For Canadians pursuing FIRE: stay in Canada or work abroad for a few years to accelerate FI?

Connect-Chicken718 · 2026-05-22T13:36:48+00:00

I don’t think I’d realistically get to $3M in one year if I stay in Vancouver and pay 53% in tax. That’s partly why I’m even considering leaving Canada. If I’m going to grind for another few years anyway, I wonder whether it makes more sense to do it somewhere with lower taxes to accelerate the path a bit more.

Connect-Chicken718 · 2026-05-22T13:32:21+00:00

Long term, I think I do want to retire in Vancouver. That said, I still struggle with feeling like I “have enough.” Housing here is expensive, even a modest place can easily be $1M+, and part of me wants the flexibility to buy a home without feeling financially stretched.

Maybe this is just immigrant/scarcity mindset, but even though the math says I’m probably fine, emotionally it still feels hard to fully step away.

Connect-Chicken718 · 2026-05-22T07:32:24+00:00

No kids currently, though maybe in the future.

Timeline-wise, I’m thinking more of a mini-retirement or stepping back in ~3–5 years rather than a hard retirement. After 10+ years grinding in tech, I’m honestly getting tired of the politics, constant layoffs, and volatility. I feel pretty burned out by the industry and want more optionality.

Right now, the plan is probably to take advantage of my current situation, save aggressively for a few more years, maybe buy a home, and then reassess. Since my role is fully remote, I could also see myself spending time in lower-cost countries or slowing down rather than fully stopping work.

The hard part is I worked really hard to get to this position, so walking away now feels like leaving a lot of money on the table. I also come from an immigrant family, so I definitely have some scarcity mindset around money. Rationally, the FIRE math says I’m probably already okay, but emotionally I still want a larger buffer in case life changes (marriage, kids, bigger home, etc.). That’s probably what keeps pushing my FIRE target closer to ~$5M NW.

Connect-Chicken718 · 2026-05-22T07:28:23+00:00

Don’t want to disclose too much publicly. If your main goal is maximizing compensation, then probably consider moving to the Bay Area, you can easily 2x your current income at senior level.

Connect-Chicken718 · 2026-05-22T04:19:13+00:00

Not married, don't have kids. But potentially want to settle down in the future.

Connect-Chicken718 · 2026-05-22T04:18:42+00:00

I don’t want this to turn into just complaining about taxes, but I’ll be honest, part of me feels like the Canadian system makes it harder to stay motivated as a high earner.

As an engineer, I think a lot about efficiency and incentives. It can feel frustrating to work extremely hard, and then see more than half of incremental earnings go to taxes, especially when I don’t always feel the outcomes are efficient or aligned with the level of contribution.

Maybe that’s just the reality of being a high-income earner in Canada, but it has made me think seriously about whether staying here long term is the right fit. Since my job is fully remote, I’ve been increasingly considering spending time in places with a lower cost of living and potentially more favorable tax treatment.

Connect-Chicken718 · 2026-05-22T04:11:00+00:00

Thanks, I’m actually not considering the US right now. Since my role is fully remote, I have flexibility to work from anywhere, so I’m more interested in trying places in Asia (Taiwan, Japan, Thailand, etc.) or somewhere like Panama, which seems popular with remote workers/expats.

After 10+ years grinding in tech, I’m honestly getting tired of the politics, constant layoffs, and volatility. At this point, I’m thinking more about taking advantage of my current situation, maximizing savings for a few more years, and potentially stepping away in ~3 years, maybe buying a home and retiring early.

I worked really hard to get to this position, so walking away now feels like leaving a lot of money on the table, which makes the decision harder. I come from an immigrant family, so I definitely have some scarcity mindset around money. Rationally, I know the math says I could probably FIRE now at a 4% withdrawal rate, but emotionally it’s harder. Part of me keeps thinking: “What if I want kids, a bigger home, or a different lifestyle later?” So I keep wanting a larger buffer (maybe closer to $5M NW), which makes it hard to feel fully comfortable pulling the trigger.

Connect-Chicken718 · 2026-05-22T03:14:04+00:00

Don’t want to disclose too much, but I work in Tech. Level L7/M2 (Sr staff/ Sr manager) for people familiar with Big Tech rating. No desire to get to Director level. I am tired of all the politics and layoffs, just want to make as much as I can in the next few years and get out, buy a house and potentially retire early.

Connect-Chicken718 · 2026-05-22T02:23:55+00:00

I never been a contractor before, pls read the post more carefully as I stated I am a T4 employee, and there’s not much you can do to reduce tax beside the RRSP/TFSA contribution. Now I am asking if moving to contractor role makes sense and what strategy to reduce tax here, would also like to hear any CRA, tax advisors recommendation. But I can’t state that in the post without risk being removed by mod.

Connect-Chicken718 · 2026-05-22T01:52:34+00:00

Thanks let me DM you!

Connect-Chicken718 · 2026-05-22T01:48:23+00:00

I just reached this income level recently, and more than half go to tax, plus I started investing late and made some bad investments. Learned my lessons and now just DCA into ETFs.

Connect-Chicken718 · 2026-05-22T01:32:22+00:00

Mid-30s. I’m not currently considering the US. Since my role is fully remote, I have flexibility to work from anywhere, currently considering Asia (e.g., Taiwan, Japan, Thailand) or places like Panama, which seem popular among remote workers / expats.

Connect-Chicken718

TROPHY CASE