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8 mill US$ millionaires in the world
Old 04-26-2006, 10:30 AM   #1
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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!
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Re: 8 mill US$ millionaires in the world
Old 04-26-2006, 12:04 PM   #2
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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?
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Re: 8 mill US$ millionaires in the world
Old 04-26-2006, 01:06 PM   #3
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Re: 8 mill US$ millionaires in the world

Don't know but I'm happy to be here.
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Re: 8 mill US$ millionaires in the world
Old 04-26-2006, 01:40 PM   #4
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Re: 8 mill US$ millionaires in the world

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.
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Re: 8 mill US$ millionaires in the world
Old 04-26-2006, 01:48 PM   #5
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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
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Re: 8 mill US$ millionaires in the world
Old 04-26-2006, 02:20 PM   #6
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Re: 8 mill US$ millionaires in the world

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...
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Re: 8 mill US$ millionaires in the world
Old 04-26-2006, 04:24 PM   #7
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Re: 8 mill US$ millionaires in the world

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Re: 8 mill US$ millionaires in the world
Old 04-27-2006, 08:40 AM   #8
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Re: 8 mill US$ millionaires in the world

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.
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Re: 8 mill US$ millionaires in the world
Old 04-27-2006, 08:50 AM   #9
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Re: 8 mill US$ millionaires in the world

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.

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Re: 8 mill US$ millionaires in the world
Old 04-27-2006, 10:01 AM   #10
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Re: 8 mill US$ millionaires in the world

Ok,

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

Anyone?

Anyone?

Buhler?
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Re: 8 mill US$ millionaires in the world
Old 05-02-2006, 03:24 AM   #11
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Re: 8 mill US$ millionaires in the world

how do ya do!
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Re: 8 mill US$ millionaires in the world
Old 05-02-2006, 06:10 AM   #12
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Re: 8 mill US$ millionaires in the world

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 !!!!*
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Re: 8 mill US$ millionaires in the world
Old 05-02-2006, 07:50 AM   #13
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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
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Re: 8 mill US$ millionaires in the world
Old 05-02-2006, 10:58 AM   #14
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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!
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Re: 8 mill US$ millionaires in the world
Old 05-02-2006, 09:58 PM   #15
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Re: 8 mill US$ millionaires in the world

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. $1M (US) goes a long way in Vietnam or India, for example, but barely enough in Mahhattan or the French Riviera.
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Re: 8 mill US$ millionaires in the world
Old 05-03-2006, 01:52 AM   #16
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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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