No, I didn’t win the lotto last month. But what I did do is make a significant change in the way I calculate my net worth. Due to feedback from my readers and some good discussions on the r/fiaustralia subreddit, I’ve decided to:
- Remove my car ($35k) from my net worth
- Add my super ($68k) to my net worth
I think I’ve finally come around to accept the fact that my car isn’t an asset for net worth purposes. So it needs to be excluded from my net worth figures.
Regarding super, I was initially against counting it because can’t touch it for over 30 years. However one can’t ignore that it does play a significant role in reaching FI in our unique Australian retirement fund system. I’m beginning to lean more toward the two phase FI approach highlighted by Aussie Firebug in his Australian FI calculator.
It’s also going to be a super quick update this month. I’ve been very busy lately with a new (but extremely profitable) side hustle. Hopefully I’ll be able to write more about it in the next update when I have some more time.
Monthly graphs
Progress Trackers
Thanks for reading – see you next month!
Turbo FIRE Australia 
Very good.
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I really like that you include your target net worth in your graphs – what a great visual to help keep your focus!
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Thank you. I feel it does help keep me motivated and focused. If I start to fall behind my goal, there are a few levers I can pull to get back on track (e.g. take up more side hustle contract work).
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Hiya, good update. Can I ask a possibly silly question, how do you work out your target net worth? Is it essentially just your FIRE goal, divided by months left?
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Thanks mate. Yes that’s correct.
To work it out I just plugged all the months from the beginning of my FIRE journey until Oct 2025 (my target FIRE date) in a table. Then for each month I assume 7% annual growth on my investments, compounding monthly. The formula I used is:
Monthly target savings amount + [Net Worth * (1 + (annual growth/12))]
E.g.
$5,000 + $100,000 * (1 + (0.07/12))
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