Newswire

WEALTH PERSPECTIVES

December 8, 2025

Food For Thought: We’ve Never Been Wealthier

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

Canada’s Household Wealth by Generation, Q4 2024²
Average Net Worth & 1-Year % Change

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’, according to The Economist. By comparison, Gen X incomes were only 16 percent higher than Boomers’ at the same age—the smallest gain of any group, likely due to a weak labour market after the Global Financial Crisis.² 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 25 was more than 20 percent higher than Millennials in 2009.³

Yet, despite rising wealth across every generation, many don’t feel wealthy. Higher living costs have strained households, while constant connectivity makes it easy to feel like you’re falling behind the Joneses. Wealth can be a slippery

benchmark—it often feels like it’s never quite enough. Research shows that people quickly adapt. 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 ‘having enough money’ was a constant worry. Yet, among those with a net worth of at least US$10 million, 33 percent felt the same.

The Global Wealth Pyramid²

At the end of the day, however, it’s worth remembering: being a millionaire (in USD) puts you in the top 1.6 percent of the wealth pyramid globally.⁵

The information contained herein has been provided for information purposes only. The information has been drawn from sources believed to be reliable. Graphs, charts and other numbers are used for illustrative purposes only and do not reflect future values or future performance of any investment. The information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual’s objectives and risk tolerance. This does not constitute a recommendation or solicitation to buy or sell securities of any kind. Market conditions may change which may impact the information contained in this document. Wellington-Altus Financial Inc. (Wellington-Altus) is the parent company to Wellington-Altus Private Wealth Inc. (WAPW), Wellington-Altus Private Counsel Inc. (WAPC), Wellington-Altus Insurance Inc. (WAII), Wellington-Altus Group Solutions Inc. (WAGS), and Wellington-Altus USA Inc. Wellington-Altus (WA) does not guarantee the accuracy or completeness of the information contained herein, nor does WA assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Before acting on any of the above, please contact your financial advisor..

©2024, Wellington-Altus Private Wealth Inc., Wellington-Altus Private Counsel Inc., Wellington-Altus Insurance Inc., Wellington-Altus Group Solutions Inc., and Wellington-Altus USA Inc. ALL RIGHTS RESERVED. NO USE OR REPRODUCTION WITHOUT PERMISSION. www.wellington-altus.ca

If you no longer wish to receive commercial electronic messages from Wellington-Altus Private Wealth Inc., please send an email to unsubscribe@wellington-altus.ca

Recent Posts

August Market Insights: Beyond The AI Bottleneck

A leadership transition is already underway, but much of the market remains anchored to the last trade. Investors are still crowded into semiconductors, memory and artificial intelligence (AI) infrastructure supported by passive flows and a sell-side that continues to extrapolate an era of outsized earnings surprises that has largely run its course.

Our Continuing Dependence on Oil: Will the Energy Landscape Shift?

The conflict with Iran served as an abrupt reminder of energy’s central role in global order. In the spring, the Strait of Hormuz exposed the risks of routing roughly 20 percent of global supply through a single chokepoint. The resulting disruptions not only drove fossil fuel prices sharply higher but also reinforced a consequence that extends well beyond economics: energy security is inseparable from national security.

What Jevons Paradox Tells Us About the World Around Us

In 1865, British economist William Jevons observed a seeming paradox with the rise of the steam engine and its effect on coal consumption. As coal use became more efficient, he expected total coal consumption to decline. Instead, it surged. This observation remains relevant to the world around us.

Challenging the Artificial Intelligence Job Apocalypse

Is artificial intelligence (AI) coming for your job? According to The Economist, one in three people believe AI will cause widespread job losses, while seven out of 10 believe it will make it harder for people to find work.

Are the Bond Markets Sending a Signal?

Many market observers have recently turned their attention to the fixed-income markets, as long-term government bond yields have risen to levels not observed in more than two decades. By the end of May, 10-year and 30-year U.S. Treasury yields had risen to levels last seen before the 2008 crisis. Japan’s long-end bond yields also surged to multi-decade highs. Even in Canada, government bond yields hit multi-year highs.

The opinions contained herein are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Wellington-Altus Private Wealth. Assumptions, opinions and information constitute the author’s judgement as of the date this material and subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Graphs and charts are used for illustrative purposes only and do not reflect future values or future performance of any investment. The information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual’s objectives and risk tolerance. All third party products and services referred to or advertised in this presentation are sold by the company or organization named. While these products or services may serve as valuable aids to the independent investor, WAPW does not specifically endorse any of these products or services. The third party products and services referred to, or advertised in this presentation, are available as a convenience to its customers only, and WAPW is not liable for any claims, losses or damages however arising out of any purchase or use of third party products or services. All insurance products and services are offered by life licensed advisors of Wellington-Altus.