Australian FI Weekly #48

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Welcome to another #AusFIWeekly with 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

Last week, I enjoyed being guest speaker on “Your Roadmap to Coast FI” workshop by The Fioneers. Coast FI is an underrated yet empowering concept along the FIRE journey: “the point at which you no longer need to save any money to have a comfortable traditional retirement”. Compounding over time does the hard work in growing your financial independence stash to your ultimate goal.

In the meantime, this step towards financial freedom can allow you to refocus on other goals and lifestyle design, such as taking mini-retirement breaks or downshifting to part-time work. I’ve recently used my Coast FI status to transition to enjoyable freelance work, covering my current living expenses while my share portfolio grows without further effort for future.

Have you reached Coast FI? Find out with The Fioneers’ calculator.

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Australian Links

How Much Do I Need to Save Every Month to Meet My Retirement Goal? – Passive Investing Australia
“This calculator helps you estimate your “need to take risk” (how much risky/growth assets – stocks – you need to meet your goals)… There are other means to lower your need to take on a level of market risk that may be beyond your tolerance – increasing savings rate, increasing accumulation time horizon (delaying retirement), or lowering retirement spending. You can adjust the variables until you can find a way to reach your goal.”

The Emotions Impacting Our Relationship with Money – How to Money podcast
“We want to see ourselves as competent human beings, and often have a blind spot towards our own biases. We usually don’t discover our own biases until we make a mistake or have someone point them out, so it’s really important that we remain humble so we can acknowledge our own behavioural biases when they are pointed out.”

Trekking our Way to SideFIRE: Our Journey Update – Keepin’ It Frugal
“This method is definitely not a traditional FIRE path. For us, we see each FIRE path as unique as the next. That’s the beauty of it. Forging your own way, switching back when you need to or discovering a new road when the opportunity arises. The fun is in the journey, not just the destination. And we’re going to enjoy it every step of the way.”

How to Build an Ethical Investment Portfolio for FIRE – Come FI With Me
“To me, the idea of an ethical approach to FIRE is about bringing this question of, ‘Why?’ into the present. Rather than leaving it to be dealt with by some future self who’s living it up, it’s about asking ourselves here and now what we’re trying to achieve with our limited lives, and how we want to achieve it. One thing that Ms FWM and I are keen to do in early retirement is dedicate more time to volunteering, and we see philanthropy as an important part of our FIRE journey too. To us, it wouldn’t make sense to make unethical choices in order to get to FIRE if our goal is to spend time ‘doing good’ when we finally get there!” (See also How I’m using Ethical Investing for Financial Independence in Australia on FrugalityandFreedom.com)

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International Links

The FIRE Alternative You May Not Have Considered: Semi-Retirement – Eat Sleep Breathe FI (Canada)
Featuring guest Semi-Retire Plan: “The FIRE movement can be intimidating and overwhelming for people that can’t reach those high savings rates of 50% or more and pay their bills. But there’s another, less talked about option that can unlock early retirement for an even larger portion of the population—semi-retirement.”

$500,000 at 30: I Hit My FIRE Number! – A Purple Life (US)
“My goal before quitting in September was to hit a net worth of $500,000. So, after 9 years of working, including 5.5 years of intentionally saving, I have finally reached my goal! And of course, since everything involving me is over-dramatic and ridiculous, hitting this number was a bit of an emotional rollercoaster.”

Know Your Optimal Working Conditions – Modest Millionaire (Canada)
“People gain more satisfaction in their work when they become better at doing their tasks which then leads to increased autonomy, competence and feeling connected and valued by others. Being able to operate and complete your work under circumstances that allow you to perform at your best is therefore valuable not only for your employer but for you as well.”

Hang out with Brandon, The Mad Fientist FB Live – Choose FI (US)
Watch this video replay featuring a rare appearance by early FIRE blogger, The Mad Fientist. Brandon shares what he’s learned after four years of early retirement, in this casual conversation and audience Q&A.

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Thanks for reading! Read the archives here or get in touch if you find new favourite links to share.

Yours in pursuit of FI,
Michelle @ Frugality and Freedom

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