Planning, planning, planning
Great, now you are a new immigrant. A dream comes true. New opportunities lie ahead of you and your family! You are excited and starting to be a bit overwhelmed with all the new information.
True, after the adrenalin lowers and all the excitement turns into reality most will get overwhelmed. Even having a plan, as I had, it can be challenging to get settled. Let us see. A new immigrant has a long to-do list that needs to be addressed quickly. A non-exhaustive list could include:
- Find a place to live
- Apply for Provincial health insurance
- Apply for Social Insurance Number
- Open a bank account
- Transfer money to Canada
- Register kids in school
- Find house supplies
- Understand how to get around
- Understand the food in the supermarket
- Find if there is any food from your home country (not a big deal depending where you came from)
- Clothes appropriate for the Canadian weather
- If you are moving some of your stuff to Canada, you need to file a list of belongings to avoid paying import tax
The list might go on and on. The message here is that it is really overwhelming. For example, we planned a lot. We decided that I would come first to get a place to live, deal with the money thing, etc. I had a limited amount of time to do everything. In our plan, the 2 months reserved for this step looked comfortable. In fact, it was very tight. Even though we did extensive research using Google Maps, rental ads, feedback from friends, when I started looking for houses I started wondering how many of them where “photoshoped”…
On top of everything, I had to learn quickly about the Canadian financial world. Yes, I read a lot about how the banks work, the different types of accounts, what I should bring to open an account, and many other things. But I was not prepared for the “we do not open accounts for new immigrants” I got…
Even though I was well versed in Finance before moving to Canada I had to learn a whole lot of things. It took precious time and money but it all worked out. The fact is that the Canadian financial system is one of the most solid in the world. If you are looking for security, this is the place to be. Depending where you come from, the fees might seem high, but look at them as cheap insurance.
Another aspect that many do not consider is to hire a professional. Someone that will work in your best interest and help you navigate and, most important, learn how the system works. There is a truckload of options and many strategies that even professionals are not aware of. It is very easy to choose the wrong products and do not get where you intended. An independent professional will help you plan to get the best outcome for you.
Getting Started:
Contact Jose Cid at 604 229 2332 or fill the contact form below.
