Chapter 3 - “Financial Independence is More than Jetting Across the World” November Update Net Worth $76,646 (-$760) - The Incompetent Investor

Sunday, November 18, 2018

Chapter 3 - “Financial Independence is More than Jetting Across the World” November Update Net Worth $76,646 (-$760)

I have been unable to post for a few weeks as I have recently moved to Darwin. The landscape and weather in Darwin and across the Northern Territory is beautiful, particularly if you love hot weather! I will post some photos soon to share the wonderful culture and beauty that exists within the Northern Territory.

In this chapter, I wanted to write about the importance of financial independence in the face of life challenges, many of which are unforeseen, or, perhaps you have a physical or psychosocial limitation that you endure on a daily basis (I don’t like the word ‘disability, so I prefer to avoid it as often as possible).

According to the Australian Network on Disability (, there are over 4 million people in Australia that have some form of disability. That is circa 1 in 5 people. This is quite a large portion of Australia’s population. In other words, it is very likely that you will know somebody with a limitation, or even experience some limitations yourself throughout your life (touch wood). You see, financial independence is more than a self-centred objective to live a comfortable life. For many of us, it is a general requirement to empower our families and ourselves. For example, consider that you are injured, or your underlying condition flares up meaning you need to reduce your hours at work, or stop work altogether for a while. In addition to this, compounding to the stress is the reality that in some instances you will need to justify your pain or limitation to medical professionals, or agencies who determine whether you are eligible for supplementary income.

Do not get me wrong, there are many medical practitioners who are empathetic and advocate on your behalf. My point is that the whole process can be challenging, dis-empowering and stressful which can further exacerbate your condition reducing an already strained quality of life. I do not know about you, but if I can help it, I prefer not to have other people or agencies dictate the family’s financial security if I can help it. That being said, we are fortunate in Australia to have the supports we do (NDIS, DVA & Centrelink and so on). That is why you will never hear me complaining about paying tax in Australia. In fact, I would be happy to pay more and model ourselves similarly to some of the Scandinavian countries (personal thoughts). 

Moving back to the financial component of this chapter, I strongly believe reaching Financial Independence is more than just being able to retire early and jetting off overseas to enjoy good food and culture. For many people, it is financial security to provide for their families, themselves, and be in a position to reduce their hours or take a break from work should they experience some struggles in their life. As mentioned above, 1 in 5 people will experience some struggles in their lives. Beyond this, further down the road, you will be in a position to work for the good of your heart, perhaps volunteering your time to reduce inequality and injustice in Australia or throughout the world.

Perhaps you want to invent a device at improves water quality in remote areas throughout the world. Everybody has different motivations in life (above are some of mine), but the main point I am making here is Financial Independence can be different things for different people. For myself, with lived experience, it is empowering myself not to be reliant on agencies and others for my financial security. To the best of my ability, I hope to be financially independent in all moments of my life, the good times and the bad times. Whether you have experienced some challenges in your life or not perhaps some of the content may resonate with you.

In relation to the family portfolio, I have recently added ARG to the portfolio. I have also added additional units in Milton & BKI Investments Co.  I am watching bank shares with interest. However, with property softening perhaps there will be better buying opportunities.

Net Worth $76,646 (excluding super) 
Part of the process is going through market cycles. If you look at the graph below, you can see the markets have had a nice little correction recently.

ANZ Bank – Individual Share

Disclaimer: The information on this website is general information and should not be taken as financial advise. I am simply documenting my journey and experience. I am also not a licensed Financial Adviser. You should always seek independent legal, financial, taxation and other advise that relates to your unique circumstances. The Incompetent Investor is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.


  1. Agreed about your thoughts on tax. Unfortunately the people that pay the most tax are not the people earning the most money!

    1. That is a good point. System certainly needs to be fair and saleable. Much like speeding tickets. A speeding ticket for a low income earner is food for the month, for a high income earner, it is 10 minutes billable time at work :-). I hear your point though.

  2. I live with chronic pain so for me FI is a plan to be able to support myself when I eventually struggle too much with work. Good writeup.

    1. I also live with chronic pain. Like you, planning the same when the time comes where it is too difficult to manage. Got a 10 year plan.

    2. All the best mate. There is light at the end of the tunnel if we plan accordingly if possible (not always possible).

  3. Great article and wise thoughts You should be known as 'The Intelligent Investor"

  4. why argo when its identical to afi??

    1. Hi mate, sorry for the late response.
      I like to hold a few LIC's just to increase the chance of participating in Share purchase plans.
      Have a read here..

  5. Nice article dude!

    FIRE means so many different things to different people. I'm just glad that we live in a country with so much opportunity to even achieve such an outlandish goal.

    I look forward to reading your progress in the coming months :)

    1. G'day dude,
      Nice of you to stop by. I was not expecting that!
      Much appreciated from a great blogger such as yourself.
      Thanks again for the feedback btw.