Whats it feel like to be a millionaire?

[Allseeingeye]

I really want to know what it must feel like to live in a reality where your reality becomes a dream, what are the downs of being a millionaire? if there are any.

Do you become more happy or deep down more sad? Do you find that your so called friends become jealous or change towards you? Or do you find they love you more?

Do you become lonely? or more socialable? Do you find that once you are making a certain amount of wealth, that more wealth comes to you? Do you ever get sick of being wealthy? Do you have much time to live your life?

Your honest answers are welcome.

Blessings

 

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[Anon3587x]

I remember when I bought a big flat screen t.v for my room.
It felt so great waking up every morning and seeing it knowing it was mine.
Every morning was awesome!

 

[Rem]

I am not a millionaire yet so I can't answer this. I hope to hear from others as well. :cheers:

 

[MJ DeMarco]

Do you become more happy or deep down more sad?

You're joking right? I can't imagine life any other way.

Do you find that your so called friends become jealous or change towards you? Or do you find they love you more?

I don't have a lot of the same friends I had when I was younger, partly because I moved across the country. I try to establish/maintain friendships who have a similar "can do" attitude. Imperial Slowlaners are not in my social circle.

Do you become lonely? or more socialable?

It is more lonely in retirement because you don't have co-workers or employees to deal with. Remember, there is no cubicle next door -- just the neighbors. If I don't take an active role in "getting out", I can drive myself nuts.

Do you find that once you are making a certain amount of wealth, that more wealth comes to you?

Of course, because wealth is nothing but a formula -- once you know the formula, you can always use it.

Do you ever get sick of being wealthy?

Do you ever get sick of breathing air?:smxB:

Do you have much time to live your life?

I have all the time in the world because I have my time, and I have my health -- freedom is the ultimate paycheck of wealth; not "stuff" like big houses or Lamborghini's. Not a day goes by when I don't live in gratitude.:cheers:

 

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[Anon3587x]

Allseeingeye I bet there are people who would pay to get the answers PhxMJ just gave you lol.

 

[LagunaLauren]

I really want to know what it must feel like to live in a reality where your reality becomes a dream, what are the downs of being a millionaire? if there are any.

Do you become more happy or deep down more sad? Do you find that your so called friends become jealous or change towards you? Or do you find they love you more?

Do you become lonely? or more socialable? Do you find that once you are making a certain amount of wealth, that more wealth comes to you? Do you ever get sick of being wealthy? Do you have much time to live your life?

Blessings

I haven't found any "downs" about being a millionaire. More money allows for more freedom. Freedom to choose and freedom of time.

Definitely more happy. Having money removes the stresses that lack of money creates.

We cleaned house and dumped a lot of our old "friends" who were more interested in the lifestyle perks that came along with hanging out with us and using us. Our friends now are true friends; good-hearted, generous, successful, like-minded.

Definitely not lonely. Have great family and friends. We may not be as sociable as we used to, but it's because our priorities have changed. We don't go out & drink, for example. We spend time with friends and family at nice dinners, at each others homes, at philanthropic events, on a friend's mega yacht, etc. More personal settings rather than bar scene.

Yeah, more wealth comes to you. Just seems to happen. More opportunities, people, circumstances seem to line up in your favor.

I can't imagine anyone would ever get tired of being wealthy. You know what I would get tired of? Flying commercial! Private jets spoil you. Once you've experienced it, there's no going back! Seriously-I took a commercial flight last week. One girl across from me threw up. The guy next to me lectured me that if I didn't accept Jesus Christ as my personal savior and ask for forgiveness for my sins that I was going to hell. Who lets these crazy people on planes in the first place?? Thought I was being punked!

Wealth buys time. It's been such a joy to spend the summer with my kids doing whatever we like. Their friends go to summer camp everyday while their parents work. I'm loving every minute. Plus we're all enjoying family vacations and are sporting some wicked tans!

 

[Anon3587x]

People would pay for LagunaLauren's advice too.

This forum really helped me understand that millionaires are not these mystical godly people. They are just like you and me. A lot of them came from similar situations. Millionaires are just ambitions and have insane work ethic.

Willing to bleed today, and the next day, and the next day with no reward. Knowing sooner or later they will receive a reward. They never allow anything to stop them or hold them back. So many examples of that on this forum.

I can answer one of your questions with a quote.

 

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[Charlotte]

A millionaire from 1950s is not the same as one in modern times, just saying, and in decade or so a billionaire will be the equivalent of the millionaire.

A millionaire who saved is not the same as one who makes a million a year.

I say anyone making 75-100 k a year (middle class) can be a millionaire. It's just a matter of time.

I imagine when I hit my 1st million it will be "alright, that's cool. Now today I have to do, blah blah" It's not going to be a milestone. When I was a child I would think a thousand is a lot, but it's really nothing. I am calling up my mother though to tell her that milestone, since it would be one for her.

A milestone for me would be, 100 million. And that's me saying it right now, since I see anything less than 100 million as being "not rich". Money buys my happiness, but only temporarily, since I cannot be happy being at standstill. I am seduced by money, and it's my drug.

