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  • Writer's picturePeter

A house in your teens and retiring early

Updated: Jun 4

Twilight Darwin, NT, Australia
Twilight Darwin, NT, Australia

Fairfax Newspaper- 29th May 2019

Nina Hendy reporter for Fairfax Newspapers interviewed Peter Horsfield about retiring early and strategies to grow your wealth.


Frugal people are prudent savers and live a deliberately economical life. This can mean different things to different people.


Peter Horsfield, 48, and his wife Rosalind save around $50,000 a year by implementing smarter ways to keep more money in their pockets.


The couple run a small financial planning business, paying themselves $100,000 ($73,060 after tax) each per year.


They apply salary sacrificing of up to $25,000 each into superannuation, minimising their taxable income down to $75,000, saving $4825 in tax each per year, or $9650 annually.

“The benefit of doing this is that it not only moves us into a lower tax bracket, our money also grows in a low tax environment," Peter says"


PS. We still pay tax, quite a bit actually in both our personal and company tax returns, so the article is a bit of a misrepresentation. The point I was emphasizing with the reporter is ......


"financial independence is not a sprint, it's a marathon, and saving regularly along with patience is the key to financial success".


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