The following article is a guest post by Saxon Funk.

I would like to start this blog post by first thanking Sean Cooper for asking me to write about this subject that we both enjoy which is net worth. I would also like to thank Jonathan Chevreau for writing a blog post on me which allowed Sean and I to connect. To give you a brief background on me you can read Jonathan’s post here.

Now I know the title makes you think of Scotiabank’s tag line and it should. No matter how much money you have or think you do not have, if you are reading this article you are probably doing so on some sort of electronic device in the comforts of your home or at work which already shows that you have the beginning of a net worth. According to the 2014 Credit Suisse global wealth report, 50% of the worlds population has $3,650 USD or less of net worth which puts the majority of you readers in the top wealth brackets. To be in the top 10% you need $77,000 USD, and to be in the top 1% you need to have $798,000 USD.

According to Global Rich List, if you have $431,812 CDN in combined investments and home equity, you are among the top 3.62% wealthiest people in the world. I use $431,812 CDN as an example because the average house in Canada is worth that price as seen here by CBC. If someone purchases a home today at the average price in Canada and in 25 years from now it was paid off (assuming the house only rose at the average rate of inflation) this person without any other savings would be on track to be among the top 4% of the wealthiest people in the world.

The exciting part of net worth is the income it can produce. Global Rich List puts you at the top 0.65% of the richest income earners if you make the average income of $49,000 a year in Canada as per Workopolis.

If a person was able to put away $400 per month into their TFSA starting at age 30 until age 65 and received an average compounded return of 9% (Mawer’s Canadian Equity Fund A has averaged over 9% since 1991) they would amass a nest egg of $544,310 in 2015 dollars at 2.25% inflation. If at this point this individual converted their nest egg into bank stocks and averaged 4% a year from dividends, they would earn $21,772.40 in 2015 dollars tax-free plus OAS and CPP. With some simple math, it would allow this person to “retire with dignity” as Dave Ramsey puts it. This person would be accumulating just under $1,000,000 CDN in 2015 dollars and earning passively what it takes to be in the top 0.65% of income earners.

In conclusion if you are able to be disciplined enough to do what the average person can do your net worth will be above average, the top 1% to be exact.

Thank you for reading and I look forward to hearing about your future success.

Sean Cooper is the bestselling author of the book, Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians, available now on Amazon and at Chapters, Indigo and major bookstores, and as an Audiobook on Amazon, Audible and iTunes.