Thanks Nav. I have been in Canada for the past year and half. I am originally from India but now a British citizen. I was in Canada on a work permit but now moved back to uk. we did seriously consider migrating but there are so many thing that u have highlighted in your video. However I would like to add a very important point that you have not touchd upon. Its the school education system and then further education. The school education is tremendously relaxed, does not prepare children for the real world and then there is lot and lots of indiscipline. Mind u I was living in Oakville which is believed to be one of the posh places to live in Ontario. Many schools do not have proper class rooms. My girls who were in Class 6& 8 use to sit a porta cabin which was there class room. Thereafter there is a serious bottleneck if ur child wishes to pursue a career in Life Sciences. Sorry, but if u were to ask me then Canada is a serious waste of time tbh.
I've lived in a town in a western country for 50 yrs. Population 25,000 (near major cities that are very diverse/liked). Until 3 years ago, most citizens in my town would RARELY have described our home as a "college town". If ever. Even though the college opened 6 decades ago. Even though it has always had a good reputation (and many programs). Even though we've liked it a lot. When the college was talked about, it was seen as a place where many minds go to learn every semester. To embrace a career. Plus international students of all races (like our town of numerous races) were seen as adventurers wishing to also learn about our country. Perhaps one day they would wish to stay in our country. Why? Because they grew to like it (and it's people) and wish to remain involved. These thoughts have changed IMMENSELY. Since 2019, many long-term citizens feel like our college classrooms and dollar stores and convenience stores and hotels/motels/homes and restaurants have all quickly turned into a BIG immigration system for thousands of Indians wanting PRs. I sound cruel but I'm not a cruel person. I'm just concerned by the high-pace and high-volume (housing prices are SOARING) ... and about exactly how things in town are changing too. Because rich Indian men are also very quickly buying many of the above places (minus college), AND they are changing things in ways where someway/somehow (by a far margin) eventually the Indian boss benefits most ... followed by people HE trusts (and 90% are Indian). Longtime citizens are feeling more and more hurt by their sudden firings, by their hard-earned invoices (for completed work) not being paid, by feelings of discrimination in multiple areas i.e. intangible services. The common denominator is centering around power-driven MEN (raised in India). They appear kind, yet occasionally not (in a strange way that's hard to explain). We regularly see them not appreciating their Indian staff! Especially women. So much so that I Googled "caste system" recently. Something I never was interested in doing before. I'm surrounded by fun citizens who have strived to be kind, racially-diverse-oriented, and WELCOMING people. But now they're not knowing what to think. And the concerned are not all white ... nor non-Asian. Our city friends are saying the same while witnessing a very sharp spike in Indians claiming asylum at the airports. Scamming being discovered more & more as even Indians (who immigrated decades ago) complain about it. Most citizens here are not rich. Most are middle to low. We have a homeless crisis happening since pandemic. We lack space and infrastructure etc., for a tidal wave of people. India is deemed a safe country with potential ... that doesn't meet refugee status. So everyone is wondering "what's up". PS Many Indians we've met are great. It's a select few ... plus the PR frenzy ... & maybe caste sometimes ... that's causing concerns. And we know our country's leaders have made some mistakes along the way in regards to wanting immigration vs ability.
India is 1.4 billion population which is roughly 18% of the world. So when you talk about India you are talking about 18% of world. Whereas In India , Canada is considered as country harbouring terrorists for its political interests.
Very well put together, thank you. I thought this mass influx of Indians was taking place only in Toronto, but no, it's everywhere. Sad. I have written to Mr. Miller to put in a quota system.
@@AxAz12515 GUJJUS...But, Gujjus ( unlike Punjabis) intend to utilise Canada as a TRANSIT POINT. Their aim is to use Canada as a STOP GAP to sneak into USA.
This is what I have been talking to my friends and they look at me like someone who is always cribbing. A very good video with good explanation Nav. Rise and Shine 🧿
He himself brought his brother; sister; sister in law; brother in law and now all of them will produce kids here - No use of such population to Canada. He and his wife himself came using fake documents when thy were not even having jobs in India.
My nephew and his wife migrated from Brazil to Canada, got citizenship, bought a house in Vancouver, and lived there for some four or five years. They recently moved to Tampa.
Come to Canada, do not invest in real state, don’t take any car loan or home loan, just survive for 3 years with minimal liability, get Citizenship and move to USA.🇺🇸
Before planning to immigrate to Canada, you should had done your Home Work. Canada is a DEAD nation, now. One should realise that if IMMIGRATION IS EASY, SOMETHING IS FISHY!!!
@@WiseTreeeSuch tactics are nothing new. Since last two decades, Desis like me have PERFECTED 3:13 this scheme. Now US IMMIGRATION is too alert when issuing TN 1 ( NAFTA VISA). The offer letter must match the REQUIREMENTS of your education and skills that validate the expectations of US IMMIGRATION.You must have an university education from a RECOGNISED UNIVERSITY, ( not HUMBER COLLEGE)
Hello old friend! I hope you remember. I have been trying to comment on your videos to educate your viewers. I predicted interest rate increasing back in August 2020 when you were just fresh off the boat and buying pre-cons. All this while, I was just following your journey to see when you start speaking the truth,, and turns out this video is the most important videe among both of your channels. cost of failure or rist taking is education, and it's good to see some good lessons learnt. Also good to see how you are using your platforms to educate other people.
I have already drafted my 2 year plan to leave Canada. Once I pay off my student loan am out… I already bought a house outside Canada. Am not wasting my life in this country that don’t want to improve
Hi Nav. I was born in Canada of British heritage. I left the country two years ago and moved to the US. I feel as though a lot of immigrants were lied to by the Canadian government to get them to move to Canada. There are no jobs, no homes, high taxes, high inflation, and very often the government doesn’t recognize foreign professional credentials. This makes it extremely difficult or impossible to work in your profession or trade.
Housing crisis will not go away. Canada must change its zoning rules to allow European-style multi-apartment condos in more places. Licensing requirements must also be relaxed so that specialists from abroad could get jobs in Canada if they already have license and experience in another country. Especially doctors and nurses - there is a terrible shortage of medical professionals in Canada
This! Our suburbs are making everything so expensive. Every house then needs multiple cars just to exist- such a huge expense. And then the traffic jams. Commuter culture is killing the Canadian dream.
Everything is well prepared in the video except for TFSA contribution suggested. You can't contribute $3000 per month in TFSA account. You can contribute only 7k per year per person.
We struggled a lot in last 7 years and couldn’t save anything. Finally we both have decent jobs, we are living below our means and saving so that we can move out in 3 years from now
Canada is not for dumb and stupid people...........................Its like 10th class fail getting into IIT - He will not get success. Trudeau gave lot of 10th class fail immigrant admission in IIT with easy PR and then citizenship.
You talk about Canada like it's one place, you know you can fit all of Europe in Canada. We have the Pacific and we have the Atlantic. Montreal , St John's, Vancouver have nothing in common, different governments, politics, culture and languages.
