Comments on: Wealth of Canadians: Net Worth http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: GiGi http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/#comment-363516 GiGi Fri, 31 Dec 2010 00:27:41 +0000 http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth#comment-363516 Does net worth take into account only mortgages that are 100% paid off?? If not, then would the balance of the unpaid mortgage be deducted (as it is in fact a liability)? Otherwise I think the values are slightly skewed. I don't think it should include the value of homes because unless they are being sold or generating income (revenue) they aren't really assets...in addition, the value is entirely market dependent, and not guaranteed. Does net worth take into account only mortgages that are 100% paid off?? If not, then would the balance of the unpaid mortgage be deducted (as it is in fact a liability)? Otherwise I think the values are slightly skewed. I don’t think it should include the value of homes because unless they are being sold or generating income (revenue) they aren’t really assets…in addition, the value is entirely market dependent, and not guaranteed.

]]> By: 2005 age average by net worth http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/#comment-308752 2005 age average by net worth Tue, 16 Nov 2010 21:28:10 +0000 http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth#comment-308752 [...] Wealth of Canadians: Net Worth | Canadian Capitalist 12 Jul 2006. The net worth of a median Canadian household in 2005 was $148400 and the net worth distribution. The report also includes a graphic showing the median net worth by the age of major income recipient of the household: Wealth of Canadians: Net Worth | Canadian Capitalist [...] [...] Wealth of Canadians: Net Worth | Canadian Capitalist 12 Jul 2006. The net worth of a median Canadian household in 2005 was $148400 and the net worth distribution. The report also includes a graphic showing the median net worth by the age of major income recipient of the household: Wealth of Canadians: Net Worth | Canadian Capitalist [...]

]]> By: Peter http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/#comment-302351 Peter Mon, 08 Nov 2010 21:54:34 +0000 http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth#comment-302351 Do I include rental income when comparing net worth to others in my income group? Do I include rental income when comparing net worth to others in my income group?

]]> By: Steve http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/#comment-208996 Steve Wed, 20 Jan 2010 14:17:18 +0000 http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth#comment-208996 They really need to get that finance curriculum into our schools ASAP. I can't believe how low these numbers are. I graduated with almost $50k of net worth mostly just from co-op jobs and prudent financial management. If I joined the regular 9-5 rat race I would destroy these numbers. Why is everyone throwing their money away?! They really need to get that finance curriculum into our schools ASAP. I can’t believe how low these numbers are. I graduated with almost $50k of net worth mostly just from co-op jobs and prudent financial management.

If I joined the regular 9-5 rat race I would destroy these numbers. Why is everyone throwing their money away?!

]]> By: Traciatim http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/#comment-200504 Traciatim Fri, 18 Sep 2009 19:29:05 +0000 http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth#comment-200504 VanMan, if you both make 50K (I doubt that low) making your family income 100K USD per year, that puts you in the to 0.66% of the world. Not outrageous? Try doing it all on a family income of 60K or even 40K and see how you do. VanMan, if you both make 50K (I doubt that low) making your family income 100K USD per year, that puts you in the to 0.66% of the world.

Not outrageous? Try doing it all on a family income of 60K or even 40K and see how you do.

]]> By: VanMan http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/#comment-200498 VanMan Fri, 18 Sep 2009 17:23:34 +0000 http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth#comment-200498 It amazes me what some people must do with their money. My wife and I are in our mid 30's and I just figured our net worth to be $915k. About 1/3 of that is due to good timing in the housing market but the rest is just sound money management. She's a teacher and I'm an engineer both with jobs but not outrageous salaries. If you want my advice: focus on paying down ALL debt. Also, try getting by with just one car and be rutheless with monthly recurring expenses. It amazes me what some people must do with their money. My wife and I are in our mid 30′s and I just figured our net worth to be $915k. About 1/3 of that is due to good timing in the housing market but the rest is just sound money management. She’s a teacher and I’m an engineer both with jobs but not outrageous salaries. If you want my advice: focus on paying down ALL debt. Also, try getting by with just one car and be rutheless with monthly recurring expenses.

]]> By: Sean B http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/#comment-172167 Sean B Mon, 08 Dec 2008 00:48:07 +0000 http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth#comment-172167 I think alot of the people who have posted would say that their networth has decreased a little now that we've hit this economic downturn. I think alot of the people who have posted would say that their networth has decreased a little now that we’ve hit this economic downturn.

]]> By: Fecundity http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/#comment-92118 Fecundity Thu, 13 Dec 2007 19:12:20 +0000 http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth#comment-92118 Al, I'd say you've done things right, not wrong. You have $1.5 mil in a home for your family and in securing your future with an RRSP. You're unlikely to be struggling when you retire, and you won't be burdening your kids (assuming you have some), which will allow them to have an easier time in retirement too. The people in the fancy cars and houses may not be able to say the same. It's all about what's important to you. You can save up for a snazzy car if you really want one, but you have to decide for yourself if that's the best option. This was a great set of stats to have. I must admit to being well below median (actually below the 30th percentile), which was sobering. Looks better when I check out my age group though... I'll have no problem getting to $15K by 35. Thanks for posting this. Al, I’d say you’ve done things right, not wrong. You have $1.5 mil in a home for your family and in securing your future with an RRSP. You’re unlikely to be struggling when you retire, and you won’t be burdening your kids (assuming you have some), which will allow them to have an easier time in retirement too. The people in the fancy cars and houses may not be able to say the same. It’s all about what’s important to you. You can save up for a snazzy car if you really want one, but you have to decide for yourself if that’s the best option.

This was a great set of stats to have. I must admit to being well below median (actually below the 30th percentile), which was sobering. Looks better when I check out my age group though… I’ll have no problem getting to $15K by 35.

Thanks for posting this.

]]> By: Al http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/#comment-66941 Al Sun, 16 Sep 2007 17:41:21 +0000 http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth#comment-66941 Hi, I am feeling sort of depressed...calculated my net worth as a family, including my house, assets etc and have come up with a range between 1.5-1.7Million however, i feel i still am struggling.....wonder whats wrong - the problem is that most of the assets are not liquid and in house, rrsp etc.... I am almost 46 yrs old and wonder if i have gone wrong or what.... I see people with fancy cars, houses etc and wonder what they did right that i may have done wrong.... any comments? Hi,

I am feeling sort of depressed…calculated my net worth as a family, including my house, assets etc and have come up with a range between 1.5-1.7Million however, i feel i still am struggling…..wonder whats wrong – the problem is that most of the assets are not liquid and in house, rrsp etc….
I am almost 46 yrs old and wonder if i have gone wrong or what….
I see people with fancy cars, houses etc and wonder what they did right that i may have done wrong….

any comments?

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/wealth-of-canadians-net-worth/#comment-42506 Canadian Capitalist Wed, 06 Jun 2007 04:05:25 +0000 http://www.canadiancapitalist.com/2006/12/07/wealth-of-canadians-net-worth#comment-42506 Wade: I agree with you. Here is a post that makes the same point: <a href="http://www.canadiancapitalist.com/2007/05/16/money-tip-draw-up-a-net-worth-statement" rel="nofollow">Link</a> Wade: I agree with you. Here is a post that makes the same point:

Link

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