Seeing you all teary at the house made me want to give you a hug... And then the Huge smile when you left the lawyer office was priceless! It's a big step, onwards and upwards, make the rest of your life the best of your life 🤗
Your virtual hug is just as great and truly appreciated 😉 It's a strange and liberating feeling to no longer have a home base in Canada! But we are truly excited for what is coming!
From a guy who has moved 15 times in my life, not counting interim stays, a house is just a house. The intangibles make it a home. There's always something better coming, so don't be sad about selling.
@@FIREWeGo First we are headed to Brantford to move into our town house that we used to rent out...from 2100 square ft to 1200 square ft! Then we are a bit undecided between Portugal, Panama or drive across Canada to BC then down the coast to see my sis in San Diego...we are big hockey fans so catching games in the US in the near future will be part of the plan. I'm headed to Thailand at the end of the year...my wife will pass on that. lol
WOW--thanks for sharing that special moment with us! I didn't get to think we would see it. I remember we worked so hard to sell my parents house and on closing day when I put a brand new welcome mat and plant on the front porch for the new owners, I though about how many times I had been in that house before and how now as we went to sign the papers, it felt so foreign. That feeling of "Home" was not there anymore. It was emotional and I forgot about those feelings until I saw them in you, Kristine! It's really a change, isn't it? And now I have to give you a hard time. Because your next move was to go to McDonald's, the icon of TOTALLY PROCESSED FOOD and then you are off to a SPA where they give you treatments to "Detoxify" your body? The contrasts of those two places were not lost on me! 🙂 But as I listened to you talk, what struck me is how fast you closed down your structured life in Canada and are now moving on. You no longer are required to report to work or have the same deadlines you have lived under for years and years. And Gean, as you were talking about going to Canada did you ever think you would meet your wife here? WOW--what great changes have happened to both of you since 2019. Congratulations as you start this next chapter of your life. I will be interested in knowing what you think of the cruise. They are wonderful (hint--go on Deck 5 or the promenade [Walking Track] deck and sit at the back of the boat--it's a wonderful area of seclusion. We sat there many times). As much fun as cruises are, they are "profit centers" (the bars, the merchandise sales they have in the main atrium, the pictures) and all have daily targets they are trying to achieve. Now that you are attune to costs and financial independence, you will see it more clearly than most cruisers. Still there is plenty to do that is included in the cost of your trip and that always was my goal--to see how much I could do that was included in the base cost. For me sitting on deck (whether from our cabin or a remote spot I found on the ship) was my favorite part of the experience! Looking forward to hearing what you thought of the cruise and how you are adjusting to your new "Independence".
Sarah, thank you so much for a wonderful comment! You're ao right, the house was emotional, but at the same time exciting! We can not wait to see what is next for us. The soa was amazing...and McDinalds was a necessity...lol, we had no food! 😉 Funny you me turned the track, we just went fir a walk of the ship, saw this chairs and said the exact same thing you did, that it would be a great spot for a bit of quiet time! We have already noticed the sales pitch for several areas in the ship, so we will be trying to find all those free activities you mentioned... we will keep you posted!
I really liked your humility and compassion towards other cultures. So refreshing and yes, we are very lacking in this type of content in Canada so I am very glad you are here!
I'm super happy for you Gean and Kristine! I've been a viewer of your channel since the start of your journey and I'm glad that all your future plans are now coming to fruition. Selling your home can be an emotional experience and I can relate as that was how I felt when we sold our house and downsized to a condo. I really hope that I get to meet you guys one of these days! Oh, and I hope Gean enjoyed his pedicure : )
Thank you so much Virna!! He loved the pedicure...so I may be able to get him to go another time with me 😉 The house was emotional, but now we feel great! We feel lighter! We really hope that we will get to meet you too one day soon! Take care, and chat in a few days
Congratulations, so happy for you both. Wish you all the best, you've done it well done! Can't wait to see your adventures. My husband has already retired and is waiting on me to retire next year or possibly before then. I am almost 49 wanted to work until 50 but think I might quit before then as work has become very stressful lately. You guys inspire us. You never know we could run into each other in our travels, we are from Ireland but live in USA and are planning on moving back to Europe. Can't wait to follow you on your journey in retirement.