Great video and insights but I don’t think we can contribute 1k per month to tfsa. As the limit is 7k this year. So it’s more approximately 500 per month. But ofcourse can contribute to other margin accounts and get partially taxed as mentioned In later part of the video.
@@SuperKing604 Nope- we’ve properties and pay our taxes in addition to contributing to a ton of charities in Canada. So instead of harping your jealousy here, how about doing something for the greater good?
very good vedio but one correction please regarding the TFSA limit - most persons who have recently came to Canada would not have te contribution room of $1000 or $3000 to contribute to their TFSA per month. It is more like a 6k - 7k per year limit
TFSA contribution cannot be made when you live and work outside of Canada. Beware there are hefty penalties that would wipe out most of the savings. Make sure you get the complete information before deciding.
It's very concerning that 100,000 people are leaving a country like Canada every year. If 100,000 people were leaving Afghanistan every year that would make sense but Canada? That's a sign that something is very wrong that people are unaware about.
Four reasons I left Canada - 1. Over marketed on quality of life. For labour and refugees immigrants, it’s game changing to move to Canada but not for rare skill person or smart workers. Like Doctors, Engineers or Entrepreneurs, if you are making more than 80k/mo (1000 USD) in India - it may not make sense to move to Canada. 2. Medical sucks. Schooling is incompetitive. And the facilities is degrading. Surrey Roads are comparable to town roads of Tier2 countries. 3. Super slow on innovation. For buying an insurance, you need to go to a physical store. For transferring 5+ lakh INR, you need to go to a physical bank and stay hours in queue. Passport office takes your entire day. Even countries like India has solved all these problems, while these first world countries are yet to catch up. 4. Extremely bad weather. Snow everywhere. 7 months it’s get dark for 15+ hours. It’s a depressing environment.
This calculation is mind-boggling, completely shifted the persona around reverse immigration. 20cr in just fixed deposits can give 11.5 lac monthly just by keeping money in the bank.
Do you think the value of dollar will remain the same as it is today?and TFR of India is also on steep decline it's already below Replacement level , Elderly population will increase upto 25% before 2050
I have done same thing. I came to Canada in 2011, and instead of buying in Canada, I have a fully paid very nice 3BHK (in the range of 1.5cr) fully paid off. Just this year, I have enough saved on top of this which can generate Rs 1 lakh passive income / month. I am just 35. I can quit my corporate job, work remotely from India, may be take more risk and may be one day will buy a good detach -lake ontario facing hosue.
That's a solid plan and on the same lines I am going to buy primary home in Canada soon and I have some properties in India and will keep investing in India. Based on how things go in Canada who knows we may see better Canada and start investing in Canada as well
In 2004 I wrote a somewhat famous article called 'Top 8 reasons not to immigrate to Canada'. In short, the Canadian authorities tried to destroy my life. They made it so that I could not be employable in Canada. So I moved to the U.S. in 2005 and then some years later I moved permanently to the Philippines. I am happy that so many years later videos like yours are saying essentially the same things that I did. I was ahead of my time. I will never go back to Canada. Not to live, not to visit, not even a connecting flight. Too cold, too expensive, taxes are astronomical, no culture, no freedom, no jobs, no opportunities, only modern slavery, worst healthcare system, unbearable political correctness, crime infested/drug infested, xenophobic people, too depressing. It has become a North Korea style dictatorship in the western world. Their are many reasons why Canada has fallen apart. But the number one reason is ‘multiculturalism’. My friends, multiculturalism simply does not work. Different cultures do not come together and mix, different cultures come together and clash. The world is divided into different countries for a reason: because people hate each other and only want to be with their own kind. The number two reason for Canada’s demise is ‘socialism’. In this modern era of aging populations, it is mathematically impossible for socialism to continue. The government does not have the money to take care of old people and provide healthcare, pensions and the various other benefits, even with the astronomical taxation that burdens hard working Canucks. Well Canada, you had a good run. Time for Canucks to move to an emerging country. We welcome you here in Southeast Asia.
Spot on everything you said, sad but true. Your personal experience of Canadian government is no surprise to me. The real threat to freedom is the fascist elements which may prevail in the establishments.
If multiculturalism doesn't work, the why the hell you want people to move to south east asia? Or does it only not work when people are immigrating to western countries?
@@sagargiri758 Good question! I can only speak for myself. I am one person. Here in the Philippines there are 110 million people. Of which 99.8% are Filipino. So me being here in the Philippines does not contribute to any multiculturalism whatsoever. Also I have integrated and assimilated here. All my friends are Filipino and so is my GF. I am not imposing any foreign culture or religion onto people here.
Great information in the video Nav. The problem slide directly points to the low competition in Canada for majority of the businesses, which is the reason why there is no innovation and growth in the sector That translates to low productivity and high cost of living and low incomes. If you look at Canadas job market majority of the jobs were in public sector which is where we know productivity is very very low. Canada has lot of natural resources with which canada will survive but if canada does not fuel innovation and productivity this country will always have pressure from multiple ends. Canada will have to increase taxes in future. Further in near future CAD will be more cheaper as rate of interest go down. Meaning 1.7 or 1.8 cad to 1 usd ...how to plan for this change?? I am hopping for a change in 2025 which may bring some hope with multiple policy changes. Otherwise my strategy for now is to have primary home in Canada and invest everything in India or USA and move whenever things are clear that Canada is not growing much
I agree. But if canada is smart, they would reduce interest rates slower than US to stop their currency to depreciate. But with elections coming; they might be tempted to follow US - which will be a mistake, but as we have seen across the world politics >> economic health (Sadly)
..."Otherwise my strategy for now is to have primary home in Canada and invest everything in India or USA and move whenever things are clear that Canada is not growing much"... what does this even mean? Home in Canada - Canada is 9,984,670 km2 - 13 Provinces- Three territories - all of Europe can fit inside. Canada is not growing much? which part are you talking? it is at least five days to drive across Canada. Where I live on Vancouver Island - it is 8 hours to drive to the top of the island. One needs to learn about our geography and the many cultures and first Nations who call Canada home. Each Province has its own government, Canada is a British Parliamentary system just like England, each province also has the same type of government. the only thing common about each province is we all use the same money and if you have a Canadian passport you can move freely from province to province, but does not mean the Education you received in one Province is good in another, it is like that for everything. so using "Canada" to talk about Canada is silly. Every province is like a different Country. There is more in Common North and South then East and West. British Columbia has more in Common with Washington State then it does with Alberta let alone Ontario.
If canada reduces their taxes a little then more people would be keen on moving to a country like canada and be able to develop the Canadian economy and give more jobs to Canadians in canada!
your entire maths goes for a toss if we consider whats going to happen in another few years when the dollar value is expected to go for a toss against currencies like INR etc
What he is not telling you is that there's a yearly contribution limit to TFSA, that is you can NOT invest more than $7000 a year as of 2024. So you can not contribute $1000 every month like he is saying! very misleading
Thank you Nav. In addition to your plan on retiring in India, I would like to add 'Universal Life Policy' where we can invest our money & (partial) withdraw it without tax implication (after 20 or 30 years). Only cons with UL is most of insurance companies charging comparitively higher MER (approx 2.3 to 2.7)than vanguard or other fund house.
