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Should you rent or buy your home?
Everyone has an opinion – parents, friends, the media.
But most advice is incredibly biased, rooted in fear and emotion, and ignores the details that actually matter.
In this week’s article, I give you a complete breakdown of the financial, lifestyle, and psychological trade-offs of renting vs buying in Australia, including:
— The overlooked costs and benefits of each
— When buying makes sense (and when it doesn’t)
— Why renting can be a surprisingly effective strategy
— How to calculate what’s best for you
— My experience as a renter, owner, and investor
— Alternative strategies to consider
If you’ve ever wondered whether you’re making the right choice, this guide will give you clarity (and maybe some relief).
Read: The Ultimate Guide to Renting vs Buying
STRONG MONEY PODCAST
If there’s one thing that differs between the average person and someone in the FIRE community, it’s their mindset.
So much so, that I believe it’s this philosophy that’s responsible for a lot of the success many of you have.
In the latest podcast, I break down the differences I see and the details behind this powerful mental framework.
Listen here on Spotify, Apple, or on the website.
AUSSIE FIRE PODCAST
At some point, all of us will be invested through a stock market crash.
Maybe you’ve even been through one or two already.
If you have, you know they definitely don’t feel good. Experiencing a big drop in your portfolio can cause a lot of anxiety and inner-conflict. You question whether you’re doing the right thing.
In the latest Aussie FIRE pod, we break down exactly what to do in such a scenario, depending on whether you’re an accumulator or a retiree.
We cover what to watch out for, what to focus on, what to ignore, and how to handle the emotional side of a crash.
Listen now on Spotify and Apple.
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THOUGHTS OF THE WEEK
It’s a complete waste of time trying to convince the average person they can change their life. They’ve already decided it’s not possible. The media and doomer content have pandered to their fears and fostered an unshakeable victim mentality. Most minds are not open for self-reflection.
I started full-time work at 18 in a hot, sweaty sheet-metal factory. By 19, I’d seen enough. I already knew I didn’t want to spend 40 hours a week for the next 40 years at work. I later upgraded to forklift driving in a refrigerated warehouse, but my feelings didn’t change. There was no job imaginable that I would be happy giving all that time to.
Most ‘careers’ are just jobs with a fancier name. The uncomfortable reality is that your workplace sees you as replaceable. Six months after you leave, it’ll be like you were never there. Is that really where the majority of your time, energy, and effort should go.
FINANCIAL ADVICE
Over the years, I’ve had heaps of people ask me for personal advice – especially when they’re close to retirement or facing more complex financial decisions.
Since I’m not licensed to give advice, I’ve always had to hold back. So in the background, I’ve been quietly looking for an advisor who actually understands my message and the FI mindset.
The challenge is finding someone who won’t pressure you into an ongoing relationship you don’t need, give you complex portfolios you don’t understand, or harvest a chunk of your wealth every year just for checking in.
It took a while, but I’ve found a professional advisor I trust – someone who’s read my book and can help with planning, implementation, tax, super, and long-term strategy.
If you’ve been looking for that kind of support, you can learn more here.
Just so you know — this is a referral partnership, which means I may receive a small fee if you choose to work with them (at no extra cost to you). As always, I only recommend people I genuinely trust.
