Quote:
Originally Posted by 4444
i totally agree with your points, but to give perspective of someone that wants to have financial independence as soon as possible, i'll just say this, earning less than $100K per year in Vancouver, living what I define as a good life, does not leave much excess for investing for that later time of financial independence.
Now, don't get me wrong, i have very high standards, many of which Vancouver could not fulfill - but i also wasn't raised in Vancouver, so my expectations are different. And some people want to be able to retire at 50, 55 age range - i think that's VERY difficult to do in Vancouver. So i suppose it's all down to what you want. Completely agree, the free things are great in vancouver, parks, coast line, community (kind of)... but i know multicartual wants a life of ho's, blow, and whatever else, i want a life of great lifestyle, huge culture, see the world, and retire VERY young - sub $100K i couldn't get that, equally you moved away from Vancovuer for a reason and it worked out great for you.
but your point is fully taken and accepted, some of us just want way more than the average, but others just want safety, good education, security, healthcare, non harsh climate, vancouver gives you that in droves.
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I see your angle on this subject. You're more focused on the opportunities/financial freedom of this city rather than the natural beauty and social services of this community. I agree with you 100% and I'll even add that if you ever consider yourself a risk taker or business person, GET THE HELL OUT OF VAN and try your luck elsewhere before you lose the passion, strength and money.
Here's what I've gathered over the years. Vancouver is probably the worst place to start a business and try to turn a profit. It is so easy to get a "decent" paying job that requires no risk, no investment, no stress, and still give you what I call and consider a comfortable life in Vancouver.
Here are the reasons why.
1) Wages
2) Taxes
3) Economic rate of return
1) Wages: No matter what type of business you plan to start, you'll eventually require employees. Employment is extremely expensive here and most of the time, your employee will pocket more change than you by the end of the day. My friend who owns a semi successful food court joint told me this, "dude, the dish washing lady drives a Benz, how the fuck am I gonna make money?"
2) Taxes: Taxes are so high and ridiculous, it deters entrepreneurism and just forces people to max their intentions to screw with the system. We get taxed for everything in BC, you don't care much because you just got use to it all your life. Try living some where else that doesn't tax you every opportunity it gets. ie HK. I just bought a car, and I still can't believe I had to pay 12% on used. Seriously, in a car's lifetime, you'll be able to tax the full value of the car. Just forces people to screw with ICBC and in return requires a lot of employees to keep things in check and in return cost you the tax payer more money to feed those mouths. You continue to pay for it again and again and again. This is just a recent example on taxes.
3) Economic rate of return:
If you start your business and you find that you make less than what you use to get in the open market, then you've failed. You're wasting good time and money on something that doesn't give you a better return compared to just getting a job.
If you start a business and you make the same as you would in the open market, you've failed. You just bought yourself a job, that's all. That money you invested could have been utilized better by doing anything else.
If you start a business and make more than what you would in the open market, then you need to calculate your ROI based on money and time invested. That's the business part of the business. It's not about how much you make, it's about how fast and efficient you can make it compared to anything else you can do or invest in. Maximizing your potential for gains and increasing your net worth, these two things basically sums up financial success.
With all that said, these are the reasons why I left right after post secondary. It really sucked to leave and my wife and I dream about moving back everyday since the first day 8 years ago. Vancouver is a great place to work if you're not a risk-taker and require stability. If you take "money making" out of the equation, Vancouver is the best place in the world and I'm not just comparing HK to Van.