Many retirees may want to work full-time part-time or seasonal, but not every company will hire them, although most of them are very productive. Too much bureaucratic bs. many can do online or other business, but taxation, rent a place is not viable.
Not Buying a Primary House and renting for 30 years no matter where you retire is brain freeze. Renting will max out your savings even with avg inflation rate even though game has changed a lot after covid.
What is the benefit of coming to Canada now? When Canada opened up in the seventies, there were many advantages to coming to Canada. Back then there was a lot of work in the lumber industry in western Canada and big factories in eastern Canada. In those days, if you were willing to do any work, you would get a job within 8-10 days. In 1990, a bachelor apartment went for $500 a month and a one-bedroom was $600 a month. Almost all would get their 3-4 bedroom house within 10 years. Groceries used to be so cheap that $200 a month could support the entire family. The telephone bill was $10 per month. A Vancouver-Toronto bus ticket was only $100. School education was good, children had to give exams. It used to be very easy to see a doctor. Buses were less crowded. Now the standard of education has gone down so much that children become like robots after finishing school. If you have to go to the hospital, you have to wait for 8-10 hours to see the doctor. New immigrants find basements for shelter. Getting your own house has become a dream now. Those who have bought houses will have to pay the mortgage for a long time. Many homeowners are paying interest only, there is no reduction in the principal. Bus service is so sparse that sometimes more than 100 passengers wait for a 38-seater bus. International students are in a very bad situation. Spend 25-30 lakhs, live 4-5 together in basements and do hard labor jobs (warehousing, retail cashier, security). Even if they do 2 years diploma they do not get any good job, only minimum wage jobs. Those with good jobs or jobs (income of eighty thousands or more) should come to Canada with a lot of thought, because when they come here, they are all considered workers and they have to find low-paying jobs and have to live in often in basements. Prof. Kuldip Pelia Surrey, Canada
I think we need to have a relook at your perspective. Economic immigration to Canada is just about 200k every year. So we need to see what kind of immigrants are leaving Canada. The impact could be really high as most there is no or less increase in the younger/tax paying Canadians.
The Canadian immigration rate has always been kept in the 350K-500K range. It was only during the JT Liberal era that the numbers have skyrockets. The 1M immigration number is also a consevative one as the Federal Liberals have no clue how many TFW and foreign students they actually let in. Wife and I are currently researching places to retire outside Canada. We love Canada but it's so mismanaged fiscally, COL is unbearable and the political system is simply broken. No political party or politicians are interested in solving these issues and only interested in surviving the next election or pilfering as much as they can before leaving office.
There is a push for Immigration because we have no birth rate and we are aging out- about 40% of Canada is over the age of 65. eventually without birthrate, there will be no workers, no one paying taxes, no money for roads and infrastructure. Just money going out- retirement- medical.
Nice video Navjyot. Super helpful. I'm following whatever you've shared to the T, almost Retirement in Canada is a dream I dread. Perhaps you could create a new video which gives the FIN or the $ needed to retire in Canada.
Great analysis Navjot as always, however, I am very bullish on Indian economy and strongly believe that down the line, the dollar value will not be the same. Therefore, if the plan is to retire in India, some of the Investment must go to India in stocks, bonds or real estate :)
@@screwfeaar Unfortunately haven't started yet, exploring options. Have recently started in TSX. But the best way to invest in India is SIP or direct equities from NRI or NRO account.
@@lakeofbays1622 what's the number of non-pr leaving? The fact is non-pr used to slog for years and get PR status, this charm is slowly fading away. Societies are built with people settling down and buying houses and so on... people come and people go does nothing for long term prosperity
@@sid6849 June ending 2022 as far as what I read from Government statistics approximately 33500 people left Canada. Approximately 1 million people came in. This does not look like Canada is losing population. Actually by end of 2023 Canadian population is going to exceed 40.5 million. Then you can report statistics the way you want. Figures don't lie. However liars figure.
@@sid6849 "Canada's population was estimated at 40,528,396 on October 1, 2023, an increase of 430,635 people (+1.1%) from July 1. This was the highest population growth rate in any quarter since the second quarter of 1957 (+1.2%), when Canada's population grew by 198,000 people. At the time, Canada's population was 16.7 million people, and this rapid population growth resulted from the high number of births during the post-war baby boom and high immigration of refugees following the Hungarian Revolution in 1956." So don't believe all the garbage coming out in youtube.
Great video as usual but the question I ask is by 2041 when I will lean towards old age what about my support.. I end up paying almost 40-50%of my salary in tax for other retired population, but when I retire what will I get? I as a new comer struggling to get a proper healthcare and family doctor... Special doctors give appointments in months... When I grow old, do you think this will change? It's a matter of basic security. And I don't feel secure after moving here. My life was lot more secure back home in India amenity wise. Multispeciality hospital was inchaway.insurace covered almost everything..what now?
Very objective and comprehensive dissection of facts on the ground 👍. Thanks for all the granular analysis, gives a pretty clear picture of Canada for immigration.
Very insightful, keep up the good work….. Also, can you make an other video about your take and experience on financial investment and retirement savings ?
What are your views on universal basic income would that help control inflation or totally turn the tables on the wrong side? Please provide your understanding
U didn't mention Debt took under Trudue 700 B to 1.4 Trillions, that need pay back, spend like Drunken soldier, (also part of WEF program. Make miserable for people) For 1.4 T debt service is 55 B/it will go up. Deficit 40 B, need to borrow 100 B / Year
I ll tell you this as a foreigner and never lived in Canada , Any country where West has social/economic influence will be like this maybe not today nor tomorrow but someday. Developing countries with potential will copy these awful policies because of this misbelief that anything that comes from west (North America/Europe) should work just fine. If Canada still on the game our sh*t hole country also will do fine...... Punishing success to reward resentful and entitled groups and worsening corruption. Just in case you want financial freedom BOOM more taxes but never a solution for strugglings of the majority.
Nice content, I think the presentation is too bright in white background when you watch on TV. Just a suggestion to use some lighter colour. Thank you.
It’s not just about retirement it’s about living today which has gone worse, who care about retirement whn one does not know if you will live enough to be in retirement
@@growwithnavNo Sir, Not yet I do property investments in India. But I must say your videos are very informative better :) than the rubbish ppl do on youtube showing their personal life stories, who care what they do
Importing villagers from 🇮🇳🇨🇳 for slavery in 🇨🇦to feed local pensioners 😱 doesn’t worth your golden age of your life in this state . Manufacturing moving to Maxico , big business to 🇺🇸. It’s not 🇺🇸🇪🇺 Dear 🇨🇳🇮🇳 don’t waste your time and energy in 🇨🇦🙏🙏🙏
The Canadian Population has grown by record numbers over the last 10 years. In 1950 Canada had a population Of 14 million. Now, it has 40 million, roughly the size of the greater Mumbai City area. That is amazing growth, and, yes it comes with some growing pains.
