Our Financial Freedom Journey: 2021 Updates + Future Goals | HOW We Achieved FIRE in our Mid 30’s
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- Опубліковано 28 сер 2024
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I have to tell you; although I have been subscribing and watching a ton of channels for passive investing for the past couple of years, both in Canada and the US, yours is hands down the most informative and practical. Thank you so much! Hope you will give a thought to all of us poor Canucks this winter when you are in the Panama. :)
High praise ! Thanks man so much ! We’re just being 100% open and honest in how we invest and live . Since we now know how much it’s appreciated we will continue . We love helping people and Sharing knowledge and success .
I concur with Peter. Your videos are inspiring. Based on your recommend list of income funds, I was able to setup my portfolio to generate monthly dividends. Looking forward to seeing the monthly dividends grow! Thanks again for sharing your journey.
I wish I knew to start investing in my younger days. Watching this video was eye opening because it is a process to get to your goal of financial independence. AWESOME video Adrian. It's never too late to start investing or start your own journey to become financial independent. Also I was wanted say, I learned so much from all your videos. Thank you very much for putting this kind of content.
You’re right .. it’s never too late 😉
Adrian and Erica thank you for encouraging us on your personal life journey. All the best for you both.
It's wild to see how by just living frugally, paying off debt and investing asap you've been able to build a portfolio that yields way more than enough to cover your expenses which allows you to reinvest and keep it growing. And your salaries only went into the six figures for a few years. Thanks for sharing how you did it!
WOW! Amazing journey indeed. I wish I knew all that when I was your age. Thank you for sharing Adrian and Erica.
"If you don't make money while you sleep, you will have to work until you die!" OMG! Clever comment there Adriano! LOL
Got your update version Adriano, thanks. This would help in two ways, one for younger people starting out and ready to listen to ideas to consider, and two, for those that have done well, your "steps" feel like a welcomed friend. You and Erica and no doubt others also had the same mindset and goals and reached success and better health, including mental health. The freedom felt at this point is amazing, even during the present "recession" that allegedly appears to be amongst us in June 2022. Keep up the fun, enthusiasm and hard work in making these enjoyable and informative presentations. Cheers, East Canada DIY with success, and still involved in rescuing dogs, keeping them here with me in their forever home-thank you passive income investing and having hustled for 15yrs along the way, Cue happy dance💃💃, 💯💪🇨🇦📈🐶🐶🐶$
Thanks ! You’re a positive comment machine 😉
@@PassiveIncomeInvesting 💯☀✔🙏🇨🇦
This was my first year snowbirding, too except I am 55 :)
I am almost double your age. I admire your courage to rent rather than own.
Not a easy mental decision to switch over.
In my earlier career days, owning rental properties is the oldest passive income source.
But with the new dividend ETF, the game is changed completely.
I really enjoy your videos and are one of your followers.
Thanks , it was a real easy decision for us 😉
I'm from Montreal too and I hate the winters so much so I understand and it has been my goal for a very long time to relocate to a country or city that has summer weather all year round
This is such an inspiring story! nicely done and keep sharing all your amazing insights :)
Very nice rundown of your financial freedom journey and quite impressive to do it in such a short period of time even with the learnings along the way!
This is great Adrian. Currently now at $300 monthly of passive income. Your channel has really changed my outlook on the market and ways to make money
Nice ! Keep going bud
You are meeting all your goals. Looking forward to seeing an update for 2022-2023!
Congratulations Adriano and Erica - all the best to you and hope you enjoy your time in Panama. You are an inspiration to us all !
Thanks is Chris , appreciate you ! . That cute little boat you showed would be great here
@@PassiveIncomeInvesting For sure - I think it would be a long boat ride !! ;)
Fantastic video. I just shared this with my 21yr old son. Very solid life advice. Kepp up the quality videos and congrats to you and your wife for realizing your goals!
I love hearing how regular people can achieve their goals. My wife are on the same journey. We live well below our means we are both government workers and over half our incomes go directly into investments we are trying to retire in five years. A lot of what you have done we have done the same.
It’s worth the sacrifice , stay on the path 👌
Great update! exciting times. Enjoy the sunshine.
Great video. You also could have refinanced your condo several times by now (as Montreal and area has boomed) and enjoyed the increase in equity and used that to invest. Just another way... All the best for 2022.
Yea but we wanted to leave that place anyways
Thanks for sharing your Life journey to us. I will share these to My 3 children..you are an amazing person..
Congrats! i hope the younger kids watch your channel to get inspired. 👍👍
Congratulations on your rapid journey. It seems like not having children was a big opportunity for you to minimize your expenses. Kudos to you both for focusing on your goals and living your best life.
