Subscribe to the email list and join other savvy readers to get this first each Monday!
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.
Here we are in April already! Yesterday, I finally came out of my required 14 days of self-isolation after returning to Australia from New Zealand. Like everyone, I’m adjusting to this new environment and have written a reflection here. For lighter entertainment, see my 14 day Instagram story featuring ‘Room Service By Mum’!
It’s time for another guest curator to join us for Australian FI Weekly. Every second week, I welcome a member of our local FI community to select some favourite financial independence links (archives here). Say hello to Money Flamingo!
Hi everyone! I’m Tina from Money Flamingo. On our blog, my husband and I share our journey to freedom in 1000 days. We have a 1-year-old and live in Sydney. Our posts focus on alternative FI strategies like semi-retirement, Coast FI and our own approach to FIRE – Flamingo FI.
Obviously, we are going through some tough times at the moment. I hope everyone is staying safe and healthy. As scary as the situation is health-wise, the last thing we should be worrying about is our portfolios. The FI community is probably one of the best-prepared groups to get through the financial impacts of this crisis. The message is clear: Stay the course and don’t panic!
For today’s Australian FI Weekly, I’ve selected some reassuring articles that will hopefully help everyone keep a cool head over the next few months. Stay calm and stay home! We can do this!
www.moneyflamingo.com
Twitter @moneyflamingo
Facebook @moneyflamingo
Australian Links
Podcast: Coronavirus Market Crash with Peter Thornhill – Aussie Firebug
“There’s a whole bunch of fear and uncertainty going around within the FIRE community right now. A lot of younger investors, myself included, have never invested through a bear market before. I thought it would be helpful to hear from someone who has seen a thing or two in the investing world and be the voice of reason during these turbulent times. I chat with Peter Thornhill about the current market crash and if this is any different to previous bear markets.”
COVID-19 Survival Plan: FIRE edition – A Family On FIRE
“Having a plan at least means that when things go from pudding to poop real quick, you won’t be stuck thinking of what to do next – because you already know what your next step will be.”
What To Do When You’re Terrified – Barefoot Investor
“Make no mistake: these last few weeks will go down in history. Our grandkids will look back on this period of market madness — where people were tasered for toilet paper and the markets lost a quarter of their value in three weeks… Let’s instead focus on some things you can control.”
That Market Timing Post – Strong Money Australia
“During the general craze and hysteria of the current market downturn, it appears that all of the market timers have come out to play. They are throwing around all sorts of claims, smugly suggesting that they possessed the ability to foresee this market crash and have successfully avoided it… Well it is time to deliver a cold hard dose of reality, supported by research and facts to counter this nonsense.”
International Links
Coronavirus Market Crash – Is This Time Different? – JL Collins on Mad Fientist’s podcast (US)
“By definition, every time there’s a bear market or a market crash, it’s something that feels different, feels scary, and feels like it’s never going to end. But it will.”
The Inestimable Advantages of Having a Plan – Escape Artist (UK)
“There’s nothing quite like a pandemic or a zombie apocalypse to focus the mind and bring perspective to our first world problems. And tough times have the potential to bring out the best in people… The COVID-19 crisis has however reminded us of the importance of digging a well before you are thirsty. It’s been the ultimate reminder of the need for a cash emergency fund. The crisis also shows the benefits of having a plan.”
FI, FIRE and Covid-19; Are We Better Set For This Virus? – Vicki Robin, Your Money Or Your Life (US)
“I personally feel so blessed that I am both financially independent and retired. Financial independence to me means freedom of the mind, not as caught up as most other people in fads, fears and financial stresses… I wake up every morning asking, “What can I do for others to ease their material or psychological pain as Covid-19 upends our lives?” and “How can I use my leadership in communities of influence to increase vigilance where people are slack and calm where people are freaked?” The privilege of financial independence is the ability to serve.”
No, You Didn’t Just Lose Half Of Your Retirement Savings – Mr Money Mustache (US)
“The end result will be a better, more resilient and richer world than ever. Yes, that will also eventually mean more money in your retirement account, but more importantly it means better and happier living conditions for every living thing on Earth. While this all sounds like optimistic magic, it’s actually just a byproduct of human nature. We are a lazy and change-averse creature and we become complacent when our fearful and primitive brains think things are “good enough” for survival and reproduction. So, oddly enough, we often need a good slap upside the head to get off of our collective asses and actually make some improvements.”
Thank you to Tina from Money Flamingo for collating these links for a FI-minded response to Covid-19. Read more about the 1000 day journey to freedom at www.moneyflamingo.com
Want to be an #AusFIWeekly guest curator? Got other Australian blog posts to recommend? Get in touch.
Yours in pursuit of FI,
Michelle @ Frugality and Freedom
PS. Subscribe to get Australian FI Weekly in your inbox each Monday.