Country with the highest GDP per capita? Is our own higher?
Country with the highest GDP per capita in 2021 is Luxembourg at US$126,000 (RM534,000) pear year. WOW. Second place is much further away, Ireland at US$90,000 (RM381,000). Still pretty high. Switzerland is almost the same followed by another double digit percentage drop for Norway at US$76,000 (RM322,000). United States round up the top 5 GDP per capita at US$66,000 (RM280,000).
Already the top 5 highest yeah
These are the countries where the GDP per capita is the highest in the world. In other words, it will just get lower after these 5 countries. I know, some wants to ask where is Malaysia?
Malaysia is around US$11,000 (RM47,000). However, this should not be the main focus. For readers of kopiandproperty.com stay focus on what matters more.
Is our own income per year higher than these top 10 GDP per capita countries?
If it is, congratulations! If it is not, start earning higher… save more… invest more and protect everything we have. We can keep blaming the world, everyone and including the government of the day but the only one who could really help us is just us.
Just remember, highest cost of living will always be PROPERTY
Cheaper food versus the salary they earn? Sure. Cheaper groceries versus the salary they earn? Sure. This happens in many countries where the salary is much higher than Malaysia. However, we need to remember that whether in those countries or even in Malaysia, the biggest cost / expenditure will always be the housing cost. If we buy one, it is gong to eat up 30-40% of our income monthly. Yes, super high.
If we rent one, well… it’s just forever. RM2,000 x 12 months x Infinity Number of Years (including the next generations to come) is the cost of renting, okay? By the way, whether renting or buying, do it within our affordability. Then, everything should be just fine. Stay focused, how could we earn more (few streams of income), how could we save more (buy based on need), how could we invest more (invest with knowledge) and last how we can protect what we have. (all the different insurance / protection plans).
All the best to all of us. Seems like 16th August 2021 is a SPECIAL DAY?
Love news like this and more? Sign up for daily investment news updates. Alternatively, Follow me on Telegram here.
Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. Else, follow me on Twitter here.
Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)
Next suggested article: Eocnomy Malaysia. Bouncing back most likely. Who said that?
You must log in to post a comment.