View Full Version : 1 in 6 Singapore households are millionaires
Are u one of them?
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_805889.html
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.
Are u one of them?
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_805889.html
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.
What are "investable assets"?
"Investable asset refers to the combined value of household deposits, treasury bonds, mutual funds, stocks, financial planning products, and alternative investments. It exclues real estate property that is either self-owned or investment purposes, collectibles or consumer durables, individual business assets or land resources owned by individuals but have yet to be explored"
BCG definition
"Investable asset refers to the combined value of household deposits, treasury bonds, mutual funds, stocks, financial planning products, and alternative investments. It exclues real estate property that is either self-owned or investment purposes, collectibles or consumer durables, individual business assets or land resources owned by individuals but have yet to be explored"
BCG definition
interesting definition, so different from the HNWI definition.
CondoInterested
02-06-12, 03:01
It says household in Singapore, but didn't say Singaporeans.
So it can be more rich PR or foreigner landed into Singapore?
Yes, more likely it includes the expats. If you take them away, the ratio could drop to 1 in 10.
It says household in Singapore, but didn't say Singaporeans.
So it can be more rich PR or foreigner landed into Singapore?
Nothing to be proud of or ENVIOUS about, SINKAPOORIAN.
I bet you. 3 out of the six households are money launderiing PRC, NRI and other Foreigners who hide their money here.
Remember we have 2 millions of them in last 6 years.
Where got True blue SINKAPOORIAN in avg HDB pigeon hole millioinaire ?
Of the 3 singaporean household, 1.5 are related to Millionaire-In-Waiting (MIW) and cronies (sen Civil sevants, Stat Board, GLCs KhaKi), 1 are all other businessman man and rich hawkers and 0.5 are avg HDB dwellers who kenna TOTO or Big Sweep every month.
Tio Boh !!!:doh:
millionaire mean you have at least $1million in fully paid assets..
:banghead::banghead:
I am not surprised even with 1 in 10 singaporeans are millionaire.
Nothing to be proud of or ENVIOUS about, SINKAPOORIAN.
I bet you. 3 out of the six households are money launderiing PRC, NRI and other Foreigners who hide their money here.
Remember we have 2 millions of them in last 6 years.
Where got True blue SINKAPOORIAN in avg HDB pigeon hole millioinaire ?
Of the 3 singaporean household, 1.5 are related to Millionaire-In-Waiting (MIW) and cronies (sen Civil sevants, Stat Board, GLCs KhaKi), 1 are all other businessman man and rich hawkers and 0.5 are avg HDB dwellers who kenna TOTO or Big Sweep every month.
Tio Boh !!!:doh:
If someone bought a $1m property in 2006, sold it recently and stay in a HDB flat, he/she would be a millionaire today. For the many who continue to live in the $1m property they bought during the earlier years, they are not consider as millionaire because they didn't profit from their investment yet, Neither do they have the opportunity to reinvest their profits.
If someone bought a $1m property in 2006, sold it recently and stay in a HDB flat, he/she would be a millionaire today. For the many who continue to live in the $1m property they bought during the earlier years, they are not consider as millionaire because they didn't profit from their investment yet, Neither do they have the opportunity to reinvest their profits.
your post mean they got $1million in cash to qualify as millionaire?
your post mean they got $1million in cash to qualify as millionaire?
By selling their $1m property bought in 2006, they should easily pocket $1m profit in hard cash. Buy and stay in a HDB flat fully funded by CPF and you need just another $300K of net positive assets to be deemed millionaire. Net positive assets include cash value of your insurance policies, savings and other net positive assets.
phantom_opera
02-06-12, 13:01
新加坡港 个个百万 百万有了 想要千万 留给孩子 汽车楼房 没有时间 没有闲情 最后老了 医生看护 忙盲盲
To be a millionaire is not so difficult now as compared to 10 years ago. The last last five years would have created quite a number of local millionaires.
Yup, plus due to TOTO, there's an additional millionaire every few weeks.
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