10 Things Millionaires Have in Common

1 There are millions of millionaires – As of 2026, there are around 3,354,000 millionaires in Canada, which is about 5.7% of the Canadian population. A millionaire is someone with a net worth (assets minus liabilities) of $1 million or more. 

2 17% is the magic number – According to Fidelity, the average millionaire has been investing for 25 years and contributes 17.6% of their income annually. Diligently investing over decades is a tried-and-true method to get rich slow.

3 Good things come to those who wait – Millionaire status isn’t usually an overnight success story. Two-thirds are between 60–79 years old, and 23% are 50–59. The takeaway? Wealth is often the result of decades of saving, investing, and career growth.

4 The millionaire next door – Forget the flashy cars and designer labels. Most millionaires are surprisingly low-key. They live in modest homes, drive used cars, and prioritize financial freedom over flexing. Most track their expenses and stick to a budget.

5 The inherited wealth myth – Born rich? Think again. The vast majority of Canadian millionaires (70%) didn’t inherit a dime. They built their wealth through discipline, saving, and smart investing—not trust funds.

6 Who are the 1%? – To join the top 1% of Canadian income earners, an individual would need to earn at least $586,900 a year. Alberta and Ontario residents make up the highest overall percentage of the top 1% in Canada

7 High income is only part of the story – Earning a good income certainly helps, but many high earners never become wealthy. The top 1% of income earners often have carefully built caareers, networks, and investments over decades, leverageing rare skills, strategic risk-taking, and an understanding of how money works.

8 Tax efficiency can be a super power – Some of the wealthiest Canadians aren't necessarily the highest earners. They understand how to structure their finances, retain earnings, and invest tax-efficiently. For incorporated professionals and business owners, keeping more money invested can create a powerful advantage over decades.

9 A million dollars isn't what it used to be – Back in the ‘80s, a million bucks meant private jets and champagne dreams. Today, thanks to inflation, you’d need more than $3.1 million to match the buying power of $1 million in 1985.

10 What can I do for you? – Most millionaires didn't build wealth through perfect timing or complicated strategies. They built it over time with thoughtful decisions and a plan. My role is to help you navigate the complexities, identify opportunities, and make confident financial decisions so you can focus less on money and more on living the life you envision.