Thank you so much! It's a hard decision to make, but I can tell you the stress may not be ultimately worth it for one more year! We would love to meet up in the future, Europe, and all those beautiful locations are on our list! Would you guys go back to Ireland or somewhere else?
@@FIREWeGo Totally agree stress may not be worth it for one more year, as stress really isn't good for us especially if it is impacting our sleep like it is with mine. Ireland has become very expensive so we are thinking of moving to Portugal for at least a few years as we love it there. That way we can still visit Ireland often as it is so close, Long term we are still not sure where we will settle yet. Yes would love to meet up with you guys in the future.
I totally get the feeling. We are currently selling our first house!! Such a bitter sweet moment! We initially wanted to just rent it. But now decided to just sell it. We are still leaving like 15 minutes away in our second house, still working on achievining our fire number. Probably 3-4 years away still. So thankful you are sharing your process 😊 thank you so much! And congrats!! Cant wait to see what the next couple of months/years bring for you!! 🎉😊
It is definitely bitter sweet! Buy for us, selling really made sense, and sou d slime it does fir you guys as well! 3-4 years is going to pass by in a flash!
Congratulations! I think you made the right decision to sell the house. You now have freedom to really enjoy your travels. Looking forward to following along on your exciting adventures!
Congratulations! Bitter sweet moments to have such a milestone, hope you are being mindful of this milestone as well…and now onwards and upwards to new and exciting memories!
Congratulations, TIME is now yours! So very happy for both of you- you have worked so hard and planned so well. Looking forward to following your next chapter.
Congrats on starting the next part of your journey together. I hope you include us along the way. I would love it if you share all your travel hacks that you pick up along the way. Nothing is wrong with the very occasional pedicure. I have had two and didn't mind them.
You can count on us sharing all the adventures and the finances along the way! We hope to show you guys that this is a possible reality if it suits your lifestyle 😁
You did it. Moi, paying off my place so no mortgage. Lacrimose comes to mind...leaving your house, but here's to everything that will become. To your future, you have all the time in the world. Congrats on the life change. If you make it Las Vegas, look me up. What a journey from the debt hole to financial freedom. I've taken a similar journey, adjusted for inflation 😂 Toronto is the little apple. Dominion Centre is Mies van der Rohe's masterpiece. When I lived in so called upstate New York, I enjoyed southern Ontario and Quebec.
Thanks Kevin! You will no doubt be mortgage free in no time at all! You're very determined 😁 We have never been to Vegas, but would lo e to see it, we hear it is spectacular! So when we are in town, expect a visit!! 😉
Wow! This is the best part. Take a deep breath, you're at sea, relax and wonder what all the working people are doing right now. Cruising is fun. If you sail around Europe on Celebrity we just may run into you.
Thanks Mike! Great advice for sure, we are looking forward to seeing if we enjoy cruising as well!...it would be great to meet up, a Celebrity ship just passed us leaving Miami! We are on Royal Carribean 😉 when are you un Europe?
@@sandray7609 We spent winters at our house in Costa Rica right up to last month (we sold the house). We'll find new winter getaways. Summer in Ottawa and some time in the British Ilses. One cruise and one adventure tour in the Fall. We typically don't make plans.
You did the right thing by selling the home. Being a remote landlord isn't wise. Where are you headed from here? I am doing a western US and Canada Road trip this summer, then in the fall i'll be in Madrid and Anadalucia, Spain (Seville, Granada). I plan to spend Spring 2025 in Vietnam 😊 If any of the destinations cross paths let's meetup sometime! Congrats again on your new exciting journey.
Thank you so much! We felt as though it was the right decision for sure. Your itinerary sounds great, though we may just be missing you in Spain! We are headed there now and will be in Brazil as of August. How long will you be in Vietnam? We are headed that way in the fall of 2025!
