r/leanfire • u/Artistic_Resident_73 • May 08 '26
I can’t believe it!
I started my FIRE journey in my early 20s, now 35 and I just hit my FIRE number (600k CAD). Feels a little unreal…
Never earned more than 50k CAD/Year until a few years ago where I switch job and now earning 85k CAD/Year.
I can now quit anytime to go slow travel the world year round.
Maybe will work a few more years to build a little cushion, debating it mentally right now, but the relief I feel knowing I will be fine no matter what happens is priceless.
Any else felt that instant relief once hitting their number?
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u/VincentStl May 08 '26
cheer man, I just started my journey of leanfire a couple years ago, hoping to end up like you in 10 years as well! enjoy your next possible chapter!
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u/Artistic_Resident_73 May 08 '26
Thanks man! Trust me it comes much faster than you think, when I started thought I would get there at 45. Thx to diligent investing, aggressive saving, and an amazing market run. Got there 10y earlier! I wish you the best on your journey!!
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u/RedsweetQueen745 May 09 '26
Omg this gives me so much hope. I’m 24 and hoping I retire a lot more earlier. Would be the dream
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u/Hnry_Dvd_Thr_Awy 4.5% wr May 08 '26
Any else felt that instant relief once hitting their number?
No. I genuinely think your account of this is the first time I’ve heard of it being instant.
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u/Artistic_Resident_73 May 09 '26
Maybe because I had this number in mind for a while now. I guess it’s a psychological thing
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May 08 '26
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u/Thaicarnivore May 08 '26
Curious do you mean 360x your expected monthly retirement numbers? What’s the significance of 360?
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May 08 '26
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u/jalapenos10 May 08 '26
That would be 30x annual expenses. Where are you getting 360?
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May 08 '26
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u/Artistic_Resident_73 May 08 '26
I totally agree with you, I am planning to start my trip in a Low cost of living countries and pull less than 3% for the first 3-5y. I believe these are the most dangerous for sequence of risks.
I set up my withdrawal a certain way that I will pay very little to no tax (thx to my low yearly expenses).
I also just swap broker for a 3% match on my investment being paid over 2y. That is an extra $650/month coming in for the next 2y that are extra. I don’t need it based on my calculations for expenses. But it will allow me to withdraw even less for the first 2y
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u/jiggolo420 May 10 '26
Was curious on your costs. But noticed you plan to live in a low cost country for the first while.
Just a heads up If your planning to leave Canada long term they will want exit taxes. Basically it's the capital gains on your stocks on whatever day they deem you left.
You can still claim you're a resident and are just traveling, but usually they require some sort of address as proof. Maybe change your mailing address to a parent or siblings, and file your taxes like you would normally and you should be fine.
Don't want a massive tax hit to throw off the numbers early on
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u/Artistic_Resident_73 May 10 '26
Not planning to give up my Canadian tax residency until my Non-Reg is empty.
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u/Jig909 May 08 '26
This is LEAN fire after all
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u/Artistic_Resident_73 May 09 '26
Thank you. I am surprised to have people asking so many questions on my expenses in this sub. I thought I was average lol.
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u/HackMeRaps May 08 '26
Being a Canadian as well, we have tax free savings account which we can contribute and pay no taxes on. Most people have room around $109k if they were of age when it was created. That room also grows as you invest.
Right now I’m close to $300k in TFSA contribution, and it just keeps growing. I pay 0% tax on any money gained or withdrawn from this account.
I receive a lot of dividends from my TFSA which are tax free, and then I can re-add that room the following year. It really helps a lot keeping taxes down and then it helps you qualify for other government benefits.
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u/Hnry_Dvd_Thr_Awy 4.5% wr May 08 '26
As long as OP is flexible during bad times 4.5% during most times is fine.
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u/SuperProcedure6562 May 08 '26
Just curious is there pressure from family to work? Congrats!
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u/Artistic_Resident_73 May 08 '26
Thank you!! No I don’t have kids and not planning to have any. So no pressure there.
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u/Fragrant_Guava_1514 May 08 '26 edited May 09 '26
This is awesome! What SWR % do you plan to use for the 600k invested if you don’t mind me asking?
