As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Tuesday, 17 November 2015

Singapore will be a land of millionaires by 2020, predicts report



Almost 1 in 30 residents will be ultra-wealthy in five years.

Millionaires, or high net worth individuals (HNWIs), will grow at a faster rate in Singapore than in Hong Kong, according to a study by WealthInsight.

Singapore currently has 154,000 HNWIs that collectively hold US$806.3b in net wealth, reflecting a population growth of 17% from the 130,000 millionaires in the country in 2010. By 2020, Singapore HNWIs are expected to number 188,000- roughly 1 millionaire in 30 people. This reflects an 18.3% hike in the next half-decade, versus the expected 15.6% HNWI growth in Hong Kong.


Read? Singapore will be a land of millionaires by 2020, pr
edicts report

6 comments:

  1. how to calculate net worth. Is the property u currently staying considered? if yes, then bit diff maybe!

    ReplyDelete
    Replies
    1. exclude the value of one's designated residential home

      Delete
  2. i think it should be included because when you need it (touch wood) you need it.
    Of course, you won't & shouldn't consider your home as an investible asset.
    But you might have calculated or thought of as a last resort of fallback under circumstances beyond your control.
    And we know for many people it is just so.
    Example the desperate cash strapped businessman who mortgage his home trying his best to save his baby(his company).
    The cancer stricken patient who needs money to seek very expensive doctor's treatment, hoping for a cure or live as normal and as long as possible.
    The no-hope gambler, etc.....

    ReplyDelete
  3. If the residential property is included, the percentage will be much higher, I guess then there will be a millionaire in every 4~5.

    ReplyDelete
  4. i agree.
    That's why Singaporeans are known to be or considered "very rich' (Asset Rich, Cash poor) by SEA neighbours.
    It's like what the saying, "Pu Toa Kwa A Tiot, Chiat Buay Tiot".
    Just go tour Taiwan and you will find most of the Taiwanese think Singaporeans are quite well off if not very well off.
    Ha! Ha!
    Has our G's policies something to do with it?

    ReplyDelete

Related Posts with Thumbnails