@@FIREWeGo awesome! I'll be in Vietnam for 3 months, they recently changed their visa rules so now you can get an e-visa for 90 days :) I plan on slow traveling from the South (Ho Chi Minh city) then making my way through the coast (Da Nang, Hue) and finally up north to Saigon and Ha Long bay. I plan to do the Ha Giang loop as well which has been on my radar for a while :) Enjoy your travels!!
Congrats 🎉🎉😊 you guys! No more tears, it's fun times ahead now ok. You both make me laugh about the Spa thing. Lol! 😂😅. But seriously, I do hope Gean enjoyed his pedi. I haven't been able to get my husband to do that yet. Lol! Maybe one day. 😂 Seriously, you both have put in the hard hard work and now see its paid off because you guys are now 💯 % free!! Yay!✨️🎊🎉. You have reached FIRE 🔥. Now, it's time to live your lives on your own terms. See the big world and live really good for a fraction of what you guys was paying monthly in Canada. I know because I have experienced it myself just from living in the Middle East for 12 years counting. And yes some things can be a little expensive but it is still cheaper for my family and I to live here instead of the states. But that's where the budget comes and you can really save a lot. Dear friends you will be just fine traveling the world. Cheers! You Did It!❤ I am so happy for you both. 🎉😊💥✨️😇
That is so nice... Thank you for such a wonderful message! We are very proud of the achievement, and are wondering when it will set in that we don't have to go back to work. at the moment it just feels like a giant holiday! Lol, one day we will come to visit you, be prepared! 😉
@@FIREWeGo awww...I can't to see you both of you in person too. I will be here waiting. Fun times it will be. And yes once I quit my job, it didn't really hit me either. I felt I still needed to go to work. I think it was the end of February or March were I finally adjusted to not working again. To be honest with you, it was a big adjustment for me but I have settled in to my new life now. Lol 😆. You guys will be just fine too. I will be watching your videos with excitement to see you guys land next. Cheers!✨️😇 🔥.
Sorry I'm new to the channel so forgive me if this was already discussed, I'm making my way backwards the the previous videos. Before deciding to sell the house did you run the numbers to keep it and renting it out with the help of a property management company? Either way selling is the right move for the reasons you stated and now you don't have to worry about the Toronto Vacant Home Tax and the eventual "Rain Tax".
Heklo and welcome! We did run the numbers before selling. We could have kept the house and managed to just about break even with the current interest rates and wait for them to go down a bit. We had a great situation with our renter, and they would have rented the entire house and looked after it for us. In the end, it was the simple fact that we won't return to Toronto and we didn't want the stress! 😉
Wow thats amazing life is short and enjoy it. After selling your house including your retirement how much is your networth and do you generate passive income to support ypur travel?
Our investments generate our income, and at the moment, that is around 60k in dividends! We have other investments in growth, so fingers crossed this will all be sufficient 😉
Thanks for reaching out! We have reached our 60k per year goal, and that is for the two of us. It works out to 5,000 per month. We still share our monthly dividend income strategy breakdown with our members every month. 😉
Pretty typical. Biggest travel RUclipsrs are Canadian. There’s not many that come from Florida or Hawaii. Climate is a contributing factor why people want to escape and become travelers
Congrats guys! Tis bittersweet 🥹 Your journey is inspiring! Curious if y'all use TFSA while abroad or liquidate while traveling because of taxes and residency? Thank you! ☺️
Thank you! No, we are not touching our TFSA if we can help it. We are waiting for them to keep growing! We will continue to contribute each year. As we are remaining tax residents of Canada, we will continue to receive the contribution room each year 😁
So tax residency doesn't necessarily disappear when you leave the country. As we will not be staying in any one country long enough to be declared a tax resident there, we will continue to pay tax in Canada. As well, we still have bank accounts, and the corporation open and active in Canada, as well as an address with family 😊
@@FIREWeGo oh that's really good to know that there are factors like these that define Canadian tax residency! and that TFSA contribution room is still applicable which is awesome! I'm thinking of keeping my TFSA which has mostly dividends while traveling, are they taxed at normal tax brackets or would they be tax free as long as we keep Canadian residency?
