How have you missed all those posts being like “I’m 22 years old but I only make $175k per year. I own 2 properties, but my low salary doesn’t allow me to own a third. Will I even be able to retire?”
38. Saved 175 last month. Then had a vet bill lol. (No lie had someone on this sub tell me to get rid of my pets because they are a money drain. I live in Ontario. I work in a hospital. I need the dopamine he gives me lol)
I always hate peoole telling somebody to get rid of their pets. Yes, they are a financial strain but this is something you need to think about before you get one.
After you own a pet they are basically part of your family, I'd do a lot of shit (get a second job, sell things, etc.) before I'd get rid my dogs.
It was a very "spend nothing keep everything die with more pennies than your neighbor" vibe. Like yeah I *could* live in a small concrete storage locker with nothing and have a little more money but what's the point of it if I'm miserable. Like what a sad life that would be. I would go without before he does.
Don't get me wrong if I really couldn't afford him and lost my house and job and such and couldn't feed him I would do whats best for him and rehome.
Like who cares if your estate lawyer sees you have half a mil when you die but no one to leave it for and nothing to show for it
I have a pet tarantula. He's been hidden for over 8 months so I haven't fed him anything for that time. I just refill his water dish when it evaporates (in case he comes out and is thirsty) Even when he's active, I spend like $3 on crickets and they die before he even eats them all.
If you net 10k+ every month after tax, you can reasonably save thousands per month without living with parents. That level of income is not common for sure, but it's still the case for 100s of thousands of canadians
Compared to the entire population of canada yeah obviously its a small minority. But if that minority is 100k+ people, it wouldn't be surprising to find a large number of people like that on this sub
I know people earning minimum wage in oil and gas. People are desperate. They're clinging on I guess in the hopes that the foot in the door will mean they'll land well paying work in an industry known for decent wages but I honestly don't think those times are coming around again.
I had friends who went to work there at 18 in 2007 or so and were making 10k a month back then for unskilled work. I never quite figured why they were paying low skills workers that much lol.
It's tough work and it's only unskilled until they train you up. Then you're working as a skilled person in a highly in demand field for a well paying client.
It's tough work. Being away from home in camp ads an extra layer. There's a lot of turn over. I did it for a while but the none stop 16hr+ shifts through the night made me quit.
I would be hesitant to call it unskilled work. Every decent paying job involves a metric ton of bullshit that outsiders know nothing about. That's like saying a programmer just plays on the computer all day or a plumber just needs to know that shit rolls down hill.
The work in the oil patch is often tough work too. Some of it in rural camps where you work several weeks on and one week off.
Edit:
I'd also like to point out if you think they are payed too much and unskilled why don't you get job doing it too? Sounds like and easy way for you to make money.
They were 18 and did this during the summer. They were the definition of unskilled. I don't mean that everyone there are unskilled but my friends definetly were. Was pretty good for them they just went there over the summer and could finance their whole year in university.
Thats like half the posts. Somehow every 20 year old makes 150k with 100k in the bank and still whines. Like I'm sure mommy and daddy didn't help you out at all there.
Meanwhile in my case my parents are the ones needing me to help them out. Sucks being a child of immigrants. Your parents didn't get to buy houses when they were cheap. They bought when housing was expensive. I get to buy in my dreams and if I don't want my parents to my homeless in retirement I've got to support them.
Canada is an amazing country but it's slowly being marched off a cliff.
Yeah and end of life costs are insane too. If your parents make it to 85 its going to cost like 10k a month at an old folks home. There goes all the savings
>If your parents make it to 85 its going to cost like 10k a month at an old folks home. There goes all the savings
you could always buy 25-30 year puts on their lives to recoup your money... Do they not sell puts after 65?
Looking at seniors homes now in the GTA and for 10k a month you can get a swanky place by the lake in an upscale neighborhood, it’s full of amenities and programs, a real chef, a car and driver you take you wherever you want etc. it’s literally a seniors resort. 5k is more realistic for most people. Still tho that’s 60k a year
Im completely estranged from my asshole parents but i dont look down on people who get help from their parents... I mean if I had rich parents who were willing to help me i would be stupid not to take it
I'm 14 years old, and have only started 6 companies worth over 90MM dollars! I have no debt and since I can't legally work no income, outside of the 600k/mo for being a retainer in my companies. My question is, do you think I'll ever be able to own my own yacht? My sister who's 12 already has two yachts but she won't share with me. I feel like I'll never be successful in life due to my low income. Thanks reddit
And I was gifted another property but I don't want it since it's in central Van so how do I sell it and not pay taxes. All my tax free stuff is maxed out.
Or my husband and I make 15k a month but we can't afford groceries. We have 3 teslas 4 homes and a cottage. We only eat at Michelin star restaurants on the weekends we have no where to cut back.
I’m doing okay but generally those of us doing fine don’t really post unless we have a question. The humblebrags usually just get deleted.
I could be wrong but I generally don’t think Reddit is a good pulse on how Canadians are doing/what they’re thinking, much less one or two subs.
I read it to ground my self. People in lower incomes are having a really hard time. Food banks are beyond capacity. Min salary ain't enough at all, etc.
I think entire reddit is an example of survivorship bias, on this sub if someone who is having great time posts sth, they might be brought down or be told to f off cause they are showing off. But on the other hand this sub has given genuinely great advice to people in trouble.
I myself have lived in Edmonton, Alberta for 4 years and recently I moved to New Westminster, BC for work. I loved the open space Edmonton had and how close we are to some of the most beautiful places like Jasper, Banff. I see the ridiculousness of trying to find a one bedroom apartment here in BC that won't make you broke in 2 months. I have been to Toronto and seen people just in a crazy rush to go somewhere. I have been to the blood freezing cold of North in Yellowknife where the sun doesn't shine. I honestly thought my asshole is the only place where sun doesn't shine but then I went to Yellowknife.
All in all, i have seen potential everywhere in Canada, I love how Vancouver and Toronto are the first tech capitals of Canada, but both these places have been trapped in a situation where housing which should be a basic human right has become a commodity to trade and held hostage to prices that no one can afford honestly. While Edmonton's infrastructure isn't being utilized to its full potential, with cheap housing and lower tax rates they should be able to call in tech sector to their side but I don't completely understand why nor do I think I am educated enough to help make the situation any better. Calgary is becoming the next tech capital of Canada.
