk about the role of a financial planner and Paul gives us some real-life examples of how financial planners are able to assist us with our FIRE journeys.
Some of the topics in today’s episode include:
- What exactly is a financial planner?
- Why do financial planners have a bad rep in the FIRE community?
- How much does a financial planner actually cost and what should you expect for that fee?
- How do financial planners get paid and how do you tell a good financial planner from a bad one?
- If someone already has a dialled-in FIRE plan, where is the value in paying a financial planner?
- How to find a good financial planner. Is there a financial planner directory in Australia?
- What questions should you ask and what to avoid when choosing a financial planner?
Links* Financial Autonomy website * Financial Autonomy podcast * ASIC Financial Advisers Register * Financial Planning Association of Australia
www.aussiefirebug.com/podcast
Today, I’m excited to have Bryce & Alec from the extremely popular Equity Mates podcast on the show. We chat about how Equity Mates was founded, Bryce and Alec's journey as investors and there’s even some footy talk as well.
Some of the topics in today’s episode include:
- How long have Bryce & Alec been friends and what’s the story behind the Equity Mates Podcast?
- Bryce & Alec talk about how they were brought up and how each of them learnt about money and investing.
- How Alec lost all his money in his first investment on the stock market.
- What has changed since Bryce started his investing journey?
- The Equity Mates investing goals, philosophies and strategies. What do Bryce & Alec actually invest in?
- The advantages that retail investors have over fund managers.
- Does Bryce really hate the FIRE movement?
Links* EquityMates website * Get Started Investing podcast * EquityMates Investing podcast * Get Started Investing book
www.aussiefirebug.com/podcast
My guest on the show today is Finn Peacock from SolarQuotes.com.au. Finn is an electrical engineer with a passion for renewable energy that led him to create a business dedicated to helping people bring solar energy into their homes. Finn started the SolarQuotes company in 2009 and is an expert on retail domestic solar systems and renewable energy.
Some of the topics in today’s episode include:
- Finn’s backstory and how he ended up getting involved with solar energy.
- What to think about if you’re considering buying a solar system for your home.
- How does a solar system actually save you money?
- How to decide what size solar system is right for your home and how to calculate the payback period.
- Common mistakes people make when choosing a solar system.
- Where does Finn see the future of sustainable energy heading?
Links* SolarQuotes * SolarQuotes Tools * SolarReviews * Solar Analytics * Tony Seba
www.aussiefirebug.com/podcast
Today I’m joined by Owen Raszkiewicz from the Australian Finance Podcast and the Australian Investors Podcast. Owen is the founder of Rask which is a financial and investment education company based in Melbourne. Prior to founding Rask, Owen was an investment analyst at the managed funds research business Zenith Investment Partners and a Writer/Analyst for The Motley Fool Australia. We touch on a lot of interesting topics in this pod but one area that I was really keen to pick his brain on is active investing. Owen has a breadth of knowledge in this area that far exceeds my own and I think it’s good to hear another point of view from an expert.
Some of the topics in today’s episode include:
- Owen shares his personal story of growing up and his relationship with money.
- The light bulb moment when Owen understood a common pathway to financial success.
- Owen’s investing philosophy, principles and personal financial goals.
- What is value investing and how does it work?
- Can an active investor actually beat the market over a long time period following a set of principles and guidelines?
- Do private investors really have an advantage over fund managers?
- What is Rask all about and what does Owen hope to achieve through the company?
Links* Rask * Australian Finance Podcast * Australian Investors Podcast * Scott Phillips | Investing in & Growing a Brand
www.aussiefirebug.com/podcast
The topics in today's episode are:
- What Mrs FB and I sacrificed at a young age to achieve our current Net Worth? (00:01:30)
- The reasons/perks of living in country Australia? (00:11:12)
- Why I'm selling my investment properties? (00:24:56)
www.aussiefirebug.com/aff
Today I’m chatting with Tina from moneyflamingo.com which is an Aussie FIRE blog that focuses on a very cool concept called Flamingo FI. Tina shares her incredible journey of how she and her partner went from being broke and clueless in their early 30s to happy semi-retirees just 5 years later. I’m sure the concept and strategy of Flamingo FI will be very interesting, applicable and relatable to a lot of people out there listening.
Some of the topics in today’s episode include:
- Where the name Money Flamingo came from. What is Flamingo FI and when did Tina come up with this concept?
- The shock of starting her first job and the reality of a lifetime of working full-time as a lifestyle. When Tina realised that she no longer had control of her time she went searching for an alternative to the standard path.
- When did Tina first discover the concept of financial independence and FIRE? How she almost gave up before she began and did nothing about it for 3 years.
- What really matters on the path to financial independence? Is money really the most important part?
- Tina’s personal story - how Tina and her partner went from broke to semi-retired in just 5 years.
- The reality of semi-retirement and living a balanced life.
- What is the difference between Flamingo FI & Coast FIRE?
Links* Website - Money Flamingo * Blog - JL Collins - Why You Need F-You Money * Blog - Mr Money Mustache - The Shockingly Simple Math Behind Early Retirement * Website - Networthify * Book - The Psychology of Money - Morgan Housel * Blog - Project 1000: 1000 days to Freedom * Blog - Hypocrisy and Manipulation - Is the FIRE Movement Corrupt?
www.aussiefirebug.com/podcast
Today I’m interviewing Ben, a 34-year-old husband & father hailing from South Australia who is well on his way to reaching financial independence.
Ben reached out to me via my website and offered to share his personal experience with the NAB Equity Builder. This is a really popular financial product that often appears on financial forums so I thought it was a great opportunity to find out what it’s really like. We take a deep dive into the pros & cons of the NAB Equity Builder and how Ben and his wife are using it as a significant part of their journey to FIRE.
Some of the topics in today’s episode include:
- Ben’s backstory and why he chose to invest in shares using the NAB Equity Builder.
- What is the NAB Equity Builder and how does it work?
- Margin calls, LVR and what makes the NAB EB different from other margin loans.
- The NAB EB interest rate, fees and application process. Who actually owns the shares?
- How much Ben borrowed to get started and what he used as collateral.
- What extra gains has Ben made using the NAB EB over the last couple of years?
Links* NAB Equity Builder * NAB EB Guide by The Ships Ledger
www.aussiefirebug.com/podcast
The topics in today's episode are:
- Guides for investing in shares (00:01:42)
- The dividend yield trap and why the total return is important (00:09:21)
- How to be more patient during the FIRE journey (00:14:20)
www.aussiefirebug.com/aff
Today I’m joined by Ben, a sustainable living enthusiast from South Australia who lives completely off-grid with his wife and children.
Ben's a member of the Aussie FIRE Discussion Facebook Group who posted about his self-sufficient home last year which really struck a chord with the community (it's still one of the most popular submissions to date). Ben has been kind enough to share his story of building an off-grid house and living sustainably in South Australia.
Some of the topics in today’s episode include:
- How Ben and his wife designed and built a completely off-grid home.
- Their journey towards the dream of sustainable living.
- The primary driver of going off-grid and building this house.
- Utilising a solar energy system to completely power a family home.
- How much does it really cost and how long will it last?
- How to deal with heating and cooling when you’re not connected to the grid.
- Running water and the challenge of sustainable water usage when rain is your only supply.
- How to create a domestic system that generates zero wastewater.
- The bottom line - what was the total cost of the project?
