Walking the Road to Riches

Hey everyone,



Last few months I've been educating myself on the investing approach I will take. I wanted to use this forum to track my journey to accumulate wealth slowly just before I begin.



Please feel free to follow and critique my plan to help me learn and hopefully you can learn something from me too.



Current Situation

Age: 32 years old

Emergency fund: $0

Assets: $280-300k investment property, $80k in SMSF, $16k cash

Debt: $8k borrowed from family, $260k IO mortgage

Income: $85k– 100k+ pa

Savings per month: $2k+ pm



Approach

"Buy-and-hold, long-term, all-market-index strategies, implemented at rock-bottom cost, are the surest of all routes to the accumulation of wealth" - John C. Bogle



Asset allocation: 80% stocks (40% US / 40% International) / 20% bonds



Goals:

• Repay outstanding debt


• Build emergency fund to $6k then split savings thereafter 50% to emergency fund until $24k and 50% to funds for investing


• Invest / rebalance to asset allocation every Jan and July.

Here it goes! Thanks for reading.