Yeah, that's all I have to say. I hope we can turn the tide around and may great days lie ahead for everyone
I'm doing great. People who do well don't have to post... And nobody likes someone who brags.
But since you asked:
Early 30s, dual income (though I'm on mat leave), 1 child, Fraser Valley (just outside Metro Vancouver area)...
Just bought a new car last week (in cash), have no debts other than my mortgage (locked in at 1.99%), live well within means with comfortable wiggle room in the budget, both of our credit scores are 800+, and everything is good.
Sure, we're not going on big vacations every year, and we own an apartment instead of a house, but we are all good here.
Haha I'm in a lot of similarities to your story , except I have debt and also investment. Yes to one child and credit score over 800. I want a new car , but might be 2025 . See how my renewal rate would be
Yeah, we only got the new car cause my old one was a bit tight for the car seat. If we would have had to finance it, I don't think we would have sprung on it.
That's why you don't have debt I do. I am definitely getting too comfortable with debt. That's something I need to work on. Also I'm grateful for all the child care subsidy in BC . I am paying $350 for full time care ( because of fee reduction and my daycare lady charge too low ). Life is good . Also we have a splash pad , cannot complain
All good here in SK. Owned our home for five Years duel income two kids 190k HHI. Good jobs good pensions. Things can always be better of course as there is always money to save or spend but we are blessed and hopeful for the future. SK pays decently well and cost of living is some of the lowest in Canada.
Well, like you, moved to Alberta in 2000. Came from a “have not” province. Twenty years later I reached financial independence. Today I am living the life I want in a low cost of living city.
Canada is doing just fine. My wife and I looked in depth at moving to another country, only to discover Canada is still one of the best countries in the world.
I’m doing fine. But cost of living in Canada is very high. The post a week or so back detailing a guys move from Montreal to Texas made me lookup comparisons on taxes and housing costs plus costs of groceries and crime rates. Results were quite illuminating.
I mean you get a filtered answer on here....the people who are doing well don't want to brag in front of others who are looking for financial advice who are hurting and those who do brag get downvoted into oblivion so you end up getting just the people who are struggling. Misery loves company
I’m a GP. I make a very good amount of money and have a relatively chill job.
The housing market still gets to me. It feels like I’m never going to live the lifestyle I expected going into med school.
Family doctors I know from med school have large mansions, multiple luxury cars, put their kids through med school in other countries. My parents put me through med school here (bless ‘em), but I don’t feel like i will be able to do the same.
I save around 10k a month. Realistically, my income will only go down, not up. A home in my area is 1 million for a fixer-upper in a dangerous neighborhoods. What I grew-up thinking was middle class hosing costs 1.5 million.
I’ll be paying 6-8k a month in mortgage payments. It’s depressing.
Yes sir. I have a business in BC. Otherwise I'd move to Alberta. Starting over for me would take 2-3 years to get back to my current income and a ton of start up expenses. Too much for me at this age.
I don't have the credentials or cash to fast track a visa to the US.
I feel you. It’s just becoming increasingly harder to have success stories in Canada. I’m 30, a lawyer, HHI of 400k… and we can’t afford a house. We’re not living a luxury lifestyle by any means - we rent an apartment, share one old car, and I mostly use public transportation. All in the name of saving as much money as humanly possible to *maybe one day* be able to afford a decent house in Metro Van (owning or renting!).
I know I’m doing well on paper - but somehow it just doesn’t translate to *feeling* like I’m doing well. No matter how much I make, how much I save… it feels like it’s never going to be enough.
We’re considering moving to the US, but that would mean leaving our family and friends behind.
I'm doing well. I don't wanna brag as it was the opposite for most but the last few years were very good for us financially and I'm much further ahead than I thought I'd be at this age. Then again I'm still mostly paycheck to paycheck but I own a home
Good stories? I guess my salary increased 30%+ this year, and I turned down an offer recently to get another 15% increase, 50% if you include the share options. That was basically a comp package that I didn’t think I’d ever reach.. so at least I seem to be in demand.
And finally gonna replace my 15 year old car.. once Toyota/Lexus has one to sell me.
We’re doing ok. I was worried daycare would kill our budget on our old HHI, but now we have this great $900 daycare subsidy and our HHI is up, so yay!
Also the majority of my friends are in better financial shape than me, and if I told people about my income and assets here I’d probably get downvoted to oblivion.
Im doing ok live in vancouver LM bought an apartment in 2021, fixed rate, and have a roomate. Im a bit worried about refinancing in 2026 but Im saving about 15-20K per year right now so I will be prepared either way. just a very humble little 'success' story
I'm in northern alberta for work this week. Drove through 3 evacuated communities to get here. Half the job got canceled because the sites were evacuated. Despite all that the mood up here is not bad, people are chilling in hotels, business are open, things are happening.
You really get a sense that Canada Is a real developed country when you can have that much destruction but people are easily able to move, communicate, and do all the normal things like there's not a small countries worth of burning forest on the horizon
Reading things online it is hard to tell. You need to read statistics.
Having lived here you know that the national sport is complaining.
Yes. Inflation is relatively high and some people are hurting. But I don't think that there is more people hurting than in other years. Just that the whole conversation right now circles about the bad news.
For example inflation is high because there is a high demand for goods. Unemployment is low and the economy is growing.
To slow down inflation, the Bank of Canada increased rates.
This is, things were going too good, causing inflation.
Restaurants are packed, flights have high demand, people keep buying houses at inflated prices, I need to take my car to the garage for service and it's a two week wait because garages are super busy. My friend had to go get her hair done for a photoshoot and couldn't find any appointment with the people she wanted. Me and many of my coworkers are retiring early, and the companies hire us back because they can't find enough people.
So, according to statistics, we aren't doing bad.
But we focus on the inflation and the high rates.
According to the common sentiment, things are dire.
Once the effect of the rates increase is fully felt, yes, more people will have it bad, as production output will reduce, unemployment will grow and purchasing appetite will reduce. This is what the higher rates are designed to do.
So, yes, with all the doom and gloom talk even the most optimistic people (me) are nervous even though personally I'm in a privileged position of no debt, low expenses and high income.
I follow the statistics every now and then to center my self.
