8 mill US$ millionaires in the world

preben · 04-26-2006, 10:30 AM

That is about 0.1% or 1 out of every 1000 people on the planet.

The number EXCLUDES primary residence.

Ref: http://www.ml.com/media/48237.pdf being the 2005 Merril Lynch Wealth Report.

I think it is a healthly reminder when we have all our scare-stories going on about how $1M will not be enough - and also confirms that we FIREes are a very exclusive club! 8-)

Cheers!

wabmester · 04-26-2006, 12:04 PM

And only 2397 of them are registered on this site. Is there some other forum where the rest of the 8 million hang out?

73ss454 · 04-26-2006, 01:06 PM

Don't know but I'm happy to be here.

Sam · 04-26-2006, 01:40 PM

Quote:

Originally Posted by wab

And only 2397 of them are registered on this site.* *Is there some other forum where the rest of the 8 million hang out?

Hmmm... Make that 2396.

Enuff2Eat · 04-26-2006, 01:48 PM

can i get the listing of the 2396 member that are in the mil. club. And how do i register and then unregister to this club.

our local newspaper printed an article about the illegal immigrant family. anyhow, the illegal family said that their life is much better now compare to when they were back home. The ONLY thing that trouble them is that they are 2 PAY CHECK away from homeless.

my point is that our living style is better but not neccessary our finance. this family said that they were poor in their own country but really never worring about being homeless and never in their life have seen so many bills coming in to their mailbox

enuff

Cool Dood · 04-26-2006, 02:20 PM

Quote:

Originally Posted by Enuff2Eat

...and never in their life have seen so many bills coming in to their mailbox

They can always, you know, buy less stuff...

lazygood4nothinbum · 04-26-2006, 04:24 PM

Quote:

mine, mine, mine... consequences, shmonsequences, as long as i'm rich. ~~daffy duck in ali baba bunny 1957

Austin_Explorer · 04-27-2006, 08:40 AM

Quote:

Originally Posted by wab

And only 2397 of them are registered on this site.* *Is there some other forum where the rest of the 8 million hang out?

Crud!* No one told me there was a net worth requirement to join the group.* See ya'll in a decade.

**REWahoo** · 04-27-2006, 08:50 AM

Quote:

Originally Posted by Austin_Explorer

Crud! No one told me there was a net worth requirement to join the group. See ya'll in a decade.

Yep. Only millionaires (or 14 year old teenagers from Missoula pretending to be) are allowed to post here.

SteveR · 04-27-2006, 10:01 AM

Ok,

Will the Real Millionaires.......Please stand up?

Anyone?

Anyone?

Buhler?

wstu32 · 05-02-2006, 03:24 AM

how do ya do!

rs0460a · 05-02-2006, 06:10 AM

Quote:

Originally Posted by Austin_Explorer

No one told me there was a net worth requirement to join the group.* See ya'll in a decade.

Don't worry about it - I can cover 3-4 people by myself*

.

Post on !!!!*

ShokWaveRider · 05-02-2006, 07:50 AM

Of course there are more $M'airs now. If you had 800,000 Euros 5 years ago you would only have had $650k US, Now you have $1.08m!

If you had $1.1m CANADIA 5 years ago you would have had $687,500 US now you will have $1m for the same amount!

The rate we are going, there will be a lot more in the next 5 Years.

Thanks George and CO.!

SWR

preben · 05-02-2006, 10:58 AM

SWR - good point and the report actually adresses that too in the initial text. Interestingly they(ML) do not seem to care - probably due to most of their bills/costs both being in US$ anyway

.
Cheers!

Spanky · 05-02-2006, 09:58 PM

Quote:

Originally Posted by ben

I think it is a healthly reminder when we have all our scare-stories going on about how $1M will not be enough - and also confirms that we FIREes are a very exclusive club! 8-)

It really depends on your life style and where you live. $1M (US) goes a long way in Vietnam or India, for example, but barely enough in Mahhattan or the French Riviera.

preben · 05-03-2006, 01:52 AM

Yeah - one will probably have to aim for being 1 out of 10000 people if penthouse in Manhattan or House at the French Rivera is the plan. 8). I do believe that it is possible for a single person to live modestly both places too on $1M though.

