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S'pore will have more millionaires per population v US, China by 2030: HSBC

DOBIEMKZ

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Stary

Stary

Supercharged
(edited)
26 minutes ago, Rickster said:

If it includes a person's primary place of residence and cpf, then yes, many Singaporean will hit it exceed 1m.

This report is just another piece of sensational journalism trash when they don't even define the term millionaire.

No idea how they calculate that millionaire thing, but if net worth, then in Spore context,  Moneysense has a good net worth calculator here : https://www.moneysense.gov.sg/financial-tools/net-worth-calculator

Edited by Starry
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Rickster

Rickster

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2 minutes ago, Starry said:

No idea how they calculate that millionaire thing, but if net worth, then in Spore context, usually it means:

[Cpf (OA+SA+MA) + cash + investments (stocks/bonds/etc) + property value + insurance (cash value, if any) + businesses (if any) ] - all debts (property loan, car loan, CC loans, business loans, etc)

Moneysense has a good net worth calculator here : https://www.moneysense.gov.sg/financial-tools/net-worth-calculator

Yap, if they mean net worth... Then i think most HDB owners who have paid up their flats in mature estates such as TPY/AMK are mostly millionaires liao. 

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Throttle2

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1 hour ago, Sosaria said:

frightening isn't it?

when a large part of our working population is not even touching 10k pm


When a large part of our working population hits $10k, you can be sure tehbing is $5 a cup at kopitiam

muayhahahahaha.

stuck between a rock and a hard place

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ER-3682

ER-3682

Twincharged
5 hours ago, Mooose said:

They use USD 1 million, counting cash, stocks, bonds plus the house but minus mortgage owing ..

Not so straight forward for HDB owners even if they have SGD 1 million flats .. need to have fully paid the mortgage, and have another SGD 400,000 or so in cash, stocks or bonds ..

 

I think in MyCarForum,already over 95% of the Active Members is like this.

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mersaylee

mersaylee

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1 hour ago, Throttle2 said:


When a large part of our working population hits $10k, you can be sure tehbing is $5 a cup at kopitiam

muayhahahahaha.

stuck between a rock and a hard place

When that time cums...any MCF meet up at kopitiam gonna be a luxurious affair for me liao 😅

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Jellandross

Jellandross

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(edited)

To me, a true millionaire means the person can any day walk into a bank and withdraw $1M to pay a ransom or whatever. Else paper millionaires are everywhere including ppl who pay home loans until they draw their last breathe.

Edited by Jellandross
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Wt_know

Wt_know

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(edited)
10 minutes ago, Jellandross said:

To me, a true millionaire means the person can any day walk into a bank and withdraw $1M to pay a ransom or whatever. Else paper millionaires are everywhere including ppl who pay home loans until they draw their last breathe.

yalor ... else 

every hdb owner in AMK, TPY, CLEMENTI, BISHAN, TIONG BHARU, REDHILL, COMMONWEALTH

even some areas in PUNGGOL, SENGKANG, YISHUN .... are millionaire liao !!!

dont even need to talk about condooooo .... :grin:

Edited by Wt_know
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Estrangable

Estrangable

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these are all paper profits leh... u sell your 1M HDB then u stay at roadside? Or you move to bolehland? 

these numbers are like masturbation.... self song already. Not the real thing. 

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Dp26

Dp26

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35 minutes ago, Jellandross said:

To me, a true millionaire means the person can any day walk into a bank and withdraw $1M to pay a ransom or whatever. Else paper millionaires are everywhere including ppl who pay home loans until they draw their last breathe.

A millionaire in the past and now is the same la. Just that a millionaire today is not as rich as a millionaire 20 years ago. Inflation is real what. 
 

only multi multi millionaire then got 1m sitting in cash and waiting for ransom. Most will deploy their monies to work harder.
 

you hear before a friend’s friend’s uncle’s grand aunt having 8 properties worth 20m, shares worth 10m or so? If she only got 900k in cash now she’s not considered millionaire? 
 

millionaire just not as “rich” as before. Don’t have the same purchasing power. 
 

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Throttle2

Throttle2

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(edited)

True multi millionaire today to me is simple, must have at least $10mil networth. I dont care in what.

As long as it is assets that can be liquidated, cash, marketeable securities, properties, watches, jewelry, cars, paintings, whatever….

otherwise, dont sia suay……many rich people in Singapore lah……muayhahahhahahahha

hdb millionaire, condo millionaire, lokkok landed millionaire, shophouse millionaire , plenty lah


 

Edited by Throttle2
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Wt_know

Wt_know

Supersonic
(edited)
27 minutes ago, Throttle2 said:

hdb millionaire, condo millionaire, lokkok landed millionaire, shophouse millionaire , plenty lah

true, true, true, true, true .... based on simi sai IQuadrant "strategy" ...

buy a lokkok leasehold industrial unit also overnight become landlord millionaires liao with 90% LOAN ... :grin:

Edited by Wt_know
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Ginyu

Ginyu

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5 hours ago, Starry said:

No idea how they calculate that millionaire thing, but if net worth, then in Spore context,  Moneysense has a good net worth calculator here : https://www.moneysense.gov.sg/financial-tools/net-worth-calculator

The asset part of the net-worth calculator is only valid provided that the property is fully paid off if not falls under liabilities 😂 

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Atonchia

Atonchia

Supersonic
(edited)

RLDR

It's really long.....

More than too long didn't read🤦

So it cash-on-hand or totally on named assets?

If it's total assets.....you throw a stone and it hit someone......That person probably can be considered a millionaire.

What's the point?

We have seen people dying alone at one room HDB with unit million $$$ cash....Are they helping the whole society?

Being rich is not just on monetary terms.....

 

When we say the soup is rich....

Does it mean it has to be expensive?

The book is rich in knowledge .....

Must be a bloody expensive book?

Edited by Atonchia
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mersaylee

mersaylee

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4 hours ago, Atonchia said:

RLDR

It's really long.....

More than too long didn't read🤦

So it cash-on-hand or totally on named assets?

If it's total assets.....you throw a stone and it hit someone......That person probably can be considered a millionaire.

What's the point?

We have seen people dying alone at one room HDB with unit million $$$ cash....Are they helping the whole society?

Being rich is not just on monetary terms.....

 

When we say the soup is rich....

Does it mean it has to be expensive?

The book is rich in knowledge .....

Must be a bloody expensive book?

Oh please pardon me...as this is so sad to me that i donch understand the chim analogy...the expensively rich soupy book and all...i tink I need the sad guru...i mean Sadhguru to deliver the enlightenment 🙏😁

AATXAJy0WB_0c_83Y5KlFQY-qsslmGaaXftCudxwcw=s900-c-k-c0xffffffff-no-rj-mo.jpg

Man_Flair_20091209_NEE_0328-e_3_edit_95963182158793.jpg

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RadX

RadX

Moderator
15 hours ago, Rickster said:

If it includes a person's primary place of residence and cpf, then yes, many Singaporean will hit it exceed 1m.

This report is just another piece of sensational journalism trash when they don't even define the term millionaire.

It’s a bait to bring in the real millionaires to setup here

 

a real MasterBait @Jamesc say one

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Wt_know

Wt_know

Supersonic
(edited)
1 minute ago, RadX said:

It’s a bait to bring in the real millionaires to setup here

a real MasterBait @Jamesc say one

real master [thumbsup] 

so the article is not meant for mickey mouse readers … lol

Edited by Wt_know
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