Canada’s financial services industry is growing at a fast pace.
But as a new generation of Americans moves to Canada, what can Canadians expect?
Here are the main advantages Canadians will get when they leave:1.
More money to spend: Canadians will have more money to invest and spend on their retirement and savings accounts than Americans.
They’ll have more time to spend on the big purchases Canadians enjoy.2.
Better financial services: While Americans are still getting used to the financial systems in Canada, Canadians are beginning to adjust to the way financial services are delivered.3.
Less expensive mortgage: With home loans down to about 5% interest, Canadians will be less dependent on banks.4.
Less debt: In contrast to Americans, Canadians have less debt than Americans, and many are more comfortable with saving money to buy a home.5.
More options: Canadians are more likely to find their way to a Canadian bank, making it easier to open a savings account or a checking account.6.
Lower mortgage costs: In addition to being able to open more savings accounts, Canadians also have lower mortgage costs.7.
More flexibility: Canadians have more options for mortgages, such as mortgage-to-value options and adjustable-rate mortgages.8.
More access to health care: Because Canada has universal health care, Canadians don’t have to wait until they get sick to access care.9.
Lower tax rates: Many Americans have to pay a high tax rate for their own health care or retirement savings, but Canadians can lower their tax rates without sacrificing their freedom.10.
More opportunity: Americans have more opportunity than Canadians to start their own businesses and start a family.
That means they have more to offer their kids, and their kids will have the same opportunity as they do to start a business or start a new family.11.
Less social isolation: Americans are often the focus of the media, while Canadians are often isolated.
That can create a disconnect for Americans.
Canadians, meanwhile, are far more likely than Americans to socialize and socialize with friends.12.
Less need for credit: Americans tend to borrow money to fund the purchases they make.
That’s a big problem in Canada because Americans are more apt to borrow for everything from a car to a home renovation.13.
Less unemployment: Americans in Canada have fewer jobless workers than Americans in the U.S., so the economic recovery has been slower.
This means fewer Americans are looking for jobs.14.
More opportunities for children: Americans spend more time with their kids and grandparents.
Canadians spend more with their families.15.
Less concern about the environment: Americans don’t want to be the focus for environmental pollution.
Canadians are concerned about pollution.16.
More tax incentives for businesses: American businesses have a lot of capital and an incentive to invest in their employees, but in Canada businesses can earn tax breaks by paying their workers more than the minimum wage.17.
More competition: Americans will have fewer competitors than Canadians.
Canada is more competitive than the U, and that makes it easier for Americans to enter the market.18.
More international travel: Americans travel more than Canadians, so Americans will be more likely have international business trips.19.
More family leave: Americans want more time off, so Canadians have the opportunity to take care of their families on a temporary basis.20.
More time for shopping: Americans enjoy shopping more, so they’ll have less time to shop.
They also can take advantage of international shopping and will be happier to shop more frequently.21.
More financial freedom: Americans and Canadians are both more likely in their financial decisions to do business overseas.22.
More travel: The American financial system has been more stable and secure than Canada’s.
Americans will travel more and spend more.
Americans also have more leisure time and the time to travel is better spent in the United States.23.
Less competition: America is a global economy.
Americans are better positioned to be part of global economies, and Canadians can benefit from the U.’s success in attracting foreign investment.24.
Less stress on the environment and the economy: Americans can take more care with their environment and economy.
The U. has a stronger economy than Canada.25.
More shopping: American consumers are buying more and spending more in general.
Americans can shop in more locations and can shop longer.
They can also shop in the same places more often.
Americans spend less money on retail than Canadians can spend on retail.26.
Less family separation: Americans feel more connected to their family and their children.
Canadians feel more disconnected.27.
Less financial hardship: Americans live longer and have fewer health problems.
Americans have less financial worries and have more financial independence.28.
More leisure time: Americans get more time for themselves.
Americans enjoy more leisure and socializing.
Canadians enjoy more travel and socialization.29.
Less work-life balance: Americans work more than their Canadian counterparts