Cost of living is HUGE in Canada! @My Name Jeff
average income in canada is 55,000 a year
thats approx 4580 a month
tax rates are about 25%, so that leaves you with 3435 disposable income. companies usually scrape some money off for mandatory pension plans, so lets assume thats 200 a month (thats what my company takes and its the bare minimum). you now have 3235 disposable income
the average cost to rent a single bedroom apartment in canada as of 2022 was 1680 dollars, this leaves you with...
1555 dollars to cover a months worth of gas, car payments, car insurance, car repairs, food, utilities, etc. etc. FYI due to a large amount of issues utility cost are very high, im talking 300 a month hydro, 150-200 a month water, 120 a month internet+phone.
this, simply put, isnt possible. you are living with your parents or you are living with multiple other people, or you are making above average in which case fuck off.
sources:
Retiring comfortably is everybody's dream, but how much do you actually need in order to retire? Are there other factors that you need to consider?
www.dundaslife.com
Yearly updated list of rental housing prices across Ontario.
settlement.org
I am using ontario statistics as its the as it holds approx 15mil people, so 50% of canadas population.