Name: Sneak’s Fireplace
Age: 30 & 28
Location: Victoria, Australia
FIRE Number: $1,000,000
FIRE Type: Regular / Barista
Savings Rate: 60-65%
Yearly Expenses: $40,000
Income Type: DINK
Income Sources: Salary and Dividends
Like most Australian’s on the FIRE journey it all started after reading the Barefoot Investor by Scott Pape. This book changed the way we thought about saving, spending and investing. We have always been good with money but lacked any structured savings plan or financial goals.
After reading the Barefoot Investor, we reviewed everything from top to bottom – bank accounts, insurances, superannuation, direct debits, annual subscriptions etc. While doing our own research online, we found a little rabbit hole that is the FIRE movement.
Starting our journey in January 2020, we don’t know where our FIRE journey will end up as we both love our employer and careers, however deciding to start this FIRE journey was never about the RE (Retire Early) but more so the FI (Financial Independence). We have plenty of time to decide, but it will most likely be a mixture of Regular FIRE and Barista FIRE. We will almost certainly leave full time employment and scale back to 2-3 days per week (lucky for us both of our careers allow for this) or we may decide to travel for some time and see where life takes us from there. The future is unknown, but we know Financial Independence will give us a world of options.
We decided to start blogging our journey through this Website, Twitter and Instagram for a few key reasons:
- Keep us on track and accountable
- Allow us to look back at the journey once we reach Financial Independence
- To share our learnings and journey with others.
Our posts will share Portfolio Updates
and our Progress Spreadsheet
each month. We will do some feature blogs about Investment Goals and Strategies while also covering some common topics such as Saving, Spending and Investing. If you have a specific topic you would like us to cover, feel free to send a request through via the Contact Us
page on our website.
Hopefully you find our story a little different to most others in the FIRE community as we will share our exact portfolio; what we are invested in and how much we have invested. Another key difference is we are still happy spenders – we don’t count every cent and stress about every dollar. The FIRE movement doesn’t have to be total frugality, if we want something that will add value to our lives, we purchase it.
Some key principles guiding us along:
- "Do not save what is left after spending, but spend what is left after saving." - Warren Buffett
- Spend less than we earn and invest the difference. We invest a minimum of 50% of each pay into broad ETF’s and LIC’s.
- There will always be someone who will get rich faster by riding the rollercoaster of risk. Continue to sit on the sidelines and stick to what works. Invest in large businesses through ETF’s and LIC’s that generate profits and pay dividends.
One page we hope that will be useful for you, is our Recommendations Page.
This page will continue to be added to over time and be our base for products and services that have assisted us on the FIRE journey.
If you would like to follow along on our FIRE journey and stay up to date with our blog posts and portfolio updates, please subscribe to our mailing list.
Disclosure: we are not Financial Planners, nor do we have a Financial Services Licence.
The information contained on this website and associated Sneak’s Fireplace outlets is general in nature and does not take into account your personal situation. All information posted is merely for education and informational purposes. It is not intended as a substitute for professional advice. Should you decide to act upon any information on this website, you do so at your own risk.
The Content displayed on the website is the intellectual property of Sneak’s Fireplace. You may not reuse, republish, or reprint such content without our written consent.