The number of millionaires in Singapore fall short of expectation?

[mermaid]

There are 5.3mil of people in Singapore but only 101,000 of them are millionaires by the end of 2012.

Even after you factor in children, the poor, the middle class & the non residents, only 2 % of Singapore population is millionaires?
Why is tat so?

[phantom_opera]

hard truth, small talent pool, inferior gene pool

[xebay11]

There are 5.3mil of people in Singapore but only 101,000 of them are millionaires by the end of 2012.

Even after you factor in children, the poor, the middle class & the non residents, only 2 % of Singapore population is millionaires?
Why is tat so?

In assets or cash alone? Are you one?

[mermaid]

In assets or cash alone? Are you one?

I am not sure wat is their definition but I am not one yet :(

[xebay11]

I am not sure wat is their definition but I am not one yet :(

Asset millionaires should be many, more than 2%. Cash millionaires should be about 2%

[indomie]

http://peterfaur.com/wp-content/uploads/2012/09/households.jpg

[mermaid]

actually not hard for household to become millionaires.

a typical family having 3 decent working adults each person merely nid to hv 330k can become household millionaires liao :scared-1:

[hutsutau]

http://peterfaur.com/wp-content/uploads/2012/09/households.jpg
singapore no longer top

[leesg123]

In assets or cash alone? Are you one?
Total assets minus off current home.

e.g. if stay in cheap 3rm hdb worth 300k and owns a $1m condo, both fully paid, so is a millionaire. if you choose to stay in the $1m condo, U are NOT millionaire cos only have $300k assets (invested).

[mermaid]

Total assets minus off current home.

e.g. if stay in cheap 3rm hdb worth 300k and owns a $1m condo, both fully paid, so is a millionaire. if you choose to stay in the $1m condo, U are NOT millionaire cos only have $300k assets (invested).

actually the way they define millionaires is like understating the true number of millionaires leh ...