[nns]

Firstly, I'd like to say this is a serious topic, so serious responses only please.

With the rising costs of living, how are some of you handling it? I'm sure there are a lot of 20-somethings in here who live in the GVRD, notorious for it's high cost of living. With your salary, how do you guys manage to plan for the future? Do you see yourselves moving out of the lower mainland? Are you contemplating changing professions just to increase your income? Is renting a place in your foreseeable future, or is buying in your horizon? If you plan on buying, how are you accomplishing that?

I guess I'll start with my details,
Age: 20s
Annual income: in the 40s
Field of employment: telecommunications, full-time
Where do you live? South Vancouver.
Single/couple/married? Single.
Renting/own? Rent paid to my mom, and I pay my own general expenses (car, cell, etc).
Investments: none

My current situation:
I would absolutely like to own my own place. Preferably an apartment in Vancouver. Although I've saved up a good amount of money, I'm nowhere near enough to buy my own place. Renting is my only choice. I find myself looking at jobs that may not make me very happy in the long term, but would pay a lot more than what I make now just to help me achieve my goal of owning my own property. I'm someone who always wants to achieve more with my sight set high. I feel my personal development has stalled and is constrained due to my income.

If you guys could share how you're doing it all, what sort of plans you've got, etc. I'm making this post because I want to get some honest insight. For you guys who were in this situation before, but over came it, how did you do it?

[punkwax]

Bro. No offense. @ 40k per year you aren't buying anything in Vancouver proper. You either have to look at the burbs or wait until you start making some decent coin... you're still young so time is on your side.

[TurboFC3S]

If your living @ home you got nothing to worry about especially if your parents aren't pressuring you to move out... Living @ home and saving for a apartment is E-A-S-Y ... Just live at home as long as possible and if your serious about getting a apartment put 60% of your paycheques in TFSA or savings if that's maxed, and don't spend money on dumb things. Then put a downpayment on a apartment that's not built yet and you could even rent it out for a while once its done to pay off some of the morgage..

You can always keep trying to upgrade your job too nothing wrong with that.. Since your in telecom sector you may want to consider switching to union side if your non union. That way you won't have to start a new career.

I'm 23 and renting on my own but I'm a good saver / money manager for myself.. I have a union job and I just never let myself get into debt and keep most my money in my TFSA / savings account so I can't see it / touch it too easily :) I could have easily put a downpayment on a apartment but I want a HOUSE.. Need a big garage for all my toys :)
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[wouwou]

I will be 30 by the end of this year. I spent two years in HK doing horrible hours, and the way to deal with GVRD cost of living?

I move the fuck away to Ontario.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[nns]

Ok, maybe I should clarify. I don't want to live at home. I want to aim towards getting out of here. Hence why I made this post, to see what sort of options there are. Yes, living at home and saving is an option. However, I'd like to pursue other avenues if they are available. Avenues that maybe I haven't thought of. Some people are cool with slumming it at home well into their 20s/30s - me, not at all.

But thanks TurboFC3S, your reply is the type of posts I'm looking for. I don't know much about TFSA, but I'll definitely look more into it now.

[TheKingdom2000]

This is a tough call as i'm sure you LOVE Vancouver as much as I do. But, I think it might be a good option for you to move somewhere else.
ie. up north and get dirty to make a lot of cash. There is a thread on it somewhere on RS. Do that for a couple years and you'll save up enough cash to rent an apartment and then reapply to a telecom job after that.

Or go to Alberta or Onterrible to get a job that pays more. Save up and then move back.

If you can deal with that then I honestly think that is the best idea.
Vancouver is just not affordable for anyone right now. Especially since our job market is terrible.

You're young so moving away for a couple years may not seem like a bad idea. Giving it a shot now might make all the difference later on. Especially since you're single.

I think you should seriously think about moving away for just a little while and see how it goes. Honestly, Toronto isn't that bad. I prefer Vancouver obviously, but Toronto is a pretty amazing city.

[AWDTurboLuvr]

So, your end goal is to buy property in the next 3-5 years? (What are your approx. savings?)

As someone who did what you wanted to do in my early 20's, if I didn't make as much money as I did off the skyrocketing property values, I probably would go back in time and not make that purchase. I would rather have the luxury of being able to have travelled more when I was younger and have an easier way of moving to different jobs abroad, instead of having to take care of property back home.

What I'm trying to say is that, I believe personal growth in your early years, are much more important than buying a condo/house at that point in time.

However, if you are hell-bent on trying to buy a house, like what turbo said, invest/save in a TFSA and yeah, I would consider taking an extra job or a different one to make more money. Do you parents have any savings? You could always lump some together for a larger initial investment.

BTW, do you feel like you just want to move out? Renting is a waaay better option than the current housing situation...I'm jettisoning my rental unit right now.

[Narayan]

Maybe look at moving farther out? Fraser Valley has some good starting points for your first home... I.e. Langley and Abbotsford.

I live in Langley and there is a new condo development going up in the heart of town that starts at around 190,000. With 5% down your mtg payment would be under $800 per month to own your own place.

You may have your heart set on Vancouver but I think there maybe better options for you?

I'm 30 make just over 70M a year and have 3 kids with my wife working part time. We own our own house and get by just fine... If anything someone in my life stage should be bitching about cost of living trying to support a family of 5 with my food bill reaching over 1000-1200 per month, kids in numeros activities etc.... hahahahha

If you're in your early 20's making 40+ a year you should be proud man... you're ahead of the curve.

[dinosaur]

How am I dealing with it?

I bitch about it and talk about moving....but I won't because there is really nowhere to go.

Such is life.

[EmperorIS]

move to the burbs get ur self a nice car and enjoy the commute

[yot065]

age 20s :'(
annual income 20K<
location east side yooo lulz
single and ready to mingle :troll:
live with my mommy :'(
investments: school for a brighter future :'(

[top_dyl]

wait it out for another few years live at home and ask daddy to put a down payment for you and pay your mortgages.

by living at home, you're essentially saving 40k every year. If you move out making 40k on a job that's like working for nothing

if your parents make 500k or so yearly before taxes, a year or two of waiting is like another million without ever really working!

[Bonka]

wait it out for another few years live at home and ask daddy to put a down payment for you and pay your mortgages.

by living at home, you're essentially saving 40k every year. If you move out making 40k on a job that's like working for nothing

if your parents make 500k or so yearly before taxes, a year or two of waiting is like another million without ever really working!

Get your own shit together first. You should be the last person to give advice in regards to finances.

Just saying :D

[Slifer]

wait it out for another few years live at home and ask daddy to put a down payment for you and pay your mortgages.

by living at home, you're essentially saving 40k every year. If you move out making 40k on a job that's like working for nothing

if your parents make 500k or so yearly before taxes, a year or two of waiting is like another million without ever really working!



:fulloffuck::seriously:

[niu99]

.

[bballguy]

^
this guy a lil' mad at asians right now...:lawl:

[Iceman-19]

Is everyone too gay to follow the formula?

Age: late 20s
Annual income: 120k+
Field of employment: Heavy duty equipment maintenance
Where do you live? Coquitlam
Single/couple/married? Single.
Renting/own? Rent a room from a friend
Investments: stocks, small tfsa saved, a bit in an rrsp.

I'm in the same boat as OP. I rent because I can't justify paying a large rent payment when I'm gone most of the month. I want to buy ASAP. Where are those condos for 190k? Might look into that when I get home next week.

To OP, not sure what field of telecoms you are in (you could sell cell phone accessories for all we know), you want a house bad, look for work up north. You could guarentee to double your current yearly wage immediately. If you want to get a head start, it's what I suggest. It's tough to fathom going back to work for real world money after though, I'll warn you now....
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[MindBomber]

Maybe look at moving farther out? Fraser Valley has some good starting points for your first home... I.e. Langley and Abbotsford.

I live in Langley and there is a new condo development going up in the heart of town that starts at around 190,000. With 5% down your mtg payment would be under $800 per month to own your own place.

You may have your heart set on Vancouver but I think there maybe better options for you?

I'm 30 make just over 70M a year and have 3 kids with my wife working part time. We own our own house and get by just fine... If anything someone in my life stage should be bitching about cost of living trying to support a family of 5 with my food bill reaching over 1000-1200 per month, kids in numeros activities etc.... hahahahha

If you're in your early 20's making 40+ a year you should be proud man... you're ahead of the curve.

Good advice.

People view Abbotsford, Langley, Surrey as some sort of major step back in life. People fixate on Newton and Whalley, and look at Surrey as a terrible place to live, not acknowledging White Rock and Morgan Creek. People seem to think living in Abbotsford or Langley would mean they're surrounded with nothing but Christians and farmers, but while the proportions are higher it's not noticeable at all. It's not the sixties, anything East of the Fraser isn't like Hope.

I live here in Abbotsford, before that Langley, I saved $400 a month on rent moving another fifteen minutes East. It doesn't bother me one bit, it's quiet at night, there's less traffic during the day and everything I could want in Vancouver is basically here, especially with the new mall coming soon. I go to Vancouver most weekends, it takes maybe 45 minutes to get DT. The majority of the time, especially as you get older, you only go out on weekends anyway.

Is everyone too gay to follow the formula?

Age: late 20s
Annual income: 120k+
Field of employment: Heavy duty equipment maintenance
Where do you live? Coquitlam
Single/couple/married? Single.
Renting/own? Rent a room from a friend
Investments: stocks, small tfsa saved, a bit in an rrsp.

I'm in the same boat as OP. I rent because I can't justify paying a large rent payment when I'm gone most of the month. I want to buy ASAP. Where are those condos for 190k? Might look into that when I get home next week.

To OP, not sure what field of telecoms you are in (you could sell cell phone accessories for all we know), you want a house bad, look for work up north. You could guarentee to double your current yearly wage immediately. If you want to get a head start, it's what I suggest. It's tough to fathom going back to work for real world money after though, I'll warn you now....
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

They're really nice actually, decent location too. You get the Langley feel, not the feel you get in the lower priced areas of Surrey.

Five minutes from the highway, Willowbrook mall, Costco and the general urban sprawl. There's a couple new condo buildings in Langley, but these are probably the best.

http://marcon.rtrk.ca/?scid=75420&kw=283366&pub_cr_id=17769827992

[hk20000]

Is everyone too gay to follow the formula?

Age: late 20s
Annual income: 120k+
Field of employment: Heavy duty equipment maintenance
Where do you live? Coquitlam
Single/couple/married? Single.
Renting/own? Rent a room from a friend
Investments: stocks, small tfsa saved, a bit in an rrsp.

I'm in the same boat as OP. I rent because I can't justify paying a large rent payment when I'm gone most of the month. I want to buy ASAP. Where are those condos for 190k? Might look into that when I get home next week.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

Condos in Surrey in 190k class are aplenty no joke. :accepted:

[Iceman-19]

Good advice.

People view Abbotsford, Langley, Surrey as some sort of major step back in life. People fixate on Newton and Whalley, and look at Surrey as a terrible place to live, not acknowledging White Rock and Morgan Creek. People seem to think living in Abbotsford or Langley would mean they're surrounded with nothing but Christians and farmers, but while the proportions are higher it's not noticeable at all. It's not the sixties, anything East of the Fraser isn't like Hope.