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Seeing you all teary at the house made me want to give you a hug... And then the Huge smile when you left the lawyer office was priceless! It's a big step, onwards and upwards, make the rest of your life the best of your life 🤗
Your virtual hug is just as great and truly appreciated 😉 It's a strange and liberating feeling to no longer have a home base in Canada! But we are truly excited for what is coming!
From a guy who has moved 15 times in my life, not counting interim stays, a house is just a house. The intangibles make it a home. There's always something better coming, so don't be sad about selling.
That is so nice, thank you!
If it feels uncomfortable, you’re growing. Congrats 👏
Lol, we love this. You're so right, this does mean we are growing and changing!
@@FIREWeGo you got it! Where are you guys now?
Lol..the middle of the Atlantic on a repositioning cruise 🛳 😎
@@FIREWeGo Amazing! Can wait to follow along :)
You've done it! 🎉 The toughest part is done. Now's the time for you both to enjoy life to the fullest ❤
Yes! Thank you!
We're doing the same...leaving Brampton. I'm excited for you guys. All the best and of course stay safe!
Thanks so much! Where are you guys headed to from Brampton?
@@FIREWeGo First we are headed to Brantford to move into our town house that we used to rent out...from 2100 square ft to 1200 square ft! Then we are a bit undecided between Portugal, Panama or drive across Canada to BC then down the coast to see my sis in San Diego...we are big hockey fans so catching games in the US in the near future will be part of the plan. I'm headed to Thailand at the end of the year...my wife will pass on that. lol
Sounds like an amazing plan!!!!
Congratulations! I'm super excited for you! ❤🎉❤
Thank you so much!! We are as well!
WOW--thanks for sharing that special moment with us! I didn't get to think we would see it. I remember we worked so hard to sell my parents house and on closing day when I put a brand new welcome mat and plant on the front porch for the new owners, I though about how many times I had been in that house before and how now as we went to sign the papers, it felt so foreign. That feeling of "Home" was not there anymore. It was emotional and I forgot about those feelings until I saw them in you, Kristine! It's really a change, isn't it?
And now I have to give you a hard time. Because your next move was to go to McDonald's, the icon of TOTALLY PROCESSED FOOD and then you are off to a SPA where they give you treatments to "Detoxify" your body? The contrasts of those two places were not lost on me! 🙂
But as I listened to you talk, what struck me is how fast you closed down your structured life in Canada and are now moving on. You no longer are required to report to work or have the same deadlines you have lived under for years and years. And Gean, as you were talking about going to Canada did you ever think you would meet your wife here? WOW--what great changes have happened to both of you since 2019.
Congratulations as you start this next chapter of your life. I will be interested in knowing what you think of the cruise. They are wonderful (hint--go on Deck 5 or the promenade [Walking Track] deck and sit at the back of the boat--it's a wonderful area of seclusion. We sat there many times). As much fun as cruises are, they are "profit centers" (the bars, the merchandise sales they have in the main atrium, the pictures) and all have daily targets they are trying to achieve. Now that you are attune to costs and financial independence, you will see it more clearly than most cruisers. Still there is plenty to do that is included in the cost of your trip and that always was my goal--to see how much I could do that was included in the base cost. For me sitting on deck (whether from our cabin or a remote spot I found on the ship) was my favorite part of the experience! Looking forward to hearing what you thought of the cruise and how you are adjusting to your new "Independence".
Sarah, thank you so much for a wonderful comment! You're ao right, the house was emotional, but at the same time exciting! We can not wait to see what is next for us. The soa was amazing...and McDinalds was a necessity...lol, we had no food! 😉
Funny you me turned the track, we just went fir a walk of the ship, saw this chairs and said the exact same thing you did, that it would be a great spot for a bit of quiet time!
We have already noticed the sales pitch for several areas in the ship, so we will be trying to find all those free activities you mentioned... we will keep you posted!
@@FIREWeGoYou'll have to work to find the free ones but they are there! They make the paid ones easier to find....HA!
Lol, seems about right!
I really liked your humility and compassion towards other cultures. So refreshing and yes, we are very lacking in this type of content in Canada so I am very glad you are here!
Thank you so much! That means a lot 🤗
And now the fun begins! Have an awesome time guys!
