Last edited by Sion; 30th June 2007 at 12:31 AM.
the 66660 millionaires figure is quite true.
given that 10 in 1000 is a millionaire in singapore and using a population of 4.5 million, that means there is abt 45000 millionaire..
the current jul 07 population is 4,553,009 , with 66660 millionaires,
that means 14.6 in 1000 is a millionaire!
a growth of 4 people per thousand of millionaire in approx. a year !
or is toto having higher frequency of big draws thus contributing to more rich ppl?
09 Oct 09 officially marks the date I become a canon convert.
They are taking net worth into consideration, meaning it includes property, and not just cash, stocks or financial assets. Of course there will be many millionaires if you count it that way because Singapore properties and cars are expensive. Everyone is in debt trying to pay those off. IMO, it is just a report to get attention and make Singaporeans feel good. The actual number of Singaporeans having $1mil in cash assets will be much much lesser. Also, the report didn't mention anything about 666600 "Singaporeans"
Students owning L lenses has nothing to do with millionaires. L lens is not worth a million dollars. Anyone can work as a waiter during school holidays and splurge on one.
Last edited by Silence Sky; 30th June 2007 at 11:23 AM.
Official retirement age has rasied to 65 years old. Not official yet but confirmed to be official.
Minimum Sum in CPF to be rasied to 120k.
Why all these moves??
Publish the number of people who cannot meet the minimum sum.
Then the picture is complete.
The supposed move is to make sure pple got money to last longer. They just dont want to have to deal with pple who run out of CPF and then go to welfare assistance.
The problem is that you deprive a thirsty person of water so that you can give him water later....
All these are just patching moves, the root problem is there. high costs of everything etc.
Well Singapore readers ARE stupid.
Look at the first two pages of this post, almost everyone is believing the report!!
The people who benefited from recent en-bloc sales are just a handful. The newspapers make big news out of it, and people begin to think we have millionaires everywhere.
I'm afraid not, if not you won't see these sort of patchwork "solutions".