Want the American Dream? Move to Canada!

The New Land of Opportunities is Cold, but Friendly

Many Americans want nothing more than to have the equal opportunity to achieve success and prosperity through hard work, determination, and sheer sticktoitiveness. 🙂 But research from the Pew Research Center suggests that there is a growing gap between the country’s rich and poor. As the middle class gets squeezed it is becoming harder for people to realize their dreams. Some consumers in the lower class are in so much financial distress, they can’t even afford to pay their electricity bills. Excuse the pun but these could very well be the darkest times of their lives, literally.

But there is a silver lining to all this. According to Scott Gilmore, a columnist for Macleans magazine, Canada is a better place than the United States to find life, liberty, and the pursuit of happiness by virtually every measure. 🙂 So maybe the American dream hasn’t died. It just moved north.

Canadians are more likely to have college degrees, be employed, own a home, take more vacation days, and even live longer than our neighbours to the south. 🙂 Scott says one contributing factor to a better life in Canada is thanks to our more affordable, public healthcare system. We don’t have people here going bankrupt because of medical bills. We may have to wait longer than Americans to get treatment. But at least Canadians are less likely to take extreme measures to pay for high healthcare expenses.

Economic mobility is also higher in Canada. According to Scott, Canadians are twice as likely to move from the poorest quintile of the population to the wealthiest quintile compared to Americans. Similarly, the link between the income of a parent and a child is half as strong in Canada. In other words, individuals have more influence over their future outcomes than the environment they are born into. 🙂 Canadians are also 6 times less likely to be incarcerated.

The rest of the world seems to be aware of Canada’s opportunities. Refugees and asylum seekers in the United States are fleeing into Canada hoping for a better future. In Latin America, migrants are crossing the U.S. border and continuing to travel north so they can reach Canada. And in overseas countries, ESL students are increasingly choosing Canada over the U.S. I work for a private college. About one in three students are from abroad. With Canada being a hotbed for new immigrants it’s no surprise that our real estate market continues to be an attractive asset class.

The former Canadian prime minister, Sir Wilfrid Laurier, once claimed that “Canada shall be the star towards which all men who love progress and freedom shall come.” It looks like he was right. 😀

__________________________________
Random Useless Fact:

According to an Ipsos survey in 2016, roughly 3 in 10 Canadian drivers don’t use winter tires during the winter months.