<![CDATA[1 in 6 Singapore households are millionaires: Report]]>http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_805889.html

[quote]Singapore leads the world in terms of the proportion of households classed as millionaires after the ranks of the wealth swelled again last year.
A new study found that households with investable assets of US$1 million (S$1.24 million) or more jumped 14 per cent more to 188,000 last year.
That means 17.1 per cent of households - more than one in six - are millionaires.
The findings come from management consultancy Boston Consulting Group (BCG) in its Global Wealth Report 2012.
In 2010, 165,000 households were classed as millionaires.[/quote]Who feels like a millionaire now? :?

]]>https://forum.kiasuparents.com/topic/36371/1-in-6-singapore-households-are-millionaires-reportRSS for NodeThu, 05 Nov 2026 23:44:08 GMTFri, 01 Jun 2012 13:41:12 GMT60<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Thu, 14 Jun 2012 03:13:28 GMT]]>

DebDerris:
haha yes one car alone is so expensive


i guess the proof here is true about the coe being so high and still people buying so many cars
just read from papers that the $$ we pay for a cherry QQ here is more than enough to buy a porsche boxter in US or a Merc SLK in UK :stupid:

]]>https://forum.kiasuparents.com/post/777922https://forum.kiasuparents.com/post/777922Thu, 14 Jun 2012 03:13:28 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Wed, 06 Jun 2012 04:59:58 GMT]]>haha yes one car alone is so expensive


i guess the proof here is true about the coe being so high and still people buying so many cars

]]>https://forum.kiasuparents.com/post/774757https://forum.kiasuparents.com/post/774757Wed, 06 Jun 2012 04:59:58 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Tue, 05 Jun 2012 15:14:11 GMT]]>the late Ma Chi also rich wat, under that classification, one car alone is $1.8m

]]>https://forum.kiasuparents.com/post/774546https://forum.kiasuparents.com/post/774546Tue, 05 Jun 2012 15:14:11 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Tue, 05 Jun 2012 13:25:12 GMT]]>There are alot of aged 40-50s and also the very bold young ones who have made their $$ from property investments, but it is indeed unbelievable that there are so many millionaires in Sโ€™pore.

I wonder what is the definition of household income-total $$ of all at home?

]]>https://forum.kiasuparents.com/post/774497https://forum.kiasuparents.com/post/774497Tue, 05 Jun 2012 13:25:12 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Tue, 05 Jun 2012 13:02:40 GMT]]>

LOLMum:
hquek:

[quote=\"WeiHan\"]This report is probably true.


However, the figure includes new immigrants and PRs. Many of these come from financially troubled western nations to prevent their wealth from being taxed by their governments. As you may know, the root cause of western financial crisis is over spending through unsustainable public debt for social programs.

Example of these riches that have migrated to singapore recently are co founder of facebook etc....

From the way coe high even though most of us agree it is crazy price...yes, a lot of hidden wealth.

That fb guy...I think he cover for a lot of SG already


Oh boy, with that kind of money.. ๐Ÿ˜“[/quote]If the survey is properly done, the fb guy should be considered 1 household only. They are not talking about average wealth of Singaporean household, they are talking about how many households are millionaires. So, even if a household has billions, it is only 1 household which is a milliionaire (or billionaire).

]]>https://forum.kiasuparents.com/post/774486https://forum.kiasuparents.com/post/774486Tue, 05 Jun 2012 13:02:40 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Tue, 05 Jun 2012 12:10:49 GMT]]>

hquek:
WeiHan:

This report is probably true.


However, the figure includes new immigrants and PRs. Many of these come from financially troubled western nations to prevent their wealth from being taxed by their governments. As you may know, the root cause of western financial crisis is over spending through unsustainable public debt for social programs.

Example of these riches that have migrated to singapore recently are co founder of facebook etc....

From the way coe high even though most of us agree it is crazy price...yes, a lot of hidden wealth.

