NewStats: 3,259,781 , 8,170,900 topics. Date: Monday, 26 May 2025 at 01:05 AM 1c1c

Pearly274:
Hello everyone,

I would like to know what life's like living in Thunderbay, Ontario as a PR? I have read that the cost of living is quite affordable.
What about job opportunities? Commute systems? community lifestyle? there seems to be very little information about the city.
I'll appreciate if I can get more first hand experience information.

Thank you.

If you are already a permanent resident, and you do not have a HIGH paying job or other high priority reason waiting for you in Thunder Bay, it may not be the best place to start your new life in Canada. The city is far from everywhere, population is low, economic opportunities are less, etc. Rent may be cheap, but dont forget rent is usually cheaper where opportunities are few.

seunpinky:


I have been doing some serious research on buying a biz in Canada, unfortunately, not so many black immigrants have the knowledge. Most of the information I have gotten have been from the Indians as they seem to have the hack for such ventures. This been said, buying and running a biz is a whole new level ( involves time, patience, access to finance, regulatory compliance, staffing etc)

Pls let’s share more information on buying bizes/franchises. Most blacks are just focused on RE which is not a bad thing but we need to diversify our investment portfolio.

There are quite a lot of aspects to it, and having someone that has successfully done it can be helpful.

For example, are you buying a business that you will run (almost like buying a job) or do you want a business that will run independently of you (these are much harder to get and most franchises don't like this model).

Are you buying a franchise (and therefore have less control of your business) or are you buying an independent business (ride and die alone, profits or losses)

Are you buying a business you have expertise in (usually beneficial) or one that you have no clue about and only have management skills?

slydog:


The business model of the guy on IG I follow focuses on buying businesses that work without him, using existing staff, bringing up one who knows the business inside out and clients and upgrades him to partner. That one go work like Jacky since he sees the business as partly his,

That is a good model that has been successfully replicated. It is practically what all big companies do. Set up a good vesting schedule and let the guy run the business... then you run to warmer climates during the winter season in Canada

slydog:


Retire early, my target.

I follow one guy on IG that's into buying businesses, unfortunately the SBA loans he uses in the US, we don't have that variant here in Can.
So my plan is RE, then use profit and pivot gradually to buy a business.

Financing is probably not the biggest problem as long as you are a PR/Citizen, have some savings and good credit. For example, most of the major banks have a $250,000 Black entrepreneurship loan that includes funding business acquisition or startup. Business Development Canada has a $1m loan program that also funds Business acquisition.

Many franchises also offer some form of financing as long as you can put down a downpayment. As a standard, you should have at least 20%.

At the end of the day, the first determinant is that do you have the heart for it? Do you have the liver to hand over $500k to someone and take over his Business that comprises of mostly intangibles?

slydog:


I have applied for a $1m term now, going through underwriting process.

Rather than do perm life, I will use my working years to invest in RE big time and pivot to buying businesses. If I get up to 20rentals at 50, that will be ok for me at the same time putting funds in TFSA and RRSP and other small investments here and there.

Buying businesses is one hidden gem that many Nigerian immigrants have not been able to key into yet. If you pull it off right, you will retire earlier.

ednut1:
https://www.ctvnews.ca/business/regulator-reining-in-greatway-s-multiple-levels-of-questionable-insurance-marketing-1.6270580

🤭 saw this when i went to research last year, also saw some Reddit posts from Philippinos in Alberta

See wickedness that is packaged as an insurance/investment product and sold to family and friends

From the above CTVnews article:

A key part of problem with the financial strategy, said Vaneesa Cline, a financial planner in Calgary, is that the cost of the insurance ramps up rapidly with age. That diverts payments away from the investment side and saddles buyers with a lifetime of rising costs for a product they may not even need, she said.
Cline said she's helped several former Greatway clients sort out their finances, including one man who was initially paying about $250 per year in s, but by the time she met him in his 60s, he was critically ill and his family was struggling to make payments of $600 per month.
"It's potentially devastating," said Cline. "When (clients) get to retirement and they need the money the most, the cost of the insurance inside these policies is so high that it quickly depletes the cash value that has built in these policies, to where these policies lapse."

seunpinky:


Adding this picture to add context to your write up. For the first 6/7 years you are only getting insurance coverage while nothing goes to your investment until year 6/7 (cash value)

Wow! This is even worse than I thought. So I pay into an investment for 7 years but get zero $$$ if I stop investing by year 7.

Kenn55:


Nothing ooo. I lost the money but I didn't mind cos it's better than continuing it. I took it as the price to pay for lack of knowledge

Imagine that! You took the right decision though. Only sad that your relationship with the agent is damaged.

