60 000 a year enough to live well in Alberta?

Question

I live in Alberta and am contemplating my career path. The one I am looking at starts at $60 000 a year. I am currently single but would someday like my own house, a horse, a car. What is the outlook? Lol
Please note when answering: Canadian currency is not the same as american. $60 000 is about $50,000 American.

Answer 1

I live in Alberta and make just over 60 000/year. We have 2 children and live quite well. It depends on your definition of "living well". WE are not rich, but we own our home, 2 vehicles, and can afford to go out for dinner or whatever if we want to. Life is good.

That said, real estate has gone crazy in the last few years, and our house has almost tripled in value in the last five years. If we wanted to buy a house now, it would be tough. On $60 000/year, a first home buyer like yourself would require 5% down. I saw on the news that 30 year mortgages are becoming more common, as it is the only way many people will be able to buy a home here now.

Also, once you are married, that double income will work in your favor towards buying a home...Quick! Find yourself a rich man!!

Answer 2

I live in Alberta and just retired from a $60,000 a year job.
I was able to pay my HALF of a $220,000 mortgage and other housing-related expenses (today, $220,000 would not buy a house. It would buy an older condo apartment).
My car was paid off so there was no car loan, but I was able to operate and maintain my vehicle.
After those expenses, I had $1200 a month left over ... that included food and all other expenses not listed above.

Answer 3

Alberta is probably Canada's richest province and most expensive to live in. Depending on where you live and how you budget your money, it is possible for you to achieve your goals.

Answer 4

IF YOU ARE SINGLE AND CAN'T GET BY ON 50 K A YEAR THEN YOU HAVE A BUDGETING PROBLEM.