Aussie FIRE | Financial Independence Retire Early 18. A deep dive into Dave’s finances
Aug 2, 2024
In this engaging discussion, Dave Gow, the mastermind behind Strong Money Australia who reached financial independence by 28, dives deep into his personal finance journey. Listeners gain insight into his annual expenses of around $60,000 and the impact of spending habits on net worth. Dave shares how relationships influenced his FIRE habits and the complexities of merging finances within partnerships. The conversation also highlights the emotional aspects of financial management and offers relatable advice for anyone aiming to achieve financial milestones.
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Property Investment Risks
- Accept market fluctuations in rental income and mortgage interest as inherent risks of property investment.
- Adjust your decisions if you want different outcomes, rather than blaming external factors.
Long-Term Financial Planning
- Don't over-plan long-term finances, as unexpected events can easily disrupt plans.
- Focus on optimizing for today and the near future, while acknowledging long-term goals.
Poorest Moment
- Dave Gow's poorest moment was arriving in Perth in 2007 with $800 and no job.
- He quickly found work, but an influx of bills soon after left him feeling broke despite working.