A lot of millionaire wealth is in home ownership in high value markets. Really doesn't matter if you can realize that asset.
On the good side our average wealth indicates the range between high and low saver is a little more equitable than some other countries. I would really like Canada to be more like Denmark in terms of equity. There's no real reason we couldn't be with our immigrations requirements for wealth and education. Even refugees - remember they are the wealthier ones who are forced to leave their home country due to circumstances beyond their control.
https://www.cbc.ca/news/business/millionaires-wealth-credit-suisse-canada-1.4870248
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BTW this boat, moored in Vancouver, doesn't belong to a mere millionaire.
ReplyDeletere: that yacht and similar price tags. It is sobering and boggling when I realize winning the proverbial lottery jackpot would only put me in the peewee little leagues of this game.
ReplyDeleteIf even there. I realized a long time ago "winning a million" would pay off housing and get us a couple dream vehicles but not actually allow us to stop working any earlier.
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