Good one but there is very basic flaw in your calculations! The limit of TFSA is 7000 CAD per year per person! How can you invest 3000 per month in TFSA or even 1500 per month per person? That's not possible... (Did I miss something here ?)
I have been in Canada for 2 years so far, and for the reasons you are explaining in this video, I haven't made up my mind yet if I'd be better off selling my property in my home country. Currently, the world is kind of unpredictable, and only time will tell what the future holds for us. If the China-US tensions, for instance, unfold into a full-scale war one day, I am afraid seeking a cozy spot in this world would become even harder than it is now.
Thanks a lot Navjot, for your insightful analysis of these numbers, you never miss to hit the nail on the head! :) Some thoughts with retire in India plan for immigrants: 1. Practically thinking, 30 years is really long time horizon and correct way to look at it, by that time, most of the friends and family dynamics must have changed in many ways. Plus priorities can change. Which financially and emotionally might make sense today not necessarily will make lot of sense at that time. So in case if someone is planning to Retire in India must also prepare backup plan if after 30 years they want to Retire in Canada instead it will be a game changer and can force you to go back to work in that age, which will not potentially will be not very nice situation financially. any thoughts? 2. There will be also big expenses like children study into university(anywhere they like US/Canada/Ind) , they will not necessarily like the plan to go back and might be looking at you for some sort of financial support can become part of equation, of course not applied on everyone. 3. Other factor is marriage, Indian marriages are mostly lavish especially if you are NRI. Of course not applied to everyone and lot of moving variables. if you plan to retire in India must have some investment properties back home as well as a support. As per Indian Real Estate market prices once go up I have never seen coming back like we see here fluctuations just like a share market. 4. Health care in India can potentially be very costly. Disclaimer: not a financial advice, do your own due diligence.
3. Not correct. Look into Tier 1 and 2 cities. Price’s fluctuation as per economy. 4. Have a good health insurance or get into government hospital as per preference.
I'd like you to also tell the quality of immigrants coming to canada, what kind and type of economic add on these immigrants are contributing. Are these immigrants coming here with rare ideas in thier mind ? Or they just have a dream of driving a truck or do some kind of theft or scam ....
Hey Navjot! Thanks for the video, super informative,as aslways! 😊. Would it be a good idea to minimize/stop contributions to TFSA if we intent to buy a house between 2024 Q4 and 2025 Q1? Its best put the money to down payment and avoid the risk of stocks until closing, right?
You should max out your FHSA first in my opinion (before TFSA) - this requires more elaborate planning - I worked and saved aggressively without putting money into TFSA - but your situation can be very different
You may buy 1 year Redeemable GIC into TFSA for your down payment as short term investments. This applies if you have maxed out your FHSA and have contribution room available in TFSA.
If you are planning to buy home, then I would suggest to invest first in FHSA and RRSP as both will help in tax saving and can be used for down payment. After that you can start investing in TFSA
If someone is a Canadian citizen and not doing well in Canada right now , they should leave … if ever Canada starts doing better , they can always come back … no need to spend the good years struggling , not saving and living in cold weather
Good luck with that. New Zealand not only has an even higher cost of living than Canada, the locals also treat anyone immigrating very poorly. Do your research. Nice place to visit. That's about it.
Great video, Can you make a video on direct me to channels which explains tax and immigration process to india. I have questions like do we take canada citizenship and oci and live in india or we re new our or cards. How would OCI taxation look like?
With your decision to become a mortgage agent at the worst possible time and investing in a city KW, that has seen the largest decline in prices from the peak and getting blacklisted by the United States government from entering the USA, you should seriously too think about going back to Chandni Chowk.
Me and my wife left last week.
Congratulations!!! You took the correct decision.
good choice , now spread the word !
Only paindo Punjabis go to Canada 😅
Why can u plz tell me
Congratulations🎉🎉🎉
Thanks Nav. I have been in Canada for the past year and half. I am originally from India but now a British citizen. I was in Canada on a work permit but now moved back to uk. we did seriously consider migrating but there are so many thing that u have highlighted in your video. However I would like to add a very important point that you have not touchd upon. Its the school education system and then further education. The school education is tremendously relaxed, does not prepare children for the real world and then there is lot and lots of indiscipline. Mind u I was living in Oakville which is believed to be one of the posh places to live in Ontario. Many schools do not have proper class rooms. My girls who were in Class 6& 8 use to sit a porta cabin which was there class room.
Thereafter there is a serious bottleneck if ur child wishes to pursue a career in Life Sciences. Sorry, but if u were to ask me then Canada is a serious waste of time tbh.
May I know why you initially decided to move out of UK, UK is always a better place with more jobs was my tought
Correct. Everything is doomed here. I am planing to move out asap to better life and place for my kids
bro you have churned out a very high quality content after a very long time:) awesome presentation backed by numbers and not retorics.
This is really detailed. Thank you for the work you committed to this.
I've lived in a town in a western country for 50 yrs. Population 25,000 (near major cities that are very diverse/liked). Until 3 years ago, most citizens in my town would RARELY have described our home as a "college town". If ever. Even though the college opened 6 decades ago. Even though it has always had a good reputation (and many programs). Even though we've liked it a lot. When the college was talked about, it was seen as a place where many minds go to learn every semester. To embrace a career. Plus international students of all races (like our town of numerous races) were seen as adventurers wishing to also learn about our country. Perhaps one day they would wish to stay in our country. Why? Because they grew to like it (and it's people) and wish to remain involved.
These thoughts have changed IMMENSELY. Since 2019, many long-term citizens feel like our college classrooms and dollar stores and convenience stores and hotels/motels/homes and restaurants have all quickly turned into a BIG immigration system for thousands of Indians wanting PRs. I sound cruel but I'm not a cruel person. I'm just concerned by the high-pace and high-volume (housing prices are SOARING) ... and about exactly how things in town are changing too. Because rich Indian men are also very quickly buying many of the above places (minus college), AND they are changing things in ways where someway/somehow (by a far margin) eventually the Indian boss benefits most ... followed by people HE trusts (and 90% are Indian).
Longtime citizens are feeling more and more hurt by their sudden firings, by their hard-earned invoices (for completed work) not being paid, by feelings of discrimination in multiple areas i.e. intangible services. The common denominator is centering around power-driven MEN (raised in India). They appear kind, yet occasionally not (in a strange way that's hard to explain). We regularly see them not appreciating their Indian staff! Especially women. So much so that I Googled "caste system" recently. Something I never was interested in doing before.
I'm surrounded by fun citizens who have strived to be kind, racially-diverse-oriented, and WELCOMING people. But now they're not knowing what to think. And the concerned are not all white ... nor non-Asian. Our city friends are saying the same while witnessing a very sharp spike in Indians claiming asylum at the airports. Scamming being discovered more & more as even Indians (who immigrated decades ago) complain about it.
