How Does Your Net Worth Compare With The Average Canadian Couple?

How Does Your Net Worth Compare With The Average Canadian Couple #personalfinance #networthJudging by the number of articles written on the topic of money in relationships, it certainly qualifies as a hot-button issue.

Does money complicate relationships? In most cases, yes.

Could working towards a mutual financial goal strengthen relationships? I’d like to think so.

Although I’m not delusional: growing your wealth as a couple comes with its own set of unique challenges.

In my opinion, if a couple wants to combine their finances and build a better future together, several things need to happen first:

They need to be comfortable talking about money in a pleasant but matter-of-fact manner.

That means no raised voices, no judgments, and no veiled personal attacks. Equally importantly (I’ve observed this too many times), money issues shouldn’t be used as a proxy punching bag when one party wants to air grievances about something else that’s troubling them.

They need to be 100% transparent about their financial situations, including significant assets, debts and bankruptcy history.

Having debts (especially if they were taken on to buy assets or to further one’s education) shouldn’t be a deal breaker, but hiding debts could be. Always make sure that financial conversations start off on the right foot and in good faith, to avoid nasty surprises down the line.

They need to share similar spending habits and lifestyle expectations, or be willing to adapt.

Opposites attract. Spendthrifts might admire penny-pinchers’ discipline, while the penny-pinchers might find spendthrifts exciting to be around. We can’t always choose who we fall in love with, but I bet anything that couples could avoid many unnecessary fights by being on the same page about how each of them spends their money.

They need to share similar financial goals.

If a person wants to be a millionaire by the age of 38 but their partner wants to live a lavish lifestyle in their 30s and 40s (nothing wrong with that), bitter feelings of resentment could arise over these choices that are fundamentally at odds with each other.

Last but not least, they need to be equally willing and invested in achieving their financial goals.

It’s important to be in synch in terms of how each party contributes to ensure that their goals will be achieved within the set timeframe.

Challenges aside, there are major financial benefits to being part of a couple that merges finances, such as:

Shared Expenses

At the risk of stating the obvious, a lot of expenses that have to be taken on by a single person can be shared between a couple that lives together.

Among those are some of the big-ticket items like rent, mortgage, condo fees, property taxes, and utility bills.

Need a sofa for your living room? A single person has to buy one, a couple would also only buy one.

How about high-speed Internet? The same logic applies.

As a side benefit, tasks like grocery shopping, cooking, cleaning and home maintenance can be done more efficiently when 2 people are involved, saving each of them plenty of time to pursue other money-making activities (like doing overtime at work or driving for Uber).

Support and Motivation

Living frugally is tough. Have I been tempted to splurge a little from time to time? You bet.

But I didn’t, because my husband reined me in at the last minute and reminded me why we’re living below our means in the first place.

Without his support, I wouldn’t have made as much progress on the money front as I have, that’s for sure.

Faster Compounding

When couples combine their earning powers, they make more, save more, and build their nest egg faster.

A bigger nest egg + the power of compounding (exponential growth year over year) = awesome!

More Investment Opportunities

When you have more investable assets at your disposal (because of factors mentioned above), more investment vehicles are within your reach, including elusive ones like commercial real estate and private equity.

Tax Benefits

I mean, isn’t that the primary reason why people get married? Just kidding.

How Does Your Net Worth Stack Up?

At the end of the day, couples ― given all the financial advantages that they have ― should increase their net worth at a faster rate.

Is that really the case?

Thanks to Statistics Canada’s readily available reports, instead of speculating on other people’s finances to test this hypothesis, I downloaded official survey results, compiled them into neat tables, and wrote this blog post.

If you’ve read my post How Does Your Net Worth Compare With The Average Canadian?, then you know I’m a fan of net worth data.

So without further ado, here’s the average net worth of Canadian couples at different stages in their lives:

Source: Survey of Financial Security (SFS) by Statistics Canada

Unsurprisingly, the average net worth grows steadily until couples reach retirement age.

Although it’s also interesting to note that, accumulation of assets seems to slow down mildly after people reach 54, presumably because a portion of people is retiring (or semi-retiring) or changing their life priorities around that time.

The two tables below provide a more detailed breakdown of average assets and liabilities (only including the most interesting data) of Canadian couples. Enjoy!

Average Assets of Canadian Couples:

Age GroupCashPrincipal ResidenceRRSP, RRIF, LIRATFSAVehicles
Under 35 years$27,581$420,856$38,938$11,119$34,474
35 to 44 years$34,856$722,723$104,440$12,452$50,394
45 to 54 years$48,496$944,659$221,343$20,753$63,654
55 to 64 years$85,547$834,965$318,452$34,162$61,731
65 years and older$98,187$721,071$297,471$45,409$41,396

Average Liabilities of Canadian Couples:

Age GroupMortgagesLine of CreditCredit Card DebtVehicle Loans
Under 35 years$259,429$10,644$5,486$16,959
35 to 44 years$377,403$19,479$6,956$21,361
45 to 54 years$329,463$36,384$8,768$21,890
55 to 64 years$199,137$36,252$7,218$15,358
65 years and older$67,357$19,482$2,888$6,388

Want to track your own net worth? Feel free to download my net worth spreadsheet.

Does anyone want to chime in on the topic of money in relationships? Be my guest!

Category: Financial IndependencePersonal Finance 101Retirement



  1. I’m curious as to where you sourced your data. Those averages strike me as very large numbers. For example CBC reported the average Canadian house price as ~$500,000
    vs your values – see

    Might not median values be a better measure for comparison?
    Example: you and 8 of your friends are in a room with Warren Buffett – the average net worth of the individuals in the room is in the billions (congratulations!), however the median net worth is probably a (large) bit lower.

    The numbers above also don’t seem to correlate with the numbers from your linked post – how can a couple’s net worth be significantly greater than 2x the individual’s net worth?

    There are lies, damn lies and statistics. – Mark Twain

    1. I sourced the data from Statistics Canada:

      My chart is based on results from the latest data (2016, as of the date of posting), and for “economic families” (or select the “persons not in economic families” option to get data for individuals).

      As to why couples’ net worth would be significantly greater than 2x individuals’ net worth, I could write a whole article about it. Here’s the short version (core reasons only): shared expenses, bigger savings, and faster compounding as a result.

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Article by: Flora Pang

Flora Pang aspires to become someone who plant trees in their spare time, write thank-you notes to strangers, and perform CPRs on unsuspecting elders. But until then, blogging about personal finance remains her only way of contributing to society. You can catch her rambling about money on Facebook, Twitter, and (to a lesser extent) Pinterest.