What are you worth?

FOOD modified

Rick just read “Personal Finance for Canadians for Dummies,” and actually admits to it. “I found it interesting that it suggests not including your personal residence as an asset when calculating your net worth,” he says, ”unless you plan to live off the money you have tied up in it. It seems to me that is not how most homeowners would see it.”

Now Rick knows why the book is called that. If you don’t think your personal real estate is part of your personal finances, you probably live in a double-wide next door to a ‘76 Monte Carlo on cement blocks.

In fact I ‘ve noticed a number of blog dogs stumbling over this concept of net worth, especially when I talk about my Rule of 90. So let’s take a brief minute now (it’s July, what else do you have to do?) and address this basic action.

First, don’t believe what the pointy heads in Ottawa tell you. Recently StatsCan earned fat headlines saying the median net worth of Canadian families hit $243,800 in the latest period (2012), which is an increase of 45% since 2005. Realtors rejoiced upon hearing the news. Proof, they cried, that people are not overextended! Hosiah!

But that’s a bogus number. First, 30% of the net worth is made up of pension assets, which are not only years away from being received in most cases, but which may never be there since pension plans are under assault. More meaningful is the chasm now opening up between the wealthy and the rest. The richest 20% of Canadian families had a median net worth of $1.4 million, while the bottom 20% clocked in at just $1,100.

Overall, houses equal 30% of our collective worth. But since the bottom fifth rarely own a home, and the top fifth usually have diversified wealth, it’s the middle 60% who have overwhelmingly hitched their futures to residential real estate.

Well, how do you stack up? I’d be interested in knowing.

Net worth is the number that’s left after you subtract all liabilities from your total assets. It’s a key metric not only for talking the bank into lending you $175,000 for a sailboat, but also for charting a path to financial security. And yes, Rick, whatever your house is worth, and what it’s mortgaged for, are key elements in this discovery.

First, list what you own. That includes real assets: The house (use a conservative estimate of current market value, not what you paid for it). The Kia. The Elvis-on-velvet art collection. Then add in financial assets: cash on hand or in the orange guy’s shorts. RRSPs and tax-free savings accounts, per your current statements. Pathetic GICs and dead-end cash in your chequing account.

There is some debate about including the current balance in your company-sponsored pension plan, since most people have a defined-contribution plan and its ultimate value is completely unknown (and taxable). Ditto for your RRSPs, because this money is also pre-tax – in other words, a third or more of your retirement savings is actually owned by the government. Even teachers and civil servants with defined benefit pensions may think twice about adding in future benefits – unless you plan on commuting your pension (highly recommended) and taking over management of it upon retirement. It’s certain there will be an assault on government pensions over the next decade or two, as it already happening with some teachers, for example.

Now, deduct from this total what you owe. The mortgage is a biggie. Then the car loan, an outstanding line of credit or HELOC. Any investment loans. Credit card balances. Student debt. RRSP home buyer pay-back. Money the CRA is up your butt about. Unpaid bills.

The difference is your net worth. If it’s $283,400 then you are (according to a really flawed yardstick) a median person. Above $1.4 million, you’re elite. Below $1,100 and we’ll assume you wandered into this blog looking for a bathroom.

So tell us where you stand. And when your net worth is calculated, figure out how much your real estate equity (current value minus the mortgage) comprises of it. Tell us that, too.

For example, a $700,000 slanty semi in Leslieville with a $575,000 mortgage has equity of $125,000. If the hipsters owning it have $75,000 in other stuff (TFSAs, cash etc.), then of their $200,000 in net worth the house equals 64%. Is that too much? Not if they’re 26 years old. And what are the odds of that?

Well, over to you.


#1 LifeXpert on 07.21.14 at 5:06 pm

32/29 just under 700K, 90 in real estate (I know Garth :)) now if only professional degrees and designations would count for something we would be multimillionaires.

#2 active on 07.21.14 at 5:08 pm

29 years old, no debts, net worth $140K (do not own real estate). Boom!

#3 bguy1 on 07.21.14 at 5:09 pm

Net Worth: ~$260,000
Real Estate %: 0 (Renters)
1) Includes PV of DB Pension Plan
2) Before tax value of RRSPs & Non-Registered Assets

#4 Taber Nac on 07.21.14 at 5:12 pm

Net worth over 5 million USD. Percentage caught up in real estate: zero. (We are happy renting at 4500$ per month waiting for the high-end home market to collapse in 2015-2017.)

“Taber Nac”

#5 Cliff Claven on 07.21.14 at 5:15 pm

I have a custom ‘dashboard’ in excel where I enter present values, and tracks everything. So I have this figure available down to the penny, just a simple copy/paste away!

Net Worth = $694,352.16

This factors in a 7.58% deduction on my estimated resale value of the house to cover real estate fees and land transfer tax (Toronto), to only use the “post sale residual”

I have grossly violated Garth’s rule of 90 – since I’m early 40’s:

26.7% = Financial instruments
73.2% = Real Estate (paid-for house)

Of the financial component:
62% – RSP
19% – TFSA
18.5% – Unregistered

#6 Son of Ponzi on 07.21.14 at 5:28 pm

This is your time to shine.

#7 Calgary Owner (2nd. Round) on 07.21.14 at 5:30 pm

Net worth ~ $160k

Ages: 34 and 36

Real Estate: $80k (very conservative for today’s Calgary market)

RRSPs: $20k (planning to dump a lot more this year to split income)

TFSAs: $15k

DC Plan through work: $35k

Company shares: $10k

I used to be compliant with the rule of 90, but the value of the house has spiked recently. I don’t really have any expectations on the equity on it, we intend to live there for a long time.

#8 Son of Ponzi on 07.21.14 at 5:31 pm

My son 14 now and he will play in the NHL
He say’s he will look after me in my old age.
How do I account for this in my retirement planning?

#9 Tkid on 07.21.14 at 5:36 pm

$300,000 @ 46 years. No debt. No real estate.

#10 mitzerboy on 07.21.14 at 5:36 pm

$700,000 ……by the way where is the bathroom ?

#11 White Russian on 07.21.14 at 5:37 pm

NW – $600K
Rent – $1,955 / mo.
Savings for a house – $317K (52% of NW)

Real Estate – 85K
TFSA – $25K
ESOP – $33K
RRSP/LIRA/Pension – $140K

#12 HD on 07.21.14 at 5:39 pm

Net worth: $117K
No Real Estate
DB plan not included in net worth



#13 Soused on 07.21.14 at 5:41 pm

Assets: Do websites count?
Debt: $35,000

So uh, -34,000.

#14 OldManWinter on 07.21.14 at 5:44 pm

detached house T.O. – est worth 450k – 180k mortgage left
135k – savings , RRSP’s, TFSA’s.
39 and 33 years old
no debts (other than mortgage)
does that make the net worth – 405k?

#15 tarsandbeetle on 07.21.14 at 5:44 pm

29 years old. (30 in September)
Net worth: $149,000
No mortgage
Monthly phone bill.
Company pension (30k), personal pension (28k), personal savings (60k), TFSA (32k)
Employed : $180,000 / year traveling on days off so it should be much more. YOLO

#16 sofa king wot on 07.21.14 at 5:45 pm

51/53; $2.7M; $900K in real estate. No debt

#17 wendi1 on 07.21.14 at 5:48 pm

I just calculated this (I do it every quarter). Ages 55 & 56.

$1.3 Million net worth, of which $300K is RE, and none is debt or pension.

Everything is taxable, though, except for the RE, and about $55K TFSA. Even the investment accounts have capital gains tax payable on them.

#18 totalinvestor.com on 07.21.14 at 5:50 pm

Canada’s Magnificent Housing Bubble at Risk, Fitch Says


#19 Diane on 07.21.14 at 5:51 pm

Household net worth (me and my SO): $240k. 35 years old. No debt. Just sold the house. Not including the DB pension plan, since who knows?

#20 Gen Zzzzz on 07.21.14 at 5:57 pm

32/29: -$142,000, no real-estate, an edumacation ain’t cheap

#21 Dude Duderson on 07.21.14 at 5:59 pm

26 years old.

Net Worth = $71 000

Real Estate equity is approx 73% of that net worth.

So by Garths math I’m overexposed by about 8% of weighting… which I’m trying to to change by investing more into the TFSA and reducing the last of the non-mortgage debt ( car loan).

#22 Youknowit on 07.21.14 at 6:00 pm

$85K. 27 years young. 0% in real estate.

#23 gladiator on 07.21.14 at 6:01 pm

ages: 37/35
net worth: ~150k USD plus about 40k CAD in defined contribution pension plan; zero % in RE (renting). Quite low net worth for this age, but given the 13$/hr that I started from in 2004 when we immigrated to Canada, I’d say it is okay, especially that we also had 2 kids in the mean time and still living on one income, which will top 100k this year. Saving ~30% of my take-home pay.

#24 Adelphis on 07.21.14 at 6:05 pm

I apparently earn less than anyone else who reads your blog! I am a 27-year-old with no debts and a net worth of about 35,000, with a yearly income of only about 24,000 on a good year.

So no worries if your advice isn’t always geared towards us apparently ‘impoverished’ few. Frankly, I don’t know how anyone earning 60k or more (without five kids), isn’t dancing down the street, tossing money at fire hydrants, just because they can. (Which seems like fun, admittedly.)

#25 Smoking Man on 07.21.14 at 6:07 pm

Here we go, another 400 comment brag feast….

My net worth…… 1 dollar

#26 Shawn on 07.21.14 at 6:10 pm

Garth, you will show us yours…

#27 TurnerNation on 07.21.14 at 6:12 pm

Hoping our forum host would post first.

But more interested in Blithe Barrington’s

#28 8102 on 07.21.14 at 6:13 pm

No Debt.

$800,000.00 in Investments, Cash, and Pension Funds.

No Real Estate – Rent.

Real Estate makes my skin crawl right now…

#29 Missionary Position on 07.21.14 at 6:15 pm

Net worth does not include a non-fungible asset like real estate …that’s just sales talk from the debt pimps. Tell the bank you have a million dollar house and no job….see how much they lend ya…….fat zero.

Borrowing against your house only creates debt…..debt is not ‘net worth’…..it is negative net worth. You can sell your house and the net proceeds if any are net worth…..you can take a reverse mortgage and the proceeds of the loan only are net worth….because the debt is compounding semi-annually on the balance….and still they’ll only loan up to 40% of the ‘estimated value of their appraisal….not on the word of your….agent.

RRSP is deferred tax……net only of taxation in the year of withdrawal……not fungible net worth. Withdraw over $5 grand in a calendar year and they start by with holding 10%…….that’s a 10% ‘net worth’ haircut off the top…..just the start…..doncha’ know.

If your mortgage and other debt exceeds the amount of liquid assets you have aside from real estate etc…then you have negative net worth. Trust me….you’ll get nothing for your car if you’re in a panic to sell it. Same goes for every other thing you might want to list on your ‘net worth’ statement. Bottom line is…the bankster is only going to loan you what your income will repay…..the house is just collateral that you put up for hock when you borrow against it.

If you don’t have your million in your trading/cash account…..net of margin and all other encumbrances then you’re true net worth is zippo.

It’s lightning in a bottle if you’ve made over a million under the Canadian tax regime…..only .85% of us have.

#30 Bored in Alberta on 07.21.14 at 6:15 pm

Net Worth = $1,500,000 ish
Real Estate = $375,000 ish
35/38 years old

#31 the Jaguar on 07.21.14 at 6:16 pm

Financial Institutions generally back out ‘assets not easily converted to cash”, i.e. your 1967 Ford Thunderbird Classic (with suicide doors) may be a beauty, but it won’t be considered a tangible asset. And you can also subtract your small scale recreational toys. And your coin collection, furs, jewelry, and baseball card collection ( although that last one does seem a little mean spirited) Think marketability. And never take it personally. It’s never about you. It’s always about the money and the recovery of debt. They like two ways out of every scenario. They count every debt, but only give you value for some of your assets.
Or maybe this all just came to me in a dream.

#32 SF on 07.21.14 at 6:17 pm

This is for the household. Both of us are 47.

Net worth, not including commuted value of a defined benefit pension plan, pre-tax on the RRSP, about $700k. Probably close to a million if the estimated commuted value of the RPP were included.

0% in residential real estate.Woo Hoo! Very happy renting!

The rest is invested: RRSP, TFSA, RESP and non-registered accounts.

#33 Van Renter on 07.21.14 at 6:18 pm

Age 50. Own rural/recreational property and future retirement property (small town interior, currently rented). Rent primary residence in Vancouver.


Rural Property $250k
Rental Property $300k
Sum of RRSPs/TFSA/Non-reg $1180k


HELOCx2 $120k
Tax Liabilities $140k

Net Worth $1470k

29.25% RE
70.75% Liquid

#34 RuleOf90Violator on 07.21.14 at 6:28 pm

Age: 29
Net worth: $475,880
Real estate: 84% (no mortgage, though?)
TFSA maxed, no RRSP, no debt

#35 T.O. Bubble Boy on 07.21.14 at 6:28 pm

Garth – you hit on 1 of the 2 biggest mistakes in calculating Net Worth:

1) Taking RRSP/Pension at full value. I always just take 60% (assuming 40% tax, hopefully a worst case scenario).

2) Not including tax liabilities for unrealized capital gains. So, if you have $500k in equities, but they’re up $100k from the cost base, you have something around $20k (40% tax on 1/2 of the gain) in a tax bill coming when you sell.

Another variation on #2 is when someone has stock-based compensation (RSUs, options, etc.), and doesn’t factor in the taxes when those are eventually cashed in.

These 2 pieces can make a HUGE impact on overall net worth calculations. If your main source of net worth is investments in a RRSP, it could make a 40% difference!

#36 Rainclouds on 07.21.14 at 6:28 pm


1.5M (invested)

No Debt, rent

#37 ø on 07.21.14 at 6:31 pm

Net Worth: ~$220,000
Real Estate %: 0 (¡Renters!)
1) Includes PV of DC Pension Plan
2) Before tax value of RRSPs & Non-Registered Assets
3) 41 & 34 yo.
4) Expect to be at “Median” in a few months.

#38 T.O. Bubble Boy on 07.21.14 at 6:32 pm

@ #25 Smoking Man on 07.21.14 at 6:07 pm
Here we go, another 400 comment brag feast….

My net worth…… 1 dollar

hahahah – I’m sitting back and waiting for the 1%-ers to post… should be an entertaining night.

also – if someone has say $5M+ in net worth, why are they working?

For example… #4 Taber Nac, may I ask: are you working? If so, why not retire/relax?

#39 Ray Skunk on 07.21.14 at 6:33 pm

$250k. 35.

Of which:
$68k RRSP
$38k TFSA
$10k car
$134k cash
Zero company pension.
Zero RE.
Zero debt.

Bit of a late starter here… here’s the ramp-up:
10 years ago: $17k.
5 years ago: $80k.
2 years ago: $150k.

Projected to save $50k this year, plus another $20k gained from investment income.

IF (and that’s a big IF) RE does correct by 20-30% within the next five years AND my financial situation (i.e., job) stays the same, I should have enough in cash to buy a property in case by the time I’m 40 – with TFSA and RRSP untouched. If no correction, no worry – I’ll just keep renting and saving, I’m only buying RE if it’s on sale :)

It’s been quite reasonable so far, now where are the 26-year-olds with millions?

#40 takla on 07.21.14 at 6:33 pm

Sorry Garth…..Still remember when my dad chased away the first census taker THEY sent to our home back in the early 70’s,can still hears dads booming voice”get the hell off my property and tell Trudeau to mind his own god damed business”
With that the census papers were crumpled up and thrown ……An early lesson in keepin my cards close to my chest as good ol’ dad would say.
Will generalize tho and say were guaranteed to afford the high end cat food after retirement…

#41 Ray Skunk on 07.21.14 at 6:34 pm

And by “case” of course I mean “cash”

#42 Randy on 07.21.14 at 6:35 pm

Security devices and gun sales and bullets are way up in the U.S. in advance of the Zombie Apocalypse. As if we didn’t have enough to worry about..? Don’t worry about buying real estate…

#43 TurnerNation on 07.21.14 at 6:36 pm

Ps. as this blog has mentioned it a few times…just imagine if that plane had been filled with 280 Palestinians.
Think it would have gotten more than a one-liner mention? No.
66 years of controlled media washing for that.

