# 1 in 50 Dubliners is a millionaire



## Brendan Burgess (24 Jul 2014)

According to a report in the Irish Times 

http://www.irishtimes.com/business/...every-50-dubliners-is-a-millionaire-1.1876745



> “For Dublin itself, an abundance of millionaires  could help the city claw back its financial prowess from 2008’s  collapse,” he added.
> 
> 
> WealthInsight defines a millionaire as an individual with net assets of $1 million or more, excluding their primary residence.



Doesn't sound right to me. 

What is the population of Dublin? 1.5m? 

That is 30,000 millionaires.


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## Guns N Roses (24 Jul 2014)

I would guess the survey includes a lot of individuals with buy to let properties assets.


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## Purple (26 Jul 2014)

Does it include pension fund values or, for those with DB pensions, the value of what it would cost to find their pensions? If it does then most retired Gardai, most retired senior Civil Servants and many many others from the banking sector would qualify but it would be ridiculous to think that they are really millionaires.


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## roker (26 Jul 2014)

If I move to Dublin does that mean I have a 1 in 50 chance of becoming a millionaire


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## Purple (28 Jul 2014)

roker said:


> If I move to Dublin does that mean I have a 1 in 50 chance of becoming a millionaire



Yes, that's exactly what it means.


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## Firefly (28 Jul 2014)

roker said:


> If I move to Dublin does that mean I have a 1 in 50 chance of becoming a millionaire



Just keep buying return tickets to Dublin, telling yourself every time that you are "Moving to Dublin", until a chauffeur appears at the end of the platform holding a placard with your name on it. 

Better odds that the Lotto I imagine. "If you're not in..."


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## roker (28 Jul 2014)

I think I will move to Monaco, I have a 1 in 3 chance


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## Firefly (28 Jul 2014)

roker said:


> I think I will move to Monaco, I have a 1 in 3 chance



Really? I'll book a holiday for the family, one of us is bound to make big!


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## Bronte (28 Jul 2014)

Brendan Burgess said:


> Doesn't sound right to me.
> 
> What is the population of Dublin? 1.5m?
> 
> That is 30,000 millionaires.


 
Sounds perfectly feasable to me.  How many houses in Dublin are worth a million, how many half a million, add in pension, cash, other assets, inheritances and there you have your 30,000 millionares.  I assume they didn't know off mortgages for the calculations.


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## Squonk (28 Jul 2014)

Bronte said:


> Sounds perfectly feasable to me.  How many houses in Dublin are worth a million, how many half a million, add in pension, cash, other assets, inheritances and there you have your 30,000 millionares.  I assume they didn't know off mortgages for the calculations.


 "WealthInsight defines a millionaire as an individual with net assets of $1 million or more, excluding their primary residence."...that would rule out the houses. I'm not sure if pensions are included if they are not readily accessible?


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## mandelbrot (28 Jul 2014)

Wonder what the rate is among regular posters on AAM...

Definitely a lot of wannabes anyway!!


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## MrEarl (10 Nov 2014)

Hello,

Assuming the original quote is intended to show the dollar sign & I imagine, refers to US$, then it's approx. €800k.  

Given the considerations raised above (such as pensions, property assets (excl. family home) etc.) then one in fifty does not seem unrealistic.


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