Links* Aussie FIRE Discussion Group * Lithium-Ion Battery Test Centre * CSRIO Solar PV for your home: testing what’s Watt
www.aussiefirebug.com/podcast
Today it’s my pleasure to welcome Kurt to the show. Kurt is the co-founder of the online brokerage company Pearler. We talk about Kurt's relationship with money, how and why Pearler was started and what it takes to get a fintech startup off the ground.
Some of the topics in today’s episode include:
- Kurt’s upbringing in an entrepreneurial family. His relationship with money/investing and his personal investing goal & strategy.
- The inspiration behind the creation of Pearler.
- The psychology of money & investing. Meaningful work and the ultimate benefits of financial independence.
- What sets Pearler apart from the pack.
- What’s involved in starting and building a company like Pearler?
- Where does the money come from?
- Angel investing, founder accelerator programs & building out a fintech team.
Links* Pearler * Book - The Barefoot Investor * Book - The Psychology of Money * AngelList
www.aussiefirebug.com/podcast
Today I’m chatting with Katy Winter who may be the very first Aussie FIRE blogger ever! Katy has an inspiring story of overcoming disadvantages and adversity to pursue financial independence as a parent in a household of 5 kids.
Some of the topics in today’s episode include:
- Katy’s backstory and how the Wealthy Winters FIRE blog came about way back in 2014.
- Katy’s experience of suddenly losing her mum when she was 8 months pregnant with her second daughter.
- An unexpected inheritance and what she did with the money.
- Katy’s journey from Minimalism to Barefoot Investor to FIRE and what really matters in life.
- Parenthood - Katy shares tips for those who are thinking about having kids while pursuing financial independence.
- How Katy got started with investing and what she bought first.
Links* Blog archive - Wealthy Winters * Facebook group - Financial Independence & Early Retirement Australia * Book - Early Retirement Extreme - Jacob Lund Fisker * Aussie HIFIRE - FIRE and Kids - The cost of raising children in Australia * Book - The Whole-Brain Child: 12 revolutionary strategies to Nurture Your Child's Developing Mind - Tina Payne Bryson
www.aussiefirebug.com/podcast
Summary:
Today I’m joined by my good friend and fellow FIRE blogger and podcaster Pat from lifelongshuffle.com and the FIRE & Chill Podcast. The theme of today’s Q&A podcast is focusing on buying your first home which is something both Pat and I have done this year.
The four questions that we're covering today are:
- I want to buy a house but I'm terrified that the market is way overpriced and it's going to come tumbling down after a buy? (00:09:42)
- Dealing with underquoting? (00:17:56)
- Should I use a buyers agent? (00:30:50)
- How to deal with an agent if you're suspecting they're lying about price increases from other parties? (00:37:47)
Links:
- Pat’s blog - Life Long Shuffle
- FIRE & Chill Podcast
- KoalaData
- Pricefinder
- tic:toc
- Bank Australia
www.aussiefirebug.com/aff
The topics in today's episode are:
- Can I just invest in Vanguard and leave it alone? Do I need to know what’s happening or make changes? (00:01:56)
- Is the 4% rule still valid given the current predictions of low returns in this low-interest-rate environment? (00:12:50)
- UK pensions for Aussies working abroad (00:21:38)
www.aussiefirebug.com/aff
I'm joined today by the author of Money School and superstar of the Aussie FIRE discussion group, Lacey Filipich.
We’re going over three questions in this episode:
- Buying shares prior to the ex-Dividend date (00:03:29)
- I'm scared of making a mistake when investing and losing it all (00:10:00)
- Debt recycling (00:27:58)
www.aussiefirebug.com/aff
Some of the topics in today's episode are:
- Tax minimisation (00:01:25)
- Should I wait until the next recession before I start to buy shares? (00:10:17)
- Leveraging into shares (00:21:14)
www.aussiefirebug.com/aff
Today’s episode is focussing on family financial topics. I thought I’d get an expert in this subject manner on the pod so I’ve invited Lee from Family Finance to help me answer your questions.
We’re going over three questions today:
- Private health insurance and who Family Finance uses (00:03:55)
- Balancing how to give your children everything they need without spoiling them (00:15:12)
- Some of the biggest costs associated with having children (00:26:08)
Links:
- Family Finance YouTube Channel/Instagram Page
- Lifetime Health Cover Loading for people 31 and over
www.aussiefirebug.com/aff
Today I’m speaking with Glen James, a multi-award-winning financial advisor who is the creator and host of the very popular podcast, My Millennial Money. Glen’s a self-proclaimed ‘spender’ but was able to develop a process and system to manage his own money at an early age that ultimately lead him to financial success. He then went into helping others achieve their financial goals starting and selling multiple businesses along the way. Glen highlights some really interesting points about the FIRE movement as well as the importance of giving back as you build your wealth.
Some of the topics in today’s pod include:
- Glen’s relationship with Money and the systems and processes he has built (00:04:44)
- Super asset allocations (00:14:01)
- Glen’s investing philosophy (00:15:40)
- Why the FIRE movement needs to ditch the RE (00:21:32)
- Being charitable whilst building wealth (00:32:25)
- My Millennial Money Podcast (00:39:27)
Links* Sort Your Money Out * Glen with Dave Ramsey * My Millennial Money
www.aussiefirebug.com/podcast
Today I’m chatting to Lacey Filipich, author of 'Money School' which is an Australian book about becoming financially independent reclaiming your life.Lacey resume is very impressive, she's an engineer, author and successful entrepreneur starting multiple companies who reached financial independence in her early 30s.
Some of the topics in today's pod include:
- Lacey’s upbringing and her road to financial independence (0:02:12)
- Burning out at work (0:10:48)
- Lacey’s investment strategies and current asset allocations (0:22:40)
- The Money School Book (0:56:42)
- How you can use Options with a FIRE strategy (1:05:34)
- Bank bail in-laws and what it could mean for people holding large amounts of cash (1:14:51)
For a full transcription of today's episode plus show notes, please head over to www.aussiefirebug.com/lacey-filipich-money-school/
Some of the topics in today's episode are:
- How do companies like BetaShares and Vanguard weight individual companies in their ETFs? (00:02:34)
- Anxiety from leaving your job once you have hit your FIRE number (00:10:16)
- How to handle tax returns when you start to invest in ETFs (00:21:05)
www.aussiefirebug.com/aff/
Today I invited one of my favourite Aussie FIRE bloggers on the pod, and that’s none other than Aussie HIFIRE. HIFIRE works in finance and is looking to create a higher than average income stream to fund his retirement.