Thank you so much...right now the ship is rocking! Any tips?!?! 🫣
I'm super happy for you Gean and Kristine! I've been a viewer of your channel since the start of your journey and I'm glad that all your future plans are now coming to fruition. Selling your home can be an emotional experience and I can relate as that was how I felt when we sold our house and downsized to a condo. I really hope that I get to meet you guys one of these days! Oh, and I hope Gean enjoyed his pedicure : )
Thank you so much Virna!! He loved the pedicure...so I may be able to get him to go another time with me 😉 The house was emotional, but now we feel great! We feel lighter! We really hope that we will get to meet you too one day soon! Take care, and chat in a few days
Congratulations! Look forward to following on your new journey!
Thanks so much, Patrick!! 😁
Congratulations, so happy for you both. Wish you all the best, you've done it well done! Can't wait to see your adventures. My husband has already retired and is waiting on me to retire next year or possibly before then. I am almost 49 wanted to work until 50 but think I might quit before then as work has become very stressful lately. You guys inspire us. You never know we could run into each other in our travels, we are from Ireland but live in USA and are planning on moving back to Europe. Can't wait to follow you on your journey in retirement.
Thank you so much! It's a hard decision to make, but I can tell you the stress may not be ultimately worth it for one more year! We would love to meet up in the future, Europe, and all those beautiful locations are on our list! Would you guys go back to Ireland or somewhere else?
@@FIREWeGo Totally agree stress may not be worth it for one more year, as stress really isn't good for us especially if it is impacting our sleep like it is with mine.
Ireland has become very expensive so we are thinking of moving to Portugal for at least a few years as we love it there. That way we can still visit Ireland often as it is so close, Long term we are still not sure where we will settle yet. Yes would love to meet up with you guys in the future.
That sounds like an excellent plan! We were in m Portugal last year and loved it!
I totally get the feeling. We are currently selling our first house!! Such a bitter sweet moment! We initially wanted to just rent it. But now decided to just sell it. We are still leaving like 15 minutes away in our second house, still working on achievining our fire number. Probably 3-4 years away still. So thankful you are sharing your process 😊 thank you so much! And congrats!! Cant wait to see what the next couple of months/years bring for you!! 🎉😊
It is definitely bitter sweet! Buy for us, selling really made sense, and sou d slime it does fir you guys as well! 3-4 years is going to pass by in a flash!
Congratulations! I think you made the right decision to sell the house. You now have freedom to really enjoy your travels. Looking forward to following along on your exciting adventures!
Thank you! We can't wait to have you guys share in the journey as well!
Congratulations! Bitter sweet moments to have such a milestone, hope you are being mindful of this milestone as well…and now onwards and upwards to new and exciting memories!
We are definitely mindful and grateful for all the house has allowed us to achieve. Thank you so much for reaching out!
We sold everything, retired early and left Canada on Feb 29 2024. Best decision ever.
We couldn't agree more! Where did you head to?
@@FIREWeGo we have been in Albania almost 3 months and are soon moving to Montenegro.
Amazing! And we assume that you have enjoyed it a lot?
@@FIREWeGo We would not change a thing.
🤗❤️
Congratulations, TIME is now yours! So very happy for both of you- you have worked so hard and planned so well. Looking forward to following your next chapter.
Thanks, Kerri. we really do, and we appreciate all of the support. We can't wait to show you guys all the chapters to come!
We have been in the same house for 32 years. I can't imagine leaving ❤
It is definitely a hard decision!
Congrats on starting the next part of your journey together. I hope you include us along the way. I would love it if you share all your travel hacks that you pick up along the way. Nothing is wrong with the very occasional pedicure. I have had two and didn't mind them.
You can count on us sharing all the adventures and the finances along the way! We hope to show you guys that this is a possible reality if it suits your lifestyle 😁
Hope you both are going to write a book... its going to be top-seller. I'll sure buy it. Enjoy Europe👐🌞
Well a book is certainly a good project to think about! Maybe we will do just that, thanks for the idea 💡 👍
Big congrats to you both! Blessings for a beautiful retirement journey! 😊
Thank you so much! We appreciate that 😉
Happy for you both. Your whole new exciting life is ahead of you. 👏👏👏
Thank you so much!!
