The average annual tuition for Canadian universities is only $6,571 for the 2021/2022 academic year. Further, acceptance rates at top Canadian universities are high compared to top American universities. Therefore, you may want to consider attending college in Canada instead.
Canada is a wonderful country. Its GDP per capita is a respectable $45,000. Few people go through medical bankruptcies because healthcare is heavily subsidized.
In addition to recommending all Americans looking to retire early to immigrate to Canada to take advantage of subsidized healthcare and other government benefits, I also recommend American high schoolers apply to Canadian universities as well.
The top Canadian universities are all much easier to get into than the top American universities. As a high school tennis coach for three years, I personally witnessed the grind my students faced every day studying for AP exams, trying to get straight-As, and taking the 3-hour long SAT multiple times.
Despite all their studying, most didn’t get into a top 20 American university. If only they applied to the top Canadian universities instead.
Acceptance Rates At Top Canadian Universities
Below are the acceptance rates at the top Canadian universities for the 2021/2022 school year.
McGill University: 41.7% acceptance rate
University of British Columbia: 52.4% acceptance rate
Queen’s University: 42% acceptance rate
McMaster University: 58.7% acceptance rate
University of Waterloo: 52% acceptance rate
University of Montreal: 57% acceptance rate
University of Toronto: 40% acceptance rate
In other words, the best universities in Canada have an acceptance rate of 40% – 58.7%!
Now let’s take a look at the acceptance rates of some of the top American universities.
As you can see from the data, the average Canadian university has an acceptance rate 4-12X higher than the average American university.
It is now impossible to get into a top American university unless you’re a really rich legacy student or cured some rare disease in Africa while starting a massive website to help feed hungry children.
Rich, white children of celebrities couldn’t even get into some universities on their own merit. Their parents ended up bribing university officials on average $500,000 to get their kids in.
Instead of busting your but in middle school and high school to get into a top American university, whose value is frankly diminishing due to the free internet, it’s much better to apply to a Canadian university.
In Canada, everybody gets a trophy. And what’s great about Canadian universities is that you still get a top rate education and employers prize you as equally, or almost as equally as a graduate from a top American university.
One of my classmates at Goldman Sachs was a McGill University graduate. She was awesome and by age 33, she was the only one to have made Managing Director. The rest of us either quit, were let go, or never ascended.
Save Money By Attending A Canadian University
Instead of spending $48,000 in annual tuition going to Princeton, Stanford, Yale, or Harvard only to end up with the same type of job as everyone else, why not spend $5,399 in annual tuition at University of British Columbia and work at a US-based firm for more money instead?
To qualify for local tuition rates, you’ll have to establish residency for at least a year or two. But i’ll be worth it due to the massive cost difference.
Even if you cannot get any tuition exemption, international tuition is still about $10,000 a year cheaper than a comparable top rated private university in America.
With Canada’s Express Entry program, it’s pretty easy to become Canadian. All that’s required is at least one year of work experience, proficiency in English or French, and $1,500 – $2,000.
If you intend to be self-employed when you move to Canada, you’ll need to show you have at least two years’ relevant experience in the field in which you intend to self-employ. That’s not very hard at all because anybody can start a website and say they have a business. There’s no rule saying you have to have a successful business.
“We’re a country that is open to immigration right now,” PM Trudeau said at Fortune‘s Most Powerful Women International Summit in Montreal Monday night, responding to a question about how Canada is competing with the United States on attracting business. “[That’s a] hell of a competitive advantage I don’t see the U.S. matching anytime soon,” he added.
If the Prime Minister is welcoming immigrants with open arms, Americans must take advantage! They along with Mexico are our neighbors. But Canada has a culture and infrastructure most similar to our own.
The acceptance rates at the top Canadian universities are high. You might as well take advantage.
Achieve Financial Freedom Through Real Estate
Real estate is my favorite way to achieving financial freedom because it is a tangible asset that is less volatile, provides utility, and generates income.
By the time I was 30, I had bought two properties in San Francisco and one property in Lake Tahoe. In 2016, I started diversifying into heartland real estate to take advantage of lower valuations. I did so by investing $810,000 with real estate crowdfunding platforms.
Now, my real estate investments generate over $150,000 a year in passive income. Take a look at my two favorite real estate crowdfunding platforms. Both are free to sign up and explore.
Fundrise: A way for accredited and non-accredited investors to diversify into real estate through private eFunds. Fundrise has been around since 2012 and has consistently generated steady returns, no matter what the stock market is doing. For most people, investing in a diversified eREIT is the way to go.
CrowdStreet: A way for accredited investors to invest in individual real estate opportunities mostly in 18-hour cities. 18-hour cities are secondary cities with lower valuations, higher rental yields, and potentially higher growth due to job growth and demographic trends. If you have a lot more capital, you can build you own diversified real estate portfolio.
Recommendation To Build Wealth
Sign up for Personal Capital, the web’s #1 free wealth management tool to get a better handle on your finances. In addition to better money oversight, run your investments through their award-winning Investment Checkup tool. It shows you exactly how much you are paying in fees. I was paying $1,700 a year in fees I had no idea I was paying.
After you link all your accounts, use their Retirement Planning calculator. It pulls your real data to give you as pure an estimation of your financial future as possible using Monte Carlo simulation algorithms.
I’ve been using Personal Capital since 2012 and have seen my net worth skyrocket during this time thanks to better money management.
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