“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 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.
As time has gone by, I’ve realised that passive index investing / evidence based investing appeal to me more than value investing. I hope to write a more complete post as to why – sometime after I finish my PhD – but for now suffice to say, it was an effort vs. reward trade off decision.
I’m always curious about how those on the financial independence journey got established before they started blogging about it. Did they work full time in a mining boom and save hundreds of thousands? Or were they slogging it out in a café as a second job? Yours truly kind of drifted around a little before really starting to earn a solid income.
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.
For some reason, I 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 can earn up to two times the typical salary – but only if you do well. 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!