Hello Wali - great discussion. Am in Canada presently and moving to Dubai this month. Re the 10k income, in addition to taxes, he will also be giving deductions for Canada pension plan, employment insurance and medical benefits insurance not covered by ohip (dentist, rmts, etc) Typical breakdown will be Housing 4000$ (emi, prop tax, utilities? Car 1000$ (emi, insurance, gas) Groceries 2000$ Phone, internet, utilities - atleast $300 So thts $7300 right there And this is all on lower end :(
I disagree with point mentioned at 35:10 regarding selling his investment property. If we presume the following true: 1) He is netting 1000/month 2) The costs will remain fixed (interest rate will not adjust over time) 3) He is okay with overhead of maintaining the property He should keep the property. With time, the rents will go up, so the 1000/month he is netting will increase with time. Furthermore he is also building equity in property each month. Sure the equity is at -100k today, but eventually the market will find its way up and in addition to appreciation his loan amount will also decrease. Sure there might be better alternates out there to invest, but given the numbers shared, the person should keep his investment property
Commenting at 51:03; he is doing well. In fact the EMI that he is paying towards his rental home will eventually be a saving. He might have lost some equity today but it will rise eventually as that is the property cycle. Similarly, he has been saving in other schemes for kids education and retirement funds. I look it this way, he doesn't have liquid cash today but in 10-15 years he will have a saving of 2-3 millions in net savings. Additionally, his primary home will also be an asset. Most of his income is going into EMIs today which is sort of investment/savings in my opinion.
Hi, Wali Bhai I love your videos. Can you please make a video about New Zealand's accredited work visa? Many of my friends and colleagues are moving with their families to New Zealand on work visas because they think getting PR and then a passport is easy. I am just worried about taxes and the high cost of living. Is 6000 dollars enough salary to survive in New Zealand?
I am sorry to say that your guest has no knowledge, he always talks about money and math but he is excluding human sentiments from all calculations. You guys are only telling about saving money while important is how to spend money. I think you guys want to save in this life and you will spend in your next life.
Hello Wali - great discussion. Am in Canada presently and moving to Dubai this month. Re the 10k income, in addition to taxes, he will also be giving deductions for Canada pension plan, employment insurance and medical benefits insurance not covered by ohip (dentist, rmts, etc)
Typical breakdown will be
Housing 4000$ (emi, prop tax, utilities?
Car 1000$ (emi, insurance, gas)
Groceries 2000$
Phone, internet, utilities - atleast $300
So thts $7300 right there
And this is all on lower end
:(
@@shivpreetdeol9577 good luck with the move :-)
I disagree with point mentioned at 35:10 regarding selling his investment property. If we presume the following true:
1) He is netting 1000/month
2) The costs will remain fixed (interest rate will not adjust over time)
3) He is okay with overhead of maintaining the property
He should keep the property. With time, the rents will go up, so the 1000/month he is netting will increase with time.
Furthermore he is also building equity in property each month. Sure the equity is at -100k today, but eventually the market will find its way up and in addition to appreciation his loan amount will also decrease.
Sure there might be better alternates out there to invest, but given the numbers shared, the person should keep his investment property
@@aaan220 that’s what we concluded towards the end.
@@WaliKhan_2k great didnt complete the video yet :)
Commenting at 51:03; he is doing well. In fact the EMI that he is paying towards his rental home will eventually be a saving.
He might have lost some equity today but it will rise eventually as that is the property cycle. Similarly, he has been saving in other schemes for kids education and retirement funds. I look it this way, he doesn't have liquid cash today but in 10-15 years he will have a saving of 2-3 millions in net savings. Additionally, his primary home will also be an asset. Most of his income is going into EMIs today which is sort of investment/savings in my opinion.
Wali bhai, UAE ma builder/developer kese bn sakty hain is pa bnayein video.
Look I don’t challenge your version but I am surprised why suddenly moving out/in/deportation / bad economy etc etc is the only thing that is going on
@@naumanshah4764 who said this is the only thing going on? Productive people won’t stop anywhere in any situation :-)
Hi, Wali Bhai I love your videos. Can you please make a video about New Zealand's accredited work visa? Many of my friends and colleagues are moving with their families to New Zealand on work visas because they think getting PR and then a passport is easy. I am just worried about taxes and the high cost of living. Is 6000 dollars enough salary to survive in New Zealand?
Both of you promote each other 😂
@@World_Travel_0708 who is stopping you to do the same with your own network? 😂
I am sorry to say that your guest has no knowledge, he always talks about money and math but he is excluding human sentiments from all calculations. You guys are only telling about saving money while important is how to spend money.
I think you guys want to save in this life and you will spend in your next life.
@@farooqahmed1963 we talked a lot about spending in past videos :-)
Still Canada is paradise on earth.
Come in western Canada