Originally Posted by bmdbley'sBro
good article SiR..
I know from stuff i've read & posted that 60% of canadians are living cheque to cheque and those people would be in real bad shape if it were delayed by a few days! retirement savings or savings is not something these people will ever have - and thats more than half of our population!
That's because people don't manage their $$$ properly. At my workplace the hourly rate for a assembly line employee is over $30/hr and yet most people live cheque to cheque and they get paid weekly and make a min of 8 hrs of OT a week!!
In fact there is a visible minority of people that ask for a pay advance on a regular basis.
The smart ones, have no mortgage, a few rental properties and sizable savings and no consumer debt.
The reason a good portion of those 60% that live pay to pay would be in trouble is because they are STUPID. That's right I said it.
I work with several of these individuals who have a 2 mortgages (house and cottage), 2 car payments, motorcycle payment, snowmobile payment, boat payment and sizable credit card debt. They would be dead in the water within a month of losing their jobs. Never mind any talk of savings or putting $$$ away for RRSP's.
As for engineers not being able to find jobs once they graduated, especially this year
Plenty of jobs out there. In fact an engineering student I know was able to get a summer eng. job without too much hardship and without any connections. You get what you put into it. Some individuals will succeed no matter what obstacle you put in front of them, others will whine and cry at the smallest inconvenience saying how it is unfair and blame others for their lack of determination and hard work.
As a side note there is plenty of jobs and $$$$ in Alberta. If you really want to make money after university or getting your trade ticket or heck even as unskilled labour, that is the place to go. Sure you might live in
Faq nowhere for a few years, but if you are smart and manage your $$$ properly you can come back with work experience and a ton of $$$ in savings to but that Toronto house you think you will never be able to afford.
Will it suck to be away from friends and family in a new and unfamiliar location with really cold winters, sure, but hey there is no such thing as a free lunch.
Do others have it easier? Sure!! BUT the majority of the world has it 100000000x times harder.
To be among the richest 10% of adults in the world required US$61,000 in assets. Some of you own cars worth more than that! Most BMW's cost more than that new.
Canada still is the land of oppourtunity if you are willing to seize it and work hard for it. And for all those that cry about immigrants taking Canadian jobs away, BS.
Ask anyone that was an engineer/accountant/doctor/dentist/nurse in another country how easy it was to find a job in your profession once they came to Canada? And then see if you not being able to land that $60k job straight out of university is really that hard.