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Kenyan Millionaire
Rank: Veteran Joined: 3/31/2008 Posts: 761 Location: Nairobi
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Guys, The most widely accepted definition of a millionaire is an individual whose net worth or wealth exceeds one million units of currency,in the Kenyan context,Kshs. However,such a person does not seem to me anywhere close to what I always perceived to be a millionaire when I was younger. Back then when the value of the shilling was much higher,the definition may have made sense. So when do I consider myself a millionaire??? ..wise as a serpent,humble as a dove When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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Rank: Member Joined: 10/18/2007 Posts: 217
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The most widely accepted definition by who?
If that is your definition of a millionaire,so be it. I would call myself a billionaire because i have a Ten billion ZIM Dollar bill.
wote
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Rank: Veteran Joined: 3/31/2008 Posts: 761 Location: Nairobi
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@wote, that is the definition I get when I check on the dictionary....and apparently it does not make any sense to me. You provide a better yard stick?? ..wise as a serpent,humble as a dove When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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Rank: Elder Joined: 3/2/2007 Posts: 8,776 Location: Cameroon
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My humble rating is at least 5m. Thats just me. The only reason why some people are still alive is coz its illegal to shoot them!! TULIA.........UFUNZWE!
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Rank: Member Joined: 3/17/2008 Posts: 567 Location: Nairobi
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To me its if you make 1M every month passively.
Want to be a millionaire.... plant a million cabbages and sell them at a bob...
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Rank: Member Joined: 4/17/2009 Posts: 194
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For me,you need USD 1 million. In Kenya this would enable you to buy a home in most exclusive areas. Hell,you can have even have a beach house down at the coast in addition to your other digs in Lavington,Runda etc (mind you - not an apartment or town house). You will also be able to buy at least one top of the range wheels - not Ex-Japan or Ex-UK. And if you choose not to work ever again - the return on such a sum even in low risk fixed income instruments will still give you a comfortable lifestyle. Now that's what I call a millionaire. DISCLAIMER - I do not qualify!
'When you do not know a thing,admit that you do not know it. This is knowledge' - Confucius
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Rank: Member Joined: 10/18/2007 Posts: 217
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@ Marty,your defination is the ancient definition of a millionaire especially in years that we probably had one currency unity which happens to be Gold.
If you read the 2007 World Wealth Report,a millionaire is defined as someone with atleast a networth U$1million in assets.
If you are in,Bravo my brother.
wote
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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If you can mobilize a million at any one particular time without resorting to borrowing then for me yu qualify to be called a millionaire!!!!.....achaneni na mambo ya USD and Zim dollars,who sed USD is the yard stick.......we talking kenyan millionaire here and thus a defintion in KES should suffice!!! The chief value of money lies in the fact that one lives in a world in which it is overestimated. ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Member Joined: 10/6/2006 Posts: 22
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kshs 50 million. it means you can go for a hiliday in bahamas with family for a month and still come back and afford necessities without being worried about that holiday
The stock market is not for the faint hearted. The US market has had over 50 market corrections in 70 years
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Rank: Member Joined: 10/18/2007 Posts: 217
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@Mcreggae,i have Ten Billion Zim dollars carried over from my last visit in that country,definately not a loan. Would that make me a Billionaire?
