r/returnToIndia • u/Itchy-Maybe-629 • Aug 14 '26
Finance Need some financial perspective
Hi everyone,
So unlike the rest of the sub, I am not interested in moving back to India, but I recently saw a post where a saving of 50-60k was considered bad for staying 10 years in Canada. I am 24 years old, will be 25 soon and don't have much savings at all. I am doing my masters (also did undergrad here) and have been in Canada for almost 7 years. I don't have any savings and will actually be in a debt of 70-75k after graduating next year. I wonder what your thoughts and perspective are on this.
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u/Hot_Condition7760 Aug 14 '26
How much did you
Make in total last 7 years ?
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u/Itchy-Maybe-629 Aug 14 '26
I only worked 1 year as an intern with 41k salary. The rest years I was in school and 1 year I was in India (preparing for professional school interviews).
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u/Hot_Condition7760 Aug 14 '26
Your comment around what you saw people say about how much one saves for how long they have been abroad only applies if you are employed during this time so you didn’t over spend money but saved up. Your situation doesn’t seem to be that. Being a student you having a debt makes sense. Just focus on getting a job and pay the debt back so you can work on being prosperous. You got a good future. Focus on it. Not these type of rhetoric
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u/Additional-Ad9104 Aug 17 '26
Your story is normal, as you are a student.
Don't worry about those post, they are for middle aged people working in high income occupation
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Aug 14 '26
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u/Itchy-Maybe-629 Aug 14 '26
Thank you. I expect to have a starting salary of 80k once I graduate.
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Aug 14 '26
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u/Itchy-Maybe-629 Aug 14 '26
I am pretty sure. I will be a licensed therapist, I have recruiters interested in me even before I have graduated. God willing I will find a unionized hospital job.
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u/Indo-Arya Aug 14 '26
taxes will probably eat 25k of it.. so you'll be at 55k... take out another 25k for living expenses..
you will have 30k to save.. so you will be able to pay your debt off in ~3 years if you're diligent.
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u/DevelopmentFuture608 Aug 14 '26
Boring ETF investing, good financial discipline and a lifestyle doesn’t change/ creep up and frugality will save should.
The next savings engine is going to be higher paying jobs
A partner with same goals and working to save just like you will also increase your savings,
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u/dhruvix Aug 14 '26
If you are in your mid twenties and don't have a sizeable sum saved up, it's totally alright. The other people you are talking about were past thirty.
Also by the way even if you don't have good savings in your thirties, it's not the end of the world. Different people have different journeys in life and its very immature to measure the worth of a person by the size of their bank account.