Welcome Guest ( Log In | Register )


5 Pages < 1 2 3 4 5 >Bottom
Bump Topic Add Reply RSS Feed New Topic New Poll

Outline · [ Standard ] · Linear+

> Millionaires Club

icemanfx
post Jan 9 2019, 11:21 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 8,679

Joined: Jul 2012


QUOTE(DigitalTech @ Jan 9 2019, 10:40 PM)
Net worth = Total Asset - Total Liabilities.

Millionaire = Net worth = >RM1m

Cash millionaire = RM1m liquid cash in the bank without liabilities.
*
Almost everyone could define his own criteria to syok sendiri, it is more relevant to recognize by private banks;

net worth - primary residence > US$1m invest-able assets

aspartame
post Jan 10 2019, 12:41 AM

Regular
******
Group: Senior Member
Posts: 1,921

Joined: Feb 2015
QUOTE(icemanfx @ Jan 9 2019, 11:21 PM)
Almost everyone could define his own criteria to syok sendiri, it is more relevant to recognize by private banks;

net worth - primary residence > US$1m invest-able assets
*
Nonsense...private bank's definition is to suit their own needs...that is why they take out primary residence because those assets are of no "revenue generating potential" to them.

Net worth always include whatever assets you have less liabilities. Means include primary residence lah. If I stay RM10mil house and have 200k FD, of course I am richer than you having RM1mil FD but stay 300k condo right? Common sense...
icemanfx
post Jan 10 2019, 02:27 AM

Look at all my stars!!
*******
Group: Senior Member
Posts: 8,679

Joined: Jul 2012


QUOTE(aspartame @ Jan 10 2019, 12:41 AM)
Nonsense...private bank's definition is to suit their own needs...that is why they take out primary residence because those assets are of no "revenue generating potential" to them.

Net worth always include whatever assets you have less liabilities. Means include primary residence lah. If I stay RM10mil house and have 200k FD, of course I am richer than you having RM1mil FD but stay 300k condo right? Common sense...
*
No doubt, banks defined criteria for their business objective, net worth include all assets and $10.2m is richer than $1.3m. But what is the likelihood for someone to stay RM 10m house have RM 200k fd vs stay RM 300k condo have RM 1m fd?

Everyone could syok sendiri but only few have meaningful recgonition.

BTW, RM 1m fd couldn't become private bank client.

This post has been edited by icemanfx: Jan 10 2019, 07:39 AM
Cookie101
post Jan 10 2019, 10:10 AM

On my way
****
Group: Senior Member
Posts: 537

Joined: Jul 2016
For a moment thought there is MDC in malaysia too.

Or there is one which I do not know?


BooYa
post Jan 10 2019, 11:01 AM

Getting Started
**
Group: Junior Member
Posts: 86

Joined: Aug 2011


QUOTE(icemanfx @ Jan 10 2019, 02:27 AM)
BTW, RM 1m fd couldn't become private bank client.
*
how much for private banking? RM 4M?

This post has been edited by BooYa: Jan 10 2019, 11:02 AM
ywliang96
post Jan 12 2019, 12:22 AM

On my way
****
Group: Senior Member
Posts: 554

Joined: Oct 2013
From: Midgar


Have roughly 100k this year (Age 23) from online business + full time job + FD + Fixed Price Funds

Hopefully by 7 years I’ll be able to be like you guys.

This post has been edited by ywliang96: Jan 12 2019, 12:26 AM
blackseed202
post Jan 12 2019, 04:33 PM

Getting Started
**
Group: Junior Member
Posts: 119

Joined: Mar 2016
QUOTE(johnwick7728 @ Jan 12 2019, 03:59 PM)
Rm 3m
*
And the fees?
BooYa
post Jan 12 2019, 05:01 PM

Getting Started
**
Group: Junior Member
Posts: 86

Joined: Aug 2011


What fees? lol.
Havoc Knightmare
post Jan 12 2019, 05:07 PM

Invictus
*****
Group: Senior Member
Posts: 877

Joined: Feb 2006
From: Kuala Lumpur


QUOTE(blackseed202 @ Jan 12 2019, 04:33 PM)
And the fees?
*
There are no outright/upfront fees. Just a markup when they sell their investment products to you.
privatequity
post Jan 12 2019, 06:31 PM

New Member
*
Group: Junior Member
Posts: 44

Joined: Jul 2015
become private banking client requires RM3M FD? LOL. Maybank PB only requires one to put RM250K in FD/saving a/c to b qualified.
nanan75
post Jan 12 2019, 06:47 PM