I live here in Abbotsford, before that Langley, I saved $400 a month on rent moving another fifteen minutes East. It doesn't bother me one bit, it's quiet at night, there's less traffic during the day and everything I could want in Vancouver is basically here, especially with the new mall coming soon. I go to Vancouver most weekends, it takes maybe 45 minutes to get DT. The majority of the time, especially as you get older, you only go out on weekends anyway.



They're really nice actually, decent location too. You get the Langley feel, not the feel you get in the lower priced areas of Surrey.

Five minutes from the highway, Willowbrook mall, Costco and the general urban sprawl. There's a couple new condo buildings in Langley, but these are probably the best.

Marcon (Langley,BC) (http://marcon.rtrk.ca/?scid=75420&kw=283366&pub_cr_id=17769827992)

Nice lookin place, of course every corner unit is sold haha.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[Slifer]

Is everyone too gay to follow the formula?

Age: late 20s
Annual income: 120k+
Field of employment: Heavy duty equipment maintenance
Where do you live? Coquitlam
Single/couple/married? Single.
Renting/own? Rent a room from a friend
Investments: stocks, small tfsa saved, a bit in an rrsp.

I'm in the same boat as OP. I rent because I can't justify paying a large rent payment when I'm gone most of the month. I want to buy ASAP. Where are those condos for 190k? Might look into that when I get home next week.

To OP, not sure what field of telecoms you are in (you could sell cell phone accessories for all we know), you want a house bad, look for work up north. You could guarentee to double your current yearly wage immediately. If you want to get a head start, it's what I suggest. It's tough to fathom going back to work for real world money after though, I'll warn you now....
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

How much are you paying for rent up at Fort Mac? I assume its fly in/fly out?

[spoon.ek9]

OP it seems like i'm in a similar situation like you except i have some funds in TFSA and RRSP.

if renting at home is what you want to get away from, then look for an affordable place to rent. there are many homeowners that rent out private suites that are part of their homes. i think this is the best compromise as you get some freedom and will continue to save a good amount.

[Iceman-19]

How much are you paying for rent up at Fort Mac? I assume its fly in/fly out?

0, I rent a room in coquitlam.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[iEatClams]

To the OP:

Why is it a bad thing to rent?
Seriously, I feel as though soo many people feel renting is bad and "wasting" money away. When property prices are soo high, I think it makes sense to rent.

Lets say you have a mortgage of $1,400 a month. The interest portion of that payment is probably $800, with $600 going to equity. You are paying $800 bucks in interest payments to the bank, and $600 is going to the principal/equity in your house. This is the same thing as paying $800 rent, and saving the $600 in a savings or investing account and earning interest on that $600.

With renting you don't have to worry about maintenance/strata fees/property taxes and that's associated with owning a property. Also not to mention the very real risk of a correction in property prices and thus having your property lose it's value.

Also if you are renting you are not tied down to specific location like you would be if you are owning a property. This helps if you get a new job or want to move to a different city etc.

If you don't want to live your parents and you want that freedom and independence, I think this is the way to go.

[TurboFC3S]

To OP, not sure what field of telecoms you are in (you could sell cell phone accessories for all we know), you want a house bad, look for work up north. You could guarentee to double your current yearly wage immediately. If you want to get a head start, it's what I suggest. It's tough to fathom going back to work for real world money after though, I'll warn you now....
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

Yep thats true.. After the first paycheque your hooked lol. Working out of towns not everybody's cup of tea though ;) I personally love it.

I suppose ill do one of these also..


Age: 23
Annual income: 50k-100k++ (Depends how the year goes)
Field of employment: Industrial union heat & frost insulator
Where do you live? surrey
Single/couple/married? couple
Renting/own? Rent a basement suite
Investments: TFSA, RRSPs, General savings account, pension

[lowside67]

Age: 25
Annual income: fluctuates a bit, around 95k + car allowance last year
Field of employment: car dealership
Where do you live? North Burnaby
Single/couple/married? Single
Renting/own? I rent a nice 1BR apartment.
Investments: I have maxed my TFSA which I am using to invest in the stock market. I also am working towards acquiring an interest in a development property in the US.

I have saved up enough money at this point for a downpayment on a place but I don't see the point of doing so right now. Financially, because I can invest my 'nest egg' and earn more than the expected rate of return on a personal home for me, renting actually earns me money.

Currently my apartment would cost around $329k to buy (1BR, 700sq ft, new building, 18th floor, nice mountain view in North Burnaby). This means that assuming I put a downpayment of $80,000 (25%) towards the property, it would cost me approximately:
$1195 monthly mortgage payment (4% rate)
$150 estimated property taxes
$210 strata fee
for round numbers, lets say $1,550/month.

However, I currently rent the apartment for $1,150. The first benefit is I save $400 per month in real cash and enjoy a great deal of flexibility - I can move whenever I feel like it, I am not responsible for any strata liabilities, etc.

With that said, there is a MUCH bigger reason to rent in my personal case which is what I could earn with the downpayment if it wasn't in my house. For round numbers, lets say I can obtain a 10% rate of return on my money with a manageable level of risk, which means that each year I am going to earn around $8000 in interest on my money which is approximately $650 per month.

By renting, I benefit financially by approximately $1,050 per month which equates to $12,600 per year.

I should point out that the math assumes that the property value stays the same which is not always the case. If the property value is appreciating then in theory the leveraging effect of a mortgage will help offset the losses each year substantially. This is obviously difficult to model, but my current sentiment is that Vancouver is more than likely to experience some retracement in residential real estate pricing and this is a big factor.

It also assumes that I am only able to do 10% on my money where in fact I am seeking returns of 20%+ while I am young since a more aggressive risk profile is suited to younger investors.

Hope that is useful information,
Mark

[CorneringArtist]

Age: 19
Annual income: ~24k/year before taxes
Field of employment: Automotive Service
Where do you live? Surrey
Single/couple/married? Single
Renting/own? Living at home
Investments: TFSA and RRSP, currently at a low investment rate.

I live at home, but I pay for monthly food and utilities as a de facto rent. I can only invest $150 a month into my TFSA and $50 a month into my RRSP because I am covering student loan and car payments, while also saving for my next apprenticeship classes. I personally would like to move out of Surrey to either Burnaby or Coquitlam for a change of scenery, but I'm probably going to be waiting until I'm at LEAST 25 before I have enough money saved up for that to happen.

[PJ]

Age: 22
Annual income: 110-150k depending on side gigs. ~70k day job + fluctuation between ~20-50k+ music royalties/producing, + ~20k small business.
Field of employment: Engineer by day, writer/songwriter/small business owner
Where do you live? East Van
Single/couple/married? Single
Renting/own? Rent paid to my mom
Investments: TFSA, RRSP, Mutal Funds, general e-savings, small business, stocks here and there

I live with my parents. I pay rent, and pay for hydro, food, cable, as well as my younger brother's bus pass and cell phone.

I was going to move out last year, but I decided to invest into more assets while I'm still young. My parents are also pretty tight on money, so I get to help them out too. I might be forced to move out soon, as my little bedroom can't contain all my music equipment and space requirements for my home business.

It really depends what your goals are.. Like a few people said, there's absolutely nothing wrong with renting. For some people, it actually makes more sense to rent.

[falcon]

When I was working full time making mid 40's last year I did all the calculations and met with a mortgage broker. It was possible to afford a place in the high 200's with 15k down. There are a bunch of condos in N. Van, White Rock, Surrey and Coquitlam I was considering.

Bro. No offense. @ 40k per year you aren't buying anything in Vancouver proper. You either have to look at the burbs or wait until you start making some decent coin... you're still young so time is on your side.

There were a few older apts. for sale off Marine Drive/ Kerr area that were only a slight bit more. Really nice area too and tons of development happenign there right now.

[StylinRed]

ive a close friend same boat as many except he has a kid on the way and a fiance @ home; he lives with his rents and doesnt have enough for his own place especially with a kid on the way

so what he and his family are doing is they're pooling their cash together and they're going to buy a larger house for the whole family (his sister is moving back from TO with 2 kids in tow)


i guess it depends if you have an issue with living @ home or if your parents have an issue with it and if there's even space for it


its either that or look to the burbs for an apartment

[J____]

Follow your goals. If your goal is to own your own place in GVRD no matter what, then i think taking on a career for the money rather doing what you enjoy is a sacrifice you have to make. On the other hand if you just want a comfortable easy job and can care less how much you make, then go that route.

Or be smart and do what all successful 20's do; move the heck out of Vancouver. Once you are rich, you can always go back.

[jasonturbo]

Age: 27
Annual income: If you average out the last 3 years, say 200k/year.
Field of employment: Oil and gas, project management, consultation, insepction services.
Where do you live? North Vancouver.
Single/couple/married? Couple
Renting/own? Rent, 1850/month, 1000sq ft 1 bedroom apartment.
Investments: TFSA and a cash trading account valued at roughly 140k, savings account and a company account.
Education: High school and some industry specific certifications that are "study on your own time" and then write the exam.

I tossed education in there as I think it relates to the concept of this thread, and would be interesting to see the relationship between educational level and empoyment income.

I split the bills with my other half, so my basic personal living expenses are about 1500/month (Rent, leased car, insurance, cell phone, cable, etc)

My corporations monthly expenses are about 500$/month:WCB, Liability Insurance, Registration, Insurance for my work truck (I own the truck), etc.

So it costs me a minimum of 3000$/month to live when you factor in food and gas, being realistic it's probably closer the 4000$ mark.

I "could" afford to buy a place... but why? The money I have made off my investments in the last 5 months has paid my rent for the last 3 years... If I owned a house, I wouldn't be able to have so much money invested... so I'm not "losing money" by renting.

Real estate is IMO severely overpriced and will revert to the mean, it never would have made it to this point if they never relaxed lending standards to give people 0 down/40 year mortgages. Now Canadians are broke, savings at an all time low, debt to income at an all time high, the main culprit is housing.

I feel like I'm poor, yet I make more money than I every thought I would. People may argue, but our generation got the shaft...

[Tapioca]

jasonturbo, lowside67, and Iceman19 are anomalies in that they make extremely good money for their age. I would say that my situation is a pretty good median (i.e. I speak for the silent majority of university-educated office drones.)

Age: 30
Annual Income: In the low 60s (full time gig in public service and part-time gig)
Field of Employment: Claims negotiations
Where do you live: Burnaby
Status: Single
Renting/own: Thanks to the Bank of Mom and Dad, they provided me with a down payment back in 2004. The value of my condo has risen roughly 130K since 2004. Even if the market tanks (up to about 40%), I'll be okay.
Investments: I have a few thousand in RRSPs and I have a TSFA which I will be using to fund my part-time graduate degree. I have equity, but being risk averse, I have not used it to grow my investment portfolio. The game-changer for me is that is if I stay with my employer for the next 20 years, I have a defined benefit pension to take care of me in old age. However, that ties me down (the golden handcuffs, so to speak) and the pension may not be there once I retire if the political pressure to eliminate benefits in public service becomes too great.

I've done a lot of thinking about the past year about my financial and career goals (I did start a thread over a year ago in the Business and Financial forum about my situation). I've applied for a Masters program which I will pursue part time. However, I've also thought about whether or not I want to stay in public service and/or possibly relocating. If I were 7-8 years younger (fresh out of my undergrad), I would have relocated (think big: NYC, London, etc.) At this point in my career development, I'm not sure if I could make the jump to something else without taking a significant pay cut. I do know that I have some intangible skills and qualities that others don't have (public speaking, charisma, and people skills), but perhaps I will have to leverage these when I'm mortgage free (in about 10-15 years.)

