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Welcome back to #AusFIWeekly for another edition of handpicked financial independence links and events from Australia and abroad. I’m Michelle, a mid-30s semi-retiree sharing my FI journey at FrugalityandFreedom.com.
Some big changes for me this week, as I embark on some “intentional lifestyle inflation”. I signed a 12-month lease on an inner-city apartment in my hometown, as I settle down from a semi-nomadic lifestyle and housesitting adventures (for now). As I’ve made peace with being in one city, I’m getting excited about curating a home space to my tastes, including a welcoming remote work setup to support my new online freelancing career.
For furniture, I’m hitting up my local Buy Nothing group, Facebook Marketplace, and Gumtree (like Craigslist). I’ve managed to score great condition shelves, a dining table, dining chairs, and an office chair for FREE so far. I’ve also bought a secondhand bed frame for cheap, plus a near-new standing desk for $150 (vs $350 in-store). I’m being discerning in what I’ll take, setting up app notifications for my preferred search terms and location. I’m pleased to give secondhand items another life, often getting high-quality items for far less cost.
What have been your favourite secondhand finds? Let me know by email, or follow along with my latest #buynothingnew wins on Facebook or Instagram.
PS. One of my recent freelance projects has been launched! Check out the new series What Could Possibly Go Right? featuring host Vicki Robin (author, Your Money or Your Life). I’ve loved hearing the insights of interview guests while providing project admin and video/podcast support.
Australian Links
Think You’re Too Old for FIRE? Think Again! – LatestarterFIRE on Budgets Are Sexy blog
“Let’s face it, in my late 40s, traditional retirement is looming whether I am prepared for it or not… So really, what did I have to lose? I decided I should just start implementing these strategies and see where that leads me. If the young ones can retire in 10 years, then maybe I can, too. Being financially independent at any age is surely a good thing and is worthwhile pursuing at any age.”
Would You Blink Away Time If It Meant You Could Retire Early? – HisHerMoneyGuide
“A thought sprung in my mind recently: if someone made me an offer of being able to retire instantly – but I lost the next nine or so years of my life in return, would I take it?”
5 Steps to Prepare for a Recession – Money Bites
“What goes up must come down and the reverse is also true: we will get through this and markets will bounce back at some point. How you emerge from a recession depends on how you prepare for it and we can build the financial habits needed to survive an economic downturn.”
Reaching Financial Independence under Australia’s Superannuation System and the “Two Bucket” Method – I Live Off Dividends
“There is a controversy within the Australian financial independence and retire early (FIRE) community about whether to salary sacrifice into superannuation while you are young to get the tax benefits… When you salary sacrifice into your super fund, the money going in is taxed at 15% rather than your marginal tax rate… However, there is a downside because you do not have access to this money in your super fund until you are 60. For many young people, this is too far away, so they’d rather take the money now.”
International Links
Your Ultimate Guide to Coast FI – The Fioneers (US)
“This was a completely new idea for me! Instead of continuing to save 40%, 50%, or even 60% of our income, we could choose to just cover our costs. We could, then, “coast” to retirement and focus on building an awesome life in the meantime.”
Every Time You See A Small Business, Someone Made A Brave Decision – The Escape Artist (UK)
“I’m not sure most normal employees realise how hard people with their own business work… Good things take years to build but can be destroyed in an instant. Breaking things is quick and easy. In contrast, the work of creation may be beautiful but it is also slow, laborious and painstaking.”
10 Unique Ways to Overcome Financial Jealousy – The Simple Dollar (US)
“Ask yourself if spending money would improve your life. This is a fundamental question I ask myself whenever I feel a strong desire to have something or a nudge of jealousy about something someone else has. I simply step back and ask myself what I would really have to sacrifice to have this thing.”
Actually Helpful Tips for Negotiating Salary – Four Pillar Freedom (US)
“One of the fastest ways to increase their income is to negotiate their salary. A simple 10-minute conversation could lead to thousands of additional dollars in compensation. It’s hard to find a better return on investment per minute than that.”
Thanks for reading and look out for a guest curator edition next week. Missed one? Check out the archives here.
Yours in pursuit of FI,
Michelle @ Frugality and Freedom
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