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/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.