#44 Italians love real estate on 07.21.14 at 6:38 pm

I am curious to hear Garth’s details ??

#45 mic on 07.21.14 at 6:39 pm

That guy in the funny outfit (picture above) looks an awful lot like Garth’s Twitter account picture on the top right of the page …

#46 David w on 07.21.14 at 6:40 pm

27 yrs old and $120k networth. No real estate. The 120 k doesnt include the $60k tied in my pension.

#47 Stomper on 07.21.14 at 6:41 pm

Net worth $1.3m
Real estate 10%

#48 Italians love real estate on 07.21.14 at 6:42 pm

As for my details .. Well into the millions , all real estate , Garth’s rule of 90 completely and obscenely violated , No BS financial assets of any kind or plan types ( RRSP’s TFSA’s RESP’s )

Pay obscenely low rates of tax( amazing what you can do with rental property).

Speaking fluent Italian always helpful with others of my cultural background and similar circumstances

#49 vitalic on 07.21.14 at 6:43 pm

37 years old
175000 in savings account
36500 in tfsa invested in Us, International, and Canadian stocks
160000 in union pension
no debt and rent basement apartment for 800 dollars a month.
Total 372000

#50 TheCatFoodLady on 07.21.14 at 6:45 pm

#24 – Adelphis: Close! The Main Squeeze & I are sitting right around where you are for annual income & most of that, less what I earn is generated from Ontario Disability Support Plan. They have stringent rules about assets, permitting certain amounts/classes of exempt assets & ‘allowable’ assets.

Currently, we’re sitting at roughly $77,000 in assets but most importantly, no debt & a seasoned criminal profiler would pale listening to my loonies scream.

Damned good thing we have our needs well covered, cheap wants & not a whole lot of ‘stuff envy’. At our ages, (54/53), we’ve positioned ourselves so that we shouldn’t have to move again & our location in terms of practicality will work for decades yet barring an absolute catastrophe.

#51 mark on 07.21.14 at 6:47 pm


411k in liquid assets.

No Debt. No real estate.

#52 omg on 07.21.14 at 6:48 pm

$2.25 million

less $165,000 debt

zippo real estate

my best investment ever – selling my Victoria house in ’06 and averaging into investments from 2007 to 2011. Could now pay cash for my old house and have $500k left over.

#53 omg on 07.21.14 at 6:50 pm

#25 Smoking Man
Here we go, another 400 comment brag feast….

ha……..that’s rich coming from you!

#54 ja on 07.21.14 at 6:52 pm

40 yes old. Net worth. $810,000. HOUSE WORTH 375,000, $24000 LEFT ON MORGAGE

#55 DM in C on 07.21.14 at 6:52 pm

Median range — 40% net worth in RE. According to rule of 90, 90-43 = 47. Not bad.

#56 Robert on 07.21.14 at 6:54 pm

Net worth 2.2 mil own bung in Calgary rented. Age 52 expat at the moment. Never took on to much risk but was also never interested in keeping up with the Jones. Always kept in mind to watch the penny’s and the dollars would take care of themselves. Having a like minded spouse is crucial.

#57 rob on 07.21.14 at 6:55 pm

31/30 years old

Net worth about $370,000
Real estate: 0%
Investments: 100%

#58 Hazer on 07.21.14 at 7:00 pm

26 y/o (1 more year of studenting)

~5700 Net
0 RE
TD e-series MF within TFSA for the financial component

#59 omg on 07.21.14 at 7:04 pm

Let’s talk about REDUCING government pensions

Is it possible for governments to reduce already “earned” defined pension benefits. (yes I know “earned” is a bad description of any benefit for government employees).

But for some guy working for 20 years for the feds who has a pension benefit of say $5000 a month coming when he retires, is it possible for the government to cut this down to say $4000/m.

I mean let’s face it the world would come to an end. We would have marching in the streets, work to rule, reports on the CBC about retired civil servants having to eat cat food, etc. etc.

I am sceptical that short of default, Canadian governments would never reduce the pension benefits that have accrued to government employees.

It would be great if they could reduced the pension benefits but I doubt any government will take it on. Especially since Canadians seem so willing to accept higher taxes.

#60 moneymike on 07.21.14 at 7:07 pm

29/27, 55K between the two of us just waiting to be dumped into a diversified portfolio..

#61 walltiger on 07.21.14 at 7:07 pm

48/32 retired.
Net Worth : 7.5 mil
House: 20% of NW.
Debt: 0%

#62 Smoking Man on 07.21.14 at 7:07 pm

#27 TurnerNation on 07.21.14 at 6:12 pm

Hoping our forum host would post first.

But more interested in Blithe Barrington’s

Actually it’s Blithe holding up the book release, not happy with the dialog.. Having difficulty bringing out pure unbridled arrogance and ego…

#63 Smoking Man on 07.21.14 at 7:11 pm

#44 Italians love real estate on 07.21.14 at 6:38 pm

I am curious to hear Garth’s details ??

Have you not heard of those Tax Man Commercials, DioGuardi tax lawyer, never post your wealth on line for CRA to use against you..

Do you think Garths an idiot…

#64 LH on 07.21.14 at 7:13 pm

I am a sucker for these posts.

Age 30 and wifey 30 too. Four kids so far 0-5.
Net worth north of 6 bucks in usd.
Primary residence approx 12% of that.

Re T. O. Bubble Boy

Why do I still work?

1. Trading billions of face notional derivatives is fun
2. Hard to turn down seven figure comp


#65 VanCity D-man on 07.21.14 at 7:15 pm

47 + wife 44, net worth 950K, annual household income $170K, +400K half duplex, no mortgage, paid off 11 years ago. 2 teens at home. +2 cars we plan on driving into the ground.
Cash 100K
Non-reg 350K
Wife has DB pension

#66 Happy Renting on 07.21.14 at 7:15 pm

#24 Adelphis on 07.21.14 at 6:05 pm
Frankly, I don’t know how anyone earning 60k or more (without five kids), isn’t dancing down the street, tossing money at fire hydrants, just because they can. (Which seems like fun, admittedly.)

Because the circumstances allowing one to earn at least a semi-decent living can change. Your health, the economy, the employment market, family/caregiver responsibilities can all pull the rug out from under you. When the good times are rolling it’s a mistake to dance and toss money at fire hydrants, believing the cash flow will last forever. Besides, jobs that pay well often require you to fit in with your colleagues: work clothes of a certain quality, lunches or drinks at fancy places, miscellaneous status symbols. Superficial nonsense like that can gobble up your paycheque faster than you’d believe.

#67 young one on 07.21.14 at 7:16 pm

22 years old
Net worth =17k
Currently renting, no debts
8k in tfsa invested in balanced portfolio
5k car
3k rrsp

#68 Anonymous Coward on 07.21.14 at 7:17 pm

Couple: 50 and 49

Net Worth: 1.41 M
Real Estate: 735 K
RRSPs: 436 K
TFSAs: 17 K
Other Cash: 81 K
Stuff: 97 K
Total Debt: 0.00

Shine on You Crazy Diamond

#69 young one on 07.21.14 at 7:17 pm

22 years old
Net worth =17k
Currently renting, no debts
8k in tfsa invested in balanced portfolio
3k rrsp
5k car

#70 bilomnic on 07.21.14 at 7:18 pm

age 54
total net worth $1.8 million
real estate: 50%
financial assets: 50%
Rule of 90: 90 -54 = 46% (close to target)

#71 tommydouglas on 07.21.14 at 7:20 pm

I’ll help bring the average down a bit:

TFSA $28,500
RRSP 14,000
Cash 2,000
Oldsmobile 2,000

No debt

Thanks for blog Garth, I have found it helpful for setting up my direct investing TFSA.

#72 Taber Nac on 07.21.14 at 7:22 pm

#38 T.O. Bubble Boy on 07.21.14 at 6:32 pm wrote:
“if someone has say $5M+ in net worth, why are they working? For example… #4 Taber Nac, may I ask: are you working? If so, why not retire/relax?”

I had my own business, and sold it. However, filling life with “relaxing” is not all that it’s made up to be. To quote John Maynard Keynes:

“To those who sweat for their daily bread leisure is a longed-for sweet – until they get it. …Thus for the first time since his creation man will be faced with his real, his permanent problem – how to use his freedom from pressing economic cares, how to occupy the leisure, which science and compound interest will have won for him, to live wisely and agreeably and well.”

#73 yeg worker on 07.21.14 at 7:24 pm


House: $365,000 (mortgage free)
Investable assets: $400,000
DB pension current value: $205,000 (incl because its similar to fixed income)

Total $970,000

Liabilities: $600 visa

#74 crowdedelevatorfartz on 07.21.14 at 7:32 pm

No debt.
600k invested.
Currently working.

#75 ex expat on 07.21.14 at 7:34 pm

Thanks for asking, actually a big milestone goal met for the wife and me, net worth increased to over 1m$ last quarter. Easier when you have no kids, although dependents over the years… Not boasting, just the result after decades of working my butt off, maxing out investment contributions year-in and year-out, and not doing anything too stupid.


NW = $1,010,000 (all financial)

Real estate = 0%
cost of rent = $1,500/month
tfsa’s maxed
rrsp’s maxed

Small DB pension not included the calcs, they literally shut down the plan to new employees a week after I joined it. But they do a decent DC pension now.

Can’t stand the idea of getting another job or changing careers just to keep busy, so will hang it up at 55 to get the minimum DB pension benefit and then plan to spend some serious time anywhere outside. All the while drawing the NW down all the back to zero, actually may be harder than it seems.

I figure about 1078 packed lunch sandwiches to go.

#76 JSS on 07.21.14 at 7:35 pm

Age 40, married with children.

Net worth around $600K

And I like long walks on the beach

#77 Randy on 07.21.14 at 7:36 pm

I only wish that I knew what my longevity is…then I would set up my own annuity with the aim of dying dead broke.

Derek Sanderson “If I knew that I was gonna live this long, I would have taken better care of myself”.

#78 Mark on 07.21.14 at 7:39 pm

Early 30s, single. Assets = $1.2M, debt = $500k @ ~1.75% floating, none of it in RE.

#79 cashman on 07.21.14 at 7:39 pm

32, i dont work and no rent or mortgage

200k cad cash
100k usd cash
50k euro cash

real estate
non canada res. 100k
non canada commerical 3m
non canada land 150k
collectibles 150k
no debt.
total 3.75-3.85 m

#80 39forever on 07.21.14 at 7:49 pm

Net worth 560k
House equity 35% of net worth

#81 Nemesis on 07.21.14 at 7:52 pm

#GenuineCorinthianLeatherUpholstery. #OnlyRicardoTheAccountantKnowsForSure.


[NoteToGT: I told Ricardo I wanted a MonteCarlo… But he insisted on the Cordoba as the more prudent and fulfilling choice.]

#82 Property Accountant on 07.21.14 at 7:53 pm

Age 36 / 35, household net worth $350K

No debt, no real estate, all financial investments.

RRSP , TFSA maxed out. We rent.

Started in Canada 10 years ago as an immigrant with 0 in assets, my wife same as me, but 3 years ago. Still a bit above median, which is not so bad.

#83 Clio on 07.21.14 at 7:54 pm

33/32 couple, 2 kids, approx 470k net worth, 270 of which in the house.

#84 Arcs55 on 07.21.14 at 7:55 pm

Net Worth?
Let’s see….
34 years old
-$20,000 in debt from school and shrinking.
-$16,000 left to pay on my truck. (Generates Revenue, and worth $23,500)

$1020 in RRSP
$1200 in TFSA (just started saving two months ago).
$0 Real estate (rent)

I am worth -$33000. Thinking of incorporating though so stay tuned.

#85 Erick on 07.21.14 at 7:59 pm

$380,000 @ 46 years. No debt. No real estate.

#86 Serg6898 on 07.21.14 at 8:00 pm

age 27 single
zero consumer debt (not including mortgage)
$92500 total
54% Real Estate
90-27= 63
And currently working on investing more $$
Also enrolled in a decent defined pension plan (which is not counted)

#87 Linda Mulligan on 07.21.14 at 8:01 pm

OMG – enough with the pension envy already. Also, stop applying the same brush to all gov’t employees when it comes to pensions. IF someone is getting $5,500 plus a month, that person was a high level manager who had put in 30+ years. The average grunt employee with 30+ years in might get a monthly gross – not net – of $2,500. Most won’t see that much, because most don’t work 30+ years before they retire, or they were not at the higher end of the pay scale as an employee. That would be likely 80% or more of the work force. Plus enough with the pot shots over whether these people work. Are you telling me you have no roads to drive on, no working infrastructure, no access to hospitals, can’t drink the water because it is unsafe, no 911 or other emergency service etc. etc. & also you don’t have any identification – no health care card, SIN card, marriage, birth or other certificate AND you don’t file taxes every year, nor have you ever needed a license, permit, passport, have never done a business related search to find out if the company you are dealing with is a legal entity & not a fly by night operation, never dealt with the justice or court systems, ever – the list goes on. This cost money to do & at least in Canada you get services for your tax dollars, moan as you might about having to pay them.

#88 NoName on 07.21.14 at 8:03 pm

The researchers concluded that sentiment has a causal effect on stock market characteristics in different geographical regions, which provides evidence that stock market movements are affected by emotions, not just cold calculations.

#89 Saskatoon Ian on 07.21.14 at 8:05 pm

Net worth: 35k
Including 10k in a vehicle
125k in a condo (after selling costs)
17k in savings (emergency and long term)
17k in student loans
100k mortgage
71% in real estate
Close to the GUIDELINE of 90, and getting closer every day.

#90 Timmy on 07.21.14 at 8:18 pm

RRSPs won’t be taxed 30 percent unless you take a huge chunk out. Furthermore, they compound tax free until they are liquidated

#91 Retired Boomer - WI on 07.21.14 at 8:22 pm

63/62 both retired
Net Worth $1.0 Mil US


RE = 15% of total, rest investable assets, cars, junk.

#92 Dee on 07.21.14 at 8:25 pm

Net worth ~40k, no debts, almost all of it invested. (I only hit zero net worth about a year and a half ago, after (American, non-tax-deductible) student loans got paid off, so I don’t feel too far behind at the rate I’m saving/investing.)

#93 Spaccone on 07.21.14 at 8:31 pm

Wow how is there so much money around here.

Twilight of my 30s…$921k

Amounts net of very rough estimate of tax liabilities. All accounts are virtually fully invested in ETFs.

Cash= $24k
RRSP= $109k ($136k gross)
LIRSP= $28k ($35k gross)
TFSA= $36k
Non-reg investments= $724k ($735k gross)
Car+Real estate+Debt= $0.00 (moved into parent’s “basement” in recent past)
NW doesn’t move much due to employment income last several years as it’s in low/mid $20s (by choice and laziness)

XRE – 30.5% (reallocated $90k from emerging mkts & XDV over the past few days…a short term move)
XIU – 40.1%
XEF – 7.1%
XEM – 9.7%
XMD – 6.2%

#94 Habs on 07.21.14 at 8:32 pm

35 years old
Net worth: $1.25 million
Own my home: $900,000
No debts

In Garth I Trust

#95 'I miss my home planet' on 07.21.14 at 8:35 pm


re, lying media.
‘As long as they can get you asking the wrong questions,
they don’t have to worry about the answers’

The wrong question is-
‘who shot down the plane?’
The right question is-
‘Is there any reason to believe that a plane was even shot down?, given that the source of the story is News ‘Corporations’, secret service, military and a chorus of political pignitaries aping the narrative ‘

My Rule of thumb-

assume that everything on TV is 100%, that’s right 100%

#96 -=jwk=- on 07.21.14 at 8:36 pm


We met on a blind date in Shanghai. Combined we’ve live in 6 countries. We’ve flown over 2millions miles (I have elite status for life because I hit 1M miles on ONE airline :) and been to over 40 countries. We picked up 5 degrees along the way, and some professional designations as well. We now have two awesome kids, renting a house in TO while we decide where to go next. Heading to Shanghai at the end of summer so the kids can spend a month with the other grandparents. Our 4 yr old will miss his first month of Kindergarten, and be better educated as a result. This will be his third trip to China. Little brothers first time.

If we die penniless, we’ll have lived lives richer than most can dream of.

