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Originally Posted by AWDTurboLuvr
Nowadays, it's way beyond that and salaries haven't really gone up to match it. Back then, people stayed in one career, maybe moved to another company or two and then retired, all staying in the same area. Now, many people relocate to find better opportunities and open new doors this way.
I will say this, yes, you need to be skilled to have a company sponsor you over a local, but you also need to show that you are willing to move out of your comfort zone, to a new place and to a new work environment. It was crazy, once I relocated out east, companies were asking me monthly if I was willing to move to Stockholm, NYC, LA, to work for them. I'm not the most skilled guy in my line of work, but so many people aren't willing to move.
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My job is in a niche line of work and while I'm a good talker, communicator, I can't imagine that my skill set would garner me much more than 20-30% in another city. I already make an above-average salary in Vancouver, but it's just that my money doesn't go as far. There are some cities that would be less expensive to live (perhaps Calgary, or Regina), but any desirable world-class city is just going to be as expensive or more to live. If you move, you might as well move to a more desirable city because what would be the point?
Quote:
Originally Posted by AWDTurboLuvr
My issue with what you wrote, is when you said some people can only save money in real estate. I always hated the "forced savings" routine with real estate. Yeah, you're forced to because the bank will rip you a new one if you didn't keep up with payments. What young people today need to realize is that real estate is only one option of investment options and that if you can't save money properly, renting or owning, then you need to educate yourself on maintaining a proper budget. You say you can't time a market. No you can't, but it's much easier to get out on most other investment options than in real estate. To me, owning a home and living in it, is just shelter...not an investment.
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Everyone needs shelter, but unless you're willing to live in a room, it's more than just shelter to most people. Yes, that's a lousy way to think from a rational-investor point of view, but it's nice to come home to a decent place. I provided a very real scenario for a yuppie in Vancouver. You either pay $1300-1400 for a 10+ year old 1-bedroom, or you maybe pay $800-900/month for a shared 2-bedroom unit. You can save a bit if you rent in New West, or Surrey, but you have to pay for transportation which wipes out those savings. You may save $300-500 a month, but unless you pick the right company, you can't exactly turn your savings into riches. Investing may be easy to some here, but to others who neither have the risk tolerance nor the discipline to learn how to earn 10-20% year over year on their investments, forced savings are better than nothing.
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