Rentoid from Canada

[Anonymous No.55889293]

I'm from Canada, I make 70k/year and I am 24 years old. I am debating two options:
- living with my family and saving for a mortgage,
- being a rentoid for a studio with a rent of $1465/month (all included, $17,580/year)

Part of me doesn't want to live in Canada or even own a place in the future, the mortgage and taxes would fuck me over. But at the same time, I don't want to make the (((landlords))) richer. The housing situation is so messed up here, I am lost.
What should I do? I want to make the best out of my young professional years, but I also want to be able to create wealth in the long run.
I know It might be an exhausted topic and people might have different opinions, but I would just love to hear the tips of older anons with more experience to help me figure this out.

[Anonymous No.55889299]

Live in a vehicle

[Anonymous No.55889305]

>>55889293
>Option 3
>Live with senpai, hope your crypto goes 1000x
>???
>Profit

But live with them until you can't anymore, if things are well just keep saving up

[Anonymous No.55889313]

If you want some real estate get a FHSA account, contribute up to 8k/year till you contribute the max 40k

to save more money if you can, working in the states is probably better for a higher salary and lower CoL. You also get some % of the down payment covered by CMHC as a first time homebuyer

if the current canadian real estate bubble pops, probably a good time to buy when the dust settles

[Anonymous No.55889316]

>>55889313
I'd say it's gonna be a while

[Anonymous No.55889369]

>>55889293
>- being a rentoid for a studio with a rent of $1465/month (all included, $17,580/year)

remember that's going to be after tax income so multiply it by 1.3 or so

[Anonymous No.55889448]

>>55889293
Firstly, do not leave the Country. The political instability here is going to bring unique opportunity very soon.

I know it sucks, but if you got roomates you could reduce your housing costs by 50-75%. If roomates don't sound like your thing then go back to family.

[Anonymous No.55889512]

>>55889293
27 canada here,
I feel you brother, i pay 33k a year for a house that i can live in with my gf, and my advice to you is to do everythign you can to get income/assets outside of Canada as soon as possible.
Skills are great, but only if the jursidiction you live in doesn't treat you like a slave and tax you into deprivation which is unfortunately what the combined progressive tax system and inflation are doing to Canadians.
The quality of life here will decline, so again, highly recommend being less dependent on domestic income if you can. Literally buy a place in some foreign land before buying a place here if you can. You'll be better off if the government continues doing what it is doing.
If by chance we have a conservative govt, it won't last, socialism will 'win' here, which means we're all completely fucked.
It kinda sucks but at the same time, life goes on. It'll be ok.

[Anonymous No.55889581]

I was in the same spot at your age. Rent. Be independent. Don't be a whiny fag, just put the work in and life gets better as you go. All you fucking zoomers expecting to have "made it" in your early 20's sound like fucking retards. Building is the fun part.

t. 35 year old that was broke once too and is rich now because he worked hard instead of complaining on an imageboard

[Anonymous No.55889596]

>>55889293
Fit out a nice vehicle to live in. Least you'll own it.

[Anonymous No.55889623]

>>55889293
drive from 24 hour diner to 24 hour diner

[Anonymous No.55889643]

>>55889369
>remember that's going to be after tax income so multiply it by 1.3 or so

His rent cost isn't income

>>55889293
If you have a decent relationship with family there is no reason why you shouldn't stay with them as long as you can; ideally you want to work as a family unit to reach your goals.

Use the extra money you save to invest:

-Majority in safe investments
-Higher risk investments with a fraction of savings (say 10% or less depending on risk tolerance, can go as higher but not recommended)
-Acquire skills/knowledge to increase income

You are young so you have many years you can play the long game and compound $$ to get ahead. Keep in mind your main goal is only to outpace inflation, if you do at least that much you'll be fine.

[Anonymous No.55889728]

>>55889293
Live with your parents while you finish your studies, gain experience and the GTFO of North America

[Anonymous No.55889803]

>>55889293
get a better job i'm 25 and make 120k
70k is jeet tier wages

[Anonymous No.55889827]

>>55889803
>get a better job i'm 25 and make 120k
>70k is jeet tier wages
What is your job?

[Anonymous No.55889866]

>>55889316
>1 million foreigners moved to Canada last year.
The canadian housing market will never collapse

>>55889293
Either move in with your folks or move to the U.S.

