Chapter 18 - "Portfolio Update - Yet another example of the importance of FI" $171,859 (+$8,845) - The Incompetent Investor

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Tuesday, November 19, 2019

Chapter 18 - "Portfolio Update - Yet another example of the importance of FI" $171,859 (+$8,845)

G’day everybody,

It is stinking hot in Darwin at the moment. Check out these guys at home....

Remember, nothing on this blog should be taken as personal financial advice.  General thoughts and information only.  As always, do your own research before making investment decisions that can impact your life considerably. 

It has been some months since I’ve last posted. Hope everybody is doing well and I look forward to posting as often as I can.

In regards to the investments, I have not made much contributions other than QVE and a little bit of VAS. Some dividends and a juicy tax return came in too which was nice. 

Nothing has really changed other than those two additions. The vehicle loan is essentially paid off. We left a small amount outstanding to avoid early payment fees. The loan was structured in that way when we were frantically trying to get credit before leaving to Darwin from Melbourne. If you are new, check out this post for more details regarding the Melbourne to Darwin relocation.

On other news, I am pleased to report that I recently was promoted to a new role where I will manage up to 3 staff. I’ve opted to work 4 days a week over 5 days a week for work/life/health balance. Got a great boss who was understanding on this front. Having that one day off is more important to me than any amount of money. It makes a massive difference on one’s mental health in my opinion. My weekend essentially begins on the Thursday night as opposed to Friday night. I don’t think I will ever return to full time work (if I can help it).

This particular role won’t start until Jan 2020, therefore, we are living week to week at the moment. Compounding to the challenges is my wife was let go from her work after returning from her trip to Melbourne visiting her brother.

Unfortunately, she learnt from her close colleagues that the practice manager was furious that my wife declined to come into work after she finished an exam (going back a few weeks now). She was convinced my wife verbally accepted to come in that afternoon. I was not surprised when I asked my wife if they had this agreement in writing. In addition to this, the following day, admittedly my wife made a mistake on her flights and she left one day earlier than anticipated. She was rostered on this particular day. My wife was faced with a difficult situation. My wife either had to miss her shift or basically not go to Melbourne. Obviously my wife apologised however the practice manager wasn’t impressed and ‘apparently’ requested her daughter to come in on the day to cover the shift. It was alleged, again, through colleagues, that her daughter also had an exam. Anyway, to cut a long story short, they were furious, and they let her go as a result.

To this day, the practice manager (co-owner of the clinic) has yet to officially inform my wife she has been released. The practice manager has asked colleagues to approach my wife to request for the key and uniform to be returned. My wife declined and said she will go into the practice herself and speak to the practice manager directly as opposed to having conversations through third parties. Unfortunately this is the nature of being a casual. It can be quite difficult to advocate for yourself.

Perhaps this is another classic example of the importance of being financially independent. While I accept my opinion is somewhat biased (obviously given my loyalty is with my wife), the clinic are terribly ruthless in my view. The owners, in my opinion, are extremely self-centred, and the front line staff (receptionists) are really just collateral damage.

In recent years we have learnt that the challenges with admin roles is you are easily replaced, thus the importance of getting a useful qualification is quite important. If you are reading this, I honestly believe an education is really important for job security. Many people lead great lives without education. However, in our view, getting an education can truly provide you job security (depending on what qualifications you peruse).

In relation to the recent job loss, the wife’s confidence was knocked up a bit. Luckily, my current boss, was more than happy to provide a reference for my wife as she has volunteered in various programs we ran on weekends throughout the year.

So to summarise, at the moment, I am working part time (until my new role kicks in) 2 days per week (which will conclude on the 12th of December 2019), and my wife is unemployed. As you can suspect, currently, we are eating a fair bit of vegetables and rice. I once read that the poor diet is in fact the healthiest diet (excluding that diet of western countries where we often see low socio economic areas gravitating towards fast foods which is unfortunate).

To add more complexity to our current financial situation, my cousin is getting an arranged marriage in India, during the peak season (December into January 2020). This all happened rather fast and unexpectedly. The family want my son to join me. I am pretty much obligated to go for a few reasons. Firstly, for cultural reasons, and secondly, I am really close to my cousin. We don’t talk a lot, but we have always enjoyed each other’s company. It is difficult to explain, but enjoying each other’s presence has always been more important than having the need to ‘talk’ all the time. There is peaceful silence, and then there is awkward silence. You all know what I mean.

Anyway, while we are definitely not well positioned for this trip (with the wife losing her job and my new role not starting until Jan 2020), it has to be done. Father Phil offered $600 towards the trip for my son given his the star of the family. That was greatly appreciated.

Aside from that, my brother in law gifted my son a Warhammer set which has morphed into a new hobby. Myself, my wife, and my son are all getting into painting and the game itself. It is actually quite a lot of fun. Below are a couple of pictures of some miniatures my wife and son painted.

I have also encouraged my wife to come along to some volunteer work I do on Saturday nights. It is centred around basketball and young youth. My son has joined in too. It has been an amazing cultural experience for him. They are all amazing kids and I get so much out of volunteering. I encourage you all to try volunteer where you can. It brings you a lot of happiness in my opinion.

Wishing you all a great Christmas and will touch base with you all in early 2020!! Let us smash 2020 together!!!!!!!!!!!


Disclaimer: I have an extremely poor track record with picking individual shares. I also do not have the ability to digest complex financial reports to make informed decisions around buying into individual shares. Also, 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 also 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. Congratulations on the new role and especially on insisting on working only 4 days! Sorry to hear what happened to your wife and that things are a little tight right now, but I am sure you will both come out the other side stronger! See it as motivation for FI!

    1. G'day Mrs Flamingo,
      How are things going with the little one?
      Thank you for the kind words. Yes, you are right, totally provides us with motivation to keep on keeping on :)