FIRE & Chill

In this episode, we discuss the crackdown on financial content by the regulator ASIC. We share our thoughts on these issues and how it affects what bloggers and podcasters are able to say to their audience.  The restrictions are so frustrating that we have decided to end the show. We've both enjoyed making FIRE & Chill over the last two years and we truly hope you've gotten value from the content.  Thanks so much for your support and understanding. More info... * ASIC  Guidelines Information Sheet [https://asic.gov.au/regulatory-resources/financial-services/giving-financial-product-advice/discussing-financial-products-and-services-online/] * Money Magazine's Summary of the Changes [https://www.moneymag.com.au/finfluencers-tiktok-financial-advice-jail-time] * Senator Jane Hume Contact Page [https://www.aph.gov.au/Senators_and_Members/Parliamentarian?MPID=266499#t2-content-panel] * Dave's Article on the 'Finfluencer' Crackdown [https://strongmoneyaustralia.com/thoughts-on-asics-crackdown-of-financial-content/]

In this episode, we talk about the different taxes we face on our financial journeys. We discuss taxes on our income and investments, different options for reducing tax, including tax deductions and negative gearing.  We also break down examples of what taxes look like when you're living off a portfolio. Discussion points... * Intro chat  (01:10) * Employment taxes  (03:26) * Salary sacrificing and salary packaging  (07:45) * Capital gains and dividend taxes  (16:19) * Reducing tax on investments  (28:15) * Negative gearing and debt recycling  (39:47) * Taxes in early retirement  (47:08) * Some thoughts on trusts and structures  (53:13) * Where do our taxes go?  (59:11) Resources and stuff mentioned... * How we track our investments: Sharesight [https://www.sharesight.com/fireandchill/] * Key Investment Principles for Long Term Success [https://strongmoneyaustralia.com/podcast-key-investment-principles-for-long-term-success/] * Using Debt to Invest in the Sharemarket [https://strongmoneyaustralia.com/podcast-using-debt-to-invest-in-the-sharemarket/] More from us... * Pat's blog: Life Long Shuffle [https://lifelongshuffle.com/] * Dave's blog: Strong Money Australia [https://www.strongmoneyaustralia.com/] * Contact us with questions and feedback:  fireandchillpod@gmail.com

In this episode, we discuss the huge overlaps between Minimalism and the pursuit of financial independence. We talk about the benefits of Minimalism, the possible drawbacks, and how to put these lessons into practice in our everyday lives. Resources and stuff mentioned... * How we track our investments: Sharesight [https://www.sharesight.com/fireandchill/] * Low-cost share investing platform: Pearler [https://pearler.com/home?deal=fireandchill] * Further reading on Minimalism: The Minimalists [https://www.theminimalists.com/] * Further reading on Minimalism: Becoming Minimalist [https://www.becomingminimalist.com/] * When Novelty is the New Normal [https://strongmoneyaustralia.com/when-novelty-is-the-new-normal/] * Being Green And Building Wealth [https://strongmoneyaustralia.com/how-being-green-makes-you-a-wealth-building-machine/] Discussion points... * Intro chat  (01:10) * What is minimalism all about?  (03:32) * Examples of minimalism in practice  (09:38) * The benefits of minimalism  (26:35) * The possible drawbacks  (35:46) * Misconceptions about minimalism  (40:41) * Our experiences (45:13) * Conclusion and takeaway (50:43) More from us... * Pat's blog: Life Long Shuffle [https://lifelongshuffle.com/] * Dave's blog: Strong Money Australia [https://www.strongmoneyaustralia.com/] * Contact us with questions and feedback:  fireandchillpod@gmail.com

In this episode, we do a thought experiment.  What if we woke up as 18 year old's and had to start our wealth-building journeys all over again? What first steps would we take?  What would we do differently? Discussion points... * Intro chat  (01:10) * Would we study or start work immediately?  (05:32) * Would we try to earn extra income?  (13:36) * Buying vs renting for us starting now  (18:50) * Our expected living expenses, savings rate and timeframe to FI  (26:02) * Would we be more frugal than we are now?  (36:24) * Semi-retirement or full FI?  (41:12) * How would we invest?  (45:48) * Would we put extra into super?  (52:32) * What if we started at age 40 instead?  (55:20) * What if we were single?  (1:05:46) * Overall, would it be easier or harder?  (1:09:37) Resources and stuff mentioned... * How we track our investments: Sharesight [https://www.sharesight.com/fireandchill/] * Low cost share investing platform: Pearler [https://pearler.com/home?deal=fireandchill] * History of interest rates in Australia [https://www.infochoice.com.au/rate-watch/history-of-interest-rate-movements/] * Early Retirement Calculator [https://networthify.com/calculator/earlyretirement?income=50000&initialBalance=0&expenses=17500&annualPct=5&withdrawalRate=4] * DHHF & VDHG: Is One Fund All You Need? [https://strongmoneyaustralia.com/dhhf-vdhg-one-fund-portfolio-all-you-need/] * Why Financial Independence is Getting Easier [https://strongmoneyaustralia.com/why-financial-independence-is-getting-easier-part-one/] * The Future of Financial Independence [https://strongmoneyaustralia.com/the-future-of-financial-independence/] More from us... * Pat's blog: Life Long Shuffle [https://lifelongshuffle.com/] * Dave's blog: Strong Money Australia [https://www.strongmoneyaustralia.com/] * Contact us with questions and feedback:  fireandchillpod@gmail.com

In this week's episode we open the mailbag and answer a bunch of listener questions.  Hope you enjoy! Discussion points... * Intro chat  (01:04) * Can index funds drop even if shares rise?  (05:16) * Should I keep investing or start a business?  (10:01) * How do I stay strong during a market downturn?  (14:16) * I'm self-employed, should I still put money in super?  (25:05) * Can you turn liabilities into assets?  (32:47) * I keep investing my cash buffer, help!  (40:14) Resources and stuff mentioned... * How we track our investments: Sharesight [https://www.sharesight.com/fireandchill/] * Low cost share investing platform: Pearler [https://pearler.com/home?deal=fireandchill] * Dave's Post During the Coronavirus Sharemarket Crash [https://strongmoneyaustralia.com/my-thoughts-on-the-current-sharemarket-crash/] * Dave's Post on Short Termism and Market Madness [https://strongmoneyaustralia.com/short-termism-and-market-madness/] * Pat's Poorly Timed Investing Post [https://lifelongshuffle.com/2020/02/07/is-now-the-right-time-to-buy-with-the-market-so-high/] ;) * Pat's Post on Market Timing During March 2020 [https://lifelongshuffle.com/2020/03/21/that-market-timing-post/] More from us... * Pat's blog: Life Long Shuffle [https://lifelongshuffle.com/] * Dave's blog: Strong Money Australia [https://www.strongmoneyaustralia.com/] * Contact us with questions and feedback:  fireandchillpod@gmail.com