This page will detail the overall financial position of the Panda family and when we will be financially Free! It also shows where our money is currently invested and any returns.
Income vs Expenses
We have been tracking our expenses for the past 2 years and so far it is around $63,000 a year. But some of these expenses could be cut if we decided to stop working, eg: Little Panda OSHC (outside school care) fee, we can also sell one car, which means we should be able to save an extra $8000 a year by cutting these items.
| Passive Rental Income | |
| Investment Property – C1 (weekly rent) | $440 |
| Investment Property – C2 (weekly rent) | $420 |
| Investment Property – T1 (weekly rent) | $260 |
| Investment Property – T2 (weekly rent) | $330 |
| Total (Weekly Rent) | $1450 |
| Total (Yearly Rent) | $75400 |
| Total Yearly Investment Expenses | -15000 |
| Depreciation | -18000 |
| Taxable Income | $42400 |
| Tax payable | -4000 |
| Actual Yearly Income | $56400 |
Projected FIRE Date – 1 March 2024
The graph above shows that we should be financially free by 1st of March 2024. It is important to note that we shouldn’t have to draw down on any savings or assets as passive income should be maintained.
| Date | Actual Outstanding Loan | Projected Outstanding Loan |
| 1/7/2017 | -941000 | -957000 |
| 1/8/2017 | -931397 | -945000 |
| 1/9/2017 | -910186 | -933000 |
| 1/10/2017 | -903561 | -921000 |
| 1/11/2017 | -894519 | -909000 |
| 1/12/2017 | -889000 | -897000 |
| 1/1/2018 | -876300 | -885000 |
| 1/2/2018 | -863213 | -873000 |
| 1/3/2018 | -861326 | -861000 |
| 1/4/2018 | -849419 | -849000 |
| 1/5/2018 | -841728 | -837000 |
| 1/6/2018 | -832470 | -825000 |
| 1/7/2018 | -823135 | -813000 |
| 1/8/2018 | -797535 | -801000 |
| 1/9/2018 | -771684 | -789000 |
| 1/10/2018 | -779795 | -777000 |
| 1/11/2018 | -772883 | -765000 |
| 1/12/2018 | -755,215.00 | -753000 |
| 1/1/2019 | -754,492.00 | -741000 |
| 1/2/2019 | -761,302.00 | -729000 |
| 1/3/2019 | -750,196.00 | -717000 |
| 1/4/2019 | -738,137.00 | -705000 |
| 1/5/2019 | -735,405.99 | -693000 |
| 1/6/2019 | -720,918.00 | -681000 |
| 1/7/2019 | -699,867.46 | -669000 |
| 1/8/2019 | -688,986.05 | -657000 |
| 1/9/2019 | -660,640.53 | -645000 |
| 1/10/2019 | -646008.15 | -633000 |
| 1/11/2019 | -632713.97 | -621000 |
| 1/12/2019 | -625462.7 | -620713.97 |
| 1/1/2020 | -633923.00 | -608713.97 |
| 1/2/2020 | -596713.97 | |
| 1/3/2020 | -584713.97 | |
| 1/4/2020 | -572713.97 | |
| 1/5/2020 | -560713.97 | |
| 1/6/2020 | -548713.97 | |
| 1/7/2020 | -536713.97 | |
| 1/8/2020 | -524713.97 | |
| 1/9/2020 | -512713.97 | |
| 1/10/2020 | -500713.97 | |
| 1/11/2020 | -488713.97 | |
| 1/12/2020 | -476713.97 | |
| 01/01/2021 | -464713.97 | |
| 01/02/2021 | -452713.97 | |
| 01/03/2021 | -440713.97 | |
| 01/04/2021 | -428713.97 | |
| 01/05/2021 | -416713.97 | |
| 01/06/2021 | -404713.97 | |
| 01/07/2021 | -392713.97 | |
| 01/08/2021 | -380713.97 | |
| 01/09/2021 | -368713.97 | |
| 01/10/2021 | -356713.97 | |
| 01/11/2021 | -344713.97 | |
| 01/12/2021 | -332713.97 | |
| 01/01/2022 | -320713.97 | |
| 01/02/2022 | -308713.97 | |
| 01/03/2022 | -296713.97 | |
| 01/04/2022 | -284713.97 | |
| 01/05/2022 | -272713.97 | |
| 01/06/2022 | -260713.97 | |
| 01/07/2022 | -248713.97 | |
| 01/08/2022 | -236713.97 | |
| 01/09/2022 | -224713.97 | |
| 01/10/2022 | -212713.97 | |
| 01/11/2022 | -200713.97 | |
| 01/12/2022 | -188713.97 | |
| 01/01/2023 | -176713.97 | |
| 01/02/2023 | -164713.97 | |
| 01/03/2023 | -152713.97 | |
| 01/04/2023 | -140713.97 | |
| 01/05/2023 | -128713.97 | |
| 01/06/2023 | -116713.97 | |
| 01/07/2023 | -104713.97 | |
| 01/08/2023 | -92713.97 | |
| 01/09/2023 | -80713.97 | |
| 01/10/2023 | -68713.97 | |
| 01/11/2023 | -56713.97 | |
| 01/12/2023 | -44713.97 | |
| 01/01/2024 | -32713.97 | |
| 01/02/2024 | -20713.97 | |
| 01/03/2024 | -8713.97 | |
| 01/04/2024 | 3286.03 |
Financial Asset Breakdown
Property – 68% : $2,200,000
Shares – 1% : $20,000
Cash – 22% : $720,000
Super – 9% : $300,000
Cash is sitting in offset accounts lowering interest payments on loans at an average of 4% per year.
The FIRE Panda Family 