Lawyer, 26, tells how she went from $3,000 in debt to a net worth of $180,000

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It took $3,000 in credit card debt for young Sydney lawyer Aleks Nikolic to tackle his bad spending habits and get on his way to amassing an impressive net worth of $180,000.

The debt took nine months to pay off and caused her to focus on financial security and stability, which meant finding ways to make her money work for her rather than the other way around.

The 26-year-old says investing is one of the keys to ensuring you “boost your money” to gain financial stability over time.

“For me, investing was the not-so-secret sauce of how rich people got rich; they understood that a dollar earned could be multiplied simply by putting the money to work in an investment property, the stock market or a company,” Aleks told FEMAIL.

Sydney solicitor Aleks Nikolic (pictured) was $3,000 in debt five years ago before he started building his investment portfolio Today, she has an impressive net worth of $180,000.

The 26-year-old says investing can

The 26-year-old says investing can ‘grow your money’ and make it work for you

Aleks started investing just $15 per fortnight. As his income increased, so did the amount.

His net worth is calculated by deducting his debts from his assets, which include a stock portfolio of $105,000, possessions of $350,000 and savings.

His liabilities are his mortgage and HECS debt of $79,000.

Today, she invests at least $400 a fortnight – sometimes as much as $1,000 – and hopes one day to be able to afford a house in Sydney.

“I mainly invest in exchange-traded funds with a few select individual companies. I use Pearler because I automate everything and it comes out of my payroll like an invoice,” she said.

Before using Pearler, Aleks used Raiz – a perfect micro-investing app for beginners who can invest as little as $5.

In 2019, she also bought her first $300,000 two-bedroom property in Canberra while living in Sydney.

Before buying real estate, she said it’s important to consider location, ongoing costs and tenant in this market.

Those who choose to buy a home in a state different from where they live are considered “rentinvestors” and may not be eligible for first-time homebuyer grants.

Aleks started investing with just $15 a fortnight, but as his income grew, so did the amount.  She started out using the micro-investment app Raiz and now uses Pearler

Aleks started investing with just $15 a fortnight, but as his income grew, so did the amount. She started out using the micro-investment app Raiz and now uses Pearler

In 2019, she also bought a $300,000 two-bedroom investment property in Canberra while living in Sydney.

In 2019, she also bought a $300,000 two-bedroom investment property in Canberra while living in Sydney.

“Honestly, I want financial stability. To me, that feels like passive income that pays my bills and my lifestyle,” she said.

“I love my job but I want to do it for love, not because being fired would put me out of business.”

And while having $100,000 in the stock market can seem daunting, Aleks said it’s not something to be nervous about.

“The biggest fear people usually share with me is, ‘What if I lose it all?’ The only way I can see that happening is if you sell at the bottom of a market downturn (like the crisis financial world) or if you have all your eggs in one not-so-good basket,” she continued.

“With a long-term view, I’m ready for the downturns – maybe even the biggest and longest!” As long as you think long term and have an emergency fund, “fear” can be managed by being diversified (not having all your eggs in one basket).

“Honestly, I want financial stability. To me, that feels like passive income that pays my bills and my lifestyle,” she said.

Aleks learned everything she knows about investing by reading books, blogging and listening to podcasts – and encourages others to do the same

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Aleks learned everything she knows about investing by reading books, blogging and listening to podcasts – and encourages others to do the same

Aleks learned everything she knows about investing by reading books, blogging, and listening to podcasts — and encourages others to do the same.

“I think investing is actually a lot less complicated than it sometimes seems, which puts people off,” she said.

“Use your money to build the life you want.”

What are the best investment platforms in Australia?

Raiz App

Spaceship Voyager App

CommSec Pocket App

Revolution

Shares

beader

eToro

CMC Markets

* When choosing a platform, it is best to compare what each platform offers and the fees included

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