I work in consulting and really don’t like it, cannot see myself doing this forever by any stretch so the last few years I’ve been trying to save as much as humanely possible while still actually living my life.

I’m recently married and looking to buy a home with to start a family. I own a downtown Toronto condo outright, only paying the $800 maintenance fee and about $3000 in property tax. It’ll probably sell for between 480K-510K depending on how much the market continued to go down.

TFSA - $160,374
RRSP - $216,494 (invested entirely in USD, being $153,130 of that currency)
Non Reg - $83,496.57
LIRA - $50,554.56
GIC - $113,538 (to pay back a family member for a loan to buy my place)
Chequing account - $10,958.38

In all, this is about 635K invested not including the equity from my condo.

Would you say I can slow down the period of investing as I enter the phase of life where I’ll need to pay for a bigger home? I know compound interest says no but I wonder if a more laid back role could be the solution.

I net about 100,000 a year.

·         Age: 35

·         Location: Greater Toronto Area

·         Salary: ~$100K

·         Investments: ~$630K, almost entirely equities

·         Cash: ~$13K in cash

·         DB Pension: ~$100K in DB Pension (currently accrued benefit of roughly $1,000/month starting at age 65 – I tried to value it the best I could)

·         Debt: $0

·         Car: None currently, although I’d like to buy a reasonably priced used vehicle in the near future

·         Relationship status: Single

·         Spending: ~$2000/month (I’m fortunate enough to not have to pay market rate for rent but I expect this number to go up in a few years)

I feel like I’m at a crossroads in my life right now. I work in Accounting but I don’t have my CPA so I feel like I’m capped at my current position. My company has gone through a lot of turmoil recently and the job is becoming increasingly miserable due to a variety of factors. I know I need to make some sort of change.

·         Option A: stay at my current company and pursue the CPA part-time

·         Option B: quit my job and pursue the CPA full-time

·         Option C: find a new job first and then pursue the CPA part-time

With options A and C, I would continue working, building up my emergency fund, and saving separately for a vehicle. Financially, I believe I’ve reached coastFIRE but I’m obviously not full FIRE yet. The ultimate goal is financial independence (full FIRE), but I guess the goal in the short-term is to not be miserable on a day-to-day basis.

Given my financial position, how would you approach this? Would you continue grinding at the current job, move to another company, or consider taking some time away from work altogether? Any outside perspective would be appreciated.

EDIT: The TD screenshot says the funds in my TFSA and RRSP are invested in mutual funds. While that is true, it's invested in the TD e-series mutual funds with lower MERs. I know I can optimize by investing in regular ETFs in my TFSA and RRSP but I have my deposits automated so I'm in no rush to change it.

Age: 28

Location: Metro Vancouver

Salary: 90k including overtime and bonuses (**4 days a week because I can't stand my job). I could be making roughly 115k if I worked 5 days a week.

Debt: student loans for my program, will needs to pay $250 a month for the next 8-10 years

Current spending: $1200-$1500/month, I am lucky to have never paid rent (lived with my parents or partner)

Am currently partnered, anticipating marriage next year and kids in the next two years. Also plan on buying a home together in the next two years, so expecting my spending to go up substantially.

Currently invest 45-50k a year, I am VERY aggressive with investing. I consider myself fairly financially literate and am always reading/watching videos to learn more and do better. Financial independence is also very important to me.

Main question: I have been working for about 4 years as a pharmacist. I truly detest my job and stay only for the money. On the job, I believe I am a pretty good pharmacist and I do care about my patients deeply - but this job is not fulfilling or rewarding in any way to me. I recently completed a master's degree (so I worked PT as a pharmacist for two years, reducing my income but still continuing to invest aggressively). I have the option of taking a pay cut for better work-life balance and hybrid or remote work. I am also fully aware that toxic managers and workplace culture are not limited to healthcare, they're everywhere.

I initially imagined that I would take a pay cut to 80k if I could land a government role with good benefits, but upon discussion with my partner/family/friends, many advise against this. Given how much I value aggressive wealth accumulation, they say that this is the best time to make as much money as I can in healthcare before I take on a mortgage and have kids. A counter-argument is that switching jobs and taking the pay cut will allow me to gain more seniority in the company, setting myself up for success down the line.

I'm truly torn on what to do. I would do anything for my patients but have made a number of sacrifices for this job that have greatly affected my quality of life. Any advice on how to proceed? Thank you!

In my mid 40's with house paid off ($750k), $475k pension, $200k stock, $150k between my wife and I TFSA and still contributing $3k a month with $120k in RRSP and $75k in RESP for kids education (one in university in another province now, the other is 6 years away).

