I'd say millionaire is subjective. To me, liquidity is what matters. If you buy a RM1mil property, being able to pay the 10% doesn't make that person a millionaire.

Imagine having a million dollar home but still paying installment. Then having for example, RM200k savings/FD/funds etc only. Is that person a millionaire?

Not by my definition .. at least that's what I think.

I guess bro Soros was referring to those who owned 5 to 10, or maybe more than 10 properties. He himself already owned > 10 properties.

Millionaire definition is simple. Networth. Asset - Liabilities > RM1mil.

For my case, I put down RM700k downpayment for my Beethoven, as i already own more than 2 properties before invest in Cyber.

This post has been edited by noblebaby: Jul 1 2013, 04:05 PM

correct!

The currency should be in USD

This post has been edited by noblebaby: Jul 1 2013, 04:07 PM

My statement was more of a personal opinion

To me, asset doesn't even count if you only have 1 asset. If you stay in a RM1mil property with no liquidity, your property will not bring you anything except shelter. When you need to money, you can't possibly sell your ONLY home right? So, liquidity which you can have access anytime is critical.

Likewise for properties. You can have multiple properties, aside from the one you are staying. As long as you sell them all and can have over RM1 mil after deducting loan redemption, then I'd call you a millionaire. As per earlier example, you can buy 3 properties of RM1 mil each, making downpayments of RM200k (20%) each. Your worth is RM600k, not RM3mil.

Ok, ok .. just expressing my thoughts on what a millionaire means to me. So, having said that, people are getting more and more capable these days. I truly hope CBJ will flourish and fulfill the hopes of us early birds.

Out of topic.

Money is not everything, being know how to treasure life, people whom u love, helping people who need...

Life has many important things than money, u will know if u ever fall.

Age: 28
Staying Location: Putrajaya
Working Location: KLIA
Profession: Airfreight indusrty
Project: Cristal Residence
Purpose: Own stay

To those who just join the working force, money will be the top of the priority. Then when they start to age, have family, then the importance of money starts to go down the order. The older one gets, the more he/she will treasure life....

People will spend their time very differently if they know that their days are numbered. Imagine if you only have 100 days left. Interesting eh?

Age: 28
Staying Location: Old Klang Road
Working Location: KLCC
Profession: Software/IT
Project: Solstice @ Pangaea OSK
Purpose: Investment

Age: 33
Staying Location: Puchong
Working Location: Cyberjaya
Profession: IT
Project: Cybersquare
Purpose: Investment

+1

Age: 29
Staying Location: PJ
Working Location: KLCC/Mid Valley
Profession: Business / IT Consultant
Project: Cristal Residence
Purpose: Investment

Age: 3X
Staying Location: puchong
Working Location: Puchong
Profession: self employed
Project: Cristal Residence
Purpose: own stay

Age: /edited for p&c reason
Staying Location: Kepong
Working Location: Cyberjaya
Profession: Engineering
Project: Serin Residency
Purpose: Investment

This post has been edited by greenstuff: Jul 16 2013, 09:34 PM

Hihi ~ dai kor,
I saw there is some purple pink highlight on the 'age' in spreedsheet, what is that mean ar?

People who never post exact age, I roughly "guess" their age loh.

hmm, i post jor ah. 28.
BTW, my husband is +1 than my age

To appreciate all of u, I compiled a list of our project.

If u all post more photos, we can do facebook!


This post has been edited by xyyap: Jul 13 2013, 11:04 AM

Thanks Yap!