If I were you, I would look at relocating and forget about owning a condo. While I'm fairly lucky, I wouldn't consider condo ownership unless you have a really strong desire to gain equity. You don't actually own anything if you own a condo - you have no physical asset (i.e. land) and very little flexibility when it comes to making it your own.

One more thing - I re-read the OPs initial post and he highlighted personal development. One the best investments you can make is to join a Toastmasters club. I'm not throwing that out there as a shameless plug, but you need communication skills in anything that you do (it's particularly amazing how underdeveloped these skills are when you're out there.) There aren't many other programs out there that provide an opportunity to develop your communication skills at such a low cost (~$70-$250/year.)

[PJ]

jasonturbo, lowside67, and Iceman19 are anomalies in that they make extremely good money for their age.


I think it's more correlated between salary:career choice, as opposed to salary:age.

Not to take anything away from them, but Jasonturbo and Iceman's area of work is considered the trade industry, so I don't think their salaries are abnormal at all.

I know plenty of 19-20 year olds who went straight to BCIT for a trade after high school and started at 70-120k. Their saving habits are however.. another story.

[DsZ24]

Age: 28
Annual income: 70K
Field of employment: Trades, Electrical
Where do you live? Coquitlam
Single/couple/married? Single.
Renting/own? Own
Investments: tfsa & rrsp's

I saved up for a down payment for about 4 years and finally bought a townhouse last year. I'm debt free except for the mortgage and have some money saved up for a rainy day or an emergency fund if I ever lose my job or something like that.

I've been thinking of going to alberta for a bit to work so I can live more comfortably but haven't made any decisions yet. Still waiting to find that rich single woman that's out there haha.

[Gridlock]

wait it out for another few years live at home and ask daddy to put a down payment for you and pay your mortgages.

by living at home, you're essentially saving 40k every year. If you move out making 40k on a job that's like working for nothing

if your parents make 500k or so yearly before taxes, a year or two of waiting is like another million without ever really working!

Your posts are pure gold. Words for you are like a step inside your inner psyche, and I for one appreciate the learning that I gain from your insightful teachings.

I look forward to each and every syllable with due excitement.

Or it could be that you are a troll. Kind of a crap shoot. Perhaps you could fuck off for a while and we'll see if you are missed.

[TRDood]

You make 70M and live in Langley? I am sure it's a typo for 70k.

What type of condo are you citing for 190k? 400 sq ft studios? I don't see buying apartments in the suburbs would be a good investment, just for the sake of "owning". Apartments do not increase in value as high as detached houses. That is unless you want to strap yourself in a mortgage so that you are "forced to save".

Maybe look at moving farther out? Fraser Valley has some good starting points for your first home... I.e. Langley and Abbotsford.

I live in Langley and there is a new condo development going up in the heart of town that starts at around 190,000. With 5% down your mtg payment would be under $800 per month to own your own place.

You may have your heart set on Vancouver but I think there maybe better options for you?

I'm 30 make just over 70M a year and have 3 kids with my wife working part time. We own our own house and get by just fine... If anything someone in my life stage should be bitching about cost of living trying to support a family of 5 with my food bill reaching over 1000-1200 per month, kids in numeros activities etc.... hahahahha

If you're in your early 20's making 40+ a year you should be proud man... you're ahead of the curve.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[dovo]

I had help from my parents put down good amount of down pay and i'm paying off my mortgage going to school and working part time. its rough.. but good to know that I have my own place. Actually renting the place out and I live at home.

But a place in Maple Ridge area or pitt meadows even. IF that stupid greenline is ever built, the price will surely go up. Good investment..

AND damn everyone makes good money! I'm in my late 20s, i feel like i need to step up my game in my life big time

[Everymans]

This thread reminds me how poor and hopeless I am. Here it goes.

Age: 21
Annual income: 20,000$
Field of employment: floral industry.
Where do you live? Vancouver/mount pleasant area
Single/couple/married? Single.
Renting/own? Renting a basement suite with a roomate. 550$.
Investments: 100$ in a tfsa.
Education:Film school....

I live paycheck to paycheck and I often max out my credit card each month only to pay half of it off. I'd like to get more involved in courier work, but the pay isn't ideal. My major plan is to move back home with my parents(northern alberta), get cheap rent and work construction. I did that two summers ago and I made 30,000$ in 6 months. Although I love this city, I need to get a master plan and stop this aimless lifestyle. But then again, I'm 21, this aimless lifestyle is quite enjoyable.

[Nechako87]

Age: 27
Annual income: If you average out the last 3 years, say 200k/year.
Field of employment: Oil and gas, project management, consultation, insepction services.
Where do you live? North Vancouver.
Single/couple/married? Couple
Renting/own? Rent, 1850/month, 1000sq ft 1 bedroom apartment.
Investments: TFSA and a cash trading account valued at roughly 140k, savings account and a company account.
Education: High school and some industry specific certifications that are "study on your own time" and then write the exam.

I tossed education in there as I think it relates to the concept of this thread, and would be interesting to see the relationship between educational level and empoyment income.

I split the bills with my other half, so my basic personal living expenses are about 1500/month (Rent, leased car, insurance, cell phone, cable, etc)

My corporations monthly expenses are about 500$/month:WCB, Liability Insurance, Registration, Insurance for my work truck (I own the truck), etc.

So it costs me a minimum of 3000$/month to live when you factor in food and gas, being realistic it's probably closer the 4000$ mark.

I "could" afford to buy a place... but why? The money I have made off my investments in the last 5 months has paid my rent for the last 3 years... If I owned a house, I wouldn't be able to have so much money invested... so I'm not "losing money" by renting.

Real estate is IMO severely overpriced and will revert to the mean, it never would have made it to this point if they never relaxed lending standards to give people 0 down/40 year mortgages. Now Canadians are broke, savings at an all time low, debt to income at an all time high, the main culprit is housing.

I feel like I'm poor, yet I make more money than I every thought I would. People may argue, but our generation got the shaft...

Hey Jason

You got your PMP? Do you work for yourself, or a larger company?

[Preemo]

Age: 28
Annual income: $70K
Field of employment: Web Development
Where do you live? Edmonton
Single/couple/married? Couple
Renting/own? Renting @ $1400 downtown apt
Investments: RRSP

Really wish I wasn't a fuck off in high school and really put my nose to the book grinder instead. Had to leave Vancouver because there is so much competition in my line of work so I moved my family to Edmonton. Ghastly city. All depressed and shit. Looking at the housing market for my family's future, it looks like I will be buying a house here instead of Vancouver. Damn you $$$!!!!!

[Iceman-19]

I think it's more correlated between salary:career choice, as opposed to salary:age.

Not to take anything away from them, but Jasonturbo and Iceman's area of work is considered the trade industry, so I don't think their salaries are abnormal at all.

I know plenty of 19-20 year olds who went straight to BCIT for a trade after high school and started at 70-120k. Their saving habits are however.. another story.

We are not an anomaly at all. There are 100,000 other people up in the area we work making a minimum of 70+k a year, with the majority making 95-100k+. Everyone I work with makes the same as I do or more. The messed up thing is, you don't even need a high school diploma or any real skills to get the job I do. I know a lot of people up here are working to pay off their huge student loan debts. They are driving a truck or running equipment, not working in their field they went to school for.

As for saving habits, I have to agree with your trail off, haha. I am just turning mine around.

[Iceman-19]

I am actually happy this thread was started. It has changed my mind on trying to buy a condo. I still kinda wouldn't mind a house or a townhouse, but I think I'll wait until I meet someone and we figure out where we want to live.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[top_dyl]

Your posts are pure gold. Words for you are like a step inside your inner psyche, and I for one appreciate the learning that I gain from your insightful teachings.

I look forward to each and every syllable with due excitement.

Or it could be that you are a troll. Kind of a crap shoot. Perhaps you could fuck off for a while and we'll see if you are missed.

im just saying live at home so you live with no expenses unless you're getting married or something. i work a trades too my money doesn't come that easy either

[LIKEABOSS]

I will probably get flamed for this because my view of Vancouver being expensive is the opposite of most people here.

I personally don't think living in Vancouver is expensive at all, especially when considering all the intangibles you get (ie. mountain views, beautiful sea-wall, ocean air, dense-mixe use-urban planning, great food etc). This is why I refuse to live in the suburbs, regardless of the "discount."

The main reason why people think living in Vancouver is expensive is because of the cost of buying a home. But one must consider at least two things. One, Vancouver is in a huge housing bubble, and in my estimation it is the second largest housing bubble in the world after China. Second, why this obsession over "owning" a home? I think people need to get over this psychological barrier and understand that what you are looking for is really utility, that is a roof over your head. Right now, renting in Vancouver is a steal imo. My family has been in the real estate business for over 10 years now and we would be operating at a loss if we had a mortgage on our properties. There has been so much building in the last decade that the rental market (as an investment) is a joke.

To put into perspective, there is one unit we are renting which is a one bedroom suite in a newer house right by the skytrain station for only 700 bucks! And that includes electricity/heating/internet/laundry/cable! The unit is rented to a young couple from HK atm and that means it only cost them 350 each to live in a nice new home, in one of the nicest cities in the world! If that's not a steal I don't know what is.

I also intend to be buying my own house in Vancouver in the future (after the market corrects of course) and atm I have all my money invested and working hard for me. I refuse to be like all the other sheeple desperate to buy with next-to-nothing-down in one of the last remaining housing bubble markets. :D

PS. Although I love driving, I take public transit most of the time and only drive for pleasure and this has saved me huge amounts of money every year which I plow back into my investments-helping me make more money. :D

[LiquidTurbo]

^ Finally, some sense!!!

[pinn3r]

PS. Although I love driving, I take public transit most of the time and only drive for pleasure and this has saved me huge amounts of money every year which I plow back into my investments-helping me make more money. :D

awesome stuff; building pipelines for yourself that keeps pumping residual income
the rich person builds assets; the broke person works for a paycheck :lawl:





... :okay:

[sh0n]

EDIT

[asian_XL]

Age: late 20s
Annual income: 60k after income tax
Field of employment: Bank and insurance
Where do you live? HK
Single/couple/married? Engaged
Renting/own? Owned by fiancé, no mortgage
Investments: 60% of saving in stocks, 20% term deposit

What is wrong with living with ur parents? It is a trend these yrs and I see more people are doing it. I moved out and moved back to my parents place several times in my mid 20s, during the time I lived with them I found my life was actually happier, regardless how much money I could save there. Maybe I was born in an Asian family, taking care the elderly is a must.

Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[PJ]

What is wrong with living with ur parents? It is a trend these yrs and I see more people are doing it. I moved out and moved back to my parents place several times in my mid 20s, during the time I lived with them I found my life was actually happier, regardless how much money I could save there. Maybe I was born in an Asian family, taking care the elderly is a must.


Nothing's wrong with living with your parents.. to a certain extent. It all depends on your situation.

I'm making about 3x more than what both my parents make combined, and I live at home. They're pretty tight on cash, especially with my younger brother still in high school. I'm still living at home so I can help out by paying them rent, as well as their bills, groceries, and my younger brother's expenses.

