And 8.5% of Singapore's population are millionaires...and here we are trying to figure out on how to get our first million... (Now, do you think it is difficult to be a millionaire?)
By the way, to get the full story, you can go here..
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Thursday, September 17, 2009
Millionaires Around The World
My, my... would you believe that in The United States alone, you will find 3.9 million millionaires, the highest population on the globe.
And 8.5% of Singapore's population are millionaires...and here we are trying to figure out on how to get our first million... (Now, do you think it is difficult to be a millionaire?)
By the way, to get the full story, you can go here..
And 8.5% of Singapore's population are millionaires...and here we are trying to figure out on how to get our first million... (Now, do you think it is difficult to be a millionaire?)
By the way, to get the full story, you can go here..
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2 comments:
It's not difficult at all. All it takes is:
1.Time - enough time to allow savings to accumulate and returns to compund
2. Discipline - to stay the course, live within your means and save a sensible portion of your income
3. Risk taking - a willingness to take at least some risks with your money
A little bit of luck would also help as would living in a country which does not have have punitive rates of taxation - but the absence of luck or the presence of high tax rates will not stop someone who is deterimined to get there.
3.
Well said, traineeinvestor..:)
However, most youngsters today (the ones that I come across, at least) will tell you that they want to be a millionaire too, but
1. Not willing to wait for a long time and
2. Not willing to sacrifice and stay disciplined.. :(
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