Think you’re wealthy? Here’s the real income you need to break into Canada’s top 1% — plus a few strategies to build that first-class portfolio

If you’ve ever wondered what it takes to “make it” into Canada’s top 1%, start with this: it’s not just about having a high-paying job. The top tier is often powered by a mix of salary, business income and investment gains.

Statistics Canada’s latest high-income release puts the cutoff to be included in the top 1% of the total income distribution at $293,800 (1).

That’s the minimum to enter the club. Once you’re in, the numbers climb fast: the average total income for top 1% tax filers was $606,000 (2).

Wealth is even more concentrated than income

High income can help you build wealth, but it doesn’t guarantee it. Wealth is about what you own minus what you owe — and the gap is stark.

In the third quarter of 2025, the wealthiest households — the top 20% — held 65.5% of Canada’s total net worth, averaging $3.5 million per household. Meanwhile, the bottom 40% held 3.1%, averaging $82,100 (3).

That’s why the “top 1% mindset” so often comes down to protecting assets, staying invested and not relying on a single source of returns. Whatever the size of your portfolio, there are potential benefits to following the wealth-building strategies of the rich. Here’s how you can work to grow your wealth like the top 1%.

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Diversify like the 1%

Ultra-high net worth individuals and households tend to follow one simple rule: don’t keep all your eggs in one basket.

Diversifying your portfolio across different assets can hedge your portfolio when the markets go awry — helping you mitigate risk while generating returns.

With the ongoing tariff uncertainty rattling global stock markets, investing in diversified ETFs can help you keep your portfolio from crashing during a market downturn.

With CIBC Investor’s Edge, you can trade stocks and ETFs for just $6.95 per trade. For active traders — those who make over 150 trades in a quarter — can enjoy a discounted commission rate of $4.95 per trade.

What’s more, you don’t have to pay any additional account or maintenance fees for RRSPs with a balance of over $25,000, and TFSAs with a balance of greater than $10,000.

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Build an asset mix you can stick with

The “right” portfolio isn’t the most aggressive one — it’s the one you can hold through ugly markets without panic-selling.

If you’re unsure how to set your mix (stocks vs. safer assets, Canada vs. global, growth vs. dividends), a financial adviser can help you choose a strategy that fits your goals and time horizon. A portfolio is only powerful if you can stay invested long enough for compounding to do its job.

Another option is to use an all-in-one money management tool like Monarch Money to help you determine your assets — and help plan your asset allocation.

The app seamlessly connects all your accounts in one place, giving you a clear view of your investments, net worth, loans and expenses. You can see your investment allocation and adjust your risk profile as needed. Plus, you can create personalized dashboard to track your savings goals, investment performance or to get insights into your cash flow and spending — whatever is most important to you.

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Monarch Money

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at monarchmoney.com

Article sources

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Statistics Canada (1, 2, 3)