Canada a place for opportunity!
BMO Harris Private Banking released an interesting trend report on the Canadian wealthy. First let it be known that Canada is a place for opportunity! Two-thirds of Canada’s millionaires are self-made, with 68% stating that they are self-generated entrepreneurs and almost half are either immigrants or 1st generation Canadians. Further, the findings show a strong increase in the number of wealthy women – one-third of this demographic is represented by women and this number has been strongly increasing in the last few years. 4% of the Canadian wealthy is under 40 years old compared to 24% in the U.S. The importance of education as an important factor is strongly supported as one of the largest predictors to success as 80% of Canadian millionaires possess at least an undergraduate degree.
Why are these findings important to us?
The entrepreneurial spirit in Canada is alive and strong as shown by this study which is so important to our company, Century 21 McGuigan Pepin, as we began our journey in real estate almost 40 years ago as a family run business and through dedication, expertise, and client care we have become one of the most reputable brands in the industry. Also, our company is an avid supporter of higher education with a continued presence at McGill University in fundraising, alumni associations, and the funding of scholarships.
It is so good to see these positive trends!