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The All-Canadian Wealth Test 2009

11K views 10 replies 7 participants last post by  Mockingbird 
#1 ·
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#4 ·
According to these various tables, my household (wife and I) are in the top 20% of canadians... pretty much all thanks to Vancouver real estate appreciation, and our being die-hard LBYM'ers and DINKS...

Encouraging, I guess....
 
#8 ·
Yeah, something seems to be off with the wealth calculator. But it doesn't help that I am at the very lowest part of the range for one of the questions, and the very highest for another. It really skews the results.

It might be better if the questions weren't arranged into categories and simply allowed you to put in real age, real salary, etc., and then did the math working on a sliding scale.
 
#9 · (Edited)
Another problem with this kind of comparison calculator is when they compare the net worth of people making a similar salary.

In my case, I am relatively young, but making a very good salary. When comparing net worth of people "like me" who make that kind of salary, I always come up short, because most people earning that much are older and have had many more years than I have to build their net worth.

I have a feeling this factor may be skewing results for quite a few of us. There seems to be quite a few high income earners who are relatively young on this discussion board.
 
#10 ·
It seems to me that the calculator seems to produce reasonable results until you get to the last question on renting, owning a home without a mortgage and owning a home with a mortgage.

For a male, 35 to 44 years of age, university degree, couple under 65 with kids at home, household income of $50K to $75K and two earners, the median networth is shown as $522K.

Own with mortgage = $591 million
Own without mortgage = $1.109 million
Renting = $384K

The final choice seems to throw off results quite a bit.
 
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