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Thread: 39,000 millionaires!

  1. #16
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    Quote Originally Posted by Jennylim View Post
    So few? I thought we have more than 39000 bungalows in the cities.

    http://thestar.com.my/news/story.asp...872&sec=nation
    sure boh?..... but i do know for sure there is one mega millionaire malaysian living in perth now
    A compassionate heart is a clear and cool place

  2. #17
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    Quote Originally Posted by shthang View Post
    sure boh?..... but i do know for sure there is one mega millionaire malaysian living in perth now
    The sleepy one who married the maid?

  3. #18
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    Quote Originally Posted by kuma View Post

    Singapore Could Be The World's Richest Country By 2050 - compiled by Citibank, and property consultancy Knight Frank.

    This stydy is based orn 'people with more than $25 million in investable assets' and per capita

    GDP at purchasing power parity...
    Wow, 2050 !!!

    Wonder half a century old folk like me should care/concern what happens 40 years from now..

    Let me dig out some write-up/articles from a bank's eye candy before I comment whether it should be 39000 or 3.9 million of millionaires in this blessed land..

    Btw, money is only useful when you SPEND it..

    So, please spend the money when the sun still shine instead of thinking of what happens 40 years later..

  4. #19
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    Quote Originally Posted by Rhiga View Post
    Btw, money is only useful when you SPEND it..

    ..
    I've been hearing this a lot over the last 1 year! The best thing is it comes from my better half! So ,I am spending like ##### a month! Very useful indeed!

  5. #20
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    The 80/20 formula is best - spend 80% of what you have and keep 20%... or spend on 20% and borrow the 80% haha! But Rhiga is right, money is useful only if you spend it... money makes the world go round!

    I am a believer now as I cross the mid-century mark coz I see so many of my friends kicked the damn bucket after filling up their EPF forms for complete withdrawal... never seen Niagara Falls despite having it as his smartphone wallpaper for the past 1 year... got sound effect of the falling water of Niagara summore... spend!

  6. #21
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    I think the 39,000 figure is correct..

    But the actual numbers is difficult to derive because a millionaire's net worth includes all the investable assets

    Fyi, investable assets include property (excluding the owner-occupant property).

    I think this is the reason why there is higher number of USD millionaires in country like Singapore - the strong SGD and the higher price of property when the Singaporeans have more than one property.

    http://en.wikipedia.org/wiki/High-net-worth_individual


    ps. As of 2011, there are about 12,000 epf members with more than RM1million in their epf account..

  7. #22
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    Quote Originally Posted by Rhiga View Post
    I think the 39,000 figure is correct..

    ps. As of 2011, there are about 12,000 epf members with more than RM1million in their epf account..
    Kind of small if you include businessmen. I guess most businessmen don't contribute to EPF that much. I heard someone driving luxury cars and having a nice bungalow in one of the best township in Klang valley only draw less than 5K salary.

  8. #23
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    Quote Originally Posted by SiangMalam View Post
    I am a believer now as I cross the mid-century mark coz I see so many of my friends kicked the damn bucket after filling up their EPF forms for complete withdrawal... never seen Niagara Falls despite having it as his smartphone wallpaper for the past 1 year... got sound effect of the falling water of Niagara summore... spend!
    Live like there is no tomorrow!
    not to the full right extreme but more from a enjoyment mindset.

  9. #24
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    Quote Originally Posted by SiangMalam View Post
    The 80/20 formula is best - spend 80% of what you have and keep 20%... or spend on 20% and borrow the 80% haha! But Rhiga is right, money is useful only if you spend it... money makes the world go round!

    I am a believer now as I cross the mid-century mark coz I see so many of my friends kicked the damn bucket after filling up their EPF forms for complete withdrawal... never seen Niagara Falls despite having it as his smartphone wallpaper for the past 1 year... got sound effect of the falling water of Niagara summore... spend!
    Eat more crabs, prawns, siew yoke, etc get high cholesterol and die earlier but happier.

  10. #25
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    Quote Originally Posted by CS Chua View Post
    Eat more crabs, prawns, siew yoke, etc get high cholesterol and die earlier but happier.
    or CURRYMEE daily for breakfast, lunch and dinner will also do the trick and CHEAPER and TASTIER some more !!
    Everyday is a good day for GOOD FOOD and a GOOD LAUGH

  11. #26
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    Buying a good car....

    Quote Originally Posted by currymee View Post
    or CURRYMEE daily for breakfast, lunch and dinner will also do the trick and CHEAPER and TASTIER some more !!
    I love dim sum so I should have more dim sum. Why keep money in the bank?

    I do subscribe to this idea of spending though because I keep thinking why should I leave all my money to my children? They will probably take it and buy a new Camry. So, why don't I buy the new Camry for myself? 5 years ago, I told my wife that we should start loosening our purse. Not dramatically but more willingly to spend. We have grown up and managed our marriage based on frugality and savings. Eat more hawker food than restaurant food. But now the children are on their own, why bother living this type of life? So, a few more things to buy this year:

    1. A 55 inch LED TV
    2. A new tablet for my wife
    3. A new smart phone for me
    4. Renovate kitchen
    5. Landscape garden
    6. A 7-day holiday in Krabi

    I love being 50++ years old.

  12. #27
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    Since the discussions deviated to buying cars, I have moved the posts to "Buying a continental car"..

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