Congratulations guys!! Looking forward to your future videos of travels and finances.
Thanks so much, Paul! We are looking forward to sharing that with all of you as well 🙂
Congratulations! You've both worked hard to make your dream happen in a short period of time.
Thank you so much! We are super happy with our progress as well!
You did it. Moi, paying off my place so no mortgage.
Lacrimose comes to mind...leaving your house, but here's to everything that will become. To your future, you have all the time in the world.
Congrats on the life change. If you make it Las Vegas, look me up.
What a journey from the debt hole to financial freedom. I've taken a similar journey, adjusted for inflation 😂
Toronto is the little apple. Dominion Centre is Mies van der Rohe's masterpiece. When I lived in so called upstate New York, I enjoyed southern Ontario and Quebec.
Thanks Kevin! You will no doubt be mortgage free in no time at all! You're very determined 😁
We have never been to Vegas, but would lo e to see it, we hear it is spectacular! So when we are in town, expect a visit!! 😉
Congrats and hugs!
Thank you! Hope you are having a great time! 😉
Wow! This is the best part. Take a deep breath, you're at sea, relax and wonder what all the working people are doing right now. Cruising is fun. If you sail around Europe on Celebrity we just may run into you.
Thanks Mike! Great advice for sure, we are looking forward to seeing if we enjoy cruising as well!...it would be great to meet up, a Celebrity ship just passed us leaving Miami! We are on Royal Carribean 😉 when are you un Europe?
@@FIREWeGo In the Fall (Croatia), then Holland in the Spring (Bike Boat Tour). Somewhere sunny in between those times.
That sounds great!! A bike boat tour....now that is different! 😉
@@mikep4869cool. Do you travel all year or just the cold months?🙂
@@sandray7609 We spent winters at our house in Costa Rica right up to last month (we sold the house). We'll find new winter getaways. Summer in Ottawa and some time in the British Ilses. One cruise and one adventure tour in the Fall. We typically don't make plans.
Gean you will LOVE the pedicure! When I finally got my hubby to get one with me… watch out! He’s addicted now!
So is Gean! He told me he would go again 😊
You did the right thing by selling the home. Being a remote landlord isn't wise. Where are you headed from here? I am doing a western US and Canada Road trip this summer, then in the fall i'll be in Madrid and Anadalucia, Spain (Seville, Granada). I plan to spend Spring 2025 in Vietnam 😊 If any of the destinations cross paths let's meetup sometime! Congrats again on your new exciting journey.
Thank you so much! We felt as though it was the right decision for sure. Your itinerary sounds great, though we may just be missing you in Spain! We are headed there now and will be in Brazil as of August. How long will you be in Vietnam? We are headed that way in the fall of 2025!
@@FIREWeGo awesome! I'll be in Vietnam for 3 months, they recently changed their visa rules so now you can get an e-visa for 90 days :) I plan on slow traveling from the South (Ho Chi Minh city) then making my way through the coast (Da Nang, Hue) and finally up north to Saigon and Ha Long bay. I plan to do the Ha Giang loop as well which has been on my radar for a while :) Enjoy your travels!!
Congrats 🎉🎉😊 you guys! No more tears, it's fun times ahead now ok. You both make me laugh about the Spa thing. Lol! 😂😅. But seriously, I do hope Gean enjoyed his pedi. I haven't been able to get my husband to do that yet. Lol! Maybe one day. 😂
Seriously, you both have put in the hard hard work and now see its paid off because you guys are now 💯 % free!! Yay!✨️🎊🎉. You have reached FIRE 🔥. Now, it's time to live your lives on your own terms. See the big world and live really good for a fraction of what you guys was paying monthly in Canada. I know because I have experienced it myself just from living in the Middle East for 12 years counting. And yes some things can be a little expensive but it is still cheaper for my family and I to live here instead of the states. But that's where the budget comes and you can really save a lot.
