S$5M- Net Worth of Average SG Millionaire! Do You Believe or Not?

[@user-pm3lp7lq8t]

I'm not surprised - I'm a Singaporean and I think it is possible to reach those numbers if you constantly compound for decades in growth assets such as equities. As the population ages with longer lifespans, there more years for compounding and that should be factored in as well.

[@Shariq_amin1]

If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life

[@TomCruise-j1g]

As a beginner investor, it's essential for you to have a mentor to keep you accountable. George Powell is my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns. ​@KenelmJoseph

[@TomCruise-j1g]

Georgepowl​@KenelmJoseph

[@TomCruise-j1g]

On Tele G

[@AbramEvanson]

I don't even leave comments on social media, but I feel compelled to coming across other beneficiaries of George Powell's prowess. Just wanted to let you know that you're doing a great job George. You have made a difference in my understanding of the trade market.

[@Xamael666]

Problem with all this is it's gonna continually inflate & increase the already high cost of living

[@pangarans]

Have to take into perspective. That’s 1.2T divided by 333K. The 5M per millionaire is also skewed where the top 20% takes most of this wealth as you have family offices, billionaires (think haidilao, Sea, eduardo, Jim,etc) skewing the average number to the high side. Median should be a number that is more realistic to analyse.

[@snooppy88]

i like your positive takeaways, definitely helpful for the young. Cheers!

[@clw2813]

From the UBS report 6:00 inequality increased by 23% compared to16 Feb 2024 budget speech that Income inequality in Singapore has declined to its lowest level in over two decades. Why are there such wildly different conclusions?

[@1m65]

Good question

[@stevenyip2631]

I think the figure is not just based on citizens. The base probably include all residents. PR likely included in the computation.

[@lowboonhong7383]

I fully support you to the Moon.

[@qiuhao4212]

... you already know that the stats is skewed and concentrated at the top. Then why keep using the average of $5m? A simple adjustment is to exclude the top richest Singaporeans and then adjust this average. This adjusted average is SGD 4.12M

[@MS-ub9hb]

According to record, there are 3400 high net worth individuals moved to Singapore in 2023. This skewed the millionaires medium too far to the high end. Not an usual Gaussian curve.

[@1965Singaporean]

5 million also feel poor living in SG😢 we need to work harder.😅

[@Bobby-xd3fl]

Definitely not average @ 5M. Among 333k of them, Some own more than others. So the above analysis may not be credible.

[@Star-008]

I like it that you pretended having $5milllion is a feat when you're clearly in a much higher league 💖

[@pebblebrooks118]

Assuming the ratio of average over median is about 4 times, then the median wealth is about $1.25M. The many top earners are skewing the average upwards.

[@aave865]

Singapore's definition of a millionaire is Total wealth + Asset - Primary Residence - All liabilities.

[@1m65]

That’s different from UBS definition

[@NahbehChow]

the biggest problem for one not creating wealth is mentality n uncontrolled spending. the 20%tile gross pay is 2830pm that 2264 take home.. food is $5 per meal, rent $500pm for a room, transport/mobile $200. that is $1150. a thousand a mth to build wealth

[@adrieltan6089]

The report is so unclear that takes away all credibility....

[@lowboonhong7383]

I fully support you. It better not to post so frequent on Ytube. Show less and talk less. It may affect credibilit......

[@georgegeorge4456]

6.5% is not alot. If u deduct away residental property it is even lesser.

[@stevenchristinesuccess]

Mr loo also one of top millionaire too..

[@1m65]

I wish…

[@Mike-e1n]

@@1m65you are Mr Loo

[@miaoking2271]

5m ya? So most of us just average joes, cannot consider rich indeed

[@Jake82822]

Doctors and dentists form the bulk of the millionaires in Singapore. This is due to their guaranteed employment rate as well as increasing incomes when they are in private practice. I have never seen a doctor/dentist living in HDB, with the exception of the young ones who are still serving their bond to the government. Most live in CCR condos, with a substantial number living in landed properties Most notably, the specialist doctors practicing at mount Elizabeth are close neighbours of each other in their holland village/sixth avenue GCB enclaves.

[@1m65]

So bottom line- become a doctor or marry one

[@royng3259]

Do they take into consideration CPF amount for the millionaire calculations?