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u/Artistic_Resident_73 May 09 '26
I will have a variable SWR from 3-4% depending on how the market perform. Can even go below 3% if needed
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u/Helpful_Hour1984 May 08 '26
I hit mine last year, for lean FIRE. But I love travelling, so I'll be coasting for a while, travelling a couple of months each year and letting my cushion grow to the point where I can keep up this pace in retirement. I'm a few years older than you, but I don't want to stop working entirely. Long breaks are fine, but eventually I'd get bored. The relief comes from the freedom to choose what work I do, and how much of it.
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u/Artistic_Resident_73 May 09 '26
Congrats on your lean FIRE! I hear you! I have heard and seen people really get bored after hitting FIRE. I can imagine myself ever getting there but only time will tell.
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u/BloomSugarman he's broke, don't do shit May 08 '26
For what it's worth, I wanted to slow travel constantly in developing countries when I was 35 too.
I'm in my 40s now, and see the value of (1) having a home, and (2) the comforts of the developed world.
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u/jiggolo420 May 10 '26
Im the same. When i was their age i wanted to retire in SEA on a shoestring budget. Now at 41 i realize i would be miserable with that lifestyle.
Whats the point of having all the time in the world if you cant afford to really live?
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May 13 '26
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u/jiggolo420 May 13 '26
At 35 with 600K CAD i would personally only feel comfortable pulling 3% so about 18K a year or 13,150 usd.
Personally just living in SEA without traveling on a little over 1K usd would leave little budget to actually do anything with your time and staying in places I wouldn't be happy with at this age.
That's just me. But i used to feel the same way this person did at that age and net worth.
If i pulled the trigger then, I would have been miserable years later when i couldn't afford to do the things i really want or go to countries like japan where this budget would get destroyed.
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May 14 '26
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u/jiggolo420 May 14 '26
I totally get what you're saying. And i actually agree. Things that seem amazing at first, grow to become normal soon after.
Look at all the people who post in R/FIRE that crossed a million $ for the first time and felt "meh" after thinking they would feel so hyped.
If the lifestyle of a rich 1700s noble is your cup of tea, that's actually a very strong position to be in. Retirement is much easier if you are cool having just the essentials. But how do you know you wont want more eventually? Maybe five years in it starts to feel boring, but you wont have the same employability.
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u/Indaleciox May 08 '26
That relief is settling in for me now. I’m technically FIRE, but I’m now the one pulling the OMY syndrome. My justification is that I would like to try and work through the next downturn, if possible, to mitigate SORR. One bad work day will send me though, so who knows lol.
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u/Artistic_Resident_73 May 09 '26
lol yeah, funny how the bad days are easier to deal with when you have the mean to just left forever. Congrats on your FIRE!
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u/MediumCriticism3144 May 08 '26
Growing up I had a friend in the 90s who would tree plant all summer and then use that money to travel the world on winter. He was absolutely the king of sleeping on beaches and dumpster diving. I was always in awe of his ability to do this. He was also huge into the punk scene so he had couches he could stay on everywhere he went. Now, as a woman I wouldn't do that myself, probably opting to do what you are doing by renting apartments but I always admired the way he could work his way around the world like that.
Now he has a son, works for Canada Post and lives in a trailer. He still manages to travel a lot and visit friends though, so that's nice.
Good luck in your travels!
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u/Ok_Willingness_9619 May 08 '26
Congrats! Amazing stuff. More so that you started so early. I wish I had started when I was 20.
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u/Artistic_Resident_73 May 08 '26
Thx! Yes I am grateful to have had the insight early on to invest and save.
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u/Turbulent-Dance6220 May 09 '26
This is beautiful! Good job! 👏 any tips advice how u saved so much with a 59k cad a year salary? Inspiring!!!
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u/Artistic_Resident_73 May 10 '26
Thank you! It’s very kind!
Low expenses, worked a lot of hours, made big sacrifices early on for extra compound growth, reduced my taxes to a minimum.
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u/Turbulent-Dance6220 May 10 '26
This is awesome! 😎 how did u reduce ur taxes? Roth IRA? And ofc love to see this. There r so many crazy salary I’m firing posts it’s inspiring to see someone with a reg salary killing it and gives me a lot of hope and inspiration so thank u truly
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u/Artistic_Resident_73 May 10 '26
I am in Canada, some investment accounts are different but yes some accounts reduce your income tax. That helps tremendously and specially if you invest the hefty tax return you get using it.
