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Old 06-12-2015, 02:36 PM
Posts: n/a

Alamak, so there were only 3 bonafide millionaires here and all the rest were wannabes, pretenders and computer cheats. All with bags full of hot air and sh*t

Originally Posted by Unregistered View Post
Interesting facts extracted from 2014 news articles:

Individual Millionaires
This article was first published in TODAY on 23 January 2014.
"Are you a high-net-worth individual? Going by the definition of Capgemini and RBCís joint publication, World Wealth Report 2013, a high-net-worth individual is someone with investable assets of US$1m or more (excluding their principal residence, collectibles, consumables and consumer durables). This is split further into three bands: your millionaire next door (US$1 to US$5m), the mid-tier millionaire (US$5m to US$30m) and the ultra-high-net-worth individuals (US$30m or more). It was reported in The Straits Times on 20 June 2013 that new numbers showed that Singapore had 101,000 millionaires by the end of 2012.

According to the Singapore tax authoritiesí annual report for 2012/2013, there were 4,220 resident and 34 non-resident taxpayers earning taxable income of S$1m or more for the 2012 tax year"

Houehold Millionaires

Just how Wealthy are Singaporean Households? 20 February 2014
"It is commonly quoted that Singapore has the most millionaires per capita in the world. Depending on which report we use, there are about 160,000 households (Wealth-X) who have USD$1M in investible assets or more. This is net of debt and excludes the primary residence. In total, there are 1.16M or so households resident in Singapore." In 2012, there are thus 17% of households which are millionaire households.

To sum up the 2 reports:

In 2012, Singapore has 101,000 individual millionaires and 160,000 household millionaires. To qualify, their networth of USD1M are not to include their principal residence, collectibles, consumables and consumer durables. It is important to note the individual millionaires are not necessary subsets of the HH millionaires, as some of the individuals may not form households.

So far in this forum, there seems to be 3 forummers who "qualify" to be called millionaires:
1. The 40+ yr old married man with no kids but with passive income of $250K-$400k
2. The mid 50 man with HH networth of $5.8M
3. The early 50 man who called himself uncle M

What about the rest?
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