Home » What FIRE (Financial Independence, Retire Early) Means for Canadians, with Bob Lai financial independence retire early

What FIRE (Financial Independence, Retire Early) Means for Canadians, with Bob Lai financial independence retire early



In case you haven’t heard, there’s a movement creating waves in the world of personal finance, and it’s got a name. The acronym is known as FIRE, and it stands for Financial Independence, Retire Early.

It describes a community of people who have saved enough money to live off of the income that their investments generate. In other words, work has become optional.

What’s interesting, is that many people are achieving financial independence at a very early age, some as early as their 30’s.

Bob Lai is my guest in this week’s episode. Bob is the founder of Tawcan, a popular personal finance blog which specializes on the topic of financial independence, and early retirement.

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Bob explains why the FIRE acronym can be misleading, and why financial independence, rather than early retirement, is the more important goal. Bob shares definitions like “Lean FIRE”, and “Fat FIRE” and explains how they differ.

Bob explains that FIRE should never be about deprivation or extreme frugality. Instead, like most things in life, it’s all about balance. In other words, the balance between saving for the future and spending for today.

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You can find the show notes for this episode at

Are you ever unsure about how much room you have left for RRSP contributions? Our sponsor, Wealthsimple, has an RRSP tracker that takes into account your salary, adjusts for any raise you get, plus the contributions already made to your RRSP and employer plans. Find out more at .

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What FIRE (Financial Independence, Retire Early) Means for Canadians, with Bob Lai

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4 thoughts on “What FIRE (Financial Independence, Retire Early) Means for Canadians, with Bob Lai financial independence retire early”

  1. The best advise for early retirement don't have kids specially know a days kids aren't worth as the old value of elderly reflect gone out thr window. Live your best life.

  2. Any suggestions for spreadsheets to track investments? (RRSP, TFSA, RESP, US Margin etc.) I’m thinking like updated closer to real time version of the year-end CRM2 type reports. Any suggestions welcome 👍💵💰💵💰💵💰💵💰💵💳⚖️#️⃣➕✖️➗➖💲

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