Investing Strategy: Dave from Strong Money Australia


I am so excited to be able to share the Wealth building strategy from Strong Money Australia.

Dave and his partner bucked the trend at a very early age and instead of consumer goods, saved and invested aggressively.

The blog, Strong Money Australia, is very relevant to high income earners, whether they are striving for early retirement, or just financial peace.

Thanks so much Dave for sharing this week’s wealth building strategy: Investing in a diversified share portfolio.

Each week, I have asked a finance blogger or podcaster to share their personal wealth building strategies. I am hoping these will be useful to compare lots of different strategies and perspectives to provide ideas and insight in your own investing journey.

To see all the wealth building strategies shared with Aussie doc freedom, check out the Ultimate Step by Step guide to Wealth building, with wealth building strategies.

Name/ Online identity:   

Dave from Strong Money Australia


“9 to 5” profession:   

None now, haha!  I worked as a forklift driver/storeman on my FI journey.


Editor: I’m mortified to admit I made a mistake in the original version of this article. In my simple mind forklift drivers in Perth work in mines. But apparently this is not true. Neither Dave or his partner worked in the mines during the journey to FI. Sorry Dave!

Side Hustles:   

Never had any.  I did overtime to earn extra cash which was quite effective!

What are your investing goals?  

Simply to continue growing our portfolio over time and have it generate increasing amounts of income.

What is your investing time frame?  How far along are you? 

For the rest of my life.  I’m in my early 30s now, so I’ve hopefully got another 70 years or so 🙂

What the most powerful wealth building tool available to you? 

At this stage I guess it’s my ability to earn more money if more wealth is desired.  Other than that it’s simply about continuing to make half-decent investment decisions.

What wealth building habits are you utilising to reach your goals? 

Keeping our living expenses from blowing out.  And investing on a regular basis, regardless of what’s happening.

What is your strategy to achieve this? 

Investing in a diversified portfolio of income producing assets (shares).

How long have you been using this strategy? 

Around 5-6 years now.

Were there other strategies before?  If so, what made you pivot?  

Yes, we invested in property before that.  I realised that even if our properties were paid off the income would be woeful due to all the expenses.  Also the growing realisation that leverage doesn’t always work out that well, especially if your timeframe is relatively short (like ten years).

Where do you stand on home ownership vs renting? 

My feelings on this change as the numbers change.  Both have their benefits which I’ve written about extensively – here’s one example.  Renting has made sense for many years, but now with mortgage rates at 2%, buying is pretty attractive.  Even once expenses are included, the monthly costs will be pretty similar to renting, yet you get the other benefits of home ownership.

Where do you stand on the great property vs shares debate?

I actually think shares make the most sense in many cases.  Property leverage can turn out great, but it doesn’t always work that way. 

It’s 100% reliant on capital growth, which is very sporadic and unreliable, not to mention the enormous upfront and ongoing costs of owning real estate.  Plus, we don’t really have strong cashflow property here in Australia (except commercial), unlike our friends in the US.

You often need a couple years of growth just to break-even when you consider the upfront costs and possibly ongoing negative cashflow from the other ongoing expenses. 

Then the market might be quiet for a couple years.  Then you get a couple years of growth, and then you might be at the end of a 10 year FIRE journey and need to pay tax to reinvest in an asset that actually produces decent income!

Shares are simpler, you simply keep adding cash and making relentless progress every month.  It’s extremely low cost.  Very little hassle, very little paperwork, and none of the headaches around tenants, property managers and so on. 

It’s also extremely easy to be highly diversified and own lots of dominant cash producing companies, whereas property is a very concentrated bet on one asset in one location and one local economy. 

Where do you stand on investing for capital growth vs income? 

Both are important obviously.  If you get no growth, your income will be going backwards after inflation.  So it’s really a spectrum. 

I want to invest in assets that have both a decent income and decent chance of growth over time.  In retirement, I love receiving income from our investments – it’s enjoyable, effortless, and really captures the essence of passive income and FIRE I think 😉

Do you have any financial regrets? 

Not really.  Being so one-eyed about property in the beginning probably wasn’t a good idea.  So I now try to keep an open mind about a lot of different things. 

Any final suggestions?

Being adamant that there is only one way to do something is usually wrong.  There are many smart people out there with seemingly opposite ideas (whether it’s investing, nutrition, whatever) and they can both be successful. 

It’s about finding what works for you, and letting other people do their own thing.

Aussie Doc Freedom is not a financial adviser and does need offer any advise.  Information on this website is purely a description of my experiences and learning.  Please check with your independent financial adviser or accountant before making any changes.

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