Lifestyles of the Rich and Famous

You will NOT see the average middle-age millionaire on TV because they don't show off their wealth and they don't want to be well known. Also, they are good investors and savvy businessmen who live below their means. It doesn't sound glamous, but these people have the freedom to do whatever it is they want. They have options in their life and don't have to worry about the economy, unemployment, and bills. They can donate to charities, help their kids and grandkids by sending them to good schools.

If you had 10 million dollars you wouldn't be able to afford the lifestyle of the rich and famous. You would need at least a few hundred million to live like the celebrities and the ultra rich. A mansion is 2-5 million, then you would need several cars that are worth at least a few hundred thousand each, and a wardrobe that costs at least $20,000 a month to keep up with the latest fashions. Not to mention housekeepers, gardeners, and other hired help to maintain the house. If you kept it up, you will be broke with 2 years.

It's not uncommon for average people that are living in your own neighborhood to have 1-5 million dollars in assets not including their homes. These people worked very hard and saved and invested well their whole lives.

Think about it. What do millions of dollars mean to you? Is it a lifestyle you want? Or is it time freedom and no worries about bills?

If there is a certain lifestyle you want, you need to know how much money it will cost before you can live and maintain that lifestyle. It would be no fun if your money ran out in a year. It's much harder living like a commoner when you've tasted and sampled the best and what money can do for you. If your money ran out, you would be depressed going back to living in your old apartment or condo.

Personally, I think it's much better investing the money and living in a modestly better lifestyle if you came upon a windfall then to waste it all in a year. If you lived better but in a modest way and use the money wisely you can have a longer time to enjoy it.

To future millionaire in the making, prepare yourself for Millionaire Troubles and become big enough to deal with whatever problems that may arise.