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Hi from Vic, Australia

Posted: Sat Jun 23, 2018 12:47 am
by ChickenCoop
Hi and thank you for this forum.

I'm in my mid forties and live in central Victoria with my partner and two young boys. We live in an old run down weatherboard house that needs a lot of work but keeps the rain out. I love to make things and have a shed full of machines and tools, mostly for metal working.

I stumbled across this forum about 18 months ago after a trip to Cambodia, after which I decided to simplify my life and get rid of stuff and get rid of debt. I've read half of Jacob's book, but didn't get to finish it before it went missing. I'll get myself another copy.

I see a lot of people on here put up there personality profiles My wife has tried to get me to do the Myers Briggs test several times. She is apparently an INFJ, whatever that is?! I don't like to be put in a box, so refuse to do the test. But this apparently makes me an ENFP. She also says I could be an ESFP or an ENTP. I'm not sure if this sets me up for failure of this pursuit of FI or not? Probably too late for ER either way!

So far I have sold most of my cars (mostly old Datsuns, 260Z etc) and a geared investment to pay out the mortgage. I'm also maxing out concessional super contributions and saving 70% of my take home pay, currently to cash.

I do love a good project and am currently building a DIY solar hot water system and thermal store for the house to be able to stop the gas bills coming. We will be making the house more solid in the next couple of years with the intention of making it much more passive solar as well.

I am looking forward to learning a lot more from you all.

Thanks for having me here!

Re: Hi from Vic, Australia

Posted: Sat Jun 23, 2018 3:19 am
by wolf
Welcome to the forum ChickenCoop!

There are different personality types pursuing FI(RE) in this forum. Each one has its strength. Of course you too! Maybe you gotta find/define your (and your partner's) strengths and use it to aim for FI.

Your high savings rates indicates that you are on a very good journey towards FI. Use that momentum and keep on going!

Great to have you here! :-)

Re: Hi from Vic, Australia

Posted: Sat Jun 23, 2018 7:54 am
by daylen
No one fits a box perfectly, but everyone has their own preferences and they tend to be stable. Individual preferences vary significantly, so being able to approximate them with boxes saves energy when interacting with them. The box just needs to be accurate as opposed to precise. By increasing the resolution of your perceptions you can increase the resolution of your judgments.

Re: Hi from Vic, Australia

Posted: Sat Jun 23, 2018 10:50 pm
by ChickenCoop
@Wolf, I'm hoping that high savings rate is sustainable, I've only been saving at that rate for about 2 months and are heading around the country on an extended family holiday for 8-10 weeks that will slow it up for a while. The house also needs a renovation to stop it falling down, Ie I put my foot through the lounge room floor a few months ago and just covered the hole with the couch for now, and last night one of my boys was worried about his bed shaking. I had to explain to him it was because of the washing machine at the other end of the house!

Our current financial position is:
-$32,000 Cash
-$380,000 Equity in investment property(subject to a likely property correction/crash!).$200,000 still owing.
$495k total

WR Currently 10.1
I haven't included our house we are living in, or superannuation balance(as I'm under 55).

@Daylen, Coming to this forum some time ago(although just joining recently), I've realized I've spent my whole life focusing on improving my practical skills. I left school at 16 and have always had hands on occupations and spent my spare time in the shed building things.
I have never spent any time consciously developing myself mentally. I have re read your post a few times and it makes perfect sense to work out how and why I think and act the way I do. I have always been a bit of a perfectionist and can be extremely focused on a task at the expense of everything else! but I can usually only stay focused on a long term project for 5 to 6 months without getting bored or distracted from it! Therein lies my problem, sticking with long term savings/investing goals. I'm thinking creating a public journal on here could help me to stay focused and maybe some of you can get out the big stick if I start to deviate!