But like I said a few posts above, my little bedroom can't accommodate my space requirements for my business and side projects, so we're throwing around the idea of getting a foreign exchange student to take my bedroom as I move out into a condo. But I'd probably still give them a few hundred bucks a month to help out with their expenses.

[Volvoman]

With some banks offering a 2.99% fixed mortgage rate right now, it may be a good time to buy. My advice? Buy a condo/townhouse in South Surrey, Langley or the Steveston area in Richmond. Vancouver is too expensive to own, especially when neighboring cities are only minutes away.

Also OP, you are me 7 years ago. I was in my 20's, graduated from BCIT in Telecommunications, making just about 40k a year and living at home. Save money, save it like no tomorrow. Once you have a mortgage and other things that come with home ownership, you will wish you had more money at the end of the month.

[jasonturbo]

With some banks offering a 2.99% fixed mortgage rate right now, it may be a good time to buy. My advice? Buy a condo/townhouse in South Surrey, Langley or the Steveston area in Richmond. Vancouver is too expensive to own, especially when neighboring cities are only minutes away.

Also OP, you are me 7 years ago. I was in my 20's, graduated from BCIT in Telecommunications, making just about 40k a year and living at home. Save money, save it like no tomorrow. Once you have a mortgage and other things that come with home ownership, you will wish you had more money at the end of the month.

If you're talking about RBC's 4 year or BMO's 5 year fixed @ 2.99%, forget it.

They have both been turfed, RBC is now 3.39% 4 year and BMO is 3.49% 5 year.

Oddly enough both banks cancelled the 2.99% immediately after CMHC made the anouncement that they were near their max... I guess the banks don't like risk.. when they actually have to assume some of it. (Espcecially when the BOC hasn't changed the prime rate.)

On top of that, if you look at the fine print of these mortgages, for instance the BMO you would notice that: (Stolen from a website to save me time lol..)

"The 2.99% rate is an excellent lure into an inflexible mortgage; here are the key restrictions that home-owners may unknowingly be locking themselves into…

There are hefty penalty clauses (It's also non-transferable)
The maximum amortization is only 25 years
It is somewhat restrictive with its prepayments – only 10% prepayment per year and it only increases 10% of your prepayment per year
Here is what BMO themselves have said about their product – "Full repayment before maturity can only occur if property is sold to an unrelated purchaser at fair market value or if the mortgage is renewed or refinanced into another BMO mortgage product.”

[Over9K]

Age: 34
Annual income: Around $24k "ish"
Field of employment: Junkyard Reaper
Where do you live? Aldergrove
Single/couple/married? Single
Renting/own? Own
Investments: My big pile of pre Ghosn era Nissans.


Got more than enough.

[asian_XL]

Nothing's wrong with living with your parents.. to a certain extent. It all depends on your situation.

I'm making about 3x more than what both my parents make combined, and I live at home. They're pretty tight on cash, especially with my younger brother still in high school. I'm still living at home so I can help out by paying them rent, as well as their bills, groceries, and my younger brother's expenses.

But like I said a few posts above, my little bedroom can't accommodate my space requirements for my business and side projects, so we're throwing around the idea of getting a foreign exchange student to take my bedroom as I move out into a condo. But I'd probably still give them a few hundred bucks a month to help out with their expenses.

For my situation, I used to live in a 3500sqft house with my parents, then moved to a 950sqft apartment, later packed my stuff to Hong Kong staying at my parents' 900sqft (merely 100sqft for my own little room), rented a 700sqft space for 2 yrs and moved back home, now living with my gf at a 500sqft with 2x4ft Ikea work desk as my personal area. Average rent here for a 2 bedroom here is around $2,000cdn, that is way more than the 1:3 rent/income rule, so I gave up the idea renting or owning a suite, even though I have excessive cash with me.

There's no reason to force yourself to move out and carry such a heavy burden if you cannot afford to do so. What goes up must come down, especially when majority of the population afforability level is at the borderline. Just wait a bit longer for the price to settle. For now just save up like no one, and gave up all the car modding plans or buying a large TV.

[Death2Theft]

Whats this prepayment stuff all about?
If you're talking about RBC's 4 year or BMO's 5 year fixed @ 2.99%, forget it.

They have both been turfed, RBC is now 3.39% 4 year and BMO is 3.49% 5 year.

Oddly enough both banks cancelled the 2.99% immediately after CMHC made the anouncement that they were near their max... I guess the banks don't like risk.. when they actually have to assume some of it. (Espcecially when the BOC hasn't changed the prime rate.)

On top of that, if you look at the fine print of these mortgages, for instance the BMO you would notice that: (Stolen from a website to save me time lol..)

"The 2.99% rate is an excellent lure into an inflexible mortgage; here are the key restrictions that home-owners may unknowingly be locking themselves into…

There are hefty penalty clauses (It's also non-transferable)
The maximum amortization is only 25 years
It is somewhat restrictive with its prepayments – only 10% prepayment per year and it only increases 10% of your prepayment per year
Here is what BMO themselves have said about their product – "Full repayment before maturity can only occur if property is sold to an unrelated purchaser at fair market value or if the mortgage is renewed or refinanced into another BMO mortgage product.”

[Jermyzy]

With some banks offering a 2.99% fixed mortgage rate right now, it may be a good time to buy. My advice? Buy a condo/townhouse in South Surrey, Langley or the Steveston area in Richmond. Vancouver is too expensive to own, especially when neighboring cities are only minutes away.
.

Steveston is getting quite expensive as well

Whats this prepayment stuff all about?

I believe prepayment is when you try to make early lump sump payments towards your mortgage principal amount.

[Acura604]

Age: 41
Annual income: $100K +
Field of employment: Sales & Management
Where do you live? Surrey
Single/couple/married? Married with KID!
Renting/own? Own - 7bdrm home
Investments: all sorts

while i'm not a big fan of living in surrey, it was ideal for my childsitting purposes as we are located in the middle of both parents who come to our home to watch our little munchkin. The house is brand new (completed in 2009) with a rented 2-bdrm suite (legal) in basement which offsets our mortgage by about $700. However, 5yr plan is to move away to eliminate all bridge crossings..so most likely into Burnaby. Dual income/savings greatly helped in putting down 20% on a $615,000 home... BUT we started small to big.

-owned a 700sq ft 2bedroom condo in Surrey...sold it.
-purchased a townhouse in BBY's TERRAMOR (government st) and sold it after a year.
-purchased a townhouse in North Delta's SUNSTONE (nordel) and sold it after a year.
-went house shopping and wife fell in love with the present house so we got it.

[Supafly]

Age: 26
Annual income: $50K+
Field of employment: Food Science/Engineering Consulting
Where do you live? Burnaby
Single/couple/married? Single
Renting/own? Renting (1200/month)
Investments: My bank draining Benz

Well, where do i start? As living cost rises, I started prioritizing what I really needed to survive comfortably. Learned to cook, clean and fend for myself instead of going out to eat luxrious dinners weekly with randoms and aquaitences; Cut out clubbing every week and killed off the drinking binges. Slimming down your group of friends to a "closer group" of friends that are in the same category helps aswell.
Picking up a second PT job is a good way to keep a bit of "play" money.

Working as a consultant isn't always the best feild to be in; sometimes your account is inflated and you got butterflies in your stomach and the next month you're calling out to see if corporate companies need to revise and develop their SOPs.

[Pooface55]

not to say that buying property is a bad idea... but consider this; i am renting and pay about 1400 for rent, my internet hydro etc... and i save a lot
on the side.

now if i were to purchase a home, that money would actually go somewhere, which is great. but the bad thing is, is i were to own a place, i would have to pay for maintenance e.g. like say, something were to break like a pipe, wires in the wall etc... it's all covered in renting(and if you have a great apartment manager, like i do, then it's taken care of really quickly.)

on top of that, you will pay property tax, water, heat(renting usually includes hot water and heat)... so yeah... take those into considering as well, because you're NOT just paying for the house. sometimes your monthly fee's to maintain the house yearly, might be the cost of renting a cheaper place sometimes.

i have a few friends who purchased condo's and say they live beside complete assholes... at least, if you have a home, you have space and if you were to rent, you could move.

again, not saying it's a bad thing to purchase a home. just saying you have to consider a lot of things before really going into it. :)

[melloman]

I'll play too:

Age: 22
Annual income: $50k+
Field of employment: Drafting/Engineering
Where do you live? Burnaby
Single/couple/married? Single
Renting/own? Living with parents
Investments: TFSA + Savings
Education: 1 year certificate VCC

OP: We're partially the same, yet I don't have to pay rent to my parents while living at home and I make abit more $$/year. Yet we're in the same boat for wanting to own young.

There are tons of ways to help grow income and work to owning.. I'm not sure if your parents can help or not yet 1 thing which has been told to me by many people is getting a "loan from your parents." Now before all u assholes flame me I say it for this:

Getting a loan from the parents can help you buy. Once you buy, you rent it out until you have a more suitable means of income. This means that someone has been paying your mortgage and your going to have not such a full load to pay off in the end.


Another means is Stocks. Like someone said before, you're young.. you can gamble. With a higher risk portfolio you can earn alot of money, and lose ALOT of money. Yet by researching and making the right choices, $1000 can turn into $10000 within a year. I don't have personal experience but I am reading up on medium size companies to start investing in to HOPEFULLY make a nice size chunk of change for a down payment in Burnaby/New Westminster.

[d1]

Just curious about trades line of work but are trades people who are earning relatively high incomes making that much because of a lot of over-time work or is their hourly wage just really high?

[What_the?]

Yea, i'm in the same boat where I feel like i'm making decent money, but at the same time feel like I can't afford anything in Vancouver either. At least not what I'd like.

The cost of "living" isn't super high I think (i.e. clothing, food, etc), but the cost of housing is pretty bad.

Plan is to continue saving, then purchase a 2 bdrm apartment to start with the gf. Then some years down the road when more space is needed for kids and things to purchase a house. The usual standard upgrade.

I've totally thought of moving to places like Victoria which I think are beautiful but cheaper, but the girlfriend is bound to Vancouver for now with work. So we're stuck. I'd say if you have a chance, consider somewhere like Victoria, or any other small town. If you are attached to Vancouver, just go somewhere outside but reasonably close by. Then you can come visit on weekends and still keep in touch with friends and family. I have friends that do exactly that.

[blum2001]

Age: 30
Annual income: 90-100k including salary + contract jobs
Field of employment: I.T.
Where do you live? Yaletown
Single/couple/married? in a relationship.
Renting/own? Principal place of residence mortgage $1100/month, $200/month strata + usual utilities
Investments: Stocks, RRSP's, couple self sustaining rental properties in Downtown and Burnaby rented fully furnished and unfurnished


The best decision I ever made at the age of 19-20 was to put away 50-70% of my paycheck for 3 years. It was tough having enough discipline to resist the urge of buying new toys, electronics, or spending money on things I didn’t need. When you’re making 40-50k/year living with the parents with only a cell phone bill to pay for, it’s easy to waste your own money. 3 years of saving allowed me to have enough for my down payment on my first real estate investment.