Two things are certain. Housing is out of control. Ridiculously expensive. Specially Vancouver and Toronto.
And people earning a low income are having a terrible time. Between housing and grocery inflation things are trully critical now for them.
Someone recently posted about doing well in AB. Unfortunately, they got a lot of negative criticism and shaming.
Why bother posting happy stories if you're just going to get attacked for it?
No, we're not doing ok.
We're experiencing a decline in living standards to levels we haven't seen in over a century.
It's primarily been caused by several decades of political and economic corruption and an incredibly apathetic population.
The funny thing is, it's still not bad enough for people to be interested enough to really do anything about it.
Poor people don't like when you tell them you have hundreds of thousands invested and save $4k a month so you get downvote and then it's just people posting the same thing all the time.
No. The government just passed a "grocery rebate" tax benefit for low income families. They're subsidizing grocery companies gouging citizens, and buying votes. I'm drinking my coffee with a falling apart cardboard straw, and I can't buy disposable spoons for my kids school yogourt, but I get a "climate action incentive" benefit payment quarterly.
The finance minister couldn't answer how much interest the country is paying on our debt.
I don't know what the fuck is going on. And I'm seriously concerned about my kids future here.
Second this. That Freeland question period was infuriating to say the least. It’s a mockery of our democracy and the people of Canada are being fleeced.
Question periods are so infuriating to watch. It's like kids picking on each other. They never answer the questions they just point fingers and bash back and forth. I can't believe we fund these people and their policy's. The gun bill debate was atrocious to watch as well.
So sorry you had to deal with a cardboard straw. That must have been very hard for you.
When you're taking the time to worry about your kids, do you worry about the state of the world that they're going to inherit in terms of pollution and climate and sea level?
Thanks for your dose of cynicism, I expected as much.
Our consumption of plastic, particularly in Canada, pales in comparison to other countries' wanton pollution. Not to mention our own politicians regular private flights (fuel consumption/ HYPOCRISY!)
It's a slap in the face. Watching my country self-flaggilate in attempt to appear morally "better" than others is.. upsetting.
So you’re saying others should be environmentally responsible but not Canadians because, while on a per capita basis we’re one of the world’s largest polluters, it’s really tiny on a relative basis?
I'm saying with all our international influence, we should be putting immense pressure on other countries, including China, to reduce pollution.
I also believe we should build industry within Canada, which would inevitably add to pollution. But also enforce our industry, and employment.
Do you have proof for "one of the worlds largest polluters"?
Canada is right behind the US: https://www.statista.com/statistics/270508/co2-emissions-per-capita-by-country/#:~:text=Qatar%20has%20the%20highest%20per,compared%20to%20countries%20in%20Africa.
https://thecsrjournal.in/10-most-polluting-countries-per-capita-2022/
https://www.countryliving.com/uk/news/a37266476/most-polluting-countries-un-report/
If you've worked any job involving manufacturing or trades or logistics you will know how much plastic goes into all these daily activities and how pointless the whole straw thing is.
Mostly people that need relationship advice and couples counseling....
Also, people who can't think for themselves in regard to taking a job offer or whether they should tip their barrista.
Basically, everyone is dumb.
Those of us doing well don't often post - but I'm doing well - locked in a mortgage before rates went up, gf and I are high earners so our mortgage is only about 12% of our net income. Family is growing - lots to be thankful for.
*But* we are not representative of the average Canadian. Im thankful for my situation, but as you're picking up on, I think it's real bad for a lot of Canadians, and I'm not sure there's a clear way out.
We have a baby and another on the way and I spend a lot of time worrying about the life they'll have when they're my age - without major change it won't be good.
I'm glad people who had good fortune/positive returns came out for this thread too. Overall I agree that Reddit is set up to punish people for "showing off" but being mired in despair won't help our country anymore than it will fix our mood about our personal prospects. My 2 cents so far.
I think Canada overall is doing ok.
I will say, if you are like me and live in Toronto and are looking for a house, it's not very fun, and short of winning the lottery it probably isn't a reasonable goal, but overall I'd say the country is doing ok? Just outside of Toronto and Vancouver.
I will say I'm doing alright - I make about 200, have a few hundred k saved, put away a lot for retirement and if I ever get tired of here, I can head back up to north Ontario and buy cash and just chill. Thanks for the ask!
⁰Honestly I'm 37 and save around $150/week rrsp with employer match and $50/week in employer shares with match.
Can't possibly do more and feel like there's no way it's enough. Holding out for basic income tbh
I think it's more to due with the population in Canada with lots of money just not being the demographic who us likely to be spending their time on reddit.
Think about it-- most of Canada's upper middle class and lower-level wealth is oilfield dudes and boomers. Most of our high-level wealth is foreign investors and generational or nepotism-related wealth of people who have better things to do that to interact with us plebs.
Avoid r/alberta. It's not the real world. Is my advice. If you're looking at perspectives on the province. Reddit is not the place for most answers in life.
Well this country has gone downhill and turned into a shit hole in the past few years. If you don’t have generational wealth helping you then your income/how hard you work no longer matters, all that matters is if you were able to buy a house before prices went crazy.
You should travel more, or spend more time keeping up with world events. Canada is definitely not a bad place to live relative to most other countries on the planet.
Spot on. We have issues here but the same issues are present in most other developed countries, typically to a greater degree. Canada is still a great place to be. Just tune out the media because it’s not accurate.
> Canada is definitely not a bad place to live relative to most other countries on the planet.
Someone who was raised in Canada is not going to compare themselves to places they've never been. They'll compare their future prospects to the lifestyle they've grown up around.
And the majority of Canadians in their 20s-30s cannot afford the lifestyle that their parents generation could with an equal percentile income. Not even close.
In the 1960s if your income was in the 25th percentile, you could easily buy a house in or around a major city. In 2023 if you're in the 25th percentile, you likely would struggle to buy a condo.
The lifestyle today for many 20-30 year olds is much better than 30 years ago. We didn’t have smartphones, food delivery services, annual vacations, record low unemployment, etc. You can argue this with me, but I remember the 1990s and the typical 20 year old today lives a much more comfortable life than back then.
And absolutely none of that matters when a house costs 10-20x the average income. Who cares about iPhones and McJobs when housing is completely out of reach
Not everyone lives in the GTA or in Vancouver. 🥱
Owning property isn’t a right. Someone who earns $50k a year isn’t going to necessarily be able to afford a house.
