Chasing Fire Down Under Blog
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This is a blog about my journey towards financial independence/retiring early in Australia, with the aim of continuing to earn a high passive income after attaining FIRE. Many blogs in this sphere are focussed on financial independence through extreme savings and a fairly lean income at retirement and are often directed towards those with a low to average income during working life.
Chasing Fire Down Under Blog
1w ago
Today I went back and looked at my electricity bills over the last few years, and I really am impressed by the savings from our solar system! We were lucky enough to already have panels installed when we purchased our property, so no initial outlay for the installation (though of course, it would have factored ..read more
Chasing Fire Down Under Blog
2w ago
OK, so after my last post I really started to talk myself out of paying off my mortgage quickly. So I decided to sit down (for several hours!) with an excel spreadsheet and actually run the numbers. All the figures have been adjusted for an inflation rate of 3%, with a real return of 6 ..read more
Chasing Fire Down Under Blog
2w ago
Disclaimer: This post is NOT financial advice or a recommendation about what you should be doing – merely an exploration of my thoughts on the topic. Does it make more sense to focus on paying off my mortgage(s) quickly, or to invest that money instead? Or is it best to do a bit of both ..read more
Chasing Fire Down Under Blog
3w ago
Having bought a new car, for quite a hefty price tag, I am determined to earn back the value of the car over it’s lifetime! Since it was an EV, and I am able to claim part of my expenses as a tax deduction, I’m hoping that I will be able to recoup my upfront ..read more
Chasing Fire Down Under Blog
3w ago
It sounds obvious right? Pay in cash outright, or if absolutely necessary, pay using a loan at the lowest possible interest rate. However, it’s not that simple. A higher interest rate over a shorter term could actually result in less interest paid than a lower interest over a longer term. Let’s take my own recent ..read more
Chasing Fire Down Under Blog
3w ago
February net worth update! Some big changes over the past few months. As you can see, the cash buffer in my net worth is currently non existent. Why? I just bought a new car! I am not counting that car in my net worth given how quickly they depreciate, hence a sharp drop in my ..read more
Chasing Fire Down Under Blog
1M ago
There are many tax advantages for people that have achieved FIRE and living off an investment portfolio, rather than employment income. Time to revisit my figures yet again! Some of the tax advantages that currently exist for investment income include – Tax deductibility of outgoings for investment properties – Tax-free withdrawal from superannuation after preservation ..read more
Chasing Fire Down Under Blog
1M ago
As I was updating my FIRE target for inflation this year, I realised that I hadn’t reviewed my FIRE goal since meeting my partner. Joining our finances affects both our expected expenses, as well as the taxation of our income in retirement. If I take my original target of $70,000 after tax or $92,000 pre-tax ..read more
Chasing Fire Down Under Blog
2M ago
This year was not good for property. Interest rates continue to a pain, and the value of my investment property also suffered. Warning: there is maths ahead! Initial value: 430,000Stamp duty: 23,000Settlement fees: 2,400Current value: 587,000Growth: 131,600 — or 29% over 6 years, an average of 4.8% per year But wait! There are other factors ..read more
Chasing Fire Down Under Blog
2M ago
Another year, another set of goals! Hopefully this year is more successful than the last! Non-financial Goals Financial Goals ..read more