[Anonymous No.55889868]

>>55889643
>ideally you want to work as a family unit to reach your goals.
Aint that the truth
https://www.bnnbloomberg.ca/parents-gifting-82-000-on-average-to-first-time-homebuyers-cibc-1.1671716

[Anonymous No.55889877]

>>55889512
"Conservative" in Canada just means "900,000 immigrants per year instead of 1,000,000

[Anonymous No.55889891]

>>55889581
The economy has been fucked so hard just in the last 10 years.
>Toronto:
>Average 1BR rent 2010: 950
>Average 1BR rent 2020: $2,070
all the while wages have been stagnant. Canadians have lower incomes than Americans in Deep South shitholes.

[Anonymous No.55889896]

>>55889305
Based

[Anonymous No.55889902]

[Anonymous No.55889987]

>>55889448
Can you elaborate on the unique opportunity part? I've been trying to figure that out myself

[Anonymous No.55890371]

>>55889902
Thanks for contributing! Two more browns will replace her and generate even more growth.

[Anonymous No.55890634]

>>55889369
Fake pepe look at his eyes

[Anonymous No.55890644]

>>55889581
This so much this
Don't forget beens and rice for 20 years

[Anonymous No.55890668]

[Anonymous No.55891724]

>>55889827
data science in financial services company

[Anonymous No.55891774]

>>55889293
Leave Canada.
I'm getting the fuck out and moving to Poland.

[Anonymous No.55891974]

>>55891774
Same here, thank God my parents got my passport setup right at birth

[Anonymous No.55892056]

im live in canada.
i live whit 10k per years.(no job)
my rent all include is 8,5k per years/
..so im in canada and i live whit 1500 per years.. sould i kill myself?

[Anonymous No.55893719]

i have a detached home in Toronto i dont even live in full time yet and I just leave it vacant instead of putting some disgusting rentoid in it. lied on the vacant home tax form and never had to pay shit

get fucked, i hate every other canadian after COVID. they all want me dead and the feeling is mutual

[Anonymous No.55893824]

>>55889293
I lived with parents two years after I graduated and kept 100 a week fornspending and used the rest to pay off my debt. After two years I had no debt and live is much easier. Be like water anon and find the path of least resistance. In the end it will be much easier.

[Anonymous No.55893842]

>>55889293
Go live with your parents that how muslims get rich everyone lives together, paying rent is how most people get rekt

[Anonymous No.55893849]

>>55893719
Can I stay in it? I'm anti-vax...

[Anonymous No.55894126]

>>55891724
Fuck I should leave my fintech company
I do data science and built out several new tools and get paid half of that

[Anonymous No.55894149]

>>55889293
>70k
>24
>Canada
Nice larp

[Anonymous No.55894183]

>>55891974
Based
You speak the language?
I figure by the time the bill run comes in late 2024 I'll have a few million zlotys to invest in some income generating property in Poland, and I'll get my pilots licence in the process to have a day job I don't fucking hate.

[Anonymous No.55894228]

>>55894149
70k cad is entirely possible

[Anonymous No.55894258]

>>55894228
If you’re 40 with a masters then yea

[Anonymous No.55894277]

>>55890644
Hmm I wonder what happened in 1971.

Money printer go brrrrrr

[Anonymous No.55894296]

>>55889877
youre being too generous.
conservative in canada means the same immigration as the liberals. just one less gun ban and no carbon tax

[Anonymous No.55894323]

>>55889581
>was broke once too and is rich now because he worked hard
maybe you are rich now as a product of circumstance and not a product of hard work. why is this angle never considered? you sound like my parents that retired in their 50s claiming it was hard work when they never got laid off once in their lives even during the worst recessions

[Anonymous No.55894342]

>>55894258
???
25 y/o dental hygenists were making $65k in 2020
Any 2X y/o who's done school & doing beyond L1 tech support memework can be close to 70k (in an urban area) relatively easily

[Anonymous No.55894346]

>>55889293
>I'm from Canada, I make 70k/year
It's insane that this was a good wage just a few years ago.