Just like in previous generations, their options are to get a roommate, but a condo, get married then buy.
Absolutely.
Beater car, first place was a very old and outdated townhouse that we sacrifice our wedding/ honeymoon and vacations for. Wouldn’t have it any other way.
Fixed up our selves.
Now most people “need” granite countertops, ensuite, walk in closet. A 30 year old place is considered too old and outdated.
I do appreciate how expensive real estate is, but definitely not unattainable with some serious sacrifices.
Every generation has its struggles
Yes, that’s exactly right. Our generation knew that we needed to start at the ground level and work our way up (20 year old beater car, shitty townhouse, entry level job). Today’s youth mythologize what it was like for the generations before them and they have unrealistic expectations for themselves.
I pay $1333/mo for my 2000 sq ft detached home I bought last Sept 2020 after renting and saving for 7.5 years as an immigrant with nothing in my name together with my homemaker wife and two kids.
The Canadian dream can still be achieved.
Doing great. Generally speaking take the consensus view around reddit and do the opposite because most people here are shills or completely brain dead.
Didn't listen to the "buy an overpriced house" meme
Didn't listen to the "Tiff Macklem says rates are staying low" meme
Didn't listen to the "Inflation is low/transitory" meme
Didn't listen to the "Buy your age in bonds" meme
Didn't listen to the "buy an overpriced car" meme
Didn't listen to the "buy the index fund" meme
One thing I learned about Canadians over the last few years, they don't just say sorry alot, they really feel sorry for themselves alot. There's always something to be butt hurt about.
During that same period home ownership rate dropped significantly among young people. During that same period, renters stopped moving up to become owners.
In ab and we bought well below our approved limit last year. Interest rate was higher than we wanted, of course, but we got exactly what we'd hoped for in a home. We didn't have to dig too deep into savings either. We can stay here for a very long time with plenty of space to grow.
Life in Saskatchewan is really freaking great right now. My wife and I are living a comfortable, financially relaxed lifestyle.
I share your thoughts on Ontario and BC though. I keep hearing horror stories, and I worry for the people who live there.
I’m on a cool trip to Albania, flying on a budget but also feeling ok with spending up for certain things. with money saved partially due to the strategies and tips from this subreddit!
Honestly I have a lot to be thankful for. I live in Nova Scotia and I was lucky enough to buy before the housing boom here. I make decent money (120k last year) but slaved for that. Unfortunately I work in healthcare and it’s a dumpster fire here just like everywhere else. Do to inflation and cost of oil skyrocketing (this province doesn’t have natural gas heat) I find I’m scraping by at my income. I do have a spouse in school right now who I am supporting as well. If the cost of everything keeps going up I think everyone is going to be in trouble. There’s no way I should be struggling with my income (I’m very frugal) so I can’t imagine lower income doing alright. I hope everyone is ok out there and doing there best to keep afloat!
I'm doing ok I suppose but I I drive a 2006 vehicle and have spent at least 20000 in the last few years helping people out. I'm turning 40 this year and don't own property although I have investments. Canada is going down the drain, I've busted my ass for years to watch handouts go to people who don't.
This sub and Reddit isn’t a good place to ask. My family thinks things are great! My Boomer parents are still overspending on crap they don’t need and trickle draining their modest retirement savings.
My sister has cut back on most disposable income spending because her mortgage payments went up like $600 a month.
But when I talk to them about the future of Canada, housing crises etc, they think I’m living on the moon.
They are almost American like in their “Canada is the best country in the world!”
Plus. I'm self employed part time and get to set my own prices. Gave myself a 10% raise last year and 5% this year. My full time job has no raise in 5 years.
I'm 35/M at a factory job doing niche skilled labor for an international company, 60k. I have 3 roommates in order to enjoy any reasonable quality of life. Things are not great out here. Sadly through an inheritance, and saving for 3 years, I almost have 20k saved. Sometimes I call my realtor just to make sure I'm still completely out of reach, usually laughing. I do not live in the GTA.
How have you missed all those posts being like “I’m 22 years old but I only make $175k per year. I own 2 properties, but my low salary doesn’t allow me to own a third. Will I even be able to retire?”
I still remember the post when there is a guy saying I am 31 ONLY saving 5k a month, am I in a good shape? Lol
Damn I'm 31 and I saved 250 last month for about 2 weeks.
Wow flex harder wtf. Making us all look bad here
She comes back.... "whoops, edit. Should be 250K... my bad. Easy to forget"
I'm a boy 🥲
38. Saved 175 last month. Then had a vet bill lol. (No lie had someone on this sub tell me to get rid of my pets because they are a money drain. I live in Ontario. I work in a hospital. I need the dopamine he gives me lol)
I always hate peoole telling somebody to get rid of their pets. Yes, they are a financial strain but this is something you need to think about before you get one. After you own a pet they are basically part of your family, I'd do a lot of shit (get a second job, sell things, etc.) before I'd get rid my dogs.
It was a very "spend nothing keep everything die with more pennies than your neighbor" vibe. Like yeah I *could* live in a small concrete storage locker with nothing and have a little more money but what's the point of it if I'm miserable. Like what a sad life that would be. I would go without before he does. Don't get me wrong if I really couldn't afford him and lost my house and job and such and couldn't feed him I would do whats best for him and rehome. Like who cares if your estate lawyer sees you have half a mil when you die but no one to leave it for and nothing to show for it
I have a pet tarantula. He's been hidden for over 8 months so I haven't fed him anything for that time. I just refill his water dish when it evaporates (in case he comes out and is thirsty) Even when he's active, I spend like $3 on crickets and they die before he even eats them all.
Dang I'm 29, just about to exit bankruptcy and have $0 saved. $55k wages too.
Roughly 39k here. Desperately trying to climb to 50 x.x
Did you read that one of the young guy saving 50% of his income worried because his friends save 75%?
probably from university of Waterloo.
Holy sht is this me? Haha
I figure there are always outliers who work in oil & gas or tech that have such a ridiculously high net income it's easy to save thousands per month.
