Typical Millionaire - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Investments and Net Worth

Investments and Net Worth Talk all about money making exploits, shares, property, building net worth and retirement matters




Typical Millionaire

Reply
 
Thread Tools
  #1 (permalink)  
Old 20-10-2007, 01:21 AM
Salary.sg
Guest
 
Posts: n/a
Default Typical Millionaire

Following its World Wealth Report 2007 released in June (see my post Lots of Millionaires), Capgemini and Merrill Lynch have recently released more details on the typical millionaire in Singapore.

In their Asia Pacific Wealth Report 2007, they repeated the old information:

- Singapore has 67,000 High Net Worth Individuals (HNWI)
- Singapore has the fastest growing HNWI population at a rate of 21.2%

... and provided new information:

With a combined wealth of US$320 billion, these rich individuals have an average net worth of US$4.9 million, higher than the global average of US$3.9 million and the Asia-Pacific average of US$3.3 million.

An interesting finding is that "the Indonesian population residing in Singapore comprised a significant share of the local HNWI population and wealth."

The report went on to estimate that in 2006 "approximately 19,000 HNWIs of Indonesian origin resided in Singapore and held approximately US$93 billion in financial wealth."

In other words, close to 30% of the high net worth wealth here belong to Indonesians. I'm sure many of us are not surprised.

As for asset allocation, our HNWIs put the largest proportion (36%) of their wealth in real estate, compared to the other 8 Asia-Pacific countries. They also put the least proportion (10%) in fixed income instruments.

The report also noted that Singapore "has one of the few real estate markets that has surpassed pre-crisis levels." Maybe this explains why property investments figure so significantly here.

And maybe property is becoming a bubble here.

As for their sources of wealth, 36% of our HNWIs became rich because of their businesses. 22% are wealthy because they inherited their fortunes.

To put it differently, inheritance is ranked 2nd as a source of wealth for these rich individuals. Rich parents eh?

46% of them are in the 41-55 age group, while 32% are in the 56-70 age group.

Finally, 78% are male.

So, the typical millionaire in Singapore:

- is male,
- about 50 years old,
- has about US$5 million of financial assets not counting his residence,
- likes to invest in property,
- became wealthy from either business or inheritance, and
- is probably an Indonesian...


http://www.salary.sg/2007/typical-millionaire/

Reply With Quote
  #2 (permalink)  
Old 11-01-2008, 02:11 AM
Tan---
Guest
 
Posts: n/a
Default 737

I like the way you summarised it, haha!

"So, the typical millionaire in Singapore:

is male,
about 50 years old,
has about US$5 million of financial assets not counting his residence,
likes to invest in property,
became wealthy from either business or inheritance, and
is probably an Indonesian... "

Reply With Quote
  #3 (permalink)  
Old 14-07-2008, 09:37 PM
MyMy---
Guest
 
Posts: n/a
Default 2181

Besides those that inherited wealth,and/or from their businesses, what is the profile of the youngest millionaire's age and in which line is he in. What about employee, which is the sector that has most millionaire if you have the data. Rgds

Reply With Quote
  #4 (permalink)  
Old 08-09-2011, 04:31 PM
Millionaire Member
 
Join Date: Sep 2011
Posts: 275
Hermit is on a distinguished road
Default

Quote:
Originally Posted by MyMy--- View Post
Besides those that inherited wealth,and/or from their businesses, what is the profile of the youngest millionaire's age and in which line is he in. What about employee, which is the sector that has most millionaire if you have the data. Rgds
If he is employed, he would typically have a professional qualification ie law, medicine or accounting.
Reply With Quote
  #5 (permalink)  
Old 08-09-2011, 04:32 PM
Millionaire Member
 
Join Date: Sep 2011
Posts: 275
Hermit is on a distinguished road
Default

Quote:
Originally Posted by Tan--- View Post
I like the way you summarised it, haha!

"So, the typical millionaire in Singapore:

is male,
about 50 years old,
has about US$5 million of financial assets not counting his residence,
likes to invest in property,
became wealthy from either business or inheritance, and
is probably an Indonesian... "
I would say this would be about right. Except that it also applies to Singaporeans.
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


» 30 Recent Threads
Career as Teacher ( 1 2 3... Last Page)
2,423 Replies, 1,480,893 Views
Lawyer Salary ( 1 2 3... Last Page)
4,998 Replies, 2,188,019 Views
Summer Internships 2020 ( 1 2 3)
20 Replies, 676 Views
Compare civil service salary ( 1 2 3... Last Page)
9,140 Replies, 5,284,730 Views
Local Uni Class of 2020 - COVID19... ( 1 2 3... Last Page)
46 Replies, 5,281 Views
MAS : Mid Career Professionals ( 1 2 3... Last Page)
122 Replies, 95,085 Views
Job offer from Apple ( 1 2 3... Last Page)
411 Replies, 71,045 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,699 Replies, 1,013,859 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
1,578 Replies, 1,224,194 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
2,978 Replies, 1,800,750 Views
Chevron COBRA assesment, please... ( 1 2)
18 Replies, 48,844 Views
Marsh Graduate Development Program ( 1 2)
15 Replies, 1,261 Views
How much are you earning per annum? ( 1 2 3... Last Page)
11,868 Replies, 3,647,103 Views
SPF (Direct-Entry Inspector) ( 1 2)
11 Replies, 1,834 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
251 Replies, 75,353 Views
Constituency Manager (People... ( 1 2 3... Last Page)
854 Replies, 429,602 Views
Fresh Grad from local U cant find... ( 1 2 3... Last Page)
40 Replies, 4,016 Views
Job Application with MOE... ( 1 2 3... Last Page)
203 Replies, 197,210 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
878 Replies, 716,756 Views
What are your Job benefits ( 1 2)
14 Replies, 6,911 Views
What course should I undertake?
8 Replies, 3,099 Views
Life as a ICA Senior Officer ( 1 2 3... Last Page)
103 Replies, 121,137 Views
Big 4 firm rescind offers ( 1 2 3... Last Page)
54 Replies, 12,676 Views
Our Poll Results: 45% Fresh... ( 1 2 3)
29 Replies, 15,872 Views
What is the usual salary for...
4 Replies, 1,934 Views
Q: Management Associate at SGX ( 1 2)
16 Replies, 6,223 Views
Insurance Management Associate... ( 1 2 3... Last Page)
30 Replies, 12,251 Views
Career at Keppel
3 Replies, 352 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
663 Replies, 325,830 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 04:55 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2