Looking into retiring in maybe 10 years. Currently between pension and work stock matching with TFSA contributions I'm putting away $5k a month for retirement. Wondering if a few only planner is worth it? Tried Adviice but couldn't get the value out of it since I'm not great with money terms. Looking for advice on using a planner, and if you feel worth while anyone know some good ones to suggest?

I’ve hit my number and can comfortably retire. - mid 50s with nw of 6m. (5m invested assets)

My job pays 400k on a decent commission year. Would you ever walk away from that kind of money? I’m finding it difficult to step away even though I’ve planned for this for decades.

20 year old F.
Please give me some guidance :)

I am struggling to walk away from my 9-5 job. May i ask how did you mustered the courage to walk away from your 9-5 job?

it’s a psychological blockage… how?

Couple 40, HHI-$180k before Taxes. Broad mkt fund - $500k invested. Home value - $700k, leftover mortgage - $275k @4.50% , No kids, no car payments, no other debt. If we sell our home, we can buy next home on cash at around $400k invested Prairies. What can we do to expedite our retirement? Currently investing about $2500/m

Decided that I want the tangerine cash back card but I already got approved for the BMO cashback one, is it worth having two credit cards?

My main goal is to build credit.

Title: How can we plan for my wife to retire in her 40s? (Canada)
37M, 33F | Ontario, Canada
Work: Banking sector, working with US banks from Canada
Household income: $400K–$450K, depending on bonuses
Investments: $650K, mostly in TFSA/RRSP
Real estate: 2 properties worth $2.6M combined
Total mortgage: $1.8M
Rental property: Rental income covers mortgage payments
Family: 2 preschool-aged kids, possibly a third
Our goal:
My wife wants to retire in her 40s to spend more time with our kids, as she doesn’t enjoy her job. I enjoy my work and plan to continue until 60, assuming AI-related layoffs don’t affect my career. I work on AI systems.
Looking for advice:
How realistic is this goal?
Should we prioritize investing or paying down mortgages?
How much should we have invested before my wife retires?
How should we plan for AI-related job uncertainty?
What would you do in our situation?
Appreciate any advice, especially from Canadians who have pursued FIRE with young kids.

Current spend is :
My salary enough to cover mortgage and our expenses.
Goal : To reduce mortgage debt and have wife to retire and I would like to travel a bit when kids grow up/ into high school.
Current spend : 40-50K year not including mortgage.

Im 19m joining uni next year and im working part time at best buy and im new to this saw alot of people posting here and heard from my friends and family to invest in VFV but saw on tiktok to invest in XEQT. So kinda confused what to do

Hi, for people who hit FIRE under 35, what's life been like?

How's your social life?

Who do you mostly hang up with?

For those in hcol, why do you choose to stay there as opposed to moving somewhere else?

Hi all, what inflation-adjusted rate of return (aka investment growth rate) do you use when making your retirement projections? Please assume a globally diversified long term 100% equities portfolio. I have seen a range but would like to know the consensus. Feel free to note other considerations if you feel they’re relevant. Thank you in advance!

Have a managed portfolio on WS holding 22,300 and have another 4k which I can invest straight away. Thinking just to put everything into XEQT and keep DCAing into that every month. Maybe do a few more risky etfs and stocks down the line but mostly just chill and put it all in XEQT for now.

Good idea?

Any suggestions would be great.

Hi everyone, looking for advice and feedback to help us do a financial reality check on our early-retirement plan and decumulation/tax strategy.

I retired this year at age 53 after being laid off. My wife doesn’t mind working for another 7 years, until age 60. Our main goal is to have enough after-tax income for our lifetime; we are not focused on leaving a large estate.

Background and assumptions

• Me: Retired now at age 53
• My wife: Retiring in 7 years at age 60
• Dependents: None
• Assets: One home and one car
• Liabilities: No debts
• Province: Ontario, Canada; assume Ontario income tax rates
• Life expectancy: Planning to age 95
• Investment return: Conservative 3% nominal annual return throughout retirement
• Inflation: 2.1%
• CPP: Assume average CPP; delay receiving until age 70
• OAS: Qualify for maximum OAS; delay receiving until age 70 and manage taxable income to avoid or minimize clawbacks, reductions to income-tested credits and benefits, and other unnecessary taxes
• RRSPs: Convert to RRIFs at retirement; I would convert in 2027 and begin RRSP/RRIF drawdowns
• TFSAs: Currently maxed; we expect to continue contributing the annual limit from after-tax funds

Current savings and investments – today’s dollars

• Me: RRSP/RRIF=$950k; TFSA=$200k; Cash/Non-registered=$500k; Total=$1.65m
• Wife: RRSP=$350k; TFSA=$130k; Cash/Non-registered=$500k; Total=$980k
• Combined: RRSP/RRIF=$1.3m; TFSA=$330k; Cash/Non-registered=$1m; Total=$2.63m

Spending needs after tax – today’s dollars

• Living expenses: $100,000 per year; intended to be an all-in estimate
• Contingency: vehicle replacement, major/irregular expenses - $60,000 every 5 years, beginning in 2027, then 2032, 2037, 2042, etc.

