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Can you get in 1% richest club in nepal if you have 1 crore of wealth?
View on r/Nepal by Prestigious-Bar-1663
many of the people in this sub fail to realize the poverty that exists in Nepal. traveling to different parts of the country, I noticed a vast majority of our people are dirt poor. 1 crore, for many of them, is stratospheric wealth.
I think you will be in 1% or if not its very close. For close reference you can observe India’s data, Its 175,000 which is equivalent to 2 crore but India has nearly double per capita income compare to Nepal so I think its very close to 1 crore to get into 1%.
And idk why are people getting confused with OP question, He is not asking whether 1 crore is enough to retire. People who have access to internet, food daily and roof above their head already puts them into 10-20% range for our country i think.
My 2 cents: **You will probably need around 2-2.5 crores to be in the top 1% in Nepal**. *Whether those two crores are enough to retire or to live a comfortable life for a family (my guess: no!) is another question*. The lack of nuance in understanding these topics, and the level of privilege in this Reddit group is astounding. 1 crore Nepali rupees might not put you at the top 1% but it surely puts you at the top 5% in Nepal. If 2.8 crore puts you in the top 1% in India, why not in Nepal? Real estate in India is actually even more inflated than in Nepal. Remember 1% is still a lot of people (for Nepal it’s about 3 lakh individuals), and there are great wealth differences within this 1%. Plus this is “*individual*” wealth, so if you have a family of 4, you need 4 times this wealth (say around 10 crores for family) to be in the top 1%.
Kathmandu’s population is only about 4-5% of the population of Nepal, so you can’t draw conclusion only based on Kathmandu, or for that matter by only looking at Pokhara, Butwal, or Bharatpur; other people might not be as privileged. Plus, I’ve lived in some of these places so I know not everyone living in cities has 2 crores net worth either. People are financing a lot of things with loans. Remember Nepal is a very poor country. In Nepal, about one-fifth (20%) of the population is living under absolute poverty, who are earning less than a couple of dollars a day. That means, if you earn more than 300 on average every day of the year, or NRs. 9,000 per month, you are already among the top 75-80%. If you earn 500 a day, or 15,000 a month, you’re doing better than at least a third of the population. The median salary is somewhere around 30,000 a month or 3.60 lakhs a year.
Some people might say “No, you need 10/20 crores etc. per person to be in the top 1%, because I have seen neighbors and friends with money.” Not really! They are not representative of the population. If you had 10 crores for yourself, you’d be around the top 1% *in* *Saudi Arabia*. This is net worth, so you have to have the amount after deducting all your loans. A lot of people in Nepal, and in other countries, have a lot of loans: home loans, education loans, loans from relatives, and so on.
If its cold hard cash sitting in your bank Yes.
If its land valuation ir networth then No.
The same website also allows to see your position. 1crore per person of wealth make you Top 2% as per the database. [https://wid.world/income-comparator/](https://wid.world/income-comparator/)
Too many tone deaf people in the comment section.
1 crore fd ma matra rakheni you get ~1 lakh interest per month. If that doesn’t fulfill your needs with a simple, above average lifestyle, I don’t know what to tell you.
1 crore of wealth is literally a 4 anna ko ghar in city
1 crore kati ho vaney ra bujauxu. Yadi koi bhatbhateni maa kaam garxa vaney suru ma 10-11k talab dinxa paxi badey ra 17 dekhi 20 hola. 20 hajar ma kati bachla 5 dekhi 10 hajar. Mahina ko 10 hajar saving lay marunjil 18 dekhi kaam suru garda life time ma 70 lakh hunxa.
land price is 50-60L in decent place. 1cr won’t get you anywhere. 10cr is might.
Kathmandu ma ghar cha, ghar ring road bata 20-30 min walking distance ma cha ani bank ma 20-50 Lakhs chill na base ko cha vane i think you will be in 1%. I think.
Most of the people, almost everyone struggles financially at some point if their life. Dherai manche sanga 5 lakh hard cash manage gara 1-2 din ma vanne ho vane a lot would struggle without other help or lend.
The comments section just goes to show how delusional some redditors are and how they think KTM and other major cities are representative of whole Nepal.
most of the people who have houses in cities can be counted in. the market value of land+house is huge here. but again, it boils down to what percentage of Nepali own a house in a city.a
it would have been even less that 1 crore if it was not for the real estate bubble .There are 3 lakhs house within the valley itself , another total of around 8lakhs when you account for other metropolitan and sub metropolitan .Accounting for rate of land in all these city per ana , dhur , or whatever unit they use 62% house average in 1cr. Considering only 50% of that population have cleared the loan and have property to their own name brings the number to 3.4 lakhs .That slightly more than 1% . This is a very stupid way of calculatiing but its just to prove the magnitude of real estate bubble and how dependant we are on it that if it bursts our whole economy will come down.The real estate value of Kathmandu and few other metropolitan city is doubling in every 3.5 years
1 crore is a lot but no. Ain’t no way you’re getting in the top 1% with 1 crore.
lets see, Nepal Population= 3 crore
1% of 3 crore= 3 lakhs
so I think 3 lakhs vanda badhi manxey haru sanga 1 crore ko sampati xa..
It depends though, Bank ma ki katai cash ma 1 crore vaneko ki ghar jagga garera 1 crore vaneko
1 crore lay aauta decent Ghar bandena ya bhaktapur ma , timlae 1% banna parya xa
What I realized growing up was that a crore wasn’t even that much money, I wanted to invest in property but its so less money.
No,Unless You have some juicy stocks that your uncle pumps and dumps
Do you earn 1 crore per annum? If so, then maybe true
Sorry, 1 crore is barely middle class. Try building a house forget the cost of land
I feel unlike india we dont have enough poor people or enough ppl in general so i think we need atleast 3 crore+ to be in top 1%
Not 1%. I don’t know the exact numbers but definitely not 1%. Look around Ktm, each house with their land is easily worth 1 crore plus. Even non-ktm places have high valuation depending on the location.
Very true most Nepalese are dirt poor but the 1% of nepal can be compared to the millionaire’s in the USA. 1 chore won’t even get you the car that 1 % drive. Do the math. Try 1 arab
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