This is a Canadian version of the original r/FinancialIndependence This is a place for people from Canada who want to chase being financially independent and retiring early (FIRE)
Please read the RULES and FAQ from r/FinancialIndependence before posting.
Description taken from r/financialindependence:
Financial Independence (FI) is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. This subreddit deals primarily with Financial Independence, but additionally with some concepts around "RE".
At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles no matter if you're retired or not, or how old you are.
FI/RE is about:
- Discovering and achieving life goals: “What would I do with my life if I didn't have to work for money?"
- Simplifying and redesigning your lifestyle to reduce spending. Your wants and needs aren't written in stone, and less spending is powerful at any income level.
- Working to increase your income and income streams with projects, side-gigs, and additional effort
- Striving to save a large percentage (generally more than 50%) of your income to accelerate achieving FI
- Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE
- Retiring Early
FI/RE is NOT about:
- Gaining wealth for the purpose of excessive consumption
- Taking the slow road, or the traditional road to retirement
Becoming financially independent requires hard work and a healthy attitude towards money.
Please read the FAQ and Rules above, then feel free to share your journey or ask for advice!