[@1m65]

I think they do

[@rossmcdonald991]

Mr Loo, one small flaw in your logic. You have calculated that the median millionaire in Singapore might have 1m SGD. But if you convert this back to USD, they won’t be above the millionaire threshold anymore since it’s in USD..

[@thenobleman4557]

Why USD? U in USA ah?

[@Longtermalwayswins]

Mostly is converted to usd.

[@leealex24]

Does this include property assets?

[@dus5633]

At the millionaires level, my guess is that the multiples between mean and median will be less than that across the entire population. Meaning

[@JJ-iu6sr]

​@dus5633 Once u crossed the millionaire mark, the gap between the lower and upper limit is very wide. Example, assuming person 1 has SGD 2M, person 2 has SGD 100M. That is a factor of 50 already. And their average weath is SGD 51M. Does person 1 has SGD51M? That is the point Mr Loo is putting across.

[@philippelee5720]

5 millions not too much nowadays 😢

[@nigeldcruz1195]

Does the study take into account property owned such as HDB?

[@father88888]

ya, i myself has more than $1 million investible cash at age 45...

[@kelvinyeo2047]

gov recently advocating difference kind of life achievement than the 5c's, and here you are encouraging life achievement of 5M:)

[@lowboonhong7383]

I agreed with your points. He is promoting wealth creation. How many peoples can become millionaire with his Ytube contents?

[@a058289]

There is no conflict is there? Just because I am reaching for 5 Mil, does not mean I need to have the 5 C's. Moreover, if in the end, my retirement fund cannot reach 5 Mil but only reach 2 mil, I'd still be quite happy.

[@kelvinyeo2047]

@@a058289 dont be offended. i am just trying to "remind" everyone that gov is encouraging different kind of achievement now a day:)

[@ocswoodlands]

the adage of you are the average of the 5 pax around you is true. some cannot fathom that the avg millionaire in SG has 5m (i suspect this is for household rather than individuals).... because the people around them are not. on the other hand, people with high net worth also has hnw friends around them...

[@Fr.VeniceLAI]

Average figure of SGD5.0 Million, should not have been used, as it can be very, very misleading. Example : 10 SGeans / persons' wealth: 1. SGD 1,000 million 2. 500 million 3. 2.0 million 4. 1.5 million 5. 1.0 milliom 6. 2.0 milliom 7. 2.0 milliom 8. 2.0.milliom 9. 1.0 million 10. 1.0 million = Total: 1,512.5 million. Average divided 10 = Average Wealth = SGD 151.25 Million (among these 10 persons). Now, clearly using Average Wealth as a measurement would completely skew the statistics and information. Mean is a much better way to describe the wealth of these hypothetical 10 SGeans:- 1.0 / 1.0 / 1.0 / 1.5 / 2.0 / 2.0 / 2.0 / 2.0 / 500 / 1,000. Taking the center figure (s) the Mean shows just 2.0 million whereas the Average is 151.25 million.

[@GodTell7]

What i know is many of this generation age 20-40 some of them got properties from older generation, if older generation work smart could easily have a HDB. So millionaire are common then aim for billionaires 😅

[@PeterLeo-m6w]

Mr Loo, all those stay ur hdb block already instant millionaires, Sg flooded with millionaires!😆😆

[@Twodaae]

HDB value minus the loan... still doesn't hit the $5mil networth avg hahaha...

[@stevenyip2631]

Mr Loo likely in the 10 million to 20 million range. Sorry if I underestimated your wealth, Mr Loo. 😂😂

[@jironghuang4895]

Prob 30-40m

[@stevenyip2631]

@@jironghuang4895 An UHNI...!!

[@jironghuang4895]

@@stevenyip2631 you can back derive the numbers from the amount he said he lost through stock market in 2022. And the asset allocation towards stock. Lol. Yes Mr loo is an inspiration.

[@niuz85]

Hi, is there a Mr loo investing telegram group?

[@nickng-jm1vk]

what is the purpose of importing millionaires into SG while the average sporean are struggling with cost of living with CDC voucher?

[@carrotsak]

😮 I am green with envy. I wanna be Richie rich too.

