Whats this blog all about?
Kia ora and welcome to the Morepork Report, a Kiwis perspective on money and achieving financial independence. Here, I post about personal finance in New Zealand and my progress towards making a job redundant.
We are young professionals, lucky enough to have a good financial head start (after some mishaps). Since 2015 we have been planning our early retirement from full-time work.
I am inspired by people like Mr Money Mustache, an American blogger who introduced me to the idea of being financially independent – when you no longer need a job to cover your expenses.
To achieve financial independence we are saving and investing as much as we can while ensuring we continue to have a happy and fulfilling life.
We are also passionate about minimalist living, reducing consumption, avoiding materialism, and travel.
As a kid I often dreamed of having enough money to retire young, live an exciting life, and the freedom to do whatever I wanted. I remember reading books such as Rich Dad, Poor Dad and imagined being a real estate mogul. As I grew older I realised that it is pretty difficult to Get Rich Quick! After a brief foray in sales and business straight out of high school I settled down to finish my studies at Canterbury University.
After graduating as a history teacher in 2013 I started full-time work. After paying student loan repayments, KiwiSaver, tax and ACC levies I had much less than I thought I would! I resigned myself to earning an average salary as everyone knows if you want to be rich, don’t become a teacher.
The epiphany moment
For the next two years I continued living a normal life, spending most of what we earned, only managing to save a little. We were lucky that I had opted for 8% KiwiSaver contributions.
Then around the end of August 2015 I discovered Mr Money Mustache, a pseudonym for an American blogger who, along with his wife, retired at 30. I discovered that not only is early retirement and financial independence (also known as the acronym FIRE) possible, but it is also possible on a teacher’s salary.
I find it easy to think of it like this:
The more you save, the more money you make, the less money you need to earn.
Save and invest enough, and eventually your investments will provide you with enough to cover your expenses. Now you are financially independent.