How do you compare to other Canadians in terms of income, net worth, and spending?

[stinkynuts]

The Uneven Distribution of Canadian Income, Cash Flow, and Net Worth | The Measure of a Plan

Data on Canadian income / spending / cash flow / net worth, showcasing the financial gap the richest and poorest Canadians

themeasureofaplan.com

 

[stinkynuts]

Surprised that many Canadians are spending more than they earn, and that incomes are generally quite high, as well as net worth.

 

[angrymime666]

I aim my expenses at half my income approximately. Spend less than you earn...

 

[Nickelodeon]

From Charles Dickens, Mr Micawber, in David Copperfield:

“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness.
Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”

 

[Patron]

It would be equally interesting if some of the sex workers chimed in as to which quintile(s) they feel most of their work comes from, and which ones they feel their marketing is directed to.

These statistics aren’t that much different than the U.S., other than having more of a bottom third than a lowest quintile, and having greater disproportionality in the highest quintile. I feel that U.S. escorts market primarily to the top 20 percent of income earners / asset accumulators.

I was always amused by one of Montreal’s most expensive independent escorts who had a Twitter portion of her name that was The Socialist Slut. Most of the guys in Montreal could not afford her services. I must have either not understood Socialism when I studied about it in school, or I did not understand her. Perhaps she was Robin Hoodness, and fucked the rich guys for money and distributed most of it to the poor?

 

[seanzo]

I'm an odd ball. I was making boat loads of money right out of high school but I also spent every last penny of it on frivolous things. About a decade ago I decided what I was doing wasn't worth the hassle and took a massive pay cut but I was barely able to save any money at the time because my expenses were quite high. The job I'm at now pays better and I'm able to save money but I haven't been at it very long so my net worth is still pathetically low for my age

 

[stinkynuts]

It’s actually shocking how high the net worths are, even for the middle quintile.

The difference in wealth between the lowest two quintiles and the top quintile is mind blowing. Truly wealth inequality.

 

[stinkynuts]

It’s also interesting to know that the bottom three quintiles all spend similar amounts of money, despite having very different incomes. They are all trying to keep up appearances.

This means buying a house that they cant afford, a nice car, the latest iPhone, eating out, vacations, all on credit.

 

[boobtoucher]

I would bet that the middle quintile owns a house. A house that you bought for 400k, and is now worth a million adds 600k to your net worth, even if you haven't paid a penny on the mortgage.

It’s also interesting to know that the bottom three quintiles all spend similar amounts of money, despite having very different incomes. They are all trying to keep up appearances.

This means buying a house that they can afford, a nice car, the latest iPhone, eating out, vacations, all on credit.

Or maybe $60k is about what it costs to live/eat/get to work in Canada.

 

[Ponderling]

Or maybe $60k is about what it costs to live/eat/get to work in Canada.

We looked at what our household spends in most years
And the lockdown years of COVID had us down to about $45K.
But there was a distinct lack of 'fun money' spending in those years.

We are wife and I and 2 young adults sorta working still at home.
So I still pay all the household living expenses.
$65K a year in 2024 dollars is pretty common.

But we fall in the 4th quintile.
A big part of getting there was living below our means and focussing on investing for a few decades.
And having markets mostly run in our favour in those 30 some odd years

 

[LTO_3]

Sadly, I believe those stats. Have seen too many people spend waaay more than they make just for appearances sake but then "cry" years down the road when they say they're broke and have no savings.
Similar to what some have already mentioned, I also sacrificed for many years to save and invest so that I can sit back now and not have to worry about my financial future. That doesn't mean spending stupidly but I do indulge myself a lot more now than I did when I was working...and enjoying every minute of it while I'm still making money on my investments.

LTO_3

 

[Patron]

If it weren’t for income inequality, the high cost of living, the desire to have the finer things in life typically possessed by the upper classes and their children, and the tendency for wealth accumulation to occur in males in middle age and beyond, there would be no sex work.

When you talk to young women in sessions between cum #1 and cum #2, you often leave impressed by their travels and their possessions.

Des Karl wrote about sex work, and he disapproved of it. His teachings were followed in Eastern Europe, but when the Iron Curtain fell, it was entrepreneurial young women who traveled through Europe renting out the valuable patch of real estate between their legs. Or staying at home and acting in porn.

The only thing I find concerning in that graph is the spending in the lower quintiles. It is largely driven by inflation In necessities. Not all incomes have kept up with inflation, and for those whose income has not kept up, it is difficult to afford life’s luxuries that make life enjoyable.

 

[Ceiling Cat]

I do not live beyond my means, My portfolio is growing and have not paid any interest on my credit cards for over 25 years.

Not all incomes have kept up with inflation, and for those whose income has not kept up, it is difficult to afford life’s luxuries that make life enjoyable.

