Lifestyles of the Canadian ultra-rich
A new report by CIBC’s T. Stenner Group, the True Wealth Report 2006: Values and Views of Ultra-Affluent Individuals, provides an insight into Canada’s wealthiest. A few factiods:
- Canada’s wealthiest prefer to stay at the Four Seasons
- Favourite activities are travel and golf
- Most popular travel destinations: London, New York, Paris
- Cars of choice: Mercedes, BMW, Porsche
- They collect art, antiques, and wine
There is an interesting section on “Philanthropy and Family Values” in the report. Here are some highlights:
- The survey results indicate that the type of charitable organization
respondents are most committed to supporting is children’s
charities.Survey respondents are also committed to supporting the arts
(55%) and religious organizations (42%). Mental health (10%) does not
garner as much support within the survey sample nor does the environment (12%). It may be surprising with
the multitude of health-related charities that health care was only the
fourth most frequent response (38%). - The most important aspect of wealth for nearly half of all
respondents (47%) is providing “Security for my family�. “Security for
myself,�came in at a distant second with 16% of respondents listing it
as being of primary importance. - 60% claim that one of the top three reasons they choose to give their
time,money and/or support is that “While I give to support a certain
cause or organization,I am also mindful that it provides me with
strategic personal tax and estate benefits.�
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