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FI Garage

FI Garage

Author: @FI_Garage

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The FI Garage opens the toolbox and shows you the tools you'll need on your journey to Financial Independence in Canada.
19 Episodes
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Show notes for episode #13 In this episode, the Mechanic, the Accountant, and the Economist discuss a listener email and ponder some FI approved drinks. We’ll sample a few new beers as usual too. If you found this podcast you’re probably familiar with the FI/RE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional. *These show notes include referral or affiliate links – donated by an asterisk. Thanks for helping to support the podcast! Beer #1 – Radler made with Lucky Lager [1:30]Lucky Lager WAS brewed in Victoria until 1982Useful Financial Product [5:05]Koho (Visa)0.5 percent cashback Our referral code is OXQM6GDT*The signup bonus is an additional 1 percent cash back for your first 90 days – not much of a deal.Stack (Mastercard)special offersOur referral link is here*You get $20 for signing up – not bad! – and we get $5. Pre-loaded credit cardsNot a
The Money Mechanic turned on the FI Garage recording gear while he was having a beer with his partner/wife earlier this year. They had a quick talk about their personal finance journey together. What are we drinking (0:53)Snowblind Belgian-Style IPA – Brewed & Bottled in Fernie, BC by Fernie Brewing Co Juicy Pale Ale – Brewed & Bottled in Vancouver, BC by Postmark Brewing DiscussionBeing a team on the path to FI (3:25)The transition from not being mindful about spending to being anal about spending (3:57)Allowing for some slack for the spending of your partner (5:10)Mustachian lifestyle (8:57)10:10 – OCMChoosing to go on FI journey together (11:29)Quality over Quantity (12:55)Bringing your finances together (13:20 & 15:05)Moving back to Canada and paying off debt (14:30)Shout out to Paula Pant – afford anything, not everything (17:40)Reading FIRE blogs and listening to FIRE Podcasts (18:00)Parting words – Make sure your part
Show notes for episode #12In this episode, the Mechanic, the Accountant, and the Economist discuss credit cards. We’ll sample a few new beers as usual too. If you found this podcast you’re probably familiar with the FI/RE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional. *These show notes include affiliate links – donated by an asterisk. (Because we are bad at monetization all of our affiliate links for credit cards are through rate supermarket; if you sign up for a card through our link they split the affiliate fee with us 50/50) – Thanks for helping to support the podcast! Beer #1 – Glutenberg IPA – Brewed & Bottled in Montreal, QC by Glutenberg Brewing (1:10)Interesting Product – PayTM (5:50)Click here for the Money Mechanic’s referral code for PayTM* use code PTM6078994.Cashback on your property taxes (6:33)Cashback on electricity
Today on the FI Garage The Economist and The Accountant have a beer and get to speak with Bob Lai, who writes at Tawcan.com.Introduction [0:40]Financial Epiphany (1:07)A family full of early retirees (1:40)Blog topics (2:50)Questions for BobBob had 3 weddings that inspired 2 cookbooks (3:35)Why cookbooks? (5:08)Bob’s first blog was a recipe blog: Three More Bites (5:30)Was money openly discussed in your family? (6:10)Did your family provide you with information about the net worth numbers needed for financial independence (7:15)Focusing on Dividend income and not drawing down portfolioAre you focusing on dividend investing as a hedge against sequence of return risk? (8:35)Riding out the financial crisisPassing down dividend portfolio to kids – building a legacyUsing logic to avoid a panic sale (11:40)Father provided financial guidance during the economic downturnYou said didn’t have an allowance growing up, are you going to give your kids an allowanc
Show notes for episode #11* These notes contain referral links donated by an asterisk.In this episode, the FI Garage discusses alternative investment choices: what we’re experimenting with and what our thoughts are. We sample a few new beers as usual too. If you found this podcast you’re probably familiar with the FI/RE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional. Beer #1 – Heritage River Hefeweizen  – Brewed & Bottled in Duncan, BC by Red Arrow Brewing (1:15)Vancouver Island Moustache Meetup (1:30)HousekeepingNeil from Balancing Fire corrects our dividend calculations on BNS, see dividend investing show notes for correction (7:20) Brewing Fire has an article about CoastFIRE that relates to last weeks episode [9:10)Interesting ArticleWork remotely? Tulsa, Oklahoma wants you (and your laptop) to move (10:25)Alternative In