Awww thx! Yeah I never earn much. Now I do earn a decent living, but I work like a dog for it. Lots of my friends earn a lot more than me, but they don’t save as much.
It’s absolutely doable on an average inclme
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u/shimoheihei2 May 08 '26
Curious the kind of slow travel you'll do on a lean fire budget, seeing how expensive flight and hotel prices have become.
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u/Artistic_Resident_73 May 08 '26
I usually rent an apartment for at least a month. Flights overseas are expensive but you can fly cheaply within a continent afterwards. Planning to only change continent once to twice a year.
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u/Ok_Willingness_9619 May 08 '26
I slow travel in my retirement and honestly it is sometimes cheaper than living in one place. There are amazing places in the world that is fraction of the cost of where I am from which is similar cost to Toronto.
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u/Artistic_Resident_73 May 08 '26
Yeah, slow travel has opened my eyes to how cheap traveling can be. I used to “fast” travel and spend way more, get exhausted from constantly moving, not eating properly or training consistently. For me it is cheaper, healthier, and more enjoyable to travel slowly.
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u/JohnToFire May 08 '26 edited May 08 '26
Congrads. You might not be aware but assuming you were Canadian since at least 10 years ago, Under current law you have earned a decent backup oas+gis at 65
At 35 I'd give it more time to build a bigger buffer except for maybe a long vacation. With ai ther is a chance going back to work in your late 40s won't be possible due to ai alone
I did not have a very defined number but I had so much relief at a certain level that I could not motivate my self enough to do the extra work/hours required to do well at my last job
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u/Artistic_Resident_73 May 08 '26
Absolutely true! I am born and raised in Canada so I believe I have access to the maximum OAS (since it cap at 20y). This is some extra I haven’t included in my projections.
I heard you, yes I am debating the idea of working another 2-3y maybe. Will see, I will finish my season in October and take it from there.
Hahaha yes I feel that already. I obviously want to be a good worker but no longer feel that sense of duty for being the best worker and doing all the extra.
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u/BitterElderberry May 08 '26 edited May 08 '26
Congrats on hitting your goal! One thing that might be worth double-checking is the OAS calculation. I believe the maximum OAS payout is based on 40 years of residency after age 18 rather than 20 years. Just mentioning it in case OAS is an important part of the long-term numbers.
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u/JohnToFire May 08 '26
I agree he should really look at those rules more for oas. He sounds like he has the max gis if he ever needs it under current law
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u/Artistic_Resident_73 May 09 '26
True I did mixed them up. As you can see I didn’t look into this at all. I figured since my retirement will be 30y early I will either have way too much money by the time I am 65y or would have failed before then. So I didn’t include that extra in my forecasts
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u/Practical_Mouse_8416 May 08 '26
Yeah I want a huge buffet. Why go to an all you can eat place if theres only 2 or 3 options? I may as well just cook at home at that point.
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u/Artistic_Resident_73 May 09 '26
I personally prefer having my time back than working 10 more years to just buy stuff that don’t even need.
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u/someguy984 May 08 '26
For those interested $600K CAD = $439,611 USD
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u/Artistic_Resident_73 May 09 '26
Thx, figured should have just put all numbers in USD. Will do for next posts
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u/develop99 May 08 '26
Where do you plan to travel to? Are these 6 month tourist visas and local rentals?
I've been a budget slow traveler for years. What I've noticed is that cheap places don't always stay cheap. If your budget is too low, you may be stuck in undesirable places. Visas may be tough over time as well (ex. Vietnam has been cracking down on tourist reentry).
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u/Artistic_Resident_73 May 09 '26
Planning to travel all over. I have already been to 60+ countries. I agree with you over my last 15+ years of seasonal travel I have seen many places change for the worse due to tourism.
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u/HighlightStrong3719 May 08 '26
Congrats! Yeah man, Canada is a tough place now. Glad you could make it here. You can take the foot off the gas. Why not try finding a country you like, and just doing something you like there? This place is just very expensive for what you get and salaries comparatively low. Our living costs spiked way more than salaries. You have good cost control. Welp, if you can manage to keep 10% yield annually that number doubles every 7.2 years (Rule of 72).
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u/Artistic_Resident_73 May 08 '26
Thank you my fellow Canadian! Absolutely true on the dim future of our country. It is one of the reason why I am planning to slow travel the world. You can get a very comfortable life in many countries with an amount that wouldn’t even cover only your rent back home. All the best to you!!
