Wed, 16 November 2022
Today we have another financial independence case study to learn how a real-life couple here in Canada were able to reach their financial independence number by the age of 34.
We talk specifically about the practical tactics, strategies and mindset that you can apply in your own life, to help hit your financial independence number quicker. Or, if you’re already at financial independence, these tactics can further help solidify and enhance your net worth and that extra financial cushion that’s always nice to have, when you’re living off your portfolio.
Our guest today is Kyle Prevost who I have run the Canadian Financial Summit with for the past 2 years. What makes Kyle unique with his financial independence story, is that he and his wife were able to get there on two teacher salaries.
Oftentimes when we hear these stories of couples who have achieved financial independence early, they are often engineers, programmers, or other high paying professions which makes achieving that early retirement number easier. In Kyle’s case, they were able to do it on two teacher salaries instead, so we’re definitely getting a nice unique perspective here.
This interview and presentation that Kyle prepared was actually one of the bonuses that we offered to Canadian Financial Summit attendees who bought the All-Access-Pass so you’ll hear him reference his slides at a few points during this talk, but don’t worry, all the lessons and advice still make total sense without the slides.
Enjoy the interview and presentation!
Resources from the episode:
The live Retirement Planning Workshop on November 29th at 1pm EST is over at BuildWealthCanada.ca/workshop
The Canadian Financial Summit mentioned on the episode is over at BuildWealthCanada.ca/summit
You can see more of Kyle's writing over at milliondollarjourney.com
Questions from the episode:
1) Kyle, for those not familiar with you, let’s just start with the usual first question in a job interview - “Tell us a little about yourself”.
2) You recently reached financial independence - tell us about what that term means to you, and what your plans are in terms of work going forward.
3) Tell us what you think your keys to financial success were.
4) How did you and your wife Molly earn money after leaving university?
5) Let’s peak inside your portfolio, and tell us how you invest.
6) To wrap up, just to give folks a broad overview on what the financial independence by 34 road map has looked like for you and Molly, can you sum up how you two were able to do it?
Direct download: How_to_Retire_in_Your_30s_on_Two_Teacher_Salaries_A_Case_Study_and_Practical_Guide.mp3
Category:Investing -- posted at: 3:53am EDT
Tue, 8 November 2022
Many Canadians tend to dabble in at least a bit of active investing, picking individual stocks, even if they consider themselves primarily total market index investors. As long-time listeners of the show know, I personally only do total market index investing through ETFs, but I think it’s important to stay educated and hear the other perspective of how and why active investors choose to invest the way that they do.
This episode is going to be a bit of a hybrid because our guest today, Braden Dennis, is an active stock investor who owns an investment research platform called Stratosphere.io. He’s also the host of the Canadian Investor podcast, and with these two companies, it appears that he’s already hit financial independence at a really young age.
So, in addition to asking him about how one should research companies if they want to buy individual stocks, we also get into one of the ways of reaching financial independence and early retirement quickly, which is by starting your own business.
Direct download: Should_You_Do_Any_Active_Investing_and_a_Financial_Independence_Case_Study_-_Ep98.mp3
Category:Investing -- posted at: 5:55pm EDT
Tue, 1 November 2022
A Financial Independence Case Study: How to Achieve Early Retirement and Happiness With Jordan Grumet
Today we have a case study of someone that was able to pull off an early retirement (we get to learn how he did it, and apply those lessons to our own life). He also wrote a book that I personally consider life-changing, in particular when it comes to financial independence, early retirement, and achieving happiness.
His name is Jordan Grumet, and his book is called Taking Stock, A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life.
I highly recommend you check out the book. I wish I had it when I first set out on my financial independence journey, and I’ve also found it helpful in designing the lifestyle that we want, in this semi-retired life stage that we’re in right now.
In addition to the book, in this interview, we also cover:
Direct download: A_Financial_Independence_Case_Study_-_How_to_Achieve_Early_Retirement_and_Happiness_With_Jordan_Grumet.mp3
Category:Investing -- posted at: 11:43am EDT