That fb guy...I think he cover for a lot of SG already


Oh boy, with that kind of money.. ๐Ÿ˜“

]]>https://forum.kiasuparents.com/post/774469https://forum.kiasuparents.com/post/774469Tue, 05 Jun 2012 12:10:49 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Tue, 05 Jun 2012 11:27:21 GMT]]>

WeiHan:
This report is probably true.


However, the figure includes new immigrants and PRs. Many of these come from financially troubled western nations to prevent their wealth from being taxed by their governments. As you may know, the root cause of western financial crisis is over spending through unsustainable public debt for social programs.

Example of these riches that have migrated to singapore recently are co founder of facebook etc....
From the way coe high even though most of us agree it is crazy price...yes, a lot of hidden wealth.

That fb guy...I think he cover for a lot of SG already

]]>https://forum.kiasuparents.com/post/774457https://forum.kiasuparents.com/post/774457Tue, 05 Jun 2012 11:27:21 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Tue, 05 Jun 2012 10:58:23 GMT]]>haha i knew singaporeans are rich. all secretly got money but appear no money. but the figure is really high!

]]>https://forum.kiasuparents.com/post/774441https://forum.kiasuparents.com/post/774441Tue, 05 Jun 2012 10:58:23 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Tue, 05 Jun 2012 10:06:44 GMT]]>haha, this is insane!


really that high? i seriously dont think so! so many people aroundโ€ฆ maybe they are taking into consideration only families and not individualsโ€ฆ so children who are 21-25 and still working independently also classed in millionaire category.

]]>https://forum.kiasuparents.com/post/774411https://forum.kiasuparents.com/post/774411Tue, 05 Jun 2012 10:06:44 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Tue, 05 Jun 2012 08:51:57 GMT]]>This report is probably true.


However, the figure includes new immigrants and PRs. Many of these come from financially troubled western nations to prevent their wealth from being taxed by their governments. As you may know, the root cause of western financial crisis is over spending through unsustainable public debt for social programs.

Example of these riches that have migrated to singapore recently are co founder of facebook etcโ€ฆ

]]>https://forum.kiasuparents.com/post/774377https://forum.kiasuparents.com/post/774377Tue, 05 Jun 2012 08:51:57 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Tue, 05 Jun 2012 00:29:05 GMT]]>

wonderm:
concern2:

....so.. :scratchhead: report might be true? My level got 6 units, so one of us must be millionaire.. ๐Ÿ˜† Statistics, statistics. :clubmyself:


Don't think the 1/6 ratio applies down to block level. While some HDB blocks have very few millionaires or none, some high end condo may have 100% millionaires living there. Same goes to different circles of friends/relatives, I suppose.

kekeke i think concern2 is just trying to tell us with statistics that she's a millionaire 1/6 of the time... :rotflmao:

you good lor.. my level only got 4 units.. statistics says i got no hope oredi.. :rotflmao:

]]>https://forum.kiasuparents.com/post/774098https://forum.kiasuparents.com/post/774098Tue, 05 Jun 2012 00:29:05 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Mon, 04 Jun 2012 04:04:28 GMT]]>

tutormum:


That doesn't account to 1 in 6 being a millionaire. Maybe they take all the money and average over the whole population? :?
Statistic is wrong. Strongly feels that Computation has error.
Honestly only tangible assets to be millionaires not easy leh. Maybe I am the poor to feel the possibility of the report.

]]>https://forum.kiasuparents.com/post/773728https://forum.kiasuparents.com/post/773728Mon, 04 Jun 2012 04:04:28 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Mon, 04 Jun 2012 03:31:55 GMT]]>I only know for sure there are 26 newly minted millionaires since jan this year - those TOTO draw winners. in addition, those who won the big sweep :evil: :evil: :rotflmao:

]]>https://forum.kiasuparents.com/post/773721https://forum.kiasuparents.com/post/773721Mon, 04 Jun 2012 03:31:55 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Mon, 04 Jun 2012 02:39:13 GMT]]>

concern2:
....so.. :scratchhead: report might be true? My level got 6 units, so one of us must be millionaire.. ๐Ÿ˜† Statistics, statistics. :clubmyself:

Don't think the 1/6 ratio applies down to block level. While some HDB blocks have very few millionaires or none, some high end condo may have 100% millionaires living there. Same goes to different circles of friends/relatives, I suppose.