Dear friends you will be just fine traveling the world. Cheers! You Did It!❤ I am so happy for you both. 🎉😊💥✨️😇
That is so nice... Thank you for such a wonderful message! We are very proud of the achievement, and are wondering when it will set in that we don't have to go back to work. at the moment it just feels like a giant holiday! Lol, one day we will come to visit you, be prepared! 😉
@@FIREWeGo awww...I can't to see you both of you in person too. I will be here waiting. Fun times it will be.
And yes once I quit my job, it didn't really hit me either. I felt I still needed to go to work. I think it was the end of February or March were I finally adjusted to not working again. To be honest with you, it was a big adjustment for me but I have settled in to my new life now. Lol 😆. You guys will be just fine too. I will be watching your videos with excitement to see you guys land next. Cheers!✨️😇 🔥.
Congrats on this first big huge move !!!
Thank you!!
Congrats!!!
Thank you so much!
You two are so sweet ❤wish you all the best 😊
Thank you so much 😀 that means alot!
Congratulations! Well done!
Thank you! We are super happy 😄
Congratulations!!
Thank you!!
Congrats 👏
Thank you so much!
Congratulations
Thank you Darrell! How is your first few weeks of FIRE going?!?!. We want to hear!
Sorry I'm new to the channel so forgive me if this was already discussed, I'm making my way backwards the the previous videos.
Before deciding to sell the house did you run the numbers to keep it and renting it out with the help of a property management company?
Either way selling is the right move for the reasons you stated and now you don't have to worry about the Toronto Vacant Home Tax and the eventual "Rain Tax".
Heklo and welcome! We did run the numbers before selling. We could have kept the house and managed to just about break even with the current interest rates and wait for them to go down a bit. We had a great situation with our renter, and they would have rented the entire house and looked after it for us. In the end, it was the simple fact that we won't return to Toronto and we didn't want the stress! 😉
Bittersweet!
It really is! But we are excited for the next part!😊
Wow thats amazing life is short and enjoy it. After selling your house including your retirement how much is your networth and do you generate passive income to support ypur travel?
Our investments generate our income, and at the moment, that is around 60k in dividends! We have other investments in growth, so fingers crossed this will all be sufficient 😉
@@FIREWeGo nice what are your top two divided holding stocks or etfs?
That’s a million dollar house in Toronto?😊. Good time to sell
Really good time!
So now I know howyou did it.
You lived on cheerios 😂
Lol...with bananas!! Delicious and cost effective!
Did you guys reach your goal of $6000 per month yet? also jw that is between you two or each?
Thanks for reaching out! We have reached our 60k per year goal, and that is for the two of us. It works out to 5,000 per month. We still share our monthly dividend income strategy breakdown with our members every month. 😉
Pretty typical. Biggest travel RUclipsrs are Canadian. There’s not many that come from Florida or Hawaii. Climate is a contributing factor why people want to escape and become travelers
And the desire to see the world. So much more to experience.
Nothing better for dudes than having nice clean feet and nails!!!
Couldn't agree more! We forsee future pedicures for us both! Lol
Congrats guys! Tis bittersweet 🥹 Your journey is inspiring! Curious if y'all use TFSA while abroad or liquidate while traveling because of taxes and residency? Thank you! ☺️
Thank you! No, we are not touching our TFSA if we can help it. We are waiting for them to keep growing! We will continue to contribute each year. As we are remaining tax residents of Canada, we will continue to receive the contribution room each year 😁
@@FIREWeGo That's so awesome!! If I may ask how you guys are continuing to remain tax residents of Canada while traveling?:o Best of both worlds 😄
So tax residency doesn't necessarily disappear when you leave the country. As we will not be staying in any one country long enough to be declared a tax resident there, we will continue to pay tax in Canada. As well, we still have bank accounts, and the corporation open and active in Canada, as well as an address with family 😊
@@FIREWeGo oh that's really good to know that there are factors like these that define Canadian tax residency! and that TFSA contribution room is still applicable which is awesome! I'm thinking of keeping my TFSA which has mostly dividends while traveling, are they taxed at normal tax brackets or would they be tax free as long as we keep Canadian residency?