Dollar Millionaires

According to this Dutch newspaper article there are 191,000 dollar millionaires in The Netherlands. We’re in 12th place worldwide.  The U.S. has the most dollar millionaires (5.9 million), Japan comes in second place (1.5 million) and China takes bronze (1.3 million). The total amount of dollar millionaires worldwide is 13.8 million. I thought that amount would be higher. My husband and myself are determined to “join the club” as 1 million dollars equals 760.000 euros which sounds like an achievable goal if one takes a couple of decades to get there.

Maybe I should join J. Money’s million dollar club?

Love,

Mrs EconoWiser

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9 thoughts on “Dollar Millionaires

  1. Cleo

    Wow, a personal invitation!
    Maybe you can elaborate in a separate post on the (your) way to join the million dollar club. Is there for instance an serious equivalent for the 401k in the Netherlands or do you focus solely on building the stash?

    Reply
    1. econowiser Post author

      Hi Cleo, that’s a very good suggestion! I’m figuring out how to get the badge on my website and then I’ll sign up. There’s no equivalent for the 401k in our country. Pensions are organized in such a way that you don’t contribute yourself, but your employer does. So I guess it would mostly be stash building. But I’ll figure that one out! Now that we’re almost done with our interest-only mortgage we have to think of what to do next anyways.

      Reply
      1. Cleo

        Great, that will be an inspiration for the visitors as well.
        For the 401k question, I’m Dutch as well. But as I’m not an employee I was just curious if there was a plan in NL that looked a bit like the 401k plans in the US. The pensionplans here are dreadful as you know and “lijfrentes” are not that great either due to costs. I guess it will be stashbuilding for us 🙂

      2. econowiser Post author

        Hi Cleo, I guess so too. We’re going to talk to our mortgage advisor at the bank after we’ve signed off the repayment check for the interest-only part of the mortgage. We’d like to know what the tax drawbacks are if we start paying off our savings mortgage. We’d lose all our tax benefits (bankspaarhypotheek bandbreedte). I hope they’ll change the rules soon here… If we don’t want to take that risk I’ll talk to my accountant on how best to build stash. I guess it’ll come down to index investing. He is very much in favour of buying a rental property, I’ve talked to him about this before. However, the husband really doesn’t want a rental property…

  2. Cleo

    Funny, my husband isn’t to fond of the idea as well. While I can enjoy making a nice excell sheet with inflationcorrected rental income in the future of a houses on funda, he only thinks about the nightly calls of renters 🙂 So for now I’m investing in indexfunds… (and reading Afford Annything.com for inspiration …..)

    Reply
    1. econowiser Post author

      Haha, same here! He says if I insist it’s all up to me and I have to handle those crappy renters. I guess it’ll come down to index investing only here as well…

      Reply
  3. Johnny Forex

    Ik vind deze lijstjes altijd zo nietszeggend. Er wordt nooit bij gezegd dat een dollar of een euro hier niet hetzelfde is als in het buitenland. Het leven hier is veel duurder!

    Reply

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