#97 Sheane Wallace on 07.21.14 at 8:40 pm

Nobody owns gold/silver/platinum!

And gold is in a bubble and can only go down?

#98 G in Montréal on 07.21.14 at 8:41 pm

31 y.o., single
Net worth 190k: 63% RE (42% rental, 21 % owner-occupied)
120k real estate (owner-occupied triplex), mortgage outstanding is 355k, cashflow is neutral while living there but would be quite positive if I rented out my apartment.
17k RRSP
15k savings account
25k defined-contribution pension plan
5k car
No debt other than the mortgage.

#99 to_be_frank on 07.21.14 at 8:44 pm

Age – 58, Spouse (retired) – 62
House – $300,000
Vacant Land – $100,000
Investments (RRSP,TFSA,OPEN) – $1,150,000
Business – $400,000
Debts – Nil

I started saving for home and retirement at age 20, and pretty much tracked Garth’s rule of 90. Maximized RRSP/TFSA/RESP/RHOSP contribution limits throughout my working life. Didn’t always make the most sound investments, particulary early on, but assiduous saving and compound interest made up for it. Accelerated savings during 2001-2002 and 2008-2010 market routs. That helped as well. Didn’t make that much in real estate overall. I live in a rural area.

#100 Mr Landlord on 07.21.14 at 8:44 pm

48/44year old
House equity 600,000
rental property equity 1,200,000
Rrsps 785,000
Tfsas 0
Resps 80,000
Net worth 2,665,000

#101 Silent Observer on 07.21.14 at 8:45 pm

Age 39

Net worth $5.3 million CAD. Other than the house, it’s all liquid.

$525k registered

Real estate 9.7%

No debt

I work hard, and I still love what I do.

#102 joblo on 07.21.14 at 8:45 pm

John Mellencamp’s Life Advice – Mens Journal interview

What should a man know about money?
Nobody gives a shit how much money you made. Nobody cares how you climbed up the ladder. The only person that cares about that is you. You’re the one that’s making it important. I know Once you’ve got your money, you know, then that’s it. And that’s how I feel. I’ve had people say to me, “What do you need more money for, John?” Well, I don’t. Did you ever see the movie Key Largo? Remember when Bogart was talking to Edward G Robinson and he says, “Johnny Rocco, what is it you want?” And Johnny Rocco goes “I want more.” And then Bogart goes, “Well, will you ever get enough?” And Rocco goes, “Haven’t yet.” That shows the folly of it all. Do I like you? Are you a good guy? Can I count on you? That’s all I give a shit about. What do I care? At the same time, I hope you do.

Read more: http://www.mensjournal.com/magazine/john-mellencamps-life-advice-20140219#ixzz389ZGq8c8
Follow us: @mensjournal on Twitter | MensJournal on Facebook

#103 Big Sexy on 07.21.14 at 8:47 pm

35k Net Worth, 10k of it in RE – just bought in April.
Rest is mostly my TFSA, bank account, and car.
Im 26, so Im good.

#104 kILlaBoY50 on 07.21.14 at 8:47 pm

Total: $1.1 million
House: $500K

#105 dave c on 07.21.14 at 8:47 pm

Age 46
Home – 400k (paid off)
RRSP’s – 200k
LIRA – 200k
TFSA – 68k
Car – 25k
non-RRSP – 550k

Total – 1.443 million NW

#106 mid20millenials on 07.21.14 at 8:47 pm

Couple 23 & 26

Around 60k – 10k car (I usually don’t count this), rest cash and balanced portfolio

Student loan paid off. No debt, no houses, 3% in REITs. Rule of 90s – what’s that?

#107 lifeisgood on 07.21.14 at 8:53 pm

Net worth ~ $988k

(RRSP $94K and $53K…TFSA $54K and $55K…taxable accounts: US stocks $654K)

Ages: 54 and 53

No debt

Real Estate: $0K

car 20K

savings account 3K

RV’S (2) 55K

#108 Nemesis on 07.21.14 at 8:54 pm

#ForSonOfPonzi. #TheBigLeague&OtherLongShots. #Sometimes… #YouDoGetAPlatinumVictoryDay…


#109 TS on 07.21.14 at 8:56 pm

35 / wife is 34:

Cars – $38,000
House – $300,000
2 Defined Benefit Pensions – $200,000
TFSA – $67,000
RRSP – $46,000
Jewellery – $15,000
Other Stuff – $20,000 or so

Mortgage – $140,000
Line of Credit – $3,000

Total = 546,000

We listen to Garth, follow the rule of 90, max out our TFSAs and don’t live beyond our means.

#110 CJ on 07.21.14 at 9:02 pm

Good to see a lot of liars posting today!

My net worth is my business.

#111 El Barto on 07.21.14 at 9:05 pm

… hey wait a minute, things just don’t add up… If you take the bragfest from the blog asking for wages and compare it to this bragfest about networth, the numbers are outta wack. Other than the supposed multi-millionaires who while away their days reading this blog, the high earners numbers from the previous straw poll don’t seem to jive with the lower networths. Where has all that expendable income gone?

#112 EmperorCoder on 07.21.14 at 9:05 pm

37 yo
RRSP 416k
DC pension 39k
RESP 58k
TFSA 72k
Non-reg investments 671k
Cash 15k
No real estate (renting)
No debt
Total Net Worth = 1,271,000

#113 Sebee on 07.21.14 at 9:06 pm

Smoking Man, of course you saw Robocop?

“I’d buy that for a dollar!”

Garth is just gathering some BI on his audience. Considering the free daily entertainment, let them brag. My grandpa used to say, people who show off don’t usually have much.

#114 Teacher's Ass-istant on 07.21.14 at 9:13 pm

Interesting that in the responses, so far at least, they do not square very well with the claims of income in the previous income polling quiz. Could it be people lied? Could it be that they are totaly irresponsible with those reported massive incomes?

I don’t really know. I pay off my two credit cards at the end of every month, don’t own much anyone else would be impressed with and I’m keeping my paper route.

Net worth a buck 3 eighty.

#115 juno on 07.21.14 at 9:13 pm

Interesting replies.

I guess only the 1%ers go to this site.

Everyone has assets. Which I highly doubt. Most Canadians are drowning in debt. And can’t stop spending.

I know 8/10 of my friends are in this situation

#116 Anonymous just this once.. on 07.21.14 at 9:13 pm

36/36, $750k house ($450k equity, $300k mortgage), $670k net worth.

Rule of 90 means I should have 90-36 = 54% in real estate, and I have 450/670 = 67%. Not *too* bad i guess, though not quite meeting the rule of 90..

#117 Renter on 07.21.14 at 9:17 pm


#118 East Coast Girl on 07.21.14 at 9:18 pm

40 something yr old single female.

RRSPs: $95,500 plus another $49,000 locked in.
TFSA: $32,158
House: $80,000 equity after real estate fees (I’m currently selling it and will then rent)
Savings accounts (I know, stop yelling): $12,000

Debt: the only debt I have is a $20,000 car loan.

Wow I’ve never admitted that to anyone. When I write it down like that I am proud of how far I’ve come.

#119 Blobby on 07.21.14 at 9:20 pm

Ran into a lot of debt this year due to people not paying me.

But currently:

Appx $120k
Almost 40 years old (which makes net a bit embarrassing really)

60k of that is rrsp, so take 20k off for taxes on retirement.

#120 BT on 07.21.14 at 9:24 pm

Age 38/31 (Wife)
Net: $2.1m ($450 RRSP, $50 TFSA)
Debt: Nil
RE %: Nil (Living in YVR….so we rent)

#121 Fresh off Campus on 07.21.14 at 9:27 pm


(Outstanding law school tuitions – worth every penny to have had the chance to meet my future wife)

On the plus side, the Oldsmobile’s worth $300 if it catches the light real nice.
$4,000 TFSA
No pension

Looks like we are bringing down the curve here.

#122 ETF FAN on 07.21.14 at 9:28 pm

Married – ages 33/34
Net worth 707k with real estate equity (family home) coming in at 53% of net worth. Just came in under the recommended max of 56%.

#123 Micawber on 07.21.14 at 9:30 pm

45/40 ~930K or 630K

real estate ~140K (investment condo in US, we rent in Vancouver)
460K Financial (TFSAs, RRSPs, RESPs, Investments, Cash)
300K in company stock (not accessible yet could go to zero)

Cars ~30K

No debt.

percent in real estate ~15%

#124 Doug in London on 07.21.14 at 9:32 pm

Well, seeing as everyone else is revealing their net worth, I’ll do the same. The total amount, including RRSPs, TFSAs and all other investments is about 885 grand. The only real estate I own is REITs (yes, I scooped up some more when they were on sale last year). I don’t know the exact amount, but it’s probably less than 10% of my portfolio. Not bad for a guy, 53 years old, who failed a college economics course many years ago.

#125 Gen Y on 07.21.14 at 9:33 pm

25y.o., 25k

#126 Frumious Bandersnatch on 07.21.14 at 9:33 pm

I’m 82, retired for the last 20 years, with $500k left in liquid assets. I live in a $600k townhouse in Metro Vancouver. According to the “rule of 90,” I should only have $88k of my net worth in residential real estate. In order to get my finances in balance, should I sell the townhouse and buy a mobile home?

Or does the “rule of 90” only apply up to age 65 or so?

#127 bdy sktrn on 07.21.14 at 9:36 pm

re (2 places) 1.35m — cost was 450.
‘garthy’ stuff 0.55m

debt – 0

total 1.9m

rule of what?

#128 Son of Ponzi on 07.21.14 at 9:40 pm

#111 El Barto on 07.21.14 at 9:05 pm
… hey wait a minute, things just don’t add up… If you take the bragfest from the blog asking for wages and compare it to this bragfest about networth, the numbers are outta wack. Other than the supposed multi-millionaires who while away their days reading this blog, the high earners numbers from the previous straw poll don’t seem to jive with the lower networths. Where has all that expendable income gone?
Right on!
Garth, can you (or have someone) cross-reference the responses from the salary survey with this one.
Time to flush out the cheaters.

#129 Doug in London on 07.21.14 at 9:40 pm

@juno, post #115:
Good observation you make. Either the people who frequent this blog have learned a lot (I sure have) and are thus getting their finances in order, or the kind of people who care about their finances in the first place read these kinds of blogs. Then again, maybe those who are closer to the bottom 20 percent haven’t bothered to comment. Of course, it could be all of the above.

#130 espressobob on 07.21.14 at 9:41 pm

#97 Sheane Wallace


#131 Son of Ponzi on 07.21.14 at 9:45 pm

re (2 places) 1.35m — cost was 450.
‘garthy’ stuff 0.55m

debt – 0

total 1.9m

rule of what?
Skytrain down again today.
Harbinger of RE crash in Vancouver?
Better don’t count your RE as assets.

#132 Teacher's Ass-istant on 07.21.14 at 9:50 pm

Wow East Coast Girl, I think you’re doing pretty good. I’m not being a smart ass. Can I get a paper route in your town? Then maybe we could go out for dinner?

I still say most of the rest of you are lying.

#133 KommyKim on 07.21.14 at 9:53 pm

RE: #111 El Barto on 07.21.14 at 9:05 pm
… hey wait a minute, things just don’t add up… If you take the bragfest from the blog asking for wages and compare it to this bragfest about networth, the numbers are outta wack.

Not necessarily. I know lots of high earning people (2-3x myself) who have 10% of my net worth. To a certain extent, it’s not how much you earn, but rather how much you don’t spend.

#134 Son of Ponzi on 07.21.14 at 9:54 pm

It’s about 10:p.m eastern.
From now on it’s the booze talking.
Good thing, SM has already posted.
And he was honest.

#135 Suds on 07.21.14 at 9:56 pm

We’re both 31. No debt. Happy Renters paying $2600/month for a million dollar house.

Net worth is $350k. Can’t wait for the high end housing pinata to bust open so we can pick up the candy :)

#136 Smoking Man on 07.21.14 at 9:57 pm

God, I’m having a raging fit of laughter, watching the cartoon characters on CNN trying to demonize Putin.

Are these people from Earth, do they actually belive what they are saying… Highly unlikely… But a buck is buck.

My prediction, Russia convinces, with evidence that Ukraine did it.. European countries turn.. And the story will just vanish…

If not, better get some Iodine….

#137 Glen B on 07.21.14 at 9:58 pm

I am just over the “median person” mark @ 51 yo
No House, No Debt.

#138 Laufer58 on 07.21.14 at 9:59 pm

Let`s see: 45 (me) & 37 (conjointe) years old:

My net worth is $540,000 (not counting Federal pension of about $22K per year that kicks in at age 60)

$240,000 in investments ($40K TFSA, $80 RRSP, the rest managed by TD), and value of the house is $300,000 (paid off the mortgage years ago).

Been debt free for years, so that means that real estate is 55% of my net worth. That`s 10% too high according to Garth`s Rule of 90, but that`s just another incentive to save a bit more.

#139 Keen Reader on 07.21.14 at 10:00 pm

– Just retired, 48/49, no kids.
– $77K annual pension
– NW $952K (fully invested), $86K more shortly (leave cashout + severance, after taxes)
– $151K in RRSPs, $62K in TFSAs
– No debt, $15K in other assets
– Renting (0% RE), enjoying the great summer!

Impressive numbers from many posters, however anyone living within own means should be proud, no matter where they stand in the rat race (or not). Life’s about what you do, not what you have!


#140 Son of Ponzi on 07.21.14 at 10:01 pm

Why don’t you monetize your expected future book royalties at current PV?

#141 CREIT on 07.21.14 at 10:03 pm

RESP 20,000
Pension 120,000
Equity 135,000 (rental Properties)
debt 65,000 (spent the last two years out of work and in school)
TFSA 2500

We got a long way to go!!! oh and I RENT!!!

#142 CD on 07.21.14 at 10:04 pm

49/60 yrs

800K house
550K GIC
100K registered
450K investment real estate
25K cars
25K chq bank account

Total 1.9 million

#143 Jason on 07.21.14 at 10:05 pm

Age 42

Net worth 1,600,000
own home 130,000 no mortgage

So 92% of wealth in investment assets.

#144 T.O. Bubble Boy on 07.21.14 at 10:10 pm


$2M+ and counting (not discounting RRSP or tax liability)
0% in house (renting), 5% in REITs
~$400k in RRSPs
$1.75M+ in cash/investments

#145 Happily Retired on 07.21.14 at 10:13 pm

Net worth
$1.8 M

House $500 K (No Mortgage)
RRSPs $765K
TFSAs $85K
Non Registered $550K
Debt: $100K HELOC re-invested as per Garth’s plan of using your house to invest and write off the interest. Has worked out great.

Wife has DB Pension Plan

58 and 57 years old. Worked hard, saved hard, balanced investing, retired early.

#146 W on 07.21.14 at 10:14 pm

Age: 28/27
Net Worth: $498k
Real Estate: $25k (REITs)
% of Net Worth in Real Estate: 5%

#147 Visitor Number 9 on 07.21.14 at 10:15 pm

Net Worth: $1.6M
%RSP 21.875
%TFSA 2.375
%Unregistered 68.50
% defined contribution co.pension 7.25%

#148 wow this is like golf on 07.21.14 at 10:16 pm

There are people that inflate their golf handicaps, because they want to win tournaments. They don’t care if others think they are sandbaggers; they want to win.

And there are those that understate their handicaps; they don’t care about winning tournaments, but they want others to think they are better at the game than they actually are.

Lots of bragging going on here. I don’t imagine that many of the 1%’ers are logging on and telling all.

A couple of observations/questions;
#87 Linda Mulligan on 07.21.14 at 8:01 pm…..let me guess, you’re on the Sunshine List?
#118 East Coast Girl on 07.21.14 at 9:18 pm….you go girl!!

#149 Chickenlittle on 07.21.14 at 10:17 pm

Wow…I need to start being nicer to some of you…anybody need a secretary?

My net worth: going up. I’m going through a change in my finances. It’s all good.

#150 Tom from Mississauga on 07.21.14 at 10:19 pm

#87 Linda Mulligan on 07.21.14 at 8:01 pm
OMG – enough with the pension envy already.

Just a little more ranting and I’m done, swear.

#151 Tom from Mississauga on 07.21.14 at 10:23 pm

60K – 10K margin = 50K non-reg

180K at 39 yrs.