]]>https://forum.kiasuparents.com/post/773709https://forum.kiasuparents.com/post/773709Mon, 04 Jun 2012 02:39:13 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Mon, 04 Jun 2012 01:33:52 GMT]]>

Intermezzo:
MummyThreeStreams:


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)...

:rotflmao: :rotflmao: :rotflmao:

:goodpost: :rotflmao:

....so.. :scratchhead: report might be true? My level got 6 units, so one of us must be millionaire.. ๐Ÿ˜† Statistics, statistics. :clubmyself:

]]>https://forum.kiasuparents.com/post/773692https://forum.kiasuparents.com/post/773692Mon, 04 Jun 2012 01:33:52 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Sun, 03 Jun 2012 22:58:08 GMT]]>

MummyThreeStreams:

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)...
:rotflmao: :rotflmao: :rotflmao:

]]>https://forum.kiasuparents.com/post/773666https://forum.kiasuparents.com/post/773666Sun, 03 Jun 2012 22:58:08 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Sun, 03 Jun 2012 06:00:08 GMT]]>

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)...
That doesn't account to 1 in 6 being a millionaire. Maybe they take all the money and average over the whole population? :?

]]>https://forum.kiasuparents.com/post/773478https://forum.kiasuparents.com/post/773478Sun, 03 Jun 2012 06:00:08 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Sun, 03 Jun 2012 05:28:19 GMT]]>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)...

]]>https://forum.kiasuparents.com/post/773474https://forum.kiasuparents.com/post/773474Sun, 03 Jun 2012 05:28:19 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Sun, 03 Jun 2012 05:07:31 GMT]]>$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

]]>https://forum.kiasuparents.com/post/773468https://forum.kiasuparents.com/post/773468Sun, 03 Jun 2012 05:07:31 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Sun, 03 Jun 2012 03:33:14 GMT]]>Usually Chinese people got $10 in their pocket, they will still say no money.

]]>https://forum.kiasuparents.com/post/773442https://forum.kiasuparents.com/post/773442Sun, 03 Jun 2012 03:33:14 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Sat, 02 Jun 2012 04:53:32 GMT]]>

limlim:
concern2:

:idea: Wow, one in six...so there must be many millionaires writing on kiasuparents hor.. ๐Ÿ˜†


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 ๐Ÿ˜† ๐Ÿฆ†

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.

]]>https://forum.kiasuparents.com/post/773250https://forum.kiasuparents.com/post/773250Sat, 02 Jun 2012 04:53:32 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Sat, 02 Jun 2012 03:34:56 GMT]]>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:

]]>https://forum.kiasuparents.com/post/773233https://forum.kiasuparents.com/post/773233Sat, 02 Jun 2012 03:34:56 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Sat, 02 Jun 2012 02:02:55 GMT]]>

concern2:
:idea: Wow, one in six...so there must be many millionaires writing on kiasuparents hor.. ๐Ÿ˜†


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 ๐Ÿ˜† ๐Ÿฆ†

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..

]]>https://forum.kiasuparents.com/post/773204https://forum.kiasuparents.com/post/773204Sat, 02 Jun 2012 02:02:55 GMT<![CDATA[Reply to 1 in 6 Singapore households are millionaires: Report on Sat, 02 Jun 2012 01:35:45 GMT]]>Millionaires in which currency? :rotflmao:


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

]]>https://forum.kiasuparents.com/post/773195https://forum.kiasuparents.com/post/773195Sat, 02 Jun 2012 01:35:45 GMT