If you are an experienced tech guy and have 100,000.00 dollars with you, what would you do?

By thisisahmed ·
Dear Tech Community,

I will be landing soon in Canada as an immigrant and will be taking around 100,000.00 Canadian dollars with me (My whole life's savings).

I have 18 years of experience in providing advanced level tech support, mostly Windows environment (Can also work on Unix/Linux a bit). Have also worked in Dell USA for 5 years in their Enterprise Expert Center (4 years ago, then returned back to my home country)

Now looking at the job market in Canada, it seems nearly impossible to get a good job there, so I am thinking about starting my own business as "Freelance IT Consultant" but this profession don't need that much investment.

So what to do with my money, just put it in a saving account or buy mutual funds?

Do you guys have any other ideas where I can utilize both my money and knowledge/experience to start a different kind of business and make my life easier/better?

Edit: Here is the link to my resume:

Thanks in advance!

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All Answers

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What I'd do

by NexS In reply to If you are an experienced ...

Is not be an experienced tech guy anymore.
I'd pursue my music career!

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WIth that much money, you could almost get a full tank of gas!

by Slayer_ In reply to If you are an experienced ...

But seriously, Where are you moving from? Canada cannot be thought of as one job market, each province (many are bigger than a good chunk of countries) has a very different job market.
I wish I could give examples but as I only live in one province, I can only say that Manitoba has a fairly high demand for programming and Developer/IT people. But a pure IT, hook up cables and make servers person, there is very little demand for that, many are losing their jobs.
We have 4 clients that share the same IT guy, who is only available part of the year, the rest of the time, he is harvesting or planting or whatever.

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Best way to make a small fortune in IT consulting

by robo_dev In reply to If you are an experienced ...

Start with a large fortune.

To be realistic, starting a small business of any sort is going to take a certain amount of capital, and building a customer base to achieve a sustainable amount of income may take a great deal of time.

Have you ever started a small business before? Have you ever worked for a small startup business? Do you know anyone who has done this?

Remember that creating, selling, and managing a 'business' requires a whole set of skills entirely unrelated to IT. You must be disciplined, a self-starter, a good salesman, and not be afraid to take rejection. If you don't have those skills, then you will spend a lot of time waiting for the phone to ring and little time doing actual IT work.

Regardless of where you are or what you do, it's simply a matter of what customers need, and who else does the same job already.

I would guess that your liquidity needs will dictate putting the money in a bank, as many mutual fund investments are not that liquid, as it's more involved redeeming shares and paying transaction and redemption fees and so forth.

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Reponse To Answer

by thisisahmed In reply to Best way to make a small ...

Thanks for your valuable feedback!

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And probably more importantly

by OH Smeg Moderator In reply to If you are an experienced ...

Why does the amount of your Life Savings change for the better?


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Reponse To Answer

by NexS In reply to And probably more importa ...

Indeed... He must have found $30,000 under his pillow from the Tooth Fairy.

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Yes, you should start doing freelancing

by wengyee In reply to If you are an experienced ...

I think with your experience, it shouldn't be tough to find good opportunities.

But firstly, you'll need to make yourself stand out from the crowd and a good way to start would be through the Internet.

There are many ways how you can offer help based on what you already know. You can try looking for tech support forums like this and help people out with tech related queries.

On top of this, you can also create a site / a blog which is targeted towards the Canadian market so that the locals there know that you're an expert in your area and they can contact you anytime for any freelancing opportunities.

Although I'm currently not getting any freelancing work yet, but through my <a href="">software for enterprise</a> blog, people get to know what I do and from time to time some opportunities arise. I'm sure you can start something up as well. All the best!

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Reponse To Answer

by thisisahmed In reply to Yes, you should start doi ...

Thanks for your valuable feedback! I like the idea of blogging!

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Canada is a very big place

by JamesRL In reply to If you are an experienced ...

Where are you landing? Every city has a different market.

I wouldn't say its impossible to get a good job here. You may find that companies shy away from hiring people without any Canadian experience - I'm not saying that is correct or a good thing, just that it happens. I know there are programs in the Toronto are specifically designed to help immigrants get experience for their resume.

For the record I have hired people with no North American experience, and I'm sure I'm not the only one.

There are many many people in Toronto who offer themselves as independant IT consultants, so there is much competition. There may not be in other markets though.

I don't know if you have your MS certs, but Microsoft has a fair size support organization here, and they have a lot of turnover as people get experience and move on. I know it sounds more like a job you'd take right out of school, but I honestly think getting Canadian IT experience at any level on your resume would be a good thing.

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Reponse To Answer

by thisisahmed In reply to Canada is a very big plac ...

Thanks James for your valuable feedback!

Wouldn't my 5 years working in Dell USA count for North American experience?

My first destination will be GTA and my friends there have already warned me of tough competition in IT consulting

I am worried

Do you know about the market condition in Calgary/Edmonton side!

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