How many of you would pull the trigger on retirement if you were under 50, $3m portfolio, paid off home, good health and young family?

Would you work part time? Would you peruse other goals? What would fill your day?

This is my situation. I am a high income earner with equally high burnout.

Edit: Would need $150k per year and I know the math can work

Thanks in advance.

Thank you all for the great information. It has really helped.
Curious about people's experience with Barista Fire in Canada. I know it was based on a health care job in the US. And I know about putting numbers into Advicee (or what ever that tool is).
Just want to hear real examples, of what people have done?

Looking for some thoughts…

My girlfriend and I hope to have about 750k combined in the next 10 years to move abroad. Shes a lawyer, I am a teacher. Our only expenses are groceries and anything else on the credit card bill. Not paying rent and will not have to in the future (living with family). Aiming to live off of my salary and invest hers. Currently invested 60% VGT, 40% SMH. I understand it’s all tech concentration…. We can stomach the downturns which is why it’s all VGT/SMH right now. less

Hi, I do not know if this is the right place. I am a Canadian who is trying to build the most comprehensive FIRE calculator available for free online. I am just hoping to receive some feedback on what I could/should improve as well as any feature I may be missing. (Any input is appreciated)

https://wealthfunnel.net/calculators/fire

Hi everyone,

I'm a 22 years old female student who started PA school in Canada this year and looking for some advice. While I understand I'm in a fortunate position, l've been able to do well financially because I've always loved to learn and seek advices from others. I'm not really good with finances, taxes, accounting and all but | love to learn everyday so any advice/opinions is a learning opportunity for me!

Background:
I've been fortunate to stay at home during my undergraduate and i will stay another year before starting clinicals next year. This is how I've been able to save so much.

Some context:
- TFSA is maxed out and I will have an extra 7000$ to add next year
- FHSA is maxed out (unfortunately, I wasn't sure if I was staying in Canada hence why I only have 16k of room). I will add the extra 8k next year as well
- I have around 28k in an unregistered. My plan is to cash out next year (I won't be working much due to school so hope to get minimally taxed). This money will be used to max out both my FHSA and my TFSA.
I don't know yet what the rest will be used for.
- I have a GIC opening in October and that is around 35k which cover my tuition and some extra for emergency
- I have a bit on cash (3k) in an emergency hysa but I'm not too worried as my only bills is my phone and I have no debts
- I do not want to open my RRSP right now as it's a bit much of a commitment for me to bank money for retirement at only 22 years old

I'm super grateful to be in this position especially due to my parents who have always push me to learn finances.

Here's are some plans that I have
- I plan on banking my FHSA tax reduction until my
PA salary as it might be a lot more advantageous. I also asked my jobs to take a higher percentage of taxes on my paycheck (35% ish) so I'm expecting a refund no matter what
- I’m thinking of applying for provincials loans for school (I obviously don't qualify for bursary lol) and with those, I would like to reinvest my GIC another year since loans are 0% interest until graduation
- I might be able to work a bit during school. Maybe not enough to save, but enough to not touch my saving either if that make sense
- I do have a fully paid of car and plan on driving it until the wheel falls out

I would love anyone opinion, if they would do something differently, if I'm thinking about this too much!

I got about 160k in my tfsa in xeqt, I was thinking of buying a condo or something to rent out seeing how real estate has dropped. What are your thoughts on being a landlord or thoughts on the matter in general

Hi. Can anyone explain to my like I’m 5 please on TFSA and FHSA?

TFSA questions, can I put in as much as I can before my room fills up? Say I have 24k, can I put it all in right now? The limit only matters once Im full and need a new year added? XEQT seems to be hot topic and safe choice, what is cash.to and is it better worse or same same?

FHSA: what do I do with it? Invest as well? After 40k can it continue to grow with investments? What is the safest option to invest for that money? When does it roll over into RRSP?

Thank you :)

Hello, I'm 25 years old and I've been saving diligently for quite some time now and have accumulated a good amount in investments (low-mid 6 figs), mostly by living like a monk and putting a big % of my monthly income into stocks, and having some extra income from my side business.

However, I'm getting to the point where money doesn't really feel "real" anymore, and I'm becoming a bit more reckless with spending.

On the spending side, I find myself not looking for the best deal anymore, and overspending on BS, just because I don't "feel" any impact from spending a couple hundred bucks here and there.

Another problem is I feel like I've ran out of consumer things to buy as I have literally everything I ever wanted, but whenever I do spend, it has to be the "greatest thing" so I end up splurging on stupid high-end stuff which the excitement wears off from just as fast even if I spent a fraction of the money. (Hedonic adaptation I guess)

Its kind of funny because when I was younger, I would definitely feel it, as every dollar counted, and I would really try to stretch my money as far as possible.

Also, every time I add $ from my paycheque to an investment account, it becomes a smaller % of my overall investments, so it starts feeling like it makes very little difference adding more.

Is this just normal? I guess I'm at the point where I don't mind spending a bit extra for my sanity, but at the same time I don't want to devolve into blowing all my money thinking I have a ton, and then next thing you know I've spent it all.

Are the fatFIRE type people just insane to be so focused on stacking millions?

