ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
We are FIREd and have toyed with the idea about moving back to Canada. I was curious if anyone else had or has and what their reasons & experiences were.
Dual citizen here (can/us) who's been moving around looking for a permanent FIRE city. Grew up in Canada and moved to the US for grad school. Stayed in US for work and got married to a US citizen.
Yes I considered moving back to canada and evaluated it just like any US city that we considered for FIRE. But on our criteria, Canadian cities (realistically only Toronto, Vancouver) just don't make the cut.
The main advantage of returning to canada would be healthcare and proximity to family/friends. However, ACA is working just fine for us right now and we spend 1-2 months in Canada every year anyway. In addition, my Canadian friends/family often travel a lot for conferences/vacations and it's been easy to meet up with them in the US. In contrast, our american family/friends are probably never going to visit us up north.
While healthcare is definitely cheaper, some of that advantage is eaten up by increased living costs for everything else: food, transportation, dealing with winter, and a terrible retail market. Housing in TO/vancouver is at California levels. I don't have data to support this claim (higher COL outside of healthcare) so I could be wrong, but that is my impression. It also depends on the exchange rate (which can fluctuate rapidly) as our portfolio is entirely in USD investments.
At this point, we'd only return to canada under a couple of conditions: (1) ACA changes and we lose guaranteed issue and/or medical premiums become unaffordable or (2) I need to return to help relatives.
Long term, I've thought about getting a condo as a second home in TO if we want to spend more time there (right now we don't). However, currently our portfolio isn't large enough to support this but it might be a possibility with a combined Canadian recession, housing crash, and CAD dollar drop.
.....we are interested in Vancouver Island, BC.
We are FIREd and have toyed with the idea about moving back to Canada. I was curious if anyone else had or has and what their reasons & experiences were.
As for Canada, for years I considered we might retire there, but finally realized we won't.
If you are poor and old, then Canada is great due to the social programs, but if you have a big income, the income tax rate is high with higher percentages and small transition levels.
Most provinces also have an income tax that is high compared to US rates.
Sales tax varies a lot across Provinces.
Much of what PhotoGuy said is true about the higher costs (food, fuel, booze, cars, etc).
It's a great place to visit, especially with the exchange rate.
Reasons being also that I can have good healthcare back home with a cheaper cost of living, and closer to family.
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While we have established these estimates to be subjective, it does give you an idea. BUT does NOT includes the MASSIVE one Healthcare Costs.
Cost of Living Comparison Between Victoria, Canada And Jacksonville, FL, United States
Where is Home?
It is! It would be easy for you to visit the Netherlands from time to time, I'd think, since you wouldn't be very far away.Belgium.
In US terms, that's basically next door
I'd like to move back to Canada my wife (who isn't Canadian) no so much. Since I'm in California there is less of a delta between taxes though I think it's still a bit cheaper here than say BC (the only option my wife would even remotely consider everywhere else is too cold). I think the HC cost cancel that tax difference anyways since at our income level HC here is about 10-12% if we don't get sick
It could be much cheaper to live there if we lived where I would like (small town/or country living) but she's a big city girl and that is not going to fly either). I keep trying but doubt it is an argument I will win...as usual
We've toured Victoria, Vancouver and Seattle. Then we toured British Columbia and Nova Scotia as far as the roads went.
We loved the places and especially loved the people. But with 15% sales taxes and $12.99 per six pack for the cheapest beer, we don't know how people can afford to live in Canada.
And that was before the Canadian dollar has gone so low--tanking.
I look at HGTV television shows about purchasing houses in Toronto area with entry level homes at $650K. I wouldn't be caught dead living in those run down homes, as we could buy a comparable home for $65K--no kidding.
We'll just remain where the life is simple--in our fish camp on the Tennessee River.
We've toured Victoria, Vancouver and Seattle. Then we toured British Columbia and Nova Scotia as far as the roads went.
We loved the places and especially loved the people. But with 15% sales taxes and $12.99 per six pack for the cheapest beer, we don't know how people can afford to live in Canada.
And that was before the Canadian dollar has gone so low--tanking.
I look at HGTV television shows about purchasing houses in Toronto area with entry level homes at $650K. I wouldn't be caught dead living in those run down homes, as we could buy a comparable home for $65K--no kidding.
We'll just remain where the life is simple--in our fish camp on the Tennessee River.
Moving from CA to BC would probably not be much different in overall costs. Have you visited there, as perhaps your DW has false impressions about Canada.
Your Yankee dollars will go much farther up there right now 25%-30% more so it would be a cheap holiday to visit.