Some of the topics we cover are:
- Who is Aussie HIFIRE? (00:04:30)
- What is HIFIRE and how does it differ from regular FIRE? (00:05:10)
- What does AHF want to do during retirement? (00:11:53)
- The role that bonds play in a portfolio (00:18:53)
- How Aussie HIFIRE approaches FIRE and kids (00:29:42)
- Income insurance during the accumulation phase (00:44:10)
www.aussiefirebug.com/aussie-hifire/
Hey guys, welcome to the Aussie Firebug podcast, My names Matt, I’m a country boy for regional Victoria. I barrack for the Magpies, I love to snowboard and I play way too much Call of Duty. I’m a pretty normal bloke, but the one area where I’ve always been a bit different is when it comes to money and investing. In fact, I’m on track to reach financial independence by my mid-thirties and plan to retire early. That’s what the FIRE acronym stands for, financial independence, retire early. You might be thinking “There’s just no way someone could retire in their 30’s without a big inheritance, high paying job or winning the lotto”! But that’s just not true! Early retirement is 100% possible for most Australian. FIRE was a movement that started in the US around 2011 and has since spread all over the world.I stumbled across it in 2013 and when I read the formula for reaching early retirement, it blew my mind. It was one of those lightbulb moments that changed my life forever. There were heaps of great content creators for the states but they were all talking about 401K’s and Roth accounts. I wanted to know if FIRE was possible for Australians, so in 2016, I created the Aussie Firebug podcast. This is the financial independence podcast for Australians where I chat with people who have already reached or are on their way to financial independence. There’s also a segment called Asked Firebug Fridays where I answer listeners questions on the last Friday of every month. If you want to know more about me or the FIRE movement in Australia. Head over to https://www.aussiefirebug.com/welcomeI hope you guys enjoy the show and I’ll see you in the next episode
Today's episode covers the incredible story of how retail investors are taking on billionaire hedge funds. This David vs Goliath story heated up last week and the big wigs on Wallstreet resorted to insanely dirty tactics to try and break the internet army. Some of the topics we cover are:- What is GameStop (00:03:40)- What does it mean to short a stock? (00:08:45)- Dirty/Ilegal tactics that these hedge funds are trying to implement to stop further losses from occurring (00:17:25)- Why this story is resonating with so many millennials (00:27:40)- Aussies were trying to buy $GME stock on the ASX which is actually a mining company 🤦♂️ (00:46:13)#✋💎🤚#🚀🚀🚀#🦍💪🦍#Wejustlikethestock
I'm joined today by Captain FI.
Some of the topics we chat about are:
- Speaking to financial advisors and where to find good ones (00:05:39)
- Is it a good time to buy bitcoin?(00:18:38)
- DCA vs lump sum investing(00:33:07)
Today I’m chatting to Dev Raga, a medical professional from Melbourne who migrated from India as a child in the 80's. Dev runs his own podcast at devraga.com and is breaking the stereotype of Doctors not being the best with money with his educational content on various personal finance topics. Some of the topics we cover are:- Dev's background (00:03:03)- How long does it take to become a doctor and when do they start earning the big bucks? (00:10:30)- How Dev became interested in FIRE (00:23:12)- What Dev invests in (00:44:06)- The Dev Raga Podcast (00:51:14)For a full transcription of today's episode plus show notes, please head over to https://www.aussiefirebug.com/dev-raga/
https://www.aussiefirebug.com/aff/A bit of a different AFF today guys, It's been ages since I last uploaded any audio content and I wanted to give you all an update as to what has been going on and where the podcast is heading.I also touch on a topic that I've already covered but my thoughts have changed over the last few years and I think a few people would like to hear what I would have done differently if I had to start my FIRE journey all over again from scratch.- Intro + Podcast update (0:57)- What I would have done differently if I had to start all over again (7:58)
www.aussiefirebug.com/early-access-to-super/Today I’m chatting to Sam.A financial planner from around the Byron Bay area who had a really interesting path before he landed in Finance. Sam reached out to me after my Super podcast with James from earlier on in the year and explained that there was so much more to cover when it came to Super and FIRE for Aussies.Some of the topics we cover:- Early access to Super and what it means- Eligibility to get early access - Circumstances where it makes financial sense to withdraw your Super early- First Home Super Saver Scheme (FHSSS)- Sam's approach to the classic dilemma of investing inside or outside of - Super even when aiming for FIRE
https://www.aussiefirebug.com/fire-and-chill-with-pat-dave/ What a treat I have for you guys today.I’m joined by two of my absolute favourite bloggers who have been creating Australian FIRE content for years. We’re speaking to Pat from LifeLongShuffle.com and Dave from StrongMoneyAustralia.com.Both Pat and Dave have already been on the podcast before... in fact, this will be Pat’s third time.How greedy I know…😜Today we’re chatting how COVID has effected each of us, has anyone changed their investment strategies due to the recent events but most importantly, they have some exciting news that coming to the Aussie FIRE space next week and that’s a brand new podcast they’re starting called FI/RE and Chill.
https://www.aussiefirebug.com/starting-an-online-business-games-like-finderToday I have the pleasure of speaking to Sam from Games Like Finder.com which is a curated video game recommendation database where you can discover new games based on what you’re currently into. What I absolutely LOVE about Sam’s story is he took a passion and turned it into an online business that helps out over 10 million gamers and generates up to an astonishing $4K a month in profit. Some of the topics we cover:- How Sam came up with the idea for gameslikefinder.com- What were the steps from inception into a product- How does Games Finder make its money- How much does Games Finder make- How much time do you put in each month to keep it running- Tax benefits of having an online business- Sam's advice for anyone thinking about turning their passion into a side hustleA full transcription of this episode can be found at aussiefirebug.com
www.aussiefirebug.com/coronavirus-market-crash-with-peter-thornhillI chat with Peter Thornhill about the current market crash and if this is any different to previous bear markets. Some of the topics we cover:- Peter's experiences with previous bear markets- Similarities to the GFC- What Peter's buying in this downturn- DCA or lump sum?- Is this just fear and confusion or maybe a financial reset?A full transcription of this episode on the blog
https://www.aussiefirebug.com/super-and-fire/We’re kicking off 2020 with probably my most requested podcast topic of all time… and that’s Super and its role in the FIRE journey for Australians.This is an absolute monster of a podcast (nearly 1.5 hours long 🤯) where I’m speaking to Super Guru James Coyle. We cover so many things in this pod and the topics range from “I know nothing about how Super works” all the way into the nitty-gritty technical details that hopefully will shed some light for us FIRE folk and maybe will help some people out there that are weighing up the pros and cons of Super when it comes to FIRE.Shoutout to everyone who contributed to the questions on the Aussie FIRE discussion Facebook group. I did my best to tried to ask James the most ‘liked’ questions from the community but couldn’t get them all in.Also massive shoutout to Josh for the transcript below and Victoria who helped with some of the technical questions we had 🙏Some of the topics we cover today include:- The basics of how Super and the pension work in Australia- Tax benefits of Super- The tax-free environment within Super and how it works in practice.- The major differences between funds and what to look for- Children inheriting Super- How it works from the accumulation phase to your pension fund- Smart things to do if you're 50-60 and nearing your preservation age- SMSF, are they worth it for FIRE chasers?- Women-specific considerations to maximize the outcome of Super (great tip below)- How do minimum withdrawal rates work in retirement- First Home Super Saver SchemeAnd that's not even all of it I swear 😅
https://www.aussiefirebug.com/making-money-on-youtube-brandon/ Have you ever heard stories about some people being able to make a living by uploading videos to YouTube?You know what I’m talking about, those urban legends of a cat video going viral and the owner receiving thousands of dollar each month in passive income.Today I’m speaking to Brandon, a 24-year-old Physio from Canberra who also runs the Aussie Wealth Creation YouTube Channel that currently has over 45,000 subscribers and generates over $3,500 thousand dollars a month through YouTube Ad revenue. Some of the topics we cover today include:- Why Brandon started his YouTube channel- How to monetise a Youtube channel- What’s important when creating content- How much money you can expect to make per views- Other passive income techniques Brandon has tried- The Young Investors Podcast
www.aussiefirebug.com/aff/In today's episode we chat about:- Investing a house deposit- Things I would have told myself 8 years ago- Why the unit price of a fund is largely irrelevant
https://www.aussiefirebug.com/matched-betting-feedbackToday's episode is about the feedback I've received from the matched betting podcast earlier this year. It's been over 6 months since I published the matched betting podcast and I've reached out to many of you who tried it through emails and surveys to get an idea of its success rate. Some are positive and others negative. I'm also addressing some criticisms that arose from that pod and to clear up a few things.
