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> Millionaires Club

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aspartame
post Jan 8 2019, 11:04 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
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Huh? Condo 1 mil outstanding loan 700k, how is it negative net worth?

Btw, net worth includes all kinds of assets less liabilities.. not only cash, asm etc

This post has been edited by aspartame: Jan 8 2019, 11:06 AM
aspartame
post Jan 8 2019, 11:05 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?
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Are u staying in US?
mini orchard
post Jan 8 2019, 11:06 AM

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QUOTE(mois @ Jan 8 2019, 11:02 AM)
Since we are discussing in MY, sure use RM.
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+1

Unless shifting the money to US.

For feel good .... shift to Indon.
55665566
post Jan 8 2019, 11:08 AM

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QUOTE(mois @ Jan 8 2019, 11:02 AM)
Since we are discussing in MY, sure use RM.
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QUOTE(aspartame @ Jan 8 2019, 11:05 AM)
Are u staying in US?
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QUOTE(mini orchard @ Jan 8 2019, 11:06 AM)
+1

Unless shifting the money to US.

For feel good .... shift to Indon.
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Yes thats the thing. do you mean that anyone in indo/zbw is millionaire?
i thought they have a standard to calculate nettworth base on standard currency (USD$)

Havoc Knightmare
post Jan 8 2019, 11:10 AM

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My networth exceeds RM1mil though my liquid networth of stocks and cash is RM700k. I crossed the level 2 years ago at 28 years old when I made good money trading options at the height of the US bull run. There were a few months where I made USD 20k a month consecutively. I've quit trading options early last year as the market was showing signs of peaking. Currently I'm just contented collecting 7-8% of dividends in Singapore and Hong Kong in REITs and stocks. My longer term goal is to bring my networth to USD1mil by 40. I do not intend to retire early, but I project a 5% per annum return on USD1mil will provide a very comfortable boost to my lifestyle.

This post has been edited by Havoc Knightmare: Jan 8 2019, 11:12 AM
aspartame
post Jan 8 2019, 11:15 AM

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QUOTE(55665566 @ Jan 8 2019, 11:08 AM)
Yes thats the thing. do you mean that anyone in indo/zbw is millionaire?
i thought they have a standard to calculate nettworth base on standard currency (USD$)
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If u stay in indo, Japan or Korea etc, you will have your own yardstick to measure richness ... like 100mil rupiah or whatever ..

If u strike toto 500k, your Fren will not ask if it is is usd .. if you buy a house 1.5 mil , yr Fren will not ask rm or usd... lol.. we are Malaysians, of course we talk in rm lah..
mini orchard
post Jan 8 2019, 11:22 AM

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I am worth RM1m in Msia.

Why bother how much I am worth in US when I am using the money here.

mini orchard
post Jan 8 2019, 11:29 AM

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QUOTE(55665566 @ Jan 8 2019, 11:08 AM)
Yes thats the thing. do you mean that anyone in indo/zbw is millionaire?
i thought they have a standard to calculate nettworth base on standard currency (USD$)
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As long is six zeros, is a million.

And you can literally say all Indons are millionaires. The topic is not about purchasing power.
TSvvv
post Jan 8 2019, 11:32 AM

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QUOTE(Havoc Knightmare @ Jan 8 2019, 11:10 AM)
My networth exceeds RM1mil though my liquid networth of stocks and cash is RM700k. I crossed the level 2 years ago at 28 years old when I made good money trading options at the height of the US bull run. There were a few months where I made USD 20k a month consecutively. I've quit trading options early last year as the market was showing signs of peaking. Currently I'm just contented collecting 7-8% of dividends in Singapore and Hong Kong in REITs and stocks. My longer term goal is to bring my networth to USD1mil by 40. I do not intend to retire early, but I project a 5% per annum return on USD1mil will provide a very comfortable boost to my lifestyle.
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well done bro.

active income
+ passive income generated from USD1mil (assuming 5% return, would be a cool $50k per year)

I will keep working too cos retirement is too boring for me
smile.gif
mois
post Jan 8 2019, 12:04 PM

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QUOTE(aspartame @ Jan 8 2019, 11:04 AM)
Huh? Condo 1 mil outstanding loan 700k, how is it negative net worth?

Btw, net worth includes all kinds of assets less liabilities.. not only cash, asm etc
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Opps my bad. Rm1m-700k= 300k net worth.

flight
post Jan 8 2019, 02:51 PM

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QUOTE(mini orchard @ Jan 8 2019, 11:22 AM)
I am worth RM1m in Msia.

Why bother how much I am worth in US when I am using the money here.
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U go overseas u see how little rm1million is.

Go out fancy dinner per head is rm1.5k. Uber 2km is rm50. Standard meal is rm50 per meal per person.

