r/leanfire • • 12h ago

Weekly LeanFIRE Discussion

14 Upvotes

What have you been working on this week? Please use this thread to discuss any progress, setbacks, quick questions or just plain old rants to the community.


r/leanfire • • 4h ago

$1M in Canadian corporation - possible to FIRE / Coast?

4 Upvotes

Hello,

Let's say you own a Canadian corporation with around $1M in retained earnings, and you're at a point where you no longer want to actively grow the business or work full-time.

Instead, you're considering scaling back significantly...paying yourself and your spouse just enough in salary or dividends to cover basic living expenses, and leaving the remaining funds invested within the corporation to compound over the next 10-20 years.

The idea is to essentially "coast" financially without needing to generate much additional business income, while still maintaining a relatively modest lifestyle.

I'm wondering if this is a viable strategy, or if things like the taxation on passive income and the difficulty of withdrawing funds without massive tax hits make it too complicated to truly "coast."

I understand the specifics depend on individual circumstances, investment returns, and tax planning, but I'm more interested in whether the overall approach makes financial sense.

Has anyone here actually attempted something similar? Did you find it worthwhile to keep the money invested inside the corporation, or did you eventually decide it was better to withdraw the funds and invest personally?


r/leanfire • • 1d ago

Can we talk about Southeast Asia?

91 Upvotes

I've been really enjoying this community more and more because my budgets and expected spend have always been low, and like most of you I dream of fire.

I'm noticing however an alarming number of comments when the OP is asking about possibilities, and someone always inevitably says "just move to southeast asia." Like it's a simple thing to do.

These comments have me very interested so I did some research... For you to stay long term, most countries in SE Asia either require you to be 50+ on a retirement visa, or get a job in that country. Otherwise, if you're 35-45 years old, youre basically only staying 90 days.

Am I missing something? Is it really that easy as people always spout? From what I can tell, a plane ticket from the US to these places would be thousands of dollars, and then the paperwork and accomodations to find a spot for just long enough... Even if you travel lightly and switch hotels, it doesn't seem like people say.

I feel like I'm either missing how easy this is, or people are just omitting the fact they're all 50+ on retirement visas. I've checked the rules for Malaysia, Cambodia, Vietnam, and Thailand. Nothing seems as easy as "just go to Asia and live on $500 a month!"


r/leanfire • • 7h ago

The feeling of paying off your mortgage?

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0 Upvotes

r/leanfire • • 1d ago

FIRE has made me weirdly resistant to upgrades

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39 Upvotes

r/leanfire • • 2d ago

$1M & a paid off 🏡

250 Upvotes

See my last posts at $500k-$900k.

Today, I hit $1M PLUS A PAID OFF HOUSE at 33! It’s all invested currently so the plan is a 2-3 year cash buffer or GIC ladder and then I’m retiring!

Background: degree in accounting, CPA, then pivoted into other roles. Here to show that it’s possible without a super high salary (relative to what some earn).

I am wildly frugal and have always saved 50-75% (usually 75%) of salary since my first job in my teens, and live in a LCOL area which helps. I do have a partner, so split housing costs etc. 50/50, but we keep the rest of our finances separate so these are only my numbers.

My work does match my 9.5% contribution with 8.5% of their own, for the full 18% which goes right to retirement savings, so that helps immensely.

**Summary:**🇨🇦
Work Retirement Accounts: $340k
Personal Retirement Account: $60k
Tax-Free Savings Account: $250k
Taxable/Margin Accounts: $350k

Salary Progression:
(starting with my first full-time post-grad role)

2015: $41k
2016: $67k
2017: $80k
2018: $90k
2019: $93k
2020: $96k
2021: $101k
2022: $106k
2023: $115k
2024: $121k
2025: $124k
2026: $126k


r/leanfire • • 19h ago

Opheldering over financieel dienstverleners van "pensioenrekening".

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0 Upvotes

r/leanfire • • 16h ago

Reversed approach

0 Upvotes

If $32,000 a year is my annual spending or burn rate historically while keeping up with inflation, presuming healthcare and housing covered, what should be my target leanfire number to stop working near age 50?


r/leanfire • • 2d ago

500k at 40 years old, burnt out

224 Upvotes

I just hit 40. I'm an american man. I learned about investing at age 33 and spent the last 7 years investing everything I earned. I partied and screwed around a lot in my 20s, and have nothing to show for it. I have had 4 girlfriends, all failed relationships. No kids. Mentally I feel like a failure. My family pressures me to get married, but I don't want to get married right now and I would rather quit my job and live stress free than get married, have kids and continue working until 65. I have always loved traveling and I want to travel more. What should I do? I make 65-85k a year at my job with OT. I really just want to F myself off of the corporate america lifestyle.


r/leanfire • • 2d ago

Has anyone achieved FIRE with minimum Wage? or Low Salary

55 Upvotes

looking for some encouragement for those did fire on a minimum wage how did you do it? Or if you had a little salary, I’m curious what did you do or did you pick up two jobs? Please I’m curious what you did and how did you organize your money?


r/leanfire • • 1d ago

Can I quit my job?