Kenn55:


You are correct. However, I think he is specifically talking about those kinds of insurance those agents are selling. It is a kind of hybrid insurance plus investment package and it makes no sense. If you read the details you realize that the risk of losses is too high.

It is better to separate your insurance from investment. I do insurance for insurance and investment for investment and not those nonsense they are tricking people to enrol which costs a lot.

I got tricked by one Nigerian agent when I first came to Canada so I got the package but I canceled it after 9 months when I had a better understanding of how things work. The day I canceled it, he begged me eeh, told me so much sweet stories to make me change my mind but I didn't. After I canceled it, he didn't talk to me again even till today

What percentage of the s you paid for 9months was refunded to you?

seunpinky:


Aptly written, the agents are just pushing the ULP products due to the high commission they make of it. Using your above example, with a monthly of $800 per month, the agent will make between ($ 4,800 - $7,680) as commission. This is the reason there are several ULP agents out there esp within our community.

Everybody just wants to cash out. If I were in that business., I would sell at least 3 policies monthly but my conscience won't let me sleep at night. How would I feel to find out a friend sold me a bad product 5years after diligently paying into the product?

Sometimes I blame the agents, but some of them were also lured into it with very little prior knowledge.

slydog:

Interesting, though I realized it's only one company that most immigrants insurance agents use and that's ivari.

But I do note that there are other insurance companies like the insurance companies of the big 4 banks and all.

So would u suggest I buy insurance from the big names and avoid d one that targets immigrants or not buy at all?

Ivari/WFG are the products pushed by immigrants for immigrants. I personally prefer buying from insurance companies owned by the big banks because they have a reputation to protect, have a larger pool of fund and a $1m payout will not shake them as much as a smaller company that will start looking for excuses not to pay.

Life insurance is very important, but buy term life policies. The primary goal of life insurance is to protect your family so that they can maintain similar lifestyle if you early. If you were intentional with your investing in your working age, your family will not need life insurance to protect them when you are 65years because your savings will be significant and your children will be of working age themselves. Life insurance is to bridge the gap whilst you are still accumulating your investment.

megastu:
How does the person who bought the product loose money?

First, his beneficiary only gets one leg of the policy if he dies, that is the insurance leg. The investment if forfeited to the insurance company.

Lets also look at fees.

Under a Universal Life Policy, your $600 monthly payment for the first 2 years goes towards fees. The insurance company paid the insurance agent $3k for your policy, paid his uplines (because they sell via network marketing) and incurred other costs. So for the first 2years, you practically have almost zero investment despite the fact that you have paid over $14,000. In addition, they charge the highest annual management fees compared to other mutual funds, meaning that in reality, your investment will not even grow at 5% because their annual fees are constantly eating into it.

seunpinky:


2. It is better for you to buy a temporary life insurance (term life) 20/ 25years for very cheap say $30 - $40 per month than buying a permanent life insurance for $500 per month. you can diligently invest the balance of $400+ in the options listed in 1 above.

Let’s consider the rate of return. The top rate offered in Canada for investment under a Universal Life Policy is 5%. This is partly because of Govt regulation that limit how and where insurance companies can invest their funds. So if you were investing $500 monthly aside your insurance , your investment is growing at 5% annually. That is practically a wealth destroyer as the inflation rate can sometimes be higher than that. As I demonstrated above, an S & P 500 linked mutual fund will deliver 11%. So after 15years, the ULP guy that invested $500 for 15years will have $133,991.23 while the Term Life guy will have $220,928.29.

NuCypher:

I'd say his advice carries some weight. While some of these insurances do work, they often come with payments that are hard to maintain or clauses that can result in complete loss of previous payments, all hidden deep in convoluted pages and pages of text. Let's not deceive ourselves. There's a reason the immigrant community who know no better are squarely targeted for these products. In fact, it has gotten so bad that their salesmen only need to see that you are black to approach you.

This is another wicked part of the policy . The consequences of cancelling the policy can be the loss of many years of investment growth. They know that immigrants don't typically read the policy so they the details in the fine print.

slydog:


Tell me more please.
Is it that the insurance doesn't doesnt work? The term or perm live or resp, do they work when u need them or not?

I will try to summarily break down Whole life/Universal/Permanent Life Insurance (will refer to them generally as ULP) and compare them with a 20year Term Life Insurance Policy for the average 40yr old with no major existing health issues.

Under a ULP, the policyholder pays for both insurance and investment. However, the policyholder or the beneficiary can only get one benefit and not both. If the policyholder dies, his beneficiaries get only the insurance payment and forfeit the accumulated investment to the insurance company. Alternatively, the policyholder can end the policy and draw his savings or he draws the accumulated savings using various loan schemes.

