Hello there!
Welcome to Findependence Canada, a blog we’ve started to document our journey to F.I.R.E. (Financial Independence Retire Early).
We’re a half Canadian, half British married couple in our early 30’s residing in Northern Canada with our son and dog, chasing early retirement by the age of 40.
Why F.I.R.E.?
We’re pursuing F.I.R.E. largely because we want the flexibility to choose what our life looks like in a more complete way than we currently do. We both love to travel and new experiences, so we’re keeping our views WIDE OPEN for what we do after this chapter in our lives. We want to have the option to do many things, like move back to England and spend time with Mrs. FIC’s family, or maybe spend time living in one of the great countries we’ve visited and plan to visit like Portugal, Spain, Panama, New Zealand.
While we don’t know exactly what the future will hold, we’re positioning ourselves and our boy to have options to pursue what makes us the happiest. All while living a pretty great life here in Canada.
How do we plan to achieve this?
Our “master plan” is to use dividend investing to unlock financial freedom. Every single month we move as much cash as we can spare into our brokerage accounts in order to purchase ourselves more passive income!
So how much passive income do we need?
Well. Our real “FIRE number” is something around $50,000 per year. But – there is a bit of a catch to this number.
What we plan to do is hammer down in our current lifestyle, continue saving 50%+ of our take home pay and get to at least $30,000 in passive income before stopping to do a reassessment of where we’re at in our journey.
At the $30,000 mark we’ll be asking ourselves if this is still a life we’re enjoying and if there are maybe other things like being closer to family or taking on new challenges that pique our interest. We’ll have done the heavy lifting at this point and will consider taking a step back in pay in order to perhaps live in more desirable areas of the country and things of that nature. Again – nothing is set in stone for us.
In the meantime…
In the meantime we’ll continue educating ourselves and hopefully our readers on things like the stock market, taxation and F.I.R.E. topics like geographical arbitrage all while working hard and taking trips around the world to help figure out what comes next.
So if you’re interested in seeing if this now 32 year old couple can buck the trend and retire by their 40’s then follow along with our journey, we’re glad to have you on board.
Enjoy,
FIC.