#152 noise on 07.21.14 at 10:27 pm

Net worth 1.1 m
45% real estate
Age 37 and 40

#153 JG on 07.21.14 at 10:27 pm

56…1.85 million.

mixture of various securities and commercial RE

#154 mishuko on 07.21.14 at 10:27 pm

9k. Hmm…. I think I need to find a small corner to cry in… no wonder there’s mold growing in the corners I seek refuge in.

You humble me every time you ask the questions that no one wants to answer.

my number includes a car + car loan (the car will depreciate as fast as my loan…sigh), no real estate. I did not include me ‘contributing member’ pension, or share ownership plan (currently locked).

the rational was a car is mobile while real estate is not. if I need to travel to a new job the car is there… kinda…

#155 Son of Ponzi on 07.21.14 at 10:27 pm

Any home”ower” in Vancouver and Richmond who enters the current market value into the assets column should give their heads a good shake.
Taking into account a 30 to 40% haircut would be prudent.

#156 Retired Boomer - WI on 07.21.14 at 10:28 pm

What does “Stated Income” matter?

Does the “Income” really matter?

What you did with that income matters more. Some can piss away a six figure income easily. Others can invest half of it – not quite as easily.

After all somebody has to be carrying that high debt load, though it is doubtful they lurk on Garth’s blog.

#157 omg on 07.21.14 at 10:30 pm

#87 Linda Mulligan
OMG – enough with the pension envy already.
Actually Linda, I have a defined benefits government pension from working for 20 years as a policy advisor in provincial government.

People at all levels of government are over compensated not only from a salary perspective but also from a benefits perspective that adds 30% to the payroll. Do we really need to pay (with benefits) firemen $120K annually, or liquor store clerks $65K, or teachers $110K or correspondence clerks $70K?

And yes, you provide a long list of services, many of which should be provided by government but many that could be better provided by the private sector.

Do you services will disappear if government salary/benefits were reduce to private sector levels. Sure let those disgruntled public servants go out and find better paying private sector jobs.

I do not know where you got your numbers from, but a “high level” manager (Exec Director, ADM or DM) are going to be walking away with $70K to $120K annually after 25 years service. The grunt level – somebody making $50K to $60K annually – will enjoy $3500/m plus whatever benefits retiree get.

Its simply too rich. Basically something will have to give and its either getting less in the way of all the wonderful service you list or higher taxes.

#158 Freedom First on 07.21.14 at 10:33 pm

My net worth? A lot of people would love to know that. Nobody does. I will share that [email protected] who sells mutual funds at the bank where I do some Direct Investing, among other things, tells me there is very few people like me and my financial situation is perfect. I do 0 business with her, and she only sees half of my investments. I just like to chat with her in her office because she is a friendly little cutie who likes to pull me into her office because she says every time she talks with me she learns something. Sounds impressive, but it’s not, as she was “Bank trained” and used to believe she knew something. I will say she is fully aware that the average Canadian, even next to her, is a financial moron. Garth has showed us the real financial figures for the average Canadian by demographics, and it is many Boomers who are or will be in serious trouble.

I feel blessed, and am content. If you are there at whatever age you are, feel fortunate, as you are.

#159 raider on 07.21.14 at 10:38 pm


– 0 in personal real-estate (happy renters)
– 0 debt
– 0 company pension
– bulk in actively managed portfolio of financial assets (18.45% ytd yield as Canadian dividends and capital gains from US options)
– of it only 2900$ in the orange guys shorts (RRSP)

#160 MontrealInvestor on 07.21.14 at 10:39 pm

Age 36.
Net Worth: $409,730
Real Estate: 77% of total net worth (one 6-plex, two 4-plex, one 5-plex, one cottage).

#161 Anonymous on 07.21.14 at 10:41 pm

Two Semidetached homes 460K
Invested in stock market 110K
Cash 10K
2 cars that still run good 7k
total debts 0

Net 587 K

ages 48 and 30

#162 Cl Qc on 07.21.14 at 10:46 pm

Net worth: 250 K$ + DB
Renters 39/42y (student)
RE 130 (Mex)
50 Others
+ 2 years of parental leave

#163 angela on 07.21.14 at 10:47 pm

$210,000; 35 and 40; 0% in RE, renters.

#164 Kokuzi on 07.21.14 at 10:47 pm

Age: 59
Net assets: $540,000 as detailed below…
Invested funds: $300,000
(managed balanced portfolio, no GICs or mutual funds)
Condo (paid for): $180,000 (33% of assets)
Cash in banks: $60,000 (will shift most to portfolio…)
Stuff…: $5,000
Semi-stray pet cat: priceless!
Debt: 0

#165 lucyj on 07.21.14 at 10:47 pm

68/66 nw 2.1million – re 1.2m – investments 800k- cash 100k – no debt. Both retired.

#166 Guy on 07.21.14 at 10:49 pm

$1.3m, which includes $500k RE but not our 2 DB pensions. We’re over your suggested ratio and will go further over in the years to come (unless the bottom really falls out of the RE market or my investing skills improve significantly).

#167 dirk d in cowtown on 07.21.14 at 10:50 pm


net worth:$446,000

liquid assets: $161,000 – 36%

real estate: $285,000 – 64%

some work to do

#168 the R on 07.21.14 at 10:51 pm

again… really ?

is their nothing left behind veil of secrecy no more ?
The IT guy ( blog ) must just be salivating

hey Miss Disappointed – I’m also a single parent but I’m more sad then angry- tell me you live in the lower mainland — GVRD .)

condo = $ 30 000
tfsa = $ 30 000
non- reg. =$ 20 000
RRSP = $ 25 000

Not including the beauty I drive. I always try to keep it around $ 100 000 – It gets raided monthly for the funner things in life… isn’t that the point ?

Its annoying hearing/reading about people wealthy than I– who swear up and down that buying a used car is soooo much better then a brand new 1.

Psst. its cheaper– that’s it !!

Wealthy then I equals U got enough money !!

only reason would be if your faking poverty — but only an backward idiot would do that…

I guess they get their ” jollys ” from bigger digits on paper/screen then what they drive.


#169 John on 07.21.14 at 10:52 pm

30, single
$600k nw
0% RE
10% rrsp
5% tfsa
15% cash
70% non-reg (hello cap gains tax!)

Didn’t include $25k PV of DB pension

#170 Keith in Calgary on 07.21.14 at 10:52 pm

$840K or so……….mostly depends on daily forex in a currency basket, and of course gold/silver.

18% in RE…………not held in North America.

#171 Cici on 07.21.14 at 10:53 pm

#24 Adelphis

You’re doing well despite the low earnings, so don’t get discourages. Keep saving diligently, you are still very young and have lots of time on your side. Your earnings will increase over time, as long as you commit to saving and spending less than you earn you will be fine. But, do work on increasing the income as much as you possibly can, it will make things a lot easier for you and faster.

Other advice, don’t worry about what other people do or do not have, keep your focus on you. In terms of salary, $60,000 per year doesn’t go very far in many cities and provinces due to high taxes and the high cost of living. Also, many people with that salary had to go through years of studies and student loan debt to get there, and then spend years paying it pack.

Good luck and keep your head up!

#172 Cici on 07.21.14 at 10:56 pm

#126 Frumious Bandersnatch

Hilarious, but you almost killed me after I almost inhaled a cherry pit while laughing at your post.

#173 young & foolish on 07.21.14 at 10:57 pm

So, commute your civil servant pensions …. and hire private help.
Many people will end up in trouble with this one.

#174 rick on 07.21.14 at 10:58 pm

Per Garth (exclude employer pension), median. Per Dummies (include expected monthly pension income * 240 (assume 20 years in retirement)), millionnaire…?

#175 cowtown cowboy on 07.21.14 at 11:02 pm

I thought we had already covered this topic but here goes:

From my last calcs:
Both are 45, 2 young kids 7 &4

Net worth: ~$835,000

House value, approx. $675000 w/ 310000 mortgage

RRSP’s, RESP’s & Locked in Accts: ~ $425,000
TFSA’s: ~ $46000
Vehicles & Non-registered acct: ~$100,000
LOC: $100,000

#176 Ontario's Left Coast on 07.21.14 at 11:05 pm

$2 Million
$500K RE
Non-Registered Portfolio: 850K
RRSPs / TFSAs / RESPs: Maxed
Two DBs (private sector). PVs not included
— How? Life-long saver, astute investor, lives well within means, doesn’t need crap to make me happy. GLTA

#177 Snowboid on 07.21.14 at 11:11 pm

Net worth: Not quite the top 20% but close.

Real estate comprises about 20% of that, does not include pension or investment income.

#59 omg on 07.21.14 at 7:04 pm…

The average retiree from the federal public service (PSAC) collects $ 25,000 in pension – a tad bit lower than $ 60,000 a year.

To make that pension after 20 years, the working salary would need to be $ 150,000 a year – true some senior public servant managers make this, but it’s not even close to the average.

#178 Cici on 07.21.14 at 11:15 pm

Age: 40
Net Worth: Under the flawed median, but growing and far exceeding debt
Real Estate %: 0
Debt: $4,200 left on four-year-old car (not a Kia!)

No aspirations to own real estate or a $170,000 sailboat. I’m working on a laser dinghy though: http://na.laserperformance.com/laser/home


#179 Extron on 07.21.14 at 11:17 pm

You asked;
58 & 54 years old
RSP’ s 223,000
TFSA’s 82,000
kids TFSA’s 49,000
Non Regs 58,000
Real estate 536,000
Cars 11,000
Pension contributions to date 69,000 OMERS Wife is a TA
Credit card debt 3,000 – paid in full monthly
Grand total – $1,025,000.00
With the kids TFSA’s I’ve lent them the money and they can pay us back with the dividends later.(snicker)
We’ve never had any debt.

Thank you Mr Turner for all that you have taught us.

#180 Assquatch on 07.21.14 at 11:19 pm

The following link suggests the audio conversation that Ukraine intercepted and quickly released was created before mh17 crashed.

Smoking Man, do you have anything else in the Ukraine false flag conspiracy theory?

#181 Boomer60 on 07.21.14 at 11:21 pm


Net Worth $2.3M

Sold house last year for $900K. Now renting.

$1M RRSPs – Max every year

$80K TFSAs – Max every year

#182 x-moose on 07.21.14 at 11:22 pm

46 yo. $560k incl 14′ M5. Zero RE- rent.

#183 Johnny 5 on 07.21.14 at 11:24 pm

28, Single.

32k TFSA
10k cash
95k TV from a Fed Govt DB

No debt, no mortgage (condo renter).

#184 Supreme on 07.21.14 at 11:25 pm

27 years old
No debts
No car
Zero real estate footprint (aside from REITs)
Net worth about $215K

#185 Cha Ching on 07.21.14 at 11:28 pm

41. $2.8m. Retired. Haters gonna hate.

#186 DMD on 07.21.14 at 11:28 pm

Male, 53, in BC

Professional corporation:
1,213,000 stocks
(193,000 investment loan, interest only)
457,000 condo (no mortgage)
250,000 cash

691,000 principal residence (no mortgage)
511,000 vacant residential lot
(127,000 mortgage for residential lot)
546,000 RRSP
52,000 TSFA
162,000 non-registered stock investment
(82,000 non-registered investment loan, interest only)
10,100 cash
10,000 vehicles ( 2002 pick up, 1969 un-restored, 1955 un-restored)

Net worth pre-tax excluding vehicles: 3,490,100

#187 Cha Ching on 07.21.14 at 11:29 pm

41. $2.8m. $330k is primary residence. Retired. Haters gonna hate.

#188 Wiggleroom on 07.21.14 at 11:33 pm

Home – 1 million (mortgage free)
Financial assets – 350k

NW – 1.35 million

Thus 75% in real estate… Failed the rule of 90 but we are uncomfortable w debt so paid off the house.

Age 41, 52

#189 Jerry on 07.21.14 at 11:37 pm

Net 2.8 million of which 700k in residential property which I don’t occupy. Rent-til-you-die….

#190 Vancouver renter on 07.21.14 at 11:44 pm

-37 years old.
-$456,800 net worth ($121,800 of which is in an RRSP)
-RRSP is a great deal as my employer contributes 6% of my gross income for every 3% I do.

#191 exit stage left in Toronto on 07.21.14 at 11:53 pm

50yr’s old , 800k , no debt, no house…. sold it in 2012 after 10years of ownership. I would love to own a house again but not right now. It will be interesting to watch this play out for sure.

#192 Tony on 07.21.14 at 11:54 pm

Re: #126 Frumious Bandersnatch on 07.21.14 at 9:33 pm

I live in a 600K townhouse that will be worth around 150 to 200K in the near future… you might outlive your money sooner than you think.

#193 LazyJason on 07.21.14 at 11:57 pm

43/40, retired now
$1.9 M, bulk from tax free annuity, most of that monthly pmts until age 61. Rest is non-reg., TFSA’s $36k each (not bad since we only started last year), RRSP’s and my RDSP.

No RE (sold in TO in 2011) and after 2 yrs in Van, we’re headed to Europe for a bit, and then will chase the sun until we get bored.

#194 DH on 07.21.14 at 11:58 pm

Sold our house 2 years ago and retired to Victoria. Renting an apartment on the ocean…priceless! Love not owning real estate for the first time since University days.

Net Worth – $575,000; in TFSAs, RRSPs and investment account which I manage myself.

Have a small Defined Benefit Pension of $2000. month and another $1,000. Canada Pension and Old Age Security. Subsidize about $2,000 a month from investment income.

We live comfortably and travel whenever we want.

I’ve been reading this blog since 2008 and wouldn’t be in this position if I hadn’t. Thanks to Garth and so many of the contributors.

#195 Vstrom rider on 07.21.14 at 11:58 pm

About $73k. I’m 31, single, never married, no kids. Renting while working in Toronto. Socking away about $2000/month. Goal is to retire early and move somewhere north like Timmins or Thunder Bay.

#196 anonymous on 07.22.14 at 12:03 am

53/47; 1.2M, 900K; no real estate.

#197 bill on 07.22.14 at 12:03 am

Hi Garth – a question …
how do I value electronic equipment?
my first DA-88 was 4500 $can used but you can pick them up for say,200 bucks now.

#198 Dan7 on 07.22.14 at 12:05 am

Garth so if someone in Markham/Unionville sells their house for $1 million and rents and has $400k in stocks they are part of the richest 20% that’s hard to believe. $1.4 mill is not what it used to be.

The bar is set way too low

#199 Pablo on 07.22.14 at 12:11 am

Age 38
Net worth $1.32 million
$800k house.
$600k mortgage and margin.
$1.1 million in investments which have earned avg. Over 10% per year over the past 10 years.

#200 Tony on 07.22.14 at 12:26 am

Swiss bank accounts from the days of yore, physical gold and silver bullion and four houses outside of Canada. In Canada two houses, four cottages and cash on hand. Various side bets on sports.

#201 Tony on 07.22.14 at 12:29 am

Re: #126 Frumious Bandersnatch on 07.21.14 at 9:33 pm

Sell the townhouse pronto it will only fall sharply in value in the near and distant future.

#202 Heddok on 07.22.14 at 12:30 am

59 + 59 both retired

#203 Heddok on 07.22.14 at 12:33 am

59 + 59 both retired
Net Worth 3.1 M
House 700K
Boat 300K
Investments 2.1M
No debt

#204 Rainmaker on 07.22.14 at 12:34 am

Age 55
Net Worth $2.2 million, even after making some bone-headed investments along the way.

Worked and saved hard – lived a modest lifestyle. Drive a 13 year old car and rent for 1,600/mth.
Think it’s time to pack in the career and have more fun….

PV of DB Pension and RRSP represent ~$1 million
Rest in investments or getting a pathetic 1.3% in ING direct accounts

Real estate & Debts = zero
Feel a sense of freedom….

Sold Toronto home last year. This pathetic blog has in part convinced OR brainwashed me not to buy at this time. Although I put in some offers, out bid big time – you can have it.

Garth, amazing what you can get people to do by just asking. Next you will be asking us to…..

#205 Canaan on 07.22.14 at 12:42 am

I would never include vehicles, art or jewelry in net worth calculations unless they were valuable, appreciating and saleable assets, which most are not. Other assets which fall into this category are sports vehicles, trailers, boats, motor homes, etc. Always discount these in your net worth calculation.

