FIRE – Retire early in 3 easy steps!
Family On Fire
by Family On FIRE
4M ago
The BORING way to FIRE! Warning – this is not a popular choice! We see people ask on FIRE groups and have friends and collegues ask about how to get ahead financially? We sometimes explain in high level terms how we reached FI. This is often returned with incredulous looks and we are often told, “Things were different back then”. We were told that too when we first started. We hit FI on pretty much a single income which has never been in the top tax bracket, so it is possible. So, how did we do it? We mapped out our 2 buckets of investments required – Before and after 60 (Super access age ..read more
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Manifesting FIRE Goals – Retire Early
Family On Fire
by Family On FIRE
11M ago
Who has ever set a goal and exactly hit the target despite not fully believing you could get there? We have a crazy testimony of doing this while camping at our favourite coastal spot in December 2010 and manifesting our dream holiday home nearby. Family On FIRE enjoying our holiday home in December 2018   We had paid off our PPOR (Home loan) and could really hit our straps to save for our holiday home. We looked back over the previous year of spending and forecast what we could save per month without a mortgage. Every so often we would add in the actual savings amount as can be seen in ..read more
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Another 21% pa return over the last 4 years!
Family On Fire
by Family On FIRE
1y ago
21% p.a. Average Net Worth Increase Over the Last 4 Years! We were just checking our share portfolio and realised today we had exactly 15.00% return for the last 12 months! Don’t you love it when you find a nice round number? Maybe just me – haha. Like when you glance down at the odometer reading and it’s turning over to another 1000 – I somehow feel lucky!  Upon some other checks we found our: Net Worth up 21% p.a in the last 4 years! I forgot how up and down it was! Looking back in 12 month blocks: Jul20 = -1% Jul21 = +53% Jul22 = +5% Jul23 = +32% So if I was a fund manager I woul ..read more
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10 Side Hustle Ideas to Help You Reach FIRE Faster
Family On Fire
by Family On FIRE
1y ago
Blog by Trish When aiming for FIRE (Financial Independence / Retire Early) it is important to spend less than you earn and save/invest the rest. If you are like us and wish to speed up your FIRE journey (yes, we are an impatient family!), it is ideal to find ways to increase your income so that you can achieve financial independence sooner, or even just contribute more to your “Fat FIRE” long-term lifestyle. There are many ways to increase your income – for example: you can work hard in the workplace to be promoted to a higher paying role or as a family, both partners can choose to work full ..read more
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FIRE Investing – Family on FIRE 1/3 Rule
Family On Fire
by Family On FIRE
1y ago
Written by Cam How to start your snowball of passive income Ok you have heard about the FIRE movement and want to start making your passive income stream, right?! Sitting back living off the growing rental/dividend stream without eating into the capital is the aim. However, buying shares can be daunting or don’t know where to start investing at all. Most people avoid it until it’s too late or they get burnt and don’t touch it again! We will share with our readers the simple Family on FIRE 1/3 Rule. Share Investing – Awful Advice Everyone Gives Taking a friend’s ‘hot tip’ to buy a single, non ..read more
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SOLD for FIRE
Family On Fire
by Family On FIRE
1y ago
Written by Cam We SOLD our home! We did it! Sold our PPOR (Principle Place Of Residence), our first home and our family home for the last 19 years. As some of our readers will know it has been part of our FIRE MAGIC strategy. We will be renting close to our kids school for the next seven years.  Our new rental is a house share Our friends have gone overseas for seven years and we are house sharing with their son who is finishing off studying. Our friends will also come back several times a year to visit their family and stay in one wing of the house with its’ own kitchenette. Oh, did we ..read more
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Letter to our younger Family On FIRE selves
Family On Fire
by Family On FIRE
1y ago
Dear Family On Fire – Cam & Trish, Letter Date – circa mid 2000s Congratulations on starting your FIRE journey. The early steps in the right direction can earn you literally millions of dollars without any extra effort. Your first million dollars will take a long time to achieve and will feel very slow, but the next million will only take half that time and the next a 1/3 of that. We would suggest you model out your strategy and seek advise only from people who are where you want to be. Our letter to you is a one time only event and after this we will leave it with you. Congratulations on ..read more
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Women punching above their Super weight
Family On Fire
by Family On FIRE
1y ago
Trish has been at home looking after our 3 kids for the last 17 years (done an amazing job) but also has run a small at-home business. Many of the early years her income was well below $18k so we didn’t see the value putting in superannuation concessional contributions (no tax savings). However we always took advantage of the super co-contribution scheme where the Government give you an additional 50% of what you put in. How could we resist making 50% return in one year!   Our FIRE strategy has given us the problem of a growing dividend stream ! We now have the opportunity to&nbs ..read more
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Celebrating 21% pa returns over the last 3 years!
Family On Fire
by Family On FIRE
1y ago
21% p.a. average returns since in the last 3 years!     Sometimes investing feels slow and boring and most of the time it is. However it’s important to stick to the plan and keep going and celebrate the progress along the way. Our Share Investing Portfolio is currently Australian LICs + (Global ETF ex Australia) and has returned a massive 21.5% pa over the last three years! Yah! No doubt we are entering into the frothy area of the market but hey, why not look at the view when approaching the top as there were some tough bits of the climb along the way. And sure, there will be ..read more
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FIRE Magic – Family On FIRE strategy
Family On Fire
by Family On FIRE
1y ago
Family On Fire – FIRE Magic – by Cam & Trish (but Trish’s Idea!) It’s funny how life can throw a curveball at you. Sometimes it’s a great thing and can help shake up your thinking and plans.  Recently, an opportunity to rent a friend’s property which is close to our kid’s private high school recently popped up while we were considering selling our house and moving closer to their school next year (our youngest starts at the high school next year).  This got us thinking!   We spoke about so many scenarios – i.e, keeping our current house and renting it out, selling our ..read more
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