My father came to Canada with $10 in his pocket. He retired with a six-figure nest egg.
This is how he did it.
He employed the most obvious forms of leverage available to him.
Immigration
In India, opportunities were scarce. In Canada, cheap labour was in demand. Canadian dollars sent back home were valuable, so his family encouraged him to leave.
Labour
My dad worked making fireplace grills for 9 in 2022 dollars). He worked 12 hour shifts, 7 days a week. He often slept in the back of the factory. The owner bought him food and whiskey some nights to say thanks.
Frugality
Dad’s first housing was a two bedroom apartment with five other people. He lived this way for 7 years.
By the time my mother joined him in 1987 he was worth 64k in 2022.
Is this type of journey still possible in 2022? Hundreds of thousands try something similar each year.
I wish them good leverage.