BristolUK

Or property tax.

Several years ago I remember someone whose property taxes were roughly equal to the income tax payable on a salary of nearly $50k. So that would have involved paying more in taxes than many others in Canada, just different taxes.

JamesM

You seriously want to retire in Southern Ontario????

How much time have you spent here during the winter?

Oink

That was what I was thinking. Have you thought of Victoria BC? The weather is nicer and the place place is full of crinklies.

BristolUK

Maybe it's not retiring in a particular place so much as just being able to retire...or semi retire, as there was something about catering in another thread.

I couldn't have early retired when I did in the UK but I was able to retire here by using my UK equity to go mortgage free. I also bought a rental property to supplement my pension, of course but with a property in London being sold they likely have a far bigger sum than I had and bigger pensions, maybe, so full or semi retirement might well work.

The four of us worked it with total income between $14k and $21k and if they have more money left in the bank than I had, maybe they can make it work too.

Some can, some can't or won't. Not wanting to be in a job that rapidly goes downhill and being asked to do things that more and more you can't bring yourself to do (just look at the publicity my old employer, DWP, is getting now with unjust sanctions, tricking job seekers and having people die after being found fit to work)....well it's a good motivator for an alternative situation to be appealing.

scrubbedexpat091

Presumably someone making 20,000/yr won't be paying for a pricey swim club

It's doable to live on that in Canada, you won't live the high life though, and won't be doing much extra stuff that costs money.

20,000/yr comes to about 1,500 ish a month, 1,515 roughly for Ontario once EI and stuff is removed.

It's doable, but not ideal life by any means and not sure I'd voluntarily live on that little if one has a choice not to.

Tirytory

Well that's what I was thinking too...

JamesM

You're a good bloke.

And I get the cashing in on equity thing.

But you could realise your retirement aspirations by going somewhere where the weather was less brutal and less likely to impact your lifestyle. They already have health issues and being in an Ontario winter won't make things any easier what so ever.

MegSnow

I live in Alberta and my husband's meds for one cholesterol, one hypertension and one other med was about $80 for three month's worth. I take bisoprolol and its $9.60 for three months. This is from Costco which is the cheapest place to get prescriptions from. We were surprised at how cheap it was. Mine is certainly cheaper than a prescription in the UK. Hope this helps although I realize Ontario is different. The costs are for buying outright as we have no medical cover other than Alberta Health at the minute.

Stinkypup

Alberta as you suggest is considerably different to other Provinces. BC would be hugely more I would wager.. Alberta at least for now is a lot cheaper for meds than other provinces. That is why a number of my patients try to continue their Alberta PHN cards here in BC due to the massive cost differential. I'm not sure of the situation in Ontario but probably not hugely dissimilar to BC

scrubbedexpat091

Had no idea Alberta was cheaper, do they have a better deal on buying in bulk or Alberta covers more?


Most of my medications are covered in BC thankfully, one isn't though some cream for psoriasis, its 110 something for a tube of it but since the psoriasis isn't visible, and doesn't bother me and just looks ugly, I don't generally fill that one because of cost.

Stinkypup

I think in part this explains some of it although a lot of patients somehow end up paying zilch

Prescription drugs

The co-payment (the portion of the prescription cost you pay to your pharmacy when you have your prescription filled) is 30% to a maximum of $25. For most prescriptions, you will not pay more than $25 for each prescription..

Also interestingly they pay for up to $600 for insulin diabetic supplies which they certainly don't here- patients are ripped off big time with regard to testing strips etc

Someone using the Albertan system may be able to enlighten us further

scrubbedexpat091

Thanks.

not2old

For the OP, from the above post it appears that it is doable, it depends on what lifestyle the OP is after when they come to Canada.

We are a retired senior couple living a modest lifestyle in the GTA on $20k/yr.

Should we move to another province, even change our accommodations where we are at right now we could lower the cost of living further.

The OP mentioned children, which I reckon will cost a bob or two

BristolUK

Yes, I could have. In fact I was actually planning on Spain. I had it all worked out...take some Spanish lessons in advance of when I looking at doing it, sell up, buy a small apartment in Spain - actually buying two together and renting one would have been an option too.

I could have lived reasonably.

But then I met a Canadian and suddenly I was part of a family of four. The four of us in the UK wasn't feasible for a a variety of reasons so I moved over and was able to take early retirement in Canada instead of Spain.

The OP already has that family of four and could probably not retire to Spain in the way it was a realistic option for single me. Probably they can achieve much more with their equity in Ontario than Vancouver?

Tinpusher63

Nobody pays zilch as you put it under that system, unless they have other coverage in addition to Blue Cross which covers 100% of the balance. As you quoted, Blue Cross covers 70% of the cost of a drug, patient pays the other 30% to a maximum of $25

The quote above assumes a person is either paying for Blue Cross coverage or is a senior citizen and therefor gets Seniors Blue Cross coverage free.

Without that coverage or coverage through an employer people are required to pay the full cost of drugs.

Without such coverage MegSnow's drugs would be considerably higher than $80 for three months supply.

Full cost of my prescriptions as an example: Each 3 months supply or 100 days each one, the cheapest available generic, if generic available.

Amlodipine Besylate (Norvasc) $38.57
Diltiazem $79.81
Isosorbide-5-Mononitrate (Imdur) $165.30
Pantoprazole Sodium (Protonix) $51.73
Clopidogrel Bisulfate (Plavix) $83.76
Simvastatin (Zocor) $61.21
Advair (Inhaler) $162.60

Total $642.98

I consider myself to be extremely lucky in that I do have the seniors Blue Cross coverage, plus coverage from my former employer so what I pay is significantly less than the full cost.

Hope that helps.
Steve