https://www.aussiefirebug.com/ted-richards Today I’m speaking to the former Fullback of the Sydney Swans, AFL premiership player Ted Richards. Although Ted has had an illustrious career in football, he is also passionate about investing and is currently the director of business development at Six Parks, an Australian Robo advisor investment platform. Today’s pod combines two of my favourite things which are investing and footy!Some of the topics we cover today include:- Investing as an AFL player- What Ted learned in footy that can be transferred to investing - The power of rules-based investing- Why understanding behavioural economics is so important- Six Park Robo investing platform - The Richard Report- Quickfire AFL related questions
www.aussiefirebug.com/aff/In today's episode we chat about:- Is a $45K FHOG too good of an opportunity to pass up?- Leaving the snowball for your kids? How would I do it?- The tax impact of our properties now we have moved overseas and become UK tax residents.I also learn the origins of why I mispronounce the word 'ask' and it's actually a lot more interested than you might think 😂!
www.aussiefirebug.com/aff/In today's episode we chat about:- Is gold part of our financial independence plan?- Are FIRE chasing missing out on returns by only investing passively? - How we manage to spend less than $50K a year!Question (1:50)Thanks for the great content!I was just wondering what your thoughts are on gold? Is owning some gold a part of your financial plan?Thanks a lot for your time,JuliaQuestion (7:28)Hi AFB,Congratulations to you for what you have achieved & continue to achieve on your FIRE journey.Thank you for your incredible generosity in sharing your knowledge, passion & enthusiasm. Inspirational!Up until about 6 months ago, I exclusively purchased ASX listed shares directly but in the last 6 months decided to start purchasing ETFs.Now that I have the ability to compare apples with apples, I have to say that my annualised returns for direct share purchases are at least twice that for the ETF benchmark of VAS (over the entire 6 years).I am not writing to boast - in fact, my purchases have been largely recommended by 2 share sites I subscribe to (intelligent investor & barefoot investor) so I can hardly take any credit.I know that the FIRE community is so bullish on indexes but I am not sure that you are not missing out on some reasonable returns.I know the theory that most people don’t beat the index & probs that is true in context. Little of what Buffet says in regards to share investing is wrong. but I think with a little bit of ‘expert’ advice & by that, I don’t mean full-service brokers who only work for themselves.I reckon that solely investing in indexes might be limiting your returns.Anyway, I guess I just write to you to raise the issue with you & share my thoughts.Once again - congratulations. I wish I had had your insight at your age.Thank you, take careTanyaQuestion (15:38)Hi mate,I'm so happy to find our Australian fire blog. I've been reading and listening to people like Mustache, fientist etc for quite some time.One thing that has always annoyed me is seeing how little they live off and not understanding how they can possibly make that work. I would love to see a breakdown of your yearly spending habits. I've had a look through your blog and can't find anything that matches this. I noticed you seem to live off only 50k a year with you and your partner, which also seems too bloody good to me haha.I look forward to seeing what sort of expenses you count.Thanks, Cameron.Closet F.I addict
https://www.aussiefirebug.com/election-results-and-strategy-2-5/Like Steven Bradbury before him, ScoMo and the Coalition skated past the ALP for a come from behind victory and with it, the franking credit refunds will remain for the foreseeable future.Now that the election has passed, it seems like things should proceed as per normal right? Well... about that. Today's episode dives into our modified strategy for 🔥 and how this years election taught us a valuable lesson in legislation risks when investing.
www.aussiefirebug.com/aff/In Today's episode we chat about:- REITs- Recommending certain investments to family members especially your parents- BondsQuestion (2:00)Hi Aussie Firebug,Since it’s Friday I thought I’d ask you a question:How do you feel about REITs? VAP has fairly stable growth and something around a 7-8% yield and would provide diversification across different types of property (commercial etc) and across the whole country. I think there are some tax implications in that distributions don’t qualify for franking credits, but since they may be gone soon anyway, does this really matter?I have also read that REITs are only loosely correlated to shares, which could be beneficial during market crashes.Thanks,LiamQuestion (8:33)Hey Aussie Firebug,Love the blog! Thanks for providing great content!I have a question about helping family to invest. My family are clueless about investing. Their idea of building wealth is to hide money under the mattress, they barely even trust their super and when they do make ‘’investment’ decisions, I don’t think they’re based on a sound understanding of the market.My parents are approaching retirement and luckily have a bit of cash sitting around that could be put to better use. The problem is I don’t feel comfortable telling them what to do with it. I’m new to this myself and don’t want to be responsible in case things go wrong.I’m even scared to suggest possible options (eg, Vanguard) in case they take my word for it, don’t do their own due diligence and then things go belly up.How would you handle this? Give them the info I have and let them decide, or don’t get involved at all?Appreciate your response!-Girl On FireQuestion (21:25)What is your view on bonds in your portfolio asset allocation?All the traditional advice is that 100% shares is not the best approach, yet I see over and over again people saying go 100% shares while you are young. Older, wiser heads that have gone through bear markets suggest a 60/40, 70/30 type split as a more responsible allocation.What are your thoughts on this?Do you plan to include bonds in your portfolio at one stage? Do you think a cash emergency fund or offset account for a mortgage is a substitute for the bond portion of a portfolio?-Matt
www.aussiefirebug.com/aff/In Today's episode we chat about:- Giving back to the community once you have achieved FIRE- Is the popularity of passive investing creating a bubble?- Sharing my experience of selling IP1 myself and would I do it again?Question (5:14)Hello,I saw this article pop up recently (link) from the co-author of Your Money or Your Life (a great read) and was wondering what your thoughts on this are.Have you considered or planned on finding ways to give back to your community once you achieve the RE part of FIRE?What would some of these ways be if you did?I know a lot of people talk about RE to have the time to spend on hobbies and family, but it's a rare thing to hear about giving our time to those around us and I think it'd be great to start that conversation in the FI community.-JacksonQuestion (16:52)Hi Firebug,Love the site and podcast. I am wondering if it concerns you how popular passive investing is becoming and the impact of large amounts of money flowing into companies somewhat blindly?BecQuestion (21:00)Hi Aussie Firebug,Thanks for the blog and podcast.Like you, we plan on transitioning from shares and real estate to all shares, EFT & LIC.To simplify things and increase income generation. We had planned on using one of the self listing options when selling our investment properties to avoid the agent's fees, so we were interested to hear that you had done this with the sales of IP1.Can you give us some details of the process and lessons learned? Will you do it again for IP2 and IP3?- Bradley
https://www.aussiefirebug.com/playing-with-fire-london-premiere/In today's episode, I'm speaking with two other Aussie’s (Tom and Ricky) who were with me at the premiere of the FIRE documentary ‘Playing with FIRE’ which follows 35 year old Scott Rickens, his wife Taylor, and their toddler Jovi as they embark on a year-long odyssey to understand the rules of this sub-culture and test their willingness to reject the standard narrative of adult life.I want to just congratulate Travis and the whole team who was involved in the creation of Playing with FIRE. The film is fantastic and I would recommend it to anyone as it’s a super interesting documentary starring so many of our favourite FIRE bloggers and surprisingly was very funny as well.Some of the topics we cover today include:The events that lead up to the PremiereOur initial thoughts after watching the filmThings we liked and things we wanted to see more of in the documentary Talked about how hard it must have been to fit an entire concept like FIRE within 90 minutes The Q&A session after the filmAnd pretty much everything else we ended up talking about!