#206 Fed-up on 07.22.14 at 12:42 am

Just ate a deluxe pizza…so current net worth $22.50 but that’s pre-poop. Post-poop,ahhhhh not so much.

#207 me on 07.22.14 at 12:43 am

Age 40, Spouse 50+
Mortgage= 150,000
Value of house=715,000
+2 Teacher Pension Plans
RRSP= 35000
Misc value= 40000
Misc debt= 10000

Rule of 90= We are not there and probably never will be.

#208 Vermithrax on 07.22.14 at 12:47 am

Ersh… Now I feel poor. I’ve got some serious catching up to do.

43, single, renter. $178,000.

#209 bcc7 on 07.22.14 at 12:57 am

first time reading greaterfool.ca: -8k (credit card balance) renting

Now: 180k, still renting, on top of 200k db from previous job

Becoming 40 this year

Thank you Mr. Turner.

#210 saskatoon on 07.22.14 at 1:02 am

wait…isn’t the teachers pp awesome!?!?

well, at least in ontario.


why would they commute at retirement?

if they would open it up…would it be a good investment?

#211 clever name here on 07.22.14 at 1:07 am

2 professionals in mid 30s, 2 little kids
NW = 250k should be higher but yrs of schooling + tuition debt + time off for kids factored in
0% in real estate (renting)

#212 FS Time on 07.22.14 at 1:14 am

Age: 41
Marital Status: Divorced
Total Net Worth: $735K, broken down as follows:
RRSP: $230K
TFSA: $ 35K
Non Registered: $330K
Home Equity: $140K
Besides mortgage, the only other debt is a car loan of about $20K
Looking at other people’s net worth, I would have expected the numbers to be a lot higher based on the very high incomes I saw posted a few weeks ago. I don’t make the huge income that some other posters have (just over $100K/yr) but my net worth seems pretty good considering my income level. I guess that I’m just a good saver.

#213 Arnie on 07.22.14 at 1:18 am

We’re sitting at 1.43 million.

We had a house in White Rock but sold. We’re now in the market in a diversified portfolio while renting at $3000 month.

We may jump into the market down the road but for now we are very content with our decision.


#214 I'm Still Around on 07.22.14 at 1:26 am

-31 (both)
-$170k all held in registered accounts
-No real estate (renting in YVR)
-No debt

#215 Jack Fat on 07.22.14 at 1:28 am

“But for some guy working for 20 years for the feds who has a pension benefit of say $5000 a month coming when he retires, is it possible for the government to cut this down to say $4000/m.”

Hey…great idea…..but even better…claw back the entire taxpayer subsidized civil service pension……and let the civil servant collect the same CPP/OAS pension that every other Canadian ‘deserves’. Put the billions saved into hospitals, roads and schools instead of cruise ships tips and booze.

#216 muffintop on 07.22.14 at 1:41 am

age 35

60k fully invested tfsa, rrsp etc

An old BMW, a Bobby Orr rookie card and a pretty good card collection, a few silver bars and a fetish for watches
a few bucks in pension – contributed north of 12k
student debts paid-no debt
Total – 80k+

Done my fair amount of travel too and I think #96 -=jwk=- has it right, although it wouldn’t hurt to have some of the cash in this room

#217 Diharv on 07.22.14 at 1:42 am

49 yrs old
$2.180M investable assets
$375000 RE , less than 15 percent of total nw

No mortgage or debt of any kind

#218 Harry Wilson on 07.22.14 at 1:45 am

“…the bottom 20% clocked in at just $1,100.” Suddenly, I feel much better about myself.

58 years old, retired / too gimpy to work.

$84.152.78 in financial assets as of July 1st.

0 debt.
0 real estate.
0 bitcoins.
1 wooden nickel.

Most of my money is in very safe products; I won’t say the exact name, but they’re the financial equivalent of owning fourteen cats. If I had an income, I’d be more of a cowboy. As it is, the TFSA is stuffed, and I take enough out of the RRSP every year to stay just under the taxperson’s radar.

The money that I have, divided by the 76 months until OAS kicks in, gives me $1,176.27 per month to live on, and so far this year, I’m averaging $1,176.57 per month. I’m counting on my small CPP, which will start in 16 months, to offset inflation.

If I don’t make it, y’all can laugh at me for being a loser. If I do make it, I can be the one to laugh, having ‘retired’ at 54 (when my company told my entire department to GTFO).

Boring I know, but hey, you asked, Mr. Turner.

P.S. If my landlady is reading this, I was just bragging; I’m actually much poorer than this. If the cutie at the bakery is reading this, I was just being modest; it’s actually much more.

P.P.S. “Below $1,100 and we’ll assume you wandered into this blog looking for a bathroom.” Nope; just googled ‘horny virgins’, and here I am.

#219 pipervet on 07.22.14 at 1:50 am


RRSP – 540 K
TFSA – 81 K
OPEN – 300 K
Corporation – 875 K
Corp. Real Estate – 200K
Personal Real Estate – 500K

Total – 2.5 M Real Estate 28%

#220 retired on 07.22.14 at 1:55 am

Well, we’re retired oldies.
Live in Van condo with a view –
owned outright value $300 k,
have rental real estate: 2 condos total value $700 k , have a summer res. value $450 K ;
total investments: $1.2 M;
cash $.5 m
also some inherited raw land $.5 m

AND 1 DB pension
Total: $3.650 Mil!

Plan: to pay for grand children’s post secondary ed

#221 Bucky on 07.22.14 at 2:04 am

48/51, net worth 750k , 28% real estate

#222 Popeye The Sailor Man on 07.22.14 at 2:18 am

The wife and I:
House 460K+ (Mortgage 95K+HELOC of 25K) = $340K
RRSP 80K+25K =105K
Recent windfall 225K invested
Cash Accounts 6K
Cash ready to invest 35K

DPP 24 Years; cash before deductions (now) 520K/ net 400K (RSP 250K/150K Non-RSP) -18K for buyback of time. =380K

Truck 13K
26′ Trailer 13K
other 5K

Total 1.17 Million and we still feel poor?

#223 Welcome to the layer cake, son on 07.22.14 at 2:25 am

45, single
Net worth: $5M
No real estate, all liquid

#224 Jonathan in BC on 07.22.14 at 2:33 am

Net worth: $254k, $190K in real estate (no debts)
Age: 52

#225 Swiss Renter on 07.22.14 at 2:33 am

39 y.o.
Net Worth – 1.1M (Net of tax on registered assets)
Registered $400K (Net of tax)
Non-Registered 625K
Other 75K

Real Estate – None

#226 Munch on 07.22.14 at 2:36 am

Question: How do I value my sparkling personality? Add that to my $200k and you have my net worth. Thanks for asking

#227 crazed and a little confused on 07.22.14 at 2:40 am

I think I did this already from a previous post

early 40s
80 k in cash GIC
90 k in stocks
22k in tfsa
77 k in mutual funds RRSP

$270 approx
not including uinversity pension.
there will be a small correction …bye bye stimulus

#228 JD on 07.22.14 at 2:47 am

53% real estate
37 years old.

#229 SHELTER THE MONEY NOT THE PEOPLE on 07.22.14 at 2:48 am

I’m gonna be a blood donor when I retire.
It’ll be a good living if I sell it in the USA.

#230 outrigger on 07.22.14 at 2:49 am

39 years old

assets: $940,000 financial, $260,000 rental apartment

liabilities: $200,000 mortgage, no debt

networth: $1Million Dollars!!

annual income $120K, but not saving much lately since we have our son. With stay home wife and a 2 year old, I don’t feel very rich at all….

#231 D on 07.22.14 at 2:50 am

Around 1.3 million…700 in re (although I do live in van). Also have police pension.

#232 screwed on 07.22.14 at 3:01 am

Maybe the bloggers here are right around “average” or above “average” NW in Canada or maybe there’s simply too much cash in the system. Those NW numbers of most here sound awfully juicy.

I dunno but when was the “average” NW ever in the multiple hundreds of thousands?

Money is worthless, kiddos. That 100s of thousands of NW won’t buy much in a few years. There’s too much debt and too much liquidity in the system, not enough real collateral to back it all.

How much gold do you all own? I mean the real deal physical stuff? Holding so much paper and cash should make you all very nervous….

If you don’t hold it, you don’t own it. Possession is nine 10th of the law. Money is becoming worth less and less every day but hey, your NW is above “average”.

Gimme a break.

#233 Edward on 07.22.14 at 3:13 am

50k pension
49k debt
1000 net worth..

Just looking for the bathroom..

#234 The Real Truth on 07.22.14 at 3:13 am

39 Male

$1.7 Million USD

No RE anymore…renting

Made $1.5 Million in RE, Saved $200k working for 20 years….go figure …lol

#235 The Real Truth on 07.22.14 at 3:17 am

Based on the net worth here, houses do not seem overvalued at all.. Maybe I shouldn’t have sold….

#236 Gotama on 07.22.14 at 3:34 am

32 y.o.
285k NW, 75% equities, 25 % bonds/prefs
Rent, No RE exposure, investment debt only (30k)

Now I’m shacked up with GF who has -30K NW (student loans), good news is she’s paying off 2K a month, and is interested in making sweet TFSA love. We average each other out well

#237 Finally on 07.22.14 at 3:39 am

43 years old
NW: $600K
No real estate, rent in YVR.

#238 Axis on 07.22.14 at 3:39 am

I make more than I spend,
I have more than I need.
The rest is about finding unrepeatable experiences.

#239 jimturner on 07.22.14 at 3:51 am

68 and 65 live in Vancouver, house paid for, car paid for, no debts, none…… but I do have the basic costs to be here ie property taxes, insurance, utilities, repairs about $1,500 per month before living expenses, ie food, clothing, travel, entertainment, wine, women or song.
Total cash on hand $725,000. Retirement incomes $1,200 per month. Investment income $1,700 per month and going down monthly.
Vancouver house Value Quick sale $1,300,000.
Yet I don’t feel rich. I do feel scared. I have come to learn there is nothing I can trust including Samuelson’s (sp) economic theories, because I/we have allowed too many “bully boys” to take control.

#240 High Income vs Low NW on 07.22.14 at 4:36 am

31+32 w/ 1 kid so far, 225k NW (0% RE) and no debt. That’s up from roughly 10k NW four years ago despite being single income for the two years since the baby.

#241 TomOfMilton on 07.22.14 at 4:44 am

No debt or realestate
Both 43yo

#242 Teacher's Ass-istant on 07.22.14 at 4:46 am

#129 Doug in London on 07.21.14 at 9:40 pm
Or some great fairy tales like the poll on income.

I’ve known a couple of really wealthy people in my lifetime, you would have never known they were by things they said, how they dressed or what they drove. I have known a few that did quite well but weren’t wealthy and they couldn’t do enough to show you just how well off they were from car to clothes and house.

#243 Spiltbongwater on 07.22.14 at 5:21 am

38, worth about $350? No wife, no kids.

#244 Teacher's Ass-istant on 07.22.14 at 5:21 am

I was admiring all you rich folks here and well I need a dollar.

#245 Millenial on 07.22.14 at 6:04 am

Well, I’ve got $12 riding on tomorrow’s Lotto 6/49 draw. The jackpot is $5million.

#246 Millenial on 07.22.14 at 6:15 am

By the way, Garth, did you hear about the drunk driver who crashed his PORSCHE into the side of a house near QEW/Brown’s line Monday morning?


He’s an off-duty Toronto fireman.

That’s right kids, don’t study engineering, don’t be an entrepreneur and invest capital, don’t become a lawyer or a doctor, all you need is a plum public sector job to get you that Porsche.

#247 Pete on 07.22.14 at 6:57 am

Both 38
About 200,000
No real estate, small debt
Had a few rough business years

Btw, I would imagine that the Net Worth estimates are inflated due to the crazy house prices. Could the net worth median collapse by about $100,000 in the event of a real estate correction?

#248 T.O. Bubble Boy on 07.22.14 at 7:18 am

@ #185 Cha Ching on 07.21.14 at 11:28 pm
41. $2.8m. Retired. Haters gonna hate.

No hating – great work!

Question: was $2.8M a specific goal/calculation?
Or, retirement was based on selling a business etc. that happened to net you that amount?

#249 T.O. Bubble Boy on 07.22.14 at 7:20 am

@ #233 The Real Truth on 07.22.14 at 3:13 am
39 Male

$1.7 Million USD

No RE anymore…renting

Made $1.5 Million in RE, Saved $200k working for 20 years….go figure …lol

I think this is quite typical for many “millionaire” Canadians… majority of wealth gained from last 10-15 years of RE vs. from income/investments.

#250 MH on 07.22.14 at 7:35 am

27 year old female in Toronto
100,000 net worth
5% in RE, from REITS

#251 40 guy on 07.22.14 at 7:39 am

40 years old
House: 525,000 (1,025,000 – 500,000 mortgage)
Financial assets: 535,000
Other assets: 100,000 (ex: RESP’S / cars / precious metals)
Total: 1,180,000

Employed at a large corporation with a very good savings plan and an aggressive saver. Double income family.

#252 Corky Smartypants on 07.22.14 at 7:45 am


$850k principle res, no mortgage
$450k US rental, $235 mortgage fully tax deductible against $70k+ income
$300k Corporation
$700k Corp Real estate , $450 mortgage fully deductible as corp expense
$900k investment portfolio
$60k chequing accounts CDN/US

Living well beneath our means…

#253 Well-T on 07.22.14 at 7:47 am

Net worth is what you get if you sell everything and walk away. Hence you need to count the value of pensions and RE.

Ages 36 + 36
Paid off house: 410,000
TFSAs: 92,000
RRSPs: 235,000
Non-reg: 365,000 producing 15,000 in dividends per year (-50,000 investment loan at 3%)
Cash: 60,000
Present value of 2 DB pensions: 240,000
RESPs: 60,000
Total: About 1.45 million

#254 NYCer on 07.22.14 at 7:50 am

It will be interesting to take the “income” stats we had a few weeks ago and compare it to the “net worth” stats we have now.

$300k – single 32 yrs old
No Debt
DB Pension only includes my contribution, not PV value or anything else.
RRSP is pre-tax but the amount in there isn’t very big considering my DB Pension eats up my contribution room.

#255 Montrealer on 07.22.14 at 7:50 am

Net Worth: ~$130k
Real Estate %: 0 (¡Renters!)
1) Includes PV of DC Pension Plan
2) Before tax value of RRSPs & Non-Registered Assets

#256 TO Renter on 07.22.14 at 7:56 am

Both 40s
$2.25M. Just 8% in RE (vacay property).
Debt free. Renting. Owned 2001-2012. Inherited and sold again in 2014 to HAM. Buy low sell high.

#257 Just average on 07.22.14 at 8:14 am

Well, it’s obvious that most of the readers are fiscally wise on this board… perhaps Garth is preaching to the choir? I admit getting jealous at some of the younger people (early 40’s here) with way way above average values, but at least I’m not in line to eat cat food :)

$558,000, of which 34% is investments, 66% real estate.

#258 Louis on 07.22.14 at 8:23 am

43 yo Net Worth 830k$ (using city assesment for real estate value)

Primary residance 480k$
Rental real estate 160k$ (slightly positive cash flow, return on equity about 7%)
Bonds/GIC 245k$ (10 year bond ladder yielding 5.2%)
Equity 45K$

Not counting current value of around 130k$ in the company pension fund, my wife money (around 30k$) or my kids RESP (30k$)

I’m in the process of moving some bonds over to equity + all new saving goes into equity.

#259 TurnerNation on 07.22.14 at 8:29 am

Message from Sheane/Shawn/shaun:

Please express all net worth figures in terms of Bitcoin, not worthless fiat.

Next poll idea: the size of your monthly nut.

Sardines or Scotch?

#260 C'mon Garth on 07.22.14 at 8:41 am

How many of these clowns do you think actually know their worth? Just a quick read through these comments makes it immediately obvious that only a few are using accounting software or spreadsheets. The rest are doing “back of the napkin” estimations.

What a useless post full of aggrandized BS.

FWIW, 32, annual income between $250k and $400k depending on bonus. NW = $262,891.21 as of this morning. NW 1 year ago = $136,736.90. NW 2 years ago = $69,624.97. Nothing in real estate. All liquid(ish).