Eat one big snow white crab, 1 kg rm550. 1 crab 5 kg, rm2.6k for 1 dish.
icemanfx
post Jan 8 2019, 03:06 PM

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Many things are relative; those live in coconut shell will find the bestest within coconut shell.

mini orchard
post Jan 8 2019, 04:00 PM

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QUOTE(flight @ Jan 8 2019, 02:51 PM)
U go overseas u see how little rm1million is.

Go out fancy dinner per head is rm1.5k. Uber 2km is rm50. Standard meal is rm50 per meal per person.

Eat one big snow white crab, 1 kg rm550. 1 crab 5 kg, rm2.6k for 1 dish.
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The topic for discussion is NOT how much our 1m is worth in foreign currencies, NOT how much snow white crab, uber or std meal.

The topic for discussion is NOT bench marking our 1m in usd because we are not comparing with trump or gates.

The topic for discussion is NOT whether you live in shell, ocean, tree or land.

The topic IS in local context...

how we are millionaire now and how was it achieved or how do you intend to achieve it.

Please open another new topic and I will give my input.
flight
post Jan 8 2019, 04:58 PM

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QUOTE(mini orchard @ Jan 8 2019, 04:00 PM)
The topic for discussion is NOT how much our 1m is worth in foreign currencies, NOT how much snow white crab, uber or std meal.

The topic for discussion is NOT bench marking our 1m in usd because we are not comparing with trump or gates.

The topic for discussion is NOT whether you live in shell, ocean, tree or land.

The topic IS in local context...

how we are millionaire now and how was it achieved or how do you intend to achieve it.

Please open another new topic and I will give my input.
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I made my million investing in the stock market. By 30 i was a millionaire, i am 31 now. Worth about rm1.5m and looking for opportunities.
mini orchard
post Jan 8 2019, 05:18 PM

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QUOTE(flight @ Jan 8 2019, 04:58 PM)
I made my million investing in the stock market. By 30 i was a millionaire, i am 31 now. Worth about rm1.5m and looking for opportunities.
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I am happy for you that you have six zeros.

Keep it up.
hurtnet
post Jan 8 2019, 05:29 PM

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im 33 got cash less then 50k, but my parents left me a lot of property (3 houses, and few other land title) easily worth 4-5m in RM. 1 of the land my dad left is shared by 8 person gonna sell very soon, got company offered 18m but my uncle wanted 20 that time so not sold off yet. i kinda plan to sell everything n share with my 2 sister abit and moved to other country. now im stuck here coz i wanna take care of my mom as i dont think she wanna leave. monthly commitment very low just electricity n water bills n our food, no loan. i do a very easy job no stress can sleep and earn about 1.8k a month. house very hard to sell also unless i go find broker.
mini orchard
post Jan 8 2019, 06:36 PM

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QUOTE(hurtnet @ Jan 8 2019, 05:29 PM)
im 33 got cash less then 50k, but my parents left me a lot of property (3 houses, and few other land title) easily worth 4-5m in RM. 1 of the land my dad left is shared by 8 person gonna sell very soon, got company offered 18m but my uncle wanted 20 that time so not sold off yet. i kinda plan to sell everything n share with my 2 sister abit and moved to other country. now im stuck here coz i wanna take care of my mom as i dont think she wanna leave. monthly commitment very low just electricity n water bills n our food, no loan. i do a very easy job no stress can sleep and earn about 1.8k a month. house very hard to sell also unless i go find broker.
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Lucky you .. born to the lucky house.

Hope you can double it with some good investments.
mois
post Jan 8 2019, 08:55 PM

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QUOTE(hurtnet @ Jan 8 2019, 05:29 PM)
im 33 got cash less then 50k, but my parents left me a lot of property (3 houses, and few other land title) easily worth 4-5m in RM. 1 of the land my dad left is shared by 8 person gonna sell very soon, got company offered 18m but my uncle wanted 20 that time so not sold off yet. i kinda plan to sell everything n share with my 2 sister abit and moved to other country. now im stuck here coz i wanna take care of my mom as i dont think she wanna leave. monthly commitment very low just electricity n water bills n our food, no loan. i do a very easy job no stress can sleep and earn about 1.8k a month. house very hard to sell also unless i go find broker.
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4-5mil if you invest in low risk investment 6% can live a very comfortable life in Malaysia. But if you dont like it here then no choice.
prince_mk
post Jan 9 2019, 08:13 PM

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For me...mid 30th..still half way to achieve the 1st M.

Long way to go.

How abt u guys ?
DigitalTech
post Jan 9 2019, 10:40 PM

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Net worth = Total Asset - Total Liabilities.

Millionaire = Net worth = >RM1m

Cash millionaire = RM1m liquid cash in the bank without liabilities.



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