I've been tinkering with my retirement planning. It is based on 95k per year in spending. Any thoughts or comments appreciated. You can see the drawdown order in the second image. The estate bill is 0 because the TFSA and principal residence grows over the years and does not really get drawn down aggressively. Used goretire.ca for the projection. Here are my questions:

1. For the pros out there, can I optimize this further? Is the drawdown sequence right? Am I missing something?
2. For everyone else on the FIRE journey, would you prioritize increased spending or leaving money for your family? I'm struggling with that. The estate obviously balloons quite large over the next 40+ years. I feel like I might struggle to spend more than 95k per year though, I live a frugal lifestyle.

So I just started investing. I put my first $200 towards XEQT.

I have no credit card debt (I always pay my card full when it’s due). I have a car loan but with a great interest rate at 6 percent and about to pay it off in the next 2 years without any additional payments.

I am employed and make approximately 4,500$ a month after tax. I live in British Columbia so my rent is high and added my car payments, credit card bills. I’m planning to invest approximately 500$ every month and leave the rest for my normal savings.
I’m also living more frugally now because I am serious about money.

All that being said, I keep feeling like I’m missing something. But maybe I’m not?

How do I grow my money? I did some research on XEQT and how it has performed and how diversified it is and felt like it was the most low risk thing to do.

Should I keep putting a part of my income into the market? And if yes, is it okay to repetitively invest in XEQT alone for years?

I’m 30, and make about $5,000/month after tax. I want to get serious about building wealth and making my money work for me.
If you were in my position, how would you approach it?

Been a goal of mine for a while and finally crossed it today!
(well technically a couple weeks ago but i didnt login to my portfolio that day and missed it).

And due to some lucky(risky) plays i was able to hit it sooner than i expected. (I got pretty lucky with AI stocks like SNDK, IREN, MU this year )

I know im probably a bit behind, but this has been a milestone for a while and thought id share it.

Hit generational on Friday. ~700k total NW.

I (M, 23) have monthly contributions that automatically go into my TFSA and RRSP. Both of those are set to max out at the end of the year.

I have approx $5-6k that I was thinking of investing somewhere. Pretty new to the investment world, heard rumblings of opening a Non-registered account as the next thing if I find myself in a position like this.

Tried chatting with the parents for some advice, but you know how the older generation gets sometimes about this stuff haha.

Is that the way to go? Should I do something else? Open a different account? I do all of my finances through IA financial and Manulife.

Be honest, I hardly know what I’m doing I’m trying but I’m wanting to invest into good companies that will make money over time ofc, I head of VFV and XEQT etc what should I invest into for long term gain?

I’m just throwing this post out there for some extra advice on what else I could look into or if anything needs correction.

For context:

21, Living at home. In university for Accounting + Finance (I graduate this year) expecting 60k a year out of school. I am very blessed as I have very successful and supportive parents who let me live at home rent free + pay tuition.

Current situation:

$4k savings, $1k chequing for about a 65k NW.

1 credit card (fully paid each month, RBC Ion+) 800 credit score (got it on 18th bday so around a 4yr history)

My expenses are: Parking pass, gas, car insurance, phone bill, helping with groceries occasionally.

I have a long term girlfriend (3.5 years) who is graduating this year and will be at $70k a year (confirmed) starting in fall ‘27 (she has roughly 4K NW rn.)

My portfolio is I’d say like 95% equities, 5% FI (through ETF’s such as XBAL in FHSA)

I’m mostly split up between VFV and XEQT but I also have some small individual holdings such as gold that I bought in July before it went crazy and Google ($8k between the two)

Future plans:

So , obviously I think (hope) I’m doing well with the amount I have invested + my habits.

I have a trip planned in November with her.

My goals are to eventually buy a house with my girlfriend and build up an incredible portfolio while I’m young to get the maximum compounding possible.

I think I’ll move out in 2 years and get an apartment with my girlfriend (to live with her before marriage because i believe that’s a very important experience before a lifelong commitment)

Other than that I’ll probably buy a car/truck in 2-3 years with her.

Only issues I think I have financially and health wise I guess is that I spend too much on like food and stuff (shocker)

So , is there like anything else that I should be doing and any changes I need to make?

Please let me know and thank you for reading :)

Just started about 5 months ago, domt feel like I know what I’m doing very well. I DCA in VFV and XEC, was thinking of adding some things just not sure what. The 9k in CASH.to is student loan money I haven’t needed to use but don’t want to risk in actual investments, with 21k total of my $ across WS and BMO is loaned. Also just opened a FHSA wirh 4K in it currently uninvested. Thanks for any tips!

Hey there, just some questions as a newcomer to this game.

1. Do I open the FHSA via RBC banking app?
   
2. Self directed route or the managed route?
   
3. Is this a smart move or is the meta a different app?
   
4. I plan on investing about 550$ a month into it and have 0 knowledge on the investment story late game prog. Do you have any additional information to help get me started?

For all my YouTube heads out there, Togi’s mom invested a quarter million in GoPro shares today because Markiplier is a 10% holder and apparently he knows ball.

I’ve still got 30+ years until retirement and having trouble figuring out what %return every year to rely on to predict what my coastFIRE number is (knowing the market will be unpredictable especially over that long period of time).

What’s the standard return y’all are using?

I had a big reach goal of hitting 1000 shares of XEQT in my TFSA this year and I just made it! I have prioritized contributing small amounts monthly, plus I received a general bonus from WealthSimple for referring my partner which accelerated my progress significantly. I honestly wouldn't have hit this milestone without the unexpected bonus, so I'm really grateful!

I never used to celebrate any milestones, but I'm trying to now in an effort to enjoy the journey.