[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/rkillen.ca\/rich-richer-poor-poorer\/#BlogPosting","mainEntityOfPage":"https:\/\/rkillen.ca\/rich-richer-poor-poorer\/","headline":"Rich, Richer. Poor, Poorer","name":"Rich, Richer. Poor, Poorer","description":"Apparently the wealth gap is growing in this country, as the rich get richer and the poor get poorer. So says the Broadbent Institute, supporting its case with StatsCan numbers.\u00a0Canada\u2019s poorest 10% \u00a0saw their net worth plummet some 150% since 2005, while the top 10% jumped nearly 42% during the same time, with a median […]","datePublished":"2014-09-16","dateModified":"2024-04-19","author":{"@type":"Person","@id":"https:\/\/rkillen.ca\/author\/admin\/#Person","name":"admin","url":"https:\/\/rkillen.ca\/author\/admin\/","identifier":2,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/9802e0bea345b33afa85a53646482da09b2d7944429d88b59778b5d3e1c3dd14?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9802e0bea345b33afa85a53646482da09b2d7944429d88b59778b5d3e1c3dd14?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Richard Killen and Associates","logo":{"@type":"ImageObject","@id":"https:\/\/rkillen.ca\/wp-content\/uploads\/2016\/08\/landscape-logo-12345-for-web.png","url":"https:\/\/rkillen.ca\/wp-content\/uploads\/2016\/08\/landscape-logo-12345-for-web.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/rkillen.ca\/wp-content\/uploads\/2015\/03\/Rich-Richer.-Poor-Poorer.jpg","url":"https:\/\/rkillen.ca\/wp-content\/uploads\/2015\/03\/Rich-Richer.-Poor-Poorer.jpg","height":724,"width":1024},"url":"https:\/\/rkillen.ca\/rich-richer-poor-poorer\/","about":["Debt","Finances"],"wordCount":234,"keywords":["Canada wealth","poor","rich","wealth gap"],"articleBody":"Apparently the wealth gap is growing in this country, as the rich get richer and the poor get poorer.So says the Broadbent Institute, supporting its case with StatsCan numbers.\u00a0Canada\u2019s poorest 10% \u00a0saw their net worth plummet some 150% since 2005, while the top 10% jumped nearly 42% during the same time, with a median net worth of $2.1 million.While a growing income gap has been well reported, the wealth gap is an even broader measure, taking\u00a0\u00a0into account all assets, including housing and investment, minus debts.\u201cContrary to rosy reports of rising net worth and a post-recession recovery, these new numbers sound the alarm on Canada\u2019s wealth inequality problem,\u201d says Rick Smith, executive director of the Ottawa-based think tank, in a\u00a0Toronto Star\u00a0article.By 2012, the bottom 10% \u00a0saw\u00a0their debts outweigh their assets by $5,100. Seven years earlier, this number was only \u00a0$2,000. The bottom 50% of Canadians own just 6% of the wealth, while the bottom 30% own just 1%, the institute says.\u201cLooking at this broad picture of wealth using new Statistics Canada data released to the Broadbent institute, this report shows deep and persistent inequality,\u201d the institute adds. \u201cThis unequal distribution . . . \u00a0challenges the narrative that suggests Canadians are getting wealthier across the board.\u201dIf you find your own wealth gap growing, with debts overwhelming your assets, then come to Richard Killen & Associates for a free consultation, to see how you can start trending in the right direction."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Rich, Richer. Poor, Poorer","item":"https:\/\/rkillen.ca\/rich-richer-poor-poorer\/#breadcrumbitem"}]}]