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Kenyan Millionaire
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Marty
#1 Posted : Tuesday, July 07, 2009 12:34:00 PM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
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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wote
#2 Posted : Tuesday, July 07, 2009 12:41:00 PM
Rank: Member

Joined: 10/18/2007
Posts: 217
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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Marty
#3 Posted : Tuesday, July 07, 2009 12:44:00 PM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
@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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simonkabz
#4 Posted : Tuesday, July 07, 2009 12:44:00 PM
Rank: Elder

Joined: 3/2/2007
Posts: 8,776
Location: Cameroon
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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Pablo
#5 Posted : Tuesday, July 07, 2009 12:51:00 PM
Rank: Member

Joined: 3/17/2008
Posts: 567
Location: Nairobi
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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Iborian
#6 Posted : Tuesday, July 07, 2009 12:56:00 PM
Rank: Member

Joined: 4/17/2009
Posts: 194
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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wote
#7 Posted : Tuesday, July 07, 2009 1:05:00 PM
Rank: Member

Joined: 10/18/2007
Posts: 217
@ 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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McReggae
#8 Posted : Tuesday, July 07, 2009 1:09:00 PM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
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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slicky d
#9 Posted : Tuesday, July 07, 2009 1:15:00 PM
Rank: Member

Joined: 10/6/2006
Posts: 22
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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wote
#10 Posted : Tuesday, July 07, 2009 1:16:00 PM
Rank: Member

Joined: 10/18/2007
Posts: 217
@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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