wote
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Rank: Veteran Joined: 3/31/2008 Posts: 761 Location: Nairobi
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How interesting that everyone has got their own definition; Maybe being a millionaire is a mindset/perception. Don't get me wrong,it's also about the money to an extent. But the money could just be a small part of being a millionaire. Being a Millionaire could also be the lifestyle u live,they way u think,the way u spend ur time and the things u do. It could be being able to provide for ur family and to feel like u have reached self actualization stage of Maslows hierachy of needs. Again some of the extremely wealthy fellows do not live like they are millionaires. It is all so confusing. ..wise as a serpent,humble as a dove When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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Rank: Elder Joined: 11/19/2008 Posts: 1,267
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This thing ..Million ...is hard to make and keep in cash....I mean .. fixed or saving account... not shares or house.....but liquid/hard cash... do we have such guys here with say 1m in their savings account or under their mattresses...? cap off for you....Ive tried in vain Rules of the game here: Before you post anything think.give facts only..It's a serious blog for serious people....Do not insult your brother....respect one another...Just be good Isaiah 65:17-Look! I am creating new heavens and a new earth, and no one will even think about the old ones anymore
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Rank: Elder Joined: 12/13/2006 Posts: 2,589
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Actually Fundaah's question has got me thinking,which guys out there whom you're sure would have at least Ksh1M in their CURRENT account perhaps all year round would be sending replies in a blog? And am not disrespecting sk guys,hell am one,hopeful I can one day qualify to be in the Champions league; am just trying to picture Chandaria or maybe a CK,heck even a well paid CEO like MJ or James Mwangi,or anyone who maintains such balances who would be a member of such an insightful and social blog such as sk,replying to posts and basically seeing what guys out there are thinking. Would be interesting to know... smano BEER IS LIVING PROOF THAT GOD LOVES US AND WANTS US TO BE HAPPY!
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Rank: Member Joined: 10/17/2008 Posts: 338 Location: Kenya
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@ Fundaa...i have a client who has a 35M in a fixed deposit account in one of these corporate banks...current ac ni hard yenyewe..... Wisdom brightens a man's face and changes its hard appearance.Eccle 8:1 Think the unthinkable but wear a dark suit
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Rank: Elder Joined: 11/19/2008 Posts: 1,267
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@Smano MJ replied one time in this forum....the thread was on Mpesa phenomenon...you might never know who is watching here....I'm out of topic :) Read the rules of the game.. it's a serious blog Rules of the game here: Before you post anything think.give facts only..It's a serious blog for serious people....Do not insult your brother....respect one another...Just be good Isaiah 65:17-Look! I am creating new heavens and a new earth, and no one will even think about the old ones anymore
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Rank: Member Joined: 5/16/2009 Posts: 145
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Millionaire: do not mind which currency. If domiciled in kenya,the relevant currency is ksh. and if in zimbabwe,ofcourse Zm$. Two things matter sk: First,matters what millionaire you are. Whether you have fixed assets,near cash,cash,or bank facility worth one million and over. Second is the size of the family. To be classfied a millionaire,the percapita for the family should be over one million. For a family of 4,to be classfied a millionaire,you should be worth 4m.
Quite simple
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Rank: Member Joined: 11/6/2006 Posts: 276
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please all read the book 'THE MILLIONAIRE NEXT DOOR' by Professors Danko and Stanley.. or at least google the synopsis
are you guys talking about real millionaires (wealthy people) or the other kind.. the hollywood stereotype... that go goes to bahamas...
wheelz..... many housest... for f**ks sake ... !!!!!!!!!!!!!!!!!!!!!
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Rank: Elder Joined: 11/19/2008 Posts: 1,267
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Stone .. You say '4M worth ' .....and the measure of worthiness... is it cash and cash equivalent ..or fixed assets.... stolen or honestly earned.....? to me unclean USD 1Million is worthiless... Rules of the game here: Before you post anything think.give facts only..It's a serious blog for serious people....Do not insult your brother....respect one another...Just be good Isaiah 65:17-Look! I am creating new heavens and a new earth, and no one will even think about the old ones anymore
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Rank: Member Joined: 5/16/2009 Posts: 145
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@fantony: Read MND and my comments are in line.
@Fundaah: 4 million active assets
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Rank: Member Joined: 10/26/2007 Posts: 31
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I believe we are all defining,our wishes of how much wealth we wish to have,either by time x or by age y . There are few who would bodly say they are millionaires .. and we all hope to reach there.
Comparatively,we would say the other is a millionaire or looks a millionaire . but looks often deceive.
For me,i have a long way to go ...
Smooth
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