Husband (H) and wife (W)
Age :39
Staying : Cheras
Working : Puchong(H) / KL(W)
Profession : Construction(H) / Media(W)
Project : Hyve
Purpose : Investment/Weekend stay (if possible)

Love the current serenity of Cyberjaya and it's infrastructure.

This post has been edited by matthewctj: Jun 28 2013, 07:43 PM

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.

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.