Show notes for episode #10 In this episode, the Mechanic, the Accountant, and the Economist discuss BaristaFIRE. We’ll sample a few new beers as usual too. If you found this podcast you’re probably familiar with the FI/RE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional. Beer #1 – Windstorm West Coast Pale Ale – Brewed & Bottled in Vancouver, B.C. by Stanley Park Brewing [0:47]Interesting Article [2:40]The Joy of AbsenceWorking Fewer Hours Makes You More Productive [5:55]BaristaFIRE [6:42]Working for benefits and insurance [7:00] Dress rehearsal for FIRE [8:20]Got to have F.U. money [11:30]What is Barista FIRE/Barista FIRE vs Subsistence Working [12:50]Barista FIRE choices (1) Keep your current job (2) move to a labour of love [14:00]3 things we want in our jobs are: Mastery, Autonomy, and Purpose [14:15]Lifestyle decision [15:20]Definition of Barista FIR
Show notes for episode #9In this episode, the Mechanic, the Accountant, and the Economist discuss how to take a bite out of your monthly food costs. We’ll sample a few new beers as usual too. If you found this podcast you’re probably familiar with the FI/RE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional. Beer #1 – Magic Hour Grapefruit Gose – Brewed & Bottled in Victoria, BC by Vancouver Island Brewing [0:47]Interesting Article [3:11]A lot of Canadians seem to have stopped investing to pay down their debts by Rob Carrick of the Globe and MailHow to Save on Food Costs [6:40]Meal prepping and having quick to prepare homemade food available [7:39 & 23:47]Some go-tos: Chili, Chickpea Curry, Pasta or rice dishes, Thai Red CurryLeftovers and freezeringBuying in bulk [11:18]CostcoKnowing what you are buying costs [12:40]S
Show notes for episode #8In this episode, the Mechanic, the Accountant, and the Economist discuss dividend investing. We’ll sample a few new beers as usual too. If you found this podcast you’re probably familiar with the FI/RE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional. Beer #1 – A Tout le Monde – Brewed & Bottled in Chambly, QC by Unibroue [1:15 & 9:08]Interesting Article [3:30]How Work Optional Can Fit into Your Retirement Plan [4:28 – see reading list]FI Garage apologies to People of Quebec [4:10]“A good, well-planned retirement is designed to ensure that the vast majority of our time and energy is focused on achieving outcomes that are most important to us—and not having to do the bidding of others.” [5:50]Super frugality versus value spending [6:30]The FI Garage’s new definitions of FIRE
Today on the FI Garage The Mechanic and The Accountant have a beer and get to speak with Phia, author of Freedom101 Blog. We have a few beers and discuss how Phia and her husband Mike reached FIRE and why she prefers to call it Financial Freedom rather than Financial Independence. What we are Drinking (1:45)The Muse & The Golden Promise – Cannery Brewing Merlot Cab Franc Farmhouse – Origin Wines The InterviewFinancial Freedom rather than Financial Independence (5:30)Living the life you want now (9:45)Focusing on what’s next (11:07)Quitting won’t solve all your problems, consider experimenting with not working before you quit for good (12:00)Saving extra money each year even once in FI and over saving for FI (14:15)Other forms of passive income (17:10)The paradox of FIRE (22:20)Driving a Tesla (26:50)The anti-routine, lawn bowling and getting rejected for seniors bridge club (31:00)Favorite Office Episode (32:30)The most overrated part of F
Today on the FI Garage The Economist and The Accountant have a beer with Shane Dillon, author of The Franklin FI. He managed to get himself up at 3:00 am from Malaga, Spain so he could have a beer with us and tell us about his new book. What we’re DrinkingShane – Alhambra Reserva 1925 [1:10]The Accountant & The Economist – Axe & Barrel’s Langford Lager [2:27] Interview QuestionsYou had art exhibited in the louvre? [3:06]Was Photography Leisure or Side Project? [4:20]Where do you currently live?  [4:54]Malaga, SpainBirthplace of Pablo Picasso and Antonio BanderasWhat is your cost of living like? [5:50]One month of rent in Malaga= 10 months of rent in San FranciscoWhat was your inspiration for FIRE? [6:40]Treating life like a Human CorporationTracking Profit and Loss, Savings rate, etc.You took some time off for travel? [8:10 and 10:08]Wasn’t happy at workBackpacked across South AmericaWh
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Comments (2)

Brad Mielke

Good podcast guys it is nice to have some Canadians talking about FI. Can you do an episode on tax avoidance strategies for income as well as rental properties. There is not a lot of canadian content that focuses on this issue and it is one of my biggest expenses. Thanks and keep the shows coming.

Jun 23rd
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FrugalDispatcher

Hello gentlemen, just wanted to let you you have a fan and dedicated listener in Eastern Ontario! I really enjoyed this episode. One thing worth mentioning in regards to actual Dripping (owning the shares in your name) is often you're buying shares at a discounted rate. Also, there can be a big upfront cost to have the share certificate transferred to you, but you can also "simply" have someone who already owns it transfer it to you. 3rd big benefit you guys already mentioned is the fractional shares your dividends are buying you, which gets you the full compounding effect.

Jun 6th
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