[Anonymous No.55894403]

>>55894346
Canada will enjoy third-world conditions in the near future, particularly if there is yet another liberal government (entirely possible imo)
The only thing keeping it from being Brazil 2 is the winter forcing everyone indoors for two thirds of the year

[Anonymous No.55894409]

>>55889293
kek you're almost exactly where I was at 23 almost a decade ago. I started at 72k/year, and rented an apartment for 1400/mo.
It's very nice to have your own place but I kind of wish I stayed with parents for the savings (they lived too far away from my work when I started but then they moved near me a few years later). If you have a good relationship with them and they respect your boundaries, stay with them and just reinvest the 17k/year. At least for a few years, you'll be able to massively grow your investments, the earlier you start, the better. Especially now with how much less 70k is worth after all this inflation.
For me, I don't see a future in this country, my plan is to save a few more years and retire to a 3rd world country, should hit enough to live off 4% about $2,700/mo depending on how the markets goes and I think that's enough to live a comfy life. Once I hit my number I'm just going to take a year to just travel around, spend a few months at different countries until I find where I want to settle long term.

[Anonymous No.55894419]

>>55894258
entry level white collar pays this much
even government pays this much now
ec-03 is 74k

[Anonymous No.55894421]

>>55894342
Half the population that with an income tax statement makes less than $40k cad. $70k in Canada is upper class. And 98% of dental hygienist in Ontario are women, they get paid big bucks but do a shit job. I’ve experienced their bad work ethic myself.

[Anonymous No.55894431]

>>55894419
Up to doesn’t mean you’re getting that wage you nigger filth. Here’s the reality. Go fuck your self.
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110005501

[Anonymous No.55894436]

>>55894421
why compare yourself with losers? average income for men with degrees who work full time in Toronto over 110k, median is 88k

[Anonymous No.55894441]

>>55894431
>>55894436
i was wrong avrerage is 83k and median is 112k
https://www150.statcan.gc.ca/t1/tbl1/en/cv!recreate.action?pid=9810045301&selectedNodeIds=1D100,3D3,3D4,5D2,6D1,7D7,8D5&checkedLevels=1D1,3D1&refPeriods=20210101,20210101&dimensionLayouts=layout2,layout3,layout2,layout2,layout2,layout2,layout3,layout2,layout2&vectorDisplay=false

[Anonymous No.55894442]

>>55894421
>$70k in Canada is upper class
this totally misunderstands canada.
house prices have detached from wages.
if you bought a home before this and make 70k you have disposable income.
if you have to buy a home today and make 200k (far less after tax) you are fucked.
that's canada: it doesn't matter if you work hard, you can't work your way out, you are either fucked or you are not

[Anonymous No.55894446]

>>55894409
Thank you for your answer. I'm very discouraged with the situation in this country, I feel trapped and lost because I studied 4 years in university and it feels like I could have avoided this degree and went to work instead

[Anonymous No.55894451]

>>55894442
>you are either fucked or you are not
by design

[Anonymous No.55894464]

>>55894442
whats the solution to this?

[Anonymous No.55894465]

>>55894442
if you make 300k in quebec you take home 167.
someone who bought a house can sell it at the top with no capital gains.
it's a rentier hellpit

[Anonymous No.55894478]

>>55894465
also if you think this is "oh those crazy quebecois" in ontario with their "lower tax" you get to keep a whole 7k more.
whoopity fucking do.
you will work for nothing.
you will pay for boomer holidays while your own kids eat shit.
you will earn less.

[Anonymous No.55894482]

>>55894149
im not larping. I got this wage after a 4 years degree in engineering. If anything this feels like a shit wage for what I am qualified for but the market in the field I am in has been massively laying off people so I prefered to go for a job that is "safe" than risk being laid off by FAANG. (I also am not good enough to make it through the selection process)

[Anonymous No.55894483]

>>55894465
Quebec is by far the worst province in Canada to earn money but not so bad to actually live in if you can speak french

[Anonymous No.55894489]

Canada sucks and will keep getting worse every year as far as I can tell.
My plan is to acoomulate $300k-400k of dividend stocks and then move to some 3rd world country.
Where should I go when I'm ready bros?

[Anonymous No.55894495]

>>55894483
This is where I live right now

[Anonymous No.55894515]

>>55894483
3k a month mortgage/property tax to live in pic related (half of it) nowhere near the middle of montreal. 25 year mortgage, 10% down.
Montreal median wage 68k, two people on that take 48k each, 96k, 8 k a month (probably both won't earn median).

