Net Worth Calculator for Canadians

How to Calculate Your Net Worth in Canada

Net worth = total assets − total liabilities. Add up the current value of everything you own, subtract every debt you owe, and the result is your net worth. It can be negative, which is common early in a career or after buying a home, and that is fine; what matters is the direction it moves over time.

1. List your assets at today's value. Bank balances, TFSA, RRSP, FHSA, RESP, other investments, your home, and vehicles.
2. List your liabilities at today's balance. Mortgage, credit cards, lines of credit and HELOCs, car loans, and student loans.
3. Subtract. Total assets minus total liabilities is your net worth.
4. Compare and repeat. Check it against the medians for your age, then recalculate on the same day each month or quarter.

The calculator at the top of this page does the arithmetic for you and keeps Canadian accounts in their own fields. For how to value each item, after-tax and liquid net worth, and common mistakes, read our full guide on how to calculate net worth in Canada.

A worked example

Here is a fictional Toronto-area couple in their late 30s, to show how the pieces fit together:

Their net worth is $756,500 − $439,800 = $316,700. Of that, $230,000 is home equity ($650,000 value minus the $420,000 mortgage), so their net worth excluding the home is $86,700. Both numbers are useful: the first is what you are worth on paper, the second is closer to what you could actually draw on.

What counts toward net worth?

Anything with a resale or cash value that you own counts as an asset; anything you are obliged to repay counts as a liability. A few Canadian accounts raise questions:

Does an RRSP count toward net worth?

Yes. Count the full market value; that is the standard convention and the one Statistics Canada uses. Just remember that RRSP withdrawals are taxed as income, so the spendable value is lower. For a conservative view, multiply the balance by one minus your expected tax rate in retirement: a $48,000 RRSP at a 30% rate is roughly $33,600 after tax.

Does a TFSA count toward net worth?

Yes, at full market value with no tax adjustment, since qualifying withdrawals are tax-free. Count what the account is worth today (cash, GICs, ETFs, stocks), not your contribution room or what you deposited. The same goes for an FHSA, whose qualifying withdrawals for a first home are also tax-free.

Does home equity count toward net worth?

Yes. Put your home's estimated market value in assets and the mortgage balance in liabilities; the difference is your equity. Use a realistic value: your municipal assessment is a starting point, but recent sales of similar homes nearby are usually closer to market. Because real estate makes up so much Canadian household wealth, it is worth tracking your net worth with and without your home.

Do pensions, CPP, and OAS count?

A workplace pension can. Include a defined contribution pension's account balance, and for a defined benefit pension use the commuted or termination value on your annual statement if it shows one. Statistics Canada includes employer pension plans in household net worth, so include yours for a like-for-like comparison with the tables above. CPP and OAS are usually left out because there is no balance you own.

Cars, RESPs, and everything else

Count vehicles at today's resale value, not the purchase price; Canadian Black Book is a free reference. Include an RESP at its current value if you want the full household picture, though the money is earmarked for a child's education. Leave out everyday belongings like furniture and electronics unless they have real resale value; they make the number bigger without making it more useful.

Net worth vs liquid net worth

Liquid net worth counts only assets you could turn into cash quickly, such as bank accounts, TFSAs, and non-registered investments, minus your debts other than the mortgage. It answers a different question: how long could you cover an emergency or a job loss? A household can have a high net worth and a low liquid net worth if most of its wealth is in a house and an RRSP.

How to track your net worth over time

A single calculation is a snapshot; the trend is what tells you whether your plan is working. There are two practical ways to track it:

• Manually, once a month or quarter. Re-enter your balances in this calculator or a spreadsheet on the same day each time and record the total. It is free and takes about 15 minutes.
• Automatically. A net worth tracker connects to your bank, credit card, and investment accounts and keeps the total current as balances sync. Our guide to free net worth trackers in Canada compares the options, and Unified does it across all your Canadian accounts.

How to grow your net worth

There are only two levers: raise assets or lower debts. In practice that usually means paying off high-interest debt like credit cards first, keeping an emergency fund in a high-interest savings account so surprises don't go on a card, and using your TFSA, RRSP, and FHSA room for long-term savings. A budgeting app or our free budget template helps you find the monthly surplus that does the growing.