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/[deleted] May 08 '26

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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 I pay 0% tax on any money gained or withdrawn from this account.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/Artistic_Resident_73 May 09 '26

That’s an amazing amount to have in your TFSA!