[Anonymous No.55894522]

>>55894495
canned beans are now a seasonal product in quebec.
unless you pay twice the price at provigo, suddenly they aren't seasonal.

[Anonymous No.55894526]

>>55894441
>was wrong avrerage is 83k and median is 112k
Dumb nigger

[Anonymous No.55894538]

>>55894464
total default on boomer obligations.
they made this mess, stop asking us to pay for it.

[Anonymous No.55894556]

>>55894526
the only nigger is here is you coping that 40k is good

[Anonymous No.55894558]

ultimately Canada cannot handle high rates.
5y keeps on ticking up.
everywhere I go I see far, far less people.
was in some rich person haunt in Montreal last week, half full.
feels like it's coming. I hope the Fed keep rates sky fucking high for ages.

[Anonymous No.55894588]

>>55889293
You're lucky to even have a job. I tried switching career paths in my late twenties and now I can't find work. I'm leaving. I have enough saved from my 2010-2019 days when the market was going bananas to lean retire in asia, maybe work a side hustle. I'm fucking out of here.

[Anonymous No.55894596]

>>55889877
PP outed himself when he said he wanted direct flights to india.

[Anonymous No.55894630]

>>55894588
What country are you thinking brother, or are you just gonna rotate around on 90 day visitor visas

[Anonymous No.55894633]

>>55894183
Tak moge,

Good stuff man happy to hear another polak thriving, I have land already in the north and want to help out the family business plus my work is cool with me working from Polska. It's our time to get right before they say we can't leave.

[Anonymous No.55894684]

>>55894558
casino by me is still packed friday/saturday. that's my acid test. there was a brief lull a few weeks back but now 25 year old party bro kids and their trashy gfs are flooding back in.

[Anonymous No.55894707]

>>55894630
I've learned a few things depending on the location:
-places like vietnam are nice if you can work under the table for cash but that's hard in my field to do, I knew a guy that fixed motorcycles for a living there and was just paid cash for instance

-places like europe are easier in my field but that involves a lot of paperwork and tax but ultimately comes with welfare and security

So right now my plan is to head to SEA while I keep applying to Norway where I've had some interest from employers. If I get a job in Norway its a set-for-life lotto ticket. If not, I'll keep my head down in SEA, find a gf and open a business through her. I knew a guy in Ko Lanta that had a thai wife and he was able to live there by opening a hostel in her name (didn't really open it just took over management).

[Anonymous No.55894716]

>>55894446
>I feel trapped and lost because I studied 4 years in university and it feels like I could have avoided this degree and went to work instead
I hear what you're saying, I spent 5 years doing a co-op degree (basically got to do 5 work semesters (20 months)mixed between academic semesters, but it takes an extra year). It was nice to get paid early on and graduate debt free, but feels like I wasted too much time doing it.
I had a coworker that got a 2 year diploma that worked on our team for a few years before getting hit with layoffs, and he ended up moving to the US making 2x as much. I'd do the same as him if I wasn't IQ gated from those kinds of jobs (or do remote work and live in a low cost of living area), but it's comfy enough where I am now, I'm a "senior" dev and I'm still not paid 6 figures, but it seems like getting to 6 figures requires a ton of work preparing for interviews, or sucking ass trying to get a promotion and doing even more work. I tried to get those magical 200k+ jobs at FAANG as well and even at my peak I couldn't get through the coding interviews.
I know another guy, and his girlfriend made 300k as some director at a FAANG company, and she was laid off and got a similar 300k director job somewhere else within a week after having lunch with someone at the company. Apparently she works a fuck ton but I can't even imagine what it'd be like to just land such a high paying job so quickly and so easily. With dev interviews it's like a multiple day grilling session of the hardest shit you never have to do that takes months of preparing. Shit is fucked.

