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Moving to oakville - $55k enough for a family of 5?

Moving to oakville - $55k enough for a family of 5?

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Old May 20th 2012, 1:21 am
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Default Re: Moving to oakville - $55k enough for a family of 5?

Originally Posted by Novocastrian
If you bought the cars outright then you brought capital with you. Very good, but the OP hasn't suggested he will be doing the same. With negligible savings $55K for a family of 5 is impossible.
Yes, and the monthly payment on a $150K mortgage would be very significantly less than renting a large house in Oakville.

With all these kinds of questions it seems to me that cost of housing is the biggest issue. If you can afford to live mortgage free then the situation is very different from either having to rent a house or carry a large mortgage.

No mortgage or rent, then maybe $55K is fine.

Last edited by lmartin999; May 20th 2012 at 1:25 am.
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Old May 20th 2012, 1:48 am
  #32  
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Default Re: Moving to oakville - $55k enough for a family of 5?

Originally Posted by Danny B
Yes I am still working at the same place, had a few different roles and I am now working 4 on 4 off in their Data Centre. I'm loving the shift work, don't think I could go back to 5 on 2 off.
Are you still in the Gaming industry?
No. Left there 2 1/2 years ago and went to work for a large smartphone maker. Will be leaving them at the end of June for pastures new. Had to wait until then otherwise I would have to repay relocation monies. New company very kindly agreed to wait for me or pay half payback costs but I opted for the wait option.
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Old May 20th 2012, 2:34 am
  #33  
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Default Re: Moving to oakville - $55k enough for a family of 5?

Originally Posted by Tangram
No. Left there 2 1/2 years ago and went to work for a large smartphone maker. Will be leaving them at the end of June for pastures new. Had to wait until then otherwise I would have to repay relocation monies. New company very kindly agreed to wait for me or pay half payback costs but I opted for the wait option.
Ooh, are you finally moving to civilization?
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Old May 20th 2012, 3:08 am
  #34  
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Default Re: Moving to oakville - $55k enough for a family of 5?

Honestly, no chance, even in Windsor, arguably one of the cheapest areas of Canada, I wouldnt want to attempt it on that... In Oakville you will have a miserable existence - i'd rather live in a council house in Moss Side..
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Old May 20th 2012, 3:49 am
  #35  
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Default Re: Moving to oakville - $55k enough for a family of 5?

Originally Posted by Novocastrian
Ooh, are you finally moving to civilization?
No, it's still in Fredericton.
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