📊 THE STUDY

A recent analysis by Remitly, based on Purdue University research and adjusted for inflation and purchasing power, estimates that Canadians need an annual income of approximately:

to reach the point where earning additional money has little impact on overall life satisfaction.

Canada ranks as the 14th most expensive country in the world to reach this "happiness income."

Estimated Annual Income by City

City	Income
Victoria	$170,000
Vancouver	$169,000
Toronto	$167,000

While Calgary wasn't among the highest-ranked cities, rising housing costs and inflation continue to impact affordability for many families.

⚠️ WHAT THE STUDY REALLY MEANS

Instead, researchers found that once people earn enough to comfortably meet their needs and reduce financial stress, additional income provides diminishing returns on life satisfaction.

Money doesn't necessarily buy happiness.

Financial security creates peace of mind.

And peace of mind allows us to focus on what matters most:

• Family
• Health
• Relationships
• Experiences
• Purpose
• Time

📈 WHY THIS MATTERS

The cost of living continues to increase across Canada.

Many households are experiencing higher costs for:

• Housing and mortgages
• Property taxes and insurance
• Groceries
• Utilities
• Transportation
• Childcare
• Everyday expenses

As prices continue to rise, growing your income is only one part of the equation. Managing your money wisely is just as important.

💡 7 WAYS TO SAVE MORE MONEY

1. Pay Yourself First

Set up an automatic transfer so 10–20% of every paycheck goes directly into savings or investments.

2. Review Monthly Expenses

Cancel unused subscriptions and compare service providers annually.

3. Build an Emergency Fund

Save 3–6 months of living expenses for financial protection.

4. Pay Off High-Interest Debt

Focus on eliminating high-interest credit card debt first.

5. Create a Spending Plan

Track your spending to identify unnecessary expenses.

6. Reduce Housing Costs

Refinance or explore rental income opportunities if possible.

7. Invest Consistently

Small monthly investments can grow significantly over time.

🚀 7 WAYS TO MAKE MORE MONEY

1. Invest in Real Estate

Build equity, generate rental income, and grow long-term wealth.

2. Learn a High-Income Skill

AI, sales, marketing, trades, and tech skills are in high demand.

3. Ask for a Raise

Negotiate based on the value you provide.

4. Start a Side Business

Many successful businesses start part-time.

5. Create Passive Income

Investments, rentals, and digital products can generate income streams.

6. Invest in Yourself

Education and certifications often yield high returns.

7. Buy Smart, Not Bigger

Strategic real estate decisions build more wealth than oversized purchases.

💭 MY PERSPECTIVE

Financial freedom isn't about chasing a specific income—it’s about creating options.

The people who build lasting wealth aren't always the highest earners. They're the ones who make smart financial decisions and invest for the future.

Real estate is one of the most powerful tools for building long-term wealth when aligned with your goals.

🏡 HOW REAL ESTATE CAN HELP BUILD WEALTH

• Equity growth
• Property appreciation
• Rental income
• Increased net worth
• Financial security
• Long-term stability