Retiring at 35 – Crazy Idea?




All right, I must warn you; this is a little bit of a weird post. I’ve been thinking about this scenario for about two months now. Maybe it’s the sun beating on my head too hard, or maybe it’s just a funny thought that will evaporate into thin air in a few weeks. Or… maybe I’m really tired about this whole crazy lifestyle where you have to run from 5am in the morning till 10pm and hope to have a good weekend to recharge for the next week. Anyhow, I wanted to have your feedback on this crazy plan.


Where I’m at right now

But before I share my plan with you, I need to tell you where I am at in my life. I’m turning 33 this fall, married and have three kids (2, 7 and 9). I work for a big financial firm, making slightly over 100K per year with a fully funded pension plan. Technically, I have nothing to worry about as my financial future is well assured.


My investments look like the following:

$8,000 in a RESP (kids’ savings)

$2,000 in a TFSA (Tax Free Savings Account)

$52,000 in a RRSP (my RRSP + my wife’s)

Total of $62,000


If I sell everything I have (mostly my house! Lol!) and pay all my debts, I will have around $100,000 in cash. I’m not counting my pension plan in the equation as I wouldn’t be able to withdraw from this account.


Yes… this is what I’m thinking; selling everything I have and change my life forever… After all, I’ve told all my friends I would retire at the age of 35… it’s about time to think of a plan! Lol!


Selling Everything and Go Live in an RV


By selling my house, I would have enough to buy a used RV big enough to meet my family’s needs. I don’t need much comfort or luxury as my dream would be to go across Canada, then the States and finally go down South and settle in Costa Rica.


Living frugally, I could probably only use my website income to pay for my few bills. The best part is that I could work 3-4 hours a day on my website and increase this income month after month to eventually make a substantial income from my site and still have very small expenses.


I’m not too excited about living in an RV to be honest, but I’m really into hiking and travelling. This year, I went to Hawaii for 10 days and all we did was drive across the island, hike and look at paradise in front of us.


The Plan


It’s far from being a well-designed plan so far as I’m just thinking of it while writing this post! I’m thinking of doing this in maybe 2 years. This would give me enough time to save more income and put it aside for my project.


I would use a 50K investment account to sustain this new lifestyle in addition to my website income. With 50K, I could generate additional dividend income (maybe $100-$150 per month) without touching my capital. I hope to avoid touching my RRSP account as any withdrawal would be taxable. Starting next year, I might consider investing 5K/year in my TFSA instead of my traditional RRSP contribution. This would help me to fund the 50K I will need.


If I could setup my RV with 50K, there will be another 50K to invest. This would be the best case scenario; I would have 100K invested in dividend stocks on top of my retirement account. The more I write about this project, the more I get excited.


I know my kids can do school at home with my wife and I. They would benefit from an amazing experience to learn history and geography on the ground; they will speak 3 languages (we already speak French) and they will learn to adapt to anything in life.


What do you think of this first draft?


Do you think I’m crazy or do you think it’s something that is feasible? I’m really looking forward your thoughts on this!


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