The Turbo FIRE journey begins (Dec 2018)


As we near the end of 2018, I thought this was the perfect time to begin this blog. Rather than procrastinate any further, let’s get into it! I’ll kick things off with a cliché quote.

“The best time to plant a tree is twenty years ago. The second best time is now.”

Chinese proverb

Net worth at Dec 2018

My FIRE net worth (excluding super) at December 2018 is $73,434.


Goals

It’s always good to set yourself some financial goals each year. Here are mine:

Short term goals

  1. Track my expenses closely with Pocketbook and hit my target savings rate of 70% each month.
  2. Save mostly cash in my ING HISA for a first home deposit.
  3. Open a SelfWealth account and start my LIC/ETF portfolio.
  4. Hit a net worth of $150k by 2019 year end.

Long term goals

  1. Increase my income via promotions, finding more lucrative contract work, or through additional side hustles.
  2. Continue to consistently save at least 70% of my income (e.g. $7k out of a $10k monthly income).
  3. Hit a net worth of $1m by Oct 2025.

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