0 Upvotes

Been a lurker but I thought I'd ask

Portfolio - 300k usd in stable equities.

One apartment in Dubai dt - 7% net yield - fully paid. 700k usd value.

I'm the only son of my family and I live with my parents since I'm my culture that's the custom. We have a fully detached home that's already paid off.

Our total monthly expense is usually $2k-2.5 CAD. We live pretty modestly. We do lots of roadtrips, maybe once a year travel.

No kids and wife yet.

Salary currently - 150k usd/yr. I'm exhausted and I'm thinking of working maybe one more year and then "retiring". Use that time to travel and just rediscover my own passions

My concern mostly is from future expenses from kids/wife and will I be able to manage that or will I have to relook again. I look at my elders and realize I don't want to be a white collar and wake up one day and not have the energy to enjoy life

If I need to work how many more years should I continue to work and build the portfolio?


r/leanfire • • 2d ago

fat fire versus lean fire

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2 Upvotes

r/leanfire • • 3d ago

Frugal grocery shopping

34 Upvotes

Hello all,
I am new to this and I am interested in how people in the fire lifestyle track grocery purchases now, what you’ve tried and what annoys you the most about it. Any insights are much appreciated.


r/leanfire • • 2d ago

Property prices in the Med - are they gone all MAD?

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0 Upvotes

r/leanfire • • 4d ago

your favorite FIRE advice?

104 Upvotes

im 21, fairly new to FIRE. whats your favorite FIRE advice youve ever received?


r/leanfire • • 3d ago

Qualms about buying housing

7 Upvotes

32F and 31M, currently renting in Toronto.

Have started giving buying more thought in recent years, but can't make up our minds about if/when to do it. Long-time lurker in this community, and hoping to get some ideas.

Arguments for buying:

  • We are planning to retire on the lean side, so feel like it would be a sensible choice to buy before retirement to reduce risk.
  • Our preference is for apartment/condo living, and the condo market is becoming more favourable to buyers.
  • It makes coming back to Canada an easy option. Canada is currently a more geopolitically stable part of the world, and having a residence here means that even if we move overseas, we can always afford to come back if things go wrong.

Arguments against buying:

  • In terms of lifestyle, I would be happy to rent forever, and love the flexibility and lack of unexpected maintenance costs. I like the minimalism of living in a small space, being downtown, not needing a car, etc.
  • We are very unsure what our life will look like post RE, and even whether we will continue to live in Toronto. We'd like to slow travel the world for a few years, maybe completely relocate.
  • Condo ownership feels less "secure" to me than house ownership. With owning a house, the land is always valuable. I don't like the idea of condo fees that can increase, or the risk of a crazy special assessment or the building reaching end of life in e.g. 50 years time. But house ownership is really not something we want to do.
  • Maybe we will not actually RE, at least not fully stop working. Maybe we will digital nomad, teach or go back to school/research. Chances are we would be active enough to bring in some moderate income so maybe it is less important to de-risk.

Please ask questions if I've missed any important details, interested to hear all opinions.


r/leanfire • • 3d ago

How to balance protecting vs. spending time with family

17 Upvotes

I'm aware I'm grieving right now, so this may not make sense.

My cat died on Wednesday. He was 2 years old, and it was very sudden. We went in thinking he'd be ok, to leaving without him. We fought so so hard for him. The chances of this happening were less than 1%. His death was incredibly traumatic.

Since then, I don't see the point of a lot of things. Sure I like travel, restaurants, and a nice home in a city I love. But at the end of the day, all I really want is to be home with my family. To live a normal, simple life with the people I love. I just wanted more time with him. I already hated that works dominates our waking hours, but now I especially loathe it.

I had plans to FIRE before - work hard, save up, and bail once I could provide a good quality of life for my family. Now I feel like I can just throw out 1/3 of the things I budgeted for. I don't need to own a house or live in this city to be happy. Obviously I'd be happier if I could have it all, but right now life feels extremely precious. There's no time to fuck around. I need to be with my family as much as possible, before our short lives are over.

I'm aware making big moves while grieving is a bad idea. I want to do something about all this though. The world feels like it's getting worse, scarier, and more turbulent by the year. The last 4 years have been miserable, but at least I spent 2 of them with him. I want to have kids, but that makes leanFIRE feels especially irresponsible.

Also, I felt like if I had saved more, then I could've have afforded the extremely rare, risky surgery that might have saved him (though his quality of life afterwards was unclear). But doing it now would've wipe out everything we had, and we were already excellent savers.

It's horrible, but I felt like I shouldn't go into debt for a questionable surgery and consequently endanger the rest of my family. But what if I have a kid and they'll need medical care that costs hundreds of thousands of dollars? Or if my partner needed it? Of course I'll do whatever it takes. But then leanFIRE feels wrong, because I could've saved and prepared for that exact situation ahead of time. I'm aware this is catastrophizing, but this already happened to me. The worst luck.

