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5 Years to Freedom: A Canadian Guide to Early Retirement
What if you didn’t have to work for 35 years in order to retire? This Canadian-based guide will help you retire way earlier than you think possible. Réjean Venne and his wife left the corporate world to retire at the ages of 29 and 28. In this book, they share the strategies that helped them reduce their family expenses to under $30,000 per year and quit their jobs to become full-time parents. Their common sense approach helped them generate enough passive income to no longer rely on traditional careers, and made them millionaires by the age of 30. This unique account of a Canadian family’s journey to early retirement will explore:
-Why you should retire, especially if you have children;
-How retirement doesn’t have to be thirty or forty years away;
-How you can rapidly grow your net worth in the hundreds of thousands of dollars to achieve financial independence early;
-How to generate and manage passive income;
-How you can live a very happy and fulfilling life with plenty of travelling for less than $30,000 per year.
-Why you should retire, especially if you have children;
-How retirement doesn’t have to be thirty or forty years away;
-How you can rapidly grow your net worth in the hundreds of thousands of dollars to achieve financial independence early;
-How to generate and manage passive income;
-How you can live a very happy and fulfilling life with plenty of travelling for less than $30,000 per year.
- GenresFinanceNonfiction
220 pages, Paperback
Published January 13, 2021
64 people are currently reading
51 people want to read
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Displaying 1 - 12 of 12 reviews
June 2, 2021
I think this book only really has value if you are in your late teens or early twenties and ready to hear it's message.
Anybody who has been managing their finances for any length of time pretty much knows everything here and most people won't have the advantages of Venne in reducing cost of living.
I also think Venne, like many younger FIRE proponents are overly optimistic on their withdrawal rate because the earlier you retire, the longer the length of time you could run into a major financial crisis. Also if you run into even a minor crisis early, it could reduce your future expected earnings by a huge amount.
Finally, I'm uncomfortable with the idea of building up a large amount of assets, but keeping income as low as possible to take advantage of public money.
Anybody who has been managing their finances for any length of time pretty much knows everything here and most people won't have the advantages of Venne in reducing cost of living.
I also think Venne, like many younger FIRE proponents are overly optimistic on their withdrawal rate because the earlier you retire, the longer the length of time you could run into a major financial crisis. Also if you run into even a minor crisis early, it could reduce your future expected earnings by a huge amount.
Finally, I'm uncomfortable with the idea of building up a large amount of assets, but keeping income as low as possible to take advantage of public money.
January 2, 2024
I do enjoy that this book is geared towards Canada, but it seems like if you’re just starting out with a mountain of debt, working a couple part time gigs with not great pay, and trying to get through grad school, there’s no room to move, let alone save enough money for a down payment on investment property no matter the city in Canada. Especially not in the couple years since this book was published. This advice may have been more sound about 5 years ago, and if you have a good paying job, but the climate has changed too much and it seems to be impossible.
March 16, 2022
Wonderful book that I excited to share with friends and family. It goes into an outlook not covered in most financial books. It discusses the importantance of time and values. I highly recommend this book. The book is fluid and well written. I hope that anyone reading takes away many of the points the author makes.
November 15, 2021
Perfect book with real experiences
I’ve read dozens of these type books this year and all have been informative however until reading this, I didn’t notice the rest were all someone else’s experience and suggestions. This one is first hand and well worth the read.
I’ve read dozens of these type books this year and all have been informative however until reading this, I didn’t notice the rest were all someone else’s experience and suggestions. This one is first hand and well worth the read.
September 18, 2024
The authors don't have an early-retirement plan. They have a plan for how to stop working for the next 15 years, while raising your kids, when you're 30.
Reading the book just 3 years after it was published, the authors' math already isn't mathing. They estimate they will spend only $39k per DECADE to own a car (the cost of purchasing cars themselves AND all the maintenance). They estimate clothes—including winter coats, boots, and shoes—for FIVE PEOPLE will cost only $1,224/year ($102 a month). They estimate that "kid's toys, activities, supplies, etc." for THREE kids will cost only $82/month.
