@raficredit: $100,000 a year is a dogsh*t salary

Flames :

I make 90k and have 3 paid off properties worth 2m total. 500k in rsp and tfsa maxed up. I mean you can save if you live within your means.

Afras Khattak :

Absolute facts. As a guy that makes over $300k per yr, I don’t know how anyone survives on $100k per yr in this country without being completely constrained. For the youth, I always tell them, try to get into a service industry that never goes out of business no matter how bad the economy is. Lawyer, accountant, doctor or engineer. It sounds cliche, but those areas are always in demand. Personally, I’m a family law lawyer, and even if the economy is a dumpster fire, people still get separated and still get divorced. Targeted industries like that 🙏🏽

No Kody :

I take home 5300 , all expenses 1800 how am I doing?

TrollAccount :

I'm paying about 50 percent of my income on housing too. There no extra money for investing. paycheque to paycheque.

Upneet Kaur :

I agree, that’s true in Canada, but on a broader perspective, business IS a way to reduce taxable income and start building wealth. Learn high income skills. Have to start from ground 0. But consistency will pay off. The internet today DOES have opportunities where you CAN make more money. Use your 9-5 to fund your 5-9 but the whole point is START.

Toshitab :

I would advise to reduce expenses. 100k is à good income. But no if people live above their means. Do you really need that Porsche? Do you really need that big house? Do you need restaurant each week?

GujuGaming :

I feel exactly this, my house expenses is 4000$, wife on maternity so I can’t wait for her to back on full pay. It’s a lot of pressure…

Ryan :

Take home pay for a $100k salary in Ontario is $74k

Canadian Bacon 123 🇨🇦 :

Live close to work. Ride a bike (even in winter). Use Ubers when absolutely necessary and rent a car for big trips. Invest the savings (no insurance, no payment, no repairs or gas)

Robinhood 🇨🇦 :

Sorry don’t agree. 40-50% is very common cost of roof over your head

JryPottr :

Well aren’t you a ray of sunshine

tag :

ya 100 k is the new norm

Jamie 🇨🇦 🇺🇦 :

So what's the solution? Downsize?

CHUCK 🇨🇦 :

Jeff Britton :

wow theres so excited great advise. lol

Abcdef :

I make $390k - 28 years old working in private equity :)!

Jay Fry :

Overtime is the answer..

Millie Mwihaki :

Love your honesty. Finally

LonelyDriver86 :

this is a easy question to answer ... you have to TRY to increase your income but more importantly. you live below your means

Kyle :

Stuck renting in Halifax 3K month I can never get ahead. 💩

Singh’s Landing :

Thank all he heavens that my mortgage is paid off. 🙏

blazeswithjustin78 :

I work on call, I sleep at work some weekends from Friday afternoon to Sunday morning at least once a month to earn 99k salary. I am exhausted, I haven’t been happy in years. I am not living. I need a pause on life to catch up.

Sharj Tarek :

I never touch to 60k in year

Private Nom :

For this economy to grow at all, the powers that be have to do one of 2 things: 1) Increase wages/salaries 2) Expand credit (lower underwriting standards, qualifying etc) It HAS to be one or the other. But they will not do either. They can't. The entire economy is stuck because of this dilemma.

Bh :

100k is the new 60k but the economy has gone in the gutter and there are people looking for jobs who are willing to work for anything so the market doesn’t want to pay more. This is the real impact of poor performance of economy