A commonly help perception is that if you improve your standard of living your quality of life will also increase. Not so fast. More times than not the exact opposite can be true. Why is that?
One’s standard of living is often measured against success in terms of money, power, or influence. Most often people aspire to positions of greater authority and prestige and higher wages. How often have you heard “congratulations I have good news and bad news for you. The good news is that you are getting promoted. The bad news is that you have to relocate to city XYZ.” Most major corporations have their headquarters in major cities and if you are moving up the chain you will likely end up there at some point in time. If you like large cities this may be a good thing for you. However, how many of you like the traffic, commutes and stresses associated with most major cities?
Within Canada most major cities are expensive to live in. Buying a home in some of them like Vancouver is beyond the reach of the average Canadian. So if you get promoted and have to move there, what do you do? You can rent or you can buy out in the outlying suburbs but if you do you are likely faced with a long commute to work. Spending hours getting to and from work may not be such a good thing. If you can take public transportation you can get some work done or enjoy a book or listen to the radio but most people end up driving themselves and they have to put up with the extra stresses and strains of driving in heavy traffic with many other stressed out people.
Beyond the stresses of city life there is the additional debt burden associated with living there and commuting to work. Yes most major cities have more opportunities to enjoy a wider variety of things. But will you have the time and money to take advantage of what they offer? Will the added stress and worry be worth the promotion you worked so hard to get? This is often the two-edged sword of working hard to realize a higher standard of living in Canada. Of course, there is also the extra tax burden associated with making a higher wage in Canada. Not only does the amount go up but the percentage taken by the government for working harder goes up as well.
If this storyline applies to you perhaps it is time to focus more on your quality of life and enjoying life before you get too old? Perhaps it is time to see why some many older Canadians have decided to move to the Comox Valley on Vancouver Island and buy a luxury home in the Comox Valley real estate market. If you want to learn more about this terrific region of Canada contact Brett Cairns of RE/MAX Ocean Pacific Realty to be your guide and Realtor.