Cool! Glad to hear it man – please do stay in touch :) Always fun (and interesting) learning about how stuff works in other countries. And even cooler that it’s so easy for all of us to be connected now with the internet! Best invention ever.

We are very lucky! It’s truly a shame however, with these sort of schemes, that people still are so lazy at taking control of their finances. Most people consider super “boring” because it will only affect them when they are 65.

Thanks a lot for your insight and your candid openness about your fiances – I’ve drawn a lot of inspiration from your budgets and it was a big help in setting up my own. Keep up the good work!

Wowww that’s awesome! I’M MOVING TO AUSTRALIA RIGHT NOW!!!!

Haha.. that’s really great man, good for your country. You guys are gonna be so much more well off in retirement than us (the U.S.). Which is why people like us on this blog are all so hardcore about saving and investing as much we can so we – too – can be okay by then… employers here don’t have any of those requirements – if we’re lucky they’ll match 3% of whatever we put into our 401(k) program. And you usually have to then work there for X number of years until it’s 100% yours – it’s crazy.

To answer your questions though, yes – every year I do my best to max out our IRAs, which is $5,500 for each person in 2013 (for Traditionals and Roth IRAs). But keep in mind we also have 401(k) programs (max of $17,500 in 2013) and SEP Iras (max based on profit from your business) and others… So at least we have a lot of tools at our disposal :) It’s just all up to us – individually – to take advantage of them, and as early as possible so it all builds up over time…

I invest about $20,000-$30,000 every year into my retirement accounts, so if I keep that up (and they continue to grow), then we should be set by the time retirement comes. Haven’t done the calculations really cuz I’d probably never “retire” anyways, haha… right now i work for myself but it’s mainly fun and would prob do if i didn’t have a job anyways :)

Thanks for stopping by, my man – glad you’re enjoying the blog.

I was just wondering about your IRAs.

In Australia, we have compulsory superannuation, where your employer has to put an amount equal to 9% of your salary (at least) into an approved managed fund (that you choose and control). This is outside of your salary and any amounts you invest privately. You can add to it, its encouraged by favourable tax benefits.

Do you regularly put a specific amount of money into your IRAs? How are they performing per year? How much do you expect to have by retirement age?

Thanks! Love the blog!

Yeah, it’s just purely a fun voyeuristic thing to see for me :) I’ll be just as motivated to hit a million dollars all by myself, haha…

Curiosity fed? It is interesting to have it consolidated. Does it bring out the competitive spirit in you to reach the top? Probably more motivating to simply have a high net worth to be financially free!

Hah, really? Now you’re forcing me to go over and look cuz I have to feed my curiosity! :)

Keep on hustling! It’s only a phase right now and once you’re old and gray like me you’ll look back fondly on these moments ;)

To calculate your net worth is easy btw – just add up all assets/accounts/money on one side, and then subtract all loans/debt on the other. Whatever the difference is is your net worth :)

Haha thanks – I agree I need to do that soon :) Though I like to look at it as putting all my money originally into the BAD account so I feel like I’ve EARNED a lot more money than lost, haha… And with my luck I’m sure that would have been the route I chose if I had to pick only 1 back then :) I’m not good at “the game.”

It is nice :) But remember other months I lose $10k+ for not doing a darn thing, haha…