What should your net-worth be to be considered "elite"

[Eboy21]

With all the discussion about the "elite" class and "Class A," What should a persons net-worth be to be considered "ultra-rich" here in the Philippines?

[Naruto Kun]

about P 100m pwede na siguro

[clone19]

about P 100m pwede na siguro

sheet kulang pa ako ... konti lang....

[FrankNYC]

I've been doing some research bec. I plan on returning to the philippines soon to retire. The "elite" life I'd like to have would include:

A 30 million peso (give or take 5 million) home in Ayala Alabang or similar development

5 million pesos for furnishings/cars, etc

150,000 pesos a month in passive income, net (1.8 mil. annually) That'll be approx. 2.25 mil. gross assuming 20% capital gains tax on my return. Also, assuming 8% return on my money and 4% inflation, I would need a kitty totaling over 56 million pesos.

Total= 91 million pesos.

[tidus1203]

$1 million IMO can be considered elite. $500K is already rich but not yet ultra rich or elite.

[tuvwxyz]

500 million pesos

[-Eijay-]

100m......... lah

[KuyaDanny]

There was an article about private banking in Asia in today's Wall Street Journal. The "super rich" in Asia had an average net worth of $3.8 million.

[business_guy]

Appoximately, around P177 million yun kuyadanny. Pero for me, you can be considered to be Super Rich in the Philippines if you have a net worth of at least P100 million. Here are my 'opinions' (Opinion lang po ok - lol:
(Applicable lang dito sa Philippines - net worth)

1. Super Rich - P100 million and above
2. Rich - P50 million to P99 million (yung mga butal sa 99 million, kasama pa rin dito sa bracket)
3. Above Average - P20 million to P49 million
4. Average - P3 million to P19 million
5. Below Average - P500 Thousand to P2 million
6. Poor - P499 Thousand and Below

Yun po ang aking pananaw....

[-Eijay-]

That's on the money

But seriously if your elite you shouldn't have only one house

There should be a mansion in the province

A condo in makati

A house in valle verde

A vacation house in tagaytay

And also a house near the marina in the poea cyber bay where you can have a house by the bay and a place to park your yatch

All this though would cost more than 100m.......... Rats

Need to work mo lah till I grow old and die

[doc pio]

Hey business guy, your post on networth is really an eye-opener! Also, it made me extremely depressed! I hope you don't mind my asking, but how did you compute for the figures? Don't get me wrong, but I really get enlightened by your posts. Are there really many people who reach average wealth levels of P19M?

[BeerhandBop]

19 M isn't hard to get, you know.

a property sa qc area's already about 5M... so 3 properties is already 15M, plus banko mo and time deposits pa. ...

[doc pio]

Let's say you have ten years to make P19M. You need to set aside P158,333.34.00 a month for ten years, wala pa yung everyday gastos mo! What kind of business and investments can make you this amount of cash? Share naman!

[foolcha]

I suggest you should also consider the age.

[prEttyNdisTress]

Appoximately, around P177 million yun kuyadanny. Pero for me, you can be considered to be Super Rich in the Philippines if you have a net worth of at least P100 million. Here are my 'opinions' (Opinion lang po ok - lol:
(Applicable lang dito sa Philippines - net worth)

1. Super Rich - P100 million and above
2. Rich - P50 million to P99 million (yung mga butal sa 99 million, kasama pa rin dito sa bracket)
3. Above Average - P20 million to P49 million
4. Average - P3 million to P19 million
5. Below Average - P500 Thousand to P2 million
6. Poor - P499 Thousand and Below

Yun po ang aking pananaw....

Is this a yearly income?

Oh my god! With my yearly income I'm "Below Average"... so after tax.."POOR" na ako.

Sana manalo sa Lotto!

[MissDaisy]

Rule of thumb:

In the USA, the "mass affluent" is defined by private bankers as those with net worth ranging from $1MM to $5MM.

The "affluent" is defined as those with net worth of more than $5MM.

The "ultra" high net worth are those with more than $25 MM in net worth.

Then, we have the billionaires and tycoons with more than $1Bn.

[business_guy]

Is this a yearly income?

Oh my god! With my yearly income I'm "Below Average"... so after tax.."POOR" na ako.

Sana manalo sa Lotto!

The lists I posted are net assets of an individual....

[business_guy]

19 M isn't hard to get, you know.

a property sa qc area's already about 5M... so 3 properties is already 15M, plus banko mo and time deposits pa. ...

Yes, P19M is really hard to get, pero, that's the truth. In fact, yung list that I posted are just for the Philippine standards lang. Pag nasa USA ka, P100M of net worth won't consider you as an elite. In fact, average level lang yun for their standard....

[metropolitan]

imo, magkaiba ang maraming pera sa elite.
pwedeng magkaroon ng maraming pera pero hindi automatic na maging elite.

ito ang sabi ng wikipedia.

Elite (also spelled Élite) is taken from the Latin, eligere, "to elect". In sociology as in general usage, the élite (the "elect," from French) is a relatively small dominant group within a larger society, which enjoys a privileged status which is upheld by individuals of lower social status within the structure of a group. When applied to an individual, as in the phrase "many elites come from this squad," the usage quite economically both refers to an individual within that class and establishes the speaker as non-elite.

An elite is the result of economic and political forces within a social structure. Upon formation, societies have always had the tendency to stratify due to a combination of politics and ability. The position of an elite at the top of the social strata almost invariably puts it in a position of leadership and often subjects the holders of elite status to pressure to maintain their position as part of the elite. However, in spite of the pressures borne by its members, the existence of the elite as a social stratum is usually unchanged.