Most citizens here are not rich. Most are middle to low. We have a homeless crisis happening since pandemic. We lack space and infrastructure etc., for a tidal wave of people. India is deemed a safe country with potential ... that doesn't meet refugee status. So everyone is wondering "what's up".
PS Many Indians we've met are great. It's a select few ... plus the PR frenzy ... & maybe caste sometimes ... that's causing concerns. And we know our country's leaders have made some mistakes along the way in regards to wanting immigration vs ability.
India is 1.4 billion population which is roughly 18% of the world. So when you talk about India you are talking about 18% of world. Whereas In India , Canada is considered as country harbouring terrorists for its political interests.
Very well put together, thank you. I thought this mass influx of Indians was taking place only in Toronto, but no, it's everywhere.
Sad. I have written to Mr. Miller to put in a quota system.
Jagmeet Singh and his khalistani friends are the reason for your troubles
@manh9105 Plus, all the other hundreds of thousands of Indians, many modi supporters, quitting India every year.
@@AxAz12515 GUJJUS...But, Gujjus ( unlike Punjabis) intend to utilise Canada as a TRANSIT POINT. Their aim is to use Canada as a STOP GAP to sneak into USA.
This is what I have been talking to my friends and they look at me like someone who is always cribbing. A very good video with good explanation Nav. Rise and Shine 🧿
Very well explained. Keep up the amazing work, you are helping alot of folks around.
Very informative as always! Thanks for making it simple and to the point.
He himself brought his brother; sister; sister in law; brother in law and now all of them will produce kids here - No use of such population to Canada. He and his wife himself came using fake documents when thy were not even having jobs in India.
My nephew and his wife migrated from Brazil to Canada, got citizenship, bought a house in Vancouver, and lived there for some four or five years. They recently moved to Tampa.
Now when we are close to immigrating to Canada, now this video comes. This video needs maximum share
Wishing you the best 🙌
Come to Canada, do not invest in real state, don’t take any car loan or home loan, just survive for 3 years with minimal liability, get Citizenship and move to USA.🇺🇸
NO....Please don't come to Canada. :)
Before planning to immigrate to Canada, you should had done your Home Work. Canada is a DEAD nation, now. One should realise that if IMMIGRATION IS EASY, SOMETHING IS FISHY!!!
@@WiseTreeeSuch tactics are nothing new. Since last two decades, Desis like me have PERFECTED 3:13 this scheme. Now US IMMIGRATION is too alert when issuing TN 1 ( NAFTA VISA). The offer letter must match the REQUIREMENTS of your education and skills that validate the expectations of US IMMIGRATION.You must have an university education from a RECOGNISED UNIVERSITY, ( not HUMBER COLLEGE)
Hello old friend! I hope you remember. I have been trying to comment on your videos to educate your viewers. I predicted interest rate increasing back in August 2020 when you were just fresh off the boat and buying pre-cons. All this while, I was just following your journey to see when you start speaking the truth,, and turns out this video is the most important videe among both of your channels. cost of failure or rist taking is education, and it's good to see some good lessons learnt. Also good to see how you are using your platforms to educate other people.
Here is my next prediction - Canadian Dollar will fell from 1.3 to 1.7 compare to US currency.
@canadianindian1918 This is 100% correct as the rate of interest go down value of money will drop hence cad will be more cheaper
I have already drafted my 2 year plan to leave Canada. Once I pay off my student loan am out… I already bought a house outside Canada. Am not wasting my life in this country that don’t want to improve
Wonderful analysis Navjot ! Really liked that you are transparent and honest in your approach and not sugarcoating anything
Thank you Navjot. This gives me answer to my all my 'What if 'questions.
🙌🙌
Hi Nav. I was born in Canada of British heritage. I left the country two years ago and moved to the US. I feel as though a lot of immigrants were lied to by the Canadian government to get them to move to Canada. There are no jobs, no homes, high taxes, high inflation, and very often the government doesn’t recognize foreign professional credentials. This makes it extremely difficult or impossible to work in your profession or trade.
Housing crisis will not go away.
Canada must change its zoning rules to allow European-style multi-apartment condos in more places. Licensing requirements must also be relaxed so that specialists from abroad could get jobs in Canada if they already have license and experience in another country. Especially doctors and nurses - there is a terrible shortage of medical professionals in Canada
This! Our suburbs are making everything so expensive. Every house then needs multiple cars just to exist- such a huge expense. And then the traffic jams. Commuter culture is killing the Canadian dream.
Incredible technical economy education for immigrants including expatriates. I love it n wish your youtube account grows successfully ❤
Thank you 🙌
Everything is well prepared in the video except for TFSA contribution suggested. You can't contribute $3000 per month in TFSA account. You can contribute only 7k per year per person.
He mentions that. Thats why he says its partially tax free
Thank you Nav 🙏🏼
Amazing. Really knowledge videos. Appreciate your time spent on research and calculations
We struggled a lot in last 7 years and couldn’t save anything. Finally we both have decent jobs, we are living below our means and saving so that we can move out in 3 years from now
Canada is not for dumb and stupid people...........................Its like 10th class fail getting into IIT - He will not get success. Trudeau gave lot of 10th class fail immigrant admission in IIT with easy PR and then citizenship.
Irony is we work more harder to leave than the amount of hardwork while coming.
This is such an eye opener for immigrants. Not every one can achieve financial freedom in Canada. We got to work on math what's working for us 👍
Thank you Venkat 🙌
True
You talk about Canada like it's one place, you know you can fit all of Europe in Canada. We have the Pacific and we have the Atlantic. Montreal , St John's, Vancouver have nothing in common, different governments, politics, culture and languages.
yeah the fact there is mortgage in your name we all know how you achived it
@@stephenletts4942 the Canadian economy is broken everywhere. Coast to coast.
I like this objective discussion. It's more useful rather than just those driven by emotions.
I also leave Canada last week
Awesome advice!
Great video and insights but I don’t think we can contribute 1k per month to tfsa. As the limit is 7k this year.
So it’s more approximately 500 per month.
But ofcourse can contribute to other margin accounts and get partially taxed as mentioned In later part of the video.
1000 if couple, he said
500 per person is what he meant indirectly
Thank you. Well explained. Clear and encouraging.
So true, I made a video on the same topic and people seem to not understand it still
We just moved to the USA after acquiring Canadian citizenship ❤
So u used canada have some shame!
@@SuperKing604 Nope- we’ve properties and pay our taxes in addition to contributing to a ton of charities in Canada. So instead of harping your jealousy here, how about doing something for the greater good?
@@JakesRandomAdventures you did something for the greater good by leaving
very good vedio but one correction please regarding the TFSA limit - most persons who have recently came to Canada would not have te contribution room of $1000 or $3000 to contribute to their TFSA per month. It is more like a 6k - 7k per year limit
Excellent video!!
TFSA contribution cannot be made when you live and work outside of Canada. Beware there are hefty penalties that would wipe out most of the savings. Make sure you get the complete information before deciding.