https://www.aussiefirebug.com/the-escape-artist/Today I’m speaking to one of the most popular FIRE bloggers in the UK, Barney from The Escape Artist.Barney is a super interesting guy who is married with three kids, worked in Finance and managed to reach FI at the tender age of just 43. He could have done it much sooner too if he had discovered FIRE earlier in the piece which we get into in the pod.Since I’m now living in the UK, I was particularly interested in what the FIRE community is like here and if there are any major differences in approach. We also have chat about the film that could be a game changer for the entire FIRE community worldwide, that is, of course, the documentary ‘Playing with Fire’ which is premiering in London on the 12th of June! And yes I will be attending the premiere and would love to see some Aussie help me rep the FIRE community if you’re in the area.Some of the topics we cover today include:- Barney’s journey towards financial independence in the UK- What made him start The Escape Artist- How boredom can be the secret to creativity- Why FIRE seems to be more prevalent in the United States vs most other places in the world- The London premiere of ‘Playing with Fire’ which hopes to be a game changer for the FIRE communityAnd much more!
http://www.aussiefirebug.com/matched-betting-bonus-bank/My guest today is Nico who managed to create an online income stream through a technique called matched betting.But don't let the name fool you! Matched betting is not gambling but it takes advantage of the big signup bonuses amongst other things that the betting agencies used to lure people in. The closest thing I can compare it to is signing up for credit card point to use on flights but matched betting is a lot more lucrative and easier IMO.Nico runs Bonus Bank which is a website that helps Aussies with matched betting by finding the best opportunities out there. Make sure you stick around for the second half of the pod as Nico’s story about what life matched betting has enabled him to live is pretty cool and well worth a listen. So let’s jump into the world of matched betting.
www.aussiefirebug.com/my-mate-jimmyAussie Firebug has been discovered!Late last year I woke up to a message from someone who lived in the same town as me saying they knew I was the Aussie Firebug and that my secret was safe with them... I immediately jumped to the worse conclusion thinking maybe my boss had figured it all out 😱. But it ended up being my mate from high school who as it turned out, was just as crazy about all things personal finance and investing as I am!We've had countless chats at the pub multiple times about a whole bunch of stuff since that faithful message. Today's episode is two mates who went to high school together having a good old yarn about financial independence, investing, ETFs/LICs and much more.
If you're new to FIRE or aussiefirebug.com please start with this episode!
If you're a veteran you can probably skip this one. I unpack what FIRE is and clear up some common misconceptions. I also go into how Aussie Firebug got started and what's in store for the future!
https://www.aussiefirebug.com/what-is-retire-early-and-why-its-the-most-important-partWhy would anyone want to pull stumps at 30? Wouldn't you get bored? In today's episode, I set the record straight as to what retire early actually means in the context of FIRE and why it's more important than simply reaching financial independence!
https://www.aussiefirebug.com/podcast-nathan-birch/Are you ready to come down the rabbit hole? Investing in his first property at 18, and starting his first business shortly after, Nathan Birch was able to 'retire' at just 24. He has appeared on such programs as 7 news, Sunday Night and Triple J’s Hack and his story is so incredible it’s hard to believe! We delve into so much more than just investing today, Nathan has in his own words, some alternative views about the entire systems that we are born into and some really thought-provoking commentary in regards to money.We cover so many things in today's episode, and it was actually recorded in the middle of last year. I have been working through a backlog to get these episodes out to you guys but it’s just about finding the time. It’s a big one today so maybe grab a coffee, sit back and enjoy. Get excited to exit the Matrix and dive into the brilliant mind of Nathan Birch!
https://www.aussiefirebug.com/you-only-live-once/You Only Live Once!In today's episode, I chat about our decision to move overseas to pursue a bucket list item of ours.Yes, FIRE is important to us, but there are some opportunities that we can't let pass us by before we are 30. YOLO!
Huge Pod to start 2019!I have the man, the myth, the legend, Peter Thornhill himself. Author of bestseller Motivated Money, Peter is famous in the FIRE community for his teachings on dividend investing and why it’s the best strategy for Australians to retire comfortably. And for someone who is currently receiving over $400K a year in passive income via dividends… when he talks, we should listen!In today’s episode we chat about:– Peter’s background in investing– ETFs vs LICs– How Peter invests– Capital gains vs Dividends– International diversification– Labor removing the franking credit refund– Why Peter uses a financial advisor– Debt recyclingand much more
www.aussiefirebug.com/aff/In Today's episode we chat about:- When to prioritise paying off a mortgage- What Super fund I'm with- High growth vs DividendQuestion (3:52)Hello,I have found a lot of information in regards to paying off a mortgage vs investing. However, I cannot find much to match my circumstances and am hoping you could shed some light.I live with my father and have a very low cost of living. I have an investment property and also invest in Vanguard index funds.If I lived in my property I would prioritise investing in the equity funds over paying extra on the home loan. My question is would there be anything to think differently about if the property is being used to create income as an investment rather than a debt burden if I was living in it? Is there any reason to prioritise paying extra on the mortgage?Thank you,StevenQuestion (11:27)Hey,First of all, thanks for the great content!I wanted to know if you have any posts on super or any advice on what to do with your super account for early retirement? Do you have an SMSF or do you go through a specific super fund? Basically, I want to know what I can do to optimise my super. I live in QLD and I'm with Qsuper.Thanks,JackQuestion (15:20)Hi Aussie Firebug,Thanks for your Great work on the blog and podcast.I wanted to ask about your move to Strategy 3, I think I understand the logic behind it and what you’re looking to achieve.If I can play devil’s advocate, wouldn’t it make more sense to invest in higher growth indexes for now (e.g. US Markets/VTS has massively outperformed ASX/VAS/A200 over the last 10 years even allowing for dividends), as this would grow your net wealth and allow you to achieve FIRE earlier. After that, you could sell VTS/VGS, convert to dividend paying shares and LICs, and live off the passive income?Key point being, while you’re working and not reliant on the dividend income, growth stocks/Index funds would allow you to grow the pie larger and more quickly. Once it’s at a sufficient size where the equivalent value in Aus dividend stocks/index funds would pay enough passive income to live off you would sell and convert right?Cheers and thanks for your time.Rando
What do you use to track your portfolio's performance? Does your reporting software take into consideration things like franking credits, DRP and currency conversion?Today I have the pleasure of speaking to Doug Morris, the CEO of Sharesight, the best share portfolio tracker for Aussie investors. But Sharesight does a lot more than simply telling you the true performance of your portfolio. There’s a bunch of other useful tools and features available and some of which we are going to cover today.In today's episode we chat about:- How Sharesight can help show your true performance- Tax reports to making lodging your tax return a breeze- Historic share data to quickly see how a theoretical portfolio would have done in the previous decade or twoand much more
