Susmit Rao

[Susmit Rao @SusmitRao]

@FIFAWorldCup @FIFAWorldCup : Start looking at monetization of referees, clearly the match between France and Paraguay needs to be relooked. It looked more like Paraguay got confused between American Football vs European Football.

[Susmit Rao @SusmitRao]

@FIFAWorldCup Congratulations to Team England on the win. Well deserved. Great Play, amazing passes, and best examples of team work. @HKane : Kudos for passing the ball to score the goal for the country and never thought of becoming a top scorer.

[Susmit Rao @SusmitRao]

@BJP4India : People are saying you only think of Delhi and not overall India, Please start your campaign showcasing everything you have done for us. We only want BJP, because Congress like Mr DK S, Who took over by force my family farm land needs to be brought to justice

[Susmit Rao @SusmitRao]

@iPoonampandey this is what your fans want https://t.co/ooLK6HHhye

[Lazy Canadian Entrepreneur @JimChuong]

A couple that makes $20k/mo will live a comfortable life in Toronto, Canada.

Let me walk you through it

$20k per month is $240k a year.

Let’s say each person makes $120,000 per year

In Ontario:
Federal tax: $18,812.49
Provincial tax: $10,128.16
CPP contributions: $4,055.50
EI premiums $1,049.12

Net pay: $85,954.73 per person per year or $7,162.89 per person per month.

Who are we talking about?
A couple. No kids.

For a couple:
Net pay: $171,909.46 per year or $14,325.79 per month.

What does “comfortable” mean?
Let us say you are:

- not living pay check to pay check
- filling retirement accounts
- paying for food, clothing, shelter, transportation

Let us start:

TFSA (equivalent to U.S. Roth IRA): $7,000 per adult per year, or $14k per couple per year total.

But each person contributed $21,600 to their RRSP, paid $30,000 in tax, and had a refund of $8,900 which they used for their TFSA with $1,900 per person to spare.

RRSP (equivalent to U.S. 401k/403b): $21,600 per adult, or $43,200 total per couple.

For retirement (TFSA & RRSP): $43,200 per year or $3,600 per month.

Let’s move to shelter:

A 1b1b condo in Toronto costs $720,000.

This should be affordable for a gross household income of $240,000 per year based on the 20/30/3 rule for buying a home:

1. 20% down
2. Shelter costs less than 30% gross household income
3. Shelter price less than 3x gross household income

If no downpayment the couple needs to find $144,000 for downpayment, $13,275 land transfer tax (assuming first time home buyer otherwise $21,750) and legal. $162k+ Minimum.

Monthly mortgage is $3,400 per month (20% down, 5.1% interest, 25 year amortization)

Plus:
Utilities
Insurance
Property tax
Landscaping
Maintenance
Capital expenditures

You get the picture.

If non-recoverable shelter cost is 2% this is $14,400 per year or $1,200 per month.

Let’s keep it simple and say that shelter equivalent is $4,600 per month

Next add the following:

Groceries: $1,000/mo

Car: $1,000/mo (includes monthly payment, maintenance, insurance, gas)

We are at $10,200 per month.
($3,600 retirement + $4,600 shelter + $1,000 food + $1,000 transportation)

Now add:

$200/mo Emergency fund
$200/mo. Phone & Internet
$400/mo Eating out
$200/mo Entertainment
$500/mo Clothes, Fitness, Grooming, Travel

Total of $1,500

We are at $11,700 per month.

This couple has $2,700 per month to spare and can consider having a child and/or a second car.

Statistics Canada calculated that raising a child from birth until the age of 18 years of age will cost $1,400 per month. This excludes saving for the child’s post-secondary education in an RESP.

In short to live a comfortable life in Toronto with adaquate contributions to retirement, money for shelter, food, clothing, transportation, entertainment, and a future that may include having a child, a couple needs to make $20k/mo.

Otherwise we just decide to sacrifice, and live without something listed above.

Get financially literate. You got this! 🙌

[RadioGenoa @RadioGenoa]

"Islam out of Europe", shout the French patriots. Do you agree?

[RadioGenoa @RadioGenoa]

Italian families march against illegal and indiscriminate immigration which only brings degradation, crime and rape. We want mass expulsions.

[Palki Sharma @palkisu]

Western hypocrisy & vote bank politics gave a safe haven to Khalistanis. Pak terror factory trains them to attack India. Larger part of Punjab went to Pak during partition, major Sikh shrines still there, Lahore was the seat of Sikh empire, but Khalistanis want only Indian Punjab

[Sonam Mahajan @AsYouNotWish]

EXPOSED: Gurcharan Singh who was seen abusing and threatening to assault an elderly Hindu man and leading a violent protest outside the Indian High Commission in London is linked to Pakistan High Commission and a close aide of Paramjit Singh Pamma, a wanted terrorist in India.

[Palki Sharma @palkisu]

$15.6 bn IMF loan for Ukraine. The IMF has never loaned money to a country at war. Until last week,Ukraine wasn't eligible.Then a rule was tweaked. Took 1 yr to clear $3bn for Sri Lanka. But Ukraine has Western allies & white citizens. & the US can clearly overwrite all rulebooks

[Shehzad Jai Hind (Chowkidar as per INC ecosystem) @Shehzad_Ind]

Busting Congress’ Chinese Propaganda (CCP) in 2 mins flat!

[Aviator Anil Chopra @Chopsyturvey]

Interesting

[Tansu Yegen @TansuYegen]

Amazing🔥🔥🔥

[Hananya Naftali @HananyaNaftali]

Apple shifts iPhone production from China to India. 🇮🇳

Another reason to be a proud Apple fan!

[Anand Ranganathan @ARanganathan72]

Left to the Congress only Muslims qualify as a minority, because it feels only a Muslim can work for Muslim interests.

Here, I demolish this propaganda and show that NO OTHER Indian prime minister has done more for the Muslims than Narendra Modi.

[K.Annamalai @annamalai_k]

When our Hon FM Smt @nsitharaman avl spoke about the dollar strengthening vis a vis other global currencies, our noise makers, as usual, with little understanding, jumped at it.

What she said is right & our country continues to be a ‘global bright spot’ as mentioned by IMF!

[Amjad Taha أمجد طه @amjadt25]

This is not journalism,but a defamatory statement. What is the WSJ's advertising policy? This is a slur against journalism. Indeed, Muslim Brotherhoods collaborate with some Democrats who are dissatisfied with India's progress. Collectively,we stand with India against this insult

[Nitin Gadkari @nitin_gadkari]

Green Hydrogen is the future of the country!

#Urjadata_Kisan #ऊर्जादाता_किसान

[Kiren Rijiju @KirenRijiju]

This 'historical lie', that Maharaja Hari Singh dithered on question of accession of Kashmir with India has gone on for far too long in order to protect the dubious role of J.L.Nehru. 

Let me quote Nehru himself to bust the lie of @Jairam_Ramesh. 1/6

https://t.co/US4XUKAF8E

[Renee Lynn @Voice_For_India]

The biggest genocide in human history didn't occur in Nazi Germany but in Afghanistan, Bangladesh, Bhutan, India, Iran, Nepal, Pakistan, Sri Lanka, West Bengal & Kashmir where + 80 million Hindus were slaughtered, persecuted & displaced. The UN is comprised & still remain silent.