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Quote:

Originally Posted by StylinRed (Post 7000503)

use the calculator i linked later on yes it comes to 72k but all the other bullshit like ei rsp pension etc etc brings it down a couple 10k more
https://apps.cra-arc.gc.ca/ebci/rhpd...ptionsJul10.do <<its a govt calculator and it calculates by province

That calculator is per pay period, not per year. Thus if you put in 100K/week you get taxed at the top rate since that's $2.6M for the year. :p

Quote:

Originally Posted by itsallaboutgz (Post 7000499)

1. House (and don't tell me living in a 1964 house on Boundary and Kingsway is upper class. Also living in a 2 bedroom apartment is not upper class)

This is the huge problem with your example. Living in any house in Vancouver puts you in the minority of those who can afford it - aka the wealthy. Why do you think we have a housing bubble here? cause people worship homes here for some dumb reason.

people make more money and end up wanting and buying more things. having more "stuff" doesn't bring happiness.

Quote:

Originally Posted by taylor192 (Post 7000579)

That calculator is per pay period, not per year. Thus if you put in 100K/week you get taxed at the top rate since that's $2.6M for the year. :p

so i was off by a few k :P i didn't say i was exact :haha:

Quote:

Originally Posted by dark0821 (Post 7000201)

if that is how you live when you earn 5800 a month, than i am out of words, maybe you havnt read the article, but that 5800month puts you in the top 5% of income... now.. if the top 5% is middle class, the 95% below you is what?

alrite... here is a smack down if i had 5800/month
2 bed apartment in metro vancouver 1500/month (property tax/untilities)
1 EVO X 1200/month
4 weekend outing of 8 days X 100/day = 800/month (for people like us.. $800 is like 3~4 trackdays a MONTH..now if that aint ballin?)
Internet/Phone/TV = 200/month
lets say food runs you $30 a day = 900/month

even after all that shit... you still end up with $1200 in ur pocket..
1200 dollars @ 10/hr(after tax) is 120hrs which is abt some students calls.. 3 weeks of full time work when they are off school in the summer...
now...5800 month after deductions is abt 36.25/hr(after tax, $52 b4 deductions)...now can you tell me how many professions lands you $52/hr and can keep you working for a 40hr week?

if u dun go out and spend that 800 bucks on weekends.. you easily can save 2Gs a month... and thats if ur wife/GF decides to not have a part time job at all... if she does.. i can see you being able to afford an european trip/florida cruise/vegas.. every year...instead of people planning for a trip like that years ahead, you get to have all three in one year.. ?

if you think 100K is middle class... i dunno what ur family is racking up a year then... cuz lemme tell you..the friends i hang out with.. none of our FAMILY income even comes close to $5800/month after deductions...

just my 2 cents, i am not saying i am right, but i just want to further explain mt point of view...

yeah those calculations are pretty right...

but thats not ballin... thats like living pay cheque to pay cheque

it might be balling.. for a bachelor who's renting and isn't trying to own a house

imo that's lower middle class

Quote:

Originally Posted by itsallaboutgz (Post 7000499)

1. House (and don't tell me living in a 1964 house on Boundary and Kingsway is upper class. Also living in a 2 bedroom apartment is not upper class)
http://www.realtor.ca/propertyDetail...ertyId=9661565
$675k, 10% down, 25 years @ 5%
$3500/month

First time home owner jumping into something like that is tough. If you could rent part of it out, that would help, but taking on a $600k mortgage is scary.

putting a larger down would help

So lemme get this straight
100k annually = upper class? in vancouver?
you gotta be shitting me

its a fact that the housing median multiple in vancouver is around 9.3
meaning homes are ridiculously expensive here compared to what an average person makes
which also raises the bar creating a new "middle class"
case in point
if the average median multiple is supposed to be around 3.0
and the average housing property here costs 550k
then i gotta earn at least 183k annually to properly afford an "average" priced home

100k annually was enough maybe 6 years ago but times are changing fast
just because the average annual income in canada is around 40k
that doesnt mean its "middle class" and anything higher is "upper class"
when you still cant afford to buy a shack in vancouver
its gotta be relative to each other

i forgot to add the 183k is before taxes which is around 100k take home pay
it would still take around 10 years before you can buy a 550k place
not to mention the 12% bullshittax being added on to everything we spend our $ on
thats about 88k left but not including utilities, property taxes, maint fees, health/dental care etc etc
15k a month is not as much as it seems eh! even cops can make more than that

now if you wanted to be a true vancouverite and get yourself a real crib then you are looking at at least 1-3 million bux
even then its not "high class"
diff story if you spent that on a condo

I was in Winnipeg recently.

We looked at houses with my cousin. 2500-3000 square feet (everyone has finished basements there which adds SOOOOOO much room) in good parts of town? 150-200K.

I could have cried. But then I remembered how cold the winter was and I felt a bit better.