www.aussiefirebug.com/aff/In Today's episode we chat about:- Trying to get friends on board with investing- Labors plan to remove franking credit refund- Private healthQuestion (3:58)Hi,Have you had any success explaining investing to friends? I am 28 and have a number of friends who don't really invest at all, preferring to keep their money in the bank. I don't want them to miss out on all this good compounding but I can't sell investing to them.-LukeQuestion (10:33)Hey,Considering the market turbulence this week and the concerns around the possibility of a Labor Government win and removing Franking Credits refunds... Will your investing strategy remain the same for the next 12 months? Or are you planning on adapting to suit market conditions?Do you Dollar Cost Average or save up to buy in the market dips?Thanks,DanielQuestion (20:22)G'day AussieFire Bug,Been smashing your podcasts over the weekend and got through about 3/4 of them. They have been amazing.What are your thoughts on private health insurance? Do you find it worth it? I know it does reduce the Medicare levy by a little, but is it worth it?Thanks AussieFire Bug,Michael
www.aussiefirebug.com/aff/In Today's episode we chat about:- House deposit vs investing - Investing through trusts- ETFs vs LICs in market downturnsQuestion (3:00)Hi Firebug!Loving the content and hearing all the great questions from listeners on Friday’s, keep up the great work. I’m hoping to hear your opinion or what you would do in my shoes if possible :)My husband and I are 36 with a 2 &1/2-year-old and thinking about expanding our family because you know by this point sleep is a distant memory anyway!We’ve got a nice emergency fund, zero debt and have just started to invest in ETFs. Super is currently sitting at about $150k. Right now we’re really fortunate to have free housing but are keen to get into a place of our own as we can’t stay here forever.We keep going back and forth between what’s best to do which is where I’m curious to hear what you have to say.We’re currently saving towards a house deposit and looking to have about $100,000 saved before we buy in SA. Until we reach that goal in approx 2 years our plan was only to invest about $5k a year into ETFs. But we’re not sure if we should beef up that amount we’re investing instead of saving so aggressively for the house because we’ve had investing on pause for 2 years while we cleaned up debt and got an emergency fund together.One of the things that drives me nuts is the brokerage fee with such a small quarterly trade, but hey what can you do (I plan to get on to using self wealth this month!)What do you think you would do in our position, and why?-AmyQuestion (11:33)Hi Aussie Firebug,I just came across your blog as I was searching on how to buy Vanguard Index funds (VAS, VGS) Thank you so much for your blog, you made it very easy for me to understand.Just 2 quick questions:1) I am single, no kids or dependents. Would u recommend buying EFTs through a trust or just under my name? Is there any tax benefit when buying EFT'S thru trust in my situation?2) From what I've read on your blogs, VGS is domiciled in Australia so I don't have to pay taxes outside Australia. Is this correct? Based on your strategy, I might invest VAS 40% and VGS 60%Looking forward to hearing from you.Thanks a bunch!JonathanQuestion (20:07)Hey Aussie,I made an observation today which I thought was interesting. All the main indices were down (ASX200, All Ords, ASX200 Financials, ASX200 Materials, ASX200 Industrials) yet all the larger LICS I track were up (or in the case of AFIC, was flat).Thoughts on this?Regards,Michael
www.aussiefirebug.com/aff/Today's episode covers Trusts, property investing and ethical investing.Question (2:10)Hi AFB,Love the site and podcast!Quick question around Trusts. My understanding, which may be wrong, is that the costs to set up and manage one, out way the benefits unless you have a sizeable portfolio ~$500k+.I'm keen to buy some ETFs for the long term with a goal of having a portfolio in excess of $1.5mil however that likely won't be for ~15years. With that in mind should I buy now under my own name, or set up the trust with the future in mind even if the costs outway the benefits during the early stages?If tax bracket matters I'm in the 37c per $1 and also know the government are proposing changes to trusts and franking credits. How does that impact the decision?ThanksBillyBobQuestion (11:12)Hi AFB,Love your work and the podcasts.Like many of us, you started in property because of the high amount of leverage you can use. As your goals changed due to changes in lending and increased sharemarket knowledge you’ve mentioned divestment of your investment properties.1. What is your strategy for the divestment and what do you have as key considerations for this?2. If you had a PPOR and one property paid off and another 2 (duplex) well underway (7 years to go) would you simply stick with property as many of the entry costs have already been incurred?ThanksSeamusQuestion (18:30)Hello AFB!So Vanguard has a new ETF that has caught my eye... the VESG, apparently its ethically focused and doesn’t invest in stuff like weapons, tobacco and fossil fuel.I have had concerns from time to time about investing in products that I would otherwise avoid buying as a consumer but I had put that one on the self an gone down the VTS/VEU route anyway.Do ethics play into your investments strategies? How so? What do you think of the VESG as a core holding?Happy Monday!Thanks Kindly,Emma
www.aussiefirebug.com/aff/Question (2:19)Hi AFB,Wondering if you could explain your thoughts re: dividend approach to investing.My understanding is that when a dividend is paid to investors, the company’s assets are reduced by the same amount. This in turn reduces the share price by the same amount as the dividend.If this is correct, what is the value of focusing on dividends? The only logic I can see is that once one hits FIRE, they can receive an income without the need to sell shares. Seems ok, but not a particularly compelling reason to concentrate assets to a particular market - in this case, Australia.Love your website and podcast, and hope to hear your thoughts on this.Cheers,ClintonQuestion (11:34)Hi Aussie Firebug,I'm in my 30's, and I'm looking to begin investing my money for future long-term growth.I've read on the internet about 'ready-made portfolio's' (my super company BT offers this).Do you know how they differ from managed funds? Both appear to invest in assets like eft's, shares etc, but just a bit unsure how they differ.If you know of any information that you can share, please let me know.From Matt, an Aussie Firebug follower, and FIRE aspirant.Question (20:17)Hi AFB,Thanks for your informative blogs and podcast. I've been following you for a year now and you've been such an inspiration! Keep up your content!I've just recently purchased my first investment property and was just wondering although it's too late but what are some of the key points that you look for when purchasing a property and which suburbs are your properties located in?Thank you!Edmund
Have you ever heard of an investment/insurance bond?These investments, in my opinion, are the best way to invest for children (your own or others).But it doesn’t stop there. Investment bond can offer a legitimate tax effective alternative to the traditional ETF/LIC route that most Aussies adopt in the pursuit towards FIRE.There are a few specific rules that need to be followedIn today’s episode, I chat to Catherine Van Deer Veen who is the CEO of Generation Life, an Australian investment and insurance company that’s been around for 15 years currently managing 1.3 Billion dollars for investors.If you’re thinking about investing for your kids, neeses or nephews or are looking for a tax-efficient alternative investment product, this is the podcast for you!In this episode, we talk about:What exactly is an Investment BondWhat Generation Life can offer to investorsThe specific rules that you must follow in order to reap the full tax benefitsand much more
www.aussiefirebug.com/aff/Question (3:10)Hi AFB,First of all, love your work and Ask Firebug Fridays episodes. So thank you.I understand your stance on Super as you cannot access any of it until you're in your 60s, however as potential a first home buyer, I cannot help to consider First home super saver scheme where you can access up to 30k of the pre-tax (salary sacrificed) voluntary contributions you've made.To me, it sounds like a no brainier but please let me know if this sounds like a good deal from the Government from your end or if I am missing anything that may cause me to reconsider.Thanks,-DerekQuestion (8:54)Hey AFB,What is going on with the market atm? LICS and ETFs are way down, are you going to wait for them to drop more or buy now?AndeeQuestion (12:45)Hi Mate,Would love to get your thoughts on debt recycling. Feels like a faster way to get to FI by leveraging equity in a property, but I haven't heard you talk about it. Would love your thoughts.Keep up the good work my man. Loving it.Cheers,Ryan
