Posted by JohnQ (216.166.228.231) on September 22, 2003 at 14:14:15:
In Reply to: Dee -- Canada posted by Raz62 (12.108.99.30) on September 22, 2003 at 11:47:46:
> Saw some sobering statistics on CNN yesterday (Try saying that 10x with a lisp) and it confirms what my family has been going through for the past four years (the entire time I supposedly "improved" my financial condition by quitting a part-time job with great benefits and a short commute for my current full-time job):
> *One in seven American families will declare bankruptcy by the year 2010
> *90% of bankruptcies are caused by unemployment, medical, or divorce
> *(Related to divorce) Women declaring bankruptcy have increased 600% since the 70s
> *A family headed by one breadwinner in the 70s making the average salary (high 20s) had a better standard of living than today's family with both parent's working making 80K annual
> My life illustrates the last one. My father worked in a construction job, Mom was full-time homemaker, and they now own a home worth a quarter of a million, they sent both my brother and me through 4-yr colleges for Bachelor degrees, and they travel a lot in their retirement (last trip was Russia/Poland, next trip (next May) is Scandinavia.)
> Now, my current family -- sig other has own business, I work fulltime, we together gross about 70K (but his business is variable). He has no benefits of course, and my benefit package is deteriorating to where I am paying off medical bills monthly through a collection agency -- even though I'm relatively healthy, just simple tests like an EKG or ultrasound costs hundreds. My kid's tuition: 2nd grader -- $2350 a year plus $120 a month aftercare; son -- $115 a week day care. Car insurance -- $ 125 a month. The best part -- rent is only $500 a month, but we can't get together a down payment to get our own home. But my landlord just told us that we might have to move 'cause he's selling the place and the new owner can choose not to rent to us. I have no savings for my kids to go to college and no pension at my job. I have only a few thousand in my 401K and I'm afraid I'll have to use it (penalties) just to get out of the hole; and I'm 41 so I should have more saved for retirement by now.
> As of this moment, we owe the electric and gas company hundreds of dollars and don't know where to get the money to avoid a shut-off. Our car broke down last weekend in the middle of the Boulevard and put my husband out of work for more than week (it's still not fixed). We don't do anything but eat at Burger King once a week and rent a few videos on the weekends. Our vacations were 3 days in North Wildwood in 2003; NOTHING in 2002; and a week at my in-laws in Wisconsin in 2001. Nothing before that, not since I was little and my parents took me on vacations. Oh, and our neighborhood is suddenly (only within past 5 years) looking more and more like the ghetto.
> OK I'll stop -- years ago I got tired of being with small-minded people in my hometown and so I moved to Manhattan. Now we are thinking about Canada -- seriously. We know we will have to deal with the snow/weather and also I will always think of myself as a United States of American. But we can't stand living like we are poor anymore.
Why would it be better in Canada? According to the above you are spending about $500 a month on childcare/education, $125 insurance, and $500 rent. You claim you don't waste any money, so where does the rest of your $2500+ net per month go? You should have $1200-$1500 floating around there somewhere.
Anyways, my point is, income and outflow are going to be similar anywhere, in that the one has to be more than the other and we all have the same sorts of expenses. How is a geographical change going to improve your circumstances?