It's very concerning that 100,000 people are leaving a country like Canada every year. If 100,000 people were leaving Afghanistan every year that would make sense but Canada? That's a sign that something is very wrong that people are unaware about.
An excellent calculation like a financial expert
Four reasons I left Canada -
1. Over marketed on quality of life. For labour and refugees immigrants, it’s game changing to move to Canada but not for rare skill person or smart workers. Like Doctors, Engineers or Entrepreneurs, if you are making more than 80k/mo (1000 USD) in India - it may not make sense to move to Canada.
2. Medical sucks. Schooling is incompetitive. And the facilities is degrading. Surrey Roads are comparable to town roads of Tier2 countries.
3. Super slow on innovation. For buying an insurance, you need to go to a physical store. For transferring 5+ lakh INR, you need to go to a physical bank and stay hours in queue. Passport office takes your entire day. Even countries like India has solved all these problems, while these first world countries are yet to catch up.
4. Extremely bad weather. Snow everywhere. 7 months it’s get dark for 15+ hours. It’s a depressing environment.
Thanks for sharing insights!! Again an informative video!
Thanks 😊
What he is not telling you is that there's a yearly contribution limit to TFSA, that is you can NOT invest more than $7000 a year as of 2024.
but Canadian minister was telling to media that our economy is very well structured and there is no house crisis ???
So glad to see Navjot grow so good ! Hope to hear from u...if at all you would remember me 😅
Excellent Content 👍👍
This is insightful, and the numbers make a lot of sense. Thank you, Navjot! More power 🙌🏻
Thank you 😊
What he is not telling you is that there's a yearly contribution limit to TFSA, that is you can NOT invest more than $7000 a year as of 2024.
This calculation is mind-boggling, completely shifted the persona around reverse immigration. 20cr in just fixed deposits can give 11.5 lac monthly just by keeping money in the bank.
🙌💯
Do you think the value of dollar will remain the same as it is today?and TFR of India is also on steep decline it's already below Replacement level , Elderly population will increase upto 25% before 2050
💯 great plan
I have done same thing. I came to Canada in 2011, and instead of buying in Canada, I have a fully paid very nice 3BHK (in the range of 1.5cr) fully paid off. Just this year, I have enough saved on top of this which can generate Rs 1 lakh passive income / month. I am just 35. I can quit my corporate job, work remotely from India, may be take more risk and may be one day will buy a good detach -lake ontario facing hosue.
@@canadianindian1918 Wonderful
That's a solid plan and on the same lines I am going to buy primary home in Canada soon and I have some properties in India and will keep investing in India.
Based on how things go in Canada who knows we may see better Canada and start investing in Canada as well
@sheeravtales Yeah. Just on safer side we should continue to invest little bit in India
Same in Australia and most of Europe.
Wow Navjot.....big fan of your numbers and detailing ❤
What he is not telling you is that there's a yearly contribution limit to TFSA, that is you can NOT invest more than $7000 a year as of 2024.
Presentation was top notch. Very insightful 🎉
What he is not telling you is that there's a yearly contribution limit to TFSA, that is you can NOT invest more than $7000 a year as of 2024.
4 of my freinds already left. Same thing in Montreal.
In 2004 I wrote a somewhat famous article called 'Top 8 reasons not to immigrate to Canada'. In short, the Canadian authorities tried to destroy my life. They made it so that I could not be employable in Canada. So I moved to the U.S. in 2005 and then some years later I moved permanently to the Philippines. I am happy that so many years later videos like yours are saying essentially the same things that I did. I was ahead of my time. I will never go back to Canada. Not to live, not to visit, not even a connecting flight. Too cold, too expensive, taxes are astronomical, no culture, no freedom, no jobs, no opportunities, only modern slavery, worst healthcare system, unbearable political correctness, crime infested/drug infested, xenophobic people, too depressing. It has become a North Korea style dictatorship in the western world.
Their are many reasons why Canada has fallen apart. But the number one reason is ‘multiculturalism’. My friends, multiculturalism simply does not work. Different cultures do not come together and mix, different cultures come together and clash. The world is divided into different countries for a reason: because people hate each other and only want to be with their own kind. The number two reason for Canada’s demise is ‘socialism’. In this modern era of aging populations, it is mathematically impossible for socialism to continue. The government does not have the money to take care of old people and provide healthcare, pensions and the various other benefits, even with the astronomical taxation that burdens hard working Canucks. Well Canada, you had a good run. Time for Canucks to move to an emerging country. We welcome you here in Southeast Asia.
Spot on everything you said, sad but true. Your personal experience of Canadian government is no surprise to me. The real threat to freedom is the fascist elements which may prevail in the establishments.
The US authorities also destroyed your life?
If multiculturalism doesn't work, the why the hell you want people to move to south east asia?
Or does it only not work when people are immigrating to western countries?
If multiculturalism doesn't work, then why do you want people to move to other developing nations?
@@sagargiri758 Good question! I can only speak for myself. I am one person. Here in the Philippines there are 110 million people. Of which 99.8% are Filipino. So me being here in the Philippines does not contribute to any multiculturalism whatsoever. Also I have integrated and assimilated here. All my friends are Filipino and so is my GF. I am not imposing any foreign culture or religion onto people here.
Great information in the video Nav.
The problem slide directly points to the low competition in Canada for majority of the businesses, which is the reason why there is no innovation and growth in the sector
That translates to low productivity and high cost of living and low incomes.
If you look at Canadas job market majority of the jobs were in public sector which is where we know productivity is very very low.
Canada has lot of natural resources with which canada will survive but if canada does not fuel innovation and productivity this country will always have pressure from multiple ends. Canada will have to increase taxes in future. Further in near future CAD will be more cheaper as rate of interest go down. Meaning 1.7 or 1.8 cad to 1 usd ...how to plan for this change??
I am hopping for a change in 2025 which may bring some hope with multiple policy changes.
Otherwise my strategy for now is to have primary home in Canada and invest everything in India or USA and move whenever things are clear that Canada is not growing much
I agree. But if canada is smart, they would reduce interest rates slower than US to stop their currency to depreciate. But with elections coming; they might be tempted to follow US - which will be a mistake, but as we have seen across the world politics >> economic health (Sadly)
..."Otherwise my strategy for now is to have primary home in Canada and invest everything in India or USA and move whenever things are clear that Canada is not growing much"... what does this even mean? Home in Canada - Canada is 9,984,670 km2 - 13 Provinces- Three territories - all of Europe can fit inside. Canada is not growing much? which part are you talking? it is at least five days to drive across Canada. Where I live on Vancouver Island - it is 8 hours to drive to the top of the island. One needs to learn about our geography and the many cultures and first Nations who call Canada home. Each Province has its own government, Canada is a British Parliamentary system just like England, each province also has the same type of government. the only thing common about each province is we all use the same money and if you have a Canadian passport you can move freely from province to province, but does not mean the Education you received in one Province is good in another, it is like that for everything. so using "Canada" to talk about Canada is silly. Every province is like a different Country. There is more in Common North and South then East and West. British Columbia has more in Common with Washington State then it does with Alberta let alone Ontario.