[@chinkit7]

its meaningless. because interesting facts which means more people will be leaving earth with assets they could have spent and enjoy it.

[@fabianeng8605]

What about medium millionaire ? How much do they have?

[@1m65]

Stated in the video.

[@theseira]

millionaire means nothing these days so many millionaires.

[@anonymouslycute7801]

Does the amount include CPF monies?

[@1m65]

I think so

[@kennySg101]

Mr Loo qualifies 5m, can afford to buy two condos 4 children, about there.

[@1m65]

Maybe Mr Loo BS ones, only have S$50k, may be $500k only. ignore Mr Loo. He is not important at all.

[@kennySg101]

@@1m65 Even two HDB flats add up more than 500k. With HDB flats going at 1m. 300k millionaires is too low a figure.

[@hannahsoo3770]

5M65

[@Sherry-fl3md]

Hi Mr Loo, recently I’m reading Howard Marks’ famous book of “Mastering the Market Cycle” I feel you probably have read this book before and you’re also very good at knowing the market cycle. Could you share more about how you observe and master the market cycle please? Thank you!

[@joeyl9435]

Millionaires entitlement! With or without CPF sum?

[@michaelgohmox]

Ehhhh Cb ur background noise can mute it not

[@woonty9981]

Maybe pull-up by few $999'm type of millionaire 😅

[@bensontan685]

I also got 5 million... in debt..😅

[@choonhockong8215]

Rich will get richer here. Influx of rich taking up residency here. Poor retirees and the sickly poor people here are struggling with the high cost of living, food price, etc. Ching kang kor living here.

[@lowboonhong7383]

Hi Mr Loo. As you said 333k millionaire in Singapore. How many are real Singapore? And you mentioned that you want to teach peoples to be millionaire. How many peoples have money to invest and become millionaire? Probably you are laughing all the way to banks, your Ytube contents is money generating machine.

[@1m65]

The money I get from KZbin is not even enough to pay my tax to IRAS. Miserable income

[@1m65]

I cannot save the world, I can only educate a segment of singapore that fit the profile of novice investors.

[@stevenyip2631]

Mr Loo, you huat ah.....!!!!

[@ricohflex777]

I wish this was true. 5 million rupiah. Or 5 million ringgit. Alright, now I go and buy TOTO. Mr Loo says so, I have to reach 5 million target. The UBS report is utter rubbish. In reality, there are MANY poor people in Singapore. Mr Loo get out of your JB Austin Heights landed house and go into the Singapore heartlands. Unless you are blind, you can see all the poor people around you.

[@Longtermalwayswins]

Arent you also around 5-7m?

[@1m65]

Ha… I am surprised you know my net worth better than I do.

[@tasharry42]

Skewed many many X by influx of higher level wealth n income people being added profusely disproportionately that the sad statistics didn't know hoe to segregate.. so sad stats meaningless and podcast er.... not knowing ? is that correct?

[@88_JJW_88]

if loo has $5m then confirm this news is zhun lah

[@YeeYang-w1m]

Not yet. He only had 1m and 65k now

[@janicetan4626]

singaporeans or singapore residents?

[@michaelgohmox]

Should exclude properties , only liquid assets ya

[@1MW9]

How many of these millionaires are Singapore Citizens?

[@1m65]

333k? A lot of them are Singaporeans for sure

[@1MW9]

@@1m65 hope so

[@lowboonhong7383]

Probably most of them are foreigners.

[@MaxGarmin]

Pretty sure Mr Loo is beyond that 😂！

[@DC-hg1mc]

Buy more Toto or 4D ya..

[@williamlay4236]

Your pyramid does not seem to be accurate. Sum of total number of adults is indicated as ~5m. This is wrong! Singapore does not have 5m adults. According to Sing Stats. Gov, we only have 3.6m citizen, 4.1m resident and 5.9m population. Of the 4.1m residents, only 2.6m age between 20 and 64.

[@1m65]

I think that pyramid is from the report…

[@allisonbrady1364]

Ur loo I don't have have 10k

[@steventay5834]

I don't believe lah

[@jemmeteo]

zhun bo?

[@1m65]

Watch the video and my explanation is inside

[@Mohdat76]

Go batamla. all Singaporean become millionaire

[@acs4410]

😂