Aussie Firebug

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)LinksBlog 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)LinksWebsite – FI Freedom Retreatswww.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)LinksWebsite - Ana KresinaBook - Kids Ain't CheapPodcast - Get Rich Slow Clubwww.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.LinksPodcast - 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)LinksWebsite - Captain FIwww.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)LinksWebsite - McMillanswww.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)LinksWebsite - 1500 Days to Freedomwww.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 (00:02:16)How Tony learned about money management as a child (00:13:08)Leaving school at 15 to help contribute to the family farm (00:19:26)Life lessons learnt from Tony's immigrant parents (00:23:29)Comparing the housing market in 2023 to the 1970s (00:29:13)Learning about property investing (00:35:44)Stock market investing (00:48:15)Tony's essential life lessons (00:53:47)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 originally made a connection (00:02:00)Property investing guidelines and regulations (00:12:37)Their investing strategy/philosophy (00:23:25)The Australian housing and rental crisis (00:48:56)Active property investing vs passive share market investing (00:37:03)Are property investors adding to affordability issues or are they being used as political scapegoats? (00:56:45)How The Property Couch podcast got started (01:20:33)LinksWebsite - The Property CouchEpisode 446 | Property Spruikers Exposedwww.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)LinksWebsite - www.tonilindsay.com.auBook - The Certainty Mythwww.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)LinksCameron Murray - SubstackCameron Murray - TwitterCameron Murray - FacebookScott Phillips - TwitterScott Phillips - Facebookwww.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)LinksCameron Murray - SubstackCameron Murray - TwitterCameron Murray - FacebookScott Phillips - TwitterScott Phillips - Facebookwww.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)LinksWebsite - Invest with QueenieYouTube - Invest with QueenieInstagram - Invest with QueenieTikTok - Invest with Queeniewww.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)LinksWebsite - Mad FientistSpotify - 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)LinksWebsite - FrugalwoodsBook - Meet the Frugalwoods: Achieving Financial Independence Through Simple LivingFinancial consultation services with Liz Thameswww.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)LinksWebsite - Jet ChargeWebsite - Electric Vehicle Councilwww.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)LinksWebsite - Rethink InvestingBook - Rethink Property InvestingPodcast - Scott O'Neill - Self-made $300K in passive income by 28. Marketing BS or the real deal?Podcast - Inside Commercial Propertywww.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)LinksWebsite - www.jeffspeck.comTED - Jeff Speck: The Walkable CityBook - WALKABLE CITY: How Downtown Can Save America, One Step at a Timewww.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)LinksWebsite - How To MoneyWebsite - Rask AustraliaRask Investing & Finance Courseswww.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)LinksWebsite - Strong Money Australiawww.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)LinksBook - From 0 to 130 Properties in 3.5 YearsWebsite - Property InvestingWebsite - Money MagnetWebsite - Tree Changewww.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)LinksWebsite - Braaap MotorcyclesThe Woke Salaryman - Stop blaming the poor for being poorBook - The Ultimate Sales Machine: Chet HolmesLinkedin - Brad Smith Braaapwww.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)LinksWebsite - Fresh Economic ThinkingReport - Scrap SuperannuationBook - Game Of Mates: How favours bleed the nationTwitter - @DrCameronMurraySubstack - Fresh Economic Thinkingwww.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)LinksWebsite - www.noelwhittaker.com.auBook - Making Money Made SimpleBook - Retirement Made Simplewww.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)LinksWebsite - Rethink Investingwww.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)LinksWebsite - timforcey.com.auFacebook group - My Efficient Electric Home (MEEH)YouTube Channel - RenewYouTube - Heat Pumps - Part 1 - Hot WaterYouTube - Heat Pumps - Part 2 - Space Heatingwww.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 schoolmate Jeremy 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)LinksWebsite - Small GiantsBook - The Second Mountain: The Quest for a Moral Life - David Brookswww.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)LinksPodcast - 46. Terry Waugh - StructuringWebsite - Structuring Lawyers Pty LtdPodcast - The Structuring PodcastFacebook - Aussie FIRE Discussion GroupForum - Property Chatwww.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)LinksWebsite - PIFA (Profession of Independent Financial Advisers)Website - Construct Wealth - Independent Financial AdvicePodcast - Are Financial Planners Worth the Money? feat. Paul Bensonwww.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 known within the FIRE community for his award-winning book, The Rational Optimist, 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)LinksBook – The Rational OptimistTED Talk – When Ideas Have SexAnimated version of essay – I, Pencil – Leonard E. ReadBook – Viral: The Search for the Origin of COVID-19Website – mattridley.co.ukwww.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)LinksGood 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)LinksDebt Recycling articleTax Tip 2: Debt RecyclingUsing AMP's Master Facility to Debt RecycleTax Tip 13: Simple Loan Structuring StrategyIncorporating a Trust into a Strategy Recycling DebtStructuring Lawyers Pty LtdThe Structuring Podcastwww.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)LinksNotCentralisedAustralian DeFi AssociationTradeFlowsETFtrackerNew Era Analyticswww.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)LinksBook - Die with Zero: Getting All You Can from Your Money and Your LifeWebsite - Die with Zerowww.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)Linkspodcast - Episode 7. Mrs Firebugwww.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)Linkspodcast - Vijay Boyapati - The Bullish Case for Bitcoin podcast - Decoding Cryptowww.aussiefirebug.com/we-bought-bitcoin

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) Linkspodcast - My Millennial Propertywebsite - Solvere Wealthwww.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 - Structuringpodcast - The Structuring Podcastwebsite - Structuringwebsite - terryw.com.auwww.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)Linkswebsite Cashflow Copodcast Passive Income Projectpodcast Paul Benson - Are Financial Planners worth the money?podcast Decoding Cryptowww.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)LinksJ. MONEY websiteTwitter @BudgetsAreSexyBudgets Are Sexy websiteJL Collins Stock Serieswww.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)LinksBlog - The Happy SaverPodcast - The Happy Saverwww.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)LinksThe Motley Fool AustraliaScott's investment holdingswww.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!1. The ultimate goal is to be happy. Never lose sight of this (03:50)2. Find your why of FI (07:18)3. Master behaviours, not spreadsheets (08:43)4. Getting wealthy is simple. Don't overthink it (14:38)5. What's measured is managed (19:07)6. Income potential is often overlooked (23:43)7. Compound interest takes years to notice (30:26)8. Most people are really after semi-retirement (35:58)9. Find your ‘enough' (41:59)10. We're all dealt a different hand in the game of life (47:02)www.aussiefirebug.com/10-lessons-ive-learned-from-10-years-pursuing-financial-independence

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)LinksWebsite - Effective Altruism AustraliaWebsite - Giving What We CanLinkedIn post - Eating Less Than $2 / Daywww.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)LinksWebsite - Who Moved My GoalpostsWebsite - QARC - Queensland Aphasia Research Centrewww.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)LinksArticle - The Bullish Case for BitcoinBook - The Bullish Case for Bitcoinwww.aussiefirebug.com/podcast

Today I'm joined by an Aussie FIRE favourite - Tina from MoneyFlamingo.comThe 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)LinksArticle - VDHG or Roll Your OwnArticle - Meet Bob The Worlds Worst Market TimerWebsite - Money Flamingowww.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)LinksArticle - ABC Everyday - Chi Lamwww.aussiefirebug.com/podcast