1 in 6 Singapore households are millionaires: Report

[janet88]

Yes, my flat is worth about $550K…but I will be homeless if I sell it. So, I am just asset rich. What millionaire ? Far from it.

[newuser]

Investable assets include the balances held in your bank accounts, certificates of deposit, mutual funds, stocks and bonds. Insurance contracts with a cash value are also regarded as investable assets, as are funds held in retirement accounts.


How can it be? 1 in 6666 maybe. May be consulting firm refers to the foreign talent and not Singapore household.... :?

[boringmum]

I think they hv included PRs n new citizens which probably explains the findings.

[Oppsgal]

Millionaires in which currency? :rotflmao:


If convert HDB flat price to other countries' currency, maybe is true?

[limlim]

concern2:

:idea: Wow, one in six...so there must be many millionaires writing on kiasuparents hor..


One in 6....pinky is not, verykiasu2010 is not, daisy is not, Daddy D is not, I am not, that makes 5 of us already - maybe Chief is one

If chief is not, then one of the other 5 must be lying... :scared: someone would be lying here...a spy.. :nunchuk: a spy who is a millionaire... :siam:

set up a poll and we'll see if the ratio is 1:6.....

I'm not.. :sad: feel like low income now.. didn't realise got so many millionaires around me..

[Daddy D]

In more details today...

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_806234.html
[quote]The findings come from management consultancy Boston Consulting Group (BCG) in its Global Wealth Report 2012, which does not include property and other non-financial assets.
That figure was definitely boosted by the appreciation of the Singapore dollar over the past few years, while wealth was generated by the strong growth in the property market, said Mr Warren Lim, chief executive of Finexis Advisory.
He noted that households could have also made money last year if they caught the right timing in the stock market.
Those who bought property in 2005 and 2006 and sold them recently would have seen solid gains, he said....[/quote]Sounds more like paid advertisement...
:faint:

[janet88]

limlim:

concern2:

:idea: Wow, one in six...so there must be many millionaires writing on kiasuparents hor..


One in 6....pinky is not, verykiasu2010 is not, daisy is not, Daddy D is not, I am not, that makes 5 of us already - maybe Chief is one

If chief is not, then one of the other 5 must be lying... :scared: someone would be lying here...a spy.. :nunchuk: a spy who is a millionaire... :siam:

set up a poll and we'll see if the ratio is 1:6.....
.

Who wrote that article anyway? If I have one HDB to stay in, another condo to rent out, then I am millionaire. I am so miserable bcos I don't have have $50K cash. I am no millionaire...maybe thousandaire. Hahahah.

[peapot]

Usually Chinese people got $10 in their pocket, they will still say no money.

[JonC]

$1m is in USD.


Property you staying in not included, property you not pay up not included, property not making money not included.

Only liquid assets like cash or near cash (easily convert to cash), etc

[MummyThreeStreams]

Just coz someone doesn't tell you they are a millionaire, doesn't mean they are not! I know an old man who passed away recently. He lived frugally, dressed simply. After he passed away, we heard how he donated more than $1M to charity before he died, and left more millions in his will to be donated.


I was :yikes: :yikes: :yikes:

He was childless. Maybe I should've gone and been his god-daughter!!

But seriously, my point is many millionaires will keep quiet about their millions. You don't want to attract unnecessary attention (like people wanting to be your god-daughter)...