I was surfing through the wealth of data available in the Statistics Canada web pages and stumbled upon the net worth statistics of Canadians. The data was collected in a 1999 survey and net worth is defined as the value of all financial and non-financial assets (excluding employer-sponsored pension plans) less any liabilities of a family unit. The family units were then ranked by net worth and divided into five quintiles. The results:
Lowest quintile - Less than $7,400
Second quintile - $7,400 - $50,000
Third quintile - $50,000 - $126,100
Fourth quintile - $126,100 - $270,400
Highest quintile - More than $270,400
It looks like it doesn’t take all that much (between $50,000 to $126,100) to have as much net worth as a median Canadian household.
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4 responses so far ↓
1 Anonymous // Oct 13, 2005 at 5:24 pm
The statistics are from 99. It’ll be interesting to see if there are more people on both ends of the scale, ie., the rich is getting richer, and the poor is poorer.
I love reading your blog. Keep up the good work.
2 Jose Anes // Oct 13, 2005 at 5:28 pm
That puts me into the highest quintile.
And any of us can be there if we are finantially conscious.
Money And Investing
3 Anonymous // Oct 14, 2005 at 5:39 pm
See this for a more detailed net worth breakdown.
Aaron
4 Canadian Capitalist // Oct 15, 2005 at 7:54 am
Anon: Yes, it would be nice to have the latest data, but StatsCan notes that they did the previous survey 15 years before the 1999 one.
Anon: That’s even better info. Thanks!
Jose Anes: Yep, anyone can do it!
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