Prior to this year, was always making high 90s to low 100s with no bonus. 4 years ago NW was negative 6 figs with student loans from grad school at an Ivy.

What was that about aggrandized BS? — Garth

#261 George from Montreal on 07.22.14 at 8:50 am

Net worth: $960k
House: $300k (no mortgage)
Liquid assets: $660k
Excludes company DB plan

Ages, 40 and 39

#262 rosie "moving forward" in the knowledge that, "this won't end well" on 07.22.14 at 8:56 am

I sense much stress.


#263 Tim on 07.22.14 at 8:57 am

$700,000 net worth, age 36, of which $400,000 is paid off house.

#264 Susan from the London area on 07.22.14 at 9:28 am

Sorry for lack of definite figures, my books just left for the accountant.
Aprox $700,000 in a balanced portfolio paying dividends.
Holding a $400,000 mortgage ($21,000 of which is paid off)
Own 2 houses each worth approximately $300,000 for which I rent out.
One has a $216,000 mortgage on it.
I rent the home I’m,in still a long story.
Net worth aprox $1,567,000. Give or take.
And I do thank you Mr. Turner you have been a wonderful resource.

#265 ShawnG in TO on 07.22.14 at 9:29 am

– 38 yo
– I have excel too. As of Friday: 1,008,213.35 + accumulated interest/dividend
— that includes RRSP/LIRA/TSFA/non-reg investments
– 0 RE
– 0 debt
– DB corp pension. if I keep working at my current pathetic wage for the next 30 years, I’ll get 30k a year. Whoop-de-doo… not included
– chequing account, cars, coin collection, pots and pans, etc etc not counted

– live below means
– invest wisely (balanced + diversified)

#266 anon_nl on 07.22.14 at 9:32 am

40ish, wife has no income

$535,000 net worth
Includes DC pension, RRSP and RESP.
65% is house

Just Average #257 – don’t be too hard on yourself. :)

I think we’re doing OK. I figure we have to be – I make good money, we live more frugal than pretty much anyone we know the same age, so in the long run ‘relative wealth wise’ we should be in decent shape.

#267 Victor V on 07.22.14 at 9:34 am


ABD AL-RAHMAN III was an emir and caliph of Córdoba in 10th-century Spain. He was an absolute ruler who lived in complete luxury. Here’s how he assessed his life:

“I have now reigned above 50 years in victory or peace; beloved by my subjects, dreaded by my enemies, and respected by my allies. Riches and honors, power and pleasure, have waited on my call, nor does any earthly blessing appear to have been wanting to my felicity.”

Fame, riches and pleasure beyond imagination. Sound great? He went on to write:

“I have diligently numbered the days of pure and genuine happiness which have fallen to my lot: They amount to 14.”

#268 Bottoms_Up on 07.22.14 at 9:37 am

I will take Garth out of the penalty box and resume commenting.

80k net worth, of which 75% (60k) is house equity (and still high ratio mortgage). Total net worth is essentially equal to current value of future defined benefit pensions. By Garth’s formula, we are 36% overweight in house equity.

#269 Jugheaf on 07.22.14 at 9:38 am

All these 30 somethings who claim net worth north of a million are a bunch of pathetic liars. Even if you graduated university with no debt, immediately found a job after graduation and started making 100k/yr at age 22, lived cheaply, and saved half your income and invested it in growth stocks, you could not be worth that much by that age.

It’s truly pitiful that some people need to lie about their net worth anonymously on the Internet in order to feel good.

#270 Ralph Cramdown on 07.22.14 at 9:42 am

#262 rosie “moving forward” in the knowledge that, “this won’t end well”

Thanks for the laugh, Rosie. The quote comes from the 2012 article linked below. Starts off with goldbug Peter Schiff’s younger brother having a meltdown on an LA freeway, continues to an investment banker who has to make do with “the Volkswagen of supercars.” I LOVE stories about richer/higher income people just can’t make ends meet.


Speaking of Peter Schiff, here’s some great quotes from October 2012:
“Runaway public spending combined with excessively loose monetary policy by the Federal Reserve and other global central banks will push gold to $5,000 per ounce within the next two years.”
“Gold’s got only one direction to go, and that’s higher.”
“One day we’re going to look back at $1,700 [gold] with nostalgia.”
One for three, Peter. Two if gold goes up 285% in the next three months. Could happen.

#271 Bottoms_Up on 07.22.14 at 9:44 am

#246 Millenial on 07.22.14 at 6:15 am
You have no clue how that person attained their wealth.

1) lottery
2) wealthy spouse
3) inheritance
4) “from money”
5) prudent savings and going without
6) real estate
7) investing
8) etc. etc.

#272 White Russian on 07.22.14 at 9:52 am

i was feeling pretty ok with my NW post until i read all these othere. now i am feeling pretty crappy. i shouldn’t have posted (#11) so early.

#273 Rabbit One on 07.22.14 at 10:02 am

Late 40’s.
About $1.2M.
Paid for R/E represents 35%.
No debts. We both have DBP, I have 2 DB due to job changes.
Our networth is small considering our current combined income.
We have had mid 5 digits income for many years, we are both immigrannts.
Hopefully we can catch up before the retirment, we are not expecting to rely on investment R/E.
Just don’t know what to do.
I know some people like me, we don’t bother realizing C/G, don’t want to deal with realestate agent, need to talk to long term tenant, etc.
But got to do somethinig (sell), R/E is worst investment return of all our assets.

#274 Sold and renting on 07.22.14 at 10:05 am

We’re 66 and almost 60. Net worth over $2-million, not counting pension. Renting these days, after selling $1-million country estate, which cost a fortune to run.

Husband still works part-time a couple of days a week, and I work for him pt time too. He then goes off on two week or two-month jaunts to Europe. I go on shorter holidays with him because I don’t really enjoy travel. Pension and part-time earnings pays the expenses. Investments growing.

Husband says: don’t let me work a day over 70. Then we expect to rent in a far more expensive city and will start to drawn down the savings. Lord knows we have longevity risk: old parents in their late 80s and early 90s. Lucky for us, they are financially independent.

#275 Rabbit One on 07.22.14 at 10:10 am

Btw Garth, I thought Rule of 90 works like this way:

If age 40 bought $600K townhouse with $500K mortgage, financial assets $70K, he is 89% exposure in R/E. $600K out of $670K. Good if he is age 20.
So, shouldn’t we include mortgage as R/E exposure?

Or, his R/E equity is $100K, financial assets $70K, his R/E exposure is 59%. He is just fine although big mortgage?
If so, people just need to pile up more mortgage to be compliant to rule of 90?
I am a bit confused.

#276 Brandon on 07.22.14 at 10:12 am

Why do I deduct my HBP payback if it’s just going into my RRSP? Seems like it should be a wash. Oh well, you said to do it so here it is:

28/29, 170k net worth, 57% is the house

#277 young & foolish on 07.22.14 at 10:27 am

The hate-on for public servants continues ……

#278 Jenn on 07.22.14 at 10:36 am

Three children all healthy—-Priceless.
One husband that adores me—-Priceless.
Built our own home—-Priceless.
Spent last night sipping beer and laughing—-Priceless.
Have a great job—- Priceless.

I have the most assets. I WIN!

#279 Randis on 07.22.14 at 10:37 am

32 and 32
NW: Financial assets of $300k
Was renting, but recently inherited a RE of $800k … Still trying to figure out what to do with it

#280 Doug in London on 07.22.14 at 10:45 am

@Teacher’s Ass-istant, post #242:
What you said reads just like something out of the book The Millionaire Next Door.

#281 Blarghagarble on 07.22.14 at 10:50 am

Ages 31 and 27.

Diversified, liquid assets: $113,000
Rusty car: $200
Real estate: $0
Debt: $0

#282 Bottoms_Up on 07.22.14 at 10:56 am

#275 Rabbit One on 07.22.14 at 10:10 am
Garth’s rule applies to ‘real estate exposure through equity’. It goes without saying that mortgage debt needs to be risk-managed and proportional.

So his rule is more for people with lots of financial assets and low-ratio mortgages, to ensure they have proper balance for their life stage.

#283 Saskabushed on 07.22.14 at 10:57 am

Back of the envelope but (for me 30, wife 29 and munchkin 1)
Net Worth: ~$71k
Real estate 0%, renting
Overall up $170k in the last two years.
Assets are
40% tfsa
30% rrsp
20% vehicles
10% employer contributed rrsp

Debt is student loans and vehicles, which I’m often tempted to pay off with cash, but I’m doing my best to stay liquid.

#284 Nom De Plume on 07.22.14 at 10:58 am

Changing my alias to keep anonymous, but posting to supply stats for Garth’s know-your-audience.

NW approx. 650K, of which 58% is RE. Age 43/44. Approximated the RE – went with MPAC valuation to be conservative, vs. the higher prices selling in the neighbourhood.

Vehicle, stuff, not counted, not worth it.

#285 young & foolish on 07.22.14 at 11:03 am

“Was renting, but recently inherited a RE of $800k … Still trying to figure out what to do with it”

Why, sell it of course … didn’t you know? The smart people are renting.

#286 Bottoms_Up on 07.22.14 at 11:03 am

#269 Jugheaf on 07.22.14 at 9:38 am
Again, you have no clue what their background is, did they live at home throughout their 20’s, inherited money, daddy bought them real estate 10 yrs ago etc.

There are a lot of variables, everybody’s lot in life is different.

And if they got into the right job in early 20’s (banking, investing, construction etc.), it’s easy to see how they could be making 200k+ per year in their 30’s.

#287 Gainsaywhodare on 07.22.14 at 11:07 am

33 & 41, NW $1.3MM, RE 47%

#288 Snowboid on 07.22.14 at 11:09 am

#157 omg on 07.21.14 at 10:30 pm…

For a retired government employee you sure don’t know much about your own pension.

A ‘grunt’ worker at $50-60K annually would receive after 25 years $ 2083-2500 a month pension – not $ 3500!

Benefits used to be good in BC, but most of them disappeared a few years back.

BTW, in BC the experiment in private sector taking over government services failed miserably. Less service at a higher cost – hardly a good deal.

#289 Suede on 07.22.14 at 11:16 am

Everyone is so obliged to disclose.

Exercise in shepherd and sheep psychology?

Ok I’ll give in. NW= complete o-pee-chee hockey card set with jaromir jagr rookie card.

#290 Smoking Man on 07.22.14 at 11:20 am

Sorry to interrupt the brag feast, but man..

Garth what happened to CBC, what happened to the 5 W’s

If I where you, I would destroy all references to being a Journalist.

History will judge them to be no more than, Apple bobbing Bo Bo’s..

#291 ponerology on 07.22.14 at 11:29 am

age 36
RRSP/DC pension/LIRA) $130K
Investments (non-real estate, mostly TFSA not in GICS): $40K
Savings account gathering dust: $2500
Rusty car and potential health hazard: $200
Net Real estate assuming 2008 property valuation:$100K (I view the house as lifestyle expense, not an investment)
No other debts.

#292 Mike Duffy's personal trainer on 07.22.14 at 11:29 am

I get paid by the pound so I,m broke. Maybe we can finally try the 10k run after the trial nonsense.

As for the civil servant question, Mike was a great example of how to work the system. I,d imagine most public workers would do exactly the same, given the opportunity.

#293 rosie "moving forward" in the knowledge that, "this won't end well" on 07.22.14 at 11:35 am

All this ” look at me I’m wealthy,” is leaving me deflated.


#294 Shawn on 07.22.14 at 11:36 am

Praise for CBC

Smoking man asks:

Garth what happened to CBC, what happened to the 5 W’s

Actually, CBC has smoked out a ton of news stores in the past couple of years. Senate crisis is one.

CBC has done a great job.

And take a look at the comments on CBC.ca they get tons of comments on their stores. Reader engagement. (And that is with a system that needs a password to comment) Almost as many comments as Garth on some stores.

CBC really is doing something right in the area of news.

I am no fan of government run business, but I really have to hand it to CBC when it comes to news.

#295 Dana on 07.22.14 at 11:37 am

Age: 37
Net Worth: $93k
Real Estate: 37%

#296 Silent the people on 07.22.14 at 11:38 am

How much of this is actually true! Ego’s, etc. play a big
factor in what we read….

Why would anonymous people manufacture numbers? — Garth

#297 PicketFence on 07.22.14 at 11:41 am

Ages 35 and 34, combined net worth

TFSA $68k
RRSP $162k
HISA $125k
Car $8k

Assets: $363k

Liabilities: $0

Sittin’ pretty, waitin’ for the RE crash ;)

#298 EDM GUY on 07.22.14 at 11:48 am

Age 37 and 36


46% house with no mortgage
44% financial assets
10% vehicles <- I have a big problem here, never a loan though

Mortgage was just paid off a few months ago so the financial portion of my NW will start increasing quicker now. :)

#299 calgaryPhantom on 07.22.14 at 11:49 am

30 years old
Net $160K

All liquid baby!

#300 workharder on 07.22.14 at 12:03 pm

31/35 (+ 2 kids) total assets 3.1 mil; 725k (conservative est) real estate of which there is a 450k mortgage. NW is therefore roughly 2.6mil? Not sure how to calculate RE exposure but 725/3100 is 23 % (which is ok, hopefully?)

Before you doubt, NW 3 years ago was only 300k or so. Of that 3.1 mil, 300k was a recent inheritance used, in compliance with will directions, to buy the house (I am against owning). When I was 22, I made 48K a year at what worked out at roughly 3$/an hour doing the same thing I do now (obviously paid much better now). Hubby and I work hard for the money.

#301 Westcoastlover on 07.22.14 at 12:08 pm

No debt, no morgatge, currently renting.
About 80k in cash, awaiting market correction the rest in held in TFSA, trading account’s and 35k in RRSP’s

#302 Pre-Retiree on 07.22.14 at 12:18 pm

Interesting post and request.

I am not much in favour of washing my dirty (or clean) clothes in public though.
so, I will remain quiet.

Intrigued about the comment of commuting pension and administering one’s own. Will be eligible to retire in 3 years which I am planning to. My defined benefit PP is very well administered and fully funded. Why would I want to commute? How can I hope to achieve better?
Can the terms change once you are a retiree? I don’t think there will be much change in the benefits for me between now and 3 years from now.
Food for thought though.

(a) Of course your benefits can change after you retire, as many US retirees have learned. (b) Most people find their investment returns on commuted pensions exceed those of plan administrators who are tasked with a more conservative mandate. (c) Most pensions die with you, or pay little to survivors. If you commute, you pass on 100% to your family. — Garth

#303 Lachplesis on 07.22.14 at 12:26 pm


Ages: 38 & 33
Assets: $1.13M
Liabilities: $260K (with tax-deductible being $249K)
Net Worth: $872K

House $620K – paid off
Condo $193K – (7% equity but tax deductible mortgage @ 2.35%)
About $253K in net financial assets (total less investment HELOC @ Prime)

Two cars – worth about $9K together

No inheritance, no family money, one university and one college degree. Two kids. Salaried employment with combined income under $140K until a few months ago.

#304 The American on 07.22.14 at 12:34 pm

Totally unrelated… Garth, if you make plans to enhance your blog for the future, it would be great to have a search field so users can search archived blogs by key words, phrases, topic, etc. Love the blog.

You mean go back and actually read what I wrote previously? Even I’m afraid to do that. — Garth

#305 Pistonbroke on 07.22.14 at 12:35 pm

Wife and I
House $700,000 paid for Coquitlam B.C.
Balanced portfolio Investments and TFSA $548,487.
Vehicles 3, Car, Truck, RV $ 80,000 paid for
misc $20,000
Bank $85,000
Total net worth $1.433,487
Age 68, semi retired

#306 Pre-Retiree on 07.22.14 at 12:36 pm

About commuting pension, one would have to include the fees paid to consultants as I sure do not have the savvy to do that. I am very good at something but unfortunately, not in the financial domain.
Plus, probable tax on profits and dividends although pension income is also taxable, I understand that much.
My DBPP pays 80% ot survivors and 60% to children if spouse dies beforehand.
At a retirement age, I would probably would want to invest a large part of it conservatively too.
So, might all wash in the end. Don’t know. I will need to spend some time to think about this carefully but I appreciate having a new point of view.

