Below is recycled from one of my previous articles posted years ago and please note that Ringgit Malaysia has weaken substantially since the last few years.

Today I am going to tell you why you are so lucky if you are a Malaysian.

First of all, if you are reading this, it means that you are an educated person. As such, I believe that you do not have to worry if you can afford your next meal. And most probably you will be rich before you die, unless you are addicted to gambling or are a drug addict or continuously wasting your income on material stuff.

Recently, while watching a live TV program on current matters in Australia (I really have nothing to do in Melbourne but watch the news and play games only), someone asked the guest panelists – “is it fair that 1% of the world’s population control 48% of global wealth?” I was surprised when I heard this. And I can’t remember what the guest panelists’ replies were but I guess their answers were not of importance as I can’t remember what they said, hahaha.

So I went googling and it is true that 1% of the world’s population control 48% of the world’s entire wealth. Did you know that the population of the world is 7 billion human beings? 1% of 7 billion equates to 70,000,000 people. Well, 70 million IS A LOT of people. BUT the 80 wealthiest billionaires in this world has combined wealth of more than 50% of the world’s population!!!

And in order to be in the world’s top 10% wealthiest, you only need to have assets (positive net-worth) of USD77,000 (about RM280K)! Nowadays one can hardly find a double storey terrace house in Klang Valley for less than RM280K (some single storey terrace houses cost more than RM500K!). So, you can safely say that every owner of a double storey terrace house in Klang Valley is amongst the top 10% richest person on earth!

And to be in the top 1% of the world’s wealthiest, you don’t even need to be a millionaire (minimum USD1M, if you have RM1M then you are a Ringgit-aire), one only needs USD798,000 (about RM2.9M) in positive net-worth. Nowadays, a new bungalow within a gated community in Klang Valley would most probably cost more than RM2.9M. So every person who owns a bungalow in 1U, Bandar Utama, KL, PJ, Cheras, Shah Alam, TDDI, and etc can be considered to be among the wealthiest 1% on earth! I guess the same can be applied to those who have a bungalow in Penang Island.

So for you young people who just graduated and are paying for your smart phone with instalment plans (which is a debt) and paying for your MYVI with 9 years loan (besides getting poorer instantly on the day you sign on the dotted lines agreeing to the car loan approval where you will be imposed interest upfront, you are losing money yearly due to depreciation), you guys better start saving for your house down payment and purchase a place of your own (if you have not) so that you too can be among the top 10% richest people on earth in due time.

And I also read that if one has just USD3,650 in assets (about RM13K at today’s conversion rate), he/she will be among the wealthiest 50% of the world’s population. Millions of Malaysians have more than RM13K in their EPF account that’s for sure.

From the above, I can safely say that if you are an educated person, most probably you will have RM13K in positive net-worth (or soon will once you pay off your house loan and the property is discharged from the bank). And if you are about to retire soon, I am pretty sure you have much more than RM13K in your EPF. Thus most Malaysians (who are currently working or have retired with EPF) are already among the top 50% (above average) wealthiest human beings on earth!