steve666

The argument you are making is very valid, "It's a new life, if money is your prime concern, and you don't feel you have enough of it, don't do it".

Life, unfortunately, isn't that black and white, to some people 4,000,000 quid won't be enough, to others, a fiver would be fine. Money, for us, isn't the main preoccupation in planning for our new life, but it is an important one, for some of the reasons I've said on my last post.

There are so many variables built in to the immigration equation it makes the head spin, the money thing is always going to be personal and you can't blame people for simply being, well, human and worrying about it, particulary if they have the responsibility of their family to consider.

Oh, and my previous post wasn't meant to be a personal attack.
I'm 9 years older than you by the way.

is vic there...

hey,no probs... i hope it all works out wherever you are going...i think i have read that ottawa is your destination....real estate is cheap there and nice area's..............hope all goes well

steve666

Thanks.
Is vic there, Department S, I was 26!

Danny B

Where abouts in Canada do you live?

smithjm

Well, if £250,000 is not enough, then I think a lot of people might as well pack in the idea of moving to Canada. I think you seem to forget that there are people across the world who do not live 'comfortably' and have to scrape by each month!
We are not moving, expecting things to be cheaper because we know they are not. We are moving so that I can give my children a better lifestyle. I know we will struggle, particularly in the early years, but that is a chance we are willing to take.
Even with a job lined up when I get there, I worry about money, so the exchange rate DOES matter to us moving over. Not everyone can afford to take £250,000 and retire at 43. Yes you have obviously been susuccessfuln your career, however, I would consider that I have been susuccessfuln mine, but it takes different people to do different jobs, otherwise the world would not function.
Please respect that some people do worry about the pennies and I for one would love to not have to!!
Enjoy your retirement and good luck to all the others moving over.

Jay

Danny B

My email just came in, it advises people to wait until after the BOC decision later on this week.

I just changed another £10k at $2.08

Profit-taking send Sterling lower
- Probability of Canadian rate increase this week
- Investors' donkey eats UK base rate carrot

Sterling covered a range of almost four cents over the course of the week. Starting from $2.13 it initially dipped to $2.12, rallied to $2.14 and fell back to its starting point. On Thursday it set off lower and was trading at $2.1050 by the time the London market opened this Monday morning.

For most of last week the market was content to ignore the evidence of a stuttering US economy. Lower Factory Orders and fewer Pending Home Sales - those between exchange of contract and completion - were offset by a stronger Purchasing Managers' Index and more new jobs than had been forecast. Investors were not tempted to buy US Dollars on the good figures, nor to sell on the bad ones. Dollar supporters had pinned their hopes to Friday's Non-Farm Payrolls number. Economists were predicting an increase of 125,000 jobs but market gossip was talking the figure up to +150k. Thus it was that a perfectly respectable 132k increase was seen as a disappointment. It should have encouraged buyers of the US Dollar; in fact it merely prompted a round of selling.

Investors paid more attention to the Canadian figures. Without exception the data handed more ammunition to those who predict that the Bank of Canada will raise its official interest rate this week. Employment was up. Car sales were at a record level. Building Permits rose by more than 21 per cent in May. The Purchasing Managers' Index was almost 5 points higher at 67.4. Average hourly wages rose at their fastest pace for ten months. Most analysts now expect the BoC to deliver a quarter percentage point hike on Thursday and some look for a further move to 4.75 per cent before the end of the year.

Sterling's albatross was Thursday's Monetary Policy Committee meeting. Nothing else really mattered during the week. The MPC was expected to deliver a quarter percentage point increase in the Bank Rate to 5.75 per cent. The problem for Sterling was all the investors and speculators who had spent the previous several days building up their stocks. They were so eager to take their profits that Sterling was on the way down even before the rate announcement. The announcement itself produced a quick upward spike to the week's high and then the selling resumed. Sterling was looking slightly less bruised when the London market got going this Monday morning but there remains an underlying concern that we might have to wait for a few months for another rate increase, if indeed there is to be one.

So what to do?
The Canadian Dollar is in a potentially similar position to that of Sterling a week ago. The economists are forecasting an interest rate hike and investors are increasing their holdings of the Loonie. As Sterling was hit by profit-taking after the announcement of rate increase, so the Loonie could come unstuck this week.
Adventurous buyers of the Canadian Dollar should aim to deal after the rate decision. If the BoC surprises the market by leaving rates unaltered the Loonie will sell off and there is a sporting chance that any increase will be met by profit-taking. Cautious buyers should buy half of their requirement forward. Users of either strategy should protect any uncovered amount with stop orders

steve666

Where does your email come from Danny?

Rob_999

What? I take it you mean 250,000 quid is not enough to retire on in Canada at age 43. No shit, and you think you could retire on that much in the UK? All in all cost of living here is similar to the UK - so I don't think it makes a major difference....

As for the exchange rate, of course it affects us all - a swing of $0.20 equates to about 8-9%. Not exactly small change if you're bringing over equity in your home.... The loonie/pound has been so volatile recently that its tough for those with funds still in the UK, especially those with non-liquid assets

is vic there...

...put your glasses on....read the post...i didn't say that 250k sterling was enough...in the scheme of things 250k sterling is a small amount.....i have retired on alot more,i said that if people think 250k sterling was enough think again...canada was not cheap and people on this forum seem to think it is enough...mostly people who have not lived there for any length of time but only been on holiday and probably in 'holiday mood'...wait until financial reality hits..

Rob_999

Where did anyone on this forum say 250k was enough to retire on in Canada???

Danny B

www.moneycorp.com

smithjm

I note on the thread in the 'police' section, you say that you need $6000 per month to survive on in Canada. How is it then, that I know many others who take home much less, yet still survive?
You say that people on this forum seem to think that Canada is cheap. I beg to differ, we know its not cheap. I have been back and forth to Canada to find out about the costs of living etc and to find work, which happens to be for Calgary Police and I will not be earning high wages.
I think the reality is that you obviously live a 'lavish' lifestyle that you have become used to and don't think that people earning less than you can live. Well the fact is, WE DO, but we scrape by from month to month, whichever country we live in. Its the scenery and the lifestyle that changes, not the bank accounts!! Just accept that not everyone will be wealthy in life.

Danny B

$6k a month to live in Canada!
I guess the all important question we are waiting the answer for is 'where the hell in Canada does he live?' because I sure as hell do not want to live there.

Danny B

Bank of Canada have just increased interest rates by 0.25%
Let's just all sit back and watch the exchange rate go down to $1.97 now

cneldred

Danny they were expected to raise rates...so it won't!!

However, they said they may need to make another modest rise to counter inflation worries..no expected. Market was pricing in a lot more rises, therefore a little bit of bad news from Bank of England now and all of us waiting to change up funds will be a lot happier.

Chris