#307 Pre-Retiree on 07.22.14 at 12:37 pm

BTW, is that you in the suit? Things turned badly for a while? :)

#308 screwed on 07.22.14 at 12:38 pm

Well then, Mr. Harper no problems with potential bail ins in Canada. Seems a majority of Canadians are in a comfortable position to bail out the government and its liabilities when (not if) SHTF and .gov paycheques and pension cheques cannot be covered (or the cheque amounts buy squat all).

Many here have their NW in paper “assets” which are somehow “protected” by .gov.

Folks, when .gov is no longer able to pay its bills they will take from those “protected” accounts and give you another IOU.

The reset and subsequent default or haircut is already on the drawing tables.

Enjoy that “rich” feeling while it lasts!

FWIW, cat food tastes the same whether its eaten on the streets of the Eastside or in the dining room of a West Vancouver mansion (with no mortgage). At least the views are better, so they have that going for them.

NW is a useless measure when the money doesn’t buy anything. NW is only relevant for as long as the ponzis are working. When the music ends, all you need is a chair to sit.

Someone wanted to start a discussion on pensions. Don’t rock the boat, bro. Let ’em live the dream of having a great pension when they “retire”. Me? I don’t ever retire and I semi retired years ago. It’s all about choices. Got a great place to live with acres of privacy and plenty income opportunity. All my precious was lost in horrible boating accidents. Sorry, can’t support the pension dream but will sell you what we produce on the farm for the going rate. Today we accept our customer’s fiat. Tomorrow we may not, so be sure to have real valuables.

When the music stops, the big producers will not be able to run the machines or keep the lights on. There will be food shortages as production supply cannot meet the demand. Small producers with smaller cost and overhead will keep going but they cannot make up for the loss in commercial production.

Final thought. When is Canada joining the BRICS bank? It’s a natural fit given that both India and China are our biggest trading partners of the future. Forget the US and the USD. That ship has sailed into the abyss.

#309 Berniebee on 07.22.14 at 12:44 pm

Fifty-ish couple in Ottawa. (Surprise! Neither are civil servants.)

Old bungalaw in semi-respectable hood – $350k
Total RRSPs (Couch potato strategy, split evenly with spousal contributions) – $450k
Eleven year old minivan – $2k
Even older Chevy sedan – $750 (Driven daily. A lot.)
Several used guitars and an amplifier – $1600
Big ass snowblower (garage sale ) – $100
Not counting my cranky lawn mower and several “vintage” bicycles.

No mortgage, no car loan, no other debt.
Three kids at university (Ok, mostly self financed with summer and part jobs. But they eat a lot.)

Hmmm. It seems like I’m always buying used cars, houses, snowblowers, etc. I do not recommend this to anyone else. It’s a huge hassle scrolling through the Kijiji posts, there’s no “new” smell, and you’re only buying other peoples problems. Who wants that.
Always buy new. Seriously, you and I both want you to buy shiny new. Really.

#310 Liahona in Calgary on 07.22.14 at 12:45 pm

M.Sc. Degree
B.A. Degree
Diploma Technology Degree
Green Belt Kenpo Karate
Handedness: Ambidextrous
NSCA CSCS Strength Coach certificate
TFSA: Yes. Money in Bank: Yes
Mortgage Owner: Yes $420 K. Same shack is now “worth” $500K, went against Garth’s advice to rent for the next 80 years.
55 shares of Microsoft Stock
Doesnt file 1040 or FATCA ever.
Church: Holds Aaronic Priesthood, though inactive
Job(s): Yes; $110K+$30K
Chess: 1800
Wei Chi(Go): 12 Kyu
Deadlifts: 400 lbs for reps.
Bench presses: 265 lbs for reps.
Squats: 300 lbs for reps.
Guitar: Yes. Plays left and right handed equally well.
Keyboards: Yes self taught Bach Fugues.
Brain: Doesnt give a f$#ck about the Joneses because when you are dead these finances you cannot take with you.
Yes I am badass.

#311 Little Man on 07.22.14 at 12:53 pm

Age: 39
NW: $200k, 40 of which in cash waiting for equity ETFs to correct. No real estate. No debt.

#312 iheartoil on 07.22.14 at 1:04 pm

35 & 39 in Calgary
Assets = $1,149,917 (house, car, cash & investments)
Debt = $349,903 (99% Mortgage)
Net Worth = $800,014
% Mortgage = 43%

Real estate is currently ~54% of total assets… the plan is to not be dependant on that for retirement spending so still a bit of work to be done.

#313 Brunswick on 07.22.14 at 1:12 pm

Age: 28
Rent: $1550
Car Debt: :~$10,000

Net Worth: $161,000-$10,000 = $150000
TFSA: $38,000
RSP: $82,500
Company Shares: ~$41,000

#314 Van Coffee on 07.22.14 at 1:16 pm

We are 36 and 37 w/ 2 kids
NW = 2,679,330 consisting of financial assets only. Current number as of a few seconds ago linked in real time. Linked to my broker using DDE for Excel.

We rent as we live in Van and RE is silly relative to renting.

I don’t include any “tangible” assets in the NW calculation, as frankly, they are gonna be worth jack sh*t when I am done with them. They are going to be consumed.

The key to building NW = saving, saving, saving and some prudent investing along the way also helps.


#315 Capt. Obvious on 07.22.14 at 1:19 pm

37 and 38

About $535k split among bank, TFSA, RRSP, and investing accounts, plus one of us has a retirement pension plan. 0% in real estate right now.

#316 JimH on 07.22.14 at 1:25 pm

68 & 64

No dollar amounts here; but…

RE=8% of net worth

Liquid assets equivalent to (for the doomers):
1,352,380 lbs dried and sealed pinto beans in 100# sacks
34,829 lbs high quality apple-maple beef jerky cryo-vac sealed.

No yellow stuff

#317 beee on 07.22.14 at 1:29 pm

39 and 36 with 2 young kids

assets (before taxes on registered accounts):
investment assets: $548K
house: $330K

40K loans (staff loans with 0% interest rate and 0% credit card introductory rate)

net worth:

#318 cat man on 07.22.14 at 1:50 pm

net worth: $554k
age: 57
real estate: 0 (renter)
debt: 0
cats: 1 (priceless)

#319 edmontonian on 07.22.14 at 1:51 pm

45 partnered , no kids.
Me $180,000 in assets, my partner $300,000 in assets.
No loans or mortgages.

#320 devore on 07.22.14 at 1:53 pm

#43 TurnerNation

just imagine if that plane had been filled with 280 Palestinians.
Think it would have gotten more than a one-liner mention? No.
66 years of controlled media washing for that.

We care more about things that happen close to us, more about people we know, and more about others similar to us.

This has nothing to do with media. That’s just humans.

#321 Heidi on 07.22.14 at 1:57 pm

Age = 38 and 39

RRSP = 350,000
DB plan = 200,000
House = 350,000
Cottage = 70,000
Boats = 20,000
Cars = 10,000

Total debt = 200,000

NW = 800,000

#322 rick on 07.22.14 at 2:01 pm

Per Garth’s method, a pauper, at the median. Per Dummy book , which says to include expected monthly retirement pensions*240 (assuming 20 years life expectancy) ,a millionnaire?

Might just as well use the Dummy method, sorry Garth.

Just goes to show, the whole idea of net worth is somewhat derisory. We
have no agreed definition of financial worth let alone personal worth in the philosophical sense.

The good life is still a matter for debate and may have little to do with financial net worth.

#323 ShawnG in TO on 07.22.14 at 2:04 pm

Hi Jugheaf #269
owning $1M in stocks in 16 years is possible.
I grad in 98 with b sci in computer science. I was making 70k in my first year (1999). I was lucky, and it burst along with the tech bubble in 2002. I was making 70k a year 7 years later.

I stayed at home when I graduated, so I was saving about 35k a year. When I moved out I was first sharing rent with a buddy. I cut back on entertainment when I moved out. (Why eat out when you can have the party in your own man cave?) so my expense grew slowly.

using excel and historical prices of XIU, you can see that had you invested 3k in XIU every month from oct of 1999, and reinvest the dividends, as of yesterday you would’ve have $936,526.51

with dual income, it’s possible to save even more. so it’s not far fetched at all.

#324 Lurker on 07.22.14 at 2:13 pm

Here you go…

Pathetic 42 year old who is still just renting.

Registered Assets (TFSA + RRSP): $305k
Non Registered: $371k
Car: $30k
Ownership Stake in Small Business: $200k (illiquid)

Debt: $25k (loan for car at 0.9% interest).

Net Worth $881k

Really would like to buy some real estate to diversify, but have a tough time paying these prices even for the sake of diversification.

#325 CJ on 07.22.14 at 2:20 pm

Anyone who knows anything about Calgary’s Municipal Development Plan knows that real estate in this city isn’t going to plummet. It’s impossible. Thousands of people are moving here and the limits on city growth have been well established. Good luck waiting for the crash.

#326 Dave on 07.22.14 at 2:25 pm

wow, so many rich people on here, I will have to agree with Peter Steiner…. ‘on the internet, nobody knows you’re a dog’

#327 Pcayenne on 07.22.14 at 2:40 pm

-800K house (paid off-cost 350 in 2004)
-350000 in RRSP
-31000 in TFSA
-2.7 million in stocks

#328 Holy Crap Wheres The Tylenol on 07.22.14 at 2:49 pm

Just sailed back from Lake Erie, not doing that crap again.
Ported for one storm for two days. Just got back into decent phone service. It was great for a while but patchy out there in the middle of the lakes.
As far as stacking up, I’m good! Perhaps not as good as the Smoking Man but lets say for a guy in his sixties, I could retire now, yesterday, or tomorrow, but why? I like my company and my work. So I’m still adding to my portfolio on a daily basis. Besides keep em all guessing and stay under the radar. You never know when the Taxman is coming!

#329 Debt Collector on 07.22.14 at 2:53 pm

55 and 50. Gross income: roughly $50K. No debts. Net worth: $150K home (paid off, value after realtor sales commission); roughly $250K in investments (after tax value). Fit the rule of 90 almost exactly.

Total NW: c. $400K

#330 armpit on 07.22.14 at 2:58 pm

T.M.I. everyone….your I.P. address identifies you. Shame on you, Garth!

It does not. Shame on you. — Garth

#331 screwed on 07.22.14 at 3:07 pm

Let me get this straight.

If this blog is a good benchmark for Canadian’s incomes, pensions, assets, holdings etc then

The rich people don’t have mortgages or they rent. They don’t want to touch RE with a ten foot barge pole.

Then either:

a) The banks have billions of mortgages on the books which must be held by the poor suckers who don’t have any other investments to their name

b) Majority of Canadians is really abnormally rich vs. the rest of the world and there is no bubble and nothing to worry about

Which one is it?

Besides that, when the mortgages default so will CMHC which is a branch of the government (ouch) and rest assured, so will one or two banks (at the least there will be pain and suffering for the shareholders 100% guaranteed)

LOL! What a joke!

This blog is a benchmark only of questionable taste. Get lost. — Garth

#332 anon on 07.22.14 at 3:09 pm

Both late 40s w/ 3 children ages 17/15/10.

~$1.1M frothy 2014 dollars

$610k house (muni assessment minus $20k mortgage)
$550k non-govt pension CV after tax
$210k RRSPs+LIRAs+RESPs (~50/50 equities and fixed income)
-$240k 3x future university costs (aiiiiiee!)

No other debt, 2 el cheapo cars avg age 5 years (not included).

We assume house will drop by 50% when sanity returns, private pension will be only about 60% funded, and that tuitions will keep skyrocketing. Based on this, “real” value is probably closer to $550k.

#333 Entrepreneur on 07.22.14 at 3:11 pm

My mother always said “if you brag it will turn around and bite you” and she also said “be careful what you say and reveal.”

“But that’s a bogus number” in above article says it all.
True or not, it does not matter to be at the top.

#334 Tyler Durden on 07.22.14 at 3:17 pm


#335 Mr. Reality on 07.22.14 at 3:18 pm

Reading these posts makes one think that this country doesn’t have a debt problem…..lol

Mr R

#336 None on 07.22.14 at 3:26 pm

#5 Cliff Claven on 07.21.14 at 5:15 pm

Would you share a copy of that spreadsheet please?

#337 munson on 07.22.14 at 3:33 pm

How do you people calculate the current value of a DB pension?

Prayer. — Garth

#338 Financial Freedom at 40 on 07.22.14 at 3:38 pm

Re #328
This is what Garth (or Google analytics) sees:
He’s not quite the NSA. And I haven’t heard of anyone knocking on his door with a warrant…
Hide your IP address everytime you go online if you have something to hide…

That tells me (if I care to look) that you use Telus and are from somewhere in Canada. Wow. — Garth

#339 screwed on 07.22.14 at 3:43 pm

You’re avoiding the issue

This blog is a benchmark only of questionable taste. Get lost. — Garth

Your blog, your rules.

However, lots of feedback from your posters with “questionable” taste. I don’t think people make up their NW to posture here. It’s probably all very legit. Just confirms my POV about the liquidity and debt sloshing around in the system.

Rate hikes with so much individual LIQUID NW?

Gimme a break.

#340 AlbertaGuy on 07.22.14 at 3:45 pm

Geez, the PV of my future $650 CPP monthly income stream paid out for 25 years at 4% starting in 10 years has got to be worth at least $150 in todays $ !

#341 Smoking Man on 07.22.14 at 3:50 pm

#326 Holy Crap Wheres The Tylenol on 07.22.14 at 2:49 pm

Dude the secrets to life is imagination, you will never starve. Few years ago on a dare, and compition, with a dude from the old golf club. We where on main intersection begging.. In 3 hours I was up just under 100 bucks.

Whether your worth a buck or 50m your outlook should be pure, natural…

I’ve made huge a sacrifice modify my life to speak with my words and not my things. Hopefully help my kids find there own ticket to Paradise.. Years go by fast when you don’t need to worry were the next meal comes from an your primary goal is to be a Xbox hero.

My reward, everyone in my previous social circle thinks
I’m mad…. I know the family does, scathing drunken Xmas emails.

They may be right…

#342 Dana on 07.22.14 at 3:50 pm


For a DB pension, I calculated the current value as the $ amount I could transfer out if I quit tomorrow.

#343 Retired Boomer - WI on 07.22.14 at 4:02 pm

I think the numbers compare well with the previous survey.

The big question of the day:

How is the opinions on RE from the last survey stacking up? Yeah, it might be a bit early to say, but the numbers are showing a no growth/ minor melt in many pockets. Guess there are too many other things to worry about than RE and the market’s performances.

#344 Retired Boomer - WI on 07.22.14 at 4:04 pm

Oh, forgot to include any ‘value’ to the DB pension, or social security…. best add another $1 for me and $1 for the wife.

#345 Holy Crap Wheres The Tylenol on 07.22.14 at 4:27 pm

#339 Smoking Man on 07.22.14 at 3:50 pm

Yes the years go by way too fast, I think I recall the sixties, yep, nope, yep. Oh crap yep I recall, many bad days overseas in the war but many good ones back on native soil. If everyone thinks your mad then youve found the secret, shooosh don’t let it out!
Kepp cool dude!

#346 -=jwk=- on 07.22.14 at 4:32 pm

@246 A used boxster is about 15k, less than my Camry….

#347 saskatoon on 07.22.14 at 4:33 pm





Not quite. — Garth

#348 young & foolish on 07.22.14 at 4:40 pm

Wow … so many Million Dollar Renters here! Who would have thought there were so many? That should teach something to all those who look down on tenants!

So, I guess those Defined Benefit pensions will be inevitably downgraded (that’s the insinuation here anyway), so civil servants and teachers are screwed. But private investors will be spared, especially if they sign up with a good financial advisor.

I guess the future belongs to the 1% after all ….

DB pensions are an anachronistic blessing, but will be under increasing pressure in the decades to come. Everybody needs a Plan B. — Garth

#349 Realitybytes on 07.22.14 at 4:42 pm

Were’s all my divorced friends with poor decision making skills?
44 yo w/ 40k nw.

See you at walmart.