 

[Russ H]

A millionaire from 1950s is not the same as one in modern times, just saying, and in decade or so a billionaire will be the equivalent of the millionaire.

A millionaire who saved is not the same as one who makes a million a year.

I say anyone making 75-100 k a year (middle class) can be a millionaire. It's just a matter of time.

I imagine when I hit my 1st million it will be "alright, that's cool. Now today I have to do, blah blah" It's not going to be a milestone. When I was a child I would think a thousand is a lot, but it's really nothing. I am calling up my mother though to tell her that milestone, since it would be one for her.

A milestone for me would be, 100 million. And that's me saying it right now, since I see anything less than 100 million as being "not rich". Money buys my happiness, but only temporarily, since I cannot be happy being at standstill. I am seduced by money, and it's my drug.

Actually, Charlotte, you're off by one order of magnitude (10X)

A dollar in 1950 is worth $9.15 today.

So if you had a million dollars in 1950, you'd need only$9.15 million in 2010 to have the same buying power.

And your comment about a decade from now, a billionaire being the same as a millionaire today, is WAY off:

Inflation typically clocks in around 3% per year.

So a person w/a million dollars today, would need $1.305 million in 10 years, accounting for 3% inflation every year (3% added each year, over 10 years = 30.5%)

Your millionaire => billlionaire over 10 years example represents 99,900% inflation.

That seems a wee bit too much, doesn't it?

* * * * * * * * * * * * * * * *

One of the steps to attain great wealth is mapping it out-- understanding the value of things.

Another is to figure out just how much you truly need--- how many dollars provides for a luxurious life, for you.

Sure, you can just throw out big numbers ("100 million dollars", "a billion in ten years"), but if you're really serious about getting rich, you need to spend some time w/the numbers to appreciate what they're all about.

* * * * * * * * * * * *

For instance:

if you had $100 million of 2010 dollars.

And inflation was 3% per year.

If you spent $100 a day on going out to eat ($700 per week, ~$3000/mo, $36,500 per year), after 100 YEARS, you would have spent only $22,441,583.00.

Meaning you'd still have over $77 MILLION left.

And you'd be 118 years old.

That's assuming you have NO return on investment (ie, it doesn't grow), and that it loses 3% per year in value due to inflation.

That's only 100 million.

Can you see how staggering these numbers are?


* * * * * * * *

Let's do it a different way.

Let's say you want to get enough money so that you can spend, say, $40,000 a month, every month, for the rest of your life (adjusting for inflation at 3%).

That's more than $1000 a day. Every day. For the rest of your life.

Heck, if you sat around one week and just did nothing but read a few books, you'd have an extra 6 grand.

So the question a wealthy person asks is: How much do I need to live the life I want to live?

Let's assume you can average 2% return on your money throughout this period (ie, through investments) AFTER inflation. In other words, if inflation is 3%, your investments kick off 5% (5% ROI minus 3% inflation = 2% annual adjusted ROI).

OK, so let's say you start with $10 million, and get 2% per year, adjusting for inflation.

$10,000,000 x 2% = $200.000.00

That's $200,000 PER YEAR-- just in interest!

FOREVER.

At the end of 20, or 50, or 100 years, you'd still have $10 million (assuming 2% average return after inflation).

And you'd be living on $200K per year.

Start w/$100 million and you'd get $2 MILLION per year in just interest-- and still have your 100 million after 100 years, or 500 years, etc.

THAT is what being wealthy is like.

Learning how to juggle the numbers to make your money work for you.

Not the other way around.

-Russ H.

 

[biophase]

I'm not a millionaire, but I can't really imagine that my life would be much different than it is now. I probably would eat at more expensive places during lunch, maybe have a better car and definitely get a new softball bat so MJ will stop complaining. I probably wouldn't think that my landscapers are too expensive or that my maid doesn't clean enough.

Even if you have the money little things like getting overcharged by $1 for lunch would still bug me. Having the money in the bank doesn't make people who are responsible suddenly act irresponsibly with their money. It's not like you suddenly think $10 is nothing and just give it to people for no reason.

Now if you are irresponsible with money and like to show off by tossing $100 tips at dinner, becoming a millionaire will just magnify that and you'll be tossing $1000 tips and be broke in no time.

 

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[Russ H]

Charlotte-

When I was writing my response to you, all I kept thinking about were the Dr Evil quotes-- when he just throws big numbers around and people laugh:

YouTube - Dr Evil in 1 million Dollars

I don't say this to be mean-- I say it to make a point.

If you truly want to build up money, and wealth, then you need to start really digging into and understanding the numbers.

Otherwise, you're gonna sound an awful lot like that bald guy nibbling on his pinkie.

-Russ H.

 

[Rem]

This is a really cool thread. For me if I were to obtain wealth in that degree my life would be different but I am sure I would remain human. I am not the type to hire landscapers, maids, and butlers but I have imagined having them before and wondered what it might be like. It's really not my cup of tea but I may change my mind when I get there.

