{"id":7413,"date":"2026-03-22T18:54:48","date_gmt":"2026-03-22T18:54:48","guid":{"rendered":"https:\/\/advisor.wellington-altus.ca\/themahrtinvestmentgroup\/?p=7413"},"modified":"2026-02-09T22:00:08","modified_gmt":"2026-02-09T22:00:08","slug":"food-for-thought-weve-never-been-wealthier","status":"publish","type":"post","link":"https:\/\/advisor.wellington-altus.ca\/themahrtinvestmentgroup\/food-for-thought-weve-never-been-wealthier\/","title":{"rendered":"Food For Thought: We\u2019ve Never Been Wealthier"},"content":{"rendered":"

Canadians are wealthier than ever. The latest statistics show that average household net worth reached $1.03 million last year and continued to rise. Total wealth has grown by 30 percent since 2019, with Millennial and Gen X wealth climbing by over 10 percent in 2024.1<\/sup><\/p>\n

\"\"<\/p>\n

Despite facing one of the toughest job markets in decades and a difficult path to homeownership, Gen Z (born 1997 to 2012) is doing just fine. At the same age, Gen Z incomes are 50 percent higher than Boomers\u2019, according to The Economist. By comparison, Gen X incomes were only 16 percent higher than Boomers\u2019 at the same age, the smallest gain of any group, likely due to a weak labour market after the Global Financial Crisis. Gen Z is also saving better, contributing a greater share to retirement plans than Millennials did when entering the workforce. In 2023, the median RRSP contribution for those under age 25 was more than 20 percent higher than Millennials in 2009.3<\/sup><\/p>\n

Yet, despite rising wealth across every generation, many don\u2019t feel wealthy. Higher living costs have strained households, while constant connectivity makes it easy for some to feel like they\u2019re falling behind the Joneses. Wealth can be a slippery benchmark \u2014 it often feels like it\u2019s never quite enough. Research shows that people quickly adapt.<\/p>\n

While incremental increases provide a temporary boost in satisfaction, expectations quickly reset. In one survey, 19 percent of people with a net worth of at least US$500,000 said that \u201chaving enough money\u201d was a constant worry. Yet, among those with a net worth of at least US$10 million, 33 percent felt the same.4<\/sup><\/p>\n

\"\"<\/p>\n

At the end of the day, however, it\u2019s worth remembering: being a millionaire (in USD) puts you in the top 1.6 percent of the wealth pyramid globally.5<\/sup><\/p>\n

Sources:<\/span><\/p>\n

    \n
  1. \n

    https:\/\/financialpost.com\/wealth\/canadian-households-worth-more-million-2024<\/a><\/span><\/p>\n<\/li>\n

  2. \n

    https:\/\/www.economist.com\/finance-and-economics\/2024\/01\/06\/generation-z-is-unprecedentedly-rich<\/a><\/span><\/p>\n<\/li>\n

  3. \n

    https:\/\/www.theglobeandmail.com\/investing\/personal-finance\/retirement\/article-retirement-savings-gen-z-canadians\/<\/a><\/span><\/p>\n<\/li>\n

  4. \n

    Your Money & Your Brain, Jason Zweig, page 127<\/span><\/p>\n<\/li>\n

  5. \n

    Based on USD. https:\/\/www.ubs.com\/global\/en\/wealthmanagement\/insights\/global-wealth-report.html<\/a><\/span><\/p>\n<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    Canadians are wealthier than ever. The latest statistics show that average household net worth reached $1.03 million last year and continued to rise. Total wealth has grown by 30 percent since 2019, with Millennial and Gen X wealth climbing by over 10 percent in 2024.1 Despite facing one of the toughest job markets in decades […]<\/p>\n","protected":false},"author":189,"featured_media":7414,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_oasis_task_priority":"","footnotes":""},"categories":[74],"tags":[40],"class_list":["post-7413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle","tag-wealth-planning"],"acf":[],"yoast_head":"\nFood For Thought: We\u2019ve Never Been Wealthier - The Mahrt Investment Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/advisor.wellington-altus.ca\/themahrtinvestmentgroup\/food-for-thought-weve-never-been-wealthier\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Food For Thought: We\u2019ve Never Been Wealthier - The Mahrt Investment Group\" \/>\n<meta property=\"og:description\" content=\"Canadians are wealthier than ever. The latest statistics show that average household net worth reached $1.03 million last year and continued to rise. 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