❤️
Enjoy Panama. Thank you for sharing.
Be sure to tell us why u chose Panama.
Warm weather , safety and good reputation for ex pats
I'm close to $500/m! Your proof of concept is my lighthouse, light shines brighter when i see your passive income growing and enjoying your time now. Rewards of focus and discipline in buying stocks holding it for passive income are peace of mine and financial security not to mention the travel adventures that I'm looking forward to!
Glad that you get it ! Keep going and you’ll get there too . More passive income = more doors open
Hey Do you mind sharing how much have you invested to earn 500$ per month plz??
Depends on the yield you get …
Thanks Adrian for share with us all these valuable information. I really appreciate your honesty and transparency in all your videos. Have a nice time in Panama. Stay warm, and don't forget us, the freezing guys (I'm from Laval). Sempre avanti!
Good luck with upcoming lockdowns 😭
Great video, and you did many things correctly. I am an old guy but it was interesting to see how you came to your present solid situation. Thanks, Robert
Great presentation, you both have done a great job
I recently found your channel, and have gone through all your media. So far you are goals man, thank you for sharing this video and your journey!
Thanks dude ! Welcome aboard 😉
Dang. Great story. My wife and I choose to go the route of having 1, then 2, then three children (aka dramatically reducing our available income, energy for side hustles or actually learning anything beyond parenting). But I'm glad we're here now :)
Wtv makes YOU happy !
Safe travels to both of you !! Merry Christmas and Happy New Year !!
enjoy your stay in panama that is the beauty of passive income you get to do what you want to do
Exactly !! 🙏
Amazing trip to turn into your beautiful freedom life. Thanks for your sharing your journey. and Yeah, totally agree that, Montreal winter is making me depressed.
Do something about it ! 😉
Great video! So helpful to see how you both achieved financial independence. Well done!
Oh this is soo good to see. I love to see peoples journey. It's so important for transparency.
Congratulations, living the dream now and revenue Canada is going to love that new income !
You guys are legends.
Sold the condo to put it all in the stock market, just to have a huge correction a year later , did not panic and just kept buying, and are now retired.
Yup , this is why I know this strategy works and have full confidence in it . Nothing makes you learn more than a crash , even if it was a relatively short one
@@PassiveIncomeInvesting Yeah you learn a lot from lifetime experiences. My uncle left his employer at the age of 37 and never contributed another penny to his 401k with them and just left it alone. 23 years later in 2017 it had gone up 5 times in value. I will always remember that. Nothing beats the power of compound interest over time.
The passive income goat 🐐 is back ❤️🇨🇦🔥
Wish you all the best for 2022! You learn a tone of thing to me this years, and i DIY my self managing my portfolio for real for the first time in my life.I Will never said you enough, Thanks You Verry Much!! Keep doing yours great job. Scincerly, Benoit. 🎅🍷✌
Good job . Bonne fetes 😉
Hi Adrian and Erica, thank you for another great video, both or you are awesome, and like other subscribers have written, I wish i would have started passive income investing earlier. Now on other subject... I thought you were in Toronto. I agree with you, Montreal is nice, but winters are brutals, I left Montreal long time ago for warmer climate, now in Florida. I think your idea of Panama is wise, you'll find surely lower cost of living than most warm climate US States. Merry Christmas in Panama. from Pierre.
Thanks Pierre ! How do you like Florida ? You’re there full time ?
Wow je ne savais pas que tu es montrealais mon frere, moi aussi j ai grandit a montreal mais je vis a Calgary en ce moment. Enjoy your vacation in Panama it's a great pick. Thank you for Sharing your Wisdom and knowledge ,it's priceless.
Merci mon ami !
Great Video!! Being 52 and on our way to to be financially free this is the type of teachings that I would like to see young people learn in schools. Keep up the great work. My only question is how do you charge your Electric vehicle if your renting a condo?
Lol thanks ! well in case you didn’t know , you can charge an ev using a regular socket , it just takes long … luckily we don’t drive much and have a charging station 5 mins walk away so I typically go there to charge it , walk home and walk back to get it 3 hours later . 3$ for a fully charge 😉 which lasts about 200km .
Well done Adrian, another transparent and informative video…I’m just confused about the RRSP/income strategy. I understand it’s advantageous to hold the US listed funds in an RRSP so you don’t get hit with that 15% withholding tax…but surely you’re not pulling the income from the RRSP prior to it’s maturity date? If I was living off that income generated and in my mid 30’s, wouldn’t I be better off taking that 15% hit and holding it in a TFSA?…Here’s to hoping the US govt changes the taxation policy on CDN TFSA accounts! We want our 15% back haha
No we’re not pulling it yet
Thank you Adriano. I really enjoyed your story.
