David Loses Money Tracking my adventures in making money without earning it

About Me

A

Hi! I am David – I live in Sydney and am in my late 30s, and somehow personal finance and investing has become a hobby of mine – to the point where I think my friends may be sick of hearing me going on about it so I’ve started this blog. I am tired of having to exchange my labour for money, so I feel like I should try and get involved in the endgame of capitalism – that is, being a useless handbrake on society and getting paid for having money.

I am fortunate enough to have a long-time stable high paying job and my lifestyle expenses aren’t super high. As COVID-19 has ruined any and all holidays and short-to-medium plans for my life, I regularly find myself with spare cash to invest into whatever seems like a good idea at the time.

Goals

At the moment the “realistic” goal I’ve set for myself is to get enough to put a decent deposit on a house. However, due to living in Australia (and Sydney in particular) this seems nigh-on unachievable, and even if I get there… do I want to be there? I genuinely believe the price of housing in Australia no longer makes any mathematical sense and a crash is imminent… but I’ve been thinking this for about a decade now so you know, clearly I am wrong.

I actually hit my deposit goal in January 2021 and started pulling everything out into cash with a plan on moving to Melbourne (it’s overpriced as hell, but still about 20% cheaper than Sydney). Unfortunately random border closures then on-and-off lockdowns on each side has ruined that plan in the short term, with everyone in Sydney currently stuck at home for the foreseeable future. This has led to abandoning the “buy somewhere to live” plan until next year, and the funds going back into making bad choices on the ASX and international markets.

The other ideal long-term goal in life would be FIRE – that is Financial Independence, Retire Early. I don’t think I’ll ever realistically get there either, but a man can dream.

At this time, my day-to-day goal is to beat the ASX200 index. If I can do that, then it means the choice to not just throw everything into a broad-based index fund wasn’t a waste. Since starting in late 2018 I’ve done alright, however a lot of that has been due to getting lucky with Afterpay.

Risk Appetite

So:

  • I live alone.
  • Perennially single and fine with it.
  • I will probably die alone (I know this sounds dramatic but I’m totally fine with it).
  • I have no debt.
  • I’m crazy good at budgeting.
  • I have no kids nor am I planning to.
  • I’ll be surprised if I live old enough to be able to access my superannuation (also doubly surprised if the government doesn’t set the preservation age to 70+ in the next 20 years). I mean there’s no imminent reason I’m going to die, I just don’t see me ever getting to a stage where I can access my super.

I have a little bit of a nihilistic streak , which makes me slightly more willing to try dumb things to make money than others. On the spectrum of risk appetite: I would rather punch myself in the dick than buy VDHG, but I’m also not stupid enough to YOLO my life savings into GameStop options.

Other Maybe Relevant Things

  • Politically I’m somewhere centre-left, with a pathological hatred of the Liberal Party.
  • If I see a dumb Kickstarter gadget in a Facebook ad I’m probably going to buy it.
  • I work in tech, yet am extremely skeptical of AI. I think it will always be 5 years away, forever.
  • My current plan for when I die is to split my money between the Australian Conservation Foundation, Electronic Frontier Foundation and GetUp.
  • I’m not good at snowboarding, but I love it.
  • I keep buying records. I can’t explain the appeal because I definitely think digital music sounds better, but I have fun tracking them down and collecting them.
  • I have been passing the time during lockdown by:
    • Playing a tonne of videogames.
    • Going on bike rides.
    • Reading a mix of fiction and non-fiction.
    • Watching a whole tonne of TV and movies.
    • Doing online Think Inc courses.
    • Learning Japanese.
    • Starting this blog.
David Loses Money Tracking my adventures in making money without earning it

Categories