What it means to be a millionaire in Canada in 2025, focusing on how inflation, real estate values, and wealth distribution have changed the significance of the million-dollar threshold.

• Due to inflation, $1 million today has significantly less purchasing power than in previous decades, with current dollars worth less than 4% of their 1915 value.
• Many Canadians are "paper millionaires" through home ownership but lack true financial freedom, as owning a $1 million home with a large mortgage doesn't equate to being wealthy.
• Canada's wealth remains heavily concentrated among baby boomers who hold over US$83 trillion in net wealth - five times that of millennials.

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