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Worthometer Canada: Compare Your Net Worth to Other Households [2016 Preliminary Data]

The largest recurring study of Canadian net worth, the Survey of Financial Security (SFS), is conducted by Statistics Canada, an agency of the federal government. The SFS for 2016, which was released last week, involved interviews of 21,000+ households about a wide range of financial matters, including their net worths. If you live in Canada, the SFS presents the best source for figuring out how your nest egg stacks up against others.

The SFS defines net worth as the amount that would remain if a household sold off all of its assets and paid off all debts. For 2016, the SFS reports a household median net worth of $295,100 (so if all those surveyed were listed in a long column in order of wealth, as many households would fall above the $295,100 mark as below it). In recent years Canadian median net worth has been growing steadily. On an inflation adjusted basis, the 2016 median reflects a 14.7 percent increase from the last SFS, which was conducted back in 2012.

Like similar US surveys, the SFS reports net worth data in percentiles. Here’s a chart of the published figures for 2016, some of which appear to have been rounded by the survey’s authors. All amounts reflect 2016 Canadian dollars.

Net Worth Percentile
$2,500 10
$70,600 30
$295,100 50
$687,000 70
$1,650,000 90

Source: Statistics Canada, Table 205-0004. [At Table 205-0004, click “Add/Remove Data” tab, in Step 4 of ensuing screen, click “Median value for those holding asset or debt,” and in Step 8 of same screen, click “apply”.]

These figures, which are based on surveys conducted during September 8, 2016 to December 8, 2016, contain only five data points. But an expanded chart of net worth percentiles, known as the Public Use Microdata File (PUMF), should be released sometime next year. The 2012 PUMF reported forty additional percentile levels, so if the 2016 PUMF follows suit, additional data is on its way.

In the meantime, I’ve prepared a beta version of Worthometer Canada that fills in the gaps between the five available data points.

How to Use Worthometer Canada

Follow these two easy steps.

Step 1: Calculate Your Household’s Net Worth

Apply this simple formula:

Total Assets – Total Liabilities = Net Worth.

If you haven’t figured your net worth before, consider using an online calculator such as those offered at AARPBankrate.com, and CGI.money.com. Include any real estate and vehicles you own because the SFS counts such items as assets (and it also counts any loans on such items as liabilities).

Once you’ve figured your household’s net worth, proceed to Step 2.

Step 2: Use Worthometer Canada to Look Up Your Household’s Percentile Ranking

Worthometer Canada appears in two different formats: (a) an online interactive calculator; and (b) a two-column table of net worths and percentile rankings. Both formats report the same results.

To use the calculator, simply enter your net worth where indicated, click the “Run Worthometer!” button, and view the results. (Whatever number you enter for net worth is completely confidential because this website neither collects nor stores your data entries).

To use the table, scroll down the “Net Worth” column until you reach the dollar figure that’s nearest to but not over your household’s net worth. The corresponding number in the next column, the “Percentile” column, reports where your household ranks in the 2016 SFS. For example, let’s say that Jane Dough’s net worth including residence and car is $457,893. According to the table, she ranks in the 58th Percentile of Canadian households, because that’s the percentile ranking closest to but not over her current net worth of $457,893.

And so, without further ado, here is . . .

Worthometer Canada: Calculator Format

To see where you stack up in the 2016 SFS survey results (as expanded by a process of linear interpolation), simply input your household’s net worth into the box below and click the “Run Worthometer!” button. Note: the amount you enter must be within the range of the 2016 SFS preliminary data, which covers reported net worths between $2,500 and $1,650,000.

Enter Net Worth here: $

Your Worthometer ranking will appear in this space.

Worthometer Canada: Table Format

If you have at least x dollars, then y percent of those surveyed are worth less than you

