r/FIRECanada

Hi folks, like the rest of us looking for advice and opinions. Please, for my sanity.🙏

41m, 3 kids preschool. Busy times. L to MCOL. Have both a real world career, and a "side" business that is seasonally busy with family. About 1M in market investments. Wife SHM.

Real World Career- 150K/yr , Business- 100K /yr

The dream: decent house, some travel. But we don't have any expensive tastes, no debt, pretty simple people. More into outdoors then toys.

Option A- Leave real world career now, receive immediate pension around 75K. Business fairly consistent income for next 6 years (solid contract.)

So, 175 as ball park. Half the stress. Room for growth in business. More time at home.

Option B- Stay for up to 5 more years. Each year adds about 5K pension. So 250 a year for up to next 5, then 100 a year pension after.

Right now all business income is just invested. Budget for year right now is about 100k, and mortgage is done this summer which frees up 25K a year... Figured I'd keep in budget for surprises or purchases.

I value time, kids, and reducing stress now more than anything. I should also mention I have lots of skills, project work and things here and there would easily be an option if needed, just have had to turn most down now due to time. Seems crazy to leave at peak of career, but, I don't enjoy much of it anymore and have worked hard to save.

TIA

🙏

https://takehome.tax/

It is just my initial version, I include the comparison feature between offers&provinces.

Any feedback is welcome. I will implement what you guys think is important :)

I myself found it funny to have comparison lol

https://preview.redd.it/2ijb9k45gryg1.png?width=3020&format=png&auto=webp&s=3b6e02104f06c38dd2b32fe088814f76135fbc18

https://preview.redd.it/hejem9v1gryg1.png?width=3020&format=png&auto=webp&s=5fbbafb02087b2100170c5db1d71bd17bbd1bedd

https://preview.redd.it/pi5p8ye2gryg1.png?width=3020&format=png&auto=webp&s=969b5ccfa5d6215e50db685e33c5b88c4d0e6603

I just got a 25% increase in my annual premium for my home insurance. It kind of make sense climate change has driven up a lot of disaster events and destroying properties. On the other hand this feels more like a scam from insurance company …..
Do FIRE practitioners buy home insurance ? On one hand it’s a big spend, on the other my home is my biggest single asset I rely on to live in…

I live in a city condo. I doubt there’s major climate risk event but I’d never know…

Any suggestions welcome. Thank you .

Would you quit your full time job if you had more than $6M CAD?

$4.5M in investments

$1.5M house (around $1.5M–$2M value with ~$600K mortgage)

I’m 35, work in tech, and recently crossed a bit over $5M net worth.

The weird part is I can’t focus on my job anymore.

I make good money ($300k), work isn’t that stressful, and I know I’m in a better position than most.

But mentally, it’s like a switch flipped. I don’t feel urgency, deadlines don’t scare me, and I keep procrastinating or just zoning out.

Hi all,

My wife and I are thinking more and more about retiring and I'd love your opinion and target number. We live in a HCOL Area. We don't own any house, we rent. We have no car we use Transit to go to work. We don't plan to buy a house because we don't know, long term, where we want to stay and renting is more flexible. Maybe when Older and we will buy a place.

2025 expenses:64k Rent account for 21K and vacation for 18K.

Cash: 330k - Including 186k worth in euros

Investment: 1.6m - mostly in non registered as we came to Canada 5 years ago. 1.2m in GAFA which we are selling little by little every year to derisk. We should be out of it in 6 years for XEQT / VT instead.

What target would you put to yourself in this situation? What would you recommend

Long time lurker first time poster.

42m 39f

Wife and I have been grinding to hit our numbers.

We have been non residents for 3 years and saved quite a bit. With things souring in middle east we are making a plan to come back to Canada this Jan and our future plans discussion has kicked off again.

Wife is very anxious and rightfully so about her jobs and future. She left her industry and has been working with me in mine for past 3 years. It's kind of related. She's super smart and I think able to get a full time role if she wanted in her or my industry when returning.

The thing is we just need a few more years I feel at this rate to hit some solid numbers. She's terrified about the idea of nothing to fall back on or stopping working. Is this normal ? For me I can't wait to stop lol.

2 homes paid off about 2.3m in equity.

1 of them a rental at 33,000/year.

By Jan 27 projecting about 2.2m saved ( invested )

I want to work for about 10 more years and at this rate maybe be at about 6m cash saved.

We also have high life insurance policies etc.

God willing , our health first and most important , if things go to plan , I feel this is a very comfortable retirement.

Let's say things don't go well and we end up with 4m saved in 3 years and that's the best we can do.. we can sell rental and take that 1m and invest it with the rest. Total 5m

Is this reasonable? Or should I also be as anxious as her and I'm out of touch ?

5m @ 4% is 200k/year.. car, home paid off, take a few trips a year, kids future Univ already put aside.