250K Canada TC

New
iRHA46

New

iRHA46
Apr 3 32 Comments

Is it good salary for living in Toronto with family? Have a 2 years old son. Wife not gonna work for 1-2 years.

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 TOP 32 Comments
  • Wish
    banaWaple

    Go to company page Wish

    banaWaple
    Really depends on your living style but I'd like to point out that many families in Toronto have under 100K householde income.
    Apr 3 5
  • Cisco
    PythonDude

    Go to company page Cisco

    PythonDude
    Bruh, 250k is like top 0.1% in Canada
    Apr 3 1
  • New / Eng
    OxqX37

    New Eng

    PRE
    Block, Amazon
     OxqX37
    Wtf?

    That’s like >10K/month post tax.

    4K is a nice place to live in downtown proper (can be much less if not DT or not fancy). 1K food, 1K car +gas + insurance+parking, $800 phone x2/internet/subscriptions, $1200 misc. expenses.

    Assuming wife is taking care of child…

    That’s almost 3K saved a month which is 36K a year. That’s a down payment in 5 years. Very solid IMO, and you can easily save more as that is a very liberal budget
    Apr 3 10
  • Microsoft / Eng
    LoserNerd

    Go to company page Microsoft Eng

     LoserNerd
    Get ready to get destroyed on your taxes
    Apr 3 2
    • New
      TimAapl

      New

      TimAapl
      The bad thing about Canada income tax is that it's not taxed per household. So you'll be paying a lot more taxes as sole earner, or if there's huge income disparity between spouses.

      Also, even after conversions, a lot of things are more expensive in Canada vs USA. Just check the differences between amazon.ca and amazon.com.
      Apr 3
    • Microsoft / Eng
      LoserNerd

      Go to company page Microsoft Eng

       LoserNerd
      Yeah, glad I moved out of that shithole when I did
      Apr 3
  • Its a good TC in Toronto.
    Apr 3 1
    • New
      Dongerino

      New

      Dongerino
      It’s good if it’s not Monopoly money
      Apr 3