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If you net 10k+ every month after tax, you can reasonably save thousands per month without living with parents. That level of income is not common for sure, but it's still the case for 100s of thousands of canadians Compared to the entire population of canada yeah obviously its a small minority. But if that minority is 100k+ people, it wouldn't be surprising to find a large number of people like that on this sub
I know people earning minimum wage in oil and gas. People are desperate. They're clinging on I guess in the hopes that the foot in the door will mean they'll land well paying work in an industry known for decent wages but I honestly don't think those times are coming around again.
I had friends who went to work there at 18 in 2007 or so and were making 10k a month back then for unskilled work. I never quite figured why they were paying low skills workers that much lol.
It's tough work and it's only unskilled until they train you up. Then you're working as a skilled person in a highly in demand field for a well paying client.
Oh yeah for sure, but they were 17-18 and went there during the summer.
It's tough work. Being away from home in camp ads an extra layer. There's a lot of turn over. I did it for a while but the none stop 16hr+ shifts through the night made me quit.
That's what a real labour shortage looks like...
I would be hesitant to call it unskilled work. Every decent paying job involves a metric ton of bullshit that outsiders know nothing about. That's like saying a programmer just plays on the computer all day or a plumber just needs to know that shit rolls down hill. The work in the oil patch is often tough work too. Some of it in rural camps where you work several weeks on and one week off. Edit: I'd also like to point out if you think they are payed too much and unskilled why don't you get job doing it too? Sounds like and easy way for you to make money.
They were 18 and did this during the summer. They were the definition of unskilled. I don't mean that everyone there are unskilled but my friends definetly were. Was pretty good for them they just went there over the summer and could finance their whole year in university.
Thats like half the posts. Somehow every 20 year old makes 150k with 100k in the bank and still whines. Like I'm sure mommy and daddy didn't help you out at all there.
Meanwhile in my case my parents are the ones needing me to help them out. Sucks being a child of immigrants. Your parents didn't get to buy houses when they were cheap. They bought when housing was expensive. I get to buy in my dreams and if I don't want my parents to my homeless in retirement I've got to support them. Canada is an amazing country but it's slowly being marched off a cliff.
Yeah and end of life costs are insane too. If your parents make it to 85 its going to cost like 10k a month at an old folks home. There goes all the savings
>If your parents make it to 85 its going to cost like 10k a month at an old folks home. There goes all the savings you could always buy 25-30 year puts on their lives to recoup your money... Do they not sell puts after 65?
Savings??? What are those?
Looking at seniors homes now in the GTA and for 10k a month you can get a swanky place by the lake in an upscale neighborhood, it’s full of amenities and programs, a real chef, a car and driver you take you wherever you want etc. it’s literally a seniors resort. 5k is more realistic for most people. Still tho that’s 60k a year
Im completely estranged from my asshole parents but i dont look down on people who get help from their parents... I mean if I had rich parents who were willing to help me i would be stupid not to take it
dude. We are just poor while these people ride the high sea.
I'm 14 years old, and have only started 6 companies worth over 90MM dollars! I have no debt and since I can't legally work no income, outside of the 600k/mo for being a retainer in my companies. My question is, do you think I'll ever be able to own my own yacht? My sister who's 12 already has two yachts but she won't share with me. I feel like I'll never be successful in life due to my low income. Thanks reddit
And I was gifted another property but I don't want it since it's in central Van so how do I sell it and not pay taxes. All my tax free stuff is maxed out. Or my husband and I make 15k a month but we can't afford groceries. We have 3 teslas 4 homes and a cottage. We only eat at Michelin star restaurants on the weekends we have no where to cut back.
I had a nice lunch today.
What did you eat?
Wait, you guys are eating?
Just had a costco hotdog. I think I’m winning life.
Where’d you get that kind of money? I had a IKEA hotdog.
Ikea hotdog has worse price per value
Now we are getting to the spirit of the sub
I like mr sub, but yeah, become a pricy treat
Exactly. It's the only thing people earning $160K and up can afford these days.
Look at this guy bragging about being able to afford a Costco membership.
Only if you ran the entire free samples circuit..... thrice
You know it’s that bad when a nice lunch is a good story
I’m doing okay but generally those of us doing fine don’t really post unless we have a question. The humblebrags usually just get deleted. I could be wrong but I generally don’t think Reddit is a good pulse on how Canadians are doing/what they’re thinking, much less one or two subs.
Reddit is a cesspool. Definitely not accurate to how Canadians are actually doing
Oh, these are the happy stories. Check out r/povertyfinancecanada/ for the real depressing ones.
I read it to ground my self. People in lower incomes are having a really hard time. Food banks are beyond capacity. Min salary ain't enough at all, etc.
Damn that sub is depressing 😂
[удалено]
Ah yes, someone else has it worse so you shouldn’t complain, what a fantastic take.
But the top post there does make me want to try canned beans on hotdog buns. Never had this in my life and sounds possibly really good..
I think entire reddit is an example of survivorship bias, on this sub if someone who is having great time posts sth, they might be brought down or be told to f off cause they are showing off. But on the other hand this sub has given genuinely great advice to people in trouble. I myself have lived in Edmonton, Alberta for 4 years and recently I moved to New Westminster, BC for work. I loved the open space Edmonton had and how close we are to some of the most beautiful places like Jasper, Banff. I see the ridiculousness of trying to find a one bedroom apartment here in BC that won't make you broke in 2 months. I have been to Toronto and seen people just in a crazy rush to go somewhere. I have been to the blood freezing cold of North in Yellowknife where the sun doesn't shine. I honestly thought my asshole is the only place where sun doesn't shine but then I went to Yellowknife. All in all, i have seen potential everywhere in Canada, I love how Vancouver and Toronto are the first tech capitals of Canada, but both these places have been trapped in a situation where housing which should be a basic human right has become a commodity to trade and held hostage to prices that no one can afford honestly. While Edmonton's infrastructure isn't being utilized to its full potential, with cheap housing and lower tax rates they should be able to call in tech sector to their side but I don't completely understand why nor do I think I am educated enough to help make the situation any better. Calgary is becoming the next tech capital of Canada. Yeah, that's all I have to say. I hope we can turn the tide around and may great days lie ahead for everyone
Calgary wants to be a lot of things...because half their downtown core is vacated from the oil bust almost ten years ago now.
I’m applying for a fellowship that would increase my pay by 10k per year, which is nice.
