Welcome to the future 2020 – FIRE Panda Family Update

Happy new year everyone and I hope the coming financial years will be good ones to you and your family. New years always make me excited and energized on how I can set new goals and add momentum on financial independence and retiring early. I know that every year that goes by that’s just one more year closer to financial freedom.

Our total outstanding loan left sits at $633,923 which puts our FIRE end date to March 2024! Only 4 more years left on the work treadmill hopefully.

I have to say the family and Australia did hit some bad luck at the end of 2019. Terrible bush fires have been burning right across the nation and it was very sad to see all the images and articles in the news. It was heartening to see the community and people across the world come together and support all those affected by the fire tragedy though.

As most families do over Christmas and new years we had our family vacation overseas. Everything was good for the most part but we did hit a few issues along the way. First incident on the trip was the resort we booked cancelled our booking by mistake and upon arriving to the resort we had no place to stay! Had to head back to KL and find another hotel.

Second incident the apartment we booked via Air BnB initially refused to provide an extra discount for booking longer stays. Finally the third incident was that the entire family was struck down with the influenza virus the night before we were due to fly home, missing our flights and spending 4 days in an expensive private hospital.

All these items have bitten the budget this month hopefully travel insurance will cover most of the unexpected costs but it does highlight everyone should have adequate insurance for all aspects of your life. Home, income, car, property insurance etc. It will pay off when you need it.

We will be reviewing all our policies to ensure that we are covered appropriately and also getting the best deal by shopping around and comparing online. Don’t be afraid of asking for discounts or price matching for your policies.

How did 2019 treat you? Did you overspend during Christmas and New Years? What saving goals or new year resolutions will you try? Send us an email or comment below.

Wishing you all the best for 2020 and beyond.

The FIRE Panda Family.

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