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Welcome to another edition of #AusFIWeekly. It’s Michelle here from FrugalityandFreedom.com, bringing you this regular selection of great financial independence links, news, and events from Australia and beyond.
With January now at an end, read what your fellow Australian FI enthusiasts shared as their month’s highlights – such as electric bike commute-hacking, retirement-proofing home renos, and launching a new Aussie podcast.
Look for the call out mid-month to submit your February news for inclusion! Now, on to this week’s links…
Australian Links
Can You Achieve Financial Independence on a Low Income? – Strong Money Australia
“A common assumption among the population, even among those aiming to retire early, is that you can’t build wealth and reach Financial Independence on a low income… Is this actually true though? In my view, no! It’s complete rubbish! And today, I’ll share my thoughts with you on why that is.”
Is investing really as simple as I say? – Lifelong Shuffle
“I invest in Index Funds because ALL of the academic research demonstrates that they reliably and consistently provide the highest investment returns, year after year and decade after decade for as long as we have been measuring this stuff. The fact that they are simple and low fee is just icing on the cake.”
The uncomfortable truth about super: there’s no ‘one-size-fits-all’ contribution – The Conversation
“Depending on income and other assumptions, the right amount of super contributions can be anywhere between about 3% up to 20%, although the higher levels typically assume away the age pension.”
Why do you think $40k isn’t enough? – FIRE by Thirty-Five
“One ongoing comment that I want to address has been a bane of the FIRE community for years. ‘Hope he likes eating two minute noodles, because no one can live on $40k a year.’ What is it with everyone outside the FIRE community trying to tell us we don’t know what our own budgets are?”
Australian Events
Brisbane: Mustachians Australia – North Brisbane Mustachian Picnic – Sun 9 Feb 1pm, Alderley
Melbourne: Ladies on F.I.R.E. meetup – Your Pathway to Wealth in 2020 – Tue 18 Feb 6.30pm, Richmond
International Links
You’ve saved up for early retirement. Can you help to save the world? – Tanja Hester, Market Watch (US)
“Getting to that level of wealth — what I call achieving a work-optional life — generally takes focus and patience, and years of tracking your investments and savings, a process that can be fun and rewarding as you watch your numbers grow. But achieving financial security or independence does more than help you sleep well at night: it also gives you enormous power to do good and help others.”
Getting to ‘Good Enough’ – The Deep Dish (NZ)
“Every time I’ve achieved something in the past, I celebrate for about three milliseconds and then immediately re-orient to the next goal. I notice that this also happens to people vastly more successful than me. But yeah, that next thing—when I publish my book, or notch up 10,000 subscribers—see, that’s going to change everything. This time is different!… Now we are embarking on a kind of Reverse Life Coaching: a shared ambition to become less ambitious.”
The Case for Doing Nothing – NY Times (US)
“There’s a way out of that madness, and it’s not more mindfulness, exercise or a healthy diet (though these things are all still important). What we’re talking about is … doing nothing. Or, as the Dutch call it, niksen.”
Explore or Exploit: The Hidden Decision that Guides Your Life – Scott Young (Canada)
“What to eat at a restaurant is a simple decision, but it embodies one of the most common types of decisions you make in your life every day: explore or exploit… When you go to the restaurant you always have a choice: should you eat something you know is pretty good (exploit), or try something else which might be even better (explore)?… So if explore/exploit problems are super common, yet a general solution is unknown, how do we do it?”
Congrats again to all those who shared last month’s positive steps forward on their paths to financial independence.
Do you fancy yourself as a guest curator for #AusFIWeekly? Got some other Australian events or favourite blogs to include? Get in touch.
Yours in pursuit of FI,
Michelle @ Frugality and Freedom
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