[Anonymous No.55894769]

I live in a small BC town, $1150/month mortgage

14/88

[Anonymous No.55894885]

>>55894707
Basically what I've been thinking.
>eastern Europe live with fellow Whites but deal with White bureaucracy
>sea and be a Chad in a monkey kingdom
>south america but man does Spanish sound annoying, I don't really want to learn/speak it

[Anonymous No.55894886]

>>55894716
I'm also a dev (now doing devOps) and this is exactly what I went through. Last year when I had an internship, I had some offers flocking to me for jobs that started at 80-90k as a junior, but this year has been extremely quiet. This is why I landed the one I have.
Part of me is unmotivated to land a high paying job because I don't want to be licking boots and “grinding my way through networking”. I thought of trying to do freelance on the side, but even this is very saturated. I'm glad to hear your story though, feels nice to see that I am not a lost schizo

[Anonymous No.55894965]

>>55889313
>If you want some real estate get a FHSA account, contribute up to 8k/year till you contribute the max 40k

I'm fucked because my name got put on my parents townhome when I was 25 (their credit was absolutely shit) so I don't qualify as a "first time buyer" anymore.

[Anonymous No.55895094]

>>55889293
If you don't mind being around your family, then live with them for like 5 years, save/invest everything you can, and then you can choose to either retire in a cheap country or continue living in Canada. Don't piss away $100k on rent in that time.

[Anonymous No.55895111]

>>55889293
I make $75k in Canada and in Alberta where the rent isn't even that bad and I decided to live back in with my parents.
I can't believe how shitty this country is. $75k should be a comfortable wage but this feels like what "average" should be with the cost of living

[Anonymous No.55895117]

>>55894228
I am an intermediate dev at 54k right now

[Anonymous No.55895127]

>>55894684
not sure that's a great indicator.
people in deep shit go betting too.

[Anonymous No.55895132]

>>55894464
Upgrade your skills and actually be someone who is deserving of owning a home

[Anonymous No.55895139]

>>55895132
wrong, millions of canadians own a home they could never buy now.
the answer? be born earlier.

[Anonymous No.55895182]

>>55895139
Cope poor. I have a home thanks to my family

[Anonymous No.55895201]

>>55895182
I'm self made, in a very good financial position, however I'm not so thick that I want Canada to be way less productive because "I'm alright jack".
Canada is full of people like you, they are ten a penny.

[Anonymous No.55895222]

>>55895201
Don't care. Lol!

[Anonymous No.55895240]

>>55895222
Productivity in Canada is dropping.
It's not a meritocracy.
Your own kids will have a worse life.
> don't care lol
Canada in one snippet.
You guys are complacent, lazy and stupid.

[Anonymous No.55895658]

>>55889868
It's the only way to go nowadays, those who can't do this or otherwise operate in some sort of co-op will most likely suffer or at the least have difficulty retaining a lifestyle they've been used to the past few years

>>55895240
This anon gets it, funny how these last few posts with that other anon encapsulate the difficulty Canada will have moving forward. There are still way too many people who are/ will be comfortable while the other 1/2-2/3 of Canada will suffer a decreasing quality of life and you can bet those with the resources will use whatever means they can to keep any threats to their equity at bay.

[Anonymous No.55895687]

>>55894556
Nigger you’re low iq. I can’t imagine how you managed a job that isn’t low skill if you can’t discern median and average or know how to read percentiles. 75% of Canadians make less than $70k. Btw I curse you with bad luck and karma with Pepe magic. Your mother will die in her sleep tonight. NO IMMUNITY DOG.

[Anonymous No.55895738]

>>55889313
You have to wait 12 years to use it dumbwad, and you have to pay tax LOL

[Anonymous No.55895745]

>>55895182
You aren’t deserving

[Anonymous No.55896384]

>>55895658
Yep that's basically it.
Massively complacent Canadians who don't even understand they can't afford their own house at the current price, don't understand banks loan money into existence, don't understand how prices are set and don't understand the difference between wealth creation and rentier activity.
It's the blind leading the blind.
Ps everyone here whose spent a decade voting for Trudeau's "values" are going to turn on a dime the second the free housing spigot dries up.