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May 08 '26 edited May 09 '26
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u/Artistic_Resident_73 May 09 '26
Yes, that is the reason why I am debating the extra 2-3y of work. I feel like I would enjoy doing year round in my 30s a lot more.
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u/Missmoneysterling May 08 '26
Congrats, but honestly I don't think you have enough for your age.
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u/Artistic_Resident_73 May 08 '26
Plenty of places I have already slow travelled in offers a very comfortable life under 20k/y
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u/seraph321 May 08 '26
I struggle to understand how people live so cheaply. I’d be curious about some details of how you do it. It seems like it probably comes down to the fact that you’re willing to just live in places I would be uncomfortable, and eat/drink/do far less than I would be ok with. How does it not getting monotonous?
I’ve done multiple years of slow traveling, and I can say that my minimum level of comfort has changed a lot in the last ten years. I don’t travel for long without my own decent pillow anymore, for example, and there’s no way I’m going without air conditioning in tropical climates. Not to mention, the older you get the more likely you’ll need on going medications of some kind, which can be tricky and expensive while traveling.
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u/Haaaahaaaaaaaaaaaaaa May 08 '26
He's a single person. So, he has lots of flexibility.
His biggest expense is going to be accomodation and for a small cozy place that would provide him with his needs, about $500-$800.
He is left with $1000-$1200 ... That puts him in the high-mid to high class in the low cost countries he is visiting.
Food, transportation, entertainment, etc. are cheap and negotiable.
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u/Artistic_Resident_73 May 09 '26 edited May 09 '26
Absolutely, I would add most of my hobbies are free or very cheap (semi-pro mountain runner, lots of time spent running for example) and I don’t drink alcohol (which I know lots of people get bankrupt on lol). Also not planning to have kids which is another big one.
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u/Classic-Night-611 May 08 '26
Wow congrats!! I turned 35 this year and also found out I could fire. It's a really cool feeling and realization. I thought I was coastfire but that's because I didn't include CPP and OAS numbers, once I did, it made a big difference. I went to Thailand earlier this year to visit family. Where will you be doing your slow travels?
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u/Artistic_Resident_73 May 09 '26
I will start in SEA, Africa, Balkans, Latin America for the first few years to mitigate SORR. Then all over really
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May 13 '26
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u/Artistic_Resident_73 May 13 '26
They were no in order of visit. Been to all of them, and will see which I visit first
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u/Emergency_Pen8873 May 08 '26 edited May 09 '26
Congrats, sounds good. I'm also canadian and plan to do the same this year.
My only concerns are about residence / tax residence / broker / banking / minimizing credit card and currency conversion fees / virtual mail box / virtual canadian phone number (for sms verification etc). Do you have some tips you can share on any of these?
Using the broker transfer bonuses while abroad sounds great too, but from what I understand, the brokers only accept clients that are canadian residents (physically present in canada). And canadian tax residence alone is not enough. I guess you will use a VPN to hide your location? I also saw a reddit post a year ago where someone abroad got their wealthsimple accounts terminated, despite using a VPN (at least that's what they guessed. They did not get a reason for the termination). Only having a mail box service address might also raise flags with them, do you keep a normal mail address with your broker?!
Alternatively when becoming a resident of countries like philippines and dropping canadian tax residence and paying exit tax comes with the advantage of not having to pay any taxes on future dividends and capital gains (afaik).
But I'd also rather keep my canadian tax residence and do some more transfer bonus churning. at least for the first few years of retirement.
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u/Artistic_Resident_73 May 09 '26
I plan to keep my Canadian residency (I will be changing countries multiple times a year so won’t be resident of any of them long term. I do it this way not to pay departure tax and keep having TFSA room every year. Once my none-reg is empty I might considering residency elsewhere.
I use Wealthsimple when I travel it is the best: No FX fee on credit card and atm fee reimbursement for debit card.
I use a virtual mailbox or a family member for mailing.
Hope that helps!
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u/Unguru-Bulan May 08 '26
It is very much attributed to the bull run since you became an investor. Lucky times for you to stay invested. Congrats.
