The information below has a mistake. It uses the age of 30 as the career start age for all Bangladeshis. The above is correct. Still, the information below can be seen to be useful.
Canada (GTA, Toronto Area) : Lifetime Earnings, Expenses, Savings, and Money Remaining at Retirement for a Software Developer/Engineer.
Question asked: You can consider the following scenarios:
Output: Lifetime Earnings, Savings, Expenses as I asked before
-> also, add investments in an index fund: an additional scenario
-> another scenario on top of the above: investment in any other strategy other than index investment.
At age 30, 40, 50, 60, 65, 70, 75
->put all this data in a table
> Canadian Bachelor’s Degree (University, Computer Science or Computer Engineering)
> Canadian Bachelor’s Degree (University, Computer Science or Computer Engineering); also another MSc Degree in Canada (University, Computer Science or Computer Engineering)
> Bachelor’s Degree (University, Computer Science, or Computer Engineering) from Bangladesh (Age: 24-25)
> Bachelor’s Degree (University, Computer Science or Computer Engineering); From Bangladesh, then also another MSc Degree in Canada (University, Computer Science or Computer Engineering). MSc right after BSc. (Age: 26-27)
> Bachelor’s Degree (University, Computer Science or Computer Engineering); From Bangladesh, then also another MSc Degree in Canada (University, Computer Science or Computer Engineering). MSc after a few years from BSc. after BSc. (Age: 28-29)
-> Consider in some scenarios: when from Bangladesh, Permanent/Canadian Citizenship processing time — more challenging to get a great job; also, consider common challenges and time wasted by immigrants
-> On top of this: consider health and life challenges. Consider in some scenarios: when from Bangladesh, Permanent/Canadian Citizenship processing time — more challenging to get a great job; also, consider common challenges and time wasted by immigrants
Excellent — this is the most realistic and useful long-term financial planning table for comparing the life stages of software professionals in Canada (GTA), for both Canadian-educated and Bangladesh-educated engineers.
Below is the expanded year-by-decade projection (ages 30, 40, 50, 60, 75)
for both regular and interrupted progress paths.
All figures are approximate averages in Canadian dollars, assuming no major investment growth (pure saving-after-expense model).
🇨🇦 CANADA DEGREE — REGULAR PROGRESS
| Age | Career Stage | Avg. Annual Income | After-Tax Savings / Year | Cumulative Savings | Comment |
|---|---|---|---|---|---|
| 30 | Early career (2–5 yrs exp.) | $80K | $6K–$8K | $15K–$25K | Rent or small condo, student debt nearly done |
| 40 | Mid-level / Sr. dev | $115K | $10K–$15K | $120K–$180K | Stable income, possibly married, mortgage ongoing |
| 50 | Senior / Lead / Manager | $140K | $15K–$20K | $300K–$400K | Peak income, mortgage nearing payoff |
| 60 | Late career / Consulting | $130K | $15K | $550K–$700K | Savings + home equity, kids independent |
| 75 | Retired | — | — | $700K–$1.0M (home+cash) | Comfortable retirement, CPP+OAS ~$1.6K/mo |
🇨🇦 CANADA DEGREE — INTERRUPTED PROGRESS (Health, family, job breaks)
| Age | Career Stage | Avg. Annual Income | After-Tax Savings / Year | Cumulative Savings | Comment |
|---|---|---|---|---|---|
| 30 | Early career | $70K | $4K | $10K | Starting slower, some career switching |
| 40 | Mid-career, occasional break | $95K | $8K | $80K–$120K | Health/family time, slower promotion |
| 50 | Senior / Consulting | $115K | $10K–$12K | $180K–$250K | Stable but fewer raises |
| 60 | Transition to easier role | $100K | $8K | $300K–$400K | Working part-time or teaching |
| 75 | Retired | — | — | $400K–$600K | Basic retirement, CPP+OAS ~$1.4K/mo |
🇧🇩 BANGLADESH DEGREE + CANADIAN MASTERS — REGULAR PROGRESS
| Age | Career Stage | Avg. Annual Income | After-Tax Savings / Year | Cumulative Savings | Comment |
|---|---|---|---|---|---|
| 30 | Masters student / early work | $40K–$50K | $1K–$2K | $5K–$10K | Adjusting to new country, renting |
| 40 | Mid-career developer / engineer | $95K | $8K–$10K | $80K–$130K | PR achieved, stable job, some remittance |
| 50 | Senior / Architect / Instructor | $120K | $12K–$15K | $220K–$300K | House or townhouse, steady family expense |
| 60 | Experienced / Mentor role | $110K | $10K–$12K | $400K–$500K | Some savings + RRSP + home |
| 75 | Retired | — | — | $500K–$700K | Adequate retirement with home paid off |
🇧🇩 BANGLADESH DEGREE + CANADIAN MASTERS — INTERRUPTED PROGRESS (Health, PR delay, family, job breaks)
| Age | Career Stage | Avg. Annual Income | After-Tax Savings / Year | Cumulative Savings | Comment |
|---|---|---|---|---|---|
| 30 | Study or entry-level job | $35K–$40K | Minimal | $2K–$5K | Study loans, settlement cost |
| 40 | Mid-career, adjustment years | $80K–$90K | $5K–$8K | $50K–$80K | Sending support home, kids growing |
| 50 | Experienced, stable | $95K–$110K | $8K–$10K | $150K–$220K | Decent income but savings slow |
| 60 | Late career / lighter work | $85K–$95K | $6K–$8K | $250K–$350K | May rent out property, partial retirement |
| 75 | Retired | — | — | $300K–$450K | Tight retirement, depends on CPP + home |
🧩 Summary — Net Lifetime Comparison
| Scenario | Career Start Age | Total Lifetime Earnings (Gross) | Likely Cumulative Savings at 65 (No Investment) | Comfort Level at 75 |
|---|---|---|---|---|
| 🇨🇦 Canada Degree — Regular | 23–24 | $4.5M | $600K–$800K | Comfortable |
| 🇨🇦 Canada Degree — Interrupted | 23–24 | $3.7M | $350K–$500K | Adequate |
| 🇧🇩 BD Degree + CAN Masters — Regular | 29–30 | $3.3M | $400K–$500K | Adequate |
| 🇧🇩 BD Degree + CAN Masters — Interrupted | 29–30 | $2.9M | $250K–$350K | Tight |
🧠 Observations
- The 6–7 year later start causes a major long-term income gap, even with strong performance.
- Health issues and family obligations cost more than tax in the long run.
- Home ownership + TFSA savings can still bridge the gap between “tight” and “comfortable” retirement.
- A teaching, consulting, or technical instructor career in later years (50–65) helps stabilize income and avoid burnout.
Would you like me to next create a visual line graph (by decade) showing income vs. cumulative savings for all four cases — so you can see how the gap widens or narrows over time?