Let me clarify with an example. For the average 40year old, healthy male, a ULP policy will average $600 - $1000 monthly or more for a $1m insurance policy. A portion of that payment goes to investment, while a portion goes to insuring him. If he dies at 55yrs, his beneficiaries will get only the $1m payout but will not get the accumulated savings. The insurance company will payout $1m and the accumulated investment will be forfeited to it. Practically none of the people selling this product will tell you this.

If that same guy bought a 20years Term life policy, he will pay $70 - $100 monthly as insurance . He invests $500 monthly in an S & P 500 linked mutual fund (which has returned an average of 11% over the last 20years). If he dies at 55years, his beneficiary will get $1m payout from the insurance company and $220,928.29 from his investment.

slydog:


People coming to me to sell life insurance, I had to research this life insurance and find out they make up to $3k for any permanent life insurance they sell. Bro, I am studying to write insurance exam now, $150 just to sell insurance to myself and earn the 3k and I can sell to others.

I wish it's not too late for me to convince you not to these insurance guys that are making merchandise of the immigrant population. Their life insurance products are targeted at immigrants because they are very bad financial products, and so they leverage on immigrants selling to other immigrants in their network. At the end, the insurance agent makes money, the insurance company makes money, but the person that bought the product loses money. I wouldn't sell such a product to my community.

I will summarize some of the important points that have been raised::

1. Nobody lured anybody to come to Canada. As a professional looking to relocate to another country, you must research, research, research. That includes talking to people on the ground that went ahead of you. You must find out the realities about getting into your target profession and develop your plan of how to get there. You must also be willing to reinvent yourself and choose a new path if your current path does not appear to lead to your preferred destination. Nobody coming into Canada in 2023/2024 should be surprised about the challenges in the job market or housing. You should have already discovered that through your research.

2. Your network is very critical. It's almost as if you can only grow as much as what you know, And what you know is largely dependent on who is around you. If you land and keep company with those that have given up on their dreams, you will soon give up on your dreams. If you keep the company of those that have big dreams and are constantly focussed on those dreams, you will find that you will readjust your own dreams and make them bigger, and then stay awake at night figuring out how to make it possible.

3. Practice delayed gratification. The best time to suffer and work hard in Canada is when you have just landed. That is the time you still have a lot of fire, but as time goes on, you start adjusting to the reality of the country making it difficult for you to make bold decisions. So if there are licensing exams to write, write them early. If you are choosing a new career path, choose it early.

4. Everything beautiful takes time. Your dream is going to take time. Just stay focused. Stay in your lane and keep building.

PewpewS32:
Nairaland,

Yes, I'm Canadian looking to semi-permanently move to Nigeria for ministry opportunity.

Reading online tells me I'll be fine, but would love to hear a local perspective.

I'll be selling my home, vehicles, furniture... everything and starting over in Nigeria (Lekki, Lagos area).

Everything sold and done I would be coming with around N450,000,000.00 to N500,000,000.00. I know this is a lot in Nigeria. For real, I know. What I would like to know is let's say I don't make any money whatsoever, how long will that last after paying for a 3 bdrm house, car, furniture etc there? Believe me, here in Canada this isn't that much... it's not below poverty, but also not rich either. (Middle Class).

Where do I stand in Nigeria with this much?

Thanks,
Pewpew

Congratulations on the biggest move of your life. It takes boldness to respond to God's call and I have people that are in your shoes and looking to do something similar in the future.

Here's my best advice to you:

1. Rent a house in Lekki Phase 1. Do not buy one, at least at the beginning. You are a missionary and you need to keep your options flexible.

2. With your N500m budget, you can yourself financially in perpetuity in Nigeria and will not need to work for money in the future. Here's how.

1year rent, solar system (for 24hr power supply), electronics, furniture and other household items - N15m

2018 - 2020 Toyota Rav4
2018 - 2020 Toyota Corolla (you need 2 cars in Nigeria if you are making the trip with your spouse

Buy both in Canada and ship to Nigeria. - N50m

Alternatively, if your vehicles in Canada are reliable, ship them instead. That would include your personal effects.

Relocation expenses - N5m

Living expenses for first year - N20m

Emergency fund in savings - N10m

Total - N100m.

