S'pore's millionaire club, are you in it?
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Why USD1m and not SGD1m hah? Maybe SGD1m got more household.
Cannot read the full article. 1 in 10 household, maybe includes non Singaporeans. If only true blood Singaporeans, maybe less.
Why not properties? Fully paid properties are assets too, just that it is not as liquid as cash. Of course properties which are still servicing loans are assets of the bank, the people paying the loan is the slave of the bank. So if you are still servicing loans (any type), you are not working for the company who employs you, YOU ARE WORKING FOR THE BANK! -
is it a club for those who owe their banks more than $1M ?
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JonC:
I believe it includes investment properties (net of debt), but not the primary residence. US$1m is not a big sum these days. Most professionals should be able to achieve that before they're 40. US$1m used to be the minimum net worth to qualify for private banking services. Now, most private banks are looking at at least US$5m.Why USD1m and not SGD1m hah? Maybe SGD1m got more household.
Cannot read the full article. 1 in 10 household, maybe includes non Singaporeans. If only true blood Singaporeans, maybe less.
Why not properties? Fully paid properties are assets too, just that it is not as liquid as cash. Of course properties which are still servicing loans are assets of the bank, the people paying the loan is the slave of the bank. So if you are still servicing loans (any type), you are not working for the company who employs you, YOU ARE WORKING FOR THE BANK! -
Me way below the club.... :sad:
But doubt it include property. Top 10% population like bankers, lawyers, top mgmt had a salary of 10K+ per month, excluding bonuses. If roughing take 20K per year, 6 years millionaire club in earnings and 10 years nett cash if save 60% income...... Even if 10 years not enough, 20 years? And all these people not even age 50....
Very possible..... :frustrated: -
dicky:
Me way below the club.... :sad:
But doubt it include property. Top 10% population like bankers, lawyers, top mgmt had a salary of 10K+ per month, excluding bonuses. If roughing take 20K per year, 6 years millionaire club in earnings and 10 years nett cash if save 60% income...... Even if 10 years not enough, 20 years? And all these people not even age 50....
Very possible..... :frustrated:
Top lawyers and bankers earn way way more than $10k a month !! -
I'm in the wrong line. :sad:
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aiyoh, 人比人，气死人。
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UncleLim:
Top lawyers and bankers earn way way more than $10k a month !!
Actually $10k is not alot nowadays. The new norm is $20k and above. -
MMM:
that's right. esp if partners and depending what kind of partners in what firm. $50k also have. sigh. young that time should have studied hard and go law.UncleLim:
Top lawyers and bankers earn way way more than $10k a month !!
Actually $10k is not alot nowadays. The new norm is $20k and above.
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ghostz:
that's right. esp if partners and depending what kind of partners in what firm. $50k also have. sigh. young that time should have studied hard and go law. :([/quote]since you have kids, you can still be in lawMMM:
[quote=\"UncleLim\"] Top lawyers and bankers earn way way more than $10k a month !!
Actually $10k is not alot nowadays. The new norm is $20k and above.
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