If canada reduces their taxes a little then more people would be keen on moving to a country like canada and be able to develop the Canadian economy and give more jobs to Canadians in canada!
your entire maths goes for a toss if we consider whats going to happen in another few years when the dollar value is expected to go for a toss against currencies like INR etc
What he is not telling you is that there's a yearly contribution limit to TFSA, that is you can NOT invest more than $7000 a year as of 2024. So you can not contribute $1000 every month like he is saying! very misleading
As tfsa limit is 6k per year , investing 1000$ / month is not possible.
He was saying $500 per person. As a couple it is $1000.
Thnx @@VenkatGrayEyeMortgage. I missed that
You can also invest in other registered accounts if you are high income to save on tax 🙌
TFSA limit for 2024 is $7000
What you are not aware of is that there's a yearly investment limit to TFSA, you can NOT invest more than $7000 a year as of 2024.
Thank you Nav. In addition to your plan on retiring in India, I would like to add 'Universal Life Policy' where we can invest our money & (partial) withdraw it without tax implication (after 20 or 30 years). Only cons with UL is most of insurance companies charging comparitively higher MER (approx 2.3 to 2.7)than vanguard or other fund house.
Oops about to retire and was hoping the large and eager immigrant community would pay for it and keep the eco churning
Many retirees may want to work full-time part-time or seasonal, but not every company will hire them, although most of them are very productive. Too much bureaucratic bs. many can do online or other business, but taxation, rent a place is not viable.
All retirees should work for sure. But not because they have to, but because they want to 😀
Not Buying a Primary House and renting for 30 years no matter where you retire is brain freeze. Renting will max out your savings even with avg inflation rate even though game has changed a lot after covid.
What is the benefit of coming to Canada now?
When Canada opened up in the seventies, there were many advantages to coming to Canada. Back then there was a lot of work in the lumber industry in western Canada and big factories in eastern Canada. In those days, if you were willing to do any work, you would get a job within 8-10 days.
In 1990, a bachelor apartment went for $500 a month and a one-bedroom was $600 a month.
Almost all would get their 3-4 bedroom house within 10 years.
Groceries used to be so cheap that $200 a month could support the entire family. The telephone bill was $10 per month. A Vancouver-Toronto bus ticket was only $100.
School education was good, children had to give exams. It used to be very easy to see a doctor. Buses were less crowded.
Now the standard of education has gone down so much that children become like robots after finishing school. If you have to go to the hospital, you have to wait for 8-10 hours to see the doctor.
New immigrants find basements for shelter. Getting your own house has become a dream now. Those who have bought houses will have to pay the mortgage for a long time. Many homeowners are paying interest only, there is no reduction in the principal.
Bus service is so sparse that sometimes more than 100 passengers wait for a 38-seater bus.
International students are in a very bad situation. Spend 25-30 lakhs, live 4-5 together in basements and do hard labor jobs (warehousing, retail cashier, security). Even if they do 2 years diploma they do not get any good job, only minimum wage jobs.
Those with good jobs or jobs (income of eighty thousands or more) should come to Canada with a lot of thought, because when they come here, they are all considered workers and they have to find low-paying jobs and have to live in often in basements.
Prof. Kuldip Pelia
Surrey, Canada
😂😂 Was planning to come to Canada. Now planning directly to Dubai
good idea, stay away from Canada
I think we need to have a relook at your perspective.
Economic immigration to Canada is just about 200k every year. So we need to see what kind of immigrants are leaving Canada. The impact could be really high as most there is no or less increase in the younger/tax paying Canadians.
The Canadian immigration rate has always been kept in the 350K-500K range. It was only during the JT Liberal era that the numbers have skyrockets. The 1M immigration number is also a consevative one as the Federal Liberals have no clue how many TFW and foreign students they actually let in.
Wife and I are currently researching places to retire outside Canada. We love Canada but it's so mismanaged fiscally, COL is unbearable and the political system is simply broken. No political party or politicians are interested in solving these issues and only interested in surviving the next election or pilfering as much as they can before leaving office.
So true. I love South France 😀
Great video! Very clearly explained why there's such a push for immigration
There is a push for Immigration because we have no birth rate and we are aging out- about 40% of Canada is over the age of 65. eventually without birthrate, there will be no workers, no one paying taxes, no money for roads and infrastructure. Just money going out- retirement- medical.
Exact analysis as me…. But you did it in details ❤
Nice video Navjyot. Super helpful. I'm following whatever you've shared to the T, almost
Retirement in Canada is a dream I dread.
Perhaps you could create a new video which gives the FIN or the $ needed to retire in Canada.
Awesome video 👏.. looking forward to see more
Great analysis Navjot as always, however, I am very bullish on Indian economy and strongly believe that down the line, the dollar value will not be the same. Therefore, if the plan is to retire in India, some of the Investment must go to India in stocks, bonds or real estate :)
india stock mkt. got me 22% returns in '23 .. impressive
Agree 💯
How you invest in Indian stock market? Using ETF listed in TSX or by transferring money to India and using Indian trading account?
@@screwfeaar Unfortunately haven't started yet, exploring options. Have recently started in TSX. But the best way to invest in India is SIP or direct equities from NRI or NRO account.
@@mihir40 Got it.
The most informative video in the whole web❤ . So should we just forget about CA and head straight to UAE and usa?
People leaving is a red alert however moreover people losing their ability to buy houses with lending standards only going to get strict
The leaving business is bit of an exaggeration. Most with PR get back in couple of years. Those without PR cannot get back.
@@lakeofbays1622 what's the number of non-pr leaving? The fact is non-pr used to slog for years and get PR status, this charm is slowly fading away. Societies are built with people settling down and buying houses and so on... people come and people go does nothing for long term prosperity
@@sid6849 June ending 2022 as far as what I read from Government statistics approximately 33500 people left Canada. Approximately 1 million people came in. This does not look like Canada is losing population. Actually by end of 2023 Canadian population is going to exceed 40.5 million. Then you can report statistics the way you want. Figures don't lie. However liars figure.
@@sid6849 "Canada's population was estimated at 40,528,396 on October 1, 2023, an increase of 430,635 people (+1.1%) from July 1. This was the highest population growth rate in any quarter since the second quarter of 1957 (+1.2%), when Canada's population grew by 198,000 people. At the time, Canada's population was 16.7 million people, and this rapid population growth resulted from the high number of births during the post-war baby boom and high immigration of refugees following the Hungarian Revolution in 1956."
So don't believe all the garbage coming out in youtube.
Great video as usual but the question I ask is by 2041 when I will lean towards old age what about my support.. I end up paying almost 40-50%of my salary in tax for other retired population, but when I retire what will I get? I as a new comer struggling to get a proper healthcare and family doctor... Special doctors give appointments in months... When I grow old, do you think this will change? It's a matter of basic security. And I don't feel secure after moving here. My life was lot more secure back home in India amenity wise. Multispeciality hospital was inchaway.insurace covered almost everything..what now?
Don't let the screen door hit you on the way out
So when are you leaving Canada? Do you have any statistics on number of people leaving Punjab every year?
Thank you
Navjot
Very objective and comprehensive dissection of facts on the ground 👍.
Thanks for all the granular analysis, gives a pretty clear picture of Canada for immigration.
Very insightful, keep up the good work….. Also, can you make an other video about your take and experience on financial investment and retirement savings ?
What are your views on universal basic income would that help control inflation or totally turn the tables on the wrong side? Please provide your understanding
Thank God.
Amazing stats👏
U didn't mention Debt took under Trudue 700 B to 1.4 Trillions, that need pay back, spend like Drunken soldier, (also part of WEF program. Make miserable for people)
For 1.4 T debt service is 55 B/it will go up.
Deficit 40 B, need to borrow 100 B / Year
I ll tell you this as a foreigner and never lived in Canada , Any country where West has social/economic influence will be like this maybe not today nor tomorrow but someday.
Developing countries with potential will copy these awful policies because of this misbelief that anything that comes from west (North America/Europe) should work just fine. If Canada still on the game our sh*t hole country also will do fine......
Punishing success to reward resentful and entitled groups and worsening corruption. Just in case you want financial freedom BOOM more taxes but never a solution for strugglings of the majority.
Us and Australia has more opportunities.
Nice content, I think the presentation is too bright in white background when you watch on TV. Just a suggestion to use some lighter colour. Thank you.
It’s not just about retirement it’s about living today which has gone worse, who care about retirement whn one does not know if you will live enough to be in retirement
Whatever works for you. It’s not compulsory to save / invest for retirement - everyone is different.
Do you have life insurance?
@@growwithnavNo Sir, Not yet I do property investments in India. But I must say your videos are very informative better :) than the rubbish ppl do on youtube showing their personal life stories, who care what they do
Importing villagers from 🇮🇳🇨🇳 for slavery in 🇨🇦to feed local pensioners 😱 doesn’t worth your golden age of your life in this state .
Manufacturing moving to Maxico , big business to 🇺🇸.
It’s not 🇺🇸🇪🇺
Dear 🇨🇳🇮🇳 don’t waste your time and energy in 🇨🇦🙏🙏🙏
brilliant explanation
👏👏
The Canadian Population has grown by record numbers over the last 10 years.
In 1950 Canada had a population Of 14 million.
Now, it has 40 million, roughly the size of the greater Mumbai City area.
That is amazing growth, and, yes it comes with some growing pains.
Canada was better with 26 million people.
Good one but there is very basic flaw in your calculations! The limit of TFSA is 7000 CAD per year per person! How can you invest 3000 per month in TFSA or even 1500 per month per person? That's not possible... (Did I miss something here ?)
Canada no longer needs sandwich makers or delivery drivers… if that’s your skills, stay back and atleast you save the consultant fees.
Thank god 🙏🏼☕️
I have been in Canada for 2 years so far, and for the reasons you are explaining in this video, I haven't made up my mind yet if I'd be better off selling my property in my home country. Currently, the world is kind of unpredictable, and only time will tell what the future holds for us. If the China-US tensions, for instance, unfold into a full-scale war one day, I am afraid seeking a cozy spot in this world would become even harder than it is now.
People are living Germany to. Food is expensive and Holiday. Time to go back in our country's.
Thanks a lot Navjot, for your insightful analysis of these numbers, you never miss to hit the nail on the head! :)
Some thoughts with retire in India plan for immigrants:
1. Practically thinking, 30 years is really long time horizon and correct way to look at it, by that time, most of the friends and family dynamics must have changed in many ways. Plus priorities can change. Which financially and emotionally might make sense today not necessarily will make lot of sense at that time. So in case if someone is planning to Retire in India must also prepare backup plan if after 30 years they want to Retire in Canada instead it will be a game changer and can force you to go back to work in that age, which will not potentially will be not very nice situation financially. any thoughts?
2. There will be also big expenses like children study into university(anywhere they like US/Canada/Ind) , they will not necessarily like the plan to go back and might be looking at you for some sort of financial support can become part of equation, of course not applied on everyone.
3. Other factor is marriage, Indian marriages are mostly lavish especially if you are NRI. Of course not applied to everyone and lot of moving variables.
if you plan to retire in India must have some investment properties back home as well as a support. As per Indian Real Estate market prices once go up I have never seen coming back like we see here fluctuations just like a share market.
4. Health care in India can potentially be very costly.
Disclaimer: not a financial advice, do your own due diligence.
3. Not correct. Look into Tier 1 and 2 cities. Price’s fluctuation as per economy.
4. Have a good health insurance or get into government hospital as per preference.
Very informative
An Informative share
🙌🙌
Good 👍 more peace and tranquility
I'd like you to also tell the quality of immigrants coming to canada, what kind and type of economic add on these immigrants are contributing. Are these immigrants coming here with rare ideas in thier mind ? Or they just have a dream of driving a truck or do some kind of theft or scam ....
Remember each province has its own jurisdiction.
Big like for your research, All I can give you is just one like and one subscriber
Hey Navjot! Thanks for the video, super informative,as aslways! 😊. Would it be a good idea to minimize/stop contributions to TFSA if we intent to buy a house between 2024 Q4 and 2025 Q1? Its best put the money to down payment and avoid the risk of stocks until closing, right?
You should max out your FHSA first in my opinion (before TFSA) - this requires more elaborate planning - I worked and saved aggressively without putting money into TFSA - but your situation can be very different
You may buy 1 year Redeemable GIC into TFSA for your down payment as short term investments.
This applies if you have maxed out your FHSA and have contribution room available in TFSA.
@@growwithnav Yes of course, we maxed 2023 and intent to do th same for 2024 FHSA. Was thinking about TFSA. Makes sense, thanks!
If you are planning to buy home, then I would suggest to invest first in FHSA and RRSP as both will help in tax saving and can be used for down payment. After that you can start investing in TFSA
If someone is a Canadian citizen and not doing well in Canada right now , they should leave … if ever Canada starts doing better , they can always come back … no need to spend the good years struggling , not saving and living in cold weather
I am moving to New Zealand on Jan 12. 2 more days to go. Kia Ora NZ
Good luck with that. New Zealand not only has an even higher cost of living than Canada, the locals also treat anyone immigrating very poorly. Do your research. Nice place to visit. That's about it.
@@nimbledoorco I wad in NZ till 2020. Now I'm moving back
Great video, Can you make a video on direct me to channels which explains tax and immigration process to india.
I have questions like do we take canada citizenship and oci and live in india or we re new our or cards. How would OCI taxation look like?
None exist.
You should talk to an accountant in India.
Finally found someone who states opinions based on facts.
With your decision to become a mortgage agent at the worst possible time and investing in a city KW, that has seen the largest decline in prices from the peak and getting blacklisted by the United States government from entering the USA, you should seriously too think about going back to Chandni Chowk.
Thank you! You opened my eyes 👀