A well diversfied portfolio (Incl. commodities, foreign, value Etc.) have historically had a SWR of about 5.7% according to this study: http://raddr-pages.com/research/CommodityFutures.htm (for the period the study covers). Scroll to the bottom. Other studies have shown that one can add some more (1-2%) if makes some rules for sensible withdrawal rates (adjust less up after bad years).

Having about $60k/year should give an OK lifestyle for most singles but certainly not all. Cheers!

04-26-2006, 10:30 AM	#1
preben Recycles dryer sheets Join Date: Jul 2002 Posts: 420	8 mill US$ millionaires in the world That is about 0.1% or 1 out of every 1000 people on the planet. The number EXCLUDES primary residence. Ref: http://www.ml.com/media/48237.pdf being the 2005 Merril Lynch Wealth Report. I think it is a healthly reminder when we have all our scare-stories going on about how $1M will not be enough - and also confirms that we FIREes are a very exclusive club! 8-) Cheers!

04-26-2006, 12:04 PM	#2
wabmester Thinks s/he gets paid by the post Join Date: Dec 2003 Posts: 4,461	Re: 8 mill US$ millionaires in the world And only 2397 of them are registered on this site. Is there some other forum where the rest of the 8 million hang out?

04-26-2006, 01:06 PM	#3
73ss454 Thinks s/he gets paid by the post Join Date: Oct 2004 Posts: 1,758	Re: 8 mill US$ millionaires in the world Don't know but I'm happy to be here.

04-26-2006, 01:48 PM	#5
Enuff2Eat Recycles dryer sheets Join Date: Oct 2005 Posts: 303	Re: 8 mill US$ millionaires in the world can i get the listing of the 2396 member that are in the mil. club. And how do i register and then unregister to this club. our local newspaper printed an article about the illegal immigrant family. anyhow, the illegal family said that their life is much better now compare to when they were back home. The ONLY thing that trouble them is that they are 2 PAY CHECK away from homeless. my point is that our living style is better but not neccessary our finance. this family said that they were poor in their own country but really never worring about being homeless and never in their life have seen so many bills coming in to their mailbox enuff

04-27-2006, 10:01 AM	#10
SteveR Moderator Emeritus Join Date: Jul 2005 Posts: 2,675	Re: 8 mill US$ millionaires in the world Ok, Will the Real Millionaires.......Please stand up? Anyone? Anyone? Buhler? __________________ Work? I don't have time to work....I'm retired.

05-02-2006, 03:24 AM	#11
wstu32 Recycles dryer sheets Join Date: Dec 2005 Posts: 186	Re: 8 mill US$ millionaires in the world how do ya do! __________________ We should all feel blessed!

05-02-2006, 07:50 AM	#13
ShokWaveRider Full time employment: Posting here. Join Date: Jun 2003 Posts: 583	Re: 8 mill US$ millionaires in the world Of course there are more $M'airs now. If you had 800,000 Euros 5 years ago you would only have had $650k US, Now you have $1.08m! If you had $1.1m CANADIA 5 years ago you would have had $687,500 US now you will have $1m for the same amount! The rate we are going, there will be a lot more in the next 5 Years. Thanks George and CO.! SWR __________________ Retirement Definition - Not Having To Work, But Not Neccessarily Not Working - SWR 2000

05-02-2006, 10:58 AM	#14
preben Recycles dryer sheets Join Date: Jul 2002 Posts: 420	Re: 8 mill US$ millionaires in the world SWR - good point and the report actually adresses that too in the initial text. Interestingly they(ML) do not seem to care - probably due to most of their bills/costs both being in US$ anyway . Cheers!

05-03-2006, 01:52 AM	#16
preben Recycles dryer sheets Join Date: Jul 2002 Posts: 420	Re: 8 mill US$ millionaires in the world Yeah - one will probably have to aim for being 1 out of 10000 people if penthouse in Manhattan or House at the French Rivera is the plan. 8). I do believe that it is possible for a single person to live modestly both places too on $1M though. A well diversfied portfolio (Incl. commodities, foreign, value Etc.) have historically had a SWR of about 5.7% according to this study: http://raddr-pages.com/research/CommodityFutures.htm (for the period the study covers). Scroll to the bottom. Other studies have shown that one can add some more (1-2%) if makes some rules for sensible withdrawal rates (adjust less up after bad years). Having about $60k/year should give an OK lifestyle for most singles but certainly not all. Cheers!

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