Being A Millionaire In Canada

Due to inflation, $1 million today has significantly less purchasing power than in previous decades, with current dollars worth less than 4% of their 1915 value.

Many Canadians are "paper millionaires" through home ownership but lack true financial freedom, as owning a $1 million home with a large mortgage doesn't equate to being wealthy.

Canada's wealth remains heavily concentrated among baby boomers who hold over US$83 trillion in net wealth - five times that of millennials.