Like you, I am also a millionaire, at least for now. However, I live in a 4 room
HDB flat, which is paid up. Since my wife feels we are successful and wants her friends to know she is successful, she is urging me to buy a condo. So, I will be buying a condo which will cost me $1.5m and since I don't like the idea of having a mortgage for our home, I will be paying in full. So, after the sale of my flat, I will use the sale proceeds plus my cash to pay for the condo. Since the definition of a millionaire doesn't include our primary home, after I buy the condo, I will no longer be a millionaire as the amount of investable asset I will then have will be less than US$1. So sad, I can't tell my friends I'm a millionaire any more, the only consolation I have is that I can tell them I now live in a condo with nice big swimming pool, gym and tennis court. My wife will be very happy as she can tell her friends that she now lives in a condo.
Quote:
Originally Posted by Unregistered
Today's ST reported there are now 101,000 millionaires in Singapore (net worth of US$1m or more, excluding primary residence, collectibles and consumables).
I'm happy to announce I am one of the people who has just joined the ranks of millionaires in Singapore (top 2% of the Singapore population). Excluding my condo where I am staying, my net worth is now S$1.3m. Including my condo, which I share with my wife, my personal net worth is more.
I am happy with my achievement so far as my net worth 10 years ago in 2003 was only about $250k. I am now 44 years old. Within 10 years, my net worth multiplied by many folds. My wealth comes from my salary, bonuses and astute, timely investments.
Coming from a poor background, I really do appreciate our Singapore government and system. I fully support our excellent Singapore government.
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