Friday, 4 April 2014

How To Become A Millionaire

Ok, so I’ve got your attention….

It still fascinates me as to how the concept of being a “millionaire” is still so ingrained in our lexicon, regardless of where we are in the world and despite it not being “what it used to be”. Thanks to the cost of living, a million of anything just won’t go so far these days. Gone is the cachet and security that used to come with it. It’s still referenced in all parts of popular culture, whether we’re talking TV programmes, books or films, but the reality is that number has had better days.
And it doesn’t matter whether you are thinking in terms of 1 million US dollars or 1 million Zimbabwean dollars (about US$2,750 if you were wondering), it should all really come back to the same basic question: “Why?”.

A lot of us (and I include myself in this) get elements of our personal finance and life the wrong way round. We think up a number, a target and assume that if that amount was sitting in our bank account, everything would be sorted. It doesn’t matter whether we’re talking US$1m or US$10m, it just doesn’t work that way. Yes, having a large stash of cash sitting waiting for you can give you more choice, but we all know that doesn’t guarantee happiness. Lottery winners going bankrupt is more than just ironic. It’s sad. At the end of the day, living the life you want to live is the important thing here.

There’s nothing wrong with aspiring to having nice stuff, but just for a second shift your focus from wanting the millionaire or multi-millionaire lifestyle (whatever that entails) and just get clearer on your“why?”. Are your deepest desires being met with the trappings? Is your inner voice speaking in tune with the choices being made? Your “why?” could well be to do with security or the ability to do what you want, when you want. There’s no judgement here. Only you will know. But once you decide what exactly is important to you and what you need to meet that need, you may look at that figure slightly differently.

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