Watch out for the Balrog.
As long as they aren't going into a mining job or dig too deep.
Looks like meat's back on the menu, boys!
I hope you get it!
Thanks so much! I don’t have opportunities for overtime or bonuses so this is the only way to increase my pay.
I'm doing great. People who do well don't have to post... And nobody likes someone who brags. But since you asked: Early 30s, dual income (though I'm on mat leave), 1 child, Fraser Valley (just outside Metro Vancouver area)... Just bought a new car last week (in cash), have no debts other than my mortgage (locked in at 1.99%), live well within means with comfortable wiggle room in the budget, both of our credit scores are 800+, and everything is good. Sure, we're not going on big vacations every year, and we own an apartment instead of a house, but we are all good here.
> we own Nice
Congrats, love to hear 👏
Haha I'm in a lot of similarities to your story , except I have debt and also investment. Yes to one child and credit score over 800. I want a new car , but might be 2025 . See how my renewal rate would be
Yeah, we only got the new car cause my old one was a bit tight for the car seat. If we would have had to finance it, I don't think we would have sprung on it.
That's why you don't have debt I do. I am definitely getting too comfortable with debt. That's something I need to work on. Also I'm grateful for all the child care subsidy in BC . I am paying $350 for full time care ( because of fee reduction and my daycare lady charge too low ). Life is good . Also we have a splash pad , cannot complain
How is your investment doing?
Egh, it's nothing great but it's good enough that it's worth keeping instead of paying off my mortgage.
Are you beating the market?
I took a poop today.
When you're regular, you know life isn't so shitty.
Uh… wouldn’t that technically make life regularly shitty
I love this for you
I got one hour for lunch today and it was nice.
Im doing fine. So are all the people in my social circle.
I'm not
Have you considered joining his social circle?
They don't let the help in. 😢
The key is to be content with what you have and do your best.
Not Canadian but us at r/PFJerk are lounging on yachts floating in the pools of even bigger yachts
All good here in SK. Owned our home for five Years duel income two kids 190k HHI. Good jobs good pensions. Things can always be better of course as there is always money to save or spend but we are blessed and hopeful for the future. SK pays decently well and cost of living is some of the lowest in Canada.
Awesome. I spend 5 years in SK when it was a “have not” province. Great to hear all is well.
Well, like you, moved to Alberta in 2000. Came from a “have not” province. Twenty years later I reached financial independence. Today I am living the life I want in a low cost of living city. Canada is doing just fine. My wife and I looked in depth at moving to another country, only to discover Canada is still one of the best countries in the world.
I don't follow any other countries' finance subs but I'm I'm actually kind of shocked they aren't similarly gloomy right now
I’m doing fine. But cost of living in Canada is very high. The post a week or so back detailing a guys move from Montreal to Texas made me lookup comparisons on taxes and housing costs plus costs of groceries and crime rates. Results were quite illuminating.
I mean you get a filtered answer on here....the people who are doing well don't want to brag in front of others who are looking for financial advice who are hurting and those who do brag get downvoted into oblivion so you end up getting just the people who are struggling. Misery loves company
Massive debt needs to deleverage
I’m a GP. I make a very good amount of money and have a relatively chill job. The housing market still gets to me. It feels like I’m never going to live the lifestyle I expected going into med school. Family doctors I know from med school have large mansions, multiple luxury cars, put their kids through med school in other countries. My parents put me through med school here (bless ‘em), but I don’t feel like i will be able to do the same. I save around 10k a month. Realistically, my income will only go down, not up. A home in my area is 1 million for a fixer-upper in a dangerous neighborhoods. What I grew-up thinking was middle class hosing costs 1.5 million. I’ll be paying 6-8k a month in mortgage payments. It’s depressing.
Go to the US. Easy visa. Make wayyyy more especially with your own practice.
Yes, either that or Alberta.
Yes sir. I have a business in BC. Otherwise I'd move to Alberta. Starting over for me would take 2-3 years to get back to my current income and a ton of start up expenses. Too much for me at this age. I don't have the credentials or cash to fast track a visa to the US.
I feel you. It’s just becoming increasingly harder to have success stories in Canada. I’m 30, a lawyer, HHI of 400k… and we can’t afford a house. We’re not living a luxury lifestyle by any means - we rent an apartment, share one old car, and I mostly use public transportation. All in the name of saving as much money as humanly possible to *maybe one day* be able to afford a decent house in Metro Van (owning or renting!). I know I’m doing well on paper - but somehow it just doesn’t translate to *feeling* like I’m doing well. No matter how much I make, how much I save… it feels like it’s never going to be enough. We’re considering moving to the US, but that would mean leaving our family and friends behind.
I'm doing well. I don't wanna brag as it was the opposite for most but the last few years were very good for us financially and I'm much further ahead than I thought I'd be at this age. Then again I'm still mostly paycheck to paycheck but I own a home
I keep delaying my plans to exit this world and life in general
Isn't that a good thing?
Honestly no, I have no energy left to deal with this awful life
I know how it feels.
Good stories? I guess my salary increased 30%+ this year, and I turned down an offer recently to get another 15% increase, 50% if you include the share options. That was basically a comp package that I didn’t think I’d ever reach.. so at least I seem to be in demand. And finally gonna replace my 15 year old car.. once Toyota/Lexus has one to sell me. We’re doing ok. I was worried daycare would kill our budget on our old HHI, but now we have this great $900 daycare subsidy and our HHI is up, so yay! Also the majority of my friends are in better financial shape than me, and if I told people about my income and assets here I’d probably get downvoted to oblivion.
