Millionaires

[lankeela]

A record number of lottery millionaires have been created this year. Whilst I certainly wouldn't turn it down, don't you think the value of being a millionaire is a lot less than it used to be? When you watch the 'homes in the sun/move abroad/do up your mansion type programmes there are often houses worth a million or more, whereas at one time being a millionaire meant more than being able to afford a big house. Perhaps we should start referring to being a billionaire now.

[ummmm]

The problem, I think, is getting the million over night.

People who have earned their million/s tend to be much more careful with it.

Believe me...I know :-) (not me btw)

[joggerjayne]

I think if you include the values of our houses, being "worth £1m" is neither here nor there nowadays.

[Sqad]

lankeela

<<<<the value of being a millionaire is a lot less than it used to be?<<<

I agree, the "value" is not as it was some 25years ago.

[cazzz1975]

the value I think is definitely a lot less, you could buy a semi detached house in 1933 for £500 pounds, of course coupled with a rise in the cost of living, someone needs to be more a 'multi millionaire' to feel like a millionaire these days

[jd_1984]

We have had this discussion in work today, if you won million would you leave work? Can a million really be enough to never work again? If you are fairly conservative (by which I mean dont buy a 500,000 pound home and a ferrari) and invest wisley then perhaps you could live very well (bearing in mind I am 29 and therefore 46 years until retirement age). I think I would find myself back in work within a few years. I would prefer to keep woking and then enjoy the nice things in life on the side??

[jackthehat]

Apparently, to live a 'millionaire-lifestyle' one now needs about £ 30m...........

[jd_1984]

I apologise for my totally useless maths - I meant 36yrs until retirement!!

[joggerjayne]

It's just house prices, Doc.

But it's just notional, isn't it. It's not money in your pocket.

I know people whose houses are worth well over £1m, so they are technically "millionaires" but who are really struggling to make ends meet at the moment.

[scotman]

Eddie

/Around £1000 a week after tax ? I could live on that ! /

So could I - today, but how about 20 years from now after all the effects of inflation?

[karenmac60]

My total worth is in the negative - I own nothing and I owe lots ;)

[jd_1984]

JJ - You are dead right there. I know people who live in big houses, mortgaged up to the ceiling and who drive BMW's but they are rented. On the surface they have it all. But technically I am better off as I have no debts and my out goings are controlled. I am able to save £500 ish per month and still live relatively well. But I dont have the big house or the BMW yet! But Im getting there bit by bit!

[China Doll]

I think it depends on what your idea of a millionaire type lifestyle would be. I think if I won a million, I'd probably just have a few more holidays a year, invest in a nice property (not massive) and perhaps work or study part time. I wouldn't be looking for a particularly lavish lifestyle as the one I currently have is pretty ok really. That said, if I wanted to live it up like they do on those cribs programes I've seen on MTV then I'd probably need several million!

[starone]

I have been buying lottery tickets ever since it started and never won more than a tenner. If I had saved it all it would have been quite a lot by now (don't ask me how much i'm no good at anything like that). However, if I won millions I think a lot of it would go to other people to help them. I do not require any more than I already have. You can only live in one house at a time, only sleep in one bed and so on. Why ask for any more?

[lankeela]

Interesting comments, of course I didn't mean the actual monetary value which has obviously lessened over the years, it is as someone else said the millionaire lifestyle which I alluded to, in other words 'this time next year Rodney we're going to be billionaires'.

[lankeela]

Starbuckone, I have also bought lottery tickets (not every week but quite often) and wonder how much I have spent, but the answer must be I COULD have won, but not if I hadn't bought them. Ask any of the winners if they would rather have put the £1 a week away!

[madmaggot]

Money cannot buy happiness; certainly true.
But, being short of money can certainly bring unhappiness.
The big question IMO is, how much money is necessary for a happy life?
For me, very much less than most people would consider to be necessary is perfectly adequate. Our joint income is much less than the national average wage but we have a great life.