I know millionaires who complain about the cost of things more than I do. Maybe that's why they became millionaires to begin with. For example, I am in the process of putting new plumbing in my house. We bought a house built in 1908 and the plumbing hasn't been touched since the day it was built. Crushed clay pipe under the ground, cast iron in the house. To replace it all we have to dig 140 feet. When it is all done I will be forking out $13K to pay for this. No credit card. Just a fat check. I keep thinking to myself, if I were a millionaire would I think differently about this situation?

Would having wealth make me more frugal or would I not feel so bad to drop $13K in 4 days. Or maybe I would be more ticked off to see my money leave my bank account. It's really hard to say. But $13K is not life altering even to me at my stage. I can afford it, but only wished I was purchasing something else. It doesn't stop me from achieving wealth as it is a process.

I will be able to answer my own questions in just a few years. :smx9:

 

[Allseeingeye]

You're joking right? I can't imagine life any other way.

Jokes aside I was being serious, you just here so many stories of multi millionaires who are depressed and some who go that extra step and take their life.

Of course, because wealth is nothing but a formula -- once you know the formula, you can always use it.

Wealth is a formula...Wealth is a formula...these are very wise and humble words.


Do you ever get sick of breathing air?:smxB:

LOL

I have all the time in the world because I have my time, and I have my health -- freedom is the ultimate paycheck of wealth; not "stuff" like big houses or Lamborghini's. Not a day goes by when I don't live in gratitude.:cheers:

PhxMj you gave some really inspiring answers here, thanks for your time.

Blessings

 

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[Allseeingeye]

I haven't found any "downs" about being a millionaire. More money allows for more freedom. Freedom to choose and freedom of time.

Definitely more happy. Having money removes the stresses that lack of money creates.

We cleaned house and dumped a lot of our old "friends" who were more interested in the lifestyle perks that came along with hanging out with us and using us. Our friends now are true friends; good-hearted, generous, successful, like-minded.

Definitely not lonely. Have great family and friends. We may not be as sociable as we used to, but it's because our priorities have changed. We don't go out & drink, for example. We spend time with friends and family at nice dinners, at each others homes, at philanthropic events, on a friend's mega yacht, etc. More personal settings rather than bar scene.

Yeah, more wealth comes to you. Just seems to happen. More opportunities, people, circumstances seem to line up in your favor.

I can't imagine anyone would ever get tired of being wealthy. You know what I would get tired of? Flying commercial! Private jets spoil you. Once you've experienced it, there's no going back! Seriously-I took a commercial flight last week. One girl across from me threw up. The guy next to me lectured me that if I didn't accept Jesus Christ as my personal savior and ask for forgiveness for my sins that I was going to hell. Who lets these crazy people on planes in the first place?? Thought I was being punked!

Wealth buys time. It's been such a joy to spend the summer with my kids doing whatever we like. Their friends go to summer camp everyday while their parents work. I'm loving every minute. Plus we're all enjoying family vacations and are sporting some wicked tans!

LOL, Great story and thanks for sharing.

You sound like a really cool person and am thankful your dreams come true, pshh and they say the money is the root to all evil. Since I have started my journey to wealth, I have learnt many things about millionaires all of which contradicts what I have been told.

Money is not the root to all evil - It is a gift you recieve when you are happy

It makes me happy to know that the minority of people with wealth are a master of themselves, and really do care about the rest of us who are slacking. You sound like you are rocking this world, this is the lifestyle I am working towards, eating at nice dinners, going to Bob Proctor events, and just chilling out in the spare time making music and designing or reading.

I am so far behind and have some major catching up to do, but this has inspired me to stay present and keep working at it.

Blessings

 

[LightHouse]

pshh and they say the money is the root to all evil.

No no, the root to all evil is this -


$rm -rf /*

 

[Allseeingeye]

No no, the root to all evil is this -


-rf /*

I dont get it, I love little cryptic messages like this, but this one
is doing my brain in! Whats the formula Lighthouse?

I got this far :

Money x Revenge x Mad Cow disease - Responsiblity x Fish Fingers = An angry fish finger wearing a gold medallion on the beach sipping pina colada confused why he has mad cow disease??

Blessings

 

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[Icy]

No no, the root to all evil is this -


-rf /*

Pfft, just don't use Unix. Use a *perfect* OS like Windows Vista instead. :smxB:



Edit: Allseeingeye - On a Unix operating system, typing in that command deletes everything in the folder. So, enter that on the root directory (the very 'first' folder) would more or less delete everything on your hard-drive. That's it without going into what each part means.

 

[Allseeingeye]

Pfft, just don't use Unix. Use a *perfect* OS like Windows Vista instead. :smxB:



Edit: Allseeingeye - On a Unix operating system, typing in that command deletes everything in the folder. So, enter that on the root directory (the very 'first' folder) would more or less delete everything on your hard-drive. That's it without going into what each part means.

Hahhaha thanks man, so its the format c: command for linux, I get it.

For a second I thought this was some ancient maths formula for the root of all evil.

Blessings