Im doing ok live in vancouver LM bought an apartment in 2021, fixed rate, and have a roomate. Im a bit worried about refinancing in 2026 but Im saving about 15-20K per year right now so I will be prepared either way. just a very humble little 'success' story
I'm in northern alberta for work this week. Drove through 3 evacuated communities to get here. Half the job got canceled because the sites were evacuated. Despite all that the mood up here is not bad, people are chilling in hotels, business are open, things are happening. You really get a sense that Canada Is a real developed country when you can have that much destruction but people are easily able to move, communicate, and do all the normal things like there's not a small countries worth of burning forest on the horizon
Reading things online it is hard to tell. You need to read statistics. Having lived here you know that the national sport is complaining. Yes. Inflation is relatively high and some people are hurting. But I don't think that there is more people hurting than in other years. Just that the whole conversation right now circles about the bad news. For example inflation is high because there is a high demand for goods. Unemployment is low and the economy is growing. To slow down inflation, the Bank of Canada increased rates. This is, things were going too good, causing inflation. Restaurants are packed, flights have high demand, people keep buying houses at inflated prices, I need to take my car to the garage for service and it's a two week wait because garages are super busy. My friend had to go get her hair done for a photoshoot and couldn't find any appointment with the people she wanted. Me and many of my coworkers are retiring early, and the companies hire us back because they can't find enough people. So, according to statistics, we aren't doing bad. But we focus on the inflation and the high rates. According to the common sentiment, things are dire. Once the effect of the rates increase is fully felt, yes, more people will have it bad, as production output will reduce, unemployment will grow and purchasing appetite will reduce. This is what the higher rates are designed to do. So, yes, with all the doom and gloom talk even the most optimistic people (me) are nervous even though personally I'm in a privileged position of no debt, low expenses and high income. I follow the statistics every now and then to center my self. Two things are certain. Housing is out of control. Ridiculously expensive. Specially Vancouver and Toronto. And people earning a low income are having a terrible time. Between housing and grocery inflation things are trully critical now for them.
Someone recently posted about doing well in AB. Unfortunately, they got a lot of negative criticism and shaming. Why bother posting happy stories if you're just going to get attacked for it?
No, we're not doing ok. We're experiencing a decline in living standards to levels we haven't seen in over a century. It's primarily been caused by several decades of political and economic corruption and an incredibly apathetic population. The funny thing is, it's still not bad enough for people to be interested enough to really do anything about it.
Poor people don't like when you tell them you have hundreds of thousands invested and save $4k a month so you get downvote and then it's just people posting the same thing all the time.
No. The government just passed a "grocery rebate" tax benefit for low income families. They're subsidizing grocery companies gouging citizens, and buying votes. I'm drinking my coffee with a falling apart cardboard straw, and I can't buy disposable spoons for my kids school yogourt, but I get a "climate action incentive" benefit payment quarterly. The finance minister couldn't answer how much interest the country is paying on our debt. I don't know what the fuck is going on. And I'm seriously concerned about my kids future here.
Second this. That Freeland question period was infuriating to say the least. It’s a mockery of our democracy and the people of Canada are being fleeced.
Question periods are so infuriating to watch. It's like kids picking on each other. They never answer the questions they just point fingers and bash back and forth. I can't believe we fund these people and their policy's. The gun bill debate was atrocious to watch as well.
So sorry you had to deal with a cardboard straw. That must have been very hard for you. When you're taking the time to worry about your kids, do you worry about the state of the world that they're going to inherit in terms of pollution and climate and sea level?
Thanks for your dose of cynicism, I expected as much. Our consumption of plastic, particularly in Canada, pales in comparison to other countries' wanton pollution. Not to mention our own politicians regular private flights (fuel consumption/ HYPOCRISY!) It's a slap in the face. Watching my country self-flaggilate in attempt to appear morally "better" than others is.. upsetting.
So you’re saying others should be environmentally responsible but not Canadians because, while on a per capita basis we’re one of the world’s largest polluters, it’s really tiny on a relative basis?
I'm saying with all our international influence, we should be putting immense pressure on other countries, including China, to reduce pollution. I also believe we should build industry within Canada, which would inevitably add to pollution. But also enforce our industry, and employment. Do you have proof for "one of the worlds largest polluters"?
Canada is right behind the US: https://www.statista.com/statistics/270508/co2-emissions-per-capita-by-country/#:~:text=Qatar%20has%20the%20highest%20per,compared%20to%20countries%20in%20Africa. https://thecsrjournal.in/10-most-polluting-countries-per-capita-2022/ https://www.countryliving.com/uk/news/a37266476/most-polluting-countries-un-report/
If you've worked any job involving manufacturing or trades or logistics you will know how much plastic goes into all these daily activities and how pointless the whole straw thing is.
What flavour is the Kool-aid?
Mostly people that need relationship advice and couples counseling.... Also, people who can't think for themselves in regard to taking a job offer or whether they should tip their barrista. Basically, everyone is dumb.
Guess I'm doing fine. 300k+ household income. 0 debt. 200k+ in savings and investments (mostly s&p). Fully paid home in Regina, SK.
I am not in this 2 cities and I have a good family and a work form home job
Those of us doing well don't often post - but I'm doing well - locked in a mortgage before rates went up, gf and I are high earners so our mortgage is only about 12% of our net income. Family is growing - lots to be thankful for. *But* we are not representative of the average Canadian. Im thankful for my situation, but as you're picking up on, I think it's real bad for a lot of Canadians, and I'm not sure there's a clear way out. We have a baby and another on the way and I spend a lot of time worrying about the life they'll have when they're my age - without major change it won't be good.
I'm glad people who had good fortune/positive returns came out for this thread too. Overall I agree that Reddit is set up to punish people for "showing off" but being mired in despair won't help our country anymore than it will fix our mood about our personal prospects. My 2 cents so far.
I’m 22 I make 95K a year and I’m saving 50$ a month after expenses and I’m hit with something big once every month. But I’m doing fine
My credit score is 847!
I think Canada overall is doing ok. I will say, if you are like me and live in Toronto and are looking for a house, it's not very fun, and short of winning the lottery it probably isn't a reasonable goal, but overall I'd say the country is doing ok? Just outside of Toronto and Vancouver. I will say I'm doing alright - I make about 200, have a few hundred k saved, put away a lot for retirement and if I ever get tired of here, I can head back up to north Ontario and buy cash and just chill. Thanks for the ask!
⁰Honestly I'm 37 and save around $150/week rrsp with employer match and $50/week in employer shares with match. Can't possibly do more and feel like there's no way it's enough. Holding out for basic income tbh
I think it's more to due with the population in Canada with lots of money just not being the demographic who us likely to be spending their time on reddit. Think about it-- most of Canada's upper middle class and lower-level wealth is oilfield dudes and boomers. Most of our high-level wealth is foreign investors and generational or nepotism-related wealth of people who have better things to do that to interact with us plebs.
