Useful comparison is vs your segment: Canadians of your age, income, province. Crossed with Statistics Canada Survey of Financial Security 2024.
The 4 percentile zones
Below average (0-25)
Worse than 75% of Canadians like you.
Average (25-60)
Where most are. Problem: CPP + OAS replaces ~40% of pre-retirement income for middle earners.
Above average (60-85)
Better than 60-85% of segment.
Top decile (85-100)
Top 15%. Exceptional.
The 5 differentiating variables
1. Savings rate
| Percentile | Typical Canadian rate |
|---|---|
| Top 10% | 25-40% |
| Top 25% | 15-25% |
| Average | 5-9% |
| Bottom 25% | 0-2% |
2. Debt structure (TDS)
| Percentile | Typical TDS |
|---|---|
| Top 10% | 0-20% |
| Top 25% | 20-30% |
| Average | 30-40% |
| Bottom 25% | 44%+ |
3. Investment vs cash savings
Top 10%: 60-80% in real investments. Average: 18-28%.
4. TFSA + RRSP utilization
68% of top decile maxes TFSA + contributes to RRSP. Only 22% of average Canadians.
5. Written 5-year planning
71% of top decile has written goals. Only 11% of average.
Why average isn't a good target
- CPP + OAS ~40% replacement (insufficient)
- Property concentration in TO/Vancouver
- Average Canadian longevity 82 = 17+ years post-retirement
Average = downgraded retirement.
How to move up a quartile in 12 months
Below to average (25→60)
Pay credit cards. Build CAD 1,000 buffer. Save 5%.
Average to above (60→85)
Save 15%. Group RRSP up to match. Move from HISA to ETFs in TFSA.
Above to top decile (85→95)
Max TFSA + RRSP + FHSA. International diversification.
Top decile to top 1% (95→99)
Real estate portfolio, alternative investments, estate planning.
Based on Statistics Canada SFS 2024 + CRA data.
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About the author
Enrique 'Kike' Faúndez is an Information Systems and Management Control Engineer from Universidad de Chile, with master’s degrees in Finance from Universidad de Chile and Industrial Engineering from Pontificia Universidad Católica de Chile. He has 15+ years of experience in regulated financial services across finance, operations, and digital product development. He founded CashControlly in Santiago, Chile, with the conviction that personal financial control should not be a privilege, but an accessible and well-designed tool.
- Master's in Finance, Universidad de Chile
- Master's in Industrial Engineering, Pontificia Universidad Católica de Chile
- Information Systems and Management Control Engineer, Universidad de Chile
- AI and ITIL certifications
- 15+ years in regulated financial services
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