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Want to build wealth of US$1 million or higher?

Could we build wealth and become a millionaire by saving up as much as our monthly salary as possible? Some would now ask if it’s RM1 million or US$1 million. That’s a big difference.

The answer is a firm yes. It will take time, but yes. We could also chose to buy to continue buying some blue-chip stocks and wait for its price to rise over the years. It worked for my friend. He’s now a high-flyer and no longer works as an engineer. The fastest way may just be an idea which turned into a start-up and well, everything becomes history. If the idea did not work after sometime, then it becomes a memory…

build wealth
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Wealth through property

In many countries, property ownership remains to be one simple reason for people to become millionaires. In Malaysia, there is also that possibility too. Of course, if we are talking about net wealth of RM1 million as a millionaire, then one would need a fully paid home of RM1 million to qualify as a millionaire. Else, the home technically belongs to the bank yeah, not us. So, when that happens, we should be close to retirement or already retired. What about a millionaire in US$ then? That’s slightly over 4 times harder because of currency yeah. Then again 0.2% of Malaysians have achieved it.

Article in Credit Suisse Group AG’s latest global wealth report says that total wealth in Malaysia grew 14% year-on-year BUT only 0.2% of adult Malaysians were categorised in the over US$1 million (RM4.18 million) wealth bracket. The Swiss bank noted that its quality of data is not robust.

3.7% Malaysians have US$ 100,000 to US$1 million. (That’s RM418,000 – RM4.18 million) 42.7% has wealth between US$10,000 – US$100,000 and remaining 53.4% has wealth of under US$10,000. (RM41,800). Total wealth in Malaysia also grew to US$682 billion, representing a 14% increase from the US$598 billion last year, comprising 0.2% of the world’s total wealth.

Meanwhile Malaysia’s Gini coefficient reading — which measures the distribution of income in a given population — improved from 82% in 2018 to 79.6% this year. Note that a higher Gini index reading indicates greater income inequality, while lower reading indicates better income equality in a society. The country’s Gini coefficient is also lower than the world average of 88.5% and Asia Pacific’s 88% in 2019. Lots of other numbers in the report. Its within the Article in

Aiming at joining the 0.2%? Perhaps aim in local currency first. Easier. We could work harder and climb the corporate ladder faster. At the same time, keep investing into blue-chip stocks. Meanwhile get a nice place to stay and start paying for it. Remember, that RM500,000 home we are staying today may well be RM1,000,000 by the time we retire. By then if we little or no debts left, we have also reached the millionaire target. The last thing is to keep buying handbags and keeping them in a condo somewhere. Happy moving towards the goal.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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