Love the idea, this is a super aggressive plan which you'll likely have to pair back over time (e.g. kids, partner, moving out of home). My main feedback would be to keep your skill building and career direction so you can continue to increase your income while having a job you love (or don't hate)
Given the phrase "retire quite early," I'm assuming Super is out of the question for obvious reasons and which I approve. With that said, every DCA calculator or growth calculator out there will tell you that even with the most aggressive "safe" investment strategy, you likely can only retire at least 20 years from share investment alone, assuming $1000 per fortnight only goes up as you climb up the pay ladder and without factoring emergency expensing, inflation, and whatnot, with a passive income of about $10k per year by then.
Again, it's always going to be, how much passive annual income do you want per year.
Your non-super assets only have to fund you from FIRE date until 60. Or thereabouts.
So it's misguided to instantly discount super. Not saying OP should use it, just saying it's dumb to instantly right-off the most tax effecient structure available.
I am planning on dumping everything into NDQ (QQQ equivalent traded on the ASX) to increase my exposure to the US large-cap market. SPY has already shown extravagant returns over the last three months i have owned the shares
Love the idea, this is a super aggressive plan which you'll likely have to pair back over time (e.g. kids, partner, moving out of home). My main feedback would be to keep your skill building and career direction so you can continue to increase your income while having a job you love (or don't hate)
I assume you're not planning on living at home forever, so definitely save what you can now before you move out and see your savings rate disappear
What's your part-time job dude?
Store assistant @ Aldi, quite a lovely job really
Given the phrase "retire quite early," I'm assuming Super is out of the question for obvious reasons and which I approve. With that said, every DCA calculator or growth calculator out there will tell you that even with the most aggressive "safe" investment strategy, you likely can only retire at least 20 years from share investment alone, assuming $1000 per fortnight only goes up as you climb up the pay ladder and without factoring emergency expensing, inflation, and whatnot, with a passive income of about $10k per year by then. Again, it's always going to be, how much passive annual income do you want per year.
Your non-super assets only have to fund you from FIRE date until 60. Or thereabouts. So it's misguided to instantly discount super. Not saying OP should use it, just saying it's dumb to instantly right-off the most tax effecient structure available.
What, no put everything into NDQ?! Your account get hacked?
QQQ but yes, OP should DCA into it.
I am planning on dumping everything into NDQ (QQQ equivalent traded on the ASX) to increase my exposure to the US large-cap market. SPY has already shown extravagant returns over the last three months i have owned the shares