I'm sitting on the other side of the fence compared to a lot of people here. I’ll fully admit, I had it easier than most here trying to purchase a property because in 2004 my purchase price of my first property was about 40-43% less than what I could sell for now. If I was trying to get into the game now with these prices, I think i'd have a totally different approach to it. What would that approach be? I have no idea, but I do know I'd have to work a lot harder to get into the real estate market whether it's pick up more contracts or invest more wisely.


not to say that buying property is a bad idea... but consider this; i am renting and pay about 1400 for rent, my internet hydro etc... and i save a lot
on the side.

now if i were to purchase a home, that money would actually go somewhere, which is great. but the bad thing is, is i were to own a place, i would have to pay for maintenance e.g. like say, something were to break like a pipe, wires in the wall etc... it's all covered in renting(and if you have a great apartment manager, like i do, then it's taken care of really quickly.)

on top of that, you will pay property tax, water, heat(renting usually includes hot water and heat)... so yeah... take those into considering as well, because you're NOT just paying for the house. sometimes your monthly fee's to maintain the house yearly, might be the cost of renting a cheaper place sometimes.

i have a few friends who purchased condo's and say they live beside complete assholes... at least, if you have a home, you have space and if you were to rent, you could move.

again, not saying it's a bad thing to purchase a home. just saying you have to consider a lot of things before really going into it. :)

I agree with you on the fact that it's cheaper to rent since you don't have to pay the property tax, strata and things that go along with owning a place. The flexibility of moving out whenever you want is ideal. I've had huge problems with my next door neighbor who also owns and sometimes I do wish I could just move as easily as a renter. But the landlord part of me also loves the fact that my renters are paying for my mortgages on my rental properties...

To the people who are trying to get into the market now and succeed on your own I give you full respect for doing because it's a LOT tougher than when I got in.

[ScizzMoney]

Age: 29
Annual income: 130k+
Field of employment: Oil Field
Where do you live? Fort McMurray / Calgary
Single/couple/married? Single
Renting/own? Rent a room in Fort McMurray
Investments: TFSA, RRSP, Pension, general savings account, Townhouse in which I rent out

Nothing comes easy. If you want to make good money or have a nest egg in your back pocket you have to be prepared to sacrifice. I have pretty much gave up my mid to late twenties working. And I mean working. I have friends that I haven't seen in a few years and even ruined a relationship because I was working so much. The sooner I realized not everyone gets to 'have it all' the faster I started to set myself up for the rest of my life, financially.

Want a house? Stay away from shit that won't help you get there like a 64gb iPhone. Want a nice car? Don't buy $300.00 shoes with your 30k a year salary. I'm not saying don't treat yourself, but make sure it's not overboard to what you are trying to achieve.

[AWDTurboLuvr]

Age: 31
Annual income: 80K Salary + 25K net rental income
Field of employment: Animation
Where do you live? Richmond
Single/couple/married? Married
Renting/own? Own, 3-bdrm condo, $1200/mth + $355 strata
Investments: Equities account, RRSP, two rental properties (Kerrisdale & Richmond)

I was in the same situation as Blum2001 was in that I bought my first couple of properties when it was considerably cheaper that what it is now.

However, if I was in my early 20's in today's market, I would either rent or stay at home to save more cash...and more than likely, move somewhere else for greater opportunities. Staying at home when I was young and making good money, was the perfect situation to save as much money as possible. I have to thank my Dad for instilling such a conservative saving attitude, because when you're young and you have some money lying around, it really is tempting to just buy that fancy car or in some other wasteful consumerist fashion.

[will068]

Age: 29
Annual income: 70k
Field of employment: Software Industry
Where do you live? Richmond
Single/couple/married? In a relationship
Renting/own? Rent
Investments: Stocks and Options

Most of my money is allocated for buying options and stocks. I guess you could say I am a part time options trader as well. This is what is getting me out of the rat race. Last year, I made $250K tax free (since the I traded under my US RRSP account) from my options trading alone. I urge everyone to invest in their financial education and trade on their own.

[JHatta]

How do you get a US RRSP....?

[Liquid_o2]

My situation is a bit different since I was working full-time for quite a few years and now just went back to school for my Masters. I graduated at 23 and started making 40k a year as a professional which was great at that age, especially since I was living at home. By the time I was 26 I had maxed out my TFSA and had money in quite a few other savings accounts. Was planning on buying my first condo if I didn't go back to school. BUT, I did and am definitely happy with the path I chose, unfortunately even with a student loan, all my savings are going to school, rent, living expenses etc.

I'll come out of the program with all my savings drained and a student loan but I'll be in a really good position moving forward. Not sure if I will come back to Metro Vancouver other than the fact that my old job wants me back (and my family is there), but only if it was at the right price.

Before I left for school:

Age: 26
Annual income: 45k
Field of employment: Urban Planning
Where do you live? Surrey
Single/couple/married? Single
Renting/own? Lived at home
Investments: TFSA (maxed), other savings accounts, stocks

Now in school (Toronto):

Age: 27
Annual income: 0
Field of employment: Urban Planning
Where do you live? Toronto
Single/couple/married? Single
Renting/own? Rent 1 bedroom (600sf) at $1050/month
Investments: Savings accounts (slowly disappearing)

People should definitely think about moving out of Metro Vancouver if they want to find better work. I know at least in my field, you can get paid 15-20% more as soon as you go east, whether it be Alberta, Saskatchewan, Ontario, and the positions are more plentiful.

Vancouver is an absolutely beautiful city with amazing food but it is completely unsustainable to live in for the majority of society.

[JKam]

Age: 23
Annual income: 40k
Field of employment: marketing communications
Where do you live? BBY/ Surrey
Single/couple/married? Serious relationship
Renting/own? live with family
Investments: maxed tfsa, some RRSP, high interest savings accounts

I've saved enough for a down payment but it doesn't make sense for me to buy now when I can keep saving and wait for the market to correct itself. The only issue is that I'm looking to get married in 5-7 years so I'd much rather have a place to call my own. I'm lucky that I might get help from my parents who want to co-own with me even though they will be living with my sister, brother and in asia each for 3 months.

If that doesn't work out my plan is to save until the housing market corrects itself. Right now I'm living at home on the weekends and at my sister's place during workdays (closer to work). I've cut out most of the money hungry habits (clubbing, dining out) and I'm slowly cutting back on the other hobbies (electronics, aquarium, photography). Stopped going on dates that require money and I have almost no expenses except for food and phone. I'm also lucky that work pays for my gas and the gf's brother in law is a Honda Tech so I get my maintenance for free. I don't care for living in Vancouver nor do I care about views. As long as I am in a metro area close to family (Burnaby, Richmond, Burquitlam area) I'm happy.

Also waiting until the girlfriend starts making money for me to plan out the future more accurately. I'm hoping that by that time I'll be making 80k + 80k from what the gf makes. Ideally we'll purchase a condo and live there until a baby comes along. Purchase a home (after market corrects) in Burnaby or Richmond and rent out the condo. Live happily ever after.

So I'm basically saving 30%ish of income while living at home and praying that the housing market corrects itself.

I'm also teaching the gf how much it actually costs to live and how we can't spend money on stupid shit. She's slowly getting it and trying to reduce her (small) education debt + save for future. Best part is that she isn't one of those money hungry bitches.

[PJ]

Just curious about trades line of work but are trades people who are earning relatively high incomes making that much because of a lot of over-time work or is their hourly wage just really high?

Depends on the trade.. I have a family friend who's 22, making $39/hour as an electrician. Another one of my close friends is a plumber and makes around $28/hour.

I'm also teaching the gf how much it actually costs to live and how we can't spend money on stupid shit. She's slowly getting it and trying to reduce her (small) education debt + save for future. Best part is that she isn't one of those money hungry bitches.

I'm working on this too.. My girlfriend isn't money hungry per se, but she buys a LOT of stuff she doesn't need. I'm trying to get it through her head, but haven't had much success.. :rukidding:

[DsZ24]

Just curious about trades line of work but are trades people who are earning relatively high incomes making that much because of a lot of over-time work or is their hourly wage just really high?

Once you become a journeyman in certain trades you can make pretty good money. From what I see with alot of companies in the lower mainland there isn't much overtime. Alberta is the place to be to make the big bucks with loads of overtime.

[asian_XL]

last time I heard Canadian average individual annual income is slightly below 40K a year.
It seems all RSers are ballers.


I'm also teaching the gf how much it actually costs to live and how we can't spend money on stupid shit. She's slowly getting it and trying to reduce her (small) education debt + save for future. Best part is that she isn't one of those money hungry bitches.

If she's in her early 20s, then it's okay. My fiance, late 20s, still don't get that we need to save up more than we spend on silly shit. I hate what girls like to say "we are still young, enjoy your life as you can."

[conflagrare]

last time I heard Canadian average individual annual income is slightly below 40K a year.
It seems all RSers are ballers.


maybe a bit. But it's probably more likely the poorer ones are not speaking up.

[Jegz]

Why the fuck is everyone so BALLING here

[Over9K]

^^ Yea, I was gonna say that too...

I guess it must be an asian thing.

Seriously, how are some of you 20 year olds making so much? When I was in my early twenties I took Mechanical Engineering and that shit got me NOWHERE.

[quasi]

Once you become a journeyman in certain trades you can make pretty good money. From what I see with alot of companies in the lower mainland there isn't much overtime. Alberta is the place to be to make the big bucks with loads of overtime.

Saskatchewan is boom right now. Pot Ash, Oil and Construction all going hard.

[accordpoop]

Age: 32
Annual income: 60k
Field of employment: automotive
Where do you live: Surrey
Single/married/couple: serious relationship
Rent/own: own
Investment: Tfsa, rrsp and Csb.

I wish I could've started earlier in my 20s with the investments and my career but I'm content/happy with my life. But if I pinched my pennies in my 20s I would have totally missed out in all the great experiences and the crazy fun times that I've been through. :toot:

[penner2k]

Once you become a journeyman in certain trades you can make pretty good money. From what I see with alot of companies in the lower mainland there isn't much overtime. Alberta is the place to be to make the big bucks with loads of overtime.

The other thing with getting to journeyman is some companies will let you contract... = less taxes

contract pipefitter with my company is making $53.50 hr regular time and $79.50 overtime..

I doubt you can do that in BC though..

[604nguyen]

Age: 27
Annual income: currently 0k :okay:
Field of employment: electrician
Where do you live? coquitlam
Single/couple/married? couple
Renting/own? Own
Investments:tfsa, rrsp

as a journeyman...the money can be really good ...but the job market has been real slow (atleast for me) , hopefully things will pick up....make sure you guys save your money for a rainy day

[E-40six]

Why the fuck is everyone so BALLING here


Its only the ballers posting in here, you won't see some guy coming out saying he's 25 and making 15-20k and live at home

[quasi]

Age: 27
Annual income: currently 0k :okay:
Field of employment: electrician
Where do you live? coquitlam
Single/couple/married? couple
Renting/own? Own
Investments:tfsa, rrsp

as a journeyman...the money can be really good money...but the job market has been real slow (atleast for me) , hopefully things will pick up....make sure you guys save your money for a rainy day


I estimate for a company here, every job I bid there is 8-15 general contractors (not all I bid). Then within those generals I'll compete against another 10-20 subs, getting jobs is so hard.

My dad is in Regina right now. He's only bidding large jobs like Hospitals, schools, police stations, high rises and things like that. Usually 2-3 Generals and 2-3 subs. The problem isn't getting work it's finding guys to work for you.

[Iceman-19]

I bet there are Asian kids that get more in a month for allowance then I make in 6. I could afford payments on a Ferrari or a Lamborghini, but then I would have to live at home rent free.


