Average Net Worth by Age 60 in Canada (2026 Benchmarks)
By Wealthvieu
·
Updated
The average net worth at age 60 in Canada is $800,000-$1,100,000. The median is $500,000-$700,000. Here’s your pre-retirement assessment.
Net Worth Benchmarks at Age 60
| Percentile |
Net Worth |
| Top 10% |
$2,500,000+ |
| Top 25% |
$1,200,000-$2,500,000 |
| Average |
$800,000-$1,100,000 |
| Median (50th) |
$500,000-$700,000 |
| Bottom 25% |
$200,000-$500,000 |
| Bottom 10% |
Under $200,000 |
Retirement Readiness by Net Worth
| Liquid Assets (excl. home) |
Retirement Readiness |
| $1,500,000+ |
Very comfortable — can retire anytime |
| $1,000,000-$1,500,000 |
Comfortable — on track |
| $500,000-$1,000,000 |
Moderate — may need to adjust lifestyle |
| $250,000-$500,000 |
Challenging — work longer or downsize |
| Under $250,000 |
CPP/OAS/GIS dependent |
Income Sources in Retirement
| Source |
Typical Monthly Amount |
| CPP (at 65) |
$800-$1,350 |
| OAS (at 65) |
$700-$750 |
| RRSP/RRIF withdrawal |
$2,000-$4,000 |
| Pension (if applicable) |
$1,500-$4,000 |
| TFSA withdrawal |
$500-$2,000 |
How Much Do You Need?
| Retirement Lifestyle |
Annual Need |
Required Portfolio (4% Rule) |
| Basic ($40K/year) |
$40,000 |
$600,000 (after CPP/OAS) |
| Comfortable ($60K/year) |
$60,000 |
$900,000 |
| Premium ($80K/year) |
$80,000 |
$1,300,000 |
| Affluent ($100K/year) |
$100,000 |
$1,800,000 |
Sample Net Worth at 60
Example: Well-prepared 60-year-old
| Asset/Liability |
Amount |
| Home (paid off) |
$900,000 |
| RRSP |
$550,000 |
| TFSA |
$100,000 |
| Pension value |
$200,000 |
| Non-registered |
$150,000 |
| Savings |
$50,000 |
| Total Assets |
$1,950,000 |
| Mortgage |
$0 |
| Other debt |
-$5,000 |
| Total Liabilities |
-$5,000 |
| Net Worth |
$1,945,000 |
This person can retire comfortably immediately.
Are You Ready to Retire?
| Checklist Item |
Status |
| Mortgage paid off |
✅ or close |
| Emergency fund (1 year) |
✅ |
| Debt eliminated |
✅ |
| Health benefits figured out |
✅ |
| CPP/OAS understood |
✅ |
| RRSP drawdown plan |
✅ |
CPP Timing Decision
| Start CPP |
Monthly Amount |
Best For |
| Age 60 |
64% of max (~$880) |
Need income now, shorter lifespan |
| Age 65 |
100% (~$1,350) |
Standard option |
| Age 70 |
142% (~$1,920) |
Can delay, expect longevity |
Delaying increases payments significantly.
Key Decisions at 60
| Decision |
Considerations |
| When to retire |
Health, finances, desire |
| Downsize home |
Free up equity, reduce costs |
| RRSP to RRIF conversion |
Must by December 31 of year you turn 71 |
| OAS clawback |
Income over $86K triggers clawback |
| Estate planning |
Will, POA, beneficiaries updated |
Final 5-Year Push (60-65)
| Strategy |
Impact |
| Continue working |
Add $100,000-$300,000 |
| Max RRSP |
Another $150,000+ |
| Delay CPP |
7.2% more per year delayed |
| Pay off mortgage |
Eliminate largest expense |
Common Retirement Mistakes
| Mistake |
Consequence |
| Retiring too early |
Outlive savings |
| Not accounting for inflation |
Purchasing power erodes |
| Healthcare underestimated |
Major unexpected expense |
| Too conservative portfolio |
Growth still needed |
| Giving too much to kids |
Depletes nest egg |
