Bogan Wealth – January 2017

New Year, same bogan. Here’s a brief summary of my progress so far.

With $500 to my name and a giant debt from Uni, I started saving in May 2014. By putting away about 60% of my income when I’ve actually had work, I’ve been able to invest quite a bit. Thanks to me, shares in Fantastic noodles have gone through the bloody roof. Chicken flavour of course.

How I do it is pretty simple: me pay goes into one account, and then I set it up with this you beaut feature that sends 60% to savings, 25% to rent, and 15% to a spending account. This way I know what goes where and I can keep on top of it all! Every now and then I’ll invest some of the savings and bob’s your uncle. I started this a couple of years ago when I had finally started working full-time hours.

Before I knew it, it was the end of 2014 and I found myself losing my job – “Merry Christmas ya bogan” they said. I was unemployed for a few months and that set me right back.

So long and thanks for all the fish

By the end of 2015 I had found another job that paid less per hour but after 3 months there I bought my first house nonetheless. It was a you beaut ripper – the cheapest one in the metro area. Four walls, a door, what more could ya want. By the end of 2016 I had two houses (doubling my total number of walls), got my first pay rise, and began a share portfolio to kick on with. This is how it’s tracking.


2 freestanding houses on large >600 sqm blocks, worth $455K with $385K debt. Interest only loans. Equity: $70K


$20,202 in just five individual companies. Average dividend is 4.9%.


$5,142 in an offset account, saving me 4.2% in interest.


Ticking along nicely

Total net worth: $95,344

100K is just around the corner and I hope to reach it by the end of Feb. Job security is looking a little shaky so we’ll play it by ear. Unemployment sounds so beautiful when I think of all the free time I’d have. I also spent too much money on Xmas but still.. I might buy a motorbike for the hell of it.

COUNTDOWN: 53 Months Until I’m 30

It’s now been 32 months since I started investing & my net worth has grown at an average of $2,963 a month. At this rate, I have a projected net worth of $252,429 by the time I turn 30. Which is good, but not great.

Assuming ~$180K of that will be in stocks, I’d need to withdraw 5.6% p.a to cover the necessities.

This doesn’t factor in any potential pay rises, increases in rental income or equity, nor does it include my super, HECS debt, or my fully sick V8.


5 thoughts on “Bogan Wealth – January 2017

  1. Looks like you’re making decent progress! I’d definitely skip the motorbike and sell the V8…. 😉

    Sounds like your investing has happened pretty rapidly which is impressive to see. I am not familiar with the Adelaide market, but two properties there sounds pretty good to me. Have you looked into index funds? Or happy with individual shares? I have both and certainly prefer the index funds, but once upon a time I was picking individual shares like I knew something, and it turns out I knew nothing. I only still have them because I’d lose so much by selling!


    • V8 guzzles fuel but I love her!

      I certainly have considered them, I seem to get criticised a bit for avoiding them. I really don’t see the Aus economy doing too well going forward, and is the global economy much better?

      When I first started buying shares I went for more speculative companies. I made money on all but the miners. I’ve since refined my strategy to target value small caps and no god damn mining companies. So far it’s working – but eventually I’ll probs put a large chunk into something like VGS in somewhat of a core-satellite method. Considering the current exchange rate, that may happen sooner than later..

      What kind of companies did you aim for, and which funds did you settle on? And why?


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