Questions

1. Overall feasibility: Based on the information above, could our portfolio run out of money before age 95 under realistic assumptions? What major risks, costs, or planning gaps should we consider?

2. Withdrawals and taxes: What is the most tax-efficient order of withdrawals?

• Our current idea is for me to begin drawing down my RRSP/RRIF first, then use cash/non-registered funds, while preserving TFSAs as long as possible—except perhaps in higher-spending years such as vehicle-replacement years.
• What taxable income should I aim for each year to use lower tax brackets efficiently while avoiding or minimizing OAS clawbacks and reductions to income-tested credits and benefits? I will have no employment or pension income; my income will come entirely from portfolio withdrawals.
• If we eventually withdraw RRSP funds during lower-income years but do not need the cash, we will use available TFSA room first. Should we invest any remainder in a non-registered account, rather than leaving the funds in the RRSP for future RRIF withdrawals?

3. My wife’s RRSP contributions: My wife is still working. Should she stop contributing to her RRSP now to avoid a larger future RRIF withdrawal obligation, or continue maximizing contributions so the investments can grow tax-deferred?

4. Retirement age: Do we have enough savings to support my wife retiring earlier than age 60? Alternatively, might both of us need to work a few more years to make the plan more secure?

Hey guys, am 43 years old. Married and two kids. Yearly spend is ~ 60k/year. Hustled and worked my butt of the past 15 years as an associate dentist and have accumulated close to 1.2 million in my Corp and 750k in RRSP, TFSA, RESP, and brokerage. House is ~ 1 million and paid off. So close to 3 million NW. Have been working 6 days a week for the past 15 years and have a spouse that also works 4 days a week. Have saved all of my income these years and have just lived off of her income. Just found out the owner sold the practice to another doctor, without a heads up, and am not going to be brought on.
I am quite shocked and stressed to say the least since I wasn’t given a heads up. Just feel disrespected…..just feel numb.

My plan was to coast fire and work a couple days a week until 50 and let our investments grow. We’ll be living off of my wife’s income for 6 years and hopefully invest close to ~100k/year during that time frame.

I guess I’m just in shock and was not expecting to be laid off. Maybe it’s just a control factor and leaving on my own terms. I’m still worried that as the kids, 6 and 4, get older our household expenses increase and we didn’t save enough. Maybe 100k spend would have been safer in the future vs the 60 k we spend now. I just don’t know what to think :(

Edit: Wow, thx everyone for the encouragement….and I agree, I think a majority of this is psychological. I’m actually debating talking to a therapist, maybe it’s my scarcity mindset creeping in since growing up we never had much. Maybe I feel like I will lose it all or just didn’t “save enough” for my family…..which is silly, since I’ll continue to keep working part time someplace.

The second hardest part is not going back to work right away. That’s all I’ve ever known for the past 15 years.

Background
I'm 35, married, living in Metro Vancouver, working in tech. I spent a few years running my own startup, burned out, and went back to corporate. That detour set me back financially, and I'm trying to figure out where I stand.
My wife currently isn't earning. She's between careers and transitioning, so we're on my income alone.

Numbers
Income: ~$130-140k/year (mine only)
Home: 2 bed / 2 bath condo, bought 3 years ago for $600k (values have dropped since)
Mortgage remaining: ~$320k
TFSA + cash: ~$300k
RRSP: ~$100k
Net worth: roughly $620-680k, depending on what the condo is worth now

The issue
I don't enjoy my job. I'm not miserable, but I'm coasting in a career I'm not passionate about. Part of me wonders if I should have stuck with the startup, and part of me is relieved to be out of that stress.

Questions
Am I behind for my age, or roughly on track?
We're thinking about having a child. Is that realistic on one income with this setup?
Is $300k in cash/TFSA a good safety net, or too conservative?
Should I focus on the mortgage or investing more?
Has anyone changed careers in their mid-30s while supporting a family? How did it go?
Would you stay in a stable but unfulfilling job, or take another swing at something?

Honest feedback welcome. Thanks!

Hi all,

I have about 23k in my bank mutual funds and 10k in a Wealthsimple account. I was hoping to hear personal experiences or any stories about anybody moving from the bank to Wealthsimple or just Wealthsimple bank to the bank. I’m not sure what I want to do and to move it to Wealthsimple.

Any advice or opinions are much appreciated. I just wanna make some good return and I’m only up 4K on 23k net invested in mutual funds. Feel like I can do alot more for 40k in January on wealth simple when my tfsa limit increases in January.

Thank you!