How to Retire Early (Part 1)

May 4, 2015

In this discussion, Julie Cazzin, a national award-winning finance journalist and Senior Editor at MoneySense, shares valuable insights on retiring early. She explains top strategies for budgeting and expense tracking, alongside the importance of diversifying income through investments. Julie also challenges the traditional view of retirement, suggesting it should be a time to explore passions and purpose. Listeners learn about common pitfalls to avoid in early retirement planning and the significance of consulting professionals to enhance financial decisions.

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Episode notes

Intro

00:00 • 4min

Early Retirement Strategies for Canadians

03:31 • 14min

Redefining Retirement: Passion and Purpose

17:20 • 4min

Navigating Early Retirement Mistakes

21:44 • 6min

Strategies for Early Retirement Planning

27:42 • 2min

Today I am REALLY excited to have none other than Julie Cazzin on the show, who is going to tell us all about how we can retire early.

Julie is a national award winning business and personal finance journalist. She is a founding member and Senior Editor at MoneySense.

While she consistently writes some of the most popular columns for MoneySense, she’s also written for Readers Digest, Canadian Business, Maclean’s, and many others.

Julie has also appeared as a television guest on CityTV, Rogers and CTV as well as several radio shows throughout the years, speaking on a wide range of personal finance topics.

Links and Resources

Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I’ve personally used to help us achieve financial independence in our early 30s. They’re also what we use now to optimize and manage our finances, and ensure that we’re paying the lowest fees while getting solid returns on our investments.
Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest
Julie’s Articles on MoneySense

Questions Covered:

What are some top tips you can give to Canadians that want to retire early?
How can we figure out if we have enough to retire early?
What are some top mistakes someone can make if they want to retire early?
What are some top mistakes someone can do if they are already retired? (whether it was early retirement or not)
While saving for an early retirement, would you recommend index investing by purchasing broad market ETFs or funds, or do you recommend a different strategy? (ex. dividend investing)
While saving for an early retirement, would your asset allocation be different compared to someone that is planning on retiring early?
What are some of the unique challenges that we have to worry about if we are planning to retire early vs doing the more traditional retirement at age 65. (i.e. Impact of CPP, OAS, and pensions come to mind).
Once we manage to retire early, what suggestions can you make in terms of asset allocation?
Your thoughts on a safe withdraw rate?
How would you suggest using TFSA, RRSP, and unregistered accounts while saving?
How would you suggest using TFSA, RRSP, and unregistered accounts while retired early?
What are annuities and is it possible to purchase annuities here in Canada if we are a young retiree?