How Living in Toronto (Slowly) Burns You Out Mentally | Financial & Social Issues

Summary

The video script delves into the challenges of living in Toronto, highlighting the city's unaffordability and competitive nature. It discusses the financial burden, with skyrocketing rent and housing prices, and the pressure to excel professionally. The script also touches on the impact of long commutes and the diminishing social connections due to the city's vastness. Despite acknowledging Toronto's opportunities, the speaker shares a personal perspective that living in the city can be mentally exhausting and questions its sustainability for young professionals.

Takeaways

• 🏙️ Toronto is described as 'impossibly unaffordable' with high living costs, particularly in real estate.
• 🏡 The price of a one-bedroom condo in Toronto has significantly increased, highlighting the city's inflated housing market.
• 📉 Despite a recent decline in rent prices, the cost of living in Toronto remains a significant burden for many residents.
• 💼 The competitive nature of Toronto's job market and the pressure to earn more to afford the city's lifestyle is a common theme.
• 🚗 Long commute times and traffic are part of the daily grind for many Torontonians, impacting their quality of life.
• 💰 The financial strain of living in Toronto often leads to residents working multiple jobs or side hustles to make ends meet.
• 🤔 The speaker reflects on the diminishing appeal of career opportunities as they age, valuing stability and personal time more.
• 👥 The Greater Toronto Area's vastness can affect social connections, with distance and time constraints limiting social interactions.
• 🌆 The speaker contrasts the lifestyle in Toronto with smaller Canadian cities, noting a difference in priorities and lifestyle choices.
• 🔄 The constant pursuit of more (money, space, etc.) in Toronto is portrayed as a never-ending cycle that can lead to burnout.

Q & A

What is the main concern the speaker has about living in Toronto?

The main concern the speaker has about living in Toronto is the high cost of living, which makes the city increasingly unaffordable, especially for young professionals and those not born into wealth or running a successful business.

How has the speaker's perspective on living in Toronto changed over time?

Initially, the speaker was driven by opportunities and career prospects, but over time, they started valuing stability, family, and simple pleasures more, noticing that the Toronto lifestyle, characterized by a constant pursuit of wealth and corporate success, has remained the same.

What is the significance of the speaker's comparison between Toronto and Winnipeg?

The comparison highlights the difference in lifestyle priorities between a major city like Toronto and a non-major city like Winnipeg, suggesting that the lifestyle in Toronto is more competitive and financially demanding.

What financial burden does the speaker mention as being amplified in Toronto?

The financial burden mentioned includes the high cost of living, with rapidly increasing prices for groceries, gas, and real estate, making it difficult for residents to afford basic standards of living without working multiple jobs or relying on family wealth.

How does the speaker feel about the competitive nature of Toronto?

The speaker acknowledges being part of the competitive lifestyle in Toronto, striving to be the best in their career. However, they also recognize the negative impact of this constant competition on mental well-being and the unsustainable lifestyle it promotes.

What is the speaker's opinion on the necessity of a high salary to live in Toronto?

The speaker believes that a high salary is almost a necessity to live in Toronto, especially for those without a support system, due to the city's high cost of living and the pressure to maintain a certain lifestyle.

How does the speaker describe the impact of long commutes on the quality of life in Toronto?

The speaker describes long commutes as exhausting and stressful, contributing to a decline in mental well-being and reducing the time available for social connections and personal life outside of work.

What does the speaker suggest about the relationship between proximity and social connections in Toronto?

The speaker suggests that living in different areas of the Greater Toronto Area can strain social connections due to the time and cost associated with commuting, leading to less frequent social interactions.

What advice does the speaker give to those considering moving to or leaving Toronto?

The speaker advises that making it work in Toronto is possible but requires a clear understanding of the financial and lifestyle implications. They recommend considering one's personal circumstances and support system before making a decision.

How does the speaker summarize their overall experience and feelings about living in Toronto?

The speaker summarizes their experience by expressing that while living in Toronto can be mentally exhausting and challenging due to the high cost of living and competitive nature, it is still possible to make it work with the right mindset and circumstances.