Are you in the 1% Net Worth in Canada?

[jeff2]

$1,500,000.00 is top 2.5 % and that is me but my wealth flucuates with the stock market as I invest in index funds only which is what 99% of the popualation should do IMHO

but

you should include what an annunity would cost to cover your lifetime inflation indexed pensions, which is all government pensions and some private ones are as well as OHIP and Trinity plan

and that depends on interest rates and such an annunity would cost more than you think it does

Yes, some government workers have indexed pensions that are worth more than their house.
For lower income workers, up to a certain point the pension is just replacing GIS.
You can have a homowner receiving the GIS and a renter not getting it because of a pension or too much in the RRSP.

 

[Zoot Allures]

Ultra-High-Net-Worth (UHNW): About 10,395 Canadians (0.0002% of the population) are UHNW individuals, possessing over $30 million USD in assets ($41.69 million CAD)

They're the guys dropping $500 to $1k per hour on SPs like an ordinary person giving candy to a kid.

They're called "whales" in business and everyone hopes to catch/keep a loyal one. They can change a provider's standard of living overnight.

Vegas calls them whales as well because they have caught a big fish and they will treat you like a king until your money runs out

 

[Sonic Temple]

Nope.

 

[Zoot Allures]

Yes, some government workers have indexed pensions that are worth more than their house.
For lower income workers, up to a certain point the pension is just replacing GIS.
You can have a homowner receiving the GIS and a renter not getting it because of a pension or too much in the RRSP.

I think anything over 90K you lose some of you OA pension but not all

 

[jeff2]

I think anything over 90K you lose some of you OA pension but not all

Yes, those on the high end have to worry about that clawback.

 

[Bucktee]

Then there are the C-suite employees that get shares in a company as part of their employment package. The more successful the company performs, the more money they have for retirement.

 

[jeff2]

Then there are the C-suite employees that get shares in a company as part of their employment package. The more successful the company performs, the more money they have for retirement.

It is interesting that as the private sector has gutted DB pensions(usually non indexed) and retirement health care benefits over the last few decades, they often keep them for executives.

 

[xix]

The Population of Earth is 8.02 Billion
Canada is 40.3 Million as of January 12:00am.

1% of 8,000,000,000 (billion ) people is = 1% of 8000000000 is 80,000,000 = 80 mil

But there are only 3,145 rich people over 1 billion worth.

1% of 40.3 Mill = 4,030 people are the top in Canada.

I am way closer to the bottom than a Librarian.

 

[Shaquille Oatmeal]

Not even close lmao.

 

[Ceiling Cat]

Happy to fly quietly under that high bar.

If you aim high and achieve great things, it’s often wiser to keep a low profile. In recent years, it feels like the world has taken a chaotic turn. Before 2020, mass shootings and vehicular attacks were far less frequent. We didn’t see tools locked up at hardware stores or mobs ransacking high-end shops for luxury goods and electronics.

When it comes to cars, choose one that brings you joy behind the wheel, rather than one designed to impress strangers. A flashy vehicle might attract the wrong kind of attention. The last thing anyone needs is to be dragged from their car at a stoplight, left injured, while carjackers speed off and put others at risk.

 

[Ahri]

I don’t even wish to be the top 1% being in the top 10-25% is good enough for me.

All I want is to own my own home in Canada but that itself becomes more and more unlikely with the way things are going

 

[Jwells]

A member here on TERB told me he owns multiple high rise apartment buildings. with rents going up the way it has in the last few years he must be in the top 1% of the top 1%. That is not even including his huge stock portfolio.

Are these properties paid off or in perpetual debt? Since that would skew the networth calculation. Is he refinancing every 5 years to increase cashflow and take on more debt for more properties?