Healthcare costs are not included at all; the "health + fitness" category is only $1,296/year for FIVE PEOPLE and only lists things like classes, softball, and golf. The authors apparently don't plan to spend any money on dental work; neither for their 3 kids, nor for themselves, when they're 50, 60, or 70. They also throw out generic financial estimates meant for seniors, like "the 4% rule", treating it as a magic infinite money glitch.
And that's the core issue with the authors' plan. It combines the positives of retiring at 65 and the positives of retiring at 30, and ignores the negatives of both. And so their financial plan is that of a 65-year old, who needs the money to last for only for the next 15-20 years, not 60 years. And their planned expenses are that of a 30-year old parent of little kids: just have netflix and $82/month for toys and you're golden.
The authors go into an absurd level of detail describing their granola bar shopping habits, yet completely absent from their plan is what and how they will do—well, ANYTHING—after their kids get a bit older. When little Johnny needs his first car or little Tiffany needs dancing lessons, they will all share that $82/month budget. Once the kids move out, the authors themselves will presumably get even deeper into their couponing, gardening, and canning—which they describe as their "hobbies".
The authors still have a full-time job of an amateur farmer, a landlord, and a handyman—they just call it "retirement". They keep yammering on how they "did not have to sacrifice anything" while in the same breath explaining how they downgraded to a SINGLE 4-year-old used phone with no data plan that they share between the two of them. The book has detailed information on how much money the authors save by GROWING GARLIC instead of buying it.
That's the kernel of the book. The authors call it "retirement", but what they present is a lifestyle most people would associate with someone who's budgeting to pay off massive credit card debt. If you pick up a debt management book, you'd get the same advice: plan your meals based on what's on sale, go to multiple grocery stores to shop coupon items, do your own car maintenance, meal-prep and freeze stuff. Oh, and yes, work your garden and put what you grow in a can, to survive the winter.
I think they are pretty happy with themselves right now, while busy raising kids. But over the span of 10, 20, 40 years, people change. Their interests change, their kids move out. And the authors have already locked in their lifestyle of couponing and canning until the grave.
I'm not claiming their "5 years to freedom", early-retired life is impossible for an average Canadian to achieve. I'm saying most people wouldn't want to.
Lastly, I join other reviewers in highlighting the negative moral implications on two points in the book. The authors' glee at their "retirement" opening up the door to thousands of dollars in CCB child benefit government program meant for low-income families and their breathless recounting of how they jacked the rents so they could live off fewer rental properties.
Get a job!
Reading the book just 3 years after it was published, the authors' math already isn't mathing. They estimate they will spend only $39k per DECADE to own a car (the cost of purchasing cars themselves AND all the maintenance). They estimate clothes—including winter coats, boots, and shoes—for FIVE PEOPLE will cost only $1,224/year ($102 a month). They estimate that "kid's toys, activities, supplies, etc." for THREE kids will cost only $82/month.
Healthcare costs are not included at all; the "health + fitness" category is only $1,296/year for FIVE PEOPLE and only lists things like classes, softball, and golf. The authors apparently don't plan to spend any money on dental work; neither for their 3 kids, nor for themselves, when they're 50, 60, or 70. They also throw out generic financial estimates meant for seniors, like "the 4% rule", treating it as a magic infinite money glitch.
And that's the core issue with the authors' plan. It combines the positives of retiring at 65 and the positives of retiring at 30, and ignores the negatives of both. And so their financial plan is that of a 65-year old, who needs the money to last for only for the next 15-20 years, not 60 years. And their planned expenses are that of a 30-year old parent of little kids: just have netflix and $82/month for toys and you're golden.
The authors go into an absurd level of detail describing their granola bar shopping habits, yet completely absent from their plan is what and how they will do—well, ANYTHING—after their kids get a bit older. When little Johnny needs his first car or little Tiffany needs dancing lessons, they will all share that $82/month budget. Once the kids move out, the authors themselves will presumably get even deeper into their couponing, gardening, and canning—which they describe as their "hobbies".
The authors still have a full-time job of an amateur farmer, a landlord, and a handyman—they just call it "retirement". They keep yammering on how they "did not have to sacrifice anything" while in the same breath explaining how they downgraded to a SINGLE 4-year-old used phone with no data plan that they share between the two of them. The book has detailed information on how much money the authors save by GROWING GARLIC instead of buying it.
