Individual Income Poll

[bubbsy]

Originally Posted by undercoverbrother

http://www.lawyerratingz.com/SelectT...o&otcvid=55439

cough cough......

haha, took me a second to see where you were going with this

[clintb]

Originally Posted by Muta

Don't you just drive one over the border?

True... pick it up from the Trainyard and stick a used plate on

You're good to go

[polak]

fyi, Cars are ridiculously over priced in Poland. Everything else (besides gas) is dirt cheap if you were to ignore earnings and just look at dollar amounts.

[ranchlandsselling]

Would be interesting to see a better break down as well as family income. I feel pretty damn poor in comparison to a lot of my peers that work O&G but have a feeling I'd be pretty high here. Also think the level of poorness that I feel is a large part in relation to when I bought a home. Buying before they doubled with a similar downpayment size resulted in a much greater wealth and debt service amounts than buying post 2007.

Also, no really sure what counts? Salary, bonus, other income? What I report on my taxes?

I got a 23.5% bonus this year on my 2012 salary and got a raise this year, so I'm hoping for a pretty sizable bonus. Also I earned about $5,200 doing a bit of work on the side - do I count that?

Confusing.

[GP_Matt]

Originally Posted by bubbsy

now comparing that to toronto is a much different story. Earning 100K individually here really doesn't get you much. Any half decent home (detached, 2 garage, 2k sq foot) in a half decent area (burbs included) easily runs you 600-700K (plus the ~4k annual property tax).

What I wouldn't give to have a property tax bill of $4000.
In Grande Prairie property taxes are around 1.1% of the value of the house.

[GP_Matt]

Originally Posted by ranchlandsselling

Would be interesting to see a better break down as well as family income. I feel pretty damn poor in comparison to a lot of my peers that work O&G but have a feeling I'd be pretty high here. Also think the level of poorness that I feel is a large part in relation to when I bought a home. Buying before they doubled with a similar downpayment size resulted in a much greater wealth and debt service amounts than buying post 2007.

Also, no really sure what counts? Salary, bonus, other income? What I report on my taxes?

I got a 23.5% bonus this year on my 2012 salary and got a raise this year, so I'm hoping for a pretty sizable bonus. Also I earned about $5,200 doing a bit of work on the side - do I count that?

Confusing.

It is an anonymous internet poll, count whatever you want.
I counted the money I get from returning my recycling even though I also pay the deposit.

[troutman]

Difficult for people to say what their income is when they perform services through a professional corporation (many people in Calgary do so). Your taxable income can be very different from your take home.

[GGG]

Originally Posted by clintb

Not with the price of housing / property tax here

$100k nets you maybe 70?

After property tax, insurance and mortgage, you'd be lucky to have 30k to live off for the year

NOt gonna work for family of 4

We made it work for my wife to stay at home on less than 100k. It wasnt that bad. One of the big cost savings was me taking transit / biking to work and only having one car. It definately was a significant cut in spending money though to do it. We also bought our house planning on my wife staying home so we bought what we could afford.

[bizaro86]

Originally Posted by clintb

Calgary's 1% a bit higher than that

According to StatsCan, in 2010 the median income of a one percent-er living in Toronto was $301,200, while in Calgary it was $293,800.

http://www.huffingtonpost.ca/2013/01...n_2567149.html

That's kind of a goofy stat though. The median of the top 1% is the cutoff for the top 0.5%. I suspect most people would be more interested in knowing what the cutoff line is to be in the top 1%, and less interested in the distribution of income within that group.

For instance, for all of Canada the threshold in 2010 was 201k to be a 1%er, while the median among 1%ers was 283k. They don't give the thresholds for different metro areas.

[ranchlandsselling]

Originally Posted by GP_Matt

It is an anonymous internet poll, count whatever you want.
I counted the money I get from returning my recycling even though I also pay the deposit.

I already did it in 2011 or 2012, whenever the thread started. I was talking about if we broke it down further. Also I'm assuming I counted bonus and extra income last time.

Also wondered about what troutman said - earning money in prof-corp. But, probably still easy to guess what your average yearly earnings would be.

[bubbsy]

Originally Posted by GP_Matt

What I wouldn't give to have a property tax bill of $4000.
In Grande Prairie property taxes are around 1.1% of the value of the house.

bad estimation on my part. the range in the GTA appears to be between 0.9-1.3% of the property value.

[polak]

I wonder how the chart breaks down in age.

[GP_Matt]

The only solution is to roll out a mandatory long form census to all users.

I think one of the surprising things about Alberta is that there is a lot of opportunity for people to succeed at a young age. The industries are growing so promotions aren't limited to replacing people retiring.

[polak]

I know a lot of the people I graduated with last year are already pulling in 60-70K. That's quite impressive for 1 year out. Luck of the draw really. I thought I nailed down an awesome job for my work placement. It was a pretty competitive position (like all of the O&G ones) and I was thrilled when I landed it. Turned out to probably be one of the worst ones out of the bunch and one of the biggest regrets of my life to this point considering I turned down other roles for it.

We'll see how things play out in the next year for me...

[DownhillGoat]

Originally Posted by GP_Matt

The only solution is to roll out a mandatory long form census to all users.

I was thinking make everyone that votes scan the last 3 tax returns. Or at least the summary.

[GP_Matt]

Some of the grads we hire will pull in 100K their first year, but we make the University students spend their first few years in the field so that money comes from massive overtime and equipment rental revenue. (They buy quads and rent them back to us for profit)

[WilsonFourTwo]

I'd be much more interested in a poll that tries to capture what people spend to live in the city....it would be an interesting comparison against the salary data.

There are FAR too many variables to create a meaningful poll (family size, housing types, vehicles, personalities vs how discretionary income is spent) but it would be an interesting comparison.

Perhaps something like "% of Net Income spent on Housing (Mortgage, Tax, Ins), Transportation, and Groceries". I know I spend about 40% of net income each month....although the second property will push that to the 60% range.

[Jbo]

My opinion has changed quite a bit. When I was right out of Uni, money was everything. I bought a ton of crap I couldn't afford and didn't really need. (Condo/Huge TV) worked like a dog and had two weeks vacation a year.

I woke up one day and felt trapped. Hated going to work.

Decided I would change what was important. Spent 2 years zeroing out all my debt. Car, credit cards, everything. Tried to live as close to debt free as possible. I also moved into a new role that gave me flexible hours, work/life balance, good vacation.

Now at 29, the salary is catching up quickly. I have actually turned down a chance to move to new companies for 5-10K more a year. However, It is hard to beat 5 weeks a year vaykay, 8-4 working hours, and the freedom to do what I want. It has also been interesting to watch salary triple over 4 years that I spent not worrying about it. Find it funny that monetary success came when the last thing I was focusing on was salary.

[Ozy_Flame]

IMO, salary is not as important as it once was. I'm 30 and time is becoming more and more valuable to me now. As long as I can eat, pay for a roof over my head, and go for beers with the boys once in a while that's all that matters. If I can have at least a round of nine holes after work on a weekday, I'm happy as well.

I'd love to see an honest poll of debt accumulation too - then cross-analyze earning vs. spending and see where that leads

[ranchlandsselling]

Originally Posted by Ozy_Flame

IMO, salary is not as important as it once was. I'm 30 and time is becoming more and more valuable to me now. As long as I can eat, pay for a roof over my head, and go for beers with the boys once in a while that's all that matters. If I can have at least a round of nine holes after work on a weekday, I'm happy as well.

I'd love to see an honest poll of debt accumulation too - then cross-analyze earning vs. spending and see where that leads

Do you have a wife or kids?