What's on this video:
0:14 – Would you rather be a millionaire or live the lifestyle of a millionaire?
0:32 – What it means to be a millionaire
0:47 – What it doesn't mean to be a millionaire
0: 57 – What most people want
1:03 – The lifestyle we all want
1:46 – What the study found when it interviewed millionaires
2:02 – What the millionaires said about their lifestyle
2:42 – What do you think? Leave a comment
Hi everyone this is Suraj and in this video i'm going to tell you why you don't really want to be a millionaire. Keep watching!
A while ago I was given a study that I read which asked people one question: "would you rather be a millionaire or live the lifestyle of a millionaire?"
Think about it for a second before you answer. Most people get confused by that when I ask them whether they would rather be a millionaire or live like a millionaire. Being a millionaire means having £1 million $1 million or more in your bank account – that's all it means to be a millionaire – it's just about a number, which when you put it like that doesn't seem so appealing. It doesn't mean any of the things that we see in movies or in the media, it's just about the amount of money you have in the bank. Living the life of a millionaire is actually what most people want – its to be able to go on holiday whenever they want, have the house they want, have any car they want, and basically be financially free and secure without having to worry about paying bills or little things like buying new furniture or refurbishing your house. A lot of the lifestyle elements that people crave for actually is not material, it's more about security and peace of mind than anything else when you really dig deep and figure out what you want in life.
If I told you that you could have the life of your dreams without needing to be a millionaire, most people would take that and that proves again that most of us don't really want a million pounds, we want the lifestyle that comes with it.
So this study basically interviewed a bunch of millionaires and non-millionaires and it found that ultimately, for the average person nothing in terms of lifestyle changes after the £200k a year mark. The millionaires pretty much all said that after £200k/year nothing really changed which suggests that you only need to be earning about £200k a year to live the lifestyle of a millionaire. Now obviously if you want to buy yachts and hotels then this probably won't make sense to you but for most people who don't want to buy hotels or islands this concept makes it much more achievable.
Going from zero to a million is a big thing. Going from zero to £200k suddenly seems much more achievable and realistic and rather than setting yourself up for failure you can feel more motivated that £200k is easier to get to than a million.
I'd love to know what you think about this and I know this is probably going to polarise a few people, so i'm up for a bit of a debate if you are. Leave a comment on my blog where this video is posted and we can carry on the discussion there…
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I'm Suraj, thanks for watching.