That's the kernel of the book. The authors call it "retirement", but what they present is a lifestyle most people would associate with someone who's budgeting to pay off massive credit card debt. If you pick up a debt management book, you'd get the same advice: plan your meals based on what's on sale, go to multiple grocery stores to shop coupon items, do your own car maintenance, meal-prep and freeze stuff. Oh, and yes, work your garden and put what you grow in a can, to survive the winter.
I think they are pretty happy with themselves right now, while busy raising kids. But over the span of 10, 20, 40 years, people change. Their interests change, their kids move out. And the authors have already locked in their lifestyle of couponing and canning until the grave.
I'm not claiming their "5 years to freedom", early-retired life is impossible for an average Canadian to achieve. I'm saying most people wouldn't want to.
Lastly, I join other reviewers in highlighting the negative moral implications on two points in the book. The authors' glee at their "retirement" opening up the door to thousands of dollars in CCB child benefit government program meant for low-income families and their breathless recounting of how they jacked the rents so they could live off fewer rental properties.
Get a job!
June 11, 2025
This book was recommended to me by a friend. It had some good tips and ideas but to me did not feel realistic. The author says there is “nothing special about them” to help them get where there are financially but I disagree, they were two people with government jobs and no student loans to repay. Where they bought property is lucky and based on location and time, not comparable to today’s economy. It also made me uncomfortable the way the author spoke about showing a low income to qualify for more government benefits which I noticed another reader spoke about as well.
January 12, 2026
Practical and Timely
Retirement planning is the topic of discussion quite frequently in our house. This book helped me feel more confident in our own decision making, and offered specific examples and insights that clarified financial processes. This understandable guide is written by an author with personal experience and education. Réjean Venne is living all he has shared! It is an excellent book !
Retirement planning is the topic of discussion quite frequently in our house. This book helped me feel more confident in our own decision making, and offered specific examples and insights that clarified financial processes. This understandable guide is written by an author with personal experience and education. Réjean Venne is living all he has shared! It is an excellent book !
March 26, 2023
great ideas to love through your values
I liked that this was written by Canadians and relevant to me. I also liked that it was mostly practical and not requiring any special skills or education to achieve.
I liked that this was written by Canadians and relevant to me. I also liked that it was mostly practical and not requiring any special skills or education to achieve.
January 19, 2021
Great read for anyone who doesn't want to spend 1/4 of their life working. Or simply for anyone who wishes to grow their savings and become financially independent. 5 stars.
July 30, 2022
Easy read. Not super dry, has great tips. Love that it is Canadian.
December 30, 2024
a different perspective
A story that gave me ideas about how I could change my life. Making small changes can help me achieve a financially free life in 3 years.
A story that gave me ideas about how I could change my life. Making small changes can help me achieve a financially free life in 3 years.
January 17, 2025
My rating 5/5
One of the simplest, most actionable, and best personal finance books I’ve read. At first, I was hesitant since I didn’t recognize the author, but after discovering he’s from Ottawa—where I currently live—I decided to give it a shot. And I’m so glad I did! The strategies discussed are excellent, focusing on practical day-to-day habits that are easy to overlook. The author does a great job of showing how these small changes can have a big impact. I initially read this on Kindle Unlimited, but I’ll definitely be purchasing the e-book the next time it’s on sale. This is a guide I’ll return to frequently, as the author's motivations align with mine.
If you’re a Canadian looking for practical advice on how to achieve early retirement by mastering the basics, this is the book for you.
One of the simplest, most actionable, and best personal finance books I’ve read. At first, I was hesitant since I didn’t recognize the author, but after discovering he’s from Ottawa—where I currently live—I decided to give it a shot. And I’m so glad I did! The strategies discussed are excellent, focusing on practical day-to-day habits that are easy to overlook. The author does a great job of showing how these small changes can have a big impact. I initially read this on Kindle Unlimited, but I’ll definitely be purchasing the e-book the next time it’s on sale. This is a guide I’ll return to frequently, as the author's motivations align with mine.
If you’re a Canadian looking for practical advice on how to achieve early retirement by mastering the basics, this is the book for you.
Displaying 1 - 12 of 12 reviews