How much do I need to live a millionaire lifestyle?
Discussion
Lozw86 said:
Not very long. Some would think nothing of spending £50,000 on a night out, £20,000 on a suit to be worn once, £100,000 on a nice watch
Come on, the number people able and prepared to spend those sort of figures aren't living a millionaire lifestyle, that's way beyond what I was thinking.What about this:
Single guy.
I've a really swanky apartment in a city centre, (not London) it's worth 400k and no mortgage. That costs £600 a month to run (council tax, gas, water, sky TV, insurance etc)
Two cars, a £30,000 DB9 and a Mercedes E250 that's leased at £350 a month. Running costs of those are going to be £500 a month.
I take 4 holidays a year at £2000 a time and spunk £2000 when I'm on each holiday.
I spend £500 a month on eating out, £300 a month on clothes ( bearing in mind I'd have plenty already)
I'll wear a £3000 watch.
I'll pay £30 a month for my I phone, have Waitrose deliver £100 of goods a week.
So, my apartment and car take £430,000 from my million.
If I have a £50,000 job that'll pay all the above ( no mortgage remember) and the £16,000 holidays would be paid from the interest at 3% on the remaining £570,000.
What am I missing?
Single guy.
I've a really swanky apartment in a city centre, (not London) it's worth 400k and no mortgage. That costs £600 a month to run (council tax, gas, water, sky TV, insurance etc)
Two cars, a £30,000 DB9 and a Mercedes E250 that's leased at £350 a month. Running costs of those are going to be £500 a month.
I take 4 holidays a year at £2000 a time and spunk £2000 when I'm on each holiday.
I spend £500 a month on eating out, £300 a month on clothes ( bearing in mind I'd have plenty already)
I'll wear a £3000 watch.
I'll pay £30 a month for my I phone, have Waitrose deliver £100 of goods a week.
So, my apartment and car take £430,000 from my million.
If I have a £50,000 job that'll pay all the above ( no mortgage remember) and the £16,000 holidays would be paid from the interest at 3% on the remaining £570,000.
What am I missing?
Gareth79 said:
A 'millionaire lifestyle', absolutely. A first-class flight to anywhere nice costs more than your entire holiday alone 
That's not the case at all. I can fly Emirates First Class to Dubai and stay 5 nights in a Five star hotel for £2000, significantly less if I go business, so your figures are incorrect.nick s said:
I guess there really is no clear definition is there? The GF's parents have a monthly net income of 17k. Plus approx. 300-400k a year in bonuses (net again).
They have more money in the bank than they know what to do with. Just flew first class to Australia. No mortgage and no money worries at all. Yet he has to work, and he works hard and long hours. So doesn't get the time to enjoy a millionaire's lifestyle. But does that level of income qualify?
And regarding the original OP. That is very similar to me and my GF (late twenties). Except we spend much more than £500 on eating out, and a lot more than £300 per month on clothes. The holiday spending is about right though. The exception is that we have a mortgage (£1600 per month). By no means do we consider ourselves even well off! Just doing ok for this stage in our lives. No way is that anywhere near even a well off lifestyle IMO.
It is all relative without a doubt. One persons expensive meal out is another's norm, one person will think buying a bottle of wine for £15 is a lot, another will spend ten times that without batting an eyelid.They have more money in the bank than they know what to do with. Just flew first class to Australia. No mortgage and no money worries at all. Yet he has to work, and he works hard and long hours. So doesn't get the time to enjoy a millionaire's lifestyle. But does that level of income qualify?
And regarding the original OP. That is very similar to me and my GF (late twenties). Except we spend much more than £500 on eating out, and a lot more than £300 per month on clothes. The holiday spending is about right though. The exception is that we have a mortgage (£1600 per month). By no means do we consider ourselves even well off! Just doing ok for this stage in our lives. No way is that anywhere near even a well off lifestyle IMO.
I'm surprised though if you consider yourselves not to be well off if you spend much more than £500 a month on eating out and £300 on clothes, remember, my figures were for an individual.
With Pistonheads being the home of the powerfully built company director the perception of posters may be different to the average person who works for a modest salary, has little savings and lives in atwo bedroom terraced whilst driving a 53 reg Focus and holidays in A Torquay bed and breakfast.
z4RRSchris99 said:
the OP means a lifestyle, that others would percived by others to be that of a millionaire, which usually revolves around material things, such as cars, holidays, houses, toys etc.
i.e. A flash car, some nice clothes and a shiney rolex, with a bit of a tan from that holiday villa in ibiza where you smashed 10k on a table at blue marlin.
not, what do actual millionaires do with their cash. id like to think i have a million in assets, I dont have a millioniaire lifestyle.
That's pretty much it.i.e. A flash car, some nice clothes and a shiney rolex, with a bit of a tan from that holiday villa in ibiza where you smashed 10k on a table at blue marlin.
not, what do actual millionaires do with their cash. id like to think i have a million in assets, I dont have a millioniaire lifestyle.
How much do you need to lead a lifestyle like you have described, is that what anybody would describe as a millionaire lifestyle on here and also, would the average man in the street say someone who lived as I've described as living a millionaire lifestyle.
I think many (most) would.
On Pistonheads of course a millionaire lifestyle seems to equate to having a big house (which is probably close to falling down)but not much more, that to me isn't a millionaire lifestyle at all. It's boring.
If I had as much money as these people say their friends have Beleive you me I'd let people know but then I'm a flash sod.
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