Interview Recap: Financial Independence with Kornel Szrejber of Build Wealth Canada
Recently, Kornel Szrejber, host of Build Wealth Canada and one of Canada’s youngest retirees, joined Steve Jagger, co-founder of addy, to discuss his inspiring journey to financial independence, his unique investing approach, and the story behind his popular podcast. Here are some key highlights from their conversation—and if you’re ready to dive deeper, don’t miss the full interview!
Starting with Stability: Kornel’s Journey to Mortgage Freedom
Kornel’s path to financial freedom began with a focus on paying off his mortgage, a strategy inspired by the 2008 financial crisis. By living on one income and aggressively paying down his mortgage, Kornel and his wife were mortgage-free by age 29. This early financial milestone allowed them to take more control over their financial future and ultimately set the stage for Kornel’s journey into financial independence.
Building Wealth through Index Investing
After paying off his mortgage, Kornel turned his attention to building retirement savings through a passive investing strategy: total market index funds. He found that this diversified approach suited his long-term goals without the time demands of active real estate investing. Kornel’s focus on low-cost, broad-market ETFs helped him reach financial independence early and with reduced risk.
The Launch of Build Wealth Canada
As Kornel learned more about personal finance and investing, he saw a need for Canadian-specific financial content. He launched the Build Wealth Canada podcast to offer Canadians practical, unbiased financial advice, drawing from the expertise of top financial professionals. The podcast, now with over 2 million downloads, provides valuable insights on topics from retirement planning to tax optimization, and has become a go-to resource for Canadians on the path to financial independence.
What is the FIRE Movement? Kornel’s Perspective on Financial Independence
Kornel explains FIRE—Financial Independence, Retire Early—as a movement that encourages high savings rates, low-cost investing, and strategic planning to achieve early retirement. Kornel breaks down the two main approaches within the movement: Lean FIRE, which prioritizes financial independence with a frugal lifestyle, and Fat FIRE, which allows for a more flexible lifestyle and discretionary spending. Kornel’s story demonstrates that FIRE is not just about retiring early but also about gaining the freedom to pursue passions and live life on one’s own terms.
Landlording to ETFs: Why Kornel Chose Passive Index Investing
Though initially interested in real estate, Kornel eventually decided that the time demands and potential risks weren’t for him. He turned instead to index investing as a simpler, hands-off approach, allowing him to build wealth without the day-to-day involvement that real estate often requires. For Kornel, index investing offered a way to achieve financial independence while enjoying more time with family.
Exploring the Benefits of Financial Independence
With his family’s financial independence secured, Kornel now dedicates his time to optimizing his investments, interviewing experts on the podcast, and educating Canadians about personal finance. His story is an example of the flexibility and opportunities that financial independence can offer—empowering individuals to make choices based on passion rather than necessity.
Watch the Full Interview for More Insights!
Watch the full interview below to dig into the details. You can also listen to the latest episode on Spotify, iTunes, and Google Play.
For more insights and tips, check out the Build Wealth Canada podcast and visit their website https://www.buildwealthcanada.ca/.