Hmm wait a second......
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[dat_steve]

http://redditmeme.com/img/aww/its-okay-bro/its-okay-bro.jpg

a lot of it is discipline and actively taking time out of your day to enjoy the small things.

[MindBomber]

Its only the ballers posting in here, you won't see some guy coming out saying he's 25 and making 15-20k and live at home

Revscene isn't the typical import forum, consider that.

If this were a Civic forum, I'm certain that not only would this thread not have progressed, but there would be many people with very low incomes and directionless lives. The people fitting that description who join Revscene do not stick around, in part because as a community we shun them, but also because we tend to discuss issues with more gravity than drift sluts and whether to buy Rota or XXR wheels. Think about it, I can't honestly think of a member who isn't either a student or professional of some degree.

Age: 24
Annual Income: Currently, 20k. Formerly, 90k.
Field of Employment: Currently, student. Formerly, construction foreman.
Where do you live: Abbotsford.
Single/Couple/Married: Single.
Renting/Owning: Renting.
Investment: TFSA, stocks, silver.

How do I get by?
I don't buy into the disposable materialistic practices than seem to define our society, especially younger generations. I don't own multiple pairs of trendy $300 jeans, I've listened to the same Ipod while studying since high school, and I don't go to Starbucks everyday. I don't need to spend money to be entertained, there are countless enjoyable free activities. I also live outside Vancouver, and can say, my rent is a full $1000 less a month than the average in this thread as a result. It means I drive 45 minutes to campus, but trips into Vancouver aren't that long of a drive on weekends since there's very little traffic.

My income dropped like a stone, but I'm twice as happy now as I was then.

[Tapioca]

As expected, only the high income earners have posted here. I have friends who make mid-6 figures, but I also have friends who make 40K.

I firmly believe that my post most accurately reflects the career progression of most university office drones.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[bcrdukes]

There's also a lot of ballers on Revscene who aren't going to just blatantly post publicly what they make.

[Tapioca]

There's also a lot of ballers on Revscene who aren't going to just blatantly post publicly what they make.

bcrdukes is one of them.

[bcrdukes]

^
Yeah right.

[LiquidTurbo]

^^ Yea, I was gonna say that too...

I guess it must be an asian thing.

Seriously, how are some of you 20 year olds making so much? When I was in my early twenties I took Mechanical Engineering and that shit got me NOWHERE.

What do you do now?

[Meowjin]

Age: 25
Annual Income: ~20, formally... enough
Field of Employment: Currently, student, Grinded 2 jobs prior
Where do you live: Richmond
Single/Couple/Married: Single.
Renting/Owning: Renting.
Investment: looooooooooooooooooooooooooooooooooooooooooooooooo oooooooooool

right now im contemplating whether or not to say fuck school, go to bcit take a trade course and fuck off to alberta/sask to get my hours + make money.

I want a god damn skill so i can leave this fucking country hellhole piece city shitty weather depressing fuck damn shit

My goal is to move to singapore or socal.

[Iceman-19]

Many won't say because they can't legally say how they make their incomes.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[Klobbersaurus]

Age: 25
Annual Income: ~20, formally... enough
Field of Employment: Currently, student, Grinded 2 jobs prior
Where do you live: Richmond
Single/Couple/Married: Single.
Renting/Owning: Renting.
Investment: looooooooooooooooooooooooooooooooooooooooooooooooo oooooooooool

right now im contemplating whether or not to say fuck school, go to bcit take a trade course and fuck off to alberta/sask to get my hours + make money.

I want a god damn skill so i can leave this fucking country hellhole piece city shitty weather depressing fuck damn shit

My goal is to move to singapore or socal.

forget the school, just move there and take up a trade you might be interested in, they will train you, im about to pack up and move to alberta for a change in career to become an electrician, my cousin just moved to grand praire and he took an electrican course prior and everything hes learned, he isnt putting to use, they are re-training him

[Meowjin]

forget the school, just move there and take up a trade you might be interested in, they will train you, im about to pack up and move to alberta for a change in career to become an electrician

im waiting till i get accepted to a nursing program. the 6 months i have free (because i get accepted in january for september semester) will be the deciding factor if i want to go back to school, and since i have a few connections in oil industry (friends have dads that are ceo's of drilling companies, or have positions in some pretty tropical places) im going to work that 6 months.

I'm a grinder/hard worker. I've worked since i was 14 and have worked 12 hour days from 19-24 6 days a week.

I'll do any trade as long as it's a skill.

The argument right now is do I want to start making money now but have to get dirty, or make money in the future and have a guaranteed position anywhere in the world, and have an easier life.

also fuck school somedays. How is learning ecology have any relation to becoming a fucking nurse?

fucking shit.

[asian_XL]

Unless you are :alone:, it will be interesting to know and share what's your SO or total household annual income. It's sad to see girls these days can make more than guys

[Meowjin]

Unless you are :alone:, it will be interesting to know and share what's your SO or total household annual income. It's sad to see girls these days can make more than guys

girls in general are huge fucking jewbags and try to act like they have the income of a 12 year old, while laughing at you and calling you a poor ass for not paying for dinner.

fuck women.

[jack_dangerous]

Age: 23
Annual Income: 30k
Field of Employment: 2nd year HD Apprentice
Where do you live: Coquitlam
Single/Couple/Married: Single
Renting/Owning: live at home
Investment:nooooooooope

Trying to save up to buy a place, but that's not really working out. I spend what I make mostly on tools and equipment for work. The rest towards bills, my car and going out once in a while.


To the guys working out of town, how did you get started in the industry? Did you just pack up, move north and find a job when you get there or were you able to secure a job before moving? I'm very interested in working out of town but don't know where to start,any pointers would be greatly appreciated.

[Iceman-19]

Jesus, 30k a yr as a 2nd year? A 1st year I work with made over 150k last year. He worked lots of OT though. I heard Shell was offering a 50k signing bonus to 2nd year hd and up mechanics. They are up at kearl. I applied while I was living in Calgary.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[NLY]

Many won't say because they can't legally say how they make their incomes.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

bingo

[ForbiddenX]

Age: 20
Annual income: mid 40s
Field of employment: Software Developer (mobile games and webapps)
Where do you live? South Vancouver.
Single/couple/married? Couple
Renting/own? Living at home, not paying rent
Investments: Starting my savings account

Right now I'm trying to get into the habit of saving my money. I was never a good saver and was a lot better a spending my money. I used to work part time (weekends and inbetween sems) while I went to school at BCIT. All that money usually went to was gas, video games, food, and electronics. I didn't really consider saving any of it since at the time I thought that it was impossible due to how small my income was (probably around 2-300/paycheck) but I definitely could've cut back a lot and put that money towards something else.

I'm working as a mobile developer now and I've been getting some steady income. I've started to spend a lot less and I'm thinking a bit more before just buying things. I do have a few more expenses now. I work in Port Moody and live in Vancouver so I spend about $50/week on gas. I'm paying off my car (0% interest) and also paying for the insurance.

Good thing is that I'm still living at home and my parent's aren't in a rush to kick me out. I really do want to move out though and to see how it is to make it on my own.

Even with my money going towards my car, I'm trying to put what's left over into a savings account and eventually into RRSPs. Which I'll then use to invest in the stock market.

My coworkers been telling me to invest into higher risk stocks if I were to use the RRSP since I won't be able to touch that anyways unless I'll be using it for another investment (ie: condo/house). Would this be something I should look into doing?

[unit]

fuck women.

thats the point.

[rslater]

Age: 26
Annual Income: 9K
Field of Employment: Co-Owner Beverage Industry
Where do you live: South Surrey
Single/Couple/Married: Couple
Renting/Owning: Live at home rent free
Investment: Not a single dollar in any of any of my personal bank accounts.

I live month to month taking a small portion from my businesses profit to survive. Most of it is spent on living a life with the few hours I get of free time (I take 2 Sundays off a month). Every month we put money back into our business as well to avoid taking another loan out and we have been very happy with how everything is going. I started my business 7 months ago and I sacrificed a 45k job to do so. I also spent all my savings to continue traveling for 3 more months after being away for 8 months before as I wanted to continue backpacking. I dwindled the rest away as it took 5 months to get our business going.

I have to move into Vancouver soon as my business is growing quickly and it is impractical to spend an hour in a half driving as its time I do not have to waste. While I can't afford rent in reality, it is a financial sacrifice I have to make.

[jackmeister]

Age: 20
Annual income: mid 40s
Field of employment: Software Developer (mobile games and webapps)
Where do you live? South Vancouver.
Single/couple/married? Couple
Renting/own? Living at home, not paying rent
Investments: Starting my savings account

Right now I'm trying to get into the habit of saving my money. I was never a good saver and was a lot better a spending my money. I used to work part time (weekends and inbetween sems) while I went to school at BCIT. All that money usually went to was gas, video games, food, and electronics. I didn't really consider saving any of it since at the time I thought that it was impossible due to how small my income was (probably around 2-300/paycheck) but I definitely could've cut back a lot and put that money towards something else.

I'm working as a mobile developer now and I've been getting some steady income. I've started to spend a lot less and I'm thinking a bit more before just buying things. I do have a few more expenses now. I work in Port Moody and live in Vancouver so I spend about $50/week on gas. I'm paying off my car (0% interest) and also paying for the insurance.

Good thing is that I'm still living at home and my parent's aren't in a rush to kick me out. I really do want to move out though and to see how it is to make it on my own.

Even with my money going towards my car, I'm trying to put what's left over into a savings account and eventually into RRSPs. Which I'll then use to invest in the stock market.

My coworkers been telling me to invest into higher risk stocks if I were to use the RRSP since I won't be able to touch that anyways unless I'll be using it for another investment (ie: condo/house). Would this be something I should look into doing?

You're better off using your RRSP for something it was meant for, retirement savings. If you want that risky stuff, use your TFSA (if you're only deciding between the two). With a little tax planning info you read, you'll know that you should contribute to your RRSP when you project yourself to make more money since its tax deductible.

[top_dyl]

Many won't say because they can't legally say how they make their incomes.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

any other way of making the higher income is either owning any business,doctor/lawyer, or dealing. there's no other way.

99percent of professional jobs working for a company is like 100k and that is if you're management/very high up already. anymore than that is on very rare occasions.

[RabidRat]

...and the way to deal with GVRD cost of living?

I move the fuck away to Ontario.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

I just wanted to chime in and say this is absolutely true.

The money is a lot better down in the GTA (+$15,000 starting, in my field), with a lower cost of living. If you're willing to pick up and move across the country, this is absolutely the way to go.

Toronto is not nearly as scenic and beautiful as it is in Vancouver, but it is definitely fun. There's *always* random stuff going on downtown, and it's always packed with people. I would get bored and on a Friday night and head to Dundas Square, and there'd be a rap battle going down and everybody's having fun. At one point a caucasian lady in her late 30's jumped up on the stage and grabbed the mic, started ranting about how her son just started at college and how her precious son is probably already having sex. Then they dropped the beat and she ripped her shirt off and started rapping. And then a random homeless guy got up on stage and began grinding against her. The crowd went fucking nuts :lol

Edit: I think I might have actually recorded a video of this on my phone. I'll try to find it =p

In general I found people to be a lot more friendly as well. A bunch of people were sorta mocking a protest rally across the street and were holding a "Free Hugs" campaign, and they were running all around randomly embracing people. This kinda thing happens all the time down there and it was kind of a culture shock coming home to Vancouver. It feels like everybody's all closed off and keeps to themselves more.