So my questions are:

  1. Has anyone changed their lives dramatically to achieve leanFIRE? What about after loss?
  2. How do you feel about no longer accumulating wealth, when things are so uncertain and socking away more money feels like a way to protect your family?
  3. Related to 2, how do you plan to handle major events that might go far beyond your budget?

r/leanfire • • 3d ago

Question on SORR & Asset Location: Does it make sense to keep your "cash cushion" inside an IRA instead of an HYSA?

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4 Upvotes

r/leanfire • • 4d ago

Pros and cons of medicaid vs silver 94 for 2027 OHIO

0 Upvotes

So after doing brief research several several months ago, i decided to stay on the silver 94 plan for 2027. But with all the new info i kinda want to revisit the issue.

Ohio

Head of household thanks to elderly mother on socialsecurity

Own house

Male 47 good health, never see doc and no scripts

Leanfired. Only uncontrolled income is about $12k in interest/dividends at fidelity

Overall goal = fill up the standard deduction bucket with interest/roth conversions, and fill up the zero percent capital gains bucket with tax gain harvesting

The last time i reviewed this strategy it was pretty "iffy" with no concrete answers. So here is my new plan and wanted to run it by you folks. Qualify for expanded magi medicaid. After evaluation month, do the capital gains bucket at the end of the month and report the same month. Spend the rest of the year reporting either interest/dividends or roth conversions to meet the min "work" requirements.

Its either this, or try to live in the wee sliver between 138% and 149% yearly income to stay on the silver 94, and pay around a grand a year in premiums.

I really dont want to YOLO a month a year and just hope i dont get the fall/widow maker that month to go the medicaid route.


r/leanfire • • 5d ago

Bond o VWCE?

10 Upvotes

Hi everyone, i'm italian.

I'm currently about 80% of the way towards achieving FIRE (Financial Independence, Retire Early).

My portfolio is currently focused on reaching that goal. Once I achieve FIRE, I plan to restructure it to sustain me for the next 50 years, which means it will eventually have a significant equity allocation.

However, at this stage, I'm considering investing in bonds rather than increasing my position in VWCE to reach my target.

There are long-term government bonds (around 30 years to maturity) issued by countries such as Italy and France that offer net yields approaching 5%.

Given that my employment income is gradually declining and becoming increasingly uncertain, I feel it makes more sense to collect bond coupons and use that income to reach FIRE, before changing my asset allocation for the withdrawal phase.

My current portfolio consists of:

  • €190K in BTPs (Italian government bonds)
  • €42K in VWCE (Vanguard FTSE All-World UCITS ETF)

In about two months, I'll also have €420K in cash becoming available, which I'm considering investing in French government bonds (OATs).

The possibility of bond yields rising further, causing a significant drop in their market prices, doesn't particularly concern me.

I also have additional assets that, for various reasons, I cannot currently invest.

Overall, I believe focusing on bonds rather than increasing my VWCE allocation makes sense given my specific goal and circumstances. Once I reach FIRE, I would then restructure my portfolio to support a long-term withdrawal strategy, with a much larger equity allocation.

What do you think? Does this approach make sense, or am I overlooking something important?


r/leanfire • • 4d ago

Lean Fire noob— what kind of number do we hope for with a family of 6?

0 Upvotes

Spouse and I are frugal & wary about lifestyle creep, but I almost never hear concrete examples about households as big as ours. We have four kids (elementary through high school) and live in a VHCOL city (can’t relocate anytime soon for multiple reasons, including employment + extended family). What kind of ballpark numbers would someone working toward lean fire want to think about in our shoes?


r/leanfire • • 6d ago

I feel like FIRE is a bunch of people with uncertainty anxiety just trying to calm themselves

332 Upvotes

Pretty much how myself and many I've met have described their reason for frugality and FIRE. Mostly amplified because of AI employment threat.


r/leanfire • • 6d ago

Planning to take sabbatical, is my number making sense

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2 Upvotes

Adding to the post. I am planning to leanfire in my 50s. Probably will just do part time jobs for fun. Expected expenses during retirement in my 50s before social security would be around 30-35k per year and when fully retired, potentially planing to move back to my home country where 20k goes a long way.


r/leanfire • • 5d ago

39M, 1.5M, technically hitting leanFIRE number in Feb 2027

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0 Upvotes

r/leanfire • • 7d ago

Seeking advice on overcoming my extreme financial anxiety

33 Upvotes

Wife and I are in our 50s and both have extreme anxiety about money due to tough upbringings and lifelong depression issues.

We've been very disciplined savers and are pretty well situated financially but due to our anxiety have always kept our money in ultra-safe low yielding investments. Wife is still working, I recently resigned due to burnout and made it my personal goal to finally put together a detailed financial plan.

Since COVID I have been absolutely convinced we were heading towards another great recession and I feel guilt and shame having missed this insane run-up in the stock market. OTOH I feel like the entire system is a house of cards and I am terrified of putting our nest egg at risk. I feel like anyone selling financial advice is going to screw us, so I just wind up endlessly deferring any decisions and just keep our money in an HYSA.

I'd really appreciate hearing from others who have dealt with this, or maybe just a shoulder to virtually cry on.