Financial Independence - Before You Quit Your Job Checklist - Early Retirement Tips

[@mogulsinthemaking2057]

I just came across your channel, thank you for providing such a wealth of information. Love it!

[@CanadianRealEstateChannel]

Thanks Mogul! Appreciate the kind words!

[@mogulsinthemaking2057]

Thank you!

[@MikeRosehart]

This video is great. I forgot we did a video on this. Fantastic!

[@jameseden9423]

Never subscribed to KZbin never had a reason seriously unreal content man. I’ve been really putting things off always wanted to get into real estate. You got me focused. Keep on making videos love learning from you.

[@CanadianRealEstateChannel]

Thank You James! This comment means A LOT to me!

[@MikeRosehart]

Glad that you are making the choice to get get focused and get into real-estate. Matt is a great resource you should fully utilize. I'm happy to also pitch in here and there. ;)

[@ianpoulin]

I’ve been watching for some time and haven’t commented before but I figured if I was in your position it would be nice to hear: this is valuable, thank you guys!

[@CanadianRealEstateChannel]

Thank you Ian! We really appreciate you commenting - it does mean a lot to us. Audience feedback/interaction is the reason we're doing this! Glad to hear you got value!

[@edgehodl4832]

Great video !! Healthy people dont realize they have one great asset, their health. I'm thankful everyday for it

[@rickforse8518]

Canada = Socialized Medicine. Totally different in the states. This and housing will be your largest out-of pocket expense. Medical insurance for a family can be as much as $1500 a month here with a HUGE dedutible (7 to 10K). This can be a MONSTER risk. Easy to tolerate when your under 35...not so much over 50.

[@MitPerin]

Really appreciate your insight! Great for people looking to quit to know what to do!

[@CanadianRealEstateChannel]

Thanks Mit! For the lurkers in the comments - Pretty soon I think Mit's going to be making the leap, and you'll see more of him in LDN and on my Channel!

[@tystozarban508]

The two years following a market crash are usually very good. My model suggests the best way to protect your portfolio is holding (not living on) some cash equivalents (cash, short-term bonds, etc.) to go all-in for two years after a severe year. That fairs much better than just sitting on index funds.

[@CanadianRealEstateChannel]

Thanks for sharing your perspective!

[@xlilxtrukita703]

I am still not understanding why there isn't more subscribers your channel is so great 🤗🤗

[@CanadianRealEstateChannel]

Thanks Siomi! Appreciate the support - feel free to share my videos on social media 😉

[@xlilxtrukita703]

Yes of course

[@MikeRosehart]

Going back on this video realized I didn't have my KZbin channel at this time, but I do now. So if you're checking this out & you enjoy the content - check my channel out too.

[@qwekuleroygyimah7728]

Bring back #MikeandMattShow You guys are a power-guru team

[@CanadianRealEstateChannel]

We’re hoping to soon!

[@thiagoghisi]

Loved the format and the content! Great job guys!

[@CanadianRealEstateChannel]

Thanks for the support - it means A LOT!

[@lynxlynx79]

Earmarked this video! Thanks guys for the tips!

[@mathewscott7487]

Great video guys, I have a couple of questions for you. 1. You mentioned re-financing + maxing out your LOC prior to quitting because it would be tough to do so after the fact. What happens when your mortgages are up for renewal and you're self-employed, are you still able to qualify? 2. Probably a dumb question but I'm assuming because your lives will be fully funded using your portfolio there is no need to pay into EI or CPP?

[@MikeRosehart]

Mortgages are auto-renewed with most major banks and you can likely negotiate the rank without having to re-qualify. In my experience re-qualifying is easier than qualifying for the first time. It's definitely harder to qualify for A lender mortgages without a job. I've paid into CPP & EI in the past but yes the idea is that we won't need it or rely on CPP. We will likely not get the max CPP because we haven't spent our entire lives contributing to it...that's a sacrifice I think we are both willing to make. I know I for sure am not willing to work my whole life just to pay into CPP. That said, as a self-employed individual rental income is actually eligible income and thus can increase the room for the RRSP. We also have the option to pay CPP premiums on the income we earn through rental income & other various business sources if we so choose...

[@honestly101]

Thank you Micheal and Matt for another grear video.

[@CanadianRealEstateChannel]

Thanks Noel!

[@MikeRosehart]

Thanks Noel. I just got a youtube account now so forgive my late responses I am trying to go through and respond to comments I've been neglecting.

[@gersonadr2]

Thanks for the great insights! Cheers!!

[@CanadianRealEstateChannel]

Thanks for watching & commenting!

[@sirishgi2597]

Can you guys do a video on commerical real estate investment... Like buying, cashflowing, etc

[@unico2162]

Spending is very tricky... I have a problem with the concept of frugality as it can easily become and obession as much as overspending. I think A certain level of "stupid" spending should be mandatory to avoid madness.

[@CanadianRealEstateChannel]

Interesting perspective - thanks for sharing - thoughts on what dollar amount or % that should be?

[@unico2162]

@@CanadianRealEstateChannel it's very difficult to quantify as it probably depends on each person's tendency to obsess over frugality. I would say... focus on making more and spend more to the same rate. But choosing to stale in frugality just leads to deflation. Spending is also a sort of "moral" duty of the rich, it takes culture to appreciate the fine things of life which require incredible talent and skill to create, it is the duty of the rich to support the creation of such things as the majority of people cannot. With frugality you cannot support excellence in many fields where simply it would not be sustainable to put the necessary time and effort unless there are "patrons" willing to pay the premium.

[@petergilfoy8788]

Good call on proactively getting an increase on line of credit while it’s still possible.

[@CanadianRealEstateChannel]

Thanks for watching!

[@jeffminnesota7376]

Great video, great tips. Lean fire.....

[@CanadianRealEstateChannel]

Thanks Jeff!

[@Rell1388]

Wait can you explain why it would be harder to access credit once you become a real estate investor?

[@CC-yv3tx]

haha! green house lottery guy is a London legend!

[@CanadianRealEstateChannel]

Haha

[@alfonsosolano3486]

Interesting video thank you!

[@CanadianRealEstateChannel]

Glad you enjoyed it Alfonso!

[@KellanJames]

21:14 You'll be happy to know that Elon Musk put a towel in the glovebox of the Roadster that he launched into space (not joking).

[@CanadianRealEstateChannel]

🤣 that is awesome!

[@cz6900]

Did you graduate university/college?

[@CanadianRealEstateChannel]

Yes, both Michael and Myself graduated University. He went to Western, and I went to Guelph.

[@KellanJames]

Reviewing this video.. for no particular reason..

[@CanadianRealEstateChannel]

Hahaha

[@cirtey29]

Learn statistical arbitrage and throw that garbage index buying.