[Anonymous No.55896429]

>>55895687
and i showed you the average for full time workers with a degree, why are you comparing yourself with jeets and retards working minimum wage jobs

[Anonymous No.55896439]

>>55895738
wrong and wrong
already used mine for a purchase

[Anonymous No.55896446]

>>55889293
If your parents are normal then stay with them. The savings could be sued to buy coins

[Anonymous No.55896461]

>>55895738
you have to use it WITHIN 15 years
and there is no tax if you buy a house
its a huge tax break for non owners who actually earn a decent salary (100k+)

[Anonymous No.55896486]

>>55894588
Based.
I moved to Alberta to get away from Toronto having endured too many Pajeets/Turks/Iranians/Ukrainians for too long at work.
Worked in the oil fields with the hillbillies but it sucks as well to be outside in -37°C.
I have about 300K liquid in stocks and selling my shitty condo in the GTA. Once I get the money wired from my bank for the home sale I'm bailing the fuck out of this shithole and going to Poland.
My folks have a home there and I'm gonna get some flight training and become a part-time instructor and maybe try the airlines. Meanwhile, gonna find a wifey.

If there was an instrument by which I could short Canada, I would buy it.

[Anonymous No.55896499]

>>55894633
>Plus my work is cool with me working from Polska.

What do you do?

[Anonymous No.55896652]

>>55889313
once you max out a FHSA homes will be $2,000,000. $40k will get you a down payment on a parking space

[Anonymous No.55896665]

>>55896652
This. All this shit did was add more fuel to the fire the same way letting people borrow against their retirements did with the rrsp 20k (or whatever it is now) thing did. This is the leftist logic in our country - too many immigrants creating demand? nahh lets just create even more demand!

[Anonymous No.55896743]

>>55896652
Exactly, look at this retard >>55896461
It's a terrible deal because the value of money today is higher than the value of money tomorrow. Even if home prices go up just 2% yearly, a 400,000 dollar house will be worth 440,000 dollars in 5 years.

The only time it's a good deal is if the whole market crashes, but that won't happen in Canada unless things are so bad people decide abandoning the place is better than living here. If that happens, you probably won't want to buy a home in Canada either.

[Anonymous No.55896874]

>>55889313
>>55895738
>>55896652
>>55896743
>FHSA account
It's worth opening even if you don't plan to buy any real estate because you can move it to your RRSP all tax deferred, it basically gives you an added extra $40k of contribution room.
You also only get the contribution room if you add $8k every year (with only some wiggle room if you miss a year) so it's a good idea to max it out if you can.

[Anonymous No.55896998]

>>55889293
I'm gonna be brutally honest with you OP, unless you have a really GOOD reason, you should live with your parents. Fuck the whole moving out and being independent. Stay at home, work, invest everything you don't spend, repeat until you're in the top 1% of Canadians. Trust me, it doesn't matter if you're making 70k, doing what I just said will put you much farther ahead by the time you're 32 than some retard buying a house he can't afford making $150k.
Housing is bad but the fact remains we have investment tools like RRSP and TFSA that are gateways to wealth. Fuck housing, make it through investments and buy houses later in life.
>>55894346
Lmao so painfully true. At 87k at 28 (maybe another 5k bonus) which is more than most of my graduating class but feels like nothing.

[Anonymous No.55897032]

>>55894596
wtf it's real. https://voiceonline.com/poilievre-says-hell-fight-to-establish-direct-flights-between-canada-and-amritsar/

[Anonymous No.55897097]

In 2021, Canada had a population of 36.1 million and only 25.4 million of them were "white" people.

As of August 2023, the national population is 40.3 million, considering there are more white deaths than births and that the vast majority of immigrants are nonwhite, at the most 25.4 million of the population is White.

People have seen the headlines of 500k immigrants per year, they don't read the article where it says 900k foreign "student" visas. This has been going for a long time, and as jews lose their grip it's just going to accelerate.

At the current trajectory, Canada will be majority nonwhite by the start of the next decade. Its major cities most likely within the next 3-5 years.

You better pray we collapse.

[Anonymous No.55897125]

>>55890668
Oy vey this is textbook antisemitism

[Anonymous No.55897128]

>>55892056
None of this is true

[Anonymous No.55897157]

>>55894489
By the time you’re ready half the third world will be in Canada so it’s something of a wash at that point

[Anonymous No.55897224]

>>55894258
I'm 24 and make 85k a year, it's still not enough as all I do is work.
-oil and gas operator

[Anonymous No.55897243]

>>55894464
Emigrate to SEA or LatAm, unironically.

[Anonymous No.55897247]

>>55894707
Yes Vietnam is a good option. Teach English there and get a work/business visa and residency through an employer.

[Ken No.55897260]

>>55889877

Peoples Party Brother!