In this article, we’re going to highlight the net worth brackets for 2020 in Canada based on various percentiles, and then a review of the top 1% of the wealth.
** As a reference, if you want to know how your net worth compares to other Canadians, you can use the net worth calculator which you can find on the following page: Net Worth Percentile Calculator for Canada Including 23 Wealth and Income Statistics
According to the PBO (Parliamentary Budget Officer) 2020 report, the top 1% of Canadian households hold 25.6% of total wealth in the country, and the top 0.5% of Canadians have 20.5% of the total wealth. What this means is that 1,8 million Canadians hold over 20% of Canadian wealth. What’s even more surprising is that just slightly over 37,000 Canadians hold over 5% of Canada’s wealth.
** if you want to know how to become a decamillionaire, you can read this article: How to Become a Decamillionaire, Grow your Net Worth to $10 Million, and Join the 1% Club
| Family Wealth Quantile | Share of Total Wealth | Number of People |
|---|---|---|
| Top 0.01% | 5.60% | 37,590 |
| Top 0.1% | 12.10% | 375,900 |
| Top 0.5% | 20.50% | 1,879,500 |
| Top 1% | 25.60% | 3,759,000 |
| Top 5% | 43.40% | 18,795,000 |
| Top 10% | 56.40% | 37,590,000 |
| Top 20% | 73.50% | 75,180,000 |
| Middle 40% | 25.30% | |
| Bottom 40% | 1.20% |
With regards to the wealth stats and the table below, what you will find particularly interesting is the jump required as you increase net worth from the 99% percentile to 99.5%, which has a jump of over $3 million, and then from 99.5 to 99.6% is $2 million. The higher up the percentile you go, the harder it is to achieve. For example, the jump from 99.8 to 99.9, which is 0.1% requires an additional $5 million.
Listed below, in the left column, you will find the percentile, and in the right column, you will find the Canadian dollar net worth required in order to reach that percentile.
| Net Worth Percentile | Net Worth |
|---|---|
| 10 | $50,000.00 |
| 20 | $185,000.00 |
| 30 | $285,000.00 |
| 40 | $400,000.00 |
| 50 | $482,000.00 |
| 60 | $582,000.00 |
| 70 | $685,000.00 |
| 80 | $780,000.00 |
| 90 | $840,000.00 |
| 93 | $900,000.00 |
| 94 | $930,000.00 |
| 95 | $980,000.00 |
| 97.5 | $1,500,000.00 |
| 99 | $9,737,000.00 |
| 99.5 | $12,800,000.00 |
| 99.6 | $14,000,000.00 |
| 99.7 | $15,000,000.00 |
| 99.8 | $20,000,000.00 |
| 99.9 | $25,000,000.00 |
| 99.97 | $30,000,000.00 |
**All dollar amounts quoted are in Canadian dollars.
