What’s a comfortable salary in Toronto? Where you would feel like you could settle into long term without looking for other opportunities?

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SO & I are both around 150, feel comfortable to live now but not sure about when we start a family

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C2, how long have you been working? it is totally doable. I had more than 150k saved up (after spending a ton on wedding and stuff), paying rent (reduced bc of roommate), i had tuition paid off from my internships. mortgage was 30 yr amort at around 2%. You wrote the numbers yourself; at 2,340+utilities, why can't you manage with 120K TC? maybe you could look into your spending pattern? I also got approved for 700K mortgage, I had to only borrow 560K though (rest being downpayment and renos)

Income =\= wealth.

My partner and I make between 200-250K per year household income. However we just got these jobs this year, and I do not feel comfortable yet. Talk to me in five years after I’ve been comfortably making a living wage and saving…

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200k

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Yeah this feels about right.

This is so out of whack it hurts. I get it is about what you might have one day vs. what you have but still. Vast, vast majority of ppl never reach that in their lifetime and somehow make it work. What happened to having a little bit of a perspective? 300k hh and no kids, and super grateful because there are just no financial worries. And i think 150k he would be plenty to not have major financial worries. And isn’t that what it is about? No one promised you a five bedroom house, two cars, three annual vacations and five out of home meals a week as a birthright. Hustle and smile, and be willing to share

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True. I just think for overall happiness and also for the broad perspective we need to do a good job in our consulting work, it is important to not turn in Marie-Antoinette :P

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"Comfortable" will obviously be very subjective. major call outs would be kids, large student loan debt and home ownership (especially if you want a reasonably respectful detached home) that can throw the numbers out of whack.

Wife and I are at $400K HHI with no kids and our downpayment already saved. I wouldn't feel comfortable making less with children and a house on the horizon.

High level thresholds:
Single: $200K
Married: $300K
Married w/ kids: $400K

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I'd want closer to $800k to have kids.

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We’re making it happen with a kid at 180k together and house

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Do you find your budget to be tight? I'm not sure I could make those numbers work, especially with a kid. Are you naturally thrifty?

Serious questions though, what jobs normally pay 200k in Toronto? I know for Deloitte, you probably won’t make it until senior manager or close to partner

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IBanking, lawyers, private equity firms

So basically have to be a one percenter to be comfortable in Toronto (for Canada as a while 300k hhi but guess for Toronto must be higher thresholds). But to get to a one percenter salary you need to get a stressful job haha!

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We feel very comfortable at $400k HHI, own house in Riverdale ~$5500/month mortgage and then all the others costs that go with it. No other debt. No kids yet but hopefully soon.

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Thanks! Purchased in April 2020

Kids or nah

140k + DB pension +gov job

250k

Damn, I need to make more 😒

Me: 220k
S.O.: 90

No house, rent, no kids.

SM

I would not recommend a $2M home if your total HH income is under $300K without 30% DP or money / profit from a home sale. When my SO and I purchased our first home approx 6 years ago our total HH income was $290K and we had 25% down on a $1.3M price. Now our HH is $650K+ and perhaps in couple years can look at $2M+ home

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