Casual
***
Group: Junior Member
Posts: 371

Joined: Apr 2010


1 mil in epf can consider?
MUM
post Jan 12 2019, 07:11 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 3,312

Joined: Mar 2015
QUOTE(nanan75 @ Jan 12 2019, 06:47 PM)
1 mil in epf can consider?
*
if you are referring to the Maybank Private Banking requirements.....
I googled and found this.....
".......required to maintain a minimum of RM250,000 in Investable Assets (Deposits & Investments) or RM1,000,000 in Total Financial Assets (Deposits, Investments & Financing) with Maybank upon account opening. "

https://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts

thus unless the 1Mil in EPF is deposited/invested with them.....
icemanfx
post Jan 12 2019, 08:22 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 8,679

Joined: Jul 2012


QUOTE(MUM @ Jan 12 2019, 07:11 PM)
if you are referring to the Maybank Private Banking requirements.....
I googled and found this.....
".......required to maintain a minimum of RM250,000 in Investable Assets (Deposits & Investments) or RM1,000,000 in Total Financial Assets (Deposits, Investments & Financing) with Maybank upon account opening. "

https://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts

thus unless the 1Mil in EPF is deposited/invested with them.....
*
Maybank Private Wealth is designed to create wealth opportunities for Clients with USD1 million in Investable Assets with Maybank.

https://www.maybankprivatewealth.com/my/en/aboutus.html

Mr.Weezy
post Jan 12 2019, 08:36 PM

无处安放的魅力
*****
Group: Senior Member
Posts: 721

Joined: Apr 2016
From: Shah Alam




millions in debt count? brows.gif
yklooi
post Jan 12 2019, 08:44 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 5,125

Joined: Apr 2013


QUOTE(Mr.Weezy @ Jan 12 2019, 08:36 PM)
millions in debt count? brows.gif
*
I guess it is ok n counted.....
I got a friend that has debt of few millions....but he also has assets of few times that debt amount
BooYa
post Jan 12 2019, 10:05 PM

Getting Started
**
Group: Junior Member
Posts: 86

Joined: Aug 2011


As far as I know Maybank premier is min 250k, we'll if u wanna be private then minimum 4mil. Correct me if I'm wrong

This post has been edited by BooYa: Jan 12 2019, 10:06 PM
howszat
post Jan 12 2019, 11:08 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 2,464

Joined: Sep 2007
QUOTE(Mr.Weezy @ Jan 12 2019, 08:36 PM)
millions in debt count? brows.gif
*

If someone has millions in debt, and still can post here without being hounded by ahlongs, that could be a good sign. It could mean that you are using leverage effectively.

But this thread has strayed from the original post - RM1 million club.

While the RM1mil amount may not mean much when compared to USD and such like, it is still a meaningful benchmark for Malaysians in general.

This post has been edited by howszat: Jan 12 2019, 11:15 PM
Mr.Weezy
post Jan 12 2019, 11:10 PM

无处安放的魅力
*****
Group: Senior Member
Posts: 721

Joined: Apr 2016
From: Shah Alam




QUOTE(howszat @ Jan 12 2019, 11:08 PM)
If someone has millions in debt, and still can post here without being hounded by ahlongs, that could be a good sign.

It could mean that you are using leverage effectively.
*
i small potato only, my mentor total debt including wife's name around 72mil last december
howszat
post Jan 12 2019, 11:18 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 2,464

Joined: Sep 2007
QUOTE(Mr.Weezy @ Jan 12 2019, 11:10 PM)
i small potato only, my mentor total debt including wife's name around 72mil last december
*

That doesn't mean anything meaningful.

The measure should be about net-worth, not how much you owe.

icemanfx
post Jan 13 2019, 12:09 AM

Look at all my stars!!
*******
Group: Senior Member
Posts: 8,679

Joined: Jul 2012


QUOTE(Mr.Weezy @ Jan 12 2019, 11:10 PM)
i small potato only, my mentor total debt including wife's name around 72mil last december
*
How much bank interest are they serving every month?



5 Pages < 1 2 3 4 5 >Top


Bump Topic Add ReplyOptions New Topic
 

Switch to:
| Lo-Fi Version
0.0848sec    7.84    6 queries    GZIP Disabled
Time is now: 24th March 2019 - 05:35 PM