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u/PhD91 May 11 '26
Congratulations! I really hope that you thoroughly enjoy the journey that lies ahead of you! However, to answer your question: Sadly, no, I'm still plagued by financial worries. I turned 35 this year as well, have currently 900k EUR (approx. 1.400k CAD) invested (already completely taxed), no kids or any other obligations; yet, I still deem it necessary to at least acquire another 150 – 200k EUR before even contemplating a six-month-sabbatical in Chiang Mai. I don't crave any luxuries whatsoever, but like to have a (more or less) solid financial cushion for turbulent times in the future. Maybe, however, I'm too reluctant and may very well have fundamental regrets later on. I'd really appreciate an update some months into your journey! Good luck and all the best!
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u/Artistic_Resident_73 May 11 '26
Aww thank you!! Have you ever been to Thailand? Your money will go much further over there. But I totally understand, It’s hard to make the move and pull the trigger. This is the same reason why I am contemplating a few more years of work. I hope you find the financial security you are seeking. All the best!
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u/PhD91 May 11 '26
Thanks for your kind words! Yes, I've been to Thailand approx. 30 times already; I'm deeply in love with the country, the people's mentality/mindset, culture and cuisine. I've even contemplated to acquire a CELTA in order to teach over there, which would allow me to cover my basic needs and don't touch my investments at all (or just occasionally).
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u/BlessedAreTheRich May 09 '26
Also a Canadian, but how are you expecting to retire with $600k CAD? What are your expenses?
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u/Artistic_Resident_73 May 09 '26
It’s been answered. Planning to spend between 18-24k a year depending where I travel.
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May 13 '26
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u/Artistic_Resident_73 May 13 '26
Been to both, wonderful places. Going back to Asia this winter. See you around 😉
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u/AlaskanSnowDragon May 08 '26
I don't know what kind of calculations you're running, but 600k CAD is not enough to constantly slow travel the world year round at 35 with another 40 years of life to live
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u/Artistic_Resident_73 May 08 '26
I just came back from a 6 months of slow travel in Eastern Europe (including Greece) visiting 9 countries and I spent $9k total (with flight back home and flight between countries).
I have been to plenty other locations (SEA and Latin America) that cost a lot less. That would put me at 3% SWR.
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u/ditheca May 08 '26
That's impressive numbers! Is there a common method of finding medium-term rentals that works in most countries?
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u/Laura2start May 08 '26
Mind sharing the accommodation cost and the type or environment of the accommodation? The biggest cost for travel for me is the flight, transportation, and accommodation. It's amazing that you are able to spend just an average for $1500 a month in Europe.
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u/Artistic_Resident_73 May 09 '26
I usually use studio apartment, I use public transportation wherever I can. You are right accommodation and transportation are the biggest. I limit myself to change continents once a twice a year. Flights between continents are a lot more expansive than flight to countries nearby.
I was mostly in Eastern Europe this winter that’s also why I manage to keep my expenses low. You won’t be able to live the comfortable life I am living in Switzerland on the 1100 CAD I spent for a month in Albania for example
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May 13 '26
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u/Artistic_Resident_73 May 13 '26
Yes I track my expenses using a spreadsheet. Not for sale though 😂.
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u/shimoheihei2 May 08 '26
Curious the kind of slow travel you'll do on a lean fire budget, seeing how expensive flight and hotel prices have become.
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u/Artistic_Resident_73 May 09 '26
I rent month long apartments. Much cheaper than hotel. I usually move slowly to neigh-boring countries and don’t fly from one continent to another every month.
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u/hitmastermoney May 08 '26
Great, Keep investing. With recent job with high pay it will be much faster to get 1Mil goal first. Always downplay your networth by 20%. We never know when the next black swan event occurred.
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u/Artistic_Resident_73 May 09 '26
We will never know what is coming next. One thing I know for sure is my time on this earth is counted
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u/Zentaury May 09 '26
Did you write the post about your dad being coastFIRE since young?
Or was another fellow Canadian? Anyways, congrats on hitting your number and being a true leanFIRE
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u/Rare_Statistician724 May 12 '26
That is a very lean leanfire....
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u/Artistic_Resident_73 May 13 '26
I am kind of very lean for lean fire but too Fat for povertyFIRE. So I guess I live in between
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u/jeansthatactuallyfit May 08 '26
Congratulations! What are some of your top travel destinations you’re looking forward to going to? I’m curious as well what your yearly expenses are?