www.aussiefirebug.com/aff/Question (2:48)What are your thoughts on being over-exposed to the Australian economy?It's something I'm grappling with in my portfolio allocation at the moment. So much of the ASX top companies are tied to the Australian housing market and economy - in fact, so much of our economy is tied to the housing market - any kind of pullback will not only affect house prices they will have wide-ranging implications on ASX200 / ASX300 companies, jobs, Government taxation receipts, everything! So this is what worries me.If we really do believe in diversification, then we should be diversifying across asset classes internationally, not within one very small economy. Diversification across direct property investment and buying an LIC or ETF that focus on Australian shares is not real diversification, given these assets are inextricably linked.Interested to hear your thoughts.-DetrimentalQuestion (13:00)Hi,When does purchasing your own house PPOR come into your future plans? Are you planning to move into one of your rentals? How would purchasing a house and potentially having kids affect your FIRE plans?TanyaQuestion (23:07)Hey Mate,I have been reading your blog. I see you mentioned to be wary of mining towns. I was considering investing in Gladstone since the property prices are rock bottom. However, I get mixed views from everyone I ask.What are your thoughts?Luke
www.aussiefirebug.com/aff/Question (5:37)Hi Aussie Firebug,Big fan of the podcast and blog. You're my favourite finance personality and I love following along each month and watching you get closer and closer to FIRE.Congratulations on selling your house! What do you plan to do with the funds now? Invest all at once or dollar cost average into the market?Thanks,RickQuestion (13:37)Hi Aussie Firebug,I just had a few quick questions:1) What is your FIRE goal/At what age are you hoping to retire, with what sort of income?2) How much do you currently work (at your 9-5) and are you planning to progressively cut back on work or straight retire?3) What is/was your salary at your 9-5?4) With the potential of a stock market/real estate crash, do you feel you will have to work a 9-5 during these tougher economic times?Once again, thank you so much for your generosity and sharing.Keep fighting the good fight.Take Care,TomQuestion (18:35)Hey Mate,I've been following your blog / Vlog / presence for 12 months now. I'm almost 23 and closer towards the start of my Journey (compared to yourself) however I'm a good saver and very frugal.I'd love to see you talk about a few things in particular.1. Your HECS Debt and what you did with it. (I'm in an industry that is performance-based and when I have a well performing month you really begin to feel the drag of a HECS debt). Would you suggest paying it off if you have sufficient funds to do so or let it run its course?2. Chasing the FHOG. If I was going to bother with it I'd wanna do regional as its 20k vs 10k. However, I don't really want to live in the property for 12 months. Moreover, the tradeoff in building in a regional area VS the appreciation had in an area maybe closer to Melbourne.I'd love to hear a little more about what you did towards the start of your Journey and any other obstacles you had to overcome etc.Regards,Jordan
All be finally be revealed after Investment Property 1 has officially been sold. So how much did we make? Why did we sell? All things covered in today's post https://wp.me/p5RUEb-6Cd
http://www.aussiefirebug.com/aff/Question (2:50)Hi,Just wondering what you have in mind for the structure if your portfolio once you reach FIRE? What do you think your asset allocation will look like, what percentage for defensive to preserve your hard earned and what percentage in growth to cover inflation and continue your income?What figure do you think you may want to keep in cash?Cheers,AlanQuestion (7:35)Hi AFBThanks for a great blog. It is really easy to read and understand.Obviously, your focus is on investing, but I was wondering if you could offer some insights into the other side of the coin and let us know ways you save money in your household. The everyday things like shopping at Aldi, rewards programs, etc (or however you do it).Thanks heaps!PamQuestion (26:09)Dear AFB,You continue to push out such great content.Two questions:May I ask your reasoning in buying MLT, as opposed to AFI which is currently trading a discount? I currently only hold VGS (started very recently) and am looking to buy my first LIC. My eventual portfolio is hopefully VGS (20%) AFI (40%) and A200 (40%).If you have an inkling the US stockmarkets bull run has got to eventually come to an end (2 yrs, 5 yrs, who knows), what would your plan be? I know its stay the course, dollar cost average, buy more during a crash, but would it make more sense to buy Australian shares now, then during US crash pump more money then?Thank you!H
AFFhttp://www.aussiefirebug.com/ask-firebug-fridays-9/Question 1 (5:28)Hey Firebug,You've factored in the costs of owning and paying off a house in your investment strategy, but it seems all your income is in the stock market, and unless I'm mistaken, you're renting right now.When the time comes, how are you going to fund your house deposit? Are you going to save money towards a deposit in the first couple years, sit on it, and invest the surplus into stocks (effectively starting your retirement clock after the deposit is saved)?Are you going to reach your FI number and then save for a deposit? Drawdown from your stock portfolio?What would you recommend? I'm starting my FI journey and am in the exact same position.Thanks for all the content!LukeQuestion 2 (13:45)Hi Aussie Firebug,Loving the new podcast! :)What do you think about this whole idea of a "retirement number". Have you tried to calculate what number you need to hit before you feel comfortable with retiring? And once you do, do you think you will right away? Or do you think you would be inclined to work a few more years to increase that safety margin? Maybe even think "hey with a bigger asset base I can take on some luxuries down the road if I want to"?The reason I ask is I've been reading about this on the blogosphere and I can estimate my living expenses and how much I could live on, but if I picture myself today holding that bag of money I think I would be anxious to pull the plug like that. I wonder "hey what if a medical emergency came up and I needed to shell out 20k for a surgery?". Or some other unforeseen major expense came up... say a family member needed my financial support?What do you think?LanceQuestion 3(25:13)Hi,Loving the Friday questions.Often mentioned how important buying below the NTA, however many of the good performing LICs such as WAM are often at a premium and many which are at a discount are permanently under the NTA, so can’t see the benefit of buying at a discount if it’s permanently at a discount?Would love to hear your thoughts on this?ThanksDavid
The great Australian FIRE debate! ETFs vs LICs. Which one reins supreme? I also talk about stratgey three more and why we have moved to a dividend focussed portolfio.
Our investing strategy explained. This post goes into detail about how we are going to reach FIRE using the investment strategy we have. I detail the nitty gritty of exactly how we will create a passive income stream and also how we have evolved over the years as investors.Read the full post here http://www.aussiefirebug.com/our-investing-strategy-explained/
Our guest today is Dave AKA Strong Money Australia. Dave reached financial independence at the ripe old age of just 28. Dave is originally from country Victoria but moved to Western Australia at 18 to take advantage of the mining boom. Roughly 2 years into a job, Dave got a new boss and suddenly going to work each day was a struggle. He discovered investing and financial Independence shortly after and after 8 more years of work, 8 investment properties and a lot a stocks later, discovered that he had reached financial independence.We chat about Dave's early years at work, questioning the 9-5 day grind for the next 50 years, investing and much more.In this episode, we talk about:- Daves struggles with work early on- Questioning everything- Transitioning from property investing to shares- Dividend growth investing- Listed investment companies (LIC's)- and much more
Our guest today is Ilan Israelstam, co-founder of Australian investment company BetaShares. You may have heard of BetaShares as one of the leading managers of ETFs with over 44 ETF products for investors to invest in and managing more than 5.4 billion dollars of assets. One of the most talked about ETFs in 2018 has been the soon to be released A200 ETF from BetaShares which boasts an incredible MER of 0.07%. This ETF covers the top 200 companies in the Australian market and will become the lowest management fee of any Australian ETF ever!In this episode, we talk about:- BetaShares- The new A200 ETF- Ethical ETFs - The role active management plays in investing and much more.
