Join Ryan and Chrissy as they share feedback from the community and talk about building a FIRE community in Canada. They share podcast reviews, episode comments, and make a big announcement.
Note from Chrissy: apologies for the awkward patch-in audio at the end! To be honest, we had a really lame ending in the original recording. We improved it, but the patch sounds obvious. We’re working on improving our podcasting. Hopefully you, our awesome listeners, won’t mind the awkwardness!
These show notes were written by friend of the show, Shaidah Karim. Thanks Shaidah!
- EFIC is a 5-star podcast, with four 5-star reviews!
- Thank you to girl and a garden, Fijejnfyibc, Tonfore, and 604sk.
Show Comments from Explore FI Canada:
- Thank you Sam from the UK for her comments on Episode 1 and Episode 2. Sam agrees with Chrissy that the “Retire Early” part of the FIRE acronym deters people from FIRE.
- Thank you Ivory from Edmonton for commenting on Episode 1. She hopes FIRE will spread across Canada.
- Thank you Mr. Prairie FIRE for your comments on the Smith Manoeuvre, Episode 4 with Megan. Check out the episode show notes as Chrissy lays out the Smith Manoeuvre in great detail.
Shout out from Robinson Smith
- Robinson Smith contacted Money Mechanic to say that EFIC did a great job with Episode 4, Megan from Victoria, BC, Using the Smith Manoeuvre to Achieve FI.
- Thanks again Megan for being our guest!
Comments from EFIC Facebook Page
- Thank you Harrison, who wants EFIC to continue bringing Canadian content!
Pursuing FI after 45
- It is never too late to look at your finances.
- At this time in your life, you are generally at the pinnacle of your career when you are making the most amount of money.
- This is your time to address debt, and deal with consumer debt.
- Contributions to your RRSPs are most valuable as this will return some of your income tax money.
- Learn how to use your TFSA properly on your path to FI.
- You can’t afford not to look into FI and go hard at it.
- EFIC wants to be the hub for FI in Canada and wants to give the tools to help Canadians achieve FI as early as possible.
- The best time to plant a tree was 30 years ago, the second best time is today. Get started on figuring out your finances as it isn’t too late. You may have to push a little harder to get there but you can do it.
- Take control now!
ChooseFI: Starting Late but Retiring Rich
- Chrissy recommends checking out this post about a couple with 3 kids that were able to achieve FI and financially help their kids with their weddings.
- Both Chrissy and Money Mechanic are in their forties and Ryan calls them so old!
Comments from ChooseFI Canada Facebook Group
- Thank you to everyone for their support, likes and loves. We read and appreciate each comment and want to continue providing information to help you along your FI journey.
- Please continue liking, loving, or commenting as this is the fuel that keeps us going!
- We are glad that Shaidah called us out on Episode 3: The 4% Assumption. As none of us own rental properties, this is a bias on our part.
- Those with several rental properties could achieve FI much sooner as rentals generate income and investing in real estate could be seen as a faster path to FI.
- We are working on bringing someone on the show that can provide insight on real estate investing in Canada.
Email from Stacey
- She thanks us for the podcast and requests us to do an episode for beginners covering the basics and travel rewards.
- Ryan doesn’t want EFIC to be a podcast that regurgitates the same info that everyone else states. Since all three of us have no consumer debt, we appreciate the reminder that there are people who have debt and are starting their FI journey.
Big Announcement—FI School
- Chrissy has a series of posts called FI School on her blog that EFIC will be launching as a series of podcast episodes going through the FI School content.
- This information will be available to our listeners for FREE!
- Please be patient as we work on recording this content and providing high quality content, as accurately and efficiently as we can.
- Canadian FIRE Directory
- Episode 1: Meet Explore FI Canada
- Episode 2: T on FIRE from Atlantic Canada
- Starting FI late? Check out this story on the ChooseFI blog.
- Episode 4: Megan from Victoria BC | Using the Smith Manoeuvre to Achieve FI
- The Smith Manoeuvre calculator (Robinson Smith mentions that they plan to update it soon.)
- Episode 3: The 4% Assumption
- FI School from Eat Sleep Breathe FI
- FIRE Drill podcast: Blogging for Profit course
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