Very inspiring stuff Adrian and Erica. I believe for the work and thought you’ve put into your financial lives that you deserve the success you’ve had. I was interested to learn that you just quit your job only a couple months ago? I thought it had been sooner. Either way, great work and keep it going.
Thanks man🙏 , I quit a few months this ago . Erica quit in dec 2019
Awesome video!
Thanks for sharing your financial journey. Wishing you continued success. Enjoy the warm weather in Panama. Hope you document the steps and lessons learned in moving to another country. Would make a good video.
We will if we decide to make the move ! Don’t worry , We will continue being an open book to all of you
Loved the video, thanks 🙏
Snowbirding in Panama!? Dude, your story is the dream. You better keep posting videos from there! Is there a reason you chose Panama over other warm climes?
Hi Adrian, i didint no you live in Montréal ! I also hate winter ! Haha! And i also have similar goal for financial freedom !
Yup ! I hope I got you motivated . One thing I’ll tell you : it’s worth the sacrifice and ignore any “critics”
Yes, you got me motivated ! I am currently in the warm wheather me to. When i come back , i need a plan ! Haha
Lol yea . Goals and plans are crucial
pump up the volume
I have the very same regret list as you it's interesting isn't it. I think a lot of corporations are going to have a hard time finding talented and motivated workers going forward in the future. I wish you and your wife a very wonderful warm exciting trip in Panama
Another great video, please don't forget to go to Italy it's warm there.:)
We’ve been ! And will be back . Best food in the world hands down .
Love you brother you inspire me so much if I sell my house I will around 800k but scared to take that leap
Just do it if you really want to.
I know it can be scary… book a 1 on 1 with me … maybe it will help
I'm wondering, why you didn't refinance your principal residence instead of selling your condo?
We wanted to become financially free and debt free and move
Adrian is ens a good buy today, thanks 🙏
Yup
Thank you for all you do!!!
You rock Adrian!
Curious, is the correct ORDER of steps for financial freedom; 1) pay off house 2) sell house then use all funds for passive income 3) live w/ relatives or rent a room to grow passive income 4) quit job enjoy life?
Lol I don’t like are 3 but if you do that you’ll definitely get there quicker
This is great! How did you pay off a 20yr mortgage in 7yrs without a penalty? Usually there’s a limit you can pay per year.. 45k fir example for mine
I had no restrictions. It was a variable open mortgage
Wow I had no idea that you were from Montreal. DO you speak french ? Ce serait cool de se parler. J'applique ta stratégie de dividendes avec les CC ETFs. Et je sens que je peux dormir en paix. Merci beaucoup pour tes vidéos. Très apprécié.
Pii bien sur , but I try to avoid speaking French if I have to , it’s not that great 😊
@@PassiveIncomeInvesting Cool bro. And congrats for your financial independence ! I hope someday Il'be there too.
One of the steps was to pay off debt. I started mutual fund investing right out of university, but neglected paying my school loan. I feel like it's holding me back mentally. Would you recommend using this investment to pay off my school loan?
this statement says its all "holding me back mentally" so my answer is YES. investing is not just about numbers, its about the mental too
I wish we could access a portfolio that worked specifically for Australians. We can access US ETFs like QYLD, I wonder if that is enough.
It could be 😉 qyld , ryld xyld could definitely be enough to cover the whole us market
Really inspiring!
Thank you very much once again ;-)
Thanks LP!
Thanks for the update, and congrats on your retirement! May I ask, what made you choose Panama?
It’s the most developed country in Central America , good weather , good rep .
Great content!
Your most important video to date and maybe ever going forward.
Really ? Thanks man , may I ask why you think so ? Just curious
Congrats to you both!
Hi Adrian, you may want to correct a number on one of your slides from 88,0000 to 88,000 (gain on sold condo) 😄
Ok thanks
very nice and honest
Thanks Adrian!! Quick question-did you use the smith manoeuvre to burn your mortgage so quickly?
?? No we just paid it off
Do you think you would be better off instead of trying to pay off the mortgage faster you invested all that money in the markets? I'm you in 2011 but today.... not sure If I use your strategy (prioritize mortgage paid) or invest everything in stocks.
Probably !