The balance of N400m can be invested as follows:

N100m invested in Federal.Govt of Nigeria Treasury bills and bonds

N100m invested in a Fixed deposit with Stanbic IBTC Bank

N100m equivalent in USD invested in a Foriegn Currency Fund managed by Stanbic IBTC Assets Management

N100m invested in a Fixed Deposit with Access Bank or GTB

The above investments will yield annual interest of 12% - 18%. If we take 15% as the annual return, you will make N60m annually (or N5m monthly) on your N400m investment which would remain untouched and rollover from year to year. However, to slightly mitigate inflation, you may choose to draw only 10% and allow the balance to compound annually.

Putting your money in guaranteed investments allow you to focus on your primary mission.

Diversifying your investment into local and foriegn currency investments protects you from the risk of holding all your money in Naira.

May all your dreams come true.

luc26:
Please who has changed employer under HSW pilot? I really need help getting a new employer urgently as my previous one got rejected .

Send me a message using the number on my profile

Afrikanunikorn:
Hi s
How do I get into an Ontario group?

PM me on the number on my signature

DereI:


With the current interest rate? And furnished? Probably all inclusive? This is a great deal!!!

Do you know what utilities cost these days? The other day we paid $640 for gas, water and electricity - and it’s not winter yet. Last winter our enmax bill went up to $1050.

So before you comment about someone trying to rip people off, think again!!!

Check out how much property taxes are now.
Research current interest rates
Confirm rate of utilities

Then come back and apologize to poster.

SMH

In the mind of many tenants, mortgage and utilities are are the only carrying costs of home ownership, yet when something breaks in the house, they have the landlord on speed dial.

ExcellencyFSA:


Hi everyone, so I got another Qatar ticket that will land in Montreal Trudeau (not yet paid). Has anyone taken this route before? Any condition attached to landing in Quebec first? Will the layover time in Montreal Trudeau be enough for all the necessary Port of Entry documentation?
Thanks.

The route is good. Layover of 4hrs is reasonable and sufficient. Landing in Quebec is same as landing in Pearson.

You can now ship to your door in Southern Ontario at the lowest prices:

Free delivery to Ajax, Bowmanville, Brampton, Brantford, Burlington, Cambridge, Hamilton, Kitchener, London, Milton, Mississauga, Oakville, Oshawa, Pickering, Toronto, Waterloo, Woodstock

Kemabassi:
Op should setup a whatsapp group so we can start the process. I have other options to get her here but School will be her best bet. Lets stop talking but start doing something now.

PM me or send me a message on WhatsApp - number on signature

@dawoyo
@keepingmum
@crenzywilliams
@ibilelfe
@texazzpete
@rickleye
@iykenuwa
@geegee08
@kemabassi
@yakson123

Please PM me as NL is not allowing me send more PMs

UPDATE

My lawyer was at OP's house today and was able to confirm that OP is genuine.

For privacy reasons, I am not able to disclose more information about OP's circumstances, but we will be proceeding with ing the young girl moving forward. Her dream is to be a lawyer and I am believing that God will make that dream come true.

I will be engaging all those that have volunteered to help and will setup a WhatsApp group to coordinate our . You can PM me if you want to our collective effort.

@gaby
@dawoyo
@keepingmum
@crenzywilliams
@ibilelfe
@sirjamesjnr
@texazzpete
@rickleye
@iykenuwa
@geegee08
@kemabassi
@yakson123

SOLUTION

I have engaged OP and I am currently working to confirm the veracity of his story. This should be completed by next weekend. Once confirmed, the plan is to do any of the following:

1. Full-ride scholarship (tuition and living expenses) to any public university in Nigeria (including cost of preparing for JAMB etc) - the condition for this is that she must be able to get ission on merit.

2. Alternatively, sponsored training in a structured fashion school in Lagos, including cost of sewing machine, transportation and stipend for one year.

It will be nice to collaborate with @Gaby, @Dawoyo and everyone else that would like to pitch in.

VoidLife7:
I can give you my main if you insist. I was too ashamed using my main to post what my family are going through. I have told you I'd give out any evidence down to my abode. I have nothing to hide to anyone who's willing to this young girl and her brother

PM me

gaby:
Ooops, I just saw you ed this moniker today for this purpose.

I don't think I have the time to waste here...

The last comment before this actually helped me to go check your profile.

I've been disappointed one too many times trying to assist people here. Never again.

Good luck to you guys.

Please don’t be hasty in withdrawing your . Let’s allow him prove the genuineness of the situation, then between us, we can see how to the girl.

7COLOURS:
When travelling with kids, what should parents hold as hand luggage that might be needed?

Considering change in time and weather, do children adapt easily?

What should parents that just landed in Canada do or be on the look out for?

Please let's make this group thrive

Children adapt easily to cold, but you must invest in quality cold-resistant clothing. This is because part of the daily routine in school is for kids to play in the snow (during winter).