Honestly I would have stayed down there if it hadn't been that I really started missing home. The $800 plane tickets home and the 3hr time difference didn't help. If I don't end up finding work soon though I'm going to look at the GTA again, at least for a few years.

Btw for anyone interested in moving away for work, you don't have to actually go there first. Just apply online and they will contact you for a phone interview, and take it from there. You might think "why would they choose to fly me down vs hiring locally", but it's a lot more common than you think.

[Meowjin]

The pacific northwest fucking blows.

don't listen to the dumb lazy shits in this thread who don't have jobs and live off their parents $$$

your not fooling me you rich ass lazy motherfucking kids.

[RabidRat]

Why the fuck is everyone so BALLING here

They're balling because they worked their asses off for it. From reading this thread it looks like those who are making good money work trades, and in the cases of ridiculous money, they're doing hard labor on an oil field out in the middle of no where, or fought to get themselves into a union job. Or they took on huge risk and killed themselves with honest hard work to get a business going. Or they risked it all sinking their hard-earned money into investments and it paid off for them.

I'm going to get flamed to shit for this, but it seems like a lot of people complain that they make so little and everyone else is somehow living the good life, how these rich kids must be living off their parents and life is so unfair. Well honestly, you CAN do something about it. Get into a trade. The money is there, but are you willing to work for it? Or go to university (transferring through college, if necessary), and I don't mean go there for a 4 year degree in fricking Psychology or Animal Biology or Theoretical Mathematics because unless you're a damn genius and love it enough to go through 6-10 years MORE school, you're now in crazy debt and are really no better off than you were without that piece of paper.

If you're going the university route, get a degree in something practical and [relatively] in demand like Engineering, or Computer Science, or Pharmacy, or Business, etc. These majors are kinda like trades, with a low success rate but with potential for higher payoff if you're willing to work hard and kill yourself over it. This is good for about 30-50k, starting. If you're lazy and just squeaked by pissing away the four years, there's no job at the end of the tunnel. Your paper is worthless. If you beat yourself to shit forcing yourself to study, and work through the night getting your term projects done and get yourself noticed by doing exemplary work, you might end up doing okay. And I suspect a lot of people in this thread who posted up 40-60k in their 20's went through exactly that.

Point is, if you're sitting there working retail making less than 30k and hating on this thread, you can do something about it. But are you willing to work for it, or are you comfortable with where you are now?

IMO.

[Iceman-19]

I dont work hard for a 12xxxx+ a year. Sure I have to travel to work and stay for 2 weeks at a time, but I'm BALLIN. U jelly bra?



Lol I'm kidding. Honestly though, I don't work all that hard, and I only got my GED a month ago... :troll:
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[Iceman-19]

any other way of making the higher income is either owning any business,doctor/lawyer, or dealing. there's no other way.

99percent of professional jobs working for a company is like 100k and that is if you're management/very high up already. anymore than that is on very rare occasions.

Jesus fuck you are stupid.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[SumAznGuy]

Unless you are :alone:, it will be interesting to know and share what's your SO or total household annual income. It's sad to see girls these days can make more than guys

Don't worry. I make almost double that of what my wife makes, but then again I work longer hours than her and I also work 6 days a week. When I break it down to by the hour, I make less than her.

While I make the car payments, gas, insurance, utils, phone, tv, etc she laughs at me cause she has more in savings because she decided to take the bus for the past 15 years and I have way too many hobbies.

[asian_XL]

^ I am the other way around here. my fiance makes 50% more, owns two apartments, pay her own bills and not driving, but save about 1/5 of what I do every month. Should never date an Asian woman.

[falcon]

Its only the ballers posting in here, you won't see some guy coming out saying he's 25 and making 15-20k and live at home

I don't know man, it's not hard to lock up a job making 40k in your early 20's, even in Vancouver. If you're only making 15-20k/yr you need to pull your socks up and figure out what you're doing wrong. People always talk about how hard it is to find a good job, yet I've had no problems the last 6 years finding work that paid around $20/hr with no university.

[falcon]

How do I get by?
I don't buy into the disposable materialistic practices than seem to define our society, especially younger generations. I don't own multiple pairs of trendy $300 jeans, I've listened to the same Ipod while studying since high school, and I don't go to Starbucks everyday. I don't need to spend money to be entertained, there are countless enjoyable free activities. I also live outside Vancouver, and can say, my rent is a full $1000 less a month than the average in this thread as a result. It means I drive 45 minutes to campus, but trips into Vancouver aren't that long of a drive on weekends since there's very little traffic.

My income dropped like a stone, but I'm twice as happy now as I was then.

Sounds a lot like me, other than buying car parts.. :rukidding: That is my one kryptonite.

[top_dyl]

Jesus fuck you are stupid.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

ohhi forgot athletes. and most rich people don't get rich off working incomes either. so you make 100k bleh you can make100k off interest on a million dollars in the bank. heh


its mostly starting a business then you can start investing

[Iceman-19]

Excellent :troll: is excellent.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[melloman]

any other way of making the higher income is either owning any business,doctor/lawyer, or dealing. there's no other way.

99percent of professional jobs working for a company is like 100k and that is if you're management/very high up already. anymore than that is on very rare occasions.

Being a structural engineer, you can easily make 100k/year. I know senior's (15+ years work exp.) that make way more then that, and they don't own their own business.. just make sure they get their company to grab the BIG jobs.

[PJ]

I don't know man, it's not hard to lock up a job making 40k in your early 20's, even in Vancouver. If you're only making 15-20k/yr you need to pull your socks up and figure out what you're doing wrong. People always talk about how hard it is to find a good job, yet I've had no problems the last 6 years finding work that paid around $20/hr with no university.

This is surprisingly true. A lot of people who complain about "no jobs" aren't trying hard enough. Checking Craigslist and firing off resumes once a week doesn't cut it.

Since graduating high school, the lowest I ever made was $17/hour at a warehouse. But at the same time, a warehouse is a dead end job.

University-gradded office drones are different situations.. There's many that start at $12-$18/hr, but move up to $30+/hr in x amount of years.

The money difference didn't make mathematical sense to me to be an office drone, so I jumped straight into BCIT engineering after high school.
At times I do get jelly of the people in my office spinning around in their cubicle chairs just hanging out.. But I just keep the salary difference in mind and go about my day.

[too_slow]

any other way of making the higher income is either owning any business,doctor/lawyer, or dealing. there's no other way.

99percent of professional jobs working for a company is like 100k and that is if you're management/very high up already. anymore than that is on very rare occasions.

Just because you have problems with breaking the minimum wage barrier SFUDropout, it doesn't mean that others will have the same problems as you.

[RabidRat]

Being a structural engineer, you can easily make 100k/year. I know senior's (15+ years work exp.) that make way more then that, and they don't own their own business.. just make sure they get their company to grab the BIG jobs.

Structural engineering, mining engineering, petroleum engineering.. there's plenty of money there =p

Electrical was a mistake :lol but what can I do though, I happen to love it.

[IfUCare]

Age: 27
Annual income: mid 50s
Field of employment: GIS tech, making planning software
Where do you live? Richmond
Single/couple/married? Solid relationship
Renting/own? living at home, pays nominal rent
Investments: Some savings, a little bit of rrsp and stocks

Must say, i wish i started saving earlier. Earlier in my 20's hung out with guys who came from wealth. Pretty much went pay cheque to pay cheque keeping up with the joneses. Ha, still living at home paying a small token to stay there, but saving up more now. Starting more to look around for my option and investments. Hopefully will be able move out in a couple of years.

[falcon]

This is surprisingly true. A lot of people who complain about "no jobs" aren't trying hard enough. Checking Craigslist and firing off resumes once a week doesn't cut it.

Since graduating high school, the lowest I ever made was $17/hour at a warehouse. But at the same time, a warehouse is a dead end job.

University-gradded office drones are different situations.. There's many that start at $12-$18/hr, but move up to $30+/hr in x amount of years.

The money difference didn't make mathematical sense to me to be an office drone, so I jumped straight into BCIT engineering after high school.
At times I do get jelly of the people in my office spinning around in their cubicle chairs just hanging out.. But I just keep the salary difference in mind and go about my day.

Yeah similar story for me but I started making a lot less and worked my way up. Started as a motorcycle lot attendant in 06 making $10, then $12, then $15 (raises), worked up to do sales and then finished in the field as a service advisor. Sales made the most by far but it was tiring, and service advising was around $20/hr (salary) but with OT. No uni, no certificates, nothing. I 'could' easily do this for the rest of my life and make a decent living but I have higher goals and have since left the M/C industry.

A lot of jobs have a lot to do with selling yourself and how you present yourself at the interview. If you have a good head on your shoulders (they can usually tell) and are willing to put in the work it's not hard to find a job that pays well.

[melloman]

Structural engineering, mining engineering, petroleum engineering.. there's plenty of money there =p

Electrical was a mistake :lol but what can I do though, I happen to love it.

I work at an Electrical Engineering firm. ;)

[RabidRat]

I work at an Electrical Engineering firm. ;)

Just think, we could've been making twice as much right out of school. It hurts doesn't it hahaha.

Everytime this topic comes up on Reddit it's always the Petroleum Engineer new grads shoving their $120,000 USD salaries in people's faces.

[penner2k]

I just wanted to chime in and say this is absolutely true.

The money is a lot better down in the GTA (+$15,000 starting, in my field), with a lower cost of living. If you're willing to pick up and move across the country, this is absolutely the way to go.

Toronto is not nearly as scenic and beautiful as it is in Vancouver, but it is definitely fun. There's *always* random stuff going on downtown, and it's always packed with people. I would get bored and on a Friday night and head to Dundas Square, and there'd be a rap battle going down and everybody's having fun. At one point a caucasian lady in her late 30's jumped up on the stage and grabbed the mic, started ranting about how her son just started at college and how her precious son is probably already having sex. Then they dropped the beat and she ripped her shirt off and started rapping. And then a random homeless guy got up on stage and began grinding against her. The crowd went fucking nuts :lol

Edit: I think I might have actually recorded a video of this on my phone. I'll try to find it =p

In general I found people to be a lot more friendly as well. A bunch of people were sorta mocking a protest rally across the street and were holding a "Free Hugs" campaign, and they were running all around randomly embracing people. This kinda thing happens all the time down there and it was kind of a culture shock coming home to Vancouver. It feels like everybody's all closed off and keeps to themselves more.

Honestly I would have stayed down there if it hadn't been that I really started missing home. The $800 plane tickets home and the 3hr time difference didn't help. If I don't end up finding work soon though I'm going to look at the GTA again, at least for a few years.

Btw for anyone interested in moving away for work, you don't have to actually go there first. Just apply online and they will contact you for a phone interview, and take it from there. You might think "why would they choose to fly me down vs hiring locally", but it's a lot more common than you think.

Alberta is another option. Wages are higher then BC. Taxes are lower. Gas is about the same price here as it is in Washington. If you live in Calgary you arent that far away from the mountains and with the money you save/make out here you can actually afford to go do stuff. On top of that if you get a seat sale its only like $250 to fly back to BC (round trip)..
Also as you said people are just more friendly.
I actually suggest anyone just come visit Calgary at least once just to see how unfriendly people from Vancouver actually are.