Very inspiring and good discipline. Im thinking of holding canadian dividends to have the taxe advantage. Do you think this can be a good strategy because I dont really understand split funds and covered calls
I got videos that explain those in detail
I enjoyed hearing your story but you left out 1 very key decision that was probably one of the largest factors in your ability to reach FI when you did. No kids. According to Loans Canada the average total amount to raise a child up until age 18 is $253,946.97. So not having kids was probably the biggest boost to getting to FI that you didn't mention. For those of us who decided to have kids, it will definitely take considerably longer to get to FI... my wife and I have 4 children, so I will be a while getting to FI... but we will get there too! Panama sounds awesome.
4 kids ! Wow . Good luck 😉
Grateful for your videos, thank you :)
Thank you for sharing so many details of your journey! I wondering why don't you make investing on real estate with levarage as part of your investment portfolio.
Because that’s not passive , I will never invest in hard real estate, I don’t want to deal with all the headaches . I will invest in real estate via the stock market only , so much better !
@@PassiveIncomeInvesting Do you have leverage when investing any stocks or ETFs?
Nope
@@PassiveIncomeInvesting Thanks!
Haven’t watched it yet but I’m so excited! Always such great videos!
Purchased your packet,,,,do you believe in a 10 etf dividend portfolio or more of 70-80 individual dividend payers?
Pretty obvious if you look at my personal portfolio, the first option
I have a question, non-PII related, how did you manage to lose your weight? Gym+ vegan/vegetarian ?
I was Alabama going to the gym … it’s when I added the cardio that and started training differently that those results happened 😎
Hi, do you guys have a joint cash account for trade? If not, why? Most brokers offer this option. It should not be better to have a big amount to invest in the same account? Thoughts?
No but we might consolidate to one in the near future
Just curious in your 2013 active investing. Did you have to pay tax on the $6500?
Yes of course
Awesome journey, great job guys.
how many people in their 30's lucked out with buying RE a few years ago and now have the same opportunity as you guys had to do PII ?? shame that so many will not because parents etc say rent is the worst choice ..
lol parents . If they’re old school , the sooner you stop listening to them and listen to yourself and what YOU really want , things will go much better for you. And I speak from experience
Great video,life insurance is it not required if you are mortgage free,please suggest.
Depends on your situation
Which electric car are you owing TESLA ??
E golf
Great video and accomplishments but people need to stop using the term “retired early” when they are still working. It’s basically changing jobs from a 9-5 to a consulting/youtuber but still working nonetheless.
Yes but it’s a hobby . We don’t “need” to do it whereas the 9-5 is forced most of the time
thanks for this, showing us the path. how much money did you have in the market in 2019?
About 150k in November and 600k in December after we sold the condo and invested it all
You’ll have to eat it on the tax bill if you relocate to Panama. Once you are there though it may be great. Congrats on financial independence
I’ll eat it with pleasure … and it won’t be so bad , I got rrsp room left .😉
Interesting you put all your RRSP in US funds. Why not invest invest in Canadian funds
Watch my latest rrsp unveil video to find out
Could you please share your rsp profile since you changed it all to us funds 🙏
Yes coming in the next portfolio unveil . I’ll show everything instead of just tfsa and cash
Great video!
Thank you for sharing! Hoping to be financially free in 11 years when we are 41. Cheers to you and Erica 🥂
Go for it ! Good luck😉
Sounds like you listened to Dave Ramsey.
Everyone should …
Adrian, you seriously need to show us what you did to loose weight! You look better now in your 30s than your 20s!! How did you do it????
I train 6 times a week ! The gym bro . My second love after investing 😉
Congrats! Much easier without kids, no plans to expand the family?
No , we’re extremely happy
Voice problem
??
Thank you Adrian! Enjoy your trip. Quick question. I still haven’t received extra SBC shares on questrade from the stock split! Do I stay patient or is this a problem?
I’m on Questrade also no extra shares, I also know no extra shares for Wealthsimple SBC holders. Not sure why it’s taking so long ?
Me neither … patience 😉 we’ll get them . Takes a few days I’m sure
@@Rob-ob3sh i got same day end of Bussiness day in Wealth simple
Great video. Also 1 key to financial success, don’t have kids lol. They’re a money pit :) (jk). I have 2.
Totally easy with no kids and living 6 months in very low cost Panama. you can save 1/2 your income… not for everyone though, follow your dreams. comment for the algorithm…
Totally easy with no kids ? Not for everyone ? Why the sourness ? Jealous ? 😎
@@PassiveIncomeInvesting no jealousy from me. I’m set thanks for dropping by with you objective bias
New to your channel. Subbed to help support a fellow finance channel.
Congrats Adrian
Question do u guys have kids?
No
Ahhh, i see. No kids. Lol. Thats how you get to freedom. But great job!
It’s a contributing factor for sure , but we would have gotten there regardless , so don’t make that excuse for yourself