#350 Beth on 07.22.14 at 4:49 pm

Starting to feel sorry for myself after reading the above comments…

29 yrs old

Net worth: 70k (not including DB plan) 43% in house

House: 340k
Vehicle: 10k
TFSA: 30k
Gov’t DB pension: 70k

Mortgage: 310k

#351 T.O. Bubble Boy on 07.22.14 at 5:00 pm

@ #325 Pcayenne on 07.22.14 at 2:40 pm
-800K house (paid off-cost 350 in 2004)
-350000 in RRSP
-31000 in TFSA
-2.7 million in stocks

$2.7M in stocks @ age 37!

nicely done — one BIG stock got you there, or a portfolio?

#352 Cliff Claven on 07.22.14 at 5:06 pm

#5 Cliff Claven on 07.21.14 at 5:15 pm
Would you share a copy of that spreadsheet please?
No, won’t share my spreadsheet, even blanked out.
Firstly, you’ll then know my net worth if I were to email it to you, and I’ve posted my personal totals here under an alias different than my irregular previous comments. I suspect most regular posters have.

Secondly – its bespoke to my needs.
But I can describe, and you can create something yourself.

I’ve got a bunch of input cells for current values of all my various accounts – into categories. There’s like a dozen places money is tucked away, with work RSP plans, Orange guy’s shorts, self-directed trading, 2 credit cards etc. I also travel a fair bit for work, so if I’ve got a 1500$ expense report about to be paid back, it has a line item. It impacts my view on my ‘cash on hand’. And sometimes I transfer money between accounts, and there are line items for “mid-transfer”.

There’s a major section for “Assets” has sub-areas for RSP / TFSA / Unregistered/ “cash on hand” / Real Estate

Another major section for “Liabilities” includes all my credit cards, cheques written etc. At one point in history it had a line item for mortgage ! :)

Then it totals it all up and tells me a boat load of easy calculations
– RSP total
– TFSA total
– Real Estate
– Cash on Hand (important to see this as separate from your portfolio.).
– Net Worth
– percentage breakdowns etc.

Of course the inputs are manually entered in. It means logging into all your online accounts and plug in the values.

I’ve got some manual copy/paste going on to take my totals, and drop them into a place for historic tracking.
I can go back over the past few years and see at whichever month in history, what my real estate / high-level investment totals were.

And, just for fun, I’ve got that data from the past few years plotted into a chart – in my case with 3 lines (Real Estate / Overall Investment Portfolio / Net Worth.
Its nice to see the line go continually up, and to the right.

Then there’s also a whole separate tab for tracking performance of each bucket, on a monthly basis.
I’ve got ‘start of month’ and ‘end of month’ totals, deduct the bi-weekly contribution per account, to see the growth.

This lets me accurately total up the growth on my entire portfolio (7 accounts, at 4 institutions) at a glance.

example: June 2014, I was up 1.48% across all those accounts, which is an “annual run rate” of 17.71% if I maintain that pace.

Current month, we’re on day 22 and I’m up 0.95%, an annual run-rate of 11.42%. And with today’s bump, it will be higher tomorrow.

I take a full couch potato approach to where the money goes – I trust my advisors to put it in the right places. I just like to be acutely aware of what’s going on. And seeing the curve arc upward over the span of a few years really illustrates I’m on the right track and not to sweat the blips.

#353 T.O. Bubble Boy on 07.22.14 at 5:08 pm

@ #269 Jugheaf on 07.22.14 at 9:38 am
All these 30 somethings who claim net worth north of a million are a bunch of pathetic liars. Even if you graduated university with no debt, immediately found a job after graduation and started making 100k/yr at age 22, lived cheaply, and saved half your income and invested it in growth stocks, you could not be worth that much by that age.

It’s truly pitiful that some people need to lie about their net worth anonymously on the Internet in order to feel good.

Here’s what you’re missing:
– Many 30-somethings bought housing 10 years ago (big gains)
– Many 30-somethings lived at home longer
– Many 30-somethings work for technology companies and have stock compensation that often dwarfs base pay
– Many 30-somethings have changed jobs frequently, often moving up with bumps in salary beyond the typical CPI increases one might get while staying in same job

#354 Setting the record Straight on 07.22.14 at 5:15 pm

“also – if someone has say $5M+ in net worth, why are they working?”

That just makes you safely middle class.

Government can wipe that out in a heartbeat.

#355 TurnerNation on 07.22.14 at 5:18 pm

Devore you might mention this to H with his slavish attention provided to that little country next door to my example.
I know the deal.

#356 Liquid on 07.22.14 at 5:30 pm

27 yrs old

Net worth: $300K
$50K in home equity.
$150K in farmland equity.
$100K in stocks and fixed income.

Total Assets: $830K
Total Debts: $530K

All numbers are approximate.

#357 nw on 07.22.14 at 5:51 pm


Net worth $449,000

#358 Debt Collector on 07.22.14 at 6:26 pm

#309 Liahona in Calgary

“chess: 1800”

That’s your CFC rating?

#359 sean on 07.22.14 at 6:51 pm

re: munson #335

“How do you people calculate the current value of a DB pension?”

If you’re lucky your HR department will have some kind of online (and free) calculator for this. If you’re not (my case), you have to ether stump up ~$400 to have the company actuarial firm calculate the value each time you want it, or spend the time working out how actuaries calculate a CV. I went the latter route and have validated my calculations with data provided by a number of helpful individuals as they have retired and received their single company-provided valuation.

It’s moderately complicated and involves:

– mortality tables for you and spouse
– determining discount rates (typically two, one for the first 10 years and one for the remainder) using a set of actuarial rules from the published CANSIM values
– calculating the PV of your stream of payments out to your expected death (plus any survivor payments)
– accounting for any other benefits, e.g. bridging

With a bit of attention to detail you should be able to match company provided values within about 5%. I figure this is good enough since most plans, mine included, are significantly underfunded in the current low rate environment, so who knows what your ACTUAL payout will be? This is the “prayer” part of Garth’s response :-), see “Nortel” for a case study.

The details are specific to each individual plan so calculations for one plan aren’t really useful for another.

#360 T.O. Bubble Boy on 07.22.14 at 7:23 pm

@ #352 Setting the record Straight on 07.22.14 at 5:15 pm
“also – if someone has say $5M+ in net worth, why are they working?”

That just makes you safely middle class.

Government can wipe that out in a heartbeat.

Yes – agreed… I haven’t personally reached that point yet, but very curious as to people’s mindset.

#361 waiting on the west coast on 07.22.14 at 8:20 pm

I am impressed by the level of knowledge and detail-orientation. I definitely need to diversify over the next few years and get into a more balanced portfolio.

Still renting (and house horney but hopefully will be able to control the impulse. ;-)

RRSP 150k
TFSA 30k
Equities 70k
Corp (illiquid, valued at 4x ebitda) 2.1M (also have US$250k cash sitting in my primary business but not counting it)
Angel Investments (illiquid – latest round vals) 1.5M (but really wallpaper until exit)

Business loans 250k
Other debt 50k

NW ~2M (not counting the wallpaper – have put some of that up before)

#362 Kelly on 07.22.14 at 8:23 pm

Always late to the party!

47 yrs old. $417K net worth. $374K of which is real estate equity. Awesome! However, considering my income is south of $45K a year, I’m okay with that. I couldn’t rent a place in my present area for less than what I’m currently paying for housing costs, unless it was one room in a shared home, or a campground site. Garth’s Rule of 90 notwithstanding, I know that I’m better off than many in this country.

#363 Bob on 07.22.14 at 8:34 pm

Early 50’s. Steady combined household income of about $150,000.00 per year.

We are already benefiting from one municipal DB Pension that pays us an indexed $1,000.00 a month for the rest of our lives, so I guess it’s worth about $220,000.00 assuming 5% interest per year. (It would be worth $550,000.00 assuming a current bank interest rate of 2%.) We have a second DB pension that is accumulating right now and stands at about $100,000.00 commuted value)

We own our house but have a mortgage. We also have RRSP’s and TFSA’s and cash on hand, cars and other assets, etc, etc.

We wont pay the mortgage off with our investments. Our payment is lower than renting at the moment, so we will prefer to pay it off over time unless rates go back outrageous levels.

Total current net worth about $750,000.00…

Our projected net worth in 30 years, including the house, will be about $3,200,000.00 assuming 5% return over this time period. My projected life span – at least another 30 years. (My dad survived until his mid 90’s. Good genetics should help.)

#364 YR on 07.22.14 at 10:10 pm

44 years, No real estate, Renting.
Debt = $0, RRSP: 70K, RESP: 10K, TFSA=5K
Keen to build while balancing family living needs..

#365 wes coast on 07.22.14 at 10:20 pm

Ok, for those that are high net worth i’d rather hear about how you did it. I don’t know what i don’t know and my net worth reflects that

#366 Linda Mulligan on 07.22.14 at 10:22 pm

#148 – nope, not on the sunshine list & never will be #157 – prove your numbers please. Most DB plans have a formula of years of paid pensionable service times a set percentage & is based on a salary average. The more generous plans usually take the 5 highest consecutive years of salary. Based on a 70K figure with 25 years service & paying 2% a gross pension of $35K would be the outcome; gross is not net & 35K divided by 12 is less than $3K per month gross. Probably $2,500 per month net.

Regarding the firefighter wages – given that white collar workers often make in excess of 100k, why do you object to someone who goes into burning buildings making that much? Surely someone who risks their life in their daily profession should receive as much compensation as someone who debugs your computer? Would you care if the person who pulled you out of a burning building made 100K or would you just be happy you weren’t BBQ’d? Although firefighters often die relatively young – heart attacks occur in excess as a side effect of the profession.

#367 ABC on 07.22.14 at 11:29 pm

51 and 42
Net Worth = >$1.2MM
Real Estate Equity = ~222k or ~18%
much of the rest is liquid.

#368 love my kia on 07.23.14 at 2:04 am

46 yo single female librarian
Net 728,000
(400,000 home + 300,000 diversified assets + 28,000 KIA Sorento)

Some inheritance helped make my situation comfortable.

#369 Harry Wilson on 07.23.14 at 4:32 am

re #304 The American

It’s actually easy to do the type of search that you spoke of by using Google or Bing.com. Just enter into the search box the word site, followed by a colon, followed by the URL without the wwwDot. For example, the search…

site:greaterfool.ca “horny virgins”

…yields nineteen results in both Google and Bing (funny; I thought it would be more). This works for any website, and shows the text around the search term(s) in the results, so it’s easy to drill down to whatever you’re looking for.


For the people who are worried about Mr. Turner having your IP address, google “proxy server”, go to one, and enter the URL you’re looking for. Supposedly, this will hide your IP address from the site that you’re visiting, providing a false one.

Personally, I’m not too worried; my net worth is less than Mr. Turner’s walking-around money, so if he crawls through the cable and pops out of my keyboard, he has more to lose than I do.

#370 Well-T on 07.23.14 at 8:12 am

368 : Love my KIA

I wouldn’t count the Sorento as part of net worth. It’s mostly made of compressed rust. Sorry, couldn’t resist.

#371 Joe on 07.23.14 at 9:08 am

Personal Net Worth ~$118 K
Family ~$236

% Real estate 48%

#372 save. spend. splurge. on 07.23.14 at 10:54 am

30 years old

Personal Net Worth: $230K
(Haven’t worked in the past 2 years, coming up on 3 now)

0% in real estate

Debt: $0

#373 Julia on 07.23.14 at 12:52 pm

Would like to know more of your thoughts on pensions. Are already earned benefits really a write-off? I’d like to think after paying in a crapload of money that I can at least count on something out of it. Mine is fed, btw.

Not sure of your question. All pension income is fully taxable. — Garth

#374 Rock-O-Rama on 07.23.14 at 2:10 pm

I haven’t been on this blog for ages. Clearly I don’t belong here:


Self employed (musician + commission sales online and offline)

Zero assets except for 2 laptops, 3 guitars and a guitar amp (resell value, maybe $2k)

Savings: around $500
Credit card debt $24,500 (one card)

Current net worth = -$22,000

Unfortunately, I’m being renovicted from my downtown Vancouver apartment in a few months (market rent is around 50% higher than what I pay now). So yes, I’m done like dinner.

By the way, my band (before I joined) was signed to a bidding war US record deal, lived in LA, and had songs on major TV shows and Feature Films. We have new songs being picked up my major shows now as well, but the income paid out for licensing these days is a joke.

Have kids? Tell them NOT to be a musician. No one cares abour music anymore anyway.

#375 Johnny S on 07.23.14 at 3:43 pm

Ages 37/37 with 2 small kids and another on the way :-)

Net worth – ~$974K
House – $1080k – small 2 story in a nice spot in T.O.
Mortgage – $418k
RRSP – $123K – ETF’s – 80% stock indexes 20% bonds
DC Pension – $64K
TFSA – $20K – used as emergency fund
Cars – $45K
Small Business – $60K

I know you won’t agree but I plan to have the mortgage paid off in about 10-15 years… don’t plan to retire until 65 where investments should be about $1500k – $2000k I hope… having no mortgage will just give some personal freedom… no need to be rich… just comfortable

#376 burnaby_otoko on 07.23.14 at 4:26 pm

Net worth ~ 1.4 mil (RRSP – 20k, TFSA brokerage account: 65k, Managed Investment Portfolio : 1.45 mil)
Real estate – 0
Debt – 16k to BMW Canada

#377 Novice on 07.23.14 at 6:25 pm

Age: 33 & 34

Net Worth: $115,400 (cash, TFSAs & RESPs)
+ DC plan thru employer: $2,600

We rent & do not own any real estate.
We did not include the value of our cars.
0 Debt.

#378 Overseas Canuck on 07.23.14 at 7:10 pm

Financial assets: ~$230,000
Debt: $0

Single, 42-year old male.

#379 Julia on 07.23.14 at 7:53 pm

Would like to know more of your thoughts on pensions. Are already earned benefits really a write-off? I’d like to think after paying in a crapload of money that I can at least count on something out of it. Mine is fed, btw.

Not sure of your question. All pension income is fully taxable. — Garth


I meant in response to your comment that pension values should not be counted in net worth calculations. I am assuming that means that one should not assume benefits will materialize. I’ve paid 10 years into a federal pension and I’d hate to think all that money will be lost, or amount to nothing. On top of that, I have a service buy back option to consider. Should I pay in more than I have to – towards a benefit that may not materialise? I would hope I’d at least get back what I paid in…

#380 Linda Mulligan on 07.23.14 at 8:34 pm

#379 – Julia: pension plans are under attack, DB pension plans in particular. In Alberta Bills 9 (public) & 10 (private) have been tabled; both aim to reduce benefits & leave the door open to retroactively doing so at any time. You know that the legislation isn’t going to be in your favour when the government includes clauses to protect themselves from being sued by those affected by said legislation. Lots of outcry, public hearings have been held & anyone can write to the review committee up to August 15 of this year. Don’t know if it will result in any improvements or whether it is just a delaying tactic until the current government elects their new leader, then on with the show.

Bottom line is if this legislation passes & pension plan benefits are ‘reined in’ thereby you can bet that other parts of Canada will be following suit. Think about it – ‘rich’ Alberta is doing this – how likely is it that cash strapped parts of Canada will follow suit?

Far better for you to pour all your spare cash into TFSA’s & other investment vehicles that are more or less under your control. Your pension is likely a condition of employment & you can’t ‘opt out’ if that is the case, but don’t give them more than you have to.

#381 GTA slave on 07.24.14 at 12:59 am

Incredible the number of high net worth renters here – admittedly a self-selected group Garth attracts. And for a different tune:

35, 33 (engaged)

Assests: $2.42M (less tax liability)
Real estate $1.53M
RRSP: $75k
TFSA: $32k
Non-registered: $675k
Other: $130k

Liabilities: $1.11M
Mortgages: $1M
Other: $110k

Net: $1.31M

Real estate 117% (1.53/1.31) of total net worth or 32% of total equity (420k/1.31)

#382 None on 07.24.14 at 10:45 am

#352 Cliff Claven on 07.22.14 at 5:06 pm

Thanks very much!

#383 madcat on 07.24.14 at 5:18 pm

Net worth: 317K
No debt. Truck paid for.
No Real Estate. No investments (not savy enough)

#384 madcat on 07.24.14 at 5:19 pm

Oh… 38 years young…

#385 WE ARE THE 1% on 07.24.14 at 10:03 pm

RE holdings 8.8M
Investments 9.2M
Toys 1M
Mentoring, no charge

#386 mikep on 07.25.14 at 9:28 am

Net worth ~$170k