Young People and Retirees Choose to Invest… in Their Freedom, Starting September 5, 2024 on UnisTV
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Quickly achieving financial independence to slow down and enjoy life: this is the focus of the new documentary series by United TV, Young People and Retirees. The show chronicles the journeys of frugalists who have either taken early retirement or are striving to do so. The series consists of three 48-minute episodes, produced by Locomotive Media, directed by Gwenael Lewis, and written by Lucas Pilleri. It will air on Thursdays at 7 p.m., beginning September 5, and will be available on TV5Unis.
“Frugalism refers to people who save a significant portion of their net income, invest it in the stock market, and have the patience to wait for that amount to grow until they have enough to live on,” says Jean-Sebastien Pilotte, who retired at 39 and is the author of the blog Jeuneretraite.ca. “While not everyone can achieve early retirement at 35-40, anyone can regain control of their finances, pay off debt, build an emergency fund, and avoid living paycheck to paycheck,” he adds. Vincent Morin, who retired at 35 and authors the blog Retirement 101, echoes this sentiment.
Experts and Learners
The series explores and dissects the concept of frugality, also known as FIRE (Financial Independence, Retire Early), a movement that originated in the United States and promotes financial independence. Some protagonists, such as Jean-Sébastien Pilotte and Vincent Morin from Quebec, have already retired and share their experiences. Others, including Corey Loranger from Alberta and the couple Léonie Galarneau and Rex Woodley from British Columbia, are in the process of learning and assessing their pathways to achieve financial independence, guided by those who have already succeeded. The series demonstrates that achieving such independence is also possible for families with young children.
The Basics of Financial Independence
The initial step is to cut and control spending to reinvest savings. The series’ protagonists accomplish this through various means: living in modest homes, owning a single family vehicle (often used), biking for transportation, opting for second-hand goods, and making economical grocery choices. “Just because you earn more doesn’t mean you have to spend more. It’s a mental game. Yes, I earn more, but this is where I want my money to go,” explains Léonie Galarneau. Nicolas Berube, a journalist at La Presse and author of works on millionaires, points out that a luxury car signifies lost wealth that won’t appreciate over time. He emphasizes that the financial flexibility obtained by frugalists allows them to purchase freedom. It’s important to reduce expenditures without compromising on everything to maintain a decent quality of life. Mel Dorion, a financial education trainer and author of the Modest Millionaires blog, recommends tracking spending to comprehend its long-term effects.
To achieve financial independence, profits must be invested to generate long-term income. Some individuals prefer stock market investments, while others turn to real estate. There are tools available to help visualize the necessary annual savings and the amount needed in investments to reach independence. Some statistics from the series
- The typical Canadian household is 186% in debt. Excluding mortgage debt, individuals carry an average of $21,000 in debt.
- The average Canadian saves only 6% of their income.
- A typical Canadian family spends $12,000 annually per vehicle, and most own two cars.
- A person earning an annual salary of $40,000 is in the top 5% of earners globally.
Broadcasting
The documentary series Young People and Retirees will premiere on Thursday, September 5 at 7 p.m. on the channel United TV, which is included in the basic TV package across Canada. The series will also be available on TV5Unis (on the web and through mobile and TV applications). The channel United TV serves as a bridge among the various French-speaking communities in Canada and highlights the richness and diversity of the Canadian Francophonie.
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Young People and Retirees Choose to Invest in One’s Freedom from September 5, 2024 on UnisTV
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Achieving financial independence quickly to slow down the pace and enjoy life: this is the core message of the new documentary series Young People and Retirees from United TV. The series captures the journeys of frugalists aiming for early retirement or those actively pursuing it. Each of its three 48-minute episodes, produced by Locomotive Media and directed by Gwenael Lewis, will air on Thursdays at 7 p.m., starting September 5, and will also be available on TV5Unis.
“Frugalism is about saving a significant portion of your net income, investing it wisely, and having the patience to watch it grow until you reach financial freedom,” explains Jean-Sebastien Pilotte, who retired at 39 and runs the blog Jeuneretraite.ca. “Not everyone can retire at 35 or 40, but everyone can take control of their finances, eliminate debt, build an emergency fund, and ensure they’re not constantly living paycheck to paycheck,” he adds, supported by fellow retiree Vincent Morin, who founded the blog Retirement 101.
Exploring Frugality and Financial Freedom
The series deeply investigates the principle of frugality, or FIRE (Financial Independence, Retire Early), a movement that encourages individuals to attain financial independence at a much younger age. Featured participants like Quebec’s Jean-Sébastien Pilotte and Vincent Morin have successfully retired early, sharing their experiences while others, including Corey Loranger from Alberta and the couple Léonie Galarneau and Rex Woodley from British Columbia, are still in the learning phase, exploring their paths to financial independence. They also receive invaluable advice from those who have successfully achieved this goal.
The ABCs of Financial Independence
To embark on the journey toward financial independence, it’s essential to:
- Reduce and control spending to maximize savings.
- Reinvest the savings wisely to cultivate long-term income.
Different methods to accomplish this are showcased by the participants, highlighting strategies such as:
- Living in smaller homes.
- Using one car or opting for bicycles for transportation.
- Choosing second-hand items to reduce costs.
- Making economical grocery shopping choices.
“It’s not about how much you make but how you manage your money. It becomes a mental game; just because you earn more doesn’t mean you have to spend more,” notes Léonie Galarneau.
Understanding Spending and Saving Psychology
Nicolas Berube, a journalist at La Presse and author specializing in wealth-building literature, emphasizes that purchasing luxury items often equates to lost wealth that does not appreciate over time. According to Berube, the monetary freedom achieved through frugality allows individuals to invest in their true desires—freedom and lifestyle choices.
Maintaining a satisfactory quality of life while reducing expenses is crucial. Mel Dorion, a financial education trainer, suggests tracking spending to assess its cumulative long-term effects, making it easier to recognize areas for improvement.
Investment Strategies for Financial Independence
After cutting back on expenses, the next significant step is to invest those savings. Some participants choose the stock market as their investment platform, while others delve into real estate investments. Numerous budgeting and investment tools exist to visualize savings goals and discern a feasible number to achieve financial independence.
Statistics to Consider
| Statistics | Implication |
|---|---|
| The average Canadian household is 186% in debt. | Indicates a significant reliance on borrowed funds. |
| Canadians, on average, save only 6% of their income. | Highlights the need for improved savings habits. |
| Canadians spend about $12,000 annually per vehicle. | Suggests high transportation costs among families. |
| A salary of $40,000 places you in the global top 5% of earners. | Encourages individuals to consider their global financial standing. |
Showcasing Real Life Experiences
The documentary also features heartfelt testimonials from participants who have transformed their lives through these principles. Their stories illustrate the tangible benefits of a frugal lifestyle, underscoring the emotional and financial freedom available to those willing to pursue change.
Broadcast Information
The documentary series Young People and Retirees will premiere on Thursday, September 5 at 7 p.m. on United TV, available in basic TV packages across Canada. Viewers can also access it via TV5Unis on the web and through mobile and TV apps.
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