Showing posts with label millionaire calculator. Show all posts
Showing posts with label millionaire calculator. Show all posts

Tuesday 25 October 2011

Twice as many millionaires in Malaysia over last 18 months


Tuesday October 25, 2011

PETALING JAYA: The number of millionaires has almost doubled in Malaysia over the last 18 months, the Wall Street Journal (WSJ) reported.
Citing a report released this week by international financial firm Credit Suisse GroupWSJ wrote that since early 2010, Malaysia added 19,000 new millionaires, bringing its total to 39,000.
Comparatively, the number in Indonesia increased by 52,000 to 112,000, while the number of Singaporeans worth over US$1mil (RM3.15mil) is 183,000, triple what it was a year ago.
The growth spurt of the nouveau riche has been attributed to the weakening US dollar and stingy pockets.
Compared with the Credit Suisse numbers from early last year, these three countries alone have produced close to 190,000 new millionaires since the beginning of 2010.
However, this figure still fell short of the 212,000 new millionaires in China.
“Much of the rise is just a reflection of the weakening dollar, which makes the Singapore dollar- and rupiah-denominated riches look more impressive when translated into US dollars,” WSJ reported.
“Otherwise, it can be attributed to growing savings, stock and property prices.”
Credit Suisse defines wealth as a person's financial and real estate assets minus their debt.
(Networth = Financial Asset + Real Estate Asset - Debt)
The report also said that the average Singaporean was wealthier in comparison to the rest of the world, with the average household wealth at US$285,000 (RM897,000).
This makes them the fifth wealthiest people in the world after Switzerland, Australia, Norway and France.
Average household wealth in Indonesia, on the other hand, hovered at only around US$12,000 (RM37,771).
“Strong currencies, rising property prices, climbing commodity prices and healthy stock markets have helped the region but the real secret to Southeast Asia's success may be how stingy money makers are here,”WSJ noted.
“Average household debt, which offsets much of savings and investments in Western countries, is very low in the region.
“It is only 13% of total assets in Singapore and 2.5% of total assets in Indonesia.”

Sunday 19 April 2009

What will it take to become a multi-millionaire?

What will it take to become a millionaire?


Interesting calculator to help set one's goal.
http://partners.leadfusion.com/tools/motleyfool/savings01/tool.fcs

INPUT

Current age


Desired age to be a millionaire


Amount you have invested
$

Amount you can save monthly
$

Your savings rate
%

Your federal tax rate
%

Your state tax rate
%

Inflation rate
%



RESULTS

If you invest $50,000 now and $500 monthly at 6.00%, you'll be a millionaire in 44 years at age 81.

To be a millionaire at age 65, you'll need to:


Increase the amount you invest now to $218,691 , or
Increase your monthly investment to $1,344 , or
Achieve a rate of return of 11.17%.

When adjusted for inflation, $1 million in 44 years would be equivalent to $277,174 today.


GRAPHS



Monday 12 January 2009

How long will it take to become a millionaire?

How long will it take to become a millionaire?

(Comment: Make a $1,000 per day for 1000 days. 1000 x 1000 = 1 million)


The movie Slumdog Millionaire will reignite our dreams to become super-rich but the reality is that few of us will be one question away from winning the quiz Who Wants to be a Millionaire?. If you had to save, how long would it take you to save £1m?



By Paul Farrow Last Updated: 4:59PM GMT 09 Jan 2009

How long will it take to become a millionaire? Photo: BBC
Go on, admit it. You have dreamed that one day you will become a millionaire. More than two-thirds of the 23m people who have bought National Savings & Investments' Premium Bonds have done so in the hope of becoming a millionaire.
However, the odds are stacked against you and the chances of winning the Premium Bond jackpot are 1.6m to one if you have £1,000 worth of bonds.
Tens of thousands play the National Lottery each week in the hoping of becoming a millionaire. Most of us only win a tenner every now and then by matching three numbers. Matching six numbers is an entirely different ball game. With six numbers drawn at random from the set of integers between 1 and 49, the jackpot odds are 1 in 13,983,816 – or approximately 1 in 14m.
Del Boy Trotter from TV's Only Fools and Horses always dreamed of becoming a millionaire. But the odds are also firmly stacked against you finding an antique watch worth £1m in your garage – as Del Boy did to finally fulfil his lifelong dream.
For most of us, all we can do is graft away and put what money we have going spare by to build up a tidy nest egg. You are likely to be far short of a £1m – but just in case you are interested, our new calculator will show you how much you will need and how long it will take for various rates of return.




Millionaire calculator