You are right. I am also a millionaire. My condo is fully paid up and worth $1.5m. My stocks and cash is about $1m. While my
CPF is about $500k in total. So I am a millionaire but cant retire here. I plan to retire in Thailand soon. With my money, I can live in a mansion, employ two maids and a driver. I will live a more luxurious retired life than my current life.
Quote:
Originally Posted by Unregistered
Congratulations! How did they define a millionaire? Did they include the value of the home?
Anyway it is not surprising that there are many millionaires here. Our roads are clogged up with many big conti cars. Condos are snapped up as fast as they were rolled out.
The problem with being a millionaire in a country of millionaires is that you are only average if you just have a million or two to your name. This is one reason why many millionaires, I believe are still living in their HDB and drive Jap cars. They don't think and feel they are rich. They will tell you that if you take away their home value, their CPF money, they will have not much left. A millionaire today is not equal to one in 1980 or even 1990.
To be really rich, and be set apart from the rest, you need to have upwards of $10m! |