“Someone is sitting in the shade today because someone planted a tree a long time ago.” – Warren Buffett
The short version: Wealth From Thirty shares my journey of value investing and growing wealth in Australia. I’m not a financial adviser or investment expert, but have an passion for personal finance and investing. I hope to have the option of soft-retiring within the next 15 years.
I’m 32, completing a combined PhD and Masters degree in a non-finance field and have just started my own business. I’ll be adding to this blog in my spare time – or when I’d rather procrastinate. You can read a little about my investment journey before starting this blog, here.
Thanks for visiting 🙂
More complete version: As a teenager I planned to retire with everyone else, at age 65 (or 67, or 70, who can know!). I went to Uni and joined the military when I was 22. After a year or so I went back to Uni to finish an honours degree. Over the next two years, I started reading investment books like Security Analysis and The Intelligent Investor. I went to a seminar on investing by an Aussie fund manager – Roger Montgomery – which got me interested in value investing. Before this, I had only invested in managed funds.
During the year after undergrad I worked as a researcher earning $40/hr and saved to around $10k. I used this to move inter-state in 2012 and start a Masters degree when I was 26. I had a scholarship that covered living expenses and worked at the University doing some tutoring. It was decent pay but I was basically treading water the whole time – I lived off about $23,000 p.a. in a share house with 5 other guys. I also started a PhD when I was half way through my Masters (Mmm, yeah). A PhD comes with a decent scholarship and teaching opportunities, but it’s hard to earn more than $35,000 p.a. in total. I kept learning about investing and started blogging about personal finance and investing 2015. I read a FIRE blogs like Mr Money Mustache, Budgets are Sexy and Mr Tako Escapes. These inspired to take control of my financial future.
It wasn’t until the end of 2016 that I had completed enough of both degrees to work full time. I chose to start my own business – and was fortunate enough to have supportive family and mentors help me with this. It’s a long-term approach because as I’m building the business I earn less than the typical graduate in my field. Running your own business in my area if it works well, can earn up to two times the typical salary. I’m no where near that figure yet but am on track to earn the close to a decent starting salary. I’ve only been running my business a year – that’s reasonable enough progress!
I’m also teaching myself how to invest but if it turns out I’m average (which would be the expectation) I’ll hang up my baggie green and with delight, be an index investor. I’m giving myself 5 years to out perform the market. We’ll see how I go!