This post is based on an interview we conducted with James in June 2025.
Real Money Talk is our series where we interview Australians from all walks of life about their personal finances. The views expressed are those of the interviewees, based on their experiences with money, and as such are not necessarily representative of Spaceship's views. As they’re shared in good faith, we haven’t verified these accounts as factual.
We have changed the name of the interviewee for their privacy.
In this interview
- Overview - $712k net worth breakdown and how James built it.
- Earn - From maritime worker to marketer to firefighter-in-training.
- Save - Why he stopped saving and how he furnished his house.
- Invest - Dollar-cost averaging, ETFs, and turning $20 into $7,000.
- Behaviour - Money lessons, mistakes, and why James ignores his super.
Overview
Name: James
Age: 35
Where do you live? Townsville, Queensland
Please tell us a bit about yourself.
After quitting my career in marketing two years ago, I've been travelling Australia for the last 12 months reconnecting with old friends in the beautiful Kimberley region of Western Australia.
I'm currently training to become a firefighter, focusing on my fitness and overall health.
What's your current net worth?
$712,600
How does it break down?
- House equity: $440,000
- Superannuation: $63,000
- Crypto: $133,000
- Shares: $16,600
- Silver: $40,000
- Vintage guitars: $20,000
Do you have any debts?
HELP debt: $12,000
How did you build your net worth?
I bought my first home when I was 25 when the market was more reasonably priced. It's an old Queenslander that I've been renovating and improving on and off over the last 10 years.
Teaching myself how to renovate has not only been rewarding but has significantly increased the value of my home. I'm always looking to learn new skills and will always play the long game when it comes to investing in anything.
I also have great parents that taught me how to manage my finances. Boomers get a lot of flak in today's world, but I advise young people to learn as much from them as possible before that knowledge is lost.
I think they have the most well-rounded knowledge about most things (including investing) compared to any other generation that has come before us.
Earn
Tell us a bit about your career.
I started working in the maritime industry and was lucky to set myself up in my early 20s working on a Queensland gas project that lasted five years.
I went back to uni and studied marketing and after a couple of years in the industry, I realised I'm not designed to sit at a desk and stare at a screen for eight hours a day.
I'm now training to become a firefighter.
Do you have any income sources outside your job? How much do you earn from each and how did you develop them?
Not at this stage.
What's been important for you to learn about money?
Read as much as you can about investing but make sure it's something that interests you. Investing isn't confined to the stock market.
If classic cars, Pokémon cards or whatever it is that piques your interest, then you'll be more successful investing within that niche. There's nothing really sexy about shares…
I also believe that you should never give your money to anyone to manage (stockbroker, financial adviser etc) if they also don't have the same reward/risk ratio as you do with their own money.
Do they also have skin in the game? Chances are they don't.
Save
What's your savings rate? How has it changed over time?
I haven't saved for a few years now. I've been travelling for 12 months and I work casually to support my freedom.
In my 20s I was a lot more frugal and saved weekly, but since purchasing my home I am comfortable with where I'm at financially.
I also try to remind myself that this wonderful world that we all get to enjoy is temporary.
Do you have a budget?
Not at the moment, but once I stop travelling I'll start saving again.
How much do you spend per year?
I have no idea.
Do you make purchase decisions carefully, or are you loose with your money?
It depends on what it is. Last year, I found a retired farmer on Facebook marketplace who makes and sells furniture out of solid, beautiful, rare Australian timber at a very reasonable price.
My house is now FULL of his furniture!
You probably can't buy his craftsmanship and timber anywhere else in Australia, so I jump on things when I see value in them even if the timing isn't right for me financially.
Plus, I now have a new mate and a retiree has some extra cash for his weekend punt. Win, win.
How is your work-life balance?
Honestly, I've been having a blast not working full time in an office and just travelling and working casually.
I worked hard in my 20s and it was probably skewed to too much work. Now it's definitely skewed the other way.
How it should be, baby!
What's your favourite thing to spend money on?
Guitars. I have about 30 of them.
Who doesn't love the guitar? Exactly.
Invest
How do you invest?
I mainly dollar cost average. That's why Spaceship is so great. Set your amount, set your interval and then check it every six months.
If you invest and then have to constantly monitor it out of fear that you'll lose your money then to me, that isn't investing.
Also, ETFs. All day, every day.
What's been your best investment?
Bitcoin and Ethereum, I got in early. Silver and Netflix shares have also done really well for me.
I also bought $20 worth of Dogecoin in 2017 and sold at the end of 2024 for $7,000.
I always play long, if I can.
What's been your worst investment?
When I was starting out I was picking individual shares to buy and some did well and some didn't. This is when I didn't have my investment philosophy and was still learning.
Overall, I probably broke even.
I think because of my long term investment view, it has generally protected me by default from making isolated decisions that can go south quickly.
What's been your overall return?
I have no idea.
How are you building wealth?
Investing regularly, even if it's a small amount.
What are your main roadblocks to building wealth? How are you addressing them?
My constant travelling. Since leaving school, the longest I've lived in one place is three years. I hate routine. With a passion.
I've been lucky to live all around Australia and overseas and while moving around presents great opportunities it's also a hindrance in building on something for the long term.
I'm looking to change that next year…until I get itchy feet of course.
Do you have a target net worth you want?
Not really. If you have a good general relationship with your finances then you'll be fine.
Behaviour
When did you make your first significant behavioural shift towards wealth building?
When I started to earn good money and saved a substantial amount. I started thinking of what I can do with my savings to generate the highest rate of return. e.g. term deposit, shares, etc.
It's generally hard to think about wealth building if you're getting by on a weekly basis.
If you could start again, what would you do differently?
Invest regularly, even small amounts.
The only person who has your best interest at heart regarding your finances and investments is YOU.
What are some mistakes you've made along the way?
Probably listening to friends' advice because they have made an investment and you follow suit.
It feels safer because you're now in the same boat as someone else, but these usually work out to be the worst investments you'll make.
Do you have any worries about retirement? If so, how are you planning to address them?
I treat my superannuation like a sum of money I probably won't receive.
If Australians my age and younger think that our super isn't going to be taxed more or if the retirement age isn't going to increase by the time we retire then I think we're being naive.
I pretend like it doesn't exist and am not relying on it for retirement.
How are you learning about building wealth?
Family, books, podcasts.
I probably read more about investing in my 20s than I do now. I'm more interested in business ideas and ventures now that I'm in my 30s.
Do you give to charity? If so, what percentage of your time/money do you give?
No I don't. I prefer to give money or food to people I see in the street who need it.
We want to hear your Real Money Talk
At Spaceship we're big believers in sharing our money stories. We want to hear yours, too. In our ongoing Real Money Talk series, members of our community share what they've learned about managing money. We'd love you to take part. Here's a link to our Real Money Talk survey where you can share your story.
