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TSvvv
post Jan 7 2019, 10:35 AM, updated 6 months ago

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Dear all,

Trust that many sifus here are millionaires.

I hope we can use this thread to share your personal journey to million dollars for learning purpose.
Together we learn and prosper.

1. What age did you attain millionaire status?

2. How did you attain millionaire status? (business, employment, investment etc.)

3. What age do you intend to reach millionaire status (if you are on the way) ?



Cheers everyone.

This post has been edited by vvv: Jan 8 2019, 11:33 AM
55665566
post Jan 7 2019, 10:50 AM

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Talking about millionaire status,
I wonder how Malaysia actually quote people as millionaire?

Is it have asset of RM1000000 or USD$1000000?
HonMun
post Jan 7 2019, 10:52 AM

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You are a millionaire if no debts......haha
mini orchard
post Jan 7 2019, 11:15 AM

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Magnum, Sports Toto and Big Sweep made many people millionaires every year.

Magnum 4d jackpot RM35,000,000.00 is now waiting for winner/s this coming Wed draw. BIG BIG ang pow for CNY.

Good luck to ts.

This post has been edited by mini orchard: Jan 7 2019, 11:35 AM
flight
post Jan 7 2019, 01:01 PM

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I think most people r not going to post here if they are millionaires. Theres probably tons.

fun_feng
post Jan 7 2019, 01:21 PM

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I think a lot of people become millionaire due to the last property boom...


icemanfx
post Jan 7 2019, 01:43 PM

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According to some wealth reports, there are only about 3% of adults in this country have over us$100k net worth.


55665566
post Jan 7 2019, 01:45 PM

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QUOTE(icemanfx @ Jan 7 2019, 01:43 PM)
According to some wealth reports, there are only about 3% of adults in this country have over us$100k net worth.
*
and 100k is not 1mil hmm
blackseed202
post Jan 7 2019, 02:34 PM

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Im 27 and halfway through to 1m. Almost 60-70%. Aiming to achieve by age 30!

But my aim is about 1.5m to be financially free!! According to my calculation ill achieve that by age 37 maybe less if my income increases as i grow older.
AvenueX
post Jan 7 2019, 02:59 PM

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QUOTE(blackseed202 @ Jan 7 2019, 02:34 PM)
Im 27 and halfway through to 1m. Almost 60-70%. Aiming to achieve by age 30!

But my aim is about 1.5m to be financially free!! According to my calculation ill achieve that by age 37 maybe less if my income increases as i grow older.
*
What do you want to do then? Retire? For me personally when I reach my target I'll just work when I feel like it. Its liberating to know that you don't need to work but it is good to keep at it.
flight
post Jan 7 2019, 03:06 PM

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QUOTE(fun_feng @ Jan 7 2019, 01:21 PM)
I think a lot of people become millionaire due to the last property boom...
*
Alot of ppl became bankrupt as well
roy_zu
post Jan 7 2019, 09:20 PM

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To attain millionaire status, (at least for self satisfaction) one must hold liquid cash 1 million (RM or USD whichever).

If talking about net worth, then a lot of people might have already attain that in klang valley
cmk96
post Jan 7 2019, 10:21 PM

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1 million or 999 millions... he/she still a millionaire.

ppl say... 1st million is the hardest... the rest come easily.

BooYa
post Jan 7 2019, 10:38 PM

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QUOTE(cmk96 @ Jan 7 2019, 10:21 PM)
1 million or 999 millions... he/she still a millionaire.

ppl say... 1st million is the hardest... the rest come easily.
*
i think millionaire means 1 million but less than 2 mil. 2 mil or more they call it multi millionaire, no?

This post has been edited by BooYa: Jan 7 2019, 10:40 PM
RyuGW90
post Jan 7 2019, 10:48 PM

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QUOTE(BooYa @ Jan 7 2019, 10:38 PM)
i think millionaire means 1 million but less than 2 mil. 2 mil or more they call it multi millionaire, no?
*
No. Still in millionaire category

cmk96
post Jan 7 2019, 10:50 PM

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QUOTE(BooYa @ Jan 7 2019, 10:38 PM)
i think millionaire means 1 million but less than 2 mil. 2 mil or more they call it multi millionaire, no?
*
Bill gates has 93.9 billions... i do not hear ppl called him multi-billionaire.
mois
post Jan 8 2019, 10:21 AM

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QUOTE(roy_zu @ Jan 7 2019, 09:20 PM)
To attain millionaire status, (at least for self satisfaction) one must hold liquid cash 1 million (RM or USD whichever).

If talking about net worth, then a lot of people might have already attain that in klang valley
*
Networth=Total asset - total liability. Even you have RM1 million condo but outstanding rm700k, basically negative networth.

But yea, liquid cash like ASM, stocks those need to have RM1mil only consider millionaire
roy_zu
post Jan 8 2019, 10:35 AM

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QUOTE(mois @ Jan 8 2019, 10:21 AM)
Networth=Total asset - total liability. Even you have RM1 million condo but outstanding rm700k, basically negative networth.

But yea, liquid cash like ASM, stocks those need to have RM1mil only consider millionaire
*
For those who have a good 5 fig income with at least 10 years of working experience, should already have a quarter mil in KWSP itself. I think reaching a million networth by age of 40 it's a easy mark for many.

Liquid cash on the other hand is a different ball game. It require a lot of mental strength and sacrifice a lot of 'wants' to achieve that.
55665566
post Jan 8 2019, 10:41 AM

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QUOTE(mois @ Jan 8 2019, 10:21 AM)
Networth=Total asset - total liability. Even you have RM1 million condo but outstanding rm700k, basically negative networth.

But yea, liquid cash like ASM, stocks those need to have RM1mil only consider millionaire
*
'millionaire is based on liquid cash in RM?

i thought is usd?
mois
post Jan 8 2019, 11:02 AM

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QUOTE(55665566 @ Jan 8 2019, 10:41 AM)
'millionaire is based on liquid cash in RM?

i thought is usd?
*
Since we are discussing in MY, sure use RM.

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