Our guest today is Tim Sparks, Senior Key Account Manager, at Vanguard. Tim has more than 15 years’ experience in the financial services industry and joined Vanguard in 2013.In this episode, we unpack one of the most famous investing companies in the world. Vanguard.We go into who Vanguards is and what they can offer investors. Explain Some of the key investing philosophies AND We chat about the 4 new diversified ETFs that Vanguard released in Nov 2017 and why they are such a big deal for anyone wanting to reach financial independence.In this episode, we talk about:- What Vanguard is- Vanguard investing philosophies- What happens if Vanguard goes bust?- How to invest with Vanguard- Vanguard diversified index ETFs
Our guest today is 34 year old parent of 3 Nick from toowoomba queensland who describes himself as the most bland and generic person who has ever been on the podcast. Nick reached out to me just over 12 months ago detailing some of the things he was struggling with while trying to reaching financial independence. The email was very genuine and sincere and a good amount of people would struggle with the exact things Nick mentions. I spent a good hour or so responding to all his points and what I thought was a pretty decent motivational reply email. I didn't hear back from Nick until another 12 months. But I was very glad to read about all the progress he had made since sending the original email. I often interview people who are either running a business or are doing insanely well for their age. Nick come up with the idea of having himself on the show to give you guys out there some perspective from a self proclaimed average Joe.
Our guest today is Andrew Ward, the founder and managing director of online investing tool Self Wealth. Andrew is a former Executive Manager at Commonwealth Bank who has held many other high positions throughout his 20 years in the finance sector. Andrew seen an opportunity in the market for an online community for investors, but after failing to get through the red tape that comes with working in a large organisation, decided to start up his own company.
Our guest today is Serina Huang or better know as, Ms Furgal Ears. Serina works as a public servant but is also a writer, blogger, and foodie. A self proclaimed frugalista, Serina lives with her two sons in Canberra and has appeared in such publications as the RIOT ACT and the Canberra Times. She is currently wiritng a book about becoming a frugal multi millionaire and one day hopes to be a billionaire! In this episode, we talk about:Serina upbringing and working as an expat in TaiwanManaging 10 investment properties during a downturnThe importance of having your finances sorted especially if you go through a divorceStriking a balance between enjoying life and being frugalLiving off $50 a week for food, groceries, and toiletries
Our guest today is Pat from life long shuffle.com. Pat’s a 29 year old construction engineer working in Sydney who is planning to retire early within 10 years. Having amassed a net worth of over quarter of a million already, he is well on his way.In this episode, we talk about: Investing! And in particular franking credits and why Pat is such a fanExtra Super contributions? Should you be adding more to your Super each year?Buying a house in SydneyExplaining FIRE to normal peopleReaching FIRE with a partner
Our guest today is Jayden Vecchio, a director, and co-founder for Red and Co who was awarded the 2016 FBAA Commercial Mortgage Broker of the Year award. You may know Jayden better as the co-host for the very successful 'Rentvesting Podcast' aimed at Gen X and Y Property Investors.In this episode, we talk about Jaydens path to success coming into the finance world when the GFC hit in 2009 and the devastation that caused the finance sector in Sydney. We also chat about his journey with property investing, moving cities, starting a company as well as a podcast and many more things.
Is there a more hotly debated topic among avid investors than property vs shares? Owning 3 investment properties and nearly $90K worth of ETFs over the last 5 years. I feel like I have experienced some of the best and worst of each asset class.This article details the pros and cons of the two, and ultimately which one is suited better for specific investing styles.
A big part of the journey towards financial independence is finding a partner along the way who has the same goals and aspirations as you do towards your finances. It's more common to find a partner who has no idea that financial independence even exists! I invited Mrs Firebug on the podcast today to chat about what it's like on the other side of the relationship and dealing with someone who is obsessed with reaching financial independence.
Steve Ryan, a 31 year old property investor who at age 29 became the 2015 'Your Investment Property Magazine' Investor of the year. Steven has been featured on such programs as ABC's 7:30, Property Investor Magazine, Real Estate Talk and many more. His net worth is well into 7 figures and has reached financial independence but does not plan to stop working anytime soon.
Chris is a 29 year old millennial from north east Victoria who owns a net worth of over $300K! Mainly invested in Vanguard managed funds, Chris also has a side business programming clocks and renting out his spare room through Air BnB. Tune in to hear about how he amassed this fortune at such a young age and how he plans to hit FIRE by 41.
Peer to peer (P2P) lending matches people who have money to invest with people who are looking for a loan. A relatively new service that follows a similar business model of other P2P services such as Airbnb and Uber. I invited Chris onto the podcast today to share his two years of experience with Australian based P2P lending services.Some of the topics we cover in today's show: How P2P lending works What returns has Chris been getting over the last two years The differences in platforms available Chris's overall experience with P2P lending and his advice to anyone who is considering investingArticle Link: http://www.aussiefirebug.com/p2p-lending/
What is Renting? What a horrible mash-up of words. Rentvesting? Rent-Investing? Rentvestor?Yuck!While the term itself doesn't sit well with me, the underlying principles defiantly do and I think a ton of millennials could benefit from it, so listen up muchacho's!... http://www.aussiefirebug.com/rentvesting/
I invite the founder and CEO of the Australian robo-advising company Stockspot to chat about entrepreneurship, investing and how traditional fund managers are ripping you off! Chris Brycki holds a Bachelor of Commerce, was the national winner of the ASX Schools Share Game three years in row, a highly experienced trader spending most of his career as a Portfolio Manager at UBS investing the banks’ capital and more recently an entrepreneur, founding his own company Stockspot. Show NotesWhat is a Robo-advisor?StockspotFat Cat Funds Report
Summary Our guest today bought his first shares of News Corp at 12 years of age. Realising later in life that money through investing and business ventures would be his escape from conservative country living in rural NSW. Investment properties in Australia and the US along with his own company are propelling Detrimental12 to reach financial independence in his early 30's! With a net worth of over $800K he is well on his way. Show Notes Financial Independence Australia Subreddit Detrimental's Blog about US Real Estate for Aussie's When Koalas attack!
SummaryI have been following today's guest for a few years now. He is one of my favourite FI bloggers and has recently hit financial independence in his mid thirties.The Mad Fientist analyses the tax code and looks at personal finance through the lens of early financial independence, he develops strategies and tactics to help you retire even earlier.Most personal finance advice is geared towards people retiring in their 60s or later and doesn’t apply to those pursuing early financial independence. The Mad Fientist focuses on providing advice and innovative tax-avoidance methods specifically for people wanting to break away from full-time employment very early in life.You can check out his site here but be warned, a lot of the information is geared towards the US system. But not all is lost, there is also countless information that can be transferred to an Australian striving for FI so I would defiantly check it out.One of his best resources is his podcasts which can be found here. I have listened to all of them and they are fantastic! A big reason that I started to podcast was because of how much quality info I was able to get out of the Mad Fientist's podcasts.Show NotesWhat is negative gearing?www.madfientist.comMad Fientist PodcastsPickle with more fans than Nickleback (the Facebook group has since been deletec)
In this episode I chat to Ben Everingham who was able to retire from full time work at the age of 29. Ben knew he was not wired the same as everyone else when he started working full time and quickly discovered that the 'normal' working life was never going to make him happy. After a Euro trip at 19 and finishing Uni, Ben was able to land a great job in Sydney earning over 6 figures. Most would think that they have it made with a great job straight out of Uni but after working a while Ben knew that this job was never going to satisfy him long term and whilst the money was great, he was miserable.After reading Rich Dad Poor Dad, Ben's eyes had been opened up to the possibility of investing and business ownership. Eager to get started, Ben was able to purchase 6 properties within 4 years and started his own business, thus achieving his goal of quitting full time work before the age of thirty...