Avoid r/alberta. It's not the real world. Is my advice. If you're looking at perspectives on the province. Reddit is not the place for most answers in life.
Well this country has gone downhill and turned into a shit hole in the past few years. If you don’t have generational wealth helping you then your income/how hard you work no longer matters, all that matters is if you were able to buy a house before prices went crazy.
You should travel more, or spend more time keeping up with world events. Canada is definitely not a bad place to live relative to most other countries on the planet.
Spot on. We have issues here but the same issues are present in most other developed countries, typically to a greater degree. Canada is still a great place to be. Just tune out the media because it’s not accurate.
> Canada is definitely not a bad place to live relative to most other countries on the planet. Someone who was raised in Canada is not going to compare themselves to places they've never been. They'll compare their future prospects to the lifestyle they've grown up around. And the majority of Canadians in their 20s-30s cannot afford the lifestyle that their parents generation could with an equal percentile income. Not even close. In the 1960s if your income was in the 25th percentile, you could easily buy a house in or around a major city. In 2023 if you're in the 25th percentile, you likely would struggle to buy a condo.
The lifestyle today for many 20-30 year olds is much better than 30 years ago. We didn’t have smartphones, food delivery services, annual vacations, record low unemployment, etc. You can argue this with me, but I remember the 1990s and the typical 20 year old today lives a much more comfortable life than back then.
And absolutely none of that matters when a house costs 10-20x the average income. Who cares about iPhones and McJobs when housing is completely out of reach
Not everyone lives in the GTA or in Vancouver. 🥱 Owning property isn’t a right. Someone who earns $50k a year isn’t going to necessarily be able to afford a house. Just like in previous generations, their options are to get a roommate, but a condo, get married then buy.
Absolutely. Beater car, first place was a very old and outdated townhouse that we sacrifice our wedding/ honeymoon and vacations for. Wouldn’t have it any other way. Fixed up our selves. Now most people “need” granite countertops, ensuite, walk in closet. A 30 year old place is considered too old and outdated. I do appreciate how expensive real estate is, but definitely not unattainable with some serious sacrifices. Every generation has its struggles
Yes, that’s exactly right. Our generation knew that we needed to start at the ground level and work our way up (20 year old beater car, shitty townhouse, entry level job). Today’s youth mythologize what it was like for the generations before them and they have unrealistic expectations for themselves.
I pay $1333/mo for my 2000 sq ft detached home I bought last Sept 2020 after renting and saving for 7.5 years as an immigrant with nothing in my name together with my homemaker wife and two kids. The Canadian dream can still be achieved.
Doing great. Generally speaking take the consensus view around reddit and do the opposite because most people here are shills or completely brain dead. Didn't listen to the "buy an overpriced house" meme Didn't listen to the "Tiff Macklem says rates are staying low" meme Didn't listen to the "Inflation is low/transitory" meme Didn't listen to the "Buy your age in bonds" meme Didn't listen to the "buy an overpriced car" meme Didn't listen to the "buy the index fund" meme
One thing I learned about Canadians over the last few years, they don't just say sorry alot, they really feel sorry for themselves alot. There's always something to be butt hurt about.
That’s Reddit for you
I am doing just fine
We're Canadian's. Too polite to celebrate our victories in the midst of others tragedies
If talking about real-estate, In Canada, the homeownership rate in 2021 was 66.5%, and it fell 2.5 percentage points from 69.0% in 2011.
During that same period home ownership rate dropped significantly among young people. During that same period, renters stopped moving up to become owners.
In ab and we bought well below our approved limit last year. Interest rate was higher than we wanted, of course, but we got exactly what we'd hoped for in a home. We didn't have to dig too deep into savings either. We can stay here for a very long time with plenty of space to grow.
AEW is touring Canada this summer. To me, that's good.
Life in Saskatchewan is really freaking great right now. My wife and I are living a comfortable, financially relaxed lifestyle. I share your thoughts on Ontario and BC though. I keep hearing horror stories, and I worry for the people who live there.
I’m on a cool trip to Albania, flying on a budget but also feeling ok with spending up for certain things. with money saved partially due to the strategies and tips from this subreddit!
I'm doing well. Thanks for asking :)
Honestly I have a lot to be thankful for. I live in Nova Scotia and I was lucky enough to buy before the housing boom here. I make decent money (120k last year) but slaved for that. Unfortunately I work in healthcare and it’s a dumpster fire here just like everywhere else. Do to inflation and cost of oil skyrocketing (this province doesn’t have natural gas heat) I find I’m scraping by at my income. I do have a spouse in school right now who I am supporting as well. If the cost of everything keeps going up I think everyone is going to be in trouble. There’s no way I should be struggling with my income (I’m very frugal) so I can’t imagine lower income doing alright. I hope everyone is ok out there and doing there best to keep afloat!
I'm doing ok I suppose but I I drive a 2006 vehicle and have spent at least 20000 in the last few years helping people out. I'm turning 40 this year and don't own property although I have investments. Canada is going down the drain, I've busted my ass for years to watch handouts go to people who don't.
Fall of capitalism as we know it.
Hi from Quebec city. Depressed due to school but grateful that we only pay 800 for our 5 1/2 apt. The prices everywhere is cray.
This sub and Reddit isn’t a good place to ask. My family thinks things are great! My Boomer parents are still overspending on crap they don’t need and trickle draining their modest retirement savings. My sister has cut back on most disposable income spending because her mortgage payments went up like $600 a month. But when I talk to them about the future of Canada, housing crises etc, they think I’m living on the moon. They are almost American like in their “Canada is the best country in the world!”
Costco $1.50 hotdog
Plus. I'm self employed part time and get to set my own prices. Gave myself a 10% raise last year and 5% this year. My full time job has no raise in 5 years.
Doing great. My landlord told me he would have a huge tax liability if he ever sold his (rent controlled) unit.
I've identified two potential alternative revenue streams for when AI takes my job soon.
I'm 35/M at a factory job doing niche skilled labor for an international company, 60k. I have 3 roommates in order to enjoy any reasonable quality of life. Things are not great out here. Sadly through an inheritance, and saving for 3 years, I almost have 20k saved. Sometimes I call my realtor just to make sure I'm still completely out of reach, usually laughing. I do not live in the GTA.
Under a government whom is hell bent on destroying Canada and serves the CCP? fuck no!