I believe the economy in the future won’t be as strong as in the past, with slower growth and higher inflation becoming ongoing challenges. Big changes from new technologies, shifting demographics, and an aging population will reshape industries and jobs in ways many won’t expect. Even those who prepare might still be caught off guard. However, those who make smart financial choices and adapt early could be among the few who have less to worry about, while most people who don’t plan ahead may struggle in an increasingly uncertain economy.

 

[Ceiling Cat]

I was always amused by one of Montreal’s most expensive independent escorts who had a Twitter portion of her name that was The Socialist Slut. Most of the guys in Montreal could not afford her services. I must have either not understood Socialism when I studied about it in school, or I did not understand her. Perhaps she was Robin Hoodness, and fucked the rich guys for money and distributed most of it to the poor?

She may have been the Ho with a heart of gold. She may have used some of her money to help people in need.

IMHO - Socialism aims to create fairness and equality, making sure no one is left behind. But in reality, it can sometimes lead to problems on both sides, those providing services and those receiving them. Many social service workers act like they are heroes, but in the end, they are just doing a job for a paycheck. Some lose their sense of duty and become lazy or see themselves as above the people they are helping. On the other side, some people come to expect these benefits as a right, demanding more and wanting things immediately, without thinking about who pays for them or if the system can keep up. While social programs are important, there needs to be a balance between offering support and encouraging personal responsibility. If either side forgets this, the system can turn into one that promotes dependency rather than real progress.

 

[Patron]

She may have been the Ho with a heart of gold. She may have used some of her money to help people in need.

IMHO - Socialism aims to create fairness and equality, making sure no one is left behind. But in reality, it can sometimes lead to problems on both sides, those providing services and those receiving them. Many social service workers act like they are heroes, but in the end, they are just doing a job for a paycheck. Some lose their sense of duty and become lazy or see themselves as above the people they are helping. On the other side, some people come to expect these benefits as a right, demanding more and wanting things immediately, without thinking about who pays for them or if the system can keep up. While social programs are important, there needs to be a balance between offering support and encouraging personal responsibility. If either side forgets this, the system can turn into one that promotes dependency rather than real progress.

I hope she was a Ho with a heart of gold, but I fear she was one of the countless young women who liked the idea of Socialism as a cool counter-culture thing, without appreciating the irony of running one hell of a capitalist enterprise herself that didn’t factor in whether everyone who wanted to fuck her could afford to do so. I was amused when a left-wing female leader (who was older and not terribly attractive) in the United Kingdom actually called a group of sex workers out on this irreconcilable difference when they lobbied her to support full decriminalization of sex work.

I have seen one escort advertise a discount for teachers in my life. Exactly one. Maybe she had quite the schoolgirl role play fetish, but she said she was doing so because she thought the are underpaid in the United States.

But this is a big problem in the U.S. A large percentage of the guys in the U.S. realistically can’t afford a visit to an independent escort, which are the ones a person can see with few concerns about law enforcement. Hopefully that is not as much the case in Canada, but it likely is something of a concern given the percentage from the graph who spend more than they earn.

 

[Ceiling Cat]

I hope she was a Ho with a heart of gold, but I fear she was one of the countless young women who liked the idea of Socialism as a cool counter-culture thing, without appreciating the irony of running one hell of a capitalist enterprise herself that didn’t factor in whether everyone who wanted to fuck her could afford to do so. I was amused when a left-wing female leader (who was older and not terribly attractive) in the United Kingdom actually called a group of sex workers out on this irreconcilable difference when they lobbied her to support full decriminalization of sex work.

As I mentioned in my last post, sometimes people who perform selfless acts are actually motivated by selfish reasons. The most cruel, self-serving person I know is a social worker who views herself as a savior of the world. Similarly, the sex workers in the UK who lobbied for the support of a left-wing female leader did so for their own interests.
These days, fewer people are choosing to become priests or nuns. In the past, I suspect many entered the Church not purely out of faith, but for the position, prestige, and power it offered, some even saw it as a way to escape poverty.

FYI – Regarding the Catholic Church: I heard a radio interview with a priest who mentioned that when he was ordained in Ontario, over 80 new priests entered the priesthood that year. Fast forward to the early 21st century, and only two priests were ordained in the entire province that year of his radio interview.

 

[Ponderling]

I should clarify that the capital cost of cars is not included in the above referenced yearly spendings.

We always buy a lightly used car - 3-4 years old, and drive it to 10-14 years old. Or to the scrap yard if that comes first.

Buy them for cash from our savings.
Dont mention that in the bargianing of the purchase price.
Then when the price is firm and they start salavating over financing commission, do a debit of say $1000 to secure the deal.
And then a bank draft on delviery.