Singaporeans Among Fastest To Get Rich .....

[Maxus-MIFA9]

Rich in 10 years, I'm working for the past 40 years, where's my $$$$$$$$$$ ....

 

 

from Yahoo: Singaporeans among fastest to get rich

 

More than half (51 percent) of high-net-worth individuals (HNWIs) in Singapore became rich in less than 10 years, making them the world's fastest group to accumulate wealth, according to a report from Barclays.

 

Singapore also had the highest percentage of respondents (at 14 percent) who accumulated wealth in less than five years, cementing the city-state's position as the top 'get rich quick' centre.

 

On average, 26 percent of HNWIs across the globe achieved their net worth of at least US$1.5 million (S$1.9 million) in less than 10 years.

 

Singapore's super rich also bested respondents from Qatar, where 48 percent built up their wealth in less than 10 years, followed by the United Arab Emirates (UAE) with 32 percent and India at 30 percent. Completing the top five is China (27 percent) and Hong Kong at 16 percent.

 

Meanwhile, HNWIs in Switzerland and the United States were the slowest, with less than 10 percent attaining their wealth in under 10 years.

 

Entitled "Origins and Legacy: The Changing Order of Wealth Creation," the Barclays report polled more than 2,000 HNWIs across the globe.

 

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Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg

 

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link: http://sg.finance.yahoo.com/news/singapore...-034338657.html

 

 

 

Please don't include our HDB flags ...

 

Household debt soars .......... I am wondering also, who started it...

Edited July 6, 2013 by Picnic06

[Toothiewabbit]

The article meant to say Singapore is the fastest way to get "bubble" rich.

[Maxus-MIFA9]

  On 7/6/2013 at 2:14 AM, Toothiewabbit said:

The article meant to say Singapore is the fastest way to get "bubble" rich.

 

if kana 'poke', burst also fast .....

[Scion]

The title is misleading...

 

It says individuals in Singapore.. That doesn't necessarily mean Singaporeans

 

Haiz

[Yewheng]

I hope SG don't follow the mistake USA does that cause the 2008 crisis. [:/] :

[Maxus-MIFA9]

  On 7/6/2013 at 3:31 AM, Scion said:

The title is misleading...

 

It says individuals in Singapore.. That doesn't necessarily mean Singaporeans

 

Haiz

 

But it says 51% .....

[Maxus-MIFA9]

  On 7/6/2013 at 3:31 AM, Scion said:

The title is misleading...

 

It says individuals in Singapore.. That doesn't necessarily mean Singaporeans

 

Haiz

 

 

Buy ToTo got count ...

 

Like that every weeks got 2 persons millionaire (Toto $600,000/- plus his HDB house) ....

[Toothiewabbit]

  On 7/6/2013 at 3:19 AM, Picnic06 said:

if kana 'poke', burst also fast .....

Can't blame the strategy adopted...effective way to "grow" money besides QE.

 

But the bubble will burst...i am afraid.

Edited July 6, 2013 by Toothiewabbit

[Yewheng]

  On 7/6/2013 at 4:06 AM, Toothiewabbit said:

Can't blame the strategy adopted...effective way to "grow" money besides QE.

 

But the bubble will burst, guarantee chop.

 

Yes confirm will burst, but don't know when it will happen only.

[Evillusion]

  On 7/6/2013 at 3:48 AM, Picnic06 said:

But it says 51% .....

The remaining 49% are Singaporean born n bred...and the 51 %are those instant Singaporean/pr lar!

Edited July 6, 2013 by Eviilusion

[Deckbuild]

You got 2 cars now u beri rich leh

[Throttle2]

Its mostly property .

Take that away and Singaporeans will be a bunch of losers.

 

[Mllcg]

singaporeans are paper millionaires.

 

cpf+medisave+hdb+car = millionaire alr

[NightWind]

A very good point indeed. In fact the median real salaries of singaporeans actually fell in the past two years (after adjusting for inflation).

 

The middle income dream is no longer within the reach of the next generation of Singaporeans (i.e. to own that 1.6L Toyota and Private property will not be possible for the majority of next-generation Singaporeans)

 

  On 7/6/2013 at 3:31 AM, Scion said:

The title is misleading...

 

It says individuals in Singapore.. That doesn't necessarily mean Singaporeans

 

Haiz

 

[Maxus-MIFA9]

  On 7/6/2013 at 5:33 AM, Deckbuild said:

You got 2 cars now u beri rich leh

Even 2 cars, need it to travel to make ends meet, 40 years leow, never even cross 1/8 million mark inside the bank, where got million.

 

still holding up in my HDB shoe-box ....

[Viceroymenthol]

  On 7/6/2013 at 6:27 AM, Throttle2 said:

Its mostly property .

Take that away and Singaporeans will be a bunch of losers.

 

Please lar bro... Most listed companies executive board of directors at least $500K for the junior ones to $3m for chairman in smaller companies to $12m in big GLCs. Look at how many companies listed lar.

 

Besides the above, look at how many ED and MD, EVP, SVP in banks. Look at how many law partners in top tier and mid tier firms. Look at how many private practice specialist Medical Docs in Camden, Paragon and Parkway group.

 

Got lar, we got many many many millionaires who got rich from their careers lar. Not the get rich quick property millionaire kind.

[Thaiyotakamli]

I applied to be respondent but rejected cos my networth is in millions rupiah

Edited July 7, 2013 by Thaiyotakamli

[Thaiyotakamli]

  On 7/6/2013 at 6:27 AM, Throttle2 said:

Its mostly property .

Take that away and Singaporeans will be a bunch of losers.

i agree with you, look at property price for last 5 years, soar so much until everyone can become overnight millionaire to those who hold 2 or more properties