[penner2k]

any other way of making the higher income is either owning any business,doctor/lawyer, or dealing. there's no other way.

99percent of professional jobs working for a company is like 100k and that is if you're management/very high up already. anymore than that is on very rare occasions.

You mad that if you get out of school when you are 18 and move to Alberta you will be making $160k a year as a pipefitter in 3 years.

Or if you save up your money and put in your time you could be making $100 hr as a welder by the time you are 22.

[top_dyl]

Just because you have problems with breaking the minimum wage barrier SFUDropout, it doesn't mean that others will have the same problems as you.

i make lower than minimum wage

[freakshow]

I don't know what the immigration laws are like for Singapore, but regarding SoCal, you're not going to be able to move down to the states for work without a professional degree (see this list: TN status - Wikipedia, the free encyclopedia (http://en.wikipedia.org/wiki/TN_status#Recognized_TN_Professionals))


Just want to clear up possible miscommuncation. You do need to be applying for one of the listed titles. For example, they'll accept you if your contract says "Computer Systems Analyst", but will turn you away if it says "Computer Programmer".

I have a BCIT diploma, and I worked in the states for a few years on a TN. So you don't NEED a professional degree..

[RabidRat]

Just want to clear up possible miscommuncation. You do need to be applying for one of the listed titles. For example, they'll accept you if your contract says "Computer Systems Analyst", but will turn you away if it says "Computer Programmer".

I have a BCIT diploma, and I worked in the states for a few years on a TN. So you don't NEED a professional degree..

Sorry I stand corrected. Some of the listed titles do allow for diplomas. I'll edit my post.

[Meowjin]

i make lower than minimum wage

shut the fuck up you fucking idiot

dont even care if i get banned anymore

[Meowjin]

Just want to clear up possible miscommuncation. You do need to be applying for one of the listed titles. For example, they'll accept you if your contract says "Computer Systems Analyst", but will turn you away if it says "Computer Programmer".

I have a BCIT diploma, and I worked in the states for a few years on a TN. So you don't NEED a professional degree..

Yeah I'm aware, kinda why im leaning towards sticking with nursing,

[Over9K]

Structural engineering, mining engineering, petroleum engineering.. there's plenty of money there =p

Electrical was a mistake :lol but what can I do though, I happen to love it.

Exactly what DO you do with those jobs?

[GLOW]

Structural engineering, mining engineering, petroleum engineering.. there's plenty of money there =p

Electrical was a mistake :lol but what can I do though, I happen to love it.

you got suckered too eh? everyone always told me electrical was the best because it was the hardest...i shoulda asked who makes the most not which is the hardest hah

[d1]

So how does one get into a welding position in Alberta with little to no experience?

[Iceman-19]

You go to school to get your tickets and get apprenticed. You can also get on as a laborer in a metal work shop and work hard and hope they teach and apprentice you.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[cressydrift]

Age: 26
Annual Income: Good
Field of Employment: Automotive
Where do you live: South Surrey
Single/Couple/Married: Couple
Renting/Owning: Own townhouse
Investment: Have RRSP, TFSA but just used them all to buy place.
Education: Currently studying part-time @ UBC in real estate program

My GF and I saved for ever (I saved more) and took advantage of the 2.99 interest rate and just bought near Morgan Crossing. Had to live at home till I was 26 to save up large down payment. My advice for young guys is not take on big car loans, and save to the max while you live at home if you have the opportunity (If you want to buy a place)!

I know its a huge debate but about renting/owning. Fuck paying someone else's mortgage off. I will just pay my own thank you very much.

[RabidRat]

Exactly what DO you do with those jobs?

I can tell you exactly what you do with any job.

You can look through Monster.com, Workopolis.com, or Indeed.com, and just type in [occupation] (say, "registered nurse") and click on a job posting, and look at the listed responsibilities and desired experience. Looking through job postings is IMO the single best way to get an idea of what you actually DO on a job, far better than reading Wikipedia or going by hearsay. As for what it's LIKE to work in a field, it's probably best to ask someone who's doing it.

Then, if you're curious about salary:
Company Salaries | Glassdoor (http://www.glassdoor.com/Salaries/index.htm)

[RabidRat]

you got suckered too eh? everyone always told me electrical was the best because it was the hardest...i shoulda asked who makes the most not which is the hardest hah

Haha to be honest I chose it because I'm passionate about it. I'm specialized into digital electronics design and it is a hell of a lot of fun. As long as I'm making enough to live I'll always be happy doing it.

[tool001]

correction in housing prices is happening already, will catch momentum in another few months - may pickup by nov. (provided everything remains equal)

[Glove]

we bought our house 4 year ago,

our bi-weekly payments are 1050, so 2100 monthly.

480$ of that is interest, so we pretty much saving 1620 dollars everymonth in equity.

this is much preferable to renting IMO,

but we also do pay 300 a month in property tax, and just got a bill for 750 for water and garbage... so the extra bills definitly add up, but its still better than renting and paying someone elses mortage.

it also helps that I can fix everything myself including appliances, furnaces, cars, plumbing and what have you,

dont pay anyone to do anything for you, and save all that money for yourself.

any trade is something anyone can learn, so learn it for yourself

[darnold]

You mad that if you get out of school when you are 18 and move to Alberta you will be making $160k a year as a pipefitter in 3 years.

Or if you save up your money and put in your time you could be making $100 hr as a welder by the time you are 22.

Slightly more complicated than that.... Let me guess, youre a first year dragging leads and collecting boltup packages?
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[SumAznGuy]

we bought our house 4 year ago,

our bi-weekly payments are 1050, so 2100 monthly.

480$ of that is interest, so we pretty much saving 1620 dollars everymonth in equity.

this is much preferable to renting IMO,

but we also do pay 300 a month in property tax, and just got a bill for 750 for water and garbage... so the extra bills definitly add up, but its still better than renting and paying someone elses mortage.



Pretty much in the same boat. Bought our first place back in 2003 when the market was still low. Then upgraded to a bigger place after the market took off and hopefully will be mortgage free in less than 3 years.
At this point, each month less than $200 is going to interest. :fuckyea:

Age: 35
Income: not enough
Employment: Sales
Where do you live: North Burnaby
Status: married no kids
Renting or own: Own
Investments: Just our condo

[JKam]

Age: 35


you're 35?! :pokerface:

[bcrdukes]

^
That's what I thought too! I thought he was 25 - AT MOST!

[melloman]

Exactly what DO you do with those jobs?

You don't get paid more because of what you do. It's what you know and your liability.

@RR: To be more clear, I work for an electrical engineering firm, and I also work right under our structural engineering (best of both worlds to me).
The main thing behind a structural engineer is his knowledge. To beable to build something, and stand behind your product and say it will last a lifetime with no flaws and it won't fall down, and you have to charge alot for that.

In his now 50+ years of work epxerience, he's never had a single structure fail on him. Or be it any piece of the structural (be it joists, beams, anything). Thus the reason why he makes so much and why he is still in such demand at the age of 73. :lawl:

Edit: I don't have personal experience for a mining engineers salary neither petroleum. But I can say 1 thing: Both mining and petroleum are HUGE projects, you don't get a small job from either of those. Both are multi-million dollar projects where an engineer can charge alot of money for his services because it's needed to have everything squared away.

[Matlock]

Age: 25
Income: not enough
Employment: Electrician, non-union
Where do you live: Burnaby
Status: Not single, not married
Renting or own: Renting
Investments: RRSP, Paying off 0% interest car loan

Just finished up school at BCIT last year and have been working with this new company for over a year. So, I'm pretty much "bottom of the totem pole." The pay isn't much, but hours are very solid and it seems that they keep good workers for over 30+ years. Raises will come in time. I still continue to learn everyday, which makes my time worthwhile.

I've been in Vancouver since birth and it really is more expensive than other places to live. The good thing about my job is that I can work pretty much anywhere that has electricity. I like it here, but I'm not going to rule out going elsewhere for work in the future.

[GLOW]

Haha to be honest I chose it because I'm passionate about it. I'm specialized into digital electronics design and it is a hell of a lot of fun. As long as I'm making enough to live I'll always be happy doing it.

i did the same but the prospects in vancouver :heckno:
glad to hear you're able to do what you love in the tech industry. a bunch of my friends (me included) jumped industries when the wave of lay offs hit the industry a few years back

[tiger_handheld]

Age: 25
Income: mid 30's
Employment: Accounting
Where do you live: Surrey
Status: Not single, not married
Renting or own: At home
Investments: RRSP/TFSA

Even though I live at home, I find that it's hard to save. I don't spend on stupid shit but do have bills (insurance, gas, car payment, cable, bchydro&terasen, various personal crap) and such to pay. I'll be happy if I can save anymore than $150 per month. Bust my ass but still find it hard to make a significant dent in the down payment goal of 25k at the end of each year.

[bloodline129]

^^^^ I feel u bro... I make exact the same and after all bills and neccesities are done there is not much left.. :(
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[penner2k]

Slightly more complicated than that.... Let me guess, youre a first year dragging leads and collecting boltup packages?
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

Nope... I've been fitting pipe and actually doing the bolt ups for almost a year already...

[top_dyl]

shut the fuck up you fucking idiot

dont even care if i get banned anymore

i go to work because it gives me a purpose in life only. i work to help not for $$$

[dark0821]

Age: 23
Income: just above 15K
Employment: Painting/Price Smart Foods/Free Lance
Where do you live: Vancouver
Status: I haz GF xD
Renting or own: At home with parents
Investments: None

I also live at home, and like everyone else I can barely save, just have a general run down of costs (per month)
Car Insurance - $70 - ya, nth is covered, and use only for pleasure
Gas - $250 - even though I get about 8.5L/100KM I admit, I drive alot
Internet - $60
Phone - $42
GF - $200 - she is no gold digger by any means, but lets say we go out once or twice a week, $20 here, $30 bucks there and before you know it, we are spending like $50 a week.... (and that doesnt even include special events like valentine, xmas, bdays and shit)
General Crap - $100 - this i believe is my biggest factor, and I do try to keep it as low as possible, from the occasional socializing with friends, to the new final fantasy for my PS3...

Thats about $722 of "fixed" expenses that I cant escape... and above that I have to keep saving for tuition and shit... Project car and maybe a R34 (ok the R34 part is kinda like a dream but whatever) I save smth like $4XX.xx per month, and that kinda goes out the window at the start of every semester...

haha I guess its not much help.. but ya...

//end rant

[unit]

no offense dude, but 15k? full time minimum wage is more than that.
are you freelancing and trying to make it a full time gig?

[dark0821]

you realize I have school in between everything right?

I think having about $1300/month for part time is nth to be ashamed of

[unit]

whoops missed that bit. in that case 15k is a lot more than i made while i was in school!

[jackmeister]

you realize I have school in between everything right?

I think having about $1300/month for part time is nth to be ashamed of

Its a lot better than not working at all :badpokerface:

Maybe you should try to get a related job in what you want to do in the future?

[darnold]

Nope... I've been fitting pipe and actually doing the bolt ups for almost a year already...
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

Wow so you must be a seasoned veteran fitter by now after a whole year of experience lol...

[SiRV]

for anyone looking into buying property.. some good news
BMO cuts 10-year mortgage to record low - Business - CBC News (http://www.cbc.ca/news/business/story/2012/03/08/bmo-mortgage-rates.html)