This generative-AI marketer makes $223,000 a year. How does he spend it?
“In 10 years, I want to hit $1 million in savings”
Who: Sidharth Iyer, 35
What he does: Director of digital marketing at a generative AI company
What he makes: $223,000 a year, plus a bonus
Where he lives: A one-bedroom condo in Weston
Regular Expenses
Mortgage: $1,600 a month. “I bought my unit in 2019 for $300,000. My mortgage is up for renewal soon. I may gamble and go with a variable rate.”
Cell: $34 a month with Koodo. “I don’t use much data. I’ve had this plan since 2017, when I emigrated from India.”
Internet: $85 a month with Rogers. “This is a promotional rate—I think it’s normally $50 more.”
Utilities: $90 a month. “Hydro hovers around $35 a month. In the winter, it can be as much as $45.”
Groceries: $150 a month. “There’s a Real Canadian Superstore close by. I visit every other week to get milk, yogurt, eggs, some fruit, vegetables and snacks.”
Tiffin Services: $250 a month. “This is an Indian delivery service, good for two meals a day, Monday to Friday. You typically get naan or roti, rice, vegetables and dal. Sometimes there’s also a salad or a dessert. I like that I don’t have to think about what to cook during the week. The food is really good too—it tastes homemade but better than what I could make myself.”
More Toronto Budgets
Eating out: $100 a month. “I like to meet friends for lunch and a movie, usually downtown. We tend to go for Indian, Lebanese or Mediterranean. I don’t drink, but sometimes my friends want to meet up at a bar, so I’ll join them and get some finger food.”
Movies: $50 a month. “I’m a big movie buff. I don’t mind going to the cinema alone—I actually prefer it because it lets me get really engaged. I’ll get popcorn, a drink and a snack at the concession stand. And if something cool comes out in IMAX, I’ll splurge for those tickets.”
Transportation: $50 a month. “I use Presto to get around. The UP Express station is close to me, which is convenient if I’m meeting a friend near Union Station. Otherwise, I’ll take the TTC.”
Investments: $12,000 a month, on average. “In 10 years, I want to hit $1 million in savings and reach financial independence.”
Recent Splurges
Condo down payment: $137,500, spread over two years. “In March of 2022, I bought a two-bedroom unit in East Danforth. It will likely be ready in 2028. At that point, I plan to sell or rent out my Weston condo and move into the new place.”
Upcoming family vacation: $2,500. “Last year, I went home to visit my parents, so this year, they’re coming to Canada. We usually do a week-long trip outside of Toronto—we’re thinking Vancouver. I’ll cover the flights and an Airbnb.”
![](http://www.facebook.com/sharer.php?u=https://torontolife.com/city/this-generative-ai-marketer-makes-223000-a-year-how-does-he-spend-it/&title=This generative-AI marketer makes $223,000 a year. How does he spend it?&picture=https://torontolife.com/wp-content/uploads/2024/03/Sidharth-Iyer-COL-Sidharth-Iyer-selects-8.jpg&description=
Who: Sidharth Iyer, 35
What he does: Director of digital marketing at a generative AI company
What he makes: $223,000 a year, plus a bonus
Where he lives: A one-bedroom condo in Weston
Regular Expenses
Mortgage: $1,600 a month. “I bought my unit in 2019 for $300,000. My mortgage is up for renewal soon. I may gamble and go with a variable rate.”
Cell: $34 a month with Koodo. “I don’t use much data. I’ve had this plan since 2017, when I emigrated from India.”
Internet: $85 a month with Rogers. “This is a promotional rate—I think it’s normally $50 more.”
Utilities: $90 a month. “Hydro hovers around $35 a month. In the winter, it can be as much as $45.”
Groceries: $150 a month. “There’s a Real Canadian Superstore close by. I visit every other week to get milk, yogurt, eggs, some fruit, vegetables and snacks.”
Tiffin Services: $250 a month. “This is an Indian delivery service, good for two meals a day, Monday to Friday. You typically get naan or roti, rice, vegetables and dal. Sometimes there's also a salad or a dessert. I like that I don't have to think about what to cook during the week. The food is really good too—it tastes homemade but better than what I could make myself.”
[sjmcm layout="content_more_split_3" calling_post="645695" posts="3:post_tag:cost-of-living:1:" label="More%20Toronto%20Budgets"]
Eating out: $100 a month. “I like to meet friends for lunch and a movie, usually downtown. We tend to go for Indian, Lebanese or Mediterranean. I don’t drink, but sometimes my friends want to meet up at a bar, so I’ll join them and get some finger food.”
Movies: $50 a month. “I’m a big movie buff. I don’t mind going to the cinema alone—I actually prefer it because it lets me get really engaged. I’ll get popcorn, a drink and a snack at the concession stand. And if something cool comes out in IMAX, I’ll splurge for those tickets.”
Transportation: $50 a month. “I use Presto to get around. The UP Express station is close to me, which is convenient if I’m meeting a friend near Union Station. Otherwise, I’ll take the TTC.”
Investments: $12,000 a month, on average. “In 10 years, I want to hit $1 million in savings and reach financial independence.”
Recent Splurges
Condo down payment: $137,500, spread over two years. “In March of 2022, I bought a two-bedroom unit in East Danforth. It will likely be ready in 2028. At that point, I plan to sell or rent out my Weston condo and move into the new place.”
Upcoming family vacation: $2,500. “Last year, I went home to visit my parents, so this year, they’re coming to Canada. We usually do a week-long trip outside of Toronto—we’re thinking Vancouver. I’ll cover the flights and an Airbnb.”){kind=link}