Net Worth Percentile
$2,500 10.0
$4,203 10.5
$5,905 11.0
$7,608 11.5
$9,310 12.0
$11,013 12.5
$12,715 13.0
$14,418 13.5
$16,120 14.0
$17,823 14.5
$19,525 15.0
$21,228 15.5
$22,930 16.0
$24,633 16.5
$26,335 17.0
$28,038 17.5
$29,740 18.0
$31,443 18.5
$33,145 19.0
$34,848 19.5
$36,550 20.0
$38,253 20.5
$39,955 21.0
$41,658 21.5
$43,360 22.0
$45,063 22.5
$46,765 23.0
$48,468 23.5
$50,170 24.0
$51,873 24.5
$53,575 25.0
$55,278 25.5
$56,980 26.0
$58,683 26.5
$60,385 27.0
$62,088 27.5
$63,790 28.0
$65,493 28.5
$67,195 29.0
$68,898 29.5
$70,600 30.0
$76,213 30.5
$81,825 31.0
$87,438 31.5
$93,050 32.0
$98,663 32.5
$104,275 33.0
$109,888 33.5
$115,500 34.0
$121,113 34.5
$126,725 35.0
$132,338 35.5
$137,950 36.0
$143,563 36.5
$149,175 37.0
$154,788 37.5
$160,400 38.0
$166,013 38.5
$171,625 39.0
$177,238 39.5
$182,850 40.0
$188,463 40.5
$194,075 41.0
$199,688 41.5
$205,300 42.0
$210,913 42.5
$216,525 43.0
$222,138 43.5
$227,750 44.0
$233,363 44.5
$238,975 45.0
$244,588 45.5
$250,200 46.0
$255,813 46.5
$261,425 47.0
$267,038 47.5
$272,650 48.0
$278,263 48.5
$283,875 49.0
$289,488 49.5
$295,100 50.0
$304,898 50.5
$314,695 51.0
$324,493 51.5
$334,290 52.0
$344,088 52.5
$353,885 53.0
$363,683 53.5
$373,480 54.0
$383,278 54.5
$393,075 55.0
$402,873 55.5
$412,670 56.0
$422,468 56.5
$432,265 57.0
$442,063 57.5
$451,860 58.0
$461,658 58.5
$471,455 59.0
$481,253 59.5
$491,050 60.0
$500,848 60.5
$510,645 61.0
$520,443 61.5
$530,240 62.0
$540,038 62.5
$549,835 63.0
$559,633 63.5
$569,430 64.0
$579,228 64.5
$589,025 65.0
$598,823 65.5
$608,620 66.0
$618,418 66.5
$628,215 67.0
$638,013 67.5
$647,810 68.0
$657,608 68.5
$667,405 69.0
$677,203 69.5
$687,000 70.0
$711,075 70.5
$735,150 71.0
$759,225 71.5
$783,300 72.0
$807,375 72.5
$831,450 73.0
$855,525 73.5
$879,600 74.0
$903,675 74.5
$927,750 75.0
$951,825 75.5
$975,900 76.0
$999,975 76.5
$1,024,050 77.0
$1,048,125 77.5
$1,072,200 78.0
$1,096,275 78.5
$1,120,350 79.0
$1,144,425 79.5
$1,168,500 80.0
$1,192,575 80.5
$1,216,650 81.0
$1,240,725 81.5
$1,264,800 82.0
$1,288,875 82.5
$1,312,950 83.0
$1,337,025 83.5
$1,361,100 84.0
$1,385,175 84.5
$1,409,250 85.0
$1,433,325 85.5
$1,457,400 86.0
$1,481,475 86.5
$1,505,550 87.0
$1,529,625 87.5
$1,553,700 88.0
$1,577,775 88.5
$1,601,850 89.0
$1,625,925 89.5
$1,650,000 90.0

Accuracy of the Preliminary SFS Data

How accurate is this beta version of Worthometer Canada?

To find out, I tested the 2005 SFS summary (which reported five data points between CDN$1,000 and CDN$862,900) against the 2005 SFS PUMF (which reported twenty-seven data points within the same range). In the chart below, the PUMF line appears in blue and the interpolated line from the summary data appears in red.

2005 SFS Canadian Chart

As you can see, the interpolated line hugs the PUMF line closely. This shows that for 2005 at least, the interpolated preliminary data was a fairly close predictor of the eventual PUMF results.

*   *   *

I’ll update this Beta version of Worthometer Canada when Statistics Canada releases the final 2016 PUMF database. In the meantime, if you’d like to explore other Frugal Fringe calculators, visit these links:

Photo Credit: Martin Cathrae. To see original at Flickr, click here.

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2 Responses to Worthometer Canada: Compare Your Net Worth to Other Households [2016 Preliminary Data]

  1. Rob January 2, 2018 at 2:09 PM #

    Isn’t a quintile top 20%, therefore 80% percentile?

    • A Noonan Moose January 2, 2018 at 2:43 PM #

      True.

      Statistics Canada, however, reports the median net worth within each quintile. So within the first quintile, the reported median net worth works out to the 10th percentile, in the second quintile it’s the 30th percentile, in the third quintile, it’s the 50th percentile, in the fourth quintile it’s the 70th percentile, and, finally, in the top quintile it’s the 90th percentile. So that’s why the first chart of the post reports net worths at the 10th, 30th, 50th, 70th, and 90th percentiles. Further, that’s why the source citation for Statistics Canada Table 205-0004 directs the reader to go to “table 205-0004, click ‘Add/Remove Data’ tab, in Step 4 of ensuing screen, click ‘Median value for those holding asset or debt,’ and in Step 8 of same screen, click ‘apply’.”

      I hope I’ve construed your comment correctly. Thanks for taking the time to ask the question—it’s a legitimate one! (And if i’ve misread your meaning, please leave another comment).

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