Having worked in arts administration for most of his life, he has realized that the $58,000 annual salary he currently earns will be insufficient to fund his retirement
to leap into. “I’ve worked on contract for years and I could use a stable office job where I’m not working with the public,” he said.that he accrued by making only the minimum payments every month for 15 years. “I have ADHD and for many years I let my credit-card debt build up,” he said, adding that he used his credit cards for trips abroad, certifications and day-to-day expenses such as groceries. “I just let things slide, and one day it was $30,000.
He got a consolidation loan from his bank with an interest rate of 8 per cent and one monthly payment. And he decided during the pandemic to pay it off aggressively – after all, it’s not like he could eat out or travel – so only $1,100 remains.The downside of paying off his debts is that Alain now has little in savings. He recently joined his workplace’s group RRSP but has yet to contribute to it, and his Tangerinebalance stands at $4,500.
Alain also ensures that his rent doesn’t erode his savings; he shares an apartment with a roommate in downtown Toronto, paying $850 a month. He doesn’t drive, taking transit and using a bike to get around. However, he likes to splurge on eating out and travelling. In the past year he has visited Spain and plans to travel again in the fall. He lost a close friend a number of years ago and wants to ensure he enjoys his life as much as possible.
Alain dreams of buying a small condo, though he realizes that unless he starts saving a lot of his income – or upgrades to a better-paying job – that will be very hard to do. “I’d love to have a little place in Toronto or outside Toronto,” he said. “But I’m worried what I’ll be doing in the future,” he said. “I need to find a secure job with a pension if I’m going to be able to live here.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
TIFF set to lose lead sponsor Bell after a nearly three-decade partnershipTORONTO — The Toronto International Film Festival is set to lose Bell as its leading sponsor.
Lire la suite »
Most actively traded companies on the Toronto Stock ExchangeTORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (19,835.75, up 59.92 points): Toronto-Dominion Bank. (TSX:TD). Finance. Down 30 cents, or 0.37 per cent, to $80.37 on 6.3 million shares.
Lire la suite »
Israel Museum and Arts, Canada hosts pop-up and Roots celebrates 50th anniversaryPOP-UP Museum raised north of $500,000; SoHo House Toronto hosted celebration to mark the 50th anniversary of beloved Canadian brand Roots
Lire la suite »
CANADA: Return of live shows after COVID revived arts industry: StatCanReport says presenters of performing arts, sports and similar events hit hard by COVID-19 cancellations in 2020 and 2021 saw revenue increases of nearly 146 per cent in 2022, compared to the previous year
Lire la suite »
New Toronto bar accused of homophobia and discrimination in viral videoA relatively new Toronto bar that received an influx of one-star reviews during its first few months in operation is now being accused of having ho...
Lire la suite »
Auston Matthews reiterates love for Maple Leafs, city of Toronto following new four-year dealFollowing the news that Toronto Maple Leafs star Auston Matthews signed a four-year, $53 million extension to keep him in Blue and White